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SCSS vs MIS: Which offers higher interest on a Rs 5 lakh investment?
Senior Citizens Savings Scheme offers a higher interest rate than the Post Office Monthly Income Scheme. An investment of five lakh rupees in SCSS yields approximately forty-one thousand rupees annually. The Post Office Monthly Income Scheme provides nearly thirty-seven thousand rupees in annual interest. SCSS offers tax benefits on principal investment under Section 80C of the Income Tax Act.
Indian Bank Q1FY27 profit up 10% at 3,273 crore
Total income grew to 20,724 crore during the quarter, up from 18,721 crore in the same quarter of FY26
YES Bank: Positive rating upgrades reflect sustained strengthening of credit profile
Credit rating agencies such as S&P, Moodys, ICRA and CareEdge have affirmed or upgraded the lenders ratings, citing stronger fundamentals and a stable outlook.
Confused about ITR forms? Check the right ITR for salaried, pensioners, students and other taxpayers
Salaried individuals, pensioners, and students must select the appropriate ITR form for AY 2026-2027. Taxpayers not requiring an audit can use ITR-1, ITR-2, or ITR-3 for their filings. The due date for filing income tax returns is July 31, 2027. Certain transactions necessitate filing an ITR even below basic exemption limits. Understanding these guidelines ensures accurate tax compliance for all individuals.
New tax regime: 7 smart ways salaried employees can reduce their tax while filing ITR in 2026
Planning to invest in largecap mutual funds for 3 years? Here are 5 top performers with 19% gain
Five Nifty Next 50 ETFs topped large-cap fund performance with annualised returns of nearly 19% over three years, while five BSE Sensex index funds lagged, delivering modest single-digit annualised returns between 6% and 6.7%.
Private banks to outperform PSU banks in earnings growth during FY26-28: MOFS
The report predicts credit growth in the mid-to-high teens for FY27, with private sector banks expected to outperform public sector banks
Nithin Kamath's remarks spark public spat between Zerodha and Groww over direct mutual funds
Zerodha's Nithin Kamath and Groww are debating direct mutual fund offerings publicly. Kamath reiterated Zerodha's commitment to free direct mutual fund plans. Groww clarified that its optional subscription service does not replace direct mutual funds. Direct mutual funds remain free for do-it-yourself investors on Groww. This debate highlights shifts in India's investment platform industry.
Equity mutual fund inflows jump 26% to Rs 28,973 crore in June; midcap funds lead flows
Equity mutual fund inflows saw a significant surge in June, reaching Rs 28,973 crore. Midcap funds attracted the highest investor interest, followed by small cap and flexi cap funds. Sectoral and thematic funds experienced a substantial jump in inflows during the month. Conversely, dividend yield and ELSS funds continued to witness outflows. This data reflects investor activity as reported by AMFI for the month.
Taxpayers can reset their Income Tax e-filing portal passwords without a registered mobile number. Options include using a Digital Signature Certificate or net banking facilities. If these are unavailable, an email request with necessary documents can be sent.
Edelweiss Mutual Fund announces restriction on fresh subscription in 7 funds
Edelweiss Mutual Fund will halt new SIP and STP subscriptions in seven schemes. This suspension takes effect from July 10, 2026, impacting international and sectoral funds. Existing systematic transactions will continue as usual without any changes. The fund house cited nearing overseas investment limits as the primary reason for this decision. Investors were previously informed about subscription caps on these specific schemes.
HDFC Defence Fund raises stake in Mazagon Dock, Tata Motors and 3 others in June
The HDFC Defence Fund boosted its holdings in Mazagon Dock and Tata Motors during June. It also added shares of Bharat Electronics, BEML, and Bosch to its portfolio. The fund completely exited Rishabh Instruments, selling its entire stake. Seventeen existing stock exposures remained unchanged, including Bharat Forge and HAL. The fund's performance has outperformed its benchmark in shorter timeframes.
NFO Insight: Can the NJ Momentum Fund help investors capture market momentum?
NJ Mutual Fund has launched the NJ Momentum Fund, an NFO that seeks to capture strong price trends through a rules-based momentum strategy backed by quality filters. While experts see momentum as a useful satellite allocation, they advise limiting exposure and caution that investors may be better off choosing proven, lower-cost existing momentum funds.
Term insurance offers protection, but an accidental death rider provides additional payout. This rider is an optional add-on, not a replacement for base coverage. It specifically covers fatalities directly resulting from accidents like road or air mishaps. Individuals in high-risk occupations or frequent travelers should consider this rider. However, increasing base term cover is prioritized if existing life insurance is insufficient.
