32 C 
IRDAI slaps 1 crore penalty on Nissan Renault Financial Services
The regulator also directed the firm to place the order before the Board of the Corporate Agent in the upcoming Board Meeting
RBIs wallet curbs may force fintechs to redraw growth plans
The regulator has also proposed restricting minimum-KYC wallets to payments for goods and services, effectively barring their use for person-to-person transfers
The proportion of SCBs savings deposits declined from 34.6% in March 2022 to 28.7% in March 2026
Karnataka Bank conducts annual conference of concurrent and internal auditors
The conference served as an important platform for discussions on best practices in internal control and governance
UPI clocks record volume and value in May on summer spending boost
Average daily transaction volume stood at 748 million, while the average daily transaction value was 96,465 crore
West Asia Crisis: Banks sanction 35,000 cr loans under Emergency Credit Line Scheme to MSMEs
The scheme, approved by the Union Cabinet on May 5, aimed at providing additional credit flow of 2.55 lakh crore, including 5,000 crore for airlines hit by the ongoing geopolitical crisis
Crypto exchange Binance rolls out trading in US stocks, ETFs
The April 2026 AICPI-IW data has raised expectations of a possible 3% dearness allowance (DA) hike for central government employees, though the final rate will depend on May and June inflation data. The 12-month average AICPI-IW from May 2025 to April 2026 stands at 147.51, translating to an estimated DA of 62.51%, which could be rounded to 63%. If approved, a 3% DA hike would increase the salary of a Level 5 employee by about Rs 876 per month.
HDFC Asset Management Company gets HC relief in cyber theft case; injunction granted against hackers
The order was passed on an application and suit filed by HDFC Asset Management Company Limited seeking an injunction against the hackers from using, publishing, distributing or disclosing to any person the stolen confidential data
Gold prices saw a dip today, Monday, June 1, 2026. This movement occurred amidst geopolitical tensions stemming from US claims of attacks on Iranian military bases. US President Donald Trump indicated Iran's desire for a deal.
UPI withdrawal for EPF soon! EPFO members can transfer money using UPI PIN Heres how it will work
Post Office MIS vs mutual funds: Which is better for income-seeking investors?
Post Office Monthly Income Scheme (POMIS) offers predictable, government-backed monthly income, attracting retirees and conservative investors. While safe, its returns may not beat inflation, and interest is taxable. Experts suggest a balanced approach, combining low-risk options like arbitrage funds for income with equity funds for long-term wealth creation.
UIDAI's New Aadhaar App: How to set up your account and transfer from mAadhaar
UIDAI has launched a new Aadhaar App, replacing the older mAadhaar. This app offers enhanced security with face authentication and biometric lock. Users can manage their digital identity and share Aadhaar data securely. The app allows access to all Aadhaar details on smartphones. Updates like mobile number and address can be done through the app.
UPI transactions hit record high of 29.9 lakh cr in May
The UPI transaction in volume terms was 22.35 billion recorded in April,
SBI Small Cap among 5 smallcap funds with highest cash holding. Check details
Several small-cap mutual funds maintained elevated cash positions in April, reflecting a cautious approach amid market conditions. Bandhan Small Cap Fund held the highest cash allocation at 13.2%, followed closely by Groww Small Cap Fund at 13%. SBI Small Cap Fund, HDFC Small Cap Fund and Quantum Small Cap Fund also maintained sizeable cash reserves, potentially providing flexibility for future investment opportunities.
ITR-2 filing for AY 2026-27 is live: Who must file, key deadlines & costly mistakes to avoid
Rs 1.5 lakh yearly in PPF: Check how it can grow into Rs 1.54 crore tax-free corpus
No need for repo rate hike, RBI can use short-term rate tools to manage rupee: SBI
The report also argued against a repo rate hike even as global uncertainties and elevated crude oil prices continue to create pressure on currencies and financial markets
Coinbase offers trading using Indian rupee
Coinbase, which had discontinued its services in India in 2023, resumed crypto trading last year
Top NPS equity funds offer up to 14% returns in 3 years. Heres the list
National Pension System (NPS) fund managers have delivered strong returns over the past three years, with several schemes generating double-digit gains. Tata Pension Management led the pack with a return of 13.56%, closely followed by ICICI Prudential Pension Fund at 13.39%.
