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RBI plans simpler cross-border payment approvals to boost MSMEs, exporters: EY report
The Reserve Bank of India (RBI) is looking to simplify cross-border payment approvals and reduce regulatory friction for businesses and exporters as part of its Payments Vision 2028, according to an EY report, which identified cross-border payments as a key strategic priority for the next phase of India's digital payments growth.
9 equity mutual fund categories attract inflows in May; flexicap funds lead the pack
Equity mutual fund inflows fell 40% in May to 22,907 crore. Flexicap, smallcap and midcap funds remained investor favourites, while ELSS and dividend yield funds recorded net outflows.
HDFC Flexi Cap Fund among 8 equity mutual funds that saw inflows of over Rs 1,000 crore in May
Equity mutual funds continued attracting strong investor interest in May, with eight schemes receiving over Rs 1,000 crore each. HDFC Mid Cap Fund led inflows, while smallcap and midcap funds remained popular.
Parag Parikh Flexi Cap Fund : ITC, HDFC Bank and Cipla among stocks bought and sold in May
Parag Parikh Flexi Cap Fund, India's largest active mutual fund, increased exposure to several banking and IT stocks in May, trimmed its holding in Cipla, and maintained a 14.77% cash allocation.
Gold prices saw an increase on Saturday, June 13, 2026, impacting leading Indian jewellery brands. Tanishq, Malabar Gold & Diamonds, and Joyalukkas reported higher rates for 22k gold jewellery across major cities. IBJA rates for June 12, 2026, also indicated a rise in gold and silver prices.
7 must-know things about EPS-95 pension: Eligibility, pension formula, family benefits and more
The Employees' Pension Scheme, 1995, offers vital retirement benefits for organized sector workers. Managed by the Employees' Provident Fund Organisation, it provides monthly pensions, family pensions, and disablement pensions.
Yes Securities expects headline CPI for Q1FY27 to undershoot RBI's 4.2% forecast as the May print at 3.93% y-o-y and benign base effects keep the average low
5 small savings schemes offering up to 8.2% interest rate in 2026: SCSS, PPF, NSC and more
Small savings schemes, popular for conservative investors, will retain their interest rates for the April-June 2026 quarter, offering returns up to 8.2% per annum. Schemes like SCSS and SSA provide attractive rates, while NSC, MIS, and PPF offer stable returns with tax benefits for long-term wealth creation.
Celebrities are buying land in temple cities; but should you follow suit and buy property?
Celebrities are investing in temple cities like Ayodhya, drawn by cultural significance and potential for long-term asset growth. These spiritual hubs are experiencing rapid infrastructure development and rising tourism, driving property appreciation. Individual buyers should research economic fundamentals and infrastructure pipelines rather than solely following celebrity trends.
Saturday bank holiday: Are banks open or closed today on June 13, 2026?
Bank holiday today: Banks across India are closed today, Saturday, June 13, 2026, as it marks the second Saturday of the month. While physical branches are shut, customers can still access various digital banking services for fund transfers, account management, and payments.
NCLT declares Congress MLC Naseer Ahmed insolvent over Rs 1,454 crore loan default
The ruling also triggers legal provisions that could disqualify him from holding elected office
IRDAI cautions public on Stareureka Insurance Marketing firm
The IMFwas granted a Certificate of Registration (CoR) by the Insurance regulator to operate as an Insurance Marketing Firm (IMF) for the period from May 18, 2020 to May 17, 2023
Equirus Raghnall Insurance Broking expects 35% growth in FY27
The insurance broker and risk advisor has largely been focussing on strengthening relationships with mid-market and SME clients rather than pursuing growth purely through scale
RBI places Mogaveera Co-op Bank under Directions for 6 months
Bank permitted to allow depositors to withdraw up to 1 lakh; eligible depositors would be entitled to receive deposit insurance claim amount of their deposits up to a monetary ceiling of 5 lakh
The Latest Fixed Deposit Interest Rates: Jun 12, 2026
The Latest Fixed Deposit Interest Rates: Jun 12, 2026
The Latest Home Loan Interest Rates: Jun 12, 2026
The Latest Home Loan Interest Rates: Jun 12, 2026
CA tells why Rs 1 crore retirement corpus can be insufficient for you and how much you need
A Rs 1 crore retirement corpus is a 'trap', not a milestone, warns Chartered Accountant Nitin Kaushik. With 6% inflation, its purchasing power halves every 12 years, potentially leaving retirees below the poverty line. Kaushik advises targeting 35 times annual expenses for a realistic retirement fund, suggesting Rs 3.5 crore for Rs 10 lakh annual costs.