Parag Parikh Flexi Cap Funds June moves: ITC, TCS among key buys; Dr Reddys, Maruti see stake cut
Child education allowance tax benefit in ITR filing for FY 25-26: Know when you can claim it
Salaried employees can claim child education allowance tax exemption under the old tax regime. This exemption is available for up to two children per taxpayer. For FY 2026-27, the monthly limit increases significantly to Rs 3,000 per child. Self-employed individuals and those opting for the new tax regime cannot claim this benefit. Both parents can claim the exemption separately for their eligible children.
Indian residents holding foreign assets must report them in Schedule FA. This reporting uses the calendar year ending December 31, 2025. Assets held even for one day during this period require declaration. This applies irrespective of the foreign country's fiscal year. Failure to report can lead to penalties for non-compliance.
Best flexi cap mutual funds to invest in July 2026
Flexi cap funds offer fund managers investment freedom across market capitalizations and sectors. These schemes are recommended for moderate investors seeking long-term wealth creation over five years. Investors should carefully select schemes aligning with their individual risk appetite and temperament. Several flexi cap funds are highlighted for potential investment in July 2026. Performance metrics like rolling returns and downside risk guide fund selection.
Why gifting shares to parents works and why gifting it to your spouse is a different story
MSME minister urges banks to facilitate greater access to institutional credit
The minister urged banks to facilitate greater access to institutional credit for MSMEs and called upon all stakeholders to ensure effective implementation of government initiatives for the sector growth
7-day tax refunds are real; here's the checklist that gets you one
AU Small Finance Bank and Zaggle launch co-branded retail credit card with flexible rewards
The card features a Zagg Coins-to-cashback rewards program, flexible payment options, and customizable Value Passes, allowing customers to personalize benefits and earn higher cashback on UPI and contactless spends
DBS Bank Indias FY26 net profit up 49% at 1,020 cr
The Banks Ccapital Aadequacy Rratio stood at 19.7 per cent
Banks rush for global ratings as FCNR (B) fund-raising gains momentum
The development comes amid a broader trend among Indian lenders looking to shore up foreign-currency liabilities as credit demand rises
This is a CBDT order dated July 8, 2026 issued under Section 119 of the Income-tax Act, 1961. It is an administrative order that authorizes the Income-tax Department to upload foreign financial information received under Automatic Exchange of Information (AEOI) into taxpayers' Annual Information Statement (AIS) in Form 26AS/AIS. Know more.
BlackSoil acquires Credit Fairs solar financing business to enter renewable energy sector
The deal includes Credit Fairs management team, technology, brand, and infrastructure. Credit Fairs solar business has an AUM of 152.6 crore, operates in 20+ states, and partners with major solar companies
Sukanya Samriddhi Account interest rate: How you can create Rs 50 lakh corpus for your girl child
SSY interest rate: The Sukanya Samriddhi Account offers an 8.2% annual interest rate, compounded yearly. Parents can invest up to Rs 1.5 lakh annually for a girl child's future. Consistent investment builds a significant corpus over a 21-year maturity period. Deposits and earnings under this scheme are tax-exempt, providing significant financial benefits.
Life insurance industrys savings biz in Q1FY27 hit due to West Asia uncertainties
According to the report, among private listed players, SBI Life Insurance remained the top performer in June, clocking strong 18 per cent y-o-y retail APE growth, followed by Axis Max Life Insurance at around 15 per cent
EPFO simplifies PF fund transfer: No separate fund transfer request needed for Aadhaar-linked UAN
AustralianSuper invests another AU$500 million in Indias NIIF
The fresh investment takes the Australian pension funds total exposure to India to AU$3.3 billion
NFOs: 13 mutual funds and 2 SIFs are open for subscription. Check dates and key details
Around 13 mutual funds and two Specialized Investment Funds are currently open for subscription across categories including hybrid, index, ETF, multi-asset and large & midcap funds. Investors can choose from offerings by ICICI Prudential, SBI, Mirae Asset, UTI and others.
JioBlackRock Flexi Cap Fund exits Vedanta group companies after demerger, sells 8 more stocks
JioBlackRock Flexi Cap Fund exited Vedanta group companies following the demerger of the entities in June, according to monthly portfolio data from ACE MF. The fund sold 8.16 lakh shares each of Vedanta Aluminium Metal, Vedanta Iron and Steel, Vedanta Power, and Vedanta Oil and Gas after the demerged entities were listed on June 15, 2026.
EPFO update: 10 key changes new centralised system brings to EPF, EPS subscribers
EPFO has centralized its member database for faster and smoother service delivery. Annual interest for FY 2025-2026 will be credited by July 15, 2026. Advance withdrawal auto-settlement limits have been raised to Rs 5 lakh. Automatic PF account transfers will occur upon job changes without separate forms. EPFO services are now accessible from any PF office across India.
