Chart

Number deposit taking NBFCs fell sharply in last 8 years

Fixed deposit, Finance, Savings, Personal finance

In absolute terms, the insured deposits amounted to Rs 83.89 trillion as of March 31, 2023

INVESTMENT, PLANS, SAVINGS, mf, mutual funds, investors, equity, pension, NPS, funds

Non-linked policies must be availed of by that deadline to earn tax-free return without cap

Find out how governments and central banks ensure that the depositors' money is protected in case of fallout, like Silicon Valley Bank (SVB) here

IDBI bank

The bank has also tweaked the deposit rate for 555 days

Bank of India

Apart from the special deposit scheme, Bank of India has raised interest rate on its existing 555-days fixed deposit scheme to 6.30 per cent

banking

Outstanding deposits declined to $135.9 billion at the end of June 2022 from $141.5 billion a year ago.

Bank of Baroda, BoB

Bank of Baroda has launched a new deposit scheme offering interest rates of up to 6 per cent on domestic retail term deposits.
The 'Baroda Tiranga Deposit Scheme' marks the 75th Independence Day of India, which is a special term deposit scheme offering higher interest rates, the bank said in a release on Tuesday.
The scheme, to be available till December 31, 2022, has two tenor buckets of 444 days and 555 days, offering interest rates of 5.75 per cent per annum and 6 per cent per annum, respectively.
The scheme was launched on Tuesday and is applicable on retail deposits below Rs 2 crore, the bank said.
Senior citizens will get additional interest rates on their deposits under the scheme.

hdfc

HDFC Ltd said individuals can earn interest at 6.55 per cent on their deposits, whose period can range from 3-10 years

Photo: Shutterstock

The new norms are applicable for deposits in all commercial banks, small finance banks, local area banks, and cooperative banks.

VRS scheme

The State Bank of India (SBI) has introduced a special deposit scheme for senior citizens with a higher interest rate

graph

The rules under the Act may hold the key to its implementation, say experts

parliament

Bill proposes to ban deposit takers from promoting, operating, issuing advertisements or accepting deposits in any unregulated deposit scheme.

Indovative Products, a Delhi-based start-up that manufactures currency packaging products, submitted its bids but was rejected on the technical ground that it lacked "past experience"

Bank Note Paper Mill

Discount brokers have sustained the rise of the equity cult and gained market share. Now the old guard looks to strike back

Industry players say the number of demat accounts will continue to grow. However, the pace of addition may moderate.

markets, demat account

Half of India's population between the age of 30-55 years believes 59 years should be the age of retirement and thirty-two years is when one should ideally start retirement planning,

investment,saving, money, retirement, rupee

He pointed out that the year-on-year growth in September appeared somewhat "muted", primarily attributed to the substantial base effect

Auto sales continue to slide in Dec, likely to remain subdued for some time

The Apple iPhone 15 Pro Max stands out within the iPhone 15 series and offers substantial improvements over the previous generation model, the iPhone 14 Pro Max

Apple iPhone 15 Pro Max - Natural Titanium

According to a finance ministry circular, the interest rate on savings deposit has been retained at 4 per cent and on the one-year term deposit at 6.9 per cent

lending

Mr. Sushilkumar Deshmukh

Piyush Pandey is stepping into an advisory role at the company from the post of chairman global creative and executive chairman, starting January 1, 2024

Piyush Pandey

Vedanta to spin off, list six businesses to fuel growth

Vedanta

Lawsuits prompt calls for transparency and compensation in the world of generative AI

ChatGPT

Five resolutions placed by KRBL were rejected, including that of increasing remuneration of managing director (MD) and chairperson, three joint MDs and one whole time director

Just a few days before Invesco’s notice, proxy advisory firm Institutional Investors Advisory Services (IIAS) had asked Zee shareholders to vote against Kurien and Chokhani.

Corporate governance, Shareholders

Special efforts will be made to improve road connectivity and provide last-mile connectivity

hawa mahal, jaipur, rajasthan, clouds, tourism, historical palaces

All four junk-rated notes were indicated lower on Monday, Bloomberg-compiled data showed. The August 2024 bond posted the biggest drop, down 0.6 cents on the dollar to 62.6 cents

Vedanta, minning, manufacturing

The West Bengal government on Monday said that there is a high possibility of flood in seven districts of the state due to continued incessant rainfall in the upper catchment areas of neighbouring Jharkhand.
Chief Secretary H K Dwivedi on Monday afternoon held an urgent virtual meeting with senior officials of the districts of Paschim Bardhaman, Bankura, Birbhum, Purba Bardhaman, Paschim Medinipur, Hooghly and Howrah and directed them to immediately take all forms of precautionary measures.
"During the meeting, the chief secretary directed all District Magistrates and SPs to immediately identify low-lying and flood-prone areas as well as start monitoring waterlogging and embankment breaches and take proper steps for their remedies," an official statement said.
"The chief secretary informed the meeting that the India Meteorological Department (IMD) has predicted rainfall to continue till October 5 with heavy rainfall predicted tomorrow. The well-marked low-pressure area is currently 

flash flood, sikkim floods

Multi-sector investment firm IQuest Enterprises will acquire the active pharmaceutical ingredients (API) business of Viatris in India for an undisclosed amount.
The investment firm has entered into a definitive agreement to acquire the API operations of global pharmaceutical major Viatris in India, IQuest Enterprises said in a statement on Monday.
IQuest emerged as the preferred investor following a global competitive bid, it added.
As part of the deal, the company will acquire six API manufacturing facilities, three each in Vizag and Hyderabad, an R&D facility in Hyderabad, and third-party API sales.
"We are excited about our largest investment in the pharmaceutical sector till date. Our investment comes at an opportune time when India is drawing significant attention amongst the global pharma industry," IQuest Enterprises Executive Director Gunupati Swathi Reddy noted.
IQuest Enterprises is a multi-sector investment company. It has invested in various entities like AIG ...

deposit schemes

Chief executives of shadow banks urge RBI to allow public deposits

Deposit claims worth Rs 752 cr settled in FY23: Financial Stability Report

Deposits, pension scheme: Investments you should make before March 31

How do countries safeguard depositors' money when banks like SVB collapse?

IDBI announces new deposit scheme, lifts deposit rate to 7% for 700 days

Bank of India launches special deposit scheme; raises interest on others

Flows into NRI deposits nosedive to mere $349 mn in June quarter

Bank of Baroda launches special deposit schemes offering interest up to 6%

HDFC launches 'green and sustainable' deposits programme for retail clients

RBI tweaks norms for interest on unclaimed amount after deposit matures

SBI cuts lending rate by 15 bps, launches scheme for senior citizens

Banning of unregulated deposit schemes: Here're salient features of new law

Parliament panel wants punishment for unregulated deposit schemes