Bollywood actor Kriti Sanon, her mother Geeta Sanon, and sister Nupur Sanon have sold four apartments in Andheri West for Rs 8.9 crore. The family recorded a long-term capital gain of Rs 4.6 crore from this property sale. The transactions involved two units at Raheja Classique sold for Rs 3.23 crore each and two others for Rs 1.21 crore each.
The P3P AI agent can complete a UPI payment without any human authentication. However, the human still stays in control. Currently, AI agents need a human authentication step, an MPIN, to make any payments. Pine Labs has removed this wall. It builds on UPIs existing mandate framework - UPI One Time Mandates (OTM) and Reserve Pay.
SBI, Bank of Baroda eye first dollar bonds since RBI subsidy, sources say
The RBI said this week that external commercial borrowings with an average maturity of at least three years by state-run companies would qualify for a swap facility at a fixed rate of 1.5% per annum, compounded semi-annually
Motorcycle planted in road accident case for insurance claim from ICICI Lombard
According tothe insurer, a Special Investigation Team (SIT), which looked into a 2015 road accident case to claim insurance benefits illegally from ICICI Lombard, has revealed an implantation of the motorcycle
City Union Bank increases FCNR(B) deposit rates to 7.10%
The revised rate came into effect on June 10, 2026, and applies to NRI customers
Today's gold price (24k, 22k, 18k): Gold and silver prices surged on Friday, June 12, 2026. This rise follows a rebound from previous day's lows. Experts attribute the increase to easing inflation worries and expectations of geopolitical stability. Leading Indian jewellery brands and IBJA reported higher rates. This marks a significant jump compared to the prior session, reflecting market optimism.
Quant Small Cap Fund increased exposure to Adani Enterprises and eight other stocks in May while reducing holdings in Aurobindo Pharma and four more. The fund also added six new stocks, exited three positions and maintained a defensive tilt through a higher large-cap allocation.
7 mutual funds multiplied investors' wealth up to 20 times in two decades. Check the performers
Seven equity mutual funds turned long-term investments into 12-20 times their original value over 20 years. Midcap and flexicap funds dominated, with Nippon India Growth Mid Cap Fund leading wealth creation.
IIFL estimates the scheme could unlock 2.55 trillion in additional credit amid global headwinds.
GIFT City investment: Heres how resident Indians can invest in global stocks, ETFs, and mutual funds
Indian investors can now access global stocks, mutual funds, and bonds through GIFT City, India's first smart city and International Financial Services Centre. This initiative bypasses domestic investment caps, offering various products with minimum investment thresholds starting from USD 5,000 for mutual funds and USD 150,000 for AIFs.
Revised FCNR interest rates up to 7.13%: PNB, ICICI Bank, Axis Bank and others revise rates
FCNR interest rates: Banks are increasing interest rates on Foreign Currency Non-Resident (FCNR-B) deposits for NRIs, OCIs, and POIs. This follows the RBI's announcement to cover hedging costs for new 3 to 5-year deposits until September 2026. Axis Bank now offers up to 6% on these schemes for select tenures.
US-based peer-to-peer payment gateway Zelle to expand services in India
Zelle enables financial institutions of all sizes to offer near-instant cross-border remittances through trusted banks and credit unions
7 retirement planning tips for regular income and long-term financial security
Smaller lenders offer over 7% on USD deposits in bid to attract FCNR(B) deposit rates
This follows RBIs recent proposal aimed at boosting US dollar inflows
The Supreme Court has settled India's online gaming tax dispute. GST will now be charged on the full value of player deposits, not just the operator's commission. This ruling impacts online rummy, fantasy sports, and casinos. The court confirmed the tax is on the entire stake, regardless of skill. This decision brings clarity to the industry after years of litigation.
Small savings schemes vs Nifty indices: While equities have shown muted returns recently, small savings schemes have offered stable returns of up to 8.2%. Despite short-term volatility in indices like Nifty 100 and Nifty Midcap 150, small savings schemes provide a reliable option for conservative investors. Equities, however, offer superior long-term wealth creation potential for those with a higher risk tolerance and a longer investment horizon.
8th Pay Commission calculator: Could Level 1114 employees get 13 lakh to 53 lakh in arrears?
