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Credit line on UPI: From RuPay cards to pre-sanctioned loanshow it works and what users need to know
A credit line on UPI lets eligible users make payments using pre-sanctioned credit instead of their bank balance. Here's what you need to know about interest-free and interest-bearing credit lines and their use across UPI features.
Starting home loan rates vary from 7% to 7.45% among various banks. A 0.25% rise in interest can increase monthly payments significantly. It is crucial for borrowers to assess their financial needs and lender fees before applying.
NSEs IPO anchor book saw mutual fund schemes receive shares worth nearly 2,495 crore. Here are the top 10 schemes with the largest allocations and what their exposure means for existing investors.
A regular salary isn't the sole indicator of financial health. Insurance, savings, debt, and retirement planning are crucial. SEBI's Financial Health Check quiz helps evaluate your financial habits and suggests improvements.
Gwalior is set to establish Asia's first dedicated Telecom Manufacturing Zone. This ambitious project will attract approximately 5,500 crore in investment. Over 18,000 direct employment opportunities are expected to be generated. The zone will house 24-25 telecom manufacturing units and related components. This initiative aims to transform Gwalior into a major telecom manufacturing hub.
Property sale in India: NRI sellers face different TDS rules from residentshere's what to know
Selling property in India can trigger very different TDS rules for NRI and resident sellers. While buyers generally deduct 1% TDS on qualifying purchases from residents, NRI property sales are taxed differently, with the deduction linked to applicable capital gains tax rates.
Domestic steel prices are expected to remain firm this September. Post-monsoon construction activity is gradually recovering, supporting demand. Maintenance-related supply constraints will further support rebar prices. Rebar prices are predicted to outpace hot rolled coil price increases. Steel consumption remained supportive with finished steel consumption rising.
Karnataka medical institute opened by PM plans free cancer immunotherapy for patients
The Sri Madhusudan Sai Institute plans to offer free immunotherapy for cancer patients. A new 600-bed hospital will soon launch on campus, expanding free medical services. Modern genomics treatment is already initiated, and rare disease research is underway. The mission has invested significantly in service initiatives and seeks corporate and international support. Free paediatric healthcare and nutrition programs are also highlighted as key achievements.
5 lessons from The Diary of a CEO: The 33 Laws of Business and Life by Steven Bartlett
Steven Bartletts The Diary of a CEO examines key habits that influence personal and professional growth. It emphasises the importance of knowledge, skills, and gradual improvements.
Active mutual funds are expected to take different bets from their benchmarks. But mid-cap fund portfolios show a wide variation in benchmark overlap. Here's what this difference means for investors and whether taking more active bets translates into better returns.
The Agro Chem Federation of India suggests a significant government support program. This initiative aims to boost the country's self-reliance in agrochemical production. The federation proposes incentives and subsidies to counter China's cost advantage. It also calls for developing capabilities in product development and biologicals. Strengthening ecosystem competitiveness is key for future growth in crop protection.
Coal India Limited announced its ambitious business development portfolio on Sunday. This plan focuses on five key platforms for future expansion and growth. Initiatives include coal gasification, thermal power, and renewable energy ventures. The company will also explore critical minerals and advanced materials. This diversification aims for energy and mineral security and import substitution.
The EPFO wage ceiling has risen from 15,000 to 25,000, bringing over 51 lakh employees into coverage. Know how the change could affect EPF deductions, employer contributions, pension, and EDLI insurance.
Assam CM Himanta Biswa Sarma laid foundation stone for Adani Powers 3,200 MW project
Assam's Chief Minister laid the foundation stone for a 3,200 MW thermal power plant. This significant project represents an investment of approximately Rs 48,000 crore in Dhubri district. The plant is expected to create substantial employment opportunities during its construction and operational phases. This initiative is part of a larger Rs 63,000 crore power investment planned for Assam.
United Forum of Bank Unions (UFBU) proposed three-day strike from September 28 to 30, 2026. SBI issued an advisory on banking services, UPI, ATM and more.
Ayurveda needs stronger evidence, safety monitoring for market adoption, says CCRAS
Ayurveda needs stronger scientific evidence and safety monitoring for wider adoption. The Central Council for Research in Ayurvedic Sciences stressed this at a symposium. Discussions focused on safety and evidence-based care for non-communicable diseases. The council highlighted its work in public health and traditional medicine. Strengthening pharmacovigilance is crucial for patient safety in Ayurveda.