Q4 Results Highlights Today Live Updates: Stay tuned to businessline for the latest live updates on Q4 earnings.
International mutual funds are leading in returns, driven by global markets and currency gains. However, Indian investors face hurdles due to overseas investment limits imposed by the RBI. Experts advise continuing existing SIPs but caution against new investments. Investors are exploring alternative routes like LRS and GIFT City for global diversification as fund houses restrict inflows.
10 government jobs that pay more than most private sector salaries in India
Best mutual fund SIP portfolios to invest in June 2026
ETMutualFunds offers curated mutual fund portfolios for conservative, moderate, and aggressive investors. These recommendations are designed for SIP investments and cater to various investment amounts. The portfolios are updated regularly based on a robust in-house methodology. Investors can now easily select schemes to meet their long-term financial objectives.
The Ministry of Finance has launched a new portal to help citizens find forgotten money. This initiative, called 'Your Money, Your Right', allows people to trace unclaimed bank deposits, insurance policies, and mutual fund investments. It also helps shareholders claim unpaid dividends and shares.
7 things happening to your credit score right now (if you have multiple credit cards)
Leave encashment tax rules for AY 2026-27: How much exemption salaried employees can claim
Salaried employees can claim tax exemption on leave encashment at retirement. While government employees enjoy full exemption, private sector employees have a limit of Rs 25 lakh, subject to specific calculations based on earned leave and salary. This income is reported under 'Income from Salary' in the ITR.
Homeowners in possession must pay maintenance charges even without an Occupation Certificate or independent water and sewerage facilities. The Himachal Pradesh RERA ruled that if owners are availing basic services they cannot deny payment obligations. However, the builder must ensure charges are reasonable and transparent, and was thus ordered by authority to obtain OC/CC within three months.
Loan recovery harassment? Know your legal rights
Borrowers struggling with debt often face harassment from recovery agents through abusive calls, threats, public shaming, and unauthorised visits, despite RBI rules prohibiting such practices. Experts say many borrowers are unaware of their rights and grievance mechanisms. RBI guidelines allow complaints against harassment and provide borrower protections, while debt restructuring and one-time settlements can help resolve repayment difficulties and reduce financial stress.
Mutual Fund PMS: More costs, less returns?
If youre considering mutual fund portfolio management services (MF-PMS), ask three questions. First, can the manager show post-fee returns for his strategy versus a simple direct fund portfolio over the last 10 years? Second, how often does he rebalance, and whats the post-tax cost? Third, does he have skin in the game on the downside, or is his profit share a one-way bet?
Weak rupee sparks scrutiny of Indian companies
The rupees sharp depreciation, down about 10% against the dollar in the past year, has become a key concern during corporate earnings calls. Investors are increasingly questioning companies about hedging and forex risk management. While exporters benefit from higher overseas revenue, importers face rising costs. Companies across sectors are strengthening hedging strategies as speculation grows that the rupee could weaken further.
Decode market trends with 5 technical analysis tools
Technical analysis helps investors understand market trends and sentiment through price charts, complementing fundamental analysis, which identifies quality businesses. Key tools include charts, trend analysis, support and resistance levels, moving averages, and trading volumes. While technical indicators can improve entry and exit timing, they work on probabilities, not certainty. Experts advise retail investors to prioritise fundamentals and use technical analysis only as a supporting tool.
No easy contrarian bets left: SBI MF's Balachandran
Dinesh Balachandran, HeadInvestments, SBI Funds Management, runs some of SBI Mutual Funds (MF) largest schemes, including SBI Contra Fund, SBI Multi Asset Allocation Fund and SBI Balanced Advantage Fund. In this conversation with Sanket Dhanorkar, he shares how he navigated the correction of the last two years, what the fund houses in-house asset allocation model now reveals, and how his investing approach has changed over the years.
NPS RIS explained: Pros, risks and suitability
The Pension Fund Regulatory and Development Authority (PFRDA) has introduced the Retirement Income Scheme (RIS) under NPS, allowing retirees to receive systematic payouts from the 80% withdrawable corpus until age 85 while keeping funds invested. RIS aims to improve income stability, corpus longevity, and inflation-beating returns. However, payouts remain market-linked, tax treatment remains unclear, and the scheme may be complex for some retirees.
