29 C 
Fino Payments Bankslips into the red
Reports net loss of 13.72 crore in Q1FY27
Bank of Baroda concludes issuance of 3, 5-yearbonds aggregating $700 million
ICICI Bank completes issuance of $300 million Senior Unsecured Fixed Rate Notes
GIC Res Q1FY26 standalone net profit up 10% at 1,922 crore
Income from investments was about 4 per cent lower at 2,171 crore
Over their lifetimes, the 10 best-funded companies in the ecosystem have raised about $9.4 billion
Indian Bank disburses 1,220 crore under Retail, Agriculture and MSME (RAM) segments
Of the total sanctions, the MSME segment accounted for 615 crore
Muthoot Microfineyeing micro-LAP focussed NBFCs for acquisition, plans to raise 500 cr via QIP
Company posted 81.3 crore first quarter net profit
Galaxy Health Insurance enters travel insurance segment with launch of new product
Product designed for Indians travelling overseas for leisure, business, education and employment
Motor insurance is undergoing a transformation! Bajaj General Insurance introduces ProShield, specifically designed for defence personnel to assist with relocation and travel emergencies. Meanwhile, VPAY 2.0 is here to safeguard connected, electric, and hybrid vehicles from cyber threats, breakdowns, and fuel-related challenges. Explore how these innovative policies provide extensive protection that extends well beyond conventional accident coverage.
Life insurers' new business premium rises 21% to 47,005 crore in July; policy count nearly flat
The divergence was largely driven by group single-premium business. Industry-wide group single premium jumped 30.9 per cent to 27,857.01 crore in July from 21,280.53 crore a year ago
Fintech startup Navi said to hire banks for 3,000 crore IPO
The IPO is expected to comprise a primary share sale, with no secondary offering by existing shareholders, the people said. Navi is seeking a valuation of as much as $2 billion and is targeting to file the prospectus by December
ICICI Prudential Life Insurance has unveiled the ICICI Pru iProtect Smart Her, a dedicated term plan tailored for women. This plan features a 15% lifetime discount on premiums, an option for a pregnancy break to enhance financial management, and various health benefits specifically for women.
Credit cards aren't the only way to unlock free airport lounge access. Discover 7 debit cards from ICICI, HDFC, SBI, PNB, IDFC First and Bank of Baroda offering complimentary domestic and international lounge visits, with some having no minimum spend criteria. Check out these 7 debit cards that offer lounge access.
FCNR (B) interest rate: Government backing for FCNR (B) deposits greatly boosts returns for investors. Presently, banks are providing enticing interest rates for foreign currency fixed deposits. These deposit options are particularly advantageous for Non-Resident Indians and Overseas Citizens.
Will my SIP of Rs 40,000 be enough to get Rs 40 lakh for my daughters wedding?
ET Wealth Reader's Query: I am 52 and have been investing Rs 40,000 a month through SIPs in diversified equity mutual funds for the past 10 years. My daughters wedding is expected in about four years, and I estimate the expense at around Rs 40 lakh. Should I continue investing entirely in equity funds, or should I gradually start shifting part of my corpus to debt funds to protect it from market volatility? If so, when should I begin the transition and what would be an appropriate strategy?
Mutual funds increase cash allocation by over Rs 7,800 crore in July to Rs 1.90 lakh crore
Mutual funds boosted cash holdings by over Rs 7,856 crore in July. PPFAS Mutual Fund held the largest cash reserve at Rs 25,291 crore. This fund house has three equity-oriented funds in its portfolio. Rajeev Thakkar noted cash levels have fallen from a peak of 25%. Other fund houses like SBI and HDFC also maintained significant cash reserves.
Gen Z turns to crypto as gateway to investing, WazirX data shows
Indias Gen Z is entering financial markets earlier, with crypto emerging as a gateway to investing. WazirX data shows young investors favour diversified portfolios and are increasingly coming from Tier II and Tier III cities.
The Reserve Bank of India has proposed a new framework for loan interest rates. This framework aims to bring more uniformity and transparency to lending practices. Floating rate loans will see increased transparency and stricter reset periods. Personal and MSME loans from commercial banks must link to external benchmarks. These proposed changes are expected to take effect from April 1, 2027.