Around 59% of large and midcap stocks are trading at least 20% below their all-time highs after the recent market correction, creating attractive long-term investment opportunities, according to Abakkus Mutual Fund. The fund house believes improving earnings, reasonable valuations and active stock selection could drive the next phase of returns.
Explained: What are income plus arbitrage FoFs and why are wealthy investors buying them?
PFRDA has formed a committee to attract global pension capital into India. This committee, named ASCEND, will create a roadmap for collaborations. Indian pension funds will partner with global funds through co-investment platforms. This initiative aims to finance infrastructure and support economic development. NPS subscribers will benefit from diversification and long-term risk-adjusted returns.
State Bank of India draws over $1.5 billion in forex deposits
State Bank of India has raised over $1.5 billion from overseas citizens. This program offers attractive returns due to Reserve Bank of India subsidies. Depositors can leverage funds, earning more than their borrowing costs. Banks are expanding outreach to India's large diaspora globally. This initiative echoes a similar plan from 2013.
Resident and ordinarily resident individuals must report foreign assets. This disclosure is required in Schedule FA of the income tax return. Non-resident Indians and resident but not ordinarily resident individuals are exempt. Schedule FA requires reporting peak values and beneficial ownership details. Failure to comply can lead to significant penalties under the Black Money Act.
EPF Scheme 2026: Will you have to contribute more? New EPF and VPF rules explained
Salaried employees face a crucial tax decision between old and new regimes. The new tax regime offers lower tax liability across various income levels. However, substantial deductions can make the old tax regime more beneficial. Taxpayers should calculate their actual tax under both systems. This ensures the most tax-efficient choice for their financial situation.
Govt bonds pause after slump as oil, Treasury risks linger
The benchmark 6.94% 2036 bond yield was little changed at 6.7670% by 10:15 am
The Telangana High Court recently held that where an SBI employees' VRS application had already been accepted then his death before the formal retirement date would not defeat the claim of his family (legal heirs) to receive the VRS benefits. Read below to know more about what the Telangana High Court said.
Old Pension Scheme option extended to these government employees: Will others also get it?
The Council of Scientific & Industrial Research endorsed the Centre's decision on pension options. This move allows compassionate appointees to opt for the Old Pension Scheme. These individuals applied for jobs before January 1, 2004, but joined later. A key letter from the Department of Personnel facilitated this change for CSIR appointees. Other Central Autonomous Bodies may now follow this precedent for their employees.
Can a Rs 58,000 monthly SIP build a Rs 10 crore corpus in 16 years? Expert reviews portfolio
A Rs 58,000 monthly SIP with a 10% annual step-up may not reach the Rs 10 crore goal. Increasing the annual SIP step-up to 20% could exceed the target corpus. The expert suggests rebalancing market-cap allocation for better diversification. Shifting investments from gold and silver ETFs towards equity funds is advised. The portfolio requires adjustments to achieve long-term financial objectives.
Best tax saving mutual funds or ELSS to invest in July 2026
Taxpayers often invest in ELSS funds for Section 80C deductions. These funds offer potential for higher returns over the long term. ELSS schemes have a three-year lock-in period, shorter than other options. Investors should consider ELSS for long-term equity exposure and potential growth. Several ELSS funds are recommended for investment consideration.
Top AI jobs paying up to 80 LPA in India; heres a 6-month plan to land one
ITR filing: Don't let one small mistake cost you your tax refund; check these 12 points
Section 234B interest on updated ITRs: CPC's computation logic appears contrary to law
Taxpayers filing updated returns face incorrect interest charges. Centralised Processing Centre calculates Section 234B interest beyond tax payment dates. This leads to excess demands and additional income tax levies. The law mandates interest cessation upon full tax payment before filing. Taxpayers should seek rectification for these erroneous demands.
Sanlam increases stake in Shriram Life Insurance to power growth ambitions
The capital infusion will strengthen Shriram Lifes balance sheet, fund technology upgrades, and accelerate expansion into rural and under-served markets
PhonePe appoints Srijon Biswas as CTO
PhonePe co-founder Rahul Chari to take on role of CPTO
Indian Bank, VIT Chennai felicitate PSBS Hackathon 2026 winners for anti-fraud innovations
The hackathon focused on developing innovative solutions to detect and prevent banking fraud, including mule accounts and supply chain fraud
National Payments Corporation of India seeks approval to set up techfin centre in GIFT City
NPCI seeks approval to establish a techfin centre in GIFT City, enhancing Indias digital payment and financial technology landscape.