Credit card perks shrink: Maximise what you have
Many banks have recently reduced credit card rewards, cashback limits, and perks, prompting cardholders to reassess their spending strategies. Experts advise optimising existing cards rather than cancelling them, diversifying across 23 cards, and using rewards strategically. Linking RuPay credit cards to UPI can boost benefits on everyday transactions. Ultimately, maximising value depends on understanding card features and aligning spending with reward structures.
A SIP portfolio no one is watching? Few simple fixes
At least once a year, pull a consolidated account statement to see everything in one go: check for overlap across schemes; flag any fund trailing its benchmark and peers for three years or more; confirm nominations are in place; and ensure at least one other person in your household knows where all your investments are.
10 types of cyber hackers: Red, Blue, Hacktivists
Extremely skilled at handling computer software and hardware, hackers are categorised into various types depending on their intent and purpose, and are mostly denoted by different coloured hats. In the 105th part of this series, Riju Mehta lists the various categories of hackers.
RBIs rate setting panel may keep repo rate on hold
Risks to inflation and growth stem from spike in global fuel and commodity prices, supply chain disruptions, financial markets volatility, weather-related disruptions and a depreciating Rupee
SBI Research calls for stronger RBI intervention as rupee slide outpaces fundamentals
Depreciation excessive and not aligned with Indias strong fundamentals, says report
Central Bank to enter wealth management, credit card biz in H2 FY27
Bank to target its own corporate customers who are availing these facilities from other banks.
LIC eyes foray in fintech space, strategic investment also on table: CEO Doraiswamy
As LIC navigates its digital transformation, CEO R Doraiswamy outlines plans to explore partnerships with fintech and insurtech firms while considering strategic investments to enhance innovation and improve returns for policyholders.
Digital payments have significant room for expansion; no slowdown in transaction growth: Paytm CEO
According to Sharma, AI can help businesses improve customer engagement, discover new ways of reaching consumers and enhance operational efficiency, making companies more scalable and competitive
These 7 equity mutual funds lost up to 7% in May. Part of your portfolio?
Equity mutual funds witnessed a weak May, with the worst-performing schemes losing up to 7%. International and sectoral funds dominated the laggards' list, led by HSBC Brazil Fund. Several consumption, FMCG, energy and PSU-focused schemes also posted negative returns, reflecting pockets of weakness across specific market segments.
Kotak Mahindra Bank to acquire 10,639 crore loan portfolio from subsidiary KMIL
The transaction, expected to be completed in the second quarter of FY27, follows the banks decision to conduct KMILs business activities directly within the bank from April 1, 2026
Making travel more rewarding and accessible for customers this summer, BOBCARD is offering instant discounts, exclusive deals, and convenient EMI options that help travellers save more while enjoying seamless journeys. For example, BOBCARD users can get up to RS 8000 instant discount on domestic and international flights; claim up to 15% instant discount on flight and hotel bookings on MakeMyTrip.
The 8th Pay Commission is set to hold crucial meetings in Kolkata from July 9-10, 2026, extending the memorandum submission deadline to June 15. This body, tasked with reviewing salaries and pensions for central government employees, will also visit Srinagar and Ladakh in June. Its recommendations, due in 18 months, will consider economic factors and fiscal discipline.
The banking sector's net interest margin is expected to hold steady at 2.9% this fiscal, after declining 20 bps last fiscal, said Subha Sri Narayanan, Director, Crisil Ratings
Gold prices continued their downward trend on Saturday, May 30, 2026, with major Indian retailers reporting lower rates. This decline is attributed to softer global bullion prices and reduced safe-haven demand, leading to a modest correction in domestic gold rates across various karats.
These 5 midcap mutual funds deliver over 20% return in 3 years. Do you own any?
Five midcap mutual funds delivered strong long-term performance, generating over 20% annualised returns in the last three years, led by HSBC Midcap Fund, ICICI Prudential Midcap Fund and WhiteOak Capital Mid Cap Fund.
