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Ex-Kotak Bank DVP laundered Panchkula civic funds to buy luxury cars, Harley-Davidson: ED
ED has chargesheeted Pushpinder Singh along with his two colleagues at Kotak Mahindra Bank and an employee of the Panchkula municipal corporation, accusing them of defrauding the Haryana government of more than 100 crore
RBI issues stricter loan recovery rules to protect borrowers from harassment
New RBI norms strengthen borrower rights through fair recovery practices, stricter lender accountability and safeguards against misuse of recovery powers.
Tata Sons in RBIs new Upper Layer list for NBFCs
The inclusion is noted to be independent of Tata Sons ongoing application for de-registration, which is still under review
The Lok Sabha passed a bill amending tax laws on August 6, 2026. This amendment benefits REIT and InvIT investors by exempting dividend income. Special Purpose Vehicles can opt for a new tax regime with a higher surcharge. This decision requires careful evaluation of the entire structure's tax efficiency. The choice between tax regimes depends on individual financial profiles and commercial objectives.
Standard Chartered gets nod to launch wealth management services from GIFT City
Standard Chartered was the first foreign bank to commence operations in GIFT City in 2020
PhonePe's Rs 100 daily RD: How it works; app also adds FD investment option
With its latest feature, PhonePe now allows users to easily invest in daily recurring deposits via its user-friendly app. Starting investments is as easy as contributing Rs 100 daily through UPI AutoPay. Additionally, the app simplifies the digital handling of fixed deposits, which are secured up to Rs 5 lakh under the DICGC scheme. Best of all, users can withdraw their funds whenever they choose.
NPS for NRIs: Who can invest, tax benefits, eligibility, withdrawal rules explained
Non-Resident Indians have the opportunity to secure their retirement through investment in the National Pension System (NPS). This program provides considerable tax advantages as per the Indian Income Tax Act, allowing annual contributions to be deducted up to two lakh rupees. While withdrawals made after the age of sixty are primarily tax-free, it's important to note that annuity income is subject to taxation.
Baroda BNP Paribas MF raises Rs 1,200 crore+ from ESG and Services thematic fund launches
Baroda BNP Paribas Mutual Fund raised over Rs 1,200 crore through its ESG Best-in-Class Strategy Fund and Services Fund launches in 2026. The offerings drew investors from more than 5,700 pin codes, highlighting strong demand for thematic, long-term equity investment opportunities across India.
NFO Alert: SBI Mutual Fund launches Magnum Equity Ex-Top 100 Long Short Fund
SBI Mutual Fund has announced the launch of its Magnum Equity Ex-Top 100 Long Short Fund under the Specialized Investment Fund framework. Opening on August 7, the NFO targets long-term capital growth by investing outside the top 100 stocks with a long-short strategy using equity derivatives.
These 5 midcap funds deliver over 20% CAGR in 3 years; Invesco India Mid Cap leads
Five midcap mutual funds delivered annualised returns of over 20% in the last three years, led by Invesco India Mid Cap Fund with a 24.7% return. Meanwhile, five other schemes posted comparatively modest returns, highlighting the wide performance gap within the category.
Retired teacher from Mysore deposits Rs 1.33 crore cash in bank, files no ITR; tax dept issues notice; he wins case in ITAT Bangalore as tax notice was issued 26 days after the limitation period had expired. Know how he won case in ITAT Bangalore.
RBI schedules underwriting auction for 32,000 crore government securities on August 7
The auction will follow a multiple price-based method and will be held through the RBIs e-Kuber system
42 equity mutual funds deliver over 15% CAGR in 10 years, turn lump-sum investments 4x
Around 42 equity mutual funds generated a CAGR of more than 15% over the past decade, turning a Rs 1 lakh lump-sum investment into over Rs 4 lakh. Nippon India Small Cap Fund topped the list with a 20.61% CAGR, while several Quant, HDFC and SBI schemes also delivered stellar returns.
Paramotor Digital Tech to distribute prepaid products of Aditya Birla Capital Digital
Paramotor will undertake the marketing and distribution of ABCDLs prepaid products while ensuring compliance with applicable RBI regulations
Digital transactions like UPI and NEFT can trigger income tax notices. These notices arise when transactions do not match your declared income. The Income Tax Department cross-verifies financial data from various sources. Taxpayers should regularly check their Annual Information Statement and reconcile records. Maintaining transaction records and accurately reporting income prevents unnecessary scrutiny.
