Around 85% of the Rs 2000 notes are deposited in the bank accounts and not exchanged for smaller denominations. Thus, bank deposits are likely to increase by atleast Rs 2 lakh crore
HNIs are preferring bank FDs over the debt mutual fund following the new taxation rules for the funds that kicked in from April 1
The interest rates at ESAF Small Finance Bank (SFB) were raised on deposits of less than Rs 2 cr
The return on post office term deposits of two years under the small savings schemes is 6.9 per cent, the same as offered by most banks on deposits of similar maturity
In the bulletin, the RBI said that the Indian economy is unlikely to face any major repercussions from the ongoing global financial turmoil
Company is losing balances in savings as well as fixed deposits to competitors, it says
The rate on 12-month deposit would be increased to 7.20%, 7.50% for a tenure of 24 months and for 36 months it would be 7.50%
The revised rates will be effective from December 12
Lock into one-two year FDs and continue laddering, say experts
Revised rates applicable on fresh deposits and renewals
While you may begin allocating to them, keep some powder dry as rates could rise further
Rate applicable to both fresh deposits and renewals of up to Rs 2 crore for a tenure of 600 days, seniors to get 0.5% more
For 1 year to less than 2 years, SBI is offering 6.10% as compared to 5.60% earlier
For tax-efficient exposure, go for TMFs maturing in 2026-2028
The YTM of most debt funds tops 6.5%, indicating that they can at least do better than FDs in the near future
For periods longer than 3 years, it is a good idea to explore debt mutual funds that offer indexation benefits and lower the tax outgo
The sharp reversal in the interest rate regime by global central banks and high inflation has eroded returns from equities. Where should an investor, with a surplus investable amount, put their money?
Court permits Xiongwei Li to travel abroad after providing a FDR of Rs 5 crore
Since predicting peak rate is impossible, deploy in tranches over the next few months
The CBI on Wednesday visited Mondal's Nichupatti residence in Bolpur to question his daughter but left within 10 minutes after Sukanya refused to talk to them.