Mahindra Manulife Mutual Fund announces launch of its SIF platform MPOWER
Mahindra Manulife Mutual Fund introduces MPOWER SIF, a new investment product. This fund aims to provide investors with unique strategies beyond traditional mutual funds. It will utilize derivatives and other tools for varied risk-return outcomes. The fund house plans to offer diverse strategies across equity, hybrid, and fixed income categories.
Nearing retirement and invested mostly in FDs? Expert shares diversification roadmap
As retirement nears, investors question diversifying beyond fixed deposits into equities. Experts advise it's never too late to adjust strategies, emphasizing diversification balances capital preservation with inflation-beating growth potential. An ideal asset allocation depends on individual goals and risk tolerance.
Sukanya Samriddhi Yojana (SSY) offers a compelling investment avenue for girl children, currently providing an 8.2% annual interest rate. Parents can build significant corpus for their daughter's future by consistently investing up to Rs 1.5 lakh annually, with maturity proceeds and interest being tax-free under EEE status.
OpenAI has discussed adding Citigroup, JPMorgan to bank lineup for IPO
Citigroup and JPMorgan could join Goldman Sachs Group Inc. and Morgan Stanley on the preparations for the listing
IMF, World Bank, others warn West Asia war is straining energy supplies
The US-Israel war on Iran has disrupted trade, rattled financial markets and raised concerns over global energy supplies, particularly through the Strait of Hormuz, a key route for oil and gas shipments
Smallcap valuations turn favourable as correction creates fresh opportunities: Bajaj Finserv AMC
Smallcap stocks present a favorable entry point following a market correction, driven by improving fundamentals, healthier balance sheets, and corrected valuations. A disciplined approach focusing on strong businesses with long-term potential is advised, as smallcaps have historically outperformed during recovery phases.
Non-food bank credit growth jumps to 15.8% in April 2026; services, industry lead expansion: RBI
Credit to agriculture and allied activities registered a year-on-year growth of 13.7% as on the fortnight ended April 30, 2026, against 9.2% in the corresponding fortnight last year, the RBI said
227% return on SGB premature redemption date: Gold bond turns Rs 1 lakh investment into Rs 3.27 lakh
The Reserve Bank of India has announced the premature redemption price for Sovereign Gold Bond (SGB) 2021-22 Series-II, fixed at Rs 15,672 per unit. Investors can redeem these bonds from June 1, 2026, after five years from the issue date. This premature redemption price offers a significant return of 227% on the initial investment.
Legal heirs in England and Wales require a Grant of Probate or Letters of Administration to sell property and manage a deceased person's estate. While not always mandatory for jointly owned assets or to cover immediate funeral expenses, these grants are crucial for accessing bank accounts and proving legal authority.
Saturday bank holiday: Are banks open or closed on May 30, 2026, on fifth Saturday of May 2026?
Bank holiday today: Banks across India are open today, May 30, 2026, as it is the fifth Saturday of the month. Typically, banks observe holidays only on the second and fourth Saturdays, unless otherwise declared by the RBI. Customers planning branch visits should always verify the operational status with their bank.
Many taxpayers mistakenly believe the New Tax Regime offers no deductions. However, salaried employees and pensioners can claim a Rs 75,000 standard deduction. Employer contributions to NPS and interest on home loans for let-out properties are also still permissible, reducing overall tax liability.
IIFCLs equity dilution gets government nod
The company reports profit of 1,379 crore in FY26
RBIs regulatory agenda in FY27 to focus on customer protection, strengthening credit ecosystem
Supervisory agenda to focus on enhancing consistency in supervisory practices across regulated entities
Govt launches unified portal to trace unclaimed financial assets
Developed in collaboration with PSB Alliance, the portal aims to improve financial awareness, transparency and ease of access while helping individuals reconnect with their unclaimed assets
Bank credit to industry grows 15.1% in April, RBI data shows
Growth in non-food bank credit also accelerated to 15.8 per cent, driven by strong lending to infrastructure, metals, engineering, services and personal loan segments
The Latest Home Loan Interest Rates: May 29, 2026
The Latest Home Loan Interest Rates: May 29, 2026
The Market Expert Podcast | Inside the mind of a fund manager
Goal protection matters: Why Waiver of Premium deserves more attention
Financial plans often falter not due to lack of planning, but because they don't account for life's uncertainties. The Waiver of Premium feature in investment-linked insurance products ensures that contributions continue even if the policyholder passes away, safeguarding long-term financial goals like a child's education.