Warren Buffett's business partner and the longtime Vice Chairman of Berkshire Hathaway - Munger passed away in November 2023, but his astute words continue to reverberate with the investing community. Munger had often spoken about patience when it comes to real wealth creation.
Sectoral and thematic mutual fund inflows saw a significant drop in May, falling by 67%. This decline suggests investors are moving away from concentrated bets towards diversified strategies. Experts believe this trend reflects a natural shift during market uncertainty. While some sectors show strong performance, others lag, making sector selection challenging.
Gold vs stocks: Has Warren Buffett been wrong about the yellow metal all along?
Gold and silver ETFs gain up to 5% on US-Iran peace hopes. Should investors add exposure now?
Gold and silver ETFs gained sharply on Friday as precious metal prices rallied amid optimism over a potential US-Iran peace agreement. Experts advise investors to maintain 510% portfolio exposure through Gold ETFs and silver funds, using a staggered investment approach and avoiding panic-driven decisions.
Regular FD vs Auto-Sweep FD: What earns you more interest without locking up your money?
Best value funds to invest in June 2026
Value investing has dominated the Indian stock market, with value funds delivering strong returns while growth funds lagged. Investors are advised to understand the merits and demerits of this strategy, as it requires patience and may involve periods of underperformance. A maximum of 20% investment in value funds is recommended.
Salaried employees beware! These 5 mistakes during ITR filing can trigger unexpected tax demands
With the ITR filing season for AY 2026-27 now underway, many salaried taxpayers who faced TDS shocks in the last quarter of FY 2025-26 are now encountering self-assessment tax and interest liability while preparing to file their income tax returns. This article outlines five practical ways, including the use of Forms Nos. 122 and 124, through which salaried employees can avoid such tax shocks for Tax Year 2026-27.
Can you sell household items worth more than Rs 2 lakh in cash?Check the tax rules
A woman successfully challenged the Income Tax Department's addition of Rs 10.80 lakh as unexplained cash. The ITAT Chennai ruled in her favor, accepting her explanation for cash deposits from a property sale and sale of household items. The tribunal noted individual transactions for household items were below the Rs 2 lakh threshold.
Govt nominates DFS Secretary Lohiya on central boards of RBI and SBI
Lohiya nomination follows the superannuation of Nagaraju Maddirala
Attractive short-term interest rates trigger demand for short-term funds from banks and India Inc
Experts observed that the current softness in money market rates makes short-term funding attractive
India, Nepal launch cross-border remittance mechanism; links UPI, NPI
India and Nepal have launched a new system for money transfers. This links India's UPI with Nepal's NPI. Citizens can now send money instantly using mobile apps. This makes payments easier for travellers and businesses. It also boosts economic ties between the two nations. This initiative enhances financial inclusion and digital integration.
The Bombay High Court, in its ruling, said a builder cant indefinitely retain purchasers money while failing to deliver homes. For the delay, the HC ordered the Mumbai-based builder to pay interest at 10.05% per annum from February 1, 2014, to the buyers until the possession is handed over.
HDFC Life pegs claim settlement ratio at 99.7% in FY26
HDFC Lifesays it is leveraging digital workflows, automation, AI-led validation, and analytics to simplify claims assessment and processing
SBI, ICICI, HDFC Bank raise FCNR(B) rates to tap NRI foreign currency deposits
The move follows the Reserve Bank of Indias foreign currency swap window announcement, which reduced the currency hedging cost for banks and enabled them to offer higher returns
Hybrid Long-Short Funds have dominated SIF inflows since October 2024, accounting for 72% of the total Rs 13,625 crore invested across strategies, according to ValueMetrics.
Looking for best mutual funds to invest in? Here are the top 10 picks
Choosing mutual funds based only on online rankings or recent performance can be misleading. ETMutualFunds shortlisted 10 equity funds across five categories using rolling returns, consistency, downside risk, outperformance and asset size. Investors should select funds based on financial goals, investment horizon and risk appetite.
NFO Alert: ICICI Prudential Mutual Fund launches Nifty Smallcap 250 ETF
ICICI Prudential Mutual Fund has launched the Nifty Smallcap 250 ETF, offering exposure to 250 emerging companies. The NFO is open till June 16. The passive fund aims to track the index with minimal cost, targeting investors seeking diversified, long-term participation in Indias growing smallcap segment.