Iran to join BRICS development bank soon, central bank governor says
Which sectors attracted mutual fund interest in July? Check details
Mutual funds increased their exposure to technology, automobiles, e-commerce, healthcare, NBFC-lending and telecom sectors in July, while reducing weights in private banks, capital goods, utilities, oil & gas and other sectors.
FCNR(B) deposits have become attractive to investors looking for significant returns in US dollars, largely thanks to government hedging strategies. However, experts warn that investors must be aware of currency and liquidity risks. While leverage can enhance profits, it can also lead to considerable financial losses. Additionally, taxation can bite into returns, so a careful assessment of post-tax returns and risks is essential before investing.
INDO-MIM, Ather Energy and TCS among stocks bought and sold by mutual funds in July
Mutual funds bought Rs 15,900 crore of stocks in July while FIIs sold Rs 11,000 crore. Axis Bank, INDO-MIM and Kotak Mahindra Bank saw major buying, while ICICI Bank, Eternal and Reliance Industries faced selling. Buying remained strong across large, mid and smallcap segments, reflecting active portfolio repositioning by fund managers.
SIF AUM jumps 30% to Rs 23,177 crore in July; inflows rise 30% MoM: Report
SIF assets under management rose 30% month-on-month to Rs 23,177 crore in July 2026, while inflows also jumped 30% to Rs 4,922 crore. Hybrid Long-Short Funds dominated the segment, accounting for 66% of total SIF AUM.
Gold rates today:Here is a look at the latest 22k gold jewellery prices at Tanishq, Joyalukkas, Malabar Gold & Diamonds and Kalyan Jewellers across major cities such as Delhi, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad and Thiruvananthapuram.
Mutual fund SIP stoppage ratio fell to 81.87% in July from 91.23% in June, marking the third consecutive monthly decline. New SIP registrations outpaced discontinued or completed SIPs, while monthly inflows rose 12% year-on-year to Rs 31,961 crore, signalling continued investor preference for systematic and disciplined investing.
Builder used coercive bargaining and paid Rs 18 lakh less as refund to homebuyers for cancellation of allotment under full and final settlement; HC rejects settlement and orders full refund with interest to homebuyers
Indias financial sector saw some large foreign investments in recent months. Heres a list
Mergers and acquisitions from foreign investors into Indias financial sector totalled $11.7 billion in 2025, according to Grant Thornton
RBI turns upbeat as worst of Iran war shock recedes
Indias economy is showing resilience five months after the Iran war sparked fears of inflation and a downturn. Inflation remains within the RBIs tolerance band, while vehicle sales, credit growth and GST receipts point to firm demand. Strong corporate balance sheets and festive-season spending are further bolstering optimism despite renewed oil and currency risks.
Property buyers gave Rs 54 lakh to property dealer who deposited it in his own bank a/c; dealer gets tax notice, he fights and wins case in ITAT Delhi; Know why
Retirement is not synonymous with tax freedom. Your pensions, interest income, rental earnings, and capital gains may still incur taxes. It's crucial to identify which income streams are subject to taxation and which advantages remain untaxed to prevent errors and manage your finances wisely. Learn strategies to legally minimize your tax responsibilities after retirement and bolster your financial stability.
Have over Rs 1 crore cash to invest? Expert suggests portfolio for retirement, childrens goals
An investment advisor recommends a tailored strategy for a surplus of Rs 1.31 crore, focusing on balancing risk and stability for retirement aspirations. This plan involves a staggered investment approach via a systematic transfer plan (STP) spanning four to seven years. The proposed portfolio diversifies into equity, hybrid funds, arbitrage, and gold investments, aiming for capital growth while safeguarding assets as retirement approaches.
Q1 Results Today, 13th August 2026 Live Updates: Follow Q1FY27 live updates from businessline
NRI estate planning: The 8 steps that decide whether your family inherits peace or a legal nightmare
Buy or Hold? Here's how analysts are rating 7 midcap stocks from Delhivery to Cera
SBI raises $500 million overseas as strong investor demand sharply cuts spread
Strong investor appetite helped SBI tighten pricing by 32 bps from the initial guidance of 120 bps, resulting in a final spread of 88 bps over US Treasuries
NaBFID plans $3-4 billion ECB raise to support infrastructure financing
The infrastructure financier expects domestic long-term savings to play a bigger role in funding projects and other long-duration assets
Defaulted on your loan? Here's what banks can legally do and what they can't
Missing a single loan EMI doesn't lead to immediate bank intervention; instead, lenders often issue reminder calls and formal notices first. For secured loans, repossession of assets follows legal procedure, while unsecured loans depend on collection efforts. Recovery agents must uphold borrower dignity, refraining from harassment. Engaging proactively with lenders can facilitate loan restructuring and help preserve your credit score from significant damage.