Senior citizens can earn up to 7.45% yearly interest. Earnings vary by bank and deposit period. Check the details.
Ashiana Housing to invest Rs 1,000 cr in FY27 to acquire land for expansion: MD Vishal Gupta
Realty firm Ashiana Housing will invest 1,000 crore this fiscal to acquire land across major markets like Delhi-NCR, Rajasthan, Maharashtra, and Tamil Nadu. Specialising in senior living, the company aims to sustain sales after hitting 2,400 crore pre-sales last fiscal, despite reporting structural industry delays and rising labor costs.
Tessolve in talks to acquire two firms, eyes USD 500 million revenue in 3-4 years
Hero Electronix's semiconductor engineering arm, Tessolve, is negotiating to acquire two companies in the US and India to expand its global footprint and capabilities. Targeting $500 million ($4,700 crore) in revenue within three to four years, the AI-focused firm expects to exceed $2,000 crore this fiscal year while considering a potential IPO.
Ahmedabad advocate Utkarsh Dave has sent a legal notice to PVR INOX for refusing to accept cash for movie tickets and food, questioning their cashless-only policy. Check rules here.
Three multi-asset allocation funds delivered over 14% in one year, led by 360 ONE at 19.91%, while Quant and Kotak followed. But the category's largest funds by AUM saw varied returns, with ICICI Prudential at 3.54% despite managing 87,833 crore.
Health insurance add-ons can cover expenses such as consumables, OPD treatment and hospitalisation-related costs, but each rider can increase your premium. Experts explain which add-ons may be useful and what policyholders should check before buying them.
ICAI working with Tirumala Tirupati Devasthanams for REITs to monetise land assets
ICAI is helping Tirumala Tirupati Devasthanams modernise how it manages its vast assets, from land and gold to accounting systems. The institute is working on an updated accounting manual and exploring REITs to monetise TTDs land holdings. The framework could eventually serve as a model for other major temple trusts.
Invesco Mutual Fund will resume fresh subscriptions in three overseas Fund of Funds from September 28, 2026, allowing lumpsum investments, switch-ins and new SIP, STP and IDCW Transfer Plan registrations. Investors face a 10 lakh daily limit per PAN, including existing systematic-plan instalments.
Samsungs big AI bet is getting younger in India
Cambridge backs flexible schooling, aligns curriculum with NEP 2020 vision: Officials
Cambridge offers schools flexibility in subject selection, aligning with India's NEP 2020. This approach supports learner-centred education and moves away from rigid academic streams. Students can progressively make choices as their interests and strengths develop. Early assessment and exposure to subjects help learners understand their potential.
New EPF wage ceiling: What changes for your PF, pension and insurance
The revised EPFO ceiling of 25,000 a month, effective 17 September, will affect employees differently depending on their existing PF status, wages and contribution structure.
ICAI prepares reforms for creating larger accounting firm networks; proposals expected in two months
ICAI plans to propose reforms within two months to help Indian accounting firms scale up and compete globally. The proposals include recognising aggregation structures, allowing capital infusion, easing rules on non-assurance services, and expanding professional networks to include lawyers, engineers, architects and other professionals.
The Madras HC upheld the cancellation of an employee's ST certificate after authorities found that he belonged to the Urali Gounder community. The court also refused full pension and other terminal benefits, ruling that retirement does not prevent verification of an old community certificate.
A Reddit user faced heavy finance charges after missing a credit card payment by just 431. Here's all you need to know about the consequences of not paying credit card bills by the due date.
Supertech insolvency: NCLAT raises concern over delay in appointing IRP, slippage on deadline
Concerns have been raised by the NCLAT regarding NBCC's significant delays in the construction of Supertech projects, while criticism mounts over the sluggish pace in appointing an interim resolution professional. The tribunal has instructed the NCLT and IBBI to provide names within a week, as NBCC grapples with the inability to meet earlier project deadlines. A meeting is on the horizon to solidify the timeline for starting construction.