Binance's Richard Teng on crypto's role in modern financial infrastructure
Digital asset infrastructure is increasingly driven by efficiency and market access. Blockchain networks offer faster settlement and continuous risk management capabilities. Tokenisation and multi-asset platforms are reshaping financial distribution models. Clear regulation will significantly shape mainstream adoption of these technologies. India's digital public infrastructure may benefit from these evolving market structures.
HDFC Flexi and Parag Parikh Flexi Cap among top 5 flexicap funds with highest risk-adjusted returns
Sharpe ratio measures risk-adjusted returns by comparing excess returns to risk. Here are the five flexicap mutual funds with the highest Sharpe ratios and their three-year performance.
Investing through SIP? These 5 equity mutual funds deliver over 20% return in 10 years
Five equity mutual funds delivered over 20% annualised SIP returns in 10 years, led by Quant Small Cap. Investors should prioritise risk profile, goals, and investment horizon over past performance.
PGIM India Mutual Fund has temporarily suspended subscriptions in three international fund of funds from July 9, citing overseas investment limits. Fresh SIP registrations will not be accepted after the cut-off time on July 8, while existing SIP and STP instalments will continue without interruption.
KFintechs Finex accelerates same-day physical SIPs to redefine wealth creation
KFintech's Finex program significantly reduces mutual fund SIP processing times. Physical SIP registrations now achieve same-day activation, a major improvement. This transformation leverages AI and automation for efficient data handling.
Parag Parikh Flexi Cap increased stake in ITC, TCS, HCL Technologies, and 14 other stocks in June
Parag Parikh Flexi Cap Fund increased its holdings in ITC, TCS, HCL Technologies and 14 other stocks in June, while trimming exposure to Dr Reddys Laboratories and Maruti Suzuki India. The fund also added Petronet LNG as a new portfolio entrant and made no complete exits during the month.
Crypto firms prepare defenses as quantum threat to encryption draws nearer
Quantum computers can solve complex mathematical problems much faster than today's sophisticated computers, and could be used to unscramble conventional methods for encrypting digital information
ITR filing 2026: Step-by-step guide to filing ITR-2 online on the income tax portal
Individuals and HUFs not eligible for ITR-1 can file ITR-2 online. This guide details the necessary documents and steps for submission. The e-filing portal requires filling specific schedules before final submission. Pre-filled data in Part A General needs verification and potential profile updates. E-verification must be completed within thirty days after submitting the return.
Senior citizen paid Rs 1.23 lakh extra to upgrade to Air India business class due to his cervical spondylosis condition but seats turned to be faulty causing him neck, shoulder, lumbar pain and vertigo; NCDRC upheld Rs 20lakh compensation, refund order Read below to know how the senior citizen won the case.
Income tax slabs for Tax Year 2026-2027, FY 2025-26 (AY 2026-27) under the new tax regime
The new Income Tax Act, 2025, takes effect from April 1, 2026, maintaining current tax slab rates. Highest tax rate remains 30% for incomes exceeding Rs 24 lakh under this regime. Marginal relief prevents excessive tax burdens when income slightly crosses Rs 12 lakh. The new tax regime is now the default option for individual taxpayers. Salaried individuals benefit from a Rs 75,000 standard deduction and tax rebate.
I have become a foreign citizen. Can my mother make me a joint owner in her property in India?
ET Wealth Reader's Query: I am a foreign citizen and an only son. My mother wants to make me the joint owner in a property that belongs to her. Is this permitted in India considering that I now have a foreign citizenship?
RBI backs crypto ban, tax department warns of evasion risks, documents show
India's central bank has reiterated its preference for a cryptocurrency policy leaning towards prohibition, warning that crypto assets and stablecoins could threaten financial stability and monetary sovereignty, according to internal government documents reviewed by Reuters.
Quant Small Cap Fund exits RIL, 8 others; raises exposure to two Adani stocks. Check full list
Quant Small Cap Fund made a major portfolio reshuffle in June, exiting Reliance Industries and eight other stocks while increasing exposure to Adani Enterprises, Adani Green Energy and 13 more companies. The fund also added Bharti Airtel, IDFC First Bank and LIC Housing Finance as new portfolio entrants.
Gold prices saw a slight decrease today across major Indian jewellery retailers. Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas reduced their 22-carat gold rates. These price adjustments were observed in key cities nationwide.