IIFL Capital partners with Flytxt to leverage Agentic AI for AUM growth
With over 15 years of AI innovation, Flytxt currently serves more than 80 enterprise customers across 50 countries, helping them transform customer data into actionable intelligence and driving measurable business outcomes
EPFO claim delays, expert & IT staff shortage flagged by officers body; seeks govt intervention
EPFO officers have raised concerns over the backlog of auto claims that have been pending for over twenty days. The newly introduced IT system, CITES, has encountered significant implementation delays. Since 2008, staffing levels have remained stagnant, adversely affecting service quality. Officers are calling for reforms in both the Employees Pension Scheme and the leadership framework, advocating for expert guidance and PFRDA-like withdrawal restrictions to enhance savings.
GIC arm, Dymon Asia among investors in Leap India's 371-cr pre-IPO placement
The company undertook a private placement of 2.34 crore equity shares at an issue price of 159 apiece
Loss of interest in marriage is not a valid ground for divorce under Hindu Law, orders Karnataka HC
Hindu marriage cant be broken merely because husband lost interest in marriage, rules Karnataka High Court and says The marriage under the Hindu Law is a sacrament and it is not a contract. Know what the high court said about Hindu law regarding marriage.
Don't wait until it's too late: Why gifting assets during your lifetime deserves a look
Have 30+ mutual funds in your portfolio? Expert explains what a 60-year-old investor should do
An expert guides a 60-year-old investor on managing a large mutual fund portfolio. The advice focuses on dividing investments into three baskets for liquidity and growth. This strategy aims to balance immediate needs with long-term wealth creation goals. The expert suggests increasing large-cap exposure and avoiding certain fund categories. Restructuring aims to simplify the portfolio and align it with retirement planning needs.
Motilal Oswal's 7 buy calls in finance, tech and more after Q1 earnings
Q1 Results Today, 06th August 2026 Live Updates: Follow Q1FY27 live updates frmo businessline
Shriram General Insurance gross premium rises 23% to 1,180 crore in April-June
Net profit increased 5% to 131 crore in the quarter
Why the RBI is emerging as an Asian rate outlier
The bank has stood apart from regional counterparts ranging from Indonesia to Australia by keeping policy on hold since the Iran conflict erupted.
A potential EPF wage ceiling increase to 25,000 is generating significant employee interest. Read on to know if existing pensioners will receive higher monthly pension amounts.
MPC keeps repo rate unchanged at 5.25%, retains neutral stance amid uncertainty
RBI pares its FY27 retail inflation projection to 5%; marginally ups real GDP projection to 6.7%
No proposal to close concessional swap facility for FCNR(B) deposits before deadline: RBI
Central bank expects healthy inflows into FCNR (B) deposits going forward
RBI targeting polymer currency notes launch in early FY28: Guv Malhotra
Malhotra says polymer currency notes have lasted for over 30 years in some jurisdictions and will come in handy, especially for the lower denomination notes which have high velocity
8th Pay Commission latest news: Employee groups are urging the 8th Pay Commission to raise annual increments significantly. They suggest increasing the rate from three percent to at least five percent. Some organizations propose an increment of six percent annually for employees. Other federations are advocating for a seven percent annual increment rate. This change could substantially boost gross salaries for central government staff.
While there has been no official word from the government on this yet, it is learnt that the Centre could allow a levy of 0.25% to 0.4% as merchant discount rate (MDR) charges on UPI payments above Rs 2000. So, does this mean that the proposal will directly impact you? First understand what MDR is.
Is UPI becoming chargeable? Heres what you need to know
A Bill tabled in the Lok Sabha has led to speculation around MDR on UPI. Expert opinion suggests charges on UPI may not be on the cards
NFO Alert: Edelweiss Mutual Fund launches India's first REIT-based Index Fund
Edelweiss Mutual Fund has launched Indias first REIT-based index fund tracking the Nifty REITs & Realty TRI. The NFO closes on August 19, offering diversified exposure to listed REITs and real estate companies through a low-cost passive investment strategy.
Sovereign Gold Bond investor alert: Check August 2026 SGB premature redemption calendar and schedule
For those invested in Sovereign Gold Bonds, early redemption for select tranches is possible from August 2026. This opportunity arises five years post-issue. Investors should ensure they submit their redemption applications within the stipulated timelines, as the redemption value will reflect gold prices from the previous three working days. Missing the submission period could mean a denial of the premature redemption option.
Invesco India Smallcap among top 9 smallcap funds with highest risk-adjusted returns. Check details
Smallcap mutual funds with Sharpe ratios above 0.70 have delivered strong risk-adjusted returns over the past three years. Bandhan Small Cap Fund topped the list, followed by ITI, Invesco India, and others, according to MF Screener.
PPF rules for NRIs: Can non-resident Indians open PPF account in India?