NMDC looks to hit 60 MT iron ore production mark this fiscal: Chairman
NMDC is working on strategies to achieve the 60 MT iron ore production mark this fiscal to meet growing demand from domestic steelmakers for the key raw material, its Chairman Amitava Mukherjee said. Aligned with the National Steel Policy 2017, which targets an installed domestic steelmaking capacity of 300 MT by 2030-31, NMDC, India's largest iron ore producer, aims to scale its output to 100 MT during the period. Having crossed the 50 MT milestone in FY2026. NMDC is now aggressively executing a production ramp-up plan to reach 60 MTPA from existing iron ore mines, complemented by NMDC-CMDC Limited (NCL) joint venture assets this fiscal, which would be a rise of around 20 per cent year-on-year, the top company official said in an interaction. Mukherjee shared that the company has already applied for environmental clearances (ECs) for some deposits with the Union Ministry of Environment, Forest and Climate Change. On a question related to the 100 MT production goal, Mukherjee sai
Digital gold may come under RBI, SEBI oversight: What physical gold backing could mean for investors
The government is considering bringing digital gold under RBI and SEBI oversight, with a proposal for every digital unit to be backed by equivalent physical gold. The move could bring stricter rules on vault holdings, audits and investor protection.
Mutual fund NFOs: 2 new funds will open for subscription this week. Check dates and key details
Two new passive funds will open for subscription this week, including Zerodha Nifty Next 100 ETF and Motilal Oswal Nifty REITs & Realty Index Fund. The funds will have minimum investment amounts of Rs 1,000 and Rs 500, respectively.
International funds lead weekly returns; frontrunner delivers over 30%. Check top 5 performers
Equity mutual funds delivered mixed returns last week, with international funds dominating the top performers. Mirae Asset S&P 500 Top 50 ETF FoF led with a 32.47% return, while DSP World Mining Overseas Equity Omni FoF was among the biggest decliners.
Lupin and Radico among 5 midcap stocks sold by mutual funds in August
Mutual funds sold several midcap stocks in August, with Paytm recording the highest net selling at Rs 3,074 crore. Aster DM Healthcare, Meesho, Lenskart and Piramal Finance also featured among the top five stocks sold, according to Dolat Capital.
More than 150 companies have fixed record dates for dividends and stock splits between September 21 and September 25. IRCTC, BEML, Hindustan Copper, Cochin Shipyard and others feature among the stocks with corporate actions scheduled this week.
Seven equity mutual funds multiplied investors money by more than 12 times over 20 years, led by Nippon India Growth Mid Cap Fund at 21.2 times, according to a Wealth Conversations Report by FundsIndia
NRIs can transfer money from NRO to NRE account, but what is the annual limit? Check details here
NRIs transferring money in India must choose between NRO and NRE accounts. NRO accounts manage local income, while NRE accounts are for foreign earnings. Check fund transfer rules and limit between the two accounts.
The winning: Brands and audiences are hungry for celebrities with distinct, dependable style
In the social-media era, personal style has become a valuable business asset for celebrities and influencers. Authentic, recognisable fashion identities can generate massive media value, attract brand partnerships and help luxury labels enter Indias market.
PFRDA has issued final operational guidelines for NPS Swasthya, specifying healthcare withdrawals, insurance cover, contributions and exit rules. Subscribers can withdraw up to 25% of their contributions for eligible healthcare expense.
Health insurance add-ons can plug specific gaps in a policy, but experts say consumers should first ensure that their base sum insured is adequate. Before paying extra for riders, policyholders should compare the extra premium with the actual benefit, exclusions, waiting periods and costs.
EPF wage ceiling hiked from 15,000 to 25,000 : Will your take-home salary fall? Experts explain
The Union Cabinet has approved a raise in the EPF wage ceiling, effective September 17, 2026. This change may increase deductions and reduce take-home salaries for affected employees. Here's who will see a change.
Credit card utilisation: Does the 30% rule apply to each card or all cards combined?
Keeping overall utilisation below 30% can be crucial for maintaining a healthy credit score. Here's whether the 30% rule apply to each card or all cards combined.
A credit card holders revolt shows where our financial attention goesand where it should be going.
Small Indian creators have started posting on China's Bilibili, often called China's YouTube, using workarounds such as VPNs and changed location settings, even though the platform has not launched in India and the country is not among its listed international markets.
The residential sector in India is supported by strong demand and lifestyle aspirations. A Colliers report indicates resilient housing sales, driven by long-term homeownership and selective purchasing amid affordability concerns.
Amid strike threat, Fin Secy Sanjay Lohia calls bank chiefs' meet to ensure services
Financial services secretary Sanjay Lohia has called a meeting with public sector bank, RRB and NABARD heads on Monday to ensure uninterrupted banking services during a proposed three-day strike from September 28. AIBEA is demanding a five-day banking week and has warned of an indefinite strike from October 26 if its demand remains unresolved.
