Banking

The arrested ICICI Bank employee used platforms like ICICI Direct and Zerodha to trade in derivatives using funds siphoned from senior citizens' accounts.

Updated : Jun 7, 2025

ICICI relationship manager used senior citizens’ money to trade derivatives, held for Rs 4.58 cr scam

ICICI Bank's internal audit uncovered a Rs 4.58 crore fraud spanning from 2020 to 2023, leading to the arrest of a 26-year-old relationship manager. The scam involved unauthorised financial activities affecting senior citizens, prompting a police investigation into potential accomplices.

In simple terms, if the pledged gold is worth Rs 1 lakh, borrowers can now get up to Rs 85,000 instead of the earlier Rs 75,000.

Updated : Jun 6, 2025

RBI hikes LTV ratio to 85% for gold loans under Rs 2.5 lakh, eases rules for small borrowers

The central bank has increased the Loan-to-Value (LTV) ratio from 75% to 85% for gold loans of up to Rs 2.5 lakh per borrower, including interest.

The PNB Board also approved fund raise of up to Rs 8,000 cr via issuance of Basel III compliant bonds.

Updated : Jun 6, 2025

Electric car loans get cheaper as PNB lowers rate below petrol, diesel vehicles

- PNB reduces EV loan rates to 8.30% to promote sustainable transport. - The bank sanctioned over 5,000 EV loans in FY 2024–25. - Digital and in-person loan application channels enhance accessibility.

According to an SBI Research report, "FD rates have been reduced in the range of 30-70 bps since February 2025."

Updated : Jun 6, 2025

FD rates falling after RBI's big rate cut: Why FD investors must act now to avoid losing lakhs

Fixed deposit investors are feeling the heat as the RBI slashes the repo rate to 5.5%—its third cut in 2025. With FD rates already slipping by up to 70 bps, experts urge savers to lock in high returns before they vanish.

One should note that the recent changes in the New Tax Regime have eliminated the income tax benefits associated with home loans.

Updated : Jun 6, 2025

Homebuyers alert: RBI's next rate cut could bring EMIs under 7.75% — should you refinance your home loan?

All eyes are on the Reserve Bank of India (RBI) as it prepares to announce its monetary policy decision on June 6, 2025. With retail inflation staying below the central bank’s 4% target for the third consecutive month, economists are optimistic about a 25-basis point rate cut to further support growth.

The RBI is still printing and circulating new ₹500 notes in the Mahatma Gandhi (New) Series, demonstrating their ongoing reliance on this denomination.

Updated : Jun 4, 2025

Rs 500 note to be scrapped in 2026? PIB says Rs 500 note still legal tender

A viral video claiming that ₹500 notes will be discontinued from March 2026 has sparked widespread confusion. The Press Information Bureau (PIB) has debunked the claim, confirming that no such RBI directive exists and ₹500 notes remain legal tender.

Updated : Jun 3, 2025

PNB reduces student loan rates to 7.5% under PM Vidyalaxmi; check eligibility, benefits

Punjab National Bank (PNB) has reduced interest rates on education loans under the Pradhan Mantri Vidyalaxmi Scheme, offering new relief to aspiring students. The scheme provides collateral-free, guarantor-free loans to meritorious students admitted to top-ranked higher education institutions in India.

To enhance the security of your investment, regular independent third-party audits are carried out to confirm that the physical gold stored in vaults exactly corresponds to the digital gold units in circulation.

Updated : May 30, 2025

Is my digital gold securely backed by physical gold and protected against risks?

Every unit of digital gold you purchase is backed by an equivalent amount and finesse of physical 24-karat gold, securely stored in bank-grade, insured vaults.

Taxpayers must note that the deadline to receive Form 16 and Form 16A TDS certificates is fast approaching on June 15, 2025.

Updated : May 29, 2025

Big money changes coming from June 1: EPFO 3.0 roll-out, FD rates, credit card charges & more

From EPFO’s long-awaited 3.0 upgrade and revised FD interest rates to sweeping credit card fee changes and Aadhaar update deadlines, these updates impact everything from your tax filings to your everyday transactions.

According to the RBI, UPI handled a staggering 11,761.4 crore transactions in FY2025.

Updated : May 29, 2025

Digital payment volume up 34.8% in FY25, UPI accounts for Rs 180 lakh crore: RBI report

India’s digital payments ecosystem saw robust growth in FY2024–25, with transaction volumes rising 34.8% and UPI alone accounting for 84% of retail digital payments, the RBI said in its annual report. UPI processed over 11,761 crore transactions worth ₹180.24 lakh crore during the year, marking a 59.2% surge in volume and 44.8% rise in value.

According to the bank’s PayLater page and FAQs, the service has been stopped “as per internal policy.”

Updated : May 28, 2025

No more UPI credit: ICICI Bank discontinues PayLater facility for all users

ICICI Bank has ceased its PayLater service on UPI from 8th May 2025, affecting all customers. The service, popular for deferred payments, is discontinued as per internal policy. Existing dues remain payable with no impact on other banking services.

Customers have until June 30, 2026, to complete their periodic KYC updates, a move aimed at easing the burden on both banks and account holders.

Updated : May 24, 2025

Struggling with dormant bank accounts? RBI proposes video KYC, simpler access

The draft proposal, announced on May 23, 2025, mandates that banks provide KYC updation facilities at all branches, including the customer’s home branch.