A Public Provident Fund (PPF) is a long-term, small savings scheme offered by the government of India. The PPF offers an attractive interest rate and tax benefits under the Old Tax Regime. The PPF interest rate is 7.1% for this quarter. Interest earned is tax-free under the Income Tax Act 2025.
Looking to start an SIP in August? Here are mutual fund picks for aggressive investors
On Wednesday, August 5, 2026, gold prices surged, catching the attention of both buyers and investors alike. Tanishq and Malabar Gold & Diamonds, two prominent names in the jewellery industry, announced increased rates across their collections. According to the Indian Bullion and Jewellers Association, both gold and silver witnessed considerable gains, indicating a remarkable shift in the market for precious metals.
RBI proposes to rationalise interest rate framework to boost transparency, consumer protection
For better transparency, RBI directed banks to switch to external benchmarks like repo for loans from the earlier Marginal Cost of Funds framework in 2019
Retirement calculator: How a large age gap between your children could derail your retirement plans
REITs are not fixed income: Radhika Gupta explains why they belong in the equity bucket
REITs are often mistaken for fixed-income products, but Radhika Gupta, MD & CEO of Edelweiss Mutual Fund, explains why they belong to the equity asset class. She highlights that REITs have lower volatility than equities but remain equity investments due to their risk-return profile. Gupta also explains why investors should view REITs as a diversification tool, not a debt substitute.
The Supreme Court has proposed new measures to address widespread non-compliance with mandatory motor insurance laws. Automatic e-challans and a potential 'no insurance, no fuel' system are being considered. The court also extended mandatory third-party insurance periods for new vehicles. Citizens will soon be able to verify vehicle insurance status through a pilot project.
8th Pay Commission: The 8th Pay Commission will hold meetings in Jaipur. These discussions involve central government employees and their representative bodies. Similar meetings have been scheduled for New Delhi, Chandigarh, Chennai, and Puducherry. Stakeholders must submit requests for appointments through a specific online portal.
Savings account interest rate: Unity Small Finance Bank has recently announced a new interest rate of 7% on savings accounts, with even higher returns for amounts surpassing five lakh rupees. In addition, senior citizens can benefit from an attractive 8.50% interest on a special 501-day fixed deposit. Other small finance banks are also rolling out competitive rates. These changes took effect on August 1, 2026.
Consumption story remains resilient despite challenges in specific sectors
Aditya Birla Sun Life AMCs Balasubramanian and Krishnan on oil, currency, consumption, earnings and SIPs
Wife got tax notice as she claimed Section 54F tax exemption by purchasing her husbands own Mumbai property for Rs 7.5 crore; ITAT Mumbai rules that a property transaction between spouses does not become sham merely because they are related. Know how she won the case in ITAT Mumbai.
RBI MPC: Home loan borrowers can breathe a sigh of relief, but how long their good days will last?
RBI repo rate: The Reserve Bank of India has maintained its repo rate at 5.25%, providing ongoing relief for home loan borrowers. This decision allows many borrowers to continue enjoying current low home loan interest rates. However, rising retail inflation and potential rate hikes may lead to higher interest costs soon. Homeowners can explore prepayment and refinancing options to manage future loan expenses. These strategies can help reduce overall interest paid and shorten loan tenures.
RBI MPC repo rate: The Reserve Bank of India maintained its repo rate at 5.25 percent today. Inflation is nearing the upper tolerance band, which could prompt future rate hikes. Banks monitor deposit-credit ratios and government security yields for rate decisions. High interest rates on small savings schemes also influence bank deposit offerings. Lenders may adjust fixed deposit rates soon based on these economic indicators.
Edelweiss Mutual Fund has launched India's first REITs-oriented index fund. This new fund offers investors a unique 60:40 mix of REITs and realty stocks. It aims to provide diversified exposure to India's growing real estate market. Experts suggest it can be a satellite allocation for long-term investors. The fund seeks to balance income stability with capital growth potential.
RBI MPC seen maintaining status quo on rates as easing inflation, strong growth support pause
Analysts are anticipating the central bank to retain its 'neutral' policy stance amid easing inflation, resilient economic growth and comfortable external sector indicators
Best large cap mutual funds to invest in August 2026
According to the Sebi mandate, the large cap mutual funds are mandated to invest in top 100 companies by market capitalisation. Large companies fare better in a volatile market as these companies may be market leaders and resilient to downturns. That is why if you are looking for a relatively safer mutual fund category, you should consider investing in large cap funds.