Eternal's Zomato and Blinkit, and Meesho's Valmo have facilitated ITR for over 2 lakh delivery partners, unlocking 35.6 crore combined in refunds. Over 70% of filers were first timers, the companies added.
Railways has approved multiple infrastructure and safety projects across the country, including Kavach 4.0 installation on 607.7 route kilometres in Lucknow Division at Rs 252 crore, Electronic Interlocking at seven Solapur Division stations for Rs 209 crore, a 1x25 kV to 2x25 kV traction upgrade on the Savalyapuram-Guntur section for Rs 142 crore, and a four-lane road overbridge in Gujarat costing Rs 133.2295 crore. The projects aim to strengthen railway safety, signalling, traction capacity and operational efficiency.
FinMin To Meet PSB, RRB Chiefs On Monday To Ensure Banking Services During Three-day Strike
The Finance Ministry has called a meeting of chief executives of public sector banks and regional rural banks on Monday to discuss measures to ensure continuity of banking operations and essential customer services during the three-day strike.
The actual protection available depends on the terms and conditions of the policy, including its coverage, exclusions, waiting periods, deductibles, co-payments and sub-limits
Chip majors make beeline for Semicon to build wider ecosystem with Indian talent
The government has announced the Semicon 2.0 scheme with an incentive of around Rs 1.27 lakh crore or USD 13.5 billion to build the semiconductor ecosystem. Union Minister Ashwini Vaishnaw said investment proposals worth USD 12 billion are likely to come under the new scheme for chip production.
Indian pilots are urging a thorough investigation into the Boeing 787's electrical systems. This follows a fatal Air India crash which killed 260 people last year. Evidence of chronic system failures has reportedly been shared with the probe agency. The Federation of Indian Pilots wants a detailed examination of all electronic components. This comprehensive evaluation is crucial for determining the accident's cause.
Wider acceptance of UPI abroad benefits Indian tourists, students and business travelers by allowing use familiar mobile apps for payments instead of reliance on international debit or credit cards.
FinMin to meet PSB, RRB chiefs on Monday to ensure banking services during 3-day strike
Finance Ministry will meet bank executives on Monday. They will discuss continuity of banking operations during a three-day strike. The United Forum of Bank Unions called the strike for September 28. This strike will impact banking services for five days. Bank unions demand a five-day banking week and pension updates.
Potential US tariffs could significantly harm India's textile and apparel exports. The industry body CITI is urging the government to engage with Washington urgently. This action is needed to protect Indian exporters from competitive disadvantages in the US market. A balanced trade agreement between India and the US is considered an urgent necessity. While free trade agreements offer potential, they cannot replace the US market's importance.
EPS higher pension: BJP MP writes to PM Modi over delays, Para 26(6) hurdles for retirees
MP Ajeet Madhavrao seeks removal of administrative impediments caused by Para 26(6) of the EPF Scheme
NLC India targets large-scale pumped storage projects in Tamil Nadu, Odisha
The company is developing clean energy through its dedicated green arm, NLCIL Renewables Ltd (NIRL). The PSU is targeting to increase its operational renewable energy portfolio from 1.8 GW to over 10 GW by 2030, with a long-term target of 32.7 GW by 2047, as part of its strategy to achieve a 50 per cent clean energy mix in its generation portfolio ahead of schedule, the Coal Ministry said in the statement.
Domestic LPG consumers must complete Biometric Aadhaar Authentication for subsidised cylinder refills. This authentication process is mandatory from October 1, 2026, for all eligible users. Consumers who have already completed the process need no further action from their end. Those who do not authenticate will receive cylinders at market prices without any subsidy. Assistance for this process is available through various digital channels and a toll-free helpline.
EPFO: What is scheme certificate? Eligibility and requirement explained
All provident fund members who have an account for over 10 years, are provided with pension benefit. You can withdraw PF in full and choose to maintain annuity in the pension scheme by submitting Form 10C and availing a Scheme Certificate.
Non-fossil sources account for 54.18 pc of India's installed electricity capacity: Bhupender Yadav
The minister said India ranks third globally in renewable energy-installed capacity and is the world's second-largest solar-growth market, demonstrating that economic growth and climate action can advance together. He made these comments during the inauguration of the National Green Tribunal's (NGT) two-day international conference here on The Future of Environment and Climate Dynamics.