The Reserve Bank of India has already flagged concerns around rapid unsecured credit expansion, hiking risk weights

Updated : May 22, 2025

'Any bank offering 6–7% in a savings account is a red flag': CIO breaks down the real risk

The concern isn’t about deposit safety—Chadha clarified that scheduled commercial banks remain secure for savers—but about what these interest rates signal under the hood.

The free transaction limits comprise of five free ATM transactions at own-bank ATMs per month, three free transactions at other-bank ATMs in metro cities.

Updated : May 20, 2025

ATM withdrawals get costlier: HDFC, SBI, ICICI, others are charging this much post free transactions

The revised ATM withdrawal rule affects all commercial banks, including regional rural banks (RRBs), cooperative banks, authorised ATM network operators, card payment network operators, and white-label ATM operators.

Most financial advisors suggest keeping 2–3 well-chosen credit cards for optimal long-term management.

Updated : May 20, 2025

HDFC Bank revises lounge access rules on Tata Neu Infinity card starting June 10; check details

HDFC Bank has updated its lounge access policy for Tata Neu Infinity credit cardholders, requiring milestone-based spending for domestic lounge vouchers. New rules include complimentary international lounge access and various insurance covers.

Canara Bank lowers its MCLR, offering home loan interest rates starting at 7.80%, while HDFC Bank reduces its MCLR by up to 15 basis points.

Updated : May 14, 2025

Homebuyers, rejoice! Your next EMI could be cheaper with some banks — Is it time to refinance your EMI?

State-owned lenders such as Bank of Baroda, Punjab National Bank (PNB), and Canara Bank have recently announced reductions in their MCLR rates across different time periods, with the changes set to take effect from May 2025.

The bank has notified individuals with its debit card that insurance-related benefits will no longer be available after July 20, 2025.

Updated : May 10, 2025

Cardholders alert: Kotak Mahindra Bank tweaks insurance benefits from its debit cards; check key details

Kotak Mahindra Bank is set to discontinue insurance benefits like personal accident cover and purchase protection from its debit cards, affecting cardholders.

Borrowers linked to these MCLR rates may experience lower EMIs or adjusted loan terms, depending on the nature of their agreements and reset periods.

Updated : May 7, 2025

HDFC Bank slashes MCLR rates, effective from May 7, 2025; check updated rates

The revised rates see the overnight and one-month MCLR reduced by 10 basis points to 9.00%. Additionally, the three-month MCLR has been cut by 15 basis points to 9.05%, while the six-month rate now stands at 9.10%.

Bank of Baroda has pdated its Marginal Cost of Lending Rate (MCLR), effective from April 12, 2025, with the overnight MCLR set at 8.15% and the one-year MCLR at 9%.

Updated : May 6, 2025

Bank of Baroda slashes home loan rates for over Rs 15 lakh; check rates, compare with other banks

Bank of Baroda has revised the home loan rates starting at 8% for loans over Rs 15 lakh, dependent on credit scores, with recent reductions benefitting existing borrowers linked to the repo rate.

Key changes include a reduction in response time from 30 to 10 seconds, significantly enhancing transaction efficiency for users.

Updated : May 2, 2025

UPI users would experience better transaction services from June 16; know why

The NPCI announced a reduction in UPI transaction response times beginning June 16, 2025, aiming to improve the user experience.

Shivalik SFB's new rates range from 3.50% to 8.20% for general customers and from 4% to 8.70% for senior citizens.

Updated : May 2, 2025

FD rate revisions: Shivalik Small Finance Bank, IDFC FIRST Bank tweak rates for savings account, fixed deposits

Shivalik Small Finance Bank and IDFC FIRST Bank have revised their savings account and fixed deposit interest rates, effective May 1, 2025, with rates now reaching up to 8.70%.

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Banking

ICICI relationship manager used senior citizens’ money to trade derivatives, held for Rs 4.58 cr scam

RBI hikes LTV ratio to 85% for gold loans under Rs 2.5 lakh, eases rules for small borrowers

Electric car loans get cheaper as PNB lowers rate below petrol, diesel vehicles

FD rates falling after RBI's big rate cut: Why FD investors must act now to avoid losing lakhs

Homebuyers alert: RBI's next rate cut could bring EMIs under 7.75% — should you refinance your home loan?

Rs 500 note to be scrapped in 2026? PIB says Rs 500 note still legal tender

PNB reduces student loan rates to 7.5% under PM Vidyalaxmi; check eligibility, benefits

Is my digital gold securely backed by physical gold and protected against risks?

Big money changes coming from June 1: EPFO 3.0 roll-out, FD rates, credit card charges & more

Digital payment volume up 34.8% in FY25, UPI accounts for Rs 180 lakh crore: RBI report

No more UPI credit: ICICI Bank discontinues PayLater facility for all users

Struggling with dormant bank accounts? RBI proposes video KYC, simpler access

'Any bank offering 6–7% in a savings account is a red flag': CIO breaks down the real risk

ATM withdrawals get costlier: HDFC, SBI, ICICI, others are charging this much post free transactions

HDFC Bank revises lounge access rules on Tata Neu Infinity card starting June 10; check details

Homebuyers, rejoice! Your next EMI could be cheaper with some banks — Is it time to refinance your EMI?

Cardholders alert: Kotak Mahindra Bank tweaks insurance benefits from its debit cards; check key details

HDFC Bank slashes MCLR rates, effective from May 7, 2025; check updated rates

Bank of Baroda slashes home loan rates for over Rs 15 lakh; check rates, compare with other banks

UPI users would experience better transaction services from June 16; know why

FD rate revisions: Shivalik Small Finance Bank, IDFC FIRST Bank tweak rates for savings account, fixed deposits

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