The Economic Times

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.

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.

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 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.

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.

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.

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.

Greater Bengaluru Authority now allows electricity connections without an Occupancy Certificate for homes on plots up to 2,400 sq. ft. This special one-time relief helps many homeowners, especially those on unapproved layouts. It can reduce electricity bills by enabling domestic residential power connections.

For parents of children with special needs, a special needs trust offers a vital long-term plan for their child's care and financial security after they are gone. This trust ensures funds are managed by trustees for medical treatment, housing, education, and daily expenses, providing a structured support system beyond simple wealth transfer.

A 74-year-old investor with Rs 4 lakh in equity mutual funds seeks advice on future income generation through Systematic Withdrawal Plans. An expert suggests gradually adding hybrid funds to reduce market volatility. The withdrawal amount will depend on investment duration, accumulated gains, income needs, and overall financial situation. Historical data suggests 5-6% annual withdrawals are sustainable over 10-15 years.

The RBI has announced the premature redemption price for Sovereign Gold Bond (SGB) 2019-20 Series-VII, set at Rs 15,275 per unit. Investors can redeem these bonds from June 10, 2026, after the fifth year of issuance. This offers a significant return of approximately 308% on the initial investment.22k gold rate today: Check 24k, 22k, 18k gold prices (June 10, 2026) at Tanishq, Joyalukkas, Kalyan Jewellers, Malabar Gold & Diamonds and IBJAhttps://economictimes.indiatimes.com/wealth/invest/22k-gold

Nuvama Wealth Management has received final Sebi approval to enter the mutual fund business through Nuvama Asset Management. The company plans to initially launch products under the Specialized Investment Fund (SIF) framework before expanding its mutual fund offerings, leveraging its wealth management expertise and extensive client base.

A home loan EMI calculator is an invaluable tool for financial planning, allowing users to estimate monthly repayments, total interest, and repayment schedules by inputting loan amount, interest rate, and tenure. It aids in comparing loan options, optimizing tenure, planning prepayments, and potentially saving significant interest costs.

Five equity mutual funds delivered strong SIP returns over 10 years, with top schemes nearing 24% annualised gains. Small-cap funds led performance, but experts advise aligning investments with risk profile and long-term goals.

A man in Puducherry received Rs 10,000 in compensation and Rs 3,000 for legal expenses after finding a dead insect in his biriyani. The consumer commission also ordered the restaurant to provide him with 10 free plates of biriyani over five Sundays.

Employees' Provident Fund contributions offer a life insurance cover of up to Rs 7 lakh through the EDLI scheme, at no extra premium. This government-backed benefit protects families in case of an EPF member's death during service. Eligibility requires active EPF membership and employer contributions. Claims are processed by EPFO, with updated nominations expediting the procedure.

May SIP Data: The monthly inflows remained above the Rs 30,000 crore mark for the third consecutive month. On yearly basis, the SIP inflows went up 16% from Rs 26,688 crore in May 2025. Overall, equity mutual fund inflows declined 40% month-on-month to Rs 22,907 crore in May from Rs 38,440 crore in April. However, on a year-on-year basis, inflows rose 20% from Rs 19,013 crore recorded in May 2025.

Among the 11 sub-categories, flexi cap funds remained investors favourite, attracting the highest inflow of Rs 5,175 crore in May, compared with a record-high inflow of Rs 10,147 crore in April.

Flexi cap mutual funds provide a flexible investment avenue for investors navigating market volatility. Fund managers can strategically allocate assets across large, mid, and small-cap stocks based on market outlook. This approach is ideal for moderate investors aiming for wealth creation over a five to seven-year horizon.

Central government employee and pensioner bodies are actively engaging with 8th Pay Commission officials regarding salary and allowance demands. Discussions are ongoing, with a memorandum submission deadline of June 15, 2026. Employees anticipate potential salary hikes and arrears, with estimates suggesting 20-21 months of arrears if implementation occurs in late 2027.

A son's plea for a compassionate job after his government employee father went missing for over seven years was rejected by the Telangana High Court. The court cited a rule stipulating that employees with less than seven years of service remaining at the time of disappearance are ineligible for such appointments, regardless of the presumption of death.

With Nifty 50 valuations at long-term averages, wealth managers suggest allocating to large-cap stocks. These companies offer stability and earnings visibility, making them a safer bet amid global uncertainty. Investors can consider a mix of active and passive large-cap funds for their core portfolio.

Jio BlackRock is set to launch its first Indian ETFs by August, aiming to mirror BlackRock's global success in passive investing. The joint venture, already managing $1.9 billion in assets, plans to initially focus on equity strategies. This move seeks to tap into India's growing, albeit nascent, ETF market, with plans for GIFT City products also underway.