AvenuesAI net profit rises 45%, targets 13,000 crore revenue in FY27
The fintech firm is targeting faster growth through Rediff, US payments expansion and an AI-led transaction intelligence platform called TISco.
Bank of America to acquire up to 49.9% stake in Jio Credit for 18,268 crore
Jio Credit is betting on digital innovation and fresh capital to transform credit delivery across India
ICICI Direct adds real-time auction price display to trading platforms
The feature allows investors to track demand and supply dynamics in real time before the market officially closes, and is intended to help them assess portfolio and derivatives positions ahead of the final settlement price
RBI unveils harmonised draft Directions on interest rates on loans for all lenders
Indel Money planning to raise up to 500 cr via public issue of NCDs
The minimum application size is 10,000 across all Series of NCDs and in multiples of 1,000 thereafter
Finance Ministry weighs tiered MDR and subsidies phase-out for high-value UPI payments
The proposals include reintroducing merchant discount rates (MDR) on high-value transactions and establishing a tiered incentive structure to phase out government subsidies over the next few years.
Tata Sons listing: RBI unlikely to be swayed by Chandras exit
Experts say RBIs decision will hinge on Tata Sons systemic importance and regulatory considerations rather than leadership changes, even as listing debates intensify within Tata Trusts and the SP Group
NFO Alert: Zerodha Fund House launches arbitrage fund
Zerodha Fund House has launched its Arbitrage Fund, an open-ended scheme targeting equity and derivatives price gaps. The NFO closes August 14, with the fund designed for relatively low-volatility, tax-efficient short-term cash parking and conservative investors.
Karnataka Bandh on August 13, 2026: Are banks open or closed on Thursday? Check bank holiday status
Bank customers in Karanata may be wondering whether the statewide bandh will affect their offline banking services. Pro-Kannada organisations have called for a Karnataka bandh over the Cauvery water dispute, while also demanding progress on some projects in Karnataka.
For Non-Resident Indians, establishing a retirement corpus back home is simplified with the National Pension System. NRIs can open a Tier-I account, the essential foundation for retirement savings. Contributions are permitted from NRE and NRO accounts, facilitating smooth repatriation. Subscribers enjoy a range of investment choices, spanning equity, corporate bonds, and government securities, and can opt for either active or automated investment management in line with their risk appetite.
Five largecap mutual funds delivered strong three-year annualised returns of 13.414.5%, led by Taurus and Invesco. Meanwhile, five laggards posted single-digit annualised gains ranging from 7.7% to 9%.
FCNR inflows may push FY27 loan growth to 16%; weaker-liability banks to benefit: Report
Brokerages noted that banks had mobilised $36.7 billion in fresh FCNR deposits as of July 31, surpassing $24.5 billion mobilised during the entire 2013 window, which represented 2% of system deposits and 9% of FCA
When will government issue plastic currency notes? Minister reveals this in Parliament
The circulation of plastic currency notes is set to begin in the next financial year, as confirmed by the Reserve Bank of India's governor following a recent policy meeting. The government has greenlit the RBI's proposal for field trials, with the procurement of these polymer banknotes currently underway. However, specific details regarding the launch date and associated costs remain undisclosed.
India plans insurance reforms to rein in healthcare costs, sources say
India is considering sweeping health insurance reforms to standardise treatment rates, coverage and billing, while expanding a nationwide claims exchange, sources said. A regulatory panel is expected to submit recommendations by year-end as authorities seek to curb medical inflation, reduce fraudulent claims and encourage greater insurance coverage across the country.
Overseas pensioners encounter challenges when submitting digital life certificates due to issues with authentication and internet connectivity. Bharat Pensioners Samaj suggests that the government accept verified life certificates through registered email IDs, aiming to make the process easier for elderly pensioners living abroad. They point out that a similar digital solution works for Defence pensioners, urging the implementation of this additional option ahead of the upcoming submission deadline.