Parag Parikh Flexi Cap Fund raises stake in ITC, HDFC Bank and 14 other stocks in May
Parag Parikh Flexi Cap Fund, Indias largest active flexi-cap scheme by AUM, raised exposure to ITC, HDFC Bank and 14 other stocks in May, according to PPFAS Mutual Funds latest portfolio disclosure. The fund added 4.46 crore ITC shares, taking total holdings to 28.78 crore, while increasing its HDFC Bank position by 47.20 lakh shares.
Can 1.5 crore generate 1 lakh every month after retirement? The answer may surprise you
Gold jewellery rate today: Gold prices experienced a downward trend on Thursday, June 11, 2026, with major jewelers implementing reduced rates per gram. This decline follows a sharp correction in bullion prices, impacting 22-karat, 24-karat, and 18-karat gold jewelry rates across major cities.
Banks look to foreign funding to maximize RBIs bazooka
Lenders have sought clarity on using NRI deposits as collateral to help attract additional foreign capital under the RBIs latest scheme.
SAMCO Securities launches global investing platform through GIFT City
The platform will provide research coverage on more than 700 global securities, including constituents of the S&P 500, NASDAQ 100 and over 100 ETFs, SAMCO Group Founder and CEO Jimeet Modi said
PM Kisan 23rd instalment: When will farmers receive the next 2,000 payment?
HDFC Bank likely to emerge as key beneficiary of RBIs FCNR-B Revival: Jeffries
Jefferies says the lender was the largest mobiliser under the 2013 scheme, while fresh RBI measures could support foreign inflows and future growth
The Reserve Bank of India has set the premature redemption price for Sovereign Gold Bond 2019-20 Series-I. Investors can redeem these bonds from June 11, 2026. The redemption price is fixed at Rs 15,038 per unit. This offers investors a significant return of approximately 378% on their initial investment.
Crisil upgrades long-term credit rating of Muthoot Microfin
The upgrade is expected to improve its access to diversified funding sources at competitive rates
Canara Bank, Bank of Baroda increase lending rates: Why loan EMIs for these borrowers may rise
Bank of Baroda and Canara Bank have raised their lending rates. These changes are effective from June 12, 2026. Loans linked to these rates will become more expensive. This follows the Reserve Bank of India's decision to maintain the repo rate. HDFC Bank also adjusted its MCLR rates recently.
Are mutual fund investors losing interest in gold ETFs and multi asset allocation funds?
Gold ETFs and multi-asset allocation funds experienced a moderation in investor inflows last month, with gold ETFs seeing a net outflow of Rs 725 crore. Experts advise against over-interpreting single-month data, emphasizing long-term portfolio objectives and strategic asset allocation over short-term trends.
Gold and silver ETFs tumbled on Thursday as precious metal prices fell sharply amid heightened geopolitical tensions, rising crude oil prices and inflation concerns. SBI Gold ETF was the worst-hit gold fund, while silver ETFs also posted losses, prompting investors to reassess buying opportunities in the segment.
Best focused mutual funds to invest in June 2026
Focused equity mutual funds, investing in a maximum of 30 stocks, offer the potential for higher returns but also carry increased risk. These schemes require a higher risk appetite and a longer investment horizon of around seven years. Investors can explore recommended funds like 360 ONE Focused Equity Fund, SBI Focused Fund, Sundaram Focused Fund, and Quant Focused Fund.
UP RERA is strongly advising homebuyers to purchase properties based on carpet area, not super built-up area. This ensures buyers pay only for usable living space, as super area includes shared common facilities. Homebuyers can verify the carpet area on the UPRERA portal before making any investment decisions.
Why AI may not take your job, but could destroy the middle class dream forever
ITR filing 2026: 9 key checks every taxpayer must make for AY 202627
India's income tax administration has become increasingly data-driven, with information from TDS/TCS reporting, SFT filings and other sources being integrated into the Annual Information Statement (AIS) and used to cross-check taxpayer disclosures. In this environment, filing an accurate and complete ITR is essential to avoid refund delays, tax demands, penalties, compliance alerts and notices.
A daughter, a co-owner of family property through an oral arrangement, has won a tenant eviction case in the Supreme Court. The court ruled that co-owners are considered co-landlords under the Bombay Rents Act. This allows them to initiate eviction proceedings for genuine personal need. The ruling clarifies that exclusive ownership or formal partition is not required.