Suggests higher limits for renewable energy, education and new categories for infrastructure, climate finance
The Income-tax Act, 2025 introduces a new audit trigger for businesses. This change clarifies audit requirements for low-profit businesses under presumptive taxation. Previously, ambiguity existed regarding mandatory audits for lower profit declarations. The new Act expressly links lower-than-presumptive profit declarations to mandatory audits. This amendment brings greater certainty to tax compliance for small businesses.
Non-resident Indians (NRIs) and overseas citizens of India (OCIs) can consider investing in FCNR(B) and NRE fixed deposits to achieve reliable returns. While FCNR(B) deposits safeguard against currency fluctuations as they are held in foreign currency, NRE deposits offer opportunities in Indian rupees without such protection. Ultimately, your decision should align with your currency expectations and future financial objectives. Both investment avenues are tax-exempt and allow full repatriation.
Many taxpayers mistakenly believe that rental income from a house gifted to a spouse is taxable in the recipient spouse's hands. This article explains the clubbing and deemed ownership provisions under Sections 27 and 64, the correct ITR reporting requirements, and seven key things taxpayers should know before filing ITR for AY 2026-27.
Axis Bank loses three senior executives as leadership shake-up continues
Anil Agarwal, president and group head of institutional clients coverage, Vikas Shinde, who once headed the debt capital market team, and Jimmy Tavadia, group head of trading, have resigned from Axis Bank
Central government employees now have two new investment choices. These options were previously available only to central government employees. Now, National Pension System subscribers in Central Autonomous Bodies can also access them.
Consistently filing Income Tax Returns creates a verifiable financial document. Banks often request these returns to assess loan applicant income stability. ITRs also help demonstrate financial capacity for visa and study abroad applications. Landlords and businesses may seek ITRs for tenancy and partnership evaluations. Preserving complete tax records is crucial for future financial needs and compliance.
Home loan EMI looks affordable? These hidden costs that calculators miss can change everything
EPF Scheme 2026: Has EPFO increased 8.25% EPF interest rate? Know the new rules
Smallcap funds deliver 22% average return in 3 months. Is it time to invest, hold or rebalance?
Small cap mutual funds delivered an average return of 21.89% over the past three months, sparking debate on whether investors should continue SIPs, invest afresh or rebalance portfolios. Experts advise sticking to long-term asset allocation, preferring staggered investments through SIPs or STPs, while cautioning that elevated valuations warrant selective exposure.
The Latest Home Loan Interest Rates: Jul 03, 2026
The Latest Home Loan Interest Rates: Jul 03, 2026
The Latest Fixed Deposit Interest Rates: Jul 03, 2026
The Latest Fixed Deposit Interest Rates: Jul 03, 2026
ITR processed but something's off? The rectification request explained step by step
Break the cycle: How a simple 'no-buy' rule is beating inflation one impulse at a time
Missed your term insurance premium? Here's what happens to your policy, claim, and life cover
Missing a term insurance premium does not immediately cancel coverage. A grace period allows payment, and nominees receive benefits if death occurs. Unpaid premiums after the grace period cause the policy to lapse, stopping life cover. Lapsed policies can be revived within five years, often requiring health checks.
Who should consider investing in income plus arbitrage FoFs?
Investors with a 24-30 month horizon are choosing income plus arbitrage funds. These funds combine debt and arbitrage schemes for stability and tax efficiency. The category manages over twenty-three thousand crore rupees across twenty-two schemes. This investment strategy offers tax benefits compared to fixed deposits and debt funds. Wealthy investors are increasingly allocating capital to these tax-efficient mutual fund options.
RBI lending curbs dent proprietary trading, drag derivatives turnover lower
Average daily derivatives turnover on the NSE and BSE down 25% and 30%, respectively, over the last four trading sessions
Rupee logs biggest single-day gain in over 3-weeks; closes below 95-mark
The Indian unit closed 44 paise stronger at 94.96 per US dollar
Sharp rise in general insurance complaints raises service quality concerns: RBI
The unresolved grievances could undermine policyholder confidence and pose broader financial stability risks, RBI said
RBIs first monthly NBFC credit data shows 14.2% growth in May 2026, led by retail lending
Retail lending remains the sectors growth engine, with gold loans surging nearly 70 per cent and consumer durable finance rising 42 per cent year-on-year in May 2026
SBI eco research team says time opportune to revise priority sector lending guidelines
The RBI had devised PSL mechanism in 1972 to ensure credit flow to underserving sectors
CBI files chargesheet in Reliance Commercial Finance Ltd bank fraud case
The CBI has so far arrested Amitabh Jhunjhunwala, former Vice Charman of Reliance Capital Ltd, Devang Pravin Mody, former CEO of RCFL, and Amit Bapna, former Chief Financial Officer of Reliance Capital Ltd.