PE investments in flex office spaces rise to USD 30.9 mn in H1 2026: Knight Frank India
Private equity investment in India's flex office sector hit USD 30.9 million across two deals in H1 2026, already above the USD 24.3 million invested through four deals in all of 2025, says a Knight Frank India report.
The Indian Railways has greenlit the construction of a four-lane Road Over Bridge, with a budget exceeding 133 crore rupees. This initiative aims to streamline both road and rail traffic, enhancing overall accessibility. In addition, three multitracking projects, worth 10,783 crore rupees collectively, have been sanctioned to boost freight capacity and connectivity across five states, marking a significant investment in transport infrastructure.
Karnataka ranks third in NITI Aayogs electric mobility index, tops charging readiness
Karnataka has ranked third nationally in NITI Aayogs India Electric Mobility Index 2025, scoring 73 and emerging as one of the countrys top-performing states on EV adoption and infrastructure. The state recorded the highest score in charging infrastructure readiness at 97, with 6,979 charging stations and nearly 15% EV penetration in the first five months of FY27.
Delhi-Meerut-style RRTS in Assam: Assam is exploring a Delhi-Meerut-style RRTS network, with preliminary talks underway with the Asian Development Bank. The proposed Assam Rapid Transit System could connect key growth areas and improve regional connectivity. Chief Minister Himanta Biswa Sarma said a blueprint is being discussed, while routes, project cost, stations and implementation timelines are yet to be finalised.
Higher EPS pension: Ruling party MP urges PM Modi to ensure uniform, time-bound implementation
BJP Rajya Sabha MP Ajeet Madhavrao Gopchade has urged Prime Minister Narendra Modi to intervene in pending higher EPS pension issues. He highlighted procedural hurdles under Para 26(6), continuing litigation, pending Parliamentary Assurance No. 271/72, financial sustainability concerns and differing pension treatment among trust employees. He sought uniform implementation, faster disposal of eligible claims and a comprehensive review of EPS-1995.
NTPC terminates Rs 413 crore Mouda BESS contract after contractor default
NTPC Ltd has terminated a Rs 413.37 crore contract awarded to GR Infraprojects Ltd (GRIL) for a 400 MWh Battery Energy Storage System (BESS) project at its Mouda Super Thermal Power Station in Maharashtra, citing failure to meet contractual obligations and required project progress.
AdNexa.ai bets on OneView to bring accountability to enterprise media spending
AdNexa.ai is combining media strategy, technology, execution and accountability through its OneView platform as it targets enterprise media spending and expands across Europe. The platform connects media insights with near real-time execution, integrating 15 platforms and running thousands of automated checks across social, search and programmatic media. The company says its automation has cut manual effort by about 90%, while its Advanced Audit helps brands identify inefficiencies and potential efficiency gains.
Punjab has announced an 8% increase in dearness allowance for eight lakh state government employees and pensioners. CM Mann said his government understands responsibilities shouldered by its employees and the pressures they face in personal and professional lives.
When doctor is at home: Technology enables 24x7 monitoring beyond hospital
A new technology offers continuous remote health monitoring for patients at home. This system helps individuals recovering from surgery and the elderly stay supervised. Patients receive regular check-ins and immediate advice for any health abnormalities. The technology uses biosensors to track vital signs and prevent emergencies. This innovation provides reassurance and timely medical support for many individuals.
Income Tax Rules 2026 amended: CBDT revises Form 169, Form 171; extends these deadlines
The Central Board of Direct Taxes has rolled out significant amendments to income tax regulations for 2026, particularly affecting electronic communication and tax recovery processes. The deadlines for registering valuers and income tax professionals have been pushed back, allowing applicants until March 31, 2027, to finalize their registrations.
Warren Buffetts 5 investing lessons every investor should know
Warren Buffett is stepping down as chairman of Berkshire Hathaway after over 50 years. At 96, he will remain a director while his son Howard takes over.
Bangalore landowners get relief from undisclosed rental income tax notice after proving in ITAT that their partnership firm received the rent. What happened was, five Bangalore landowners signed JDA with builder, later formed partnership firm to develop property; but then the landowners got undisclosed rental income tax notice.