War-wary, May equity MF inflows fall 40% to year low
Equity mutual fund inflows experienced a significant 40% drop in May, reaching a 12-month low of 22,908 crore. This decline, the steepest since May 2023, occurred as investors reduced lump-sum investments due to escalating West Asia conflict concerns. Meanwhile, Systematic Investment Plan (SIP) flows remained robust, showing only a marginal decrease.
RBI may ask banks to adopt risk-based internal audit approach
The primary objective of RBIA is to provide the Board or its committees with reasonable assurance on the adequacy and effectiveness of the institutions risk management and internal control framework.
Banks raise MCLR amid tight liquidity
Canara Bank raised MCLR for overnight to six-month tenures by 5 bps, while leaving longer-tenure rates unchanged
Banks can lend only to SEBI-registered and listed REITs, InvITs: RBI guidelines
REITS and InvITs are investment vehicles that allow investors to invest in real estate and infrastructure assets respectively
RBI cancels registration certificates of 135 NBFCs
The Reserve Bank of India has cancelled the registration of 135 non-banking finance companies. Thirteen other companies have surrendered their licenses. These actions are due to various reasons including exiting the business or ceasing to be legal entities. Many of the cancelled companies were based in West Bengal. This move impacts the financial landscape.
Banks kick-off rate hikes on FCNR (B) deposits
Peak interest rates touch 7%, or thereabouts
Latest FCNR interest rates: HDFC Bank, SBI, ICICI Bank, PNB, Central Bank of India and more
Several Indian banks have updated their Foreign Currency Non-Resident Bank FCNR(B) interest rates. This comes after the government announced it would cover hedging costs for new 3 to 5 year FCNR(B) deposits. This initiative benefits Non-Resident Indians and others. Central Bank of India is offering a 6% interest rate on these deposits.
Indian banks likely to see further decline in bad loans despite economic challenges: Report
The report said major lenders are likely to see further declines in bad-loan ratios, supported by stronger balance sheets and improved recovery mechanisms
GIFT City opens applications for second fintech cohort to support early-stage start-ups
Selected participants to undergo three months of in-person residency at GIFT City, followed by three months of virtual support dedicated to product development, market validation, and ecosystem engagement
13 mutual funds collect Rs 471 crore in May, Motilal Oswal Contra Fund contributes Rs 267 crore
Global AI debt issuance to double to $570 billion in 2026, Morgan Stanley estimates
A number of big-bang funding plans have been announced recently for the AI buildout
Sebi proposes consolidated disclosure norms for executive pay at AMCs
Sebi has proposed enhanced remuneration disclosure norms for mutual fund asset management companies, including consolidated disclosure of executive pay and employee count. The regulator also suggested limited access to scheme-level fund manager remuneration details for investors to strengthen transparency and corporate governance.
Gold ETFs see first outflow in a year, silver ETFs bleed for fourth straight month
Gold ETFs saw their first outflow in over a year in May, while silver ETFs extended losses for the fourth straight month, according to AMFI data. Gold ETFs recorded an outflow of Rs 725 crore versus an inflow in April, while silver ETFs saw a Rs 2,133 crore outflow, taking total withdrawals over four months to Rs 3,770 crore.
Indian 10-year bond falls sharply on tax relief-driven FPI buying
Benchmark 10-year yield drops 10 basis points in four days as foreign investors pump over 11,000 crore into government securities.
FCNR deposit in demand: $1,277 extra interest on $10,000 investment by NRIs after RBI's latest move?
FCNR interest rates: The Indian government will now cover hedging costs for fresh 3 to 5-year FCNR(B) deposits until September 30, 2026. This move allows banks to offer higher interest rates to Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs). An NRI may now earn an additional $1,277 on a $10,000, 5-year FCNR(B) deposit.
Karur Vysya Bank hikes FCNR (B) US Dollar interest rate by 437 bps for maturities of 3-5 years
The FCNR(B) US Dollar deposit rates for these maturities will be 7% per annum from the earlier 2.63%
Gold and silver prices saw a decline on Wednesday, June 10, 2026, as major Indian retailers reduced rates. This drop is attributed to heightened global uncertainty stemming from Middle East geopolitical tensions and shifting US interest rate expectations.
Is RBI replacing paper currency with plastic notes from June 30, 2026? Check details
Viral social media claims about the Reserve Bank of India replacing paper currency with plastic notes by June 30, 2026, are false. The Press Information Bureau's fact-check team has debunked these posts. The RBI is considering polymer currency but no final decision is made. Citizens should rely on official sources for currency information.