LIC launches New Jeevan Sathi Single Premium plan; check death cover, benefits and key features
Generali Central Life Insurance pegs FY26 bonus at 102 cr
The bonus declaration will benefitover 95,000 policies
Bank holidays June 2026: Full list of dates & closures
Bank branches will observe multiple closures in June, with the holiday schedule varying from state to state based on regional festivals and local observances.
Manoj Soman had not filed an ITR for the relevant assessment year, which is FY 10-11 in this case. Based on information available through the AIR mechanism and other departmental databases, the Income-tax Department noticed substantial cash deposits in the taxpayer's bank account. ITAT Mumbai, however, ruled in the assesses favour, saying TDS cannot be denied even if ITR is not filed.
INR use for imports and exports gains momentum, says RBI
RBI data showed strong growth in rupee-based import and export transactions during 2025-26, with import settlements rising sharply by over 41 per cent year-on-year.
Net FDI rebounds to $7.7 bn in FY26, but portfolio flows short for financing CAD: RBI
The central bank says the services sector accounted for a major share of FDI equity inflows during 2025-26, followed by manufacturing
Should senior citizens continue investing in equity mutual funds after retirement? Expert explains
A 60-year-old retiree sought guidance on whether she should continue investing in equity mutual funds after retirement. Experts say senior citizens can retain some equity exposure to beat inflation, provided regular expenses are covered through stable income sources. Aligning the portfolio, reducing overlap, and balancing SIPs with lumpsum investments remain key.
RBI balance sheet jumps 20.6% to 91.97 lakh crore in FY26
The RBI also reported a 6.7 per cent rise in overall surplus to Rs 2.86 lakh crore, while the value of its gold holdings surged due to rising gold prices and rupee depreciation against the US dollar
Financial institutions report over 10,000 cases of fraud involving 48,000 cr in FY26: RBI data
While the number of frauds was the highest under card/internet/digital payments category during 2023-24 and 2024-25, advances category accounted for the largest share in 2025-26
RBI plans expansion of digital rupee through welfare schemes, cross border payments
Separately, the RBI said its cloud platform for financial firms went live in beta mode with nine users, making such a move amongst the first among central banks
NFO Update: Groww Mutual Fund launches Groww Nifty Smallcap 250 Momentum Quality 100 ETF
Groww Mutual Fund has launched the Groww Nifty Smallcap 250 Momentum Quality 100 ETF, offering passive exposure to small-cap companies selected on momentum and quality factors. The ETF aims to provide diversified participation in Indias small-cap segment through a rules-based investment strategy focused on stronger price trends and relatively sound fundamentals.
Domestic bond yields could face upward pressure: RBI Annual Report
Report highlights G-sec hardening in FY26 but notes sufficient buffers in domestic financial system to handle risks
Bank time deposits, debt MFs act as complementary investment avenues: RBI report
This structural segmentation minimises direct competition between the two instruments, fostering concurrent allocation rather than substitution, per the analysis
Gold rate today: Gold prices are up today, May 29, 2026. Investors watch Middle East developments closely. The US-Iran truce extension remains uncertain. Jewellery brands like Tanishq and Malabar Gold & Diamonds show price increases. IBJA also reports higher rates for gold and silver. Consumers can check the latest retail prices.
HDFC Bank denies material impact of alleged 45 crore payment routing issue
Bank says internal controls are robust amid reports of disguising extra interest payments as marketing expenditure on deposits placed by a Maharashtra Government-owned entity
India insurers seek doubling of tax-free limit for some products to boost inflows, sources say
Indian life insurers are asking the government to double the tax-free limit for insurance policies. This move aims to increase money flowing into these funds. Inflows have slowed down since new tax limits were introduced in February 2023. Higher inflows would support government borrowing needs for long-term projects. The Life Insurance Council has formally requested this change.
Indias growth outlook for FY27 remains positive: RBI Annual Report
West Asia conflict and the attendant risks could pose headwinds to growth and inflation in the short run