Will 8thPay Commission submit its report before 18-month deadline? Minister clarifies
8th Pay Commission news: The 8th Pay Commission is currently engaging with various stakeholders regarding issues related to pay and pensions. The findings are expected to be submitted within 18 months of its formation. Led by chairperson Justice Ranjana Prakash Desai, this initiative aims to benefit nearly 35.77 lakh civilian employees and 33.76 lakh pensioners. Modifications to guidelines for consultant involvement have been introduced by the commission.
SBI uses AI to underwrite nearly 1 lakh cr in MSME loans in FY26
SBI Managing Director Rama Mohan Rao Amara says the bank is also deploying artificial intelligence, including Large Language Models, to automate processing of cheques up to 10,000.
Gold rates today: If you are planning to buy gold jewellery, here is a look at the latest 22K gold rates at Tanishq, Malabar Gold & Diamonds, Joyalukkas and Kalyan Jewellers across major cities.
JioBlackRock Flexi Cap Fund adds Bandhan Bank, 14 other stocks; exits Vedanta, 17 more in July
JioBlackRock Flexi Cap Fund added 15 stocks and exited 18 in July, with Bandhan Bank and Punjab National Bank among its key additions. The fund also increased exposure to 29 stocks while reducing its stake in 29 others. Its portfolio stood at 133 stocks, with an AUM of Rs 3,270 crore.
Direct mutual funds vs regular plans: Do lower fees really mean higher returns?
361% return on SGB premature redemption date: Gold bond turns Rs 1 lakh investment into Rs 4.61 lakh
SGB premature redemption date: The Reserve Bank of India has announced the premature redemption price for the SGB 2018-19 Series VI, allowing investors to redeem their bonds starting August 12, 2026, after a five-year term. Investors stand to gain substantial returns on their initial capital.
Husband claims Rs 20 lakh debt and lost his earning capacity due to the hostile atmosphere and false complaints by wife; HC rejects wifes higher maintenance claim but orders him to pay Rs 46 lakh for daughters education. Know why he lost the case in Madhya Pradesh High Court.
Bank of Baroda and Canara Bank have raised their lending rates. These banks increased their Marginal Cost of Funds Based Lending Rates by up to ten basis points. The revised rates for both banks become effective from August 12, 2026. Borrowers with loans linked to MCLR may see their interest payments rise. This decision follows the Reserve Bank of India's recent repo rate maintenance.
Employees working in manufacturing sector can clarity on what benefits they are entitled to and what their employer must provide, under new labour code rules. Read the article to know more.
The 50% presumptive taxation rule for professionals largely continues under the new Income-tax Act. However, Section 58(4) introduces a wider restriction on deductions and losses against presumptive income. Here is what professionals need to know before filing their returns.
Are you an NRI looking to sell your property in India after relocating abroad? It's essential to understand the process of repatriating your funds. Discover the differences between NRE and NRO accounts, along with FEMA regulations and repatriation limits. Selecting the right bank account is critical for ensuring a hassle-free transfer of your sale proceeds overseas.
Gold, silver ETF inflows plunge in July. Is it time to book profits or stay invested?
In July, there was a notable drop in inflows for gold and silver ETFs, despite high prices for precious metals. Analysts attribute this downturn to profit-taking following a robust rally. Nevertheless, ongoing positive inflows suggest that investor interest in gold remains strong. It is recommended that investors reassess their portfolios and adjust new investments accordingly.
Hybrid cars in India 2026: Best models, prices, mileage and why buyers are considering them
SBI sees strong demand for 5-year dollar bond, tightens pricing
SBI raises $500 million through a five-year dollar bond issued via its London branch
Fixed deposit interest rates: Union Bank of India, DCB Bank and Indian Bank have revised their fixed deposit (FD) interest rates. These revised rates are effective from early August 2026.
7 ways to know if your investment is dead money (and what to do about it)
Q1 Results Today, 12th August 2026 Live Updates: Follow Q1FY27 live updates from businessline
SBI has 5-6 M&A financing deals in pipeline, says senior official
The new lending avenue is helping banks tap sectors such as software, where companies traditionally have had limited need for bank financing.
Microfinance loan disbursements above 1 lakh jump 89.8%; smaller loans decline
The shift towards higher-value loans comes as lenders seek stronger borrower profiles and tighter risk management following stress in the sector.