Despite the RBI maintaining the repo rate at 5.25%, major banks like SBI, HDFC, ICICI, PNB, and Bank of Baroda are offering competitive fixed deposit interest rates. These attractive rates, particularly for senior citizens, vary across different tenures, with some reaching up to 7.1%.

Tenants paying over Rs 50,000 monthly rent must deduct TDS. This applies to individuals and HUFs not requiring tax audits. The TDS rate is 2% on gross rent. Tax is deducted in the last month of tenancy or financial year. Tenants deposit TDS via Form 26QC and issue Form 16C to landlords. Failure to comply incurs interest and penalties.

Retirement planning should focus on generating sustainable income while ensuring the corpus lasts throughout life. Key factors include accounting for inflation, healthcare costs, liabilities, and lifestyle needs. Maintaining a balanced asset mix with some equity exposure for growth and gradually increasing debt allocation with age can provide liquidity and stability.

SpaceXs planned IPO and potential inclusion in the Nasdaq-100 have renewed investor interest in Indian mutual funds tracking the benchmark. Such funds could gain indirect exposure to the aerospace giant, although fresh investments in several schemes remain restricted due to overseas investment limits.

Gold prices saw a rise on Tuesday, June 9, 2026. Major jewellery brands like Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas reported higher rates. The India Bullion and Jewellers Association also noted an increase. Investors are closely watching developments in the Middle East for further market cues.

Nippon India Value Fund has turned a Rs 10,000 monthly SIP into Rs 1.56 crore over 21 years, according to an ETMutualFunds analysis. Launched in June 2005, the fund holds a four-star rating from Value Research and Morningstar. A Rs 10,000 SIP started 10 years ago would now be worth Rs 27.06 lakh, while similar investments over five and three years would have grown to Rs 8.19 lakh and Rs 3.90 lakh, respectively.

ET Wealth Reader's Query: I recently found several bonds and share certificates in physical form belonging to my late father. How can I get them dematerialised and transferred to the legal heirs?

Several flexicap funds have significantly increased their small-cap exposure over the past three years, reflecting confidence in smaller companies. Navi, Samco, and ICICI Prudential led the shift, seeking growth opportunities in niche businesses.

Tata Mutual Fund has temporarily restricted fresh subscriptions in its Tata Gold ETF and Tata Gold ETF Fund of Fund, citing prevailing market and economic conditions. While large direct investments and certain lump-sum inflows face limits, SIPs, SWPs, redemptions and switch-outs will continue without any restrictions.

Retired railway employees are urging the 8th Pay Commission to implement one rank one pension. They also demand a revision of basic pay and increments to combat inflation. The association seeks improved allowances, welfare benefits, and retirement provisions.

Axis Mutual Fund has revised exit load structures across its equity schemes, removing charges for large-cap, flexicap and large & midcap funds while shortening the holding period for the midcap fund. The changes apply from June 15 and will cover all fresh investments, including SIPs, STPs and switches under the schemes.

BlackRock has launched the iShares Space Technologies UCITS ETF (STAR) for European investors, featuring a unique IPO fast-entry mechanism. This allows newly listed space companies to be added to the index within 10 to 30 days, rather than waiting for scheduled rebalances. The move follows a surge in investor interest in space ETFs.

Former Indian cricketer Ajit Agarkar has sold his residential property in Bandra West, Mumbai, for Rs 4 crore. The property, located in the Jewel Co-op Housing Society, spans 1,229 sq. ft. and includes two car parking spaces. The transaction was registered in April 2026, with Agarkar paying Rs 24 lakh in stamp duty.

Aggressive investors planning SIPs in June can consider a mix of flexi-cap, large-cap, mid-cap, small-cap and hybrid funds across investment baskets, based on ETMutualFunds' model portfolios designed using performance, consistency and risk-adjusted return metrics.

The Allahabad High Court has ruled that a qualified wife, capable of earning but choosing not to work solely to burden her husband, can be denied maintenance. In a case involving a Gynaecologist, the court upheld the denial of interim maintenance, citing her ability to earn over Rs 31 lakh annually, as per her income tax returns.

Binance is democratizing pre-IPO price discovery with its new Pre-IPO Perpetual Contracts. These products allow eligible users to speculate on the expected valuations of private companies like SpaceX and OpenAI before their public listings, bridging the gap between institutional and retail investors.

Retirees face a new challenge: managing wealth after decades of building it. Experts advise simplifying complex portfolios, especially those with many stocks. The focus moves to generating income and ensuring long-term financial security through strategic adjustments to investments and withdrawal plans.