AI is creating new ways to earn money online in 2026: Here's how to cash in
Why multi-asset funds are becoming investors' go-to choice
Multi-asset funds are becoming core holdings for investors seeking diversification. These funds invest across equity, debt, and precious metals, offering active management. Their popularity is growing as fund managers make allocation decisions for investors. Higher returns over the past year are attributed to gold and silver allocations. Taxation varies based on equity exposure and holding periods for investors.
Building an emergency fund? Here's when a sweep-in FD beats a liquid fund & when it doesn't
Sweep-in fixed deposits and liquid funds offer better returns than savings accounts. Sweep-in FDs provide immediate access for money needed within a week. Liquid funds become more attractive for holding periods around three months. Combining both options balances liquidity, returns, and flexibility effectively. Taxation differs, with FD interest taxed as it accrues and fund gains taxed upon redemption.
Baroda BNP MF names Madhu Nair as new CEO
Madhu Nair has been appointed the new chief executive officer of Baroda BNP Paribas Mutual Fund. He will succeed Sanjay Grover, who served as interim CEO since August 2025. Nair brings extensive experience from various sales and distribution roles in the mutual fund industry. Baroda BNP Paribas Mutual Fund is a joint venture between Bank of Baroda and BNP Paribas.
Experts advise caution as CAS fuels arbitrage fund NAV volatility
Arbitrage fund net asset values saw a significant daily surge after the NSE introduced a closing auction session. Fund managers noted these movements were valuation effects and likely temporary. The new system introduces execution and hedging challenges for arbitrage strategies. Investors are advised against short-term trading and encouraged to extend holding periods. The market is expected to stabilize as participants adjust to the new mechanism.
ESAF Small Finance Bank eyes 1 lakh cr total biz of by 2030
Bank chief outlines universal bank plans
IRDAI tells insurers to mobilise resources for speedy settlement of Assam flood claims
The insurers have been advised to communicate the nomination of a Senior Executive to the Chief Secretary immediately
Ionic Wealth rolls out AI tool for personalised investment portfolio analysis
The feature syncs an investors data from Mutual Fund Central with Ionics internal market, macroeconomic, and asset class knowledge
UGRO Capitals GROx platform disburses 1,853 crore in Q1FY27, crosses 3.4 lakh active customers
GROx AUM reached 3,003 crore on June 30, 2026, a 32% increase from 2,280 crore in March 2026 and nearly four times higher than five quarters ago
10 lakh investment plan: Find the right equity, hybrid and debt allocation for your financial goals
For non-resident Indians, foreign currency non-resident bank fixed deposits remain a favored investment choice. With an uptick in interest rates for tenures ranging from three to five years, Punjab National Bank currently leads with an attractive 6.50% rate on select five-year deposits. Meanwhile, HDFC Bank and ICICI Bank also showcase appealing rates for extended FCNR(B) deposits.
67% higher EPS pension? How Rs 25,000 EPF wage ceiling could increase your monthly payout
EPF wage ceiling: The Employees Provident Fund wage ceiling may increase to Rs 25,000. This change will bring more employees under the EPF and EPS schemes. Employees' in-hand salaries might decrease while their retirement corpus grows. The Employees Pension Scheme pension will likely increase significantly for eligible members. This revision aims to enhance retirement benefits for a larger workforce.
Noida property prices went up by 125% to Rs 10,780 per square feet, Bangalore by 90% to Rs 9,450 per square feet from 2019 to 2026; Know Delhi, Gurgaon, Hyderabad prices. Check the trend.
Senior citizen allotted inconvenient parking spot by builder in 2011 leading her to park car in open space; Housing society levied penalty on her for parking in open space; Maharashtra Co-Op Appellate court gives her relief and orders society to give her a convenient spot
TRUSTMF Small Cap Fund among 7 mutual funds to deliver over 20% return in 1 year
Just seven equity mutual funds delivered returns above 20% over the past year, led by TRUSTMF Small Cap Fund at 28.16%. Most top performers were smallcap funds, alongside focused, value, and midcap categories.
These 5 midcap mutual funds had maximum mid and small cap exposure in June. Check details
Here is the detailed exposure of the top 5 mid-cap funds with maximum mid & small cap exposure in June, as reported by ET Wealth.
NFO Alert: Jio-BlackRock enters India's ETF market with Nifty50 fund
JioBlackRock Mutual Fund has launched its first exchange-traded fund, the JioBlackRock Nifty 50 ETF, marking its entry into India's fast-growing ETF market. The NFO is open until August 11. The passive fund will track the Nifty50 Index, offering investors exposure to India's 50 largest listed companies through a single investment and broad participation in the country's equity market.
