Bank holidays in India can be cause of confusion, especially when it comes to Saturday operations. According to the Reserve Bank of India (RBI) guidelines, banks operate on first, third and fifth Saturdays, while remaining closed on second and fourth Saturdays each month.Besides Saturday closures, banks observe national and regional holidays. It’s worth noting that…
European Central Bank president Christine Lagarde has warned that undermining central bank independence could unleash “dysfunction” and “instability,” issuing her remarks in the United States at a time when President Donald Trump is intensifying pressure on the Federal Reserve to cut interest rates.Speaking in an interview aired on Fox News after attending the Jackson Hole…
Are you looking for a fixed deposit with attractive returns?Many leading banks in the country have rolled out special fixed deposit (FD) schemes with a 444-day tenure, offering some of the best returns to general, senior and super senior citizens. Take a look at the current interest rates offered on these special FDs and what…
National Payments Corporation of India (NPCI) has directed banks and payment apps to stop all peer-to-peer (P2P) ‘collect requests’ on UPI from October 1, 2025, in an effort to curb financial fraud.In a circular dated July 29, NPCI said, “It is hereby informed that by October 1, 2025 UPI P2P collect shall not be allowed…
RBI Governor Sanjay Malhotra (File photo) MUMBAI: RBI Governor Sanjay Malhotra has said that the regulator has left it to individual banks to decide on the extent of minimum balance required and there was no regulatory restriction on that.“What kind of minimum balance required is left to the banks. Some of them have kept Rs…
Senior citizens looking for higher returns on their fixed deposits (FDs) can still earn up to 8.5% interest on three-year tenures, as several small finance banks continue to offer elevated rates. However, investors should be aware of tax implications like TDS and how to avoid it using Form 15H.As per data from Paisabazaar.com, as reported…
Trump dissing Fed chief Powell is new only to the extent that the former is rude. Plenty of govt bosses, in the West or in India, have had a go at chiefs of central banks. Govts like cheap money, it’s feel-good. Central banks hate inflation. There lies the tensionJerome Powell may still be a marked…
JPMorgan Chase reported a second-quarter net profit of $14.2 billion on Tuesday, down from $18.3 billion a year ago, but ahead of Wall Street expectations. The bank posted adjusted earnings of $4.96 per share, surpassing analysts’ forecast of $4.48, although lower than the $6.12 per share it earned in Q2 2024.Total managed revenue stood at…
Banks in many states will remain closed for three consecutive days starting Friday, 27 June 2025 due to the festival of Rath Yatra followed by a weekend. In Odisha and Manipur, banks will be shut on Friday in observance of Rath Yatra. However, as the ocassion is not observed as a banking holiday in other…
This is an AI-generated image, used for representational purposes only. In a concerted push to tackle the rising wave of digital payment frauds, major public and private sector banks are collaborating with the Reserve Bank of India (RBI) to develop a Digital Payment Intelligence Platform (DPIP), a new Digital Public Infrastructure aimed at enhancing fraud…