Equity MF bets lose some zip, seasonal debt flow lifts AUM
Retail investor activity in equity funds dipped by almost fifteen percent in July, indicating a cautious approach towards market trends. Conversely, systematic investment plans enjoyed positive growth, affirming their importance in the investment landscape. Debt funds welcomed impressive inflows, bolstering overall industry assets. Additionally, liquid and overnight funds attracted major corporate treasury allocations at the quarter's start, with mid- and small-cap equity categories still favored despite market hesitations.
Fusion Finance plans retail loan venture in September
The average ticket size is expected to be 1.25-1.5 lakh, with a maximum loan size of 2 lakh
Manappuram Finance logs 41% jump Q1FY27 standalone net profit at 552 crore
In the reporting quarter, the NBFCs net interest income (difference between interest earned and finance costs) rose 33% yoy to 1,464 crore (1,104 crore in Q1FY26)
Agentic AI emerges as mid to high level priority for Indian banks
Senior executives highlight its potential to transform decision-making, security and innovation across the sector
UPI expands credit access beyond metros as first-time users adopt credit lines
Access has also been relatively quick, with nearly 95 per cent % of eligible applicants receiving approval for a credit line within two hours, Kiwi said.
Manappuram Finance posts 585 crore profit in June quarter
Assets under management grew by 57.20 per cent to 69,635 crore
Effective tax rate of 34.94% under old and 28.60% under new tax regime; know how REIT, InvIT unitholders can benefit if trusts' switch tax regime. REIT, InvIT unitholders can gain from new tax regime.
Mutual fund NFOs: 25 schemes collect Rs 2,022 crore in July; Choice Overnight Fund leads
Mutual funds launched 25 new open-ended schemes in July, mobilising 2,022 crore. Equity funds raised the most at 768 crore, followed by overnight, hybrid and index funds, while ETFs and lifecycle funds attracted comparatively smaller inflows.
Mirae Asset Financial Groups NBFC arm launches digital pledging for CDSL demat accounts
Customers with CDSL demat account can now apply for Loan Against Shares (LAS) completely online through the Mirae Asset Financial Services website or mobile app
Family bought reservation ticket to travel to Tirupati but due to overcrowding manyunreserved, waiting list and ticketless passengers occupied their seats; family files case and wins Rs 50,000 compensation. Know how they won the case in consumer commission
Mirae Asset Financial Services launches loan against shares held in CDSL
The loan will be processed online through the Mirae Asset Financial Services website or mobile app, replacing a manual, paper-intensive process
Buyer purchased Rs 8.85 crore worth property by paying Rs 6.5 crore; Tax dept sent notice for unexplained property investment u/s 69B; Know how the buyer won case in ITAT Mumbai. Read the article
RBI wants AI to be responsibly harnessed; not to be seen as a risk: Sanjay Malhotra
By harnessing AI capability, the economics of credit delivery changes fundamentally, banks can serve customers better and enhance their operational efficiency, he said
Govt approves introduction of one billion polymer banknotes of 10 and 20
The polymer banknotes will be issued alongside paper-based notes, with the procurement process currently at an initial stage, the government said
Vikas Khemani elected APMI Chairman, Sandeep Jethwani Vice-Chairman
APMI appointed Vikas Khemani as Chairman and Sandeep Jethwani as Vice-Chairman following its August 10 board meeting. The new leadership will focus on transparency, governance, investor education, technology adoption and industry best practices. Indias PMS industry had Rs 43.3 lakh crore in AUM as of June 2026, highlighting its growing importance.
Man sentenced to three years jail for using aluminum foil in Kaju Katli instead of silver foil; he wins case in Gujarat HC due to food inspector's error in collecting samples under Rule 14 of the Prevention of Food Adulteration Rules, 1955. Know how he won case in Gujarat High Court.
BRICS nations discuss linking payment systems and CBDCs, RBI chief says
In the light of India hosting the 2026 edition of the BRICS summit, cross-border payments is considered an area of interest
EPS 95 latest news: The Employees' Provident Fund Organisation (EPFO) has received over fifteen lakh applications for higher EPS pensions. As of August 5th, 2026, there remain eleven thousand five hundred ninety-five applications still pending. In response to a Supreme Court ruling granting access to higher pension options, the government has instructed regional EPFO offices and employers to hasten the application verification process.
Gold prices saw an increase today across major Indian jewellery brands. Retail rates for 22K gold jewellery climbed at Tanishq and other stores. The India Bullion and Jewellers Association also reported higher gold and silver prices.