The Expenditure Department has granted approval to increase the EPF wage ceiling to Rs 25,000, aiming to expand mandatory provident fund and pension plans to more employees.
RBI seen holding rates as inflation risk stay in focus
The committee is also likely to retain a neutral stance, with inflation remaining within the RBIs 2%-6% tolerance band and Malhotra signalling policymakers would act only if price pressures become more broad-based
MCX, Radico Khaitan among 4 common stocks held by 5 top-performing smallcap funds
The five top-performing small-cap funds over the past year shared four common stocks in their portfolios as of June 2026, according to ACE MF data.
EPFO e-Office app services to remain unavailable on this date due to system upgrade
Attention users: The Employees Provident Fund Organisation e-Office application will not be accessible on August 5 for essential system upgrades initiated by the NIC e-Office team. This means certain functionalities will experience constraints. Additionally, EPFO services through the UMANG app will also face downtime due to system migrations. Expect mild delays in processing claims and services during this period.
ET Wealth Reader's Query: I own a 2-BHK flat and my wife is a joint owner. We have two children, who are settled abroad. After my death, the housing society will transfer the flat to my wife, based on nomination and my will (unregistered). After the transfer, can she sell the flat without a no objection certificate (NOC) from our children? If she doesnt sell it, can she transfer it to our son via a gift deed without an NOC from our daughter?
Quant MF ups IT exposure as sector enters neglected territory; sees crude correction
Quant Mutual Fund has raised its exposure to IT services over the past two months, viewing the sector as increasingly neglected and offering attractive opportunities. Its predictive analytics model also expects crude oil prices to gradually decline over the coming months, which the fund house believes could support Indian equities.
Ashika Global Securities net up 15%, plans 1000 cr fund raise via QIP
Board also approved plans to raise 1,000 crore through a Qualified Institutions Placement, subject to shareholders and regulatory approval.
Bank Retirees body wants payment of ex-gratia to private sector bank pensioners
AKBRF alleged that private sector banks such as DLB, Kotak Mahindra Bank, Karnataka Bank, Karur Vysya Bank, RBL Bank and SIB have not implemented payment of ex-gratia to the pensioners
NPCI explains how scammers target your money; shares tips to protect your bank account, UPI
A life insurer denied a seventy lakh death claim after a policy lapsed. The policyholder had paid seven lakh as the first year premium. The consumer commission ordered the insurer to refund this initial premium payment. This decision prevented unjust enrichment by the insurance company. Policyholders must pay premiums on time to maintain active life cover.
Selling Indian investments triggers capital gains tax for NRIs, with rules varying by asset type. Property sales offer significant tax reduction opportunities through reinvestment and documentation. Agricultural land taxation depends on its location, with rural land generally exempt from tax. Listed shares and mutual funds have specific tax treatments and exemptions for long-term gains. Careful planning and seeking expert advice are crucial before selling any Indian asset.
Govt to offload 6.54% in LIC, likely to get over 31,000 crore
Based on the floor price, it is expected to generate over 31,000 crore for the government, marking the largest OFS proceeds to date
Private banks top FCNR (B) deposit drive led by ICICI, HSBC; SBI No. 1 PSB
The scheme aims to attract stable foreign currency inflows, strengthen Indias balance of payments, bolster forex reserves and support rupee stability
Monisha Chakraborty named RBI Executive Director; to oversee forex and financial markets departments
A career central banker with over 30 years experience, Chakraborty previously served as Chief General Manager, Department of Supervision
Sundaram Finance consolidated net profit up 34 per cent in Q1 FY27
Total disbursements grew by 22% to 8,947 crore
Financial services landscape undergoing a fundamental shift: JFSL chief
KV Kamath says era of traditional moats being challenged
HDFC Bank launches new savings accounts for senior citizens, women: Check features and benefits
HDFC Bank introduced two new savings accounts for specific customer groups. The Special Senior Citizen Savings Account offers security and doorstep banking services. Women can avail the SavingsMax Account with lifestyle and health benefits.
ICICI Lombard unveils 25 product innovations on 25th anniversary
The announcements come as Indias largest private general insurer crosses 25 years of operations, having served over 500 million customers and settled more than 60 million claims
PhonePe Mutual Funds sees 5X growth in Daily SIP transactions driven by demand from smaller cities
PhonePe Mutual Funds onboarded over 500,000 unique investors into its Daily SIP product. Nearly seventy-seven percent of these customers came from tier-two and tier-three cities. Daily SIP transactions increased nearly five-fold between January and June 2026. Younger investors aged eighteen to twenty-nine formed fifty-eight percent of the investor base. This feature allows small, regular contributions, aligning with daily cash flows.