In a game-changing move for FASTag users, the newly launched 'OneTag' portability feature enables individuals to transition their issuer bank without losing their current physical tag. This innovative service mandates a fresh Know Your Customer verification to initiate the portability. Subsequent to the successful switch, the initial bank will deactivate the old wallet and refund any remaining balance.
Homebuyer caught between builder and housing society dispute over parking space and open area; Maharashtra Court protects buyers parking rights. Read the article to know how.
Gland Pharma and CAMS among 5 smallcap stocks sold by mutual funds in August
Gland Pharma, LIC Housing Finance, Gujarat Energy, CAMS and Amber Enterprises India saw the highest mutual fund selling among smallcap stocks in August, according to Dolat Capital.
Tata Steel seeks fresh UK government funding as Port Talbot EAF project faces delays: Report
Tata Steel has requested additional UK government funding for its Port Talbot plant. Delays in the plant's transformation are increasing project costs significantly. This request follows a substantial 500 million grant awarded last year. The electric arc furnace commissioning date has been pushed back. Britain's steel industry faces ongoing pressure from these developments.
Rohit Sharmas TV debut draws eight sponsors for Sonys family game show
Rohit Sharmas entertainment debut,Family Full House with Rohit Sharma, has signed eight sponsors ahead of its premiere on Sony Entertainment Television and Sony LIV. Skoda, PhonePe and Google Search AI Mode are among the top sponsors, as Sony looks to leverage Sharmas popularity and the family-game format for brand integrations.
Borrowers' capacity for home loan repayments depends on various factors such as income stability and existing expenses. Here's how much home loan EMI a person can comfortably afford on different income levels.
EPS pension after 25,000 wage ceiling hike: Who can get 12,500 monthly? Check out the calculations
The EPS pension can rise after the EPFO wage ceiling is increased to 25,000. Here is how the 12,500 monthly pension figure is calculated, who may qualify and what employees should know.
Rule of 72 explained: How long will 1 lakh take to double at 6%, 8% and 10%?
The Rule of 72 is a simple way to estimate how long an investment may take to double. See how 1 lakh could double at 6%, 8% and 10%, and understand why compounding matters.
Car loan interest rates at PSU banks start at 7.35% in September 2026. Compare SBI, Bank of Baroda, UCO Bank and other lenders on interest rates, EMIs, processing fees and prepayment terms before borrowing.
CGHS eligibility rules changed: Central govt employees outside covered areas can now opt for CGHS
The government has removed the geographical restriction for CGHS eligibility for serving Central government employees, allowing eligible employees outside covered areas to make a one-time switch to CGHS, subject to prescribed conditions and contribution.
Up to 7.50% interest rate on 555-day FD: Check highest rates for general and senior citizens
FD interest rates: Many banks are currently promoting compelling interest rates for 555-day fixed deposits. While general depositors can enjoy rates of up to 7.25%, senior citizens benefit even more, with rates peaking at 7.50% for the same duration. Notably, City Union Bank and Karnataka Bank offer competitive options. It's advisable for depositors to check the latest rates before making any decisions on fixed deposits.
Explained: When should mutual fund investors use CAGR, XIRR or IRR to calculate returns?
CAGR, XIRR and IRR are commonly used to measure mutual fund returns, but each serves a different purpose. While CAGR is suited to lumpsum investments, XIRR helps calculate returns from irregular cash flows such as SIPs. IRR can be used to assess returns from investments involving multiple cash flows over time.
Home loan nearly over? 5 things to do with the EMI you are about to save
Home loan nearly repaid? Here are five financial moves to make with the freed-up cash, from rebuilding your emergency fund and reviewing insurance to clearing costly debt and redirecting EMIs towards retirement savings.
CGHS new rule: Central government employees outside CGHS areas can now opt for CGHS
The central government has made it easier for employees to access CGHS facilities without geographical limitations. This new directive allows serving employees situated outside of CGHS coverage areas to participate in the scheme, provided they fulfill all other eligibility criteria and pay the necessary contributions.
FCNR(B) scheme could yield Rs 5.5 trillion notional profit for banks, RBI: SBI Research
SBI Research indicates FCNR(B) deposits may yield substantial profits for banks and the RBI. The report refutes earlier estimates of significant financial losses from the scheme. Mobilized funds could support additional bank credit and generate considerable interest income. Hedging costs are considered manageable, and the RBI could see added profitability. This scheme's liquidity will support credit demand amid outflows and prudent risk management.
