SEARCHED FOR:SAVINGS ACCOUNT
Bank accounts opened under Pradhan Mantri Jan Dhan Yojana crosses 40-crore mark
The achievement comes just ahead of the sixth anniversary of PMJDY launch. The scheme was launched on August 28, 2014 with an aim to provide universal access to banking facilities to the people in the country.
People fear they’ve got too much cash in their bank accounts
The comfortable, if small, returns of high-yield savings accounts are looking le...
Equitas Small Finance Bank hikes interest on saving account deposits
In order to attract deposits, small finance lender Equitas Small Finance...
SBI relaunches Aadhaar-based online savings account opening facility
The 'insta savings bank account' will offer a complete paperless and instant digital savings account opening with just PAN and Aadhaar number, the bank said in a release.
PNB lowers rates on savings account deposits by 50 bps
Deposits of Rs 50 lakh and above will earn interest of 3.25 per cent as against 3.75 per cent currently.
How should the income from stock trading be accounted for tax purposes?
Since you have income from stock trading, you will need to use ITR-2 to file your tax return. However, if you are doing any intra-day trading, it shall be treated as speculative business and you will need to file your return in ITR-3.
IDFC First Bank launches video KYC facility for customers to open savings accounts
The zero-contact method completely does away with paper work or biometric verification, thereby removing physical interaction between the bank and customer from the know your customer (KYC) process, IDFC First Bank said in a release.
Is it time to move money from savings accounts to debt mutual funds?
Bank saving deposit rates are coming down and this definitely gives debt mutual funds an edge over the savings bank account in terms of post-tax returns. However, the comparison is not that easy.
Now open SBI instant saving account purely online using PAN, Aadhaar sans documents
The opening of State Bank of India (SBI) 'Insta Saving Bank Account' does not require an individual to visit their nearest SBI bank branch. The savings bank account can be opened from their home.
How to save enough to make tax-saving investments
Low income reduces one’s ability to save. For a young earner, the tax-saving instruments under Section 80C are perhaps the only avenues to accumulate some wealth.
RBI nudges banks to decide if red-flagged accounts are fraud
Last year, a spate of action by enforcement authorities resulted in many large borrowers being red-flagged. The RBI is now pushing banks to take a call on these loans. The red-flag account concept was introduced by the RBI to get banks to act on early warning signals, which include raids by regulatory and tax authorities.
View: Make every day a payday to bolster finances and reduce stress
There is a need to transfer cash to the individual to perk up the demand side of the economy. Giving people access to their money more quickly represents one small, but important, step to reducing an epidemic of employee financial stress.
How to access post office savings account online
There are two ways to access and download the statement of your post office savings account - Internet banking and mobile banking.
Small savings scheme, PPF rates remain unchanged
During the start of the first quarter of FY21, the government had lowered the rates on various schemes by as much as 1.4 percentage points. Interest rates on small savings schemes are reviewed and applied on a quarterly basis. At the end of the March, the government reduced the rates on time deposits from 6.9% in the last quarter of FY20 to 5.5% in Q1 of this fiscal.
Financial sector will need to be recapitalised, says Uday Kotak
"The banking sector's loan book is about Rs 100 lakh crore and the total capital of all banks in India is about Rs 11 to 12 lakh crore. So, if 4-5 per cent of loans turn bad due to COVID, the capital position of the banking sector will get impacted by about 40 per cent," Kotak said in the company's latest Annual Report.