The Economic Times

Axis Bank will implement a new fee structure affecting its domestic and NRI savings accounts. The free cash transaction limit will reduce from four to three transactions or Rs 1 lakh. Minimum balance penalties will also change, particularly for semi-urban and rural accounts due to increased maximum charges. Additionally, the EDGE REWARD program will be discontinued for several account categories.

Maharashtra remained the largest contributor to mutual fund assets under management (AAUM) in September 2026, with Rs 33.10 lakh crore, followed by Delhi at Rs 7.78 lakh crore. Karnataka, Gujarat and West Bengal were among the other leading contributors.

Indias SIP flows reached a record 32,490 crore in September 2026, doubling in under three years. Investor participation expanded, smallcap and flexicap funds attracted strong inflows, and B30 cities gained mutual fund AUM share, reflecting broader market participation.

A 33-year-old investor aiming to build a Rs 6 crore corpus over 22 years may need to raise his annual SIP step-up from 10% to 1617%, according to an expert. The portfolio could also benefit from replacing the underperforming small-cap fund with a large-cap scheme, adding limited gold exposure and adopting a separate SIP strategy for the Rs 25 lakh property goal.

Central government employees must contribute to the Unified Pension Scheme during probation, yet contributions during suspension are optional. The government continues contributions during suspension only if the employee opts to contribute as well. Employees on absence without pay are exempt from making any contributions at that time. Delayed contributions may be restored if the delay is not the subscriber's fault.

Indias gold ETFs managed Rs 1.86 lakh crore across 26 schemes as of September 2026, despite a monthly return correction of 4.78%. The market remained concentrated, with five leading schemes controlling 80.2% of assets, while one-year returns stayed positive at approximately 2628%.

Tax on capital gains from gold investment: Investing in gold can yield gains, but investors must be informed about the associated tax liabilities. Different types of gold investments, including physical gold, ETFs, and FoFs, have varying tax implications. Gold held for less than 24 months generates short-term capital gains, while long-term gains apply to gold held longer. Sovereign Gold Bonds (SGBs) have specific tax exemptions if held until maturity, which investors should note.

Gold and Silver rate: Gold and silver indicative jewellery prices decreased today, but retail prices for 22k jewellery remained stable across various cities. The India Bullion and Jewellers Association provided updates on gold and silver rates for various purity levels.

ETMutualFunds shortlisted leading small-cap mutual funds using rolling returns, consistency, downside risk, outperformance and asset size. The list includes schemes from Axis, SBI, Kotak and Nippon India, with three-year rolling returns ranging from 24% to 33.5%. Small-cap funds are best suited to aggressive investors with a high risk appetite and a long investment horizon.

Diwali serves as an ideal occasion for investors to examine their mutual fund portfolios and enhance efficiency. It is crucial to identify underperforming schemes and ensure alignment with financial goals and risk appetite. Investors should assess if poor performance is due to market conditions or inherent issues with the fund. New fund offers should be evaluated for portfolio suitability before investment.

Compare SIPs, Sukanya Samriddhi Yojana (8.2%), PPF (7.1%), term insurance, health cover, gold ETFs and kids savings accounts, with a simple 5-step plan.

According to Sebi norms, medium to long term funds have a mandate to invest in debt and money market instruments in such a way that the Macaulay's duration of the portfolio is four to seven years. Since these schemes invest in long-term debt instruments, they are considered risky.

8th Pay Commisssion newsThe 8th Pay Commission held its final meetings in Mumbai, focusing on salary and pension reform for central government employees. Associations have proposed an annual increment rate of 5-7%, aimed at counteracting inflation and enhancing salaries. If implemented, these adjustments could lead to substantial pay raises over the coming decade, with definitive figures pending in the forthcoming report from the Pay Commission.

bank holiday today: Today, as the Karva Chauth festival is celebrated, banks in only one state are closed, contrasting with operations in other states. The October holiday schedule may impact banking operations, with regular Saturday hours on specified weekends.

The Allahabad High Court has delivered a landmark decision affirming that a husband's assertion of being unemployed does not absolve him of his duty to provide maintenance. By upholding the monthly payment directive, the court highlighted the importance of a spouse's financial capacity in relation to the needs of the wife.

Several mutual fund houses have temporarily stopped accepting fresh investments in gold fund-of-funds, impacting investors. These changes affect new lump-sum investments, SIP registrations, and switch-ins, leading to uncertainty. Gold fund-of-funds invest in Gold ETFs rather than physical gold, providing easier access for retail investors. For those unable to invest in gold fund-of-funds, Gold ETFs remain a viable option with no current restrictions.

As Indian business families navigate the intricate landscape of wealth transfers, they confront significant hurdles in succession planning. Establishing flexible frameworks for responsible wealth management across generations is imperative. Engaging younger members in conversations about values and governance fosters unity. Ultimately, preparing future heirs to effectively manage and amplify their inherited wealth is the primary objective.

Bank holidays in November 2026 will vary across Indian states based on local festivals. Customers must check specific holiday schedules before visiting bank branches to avoid inconvenience. Some notable holidays include Diwali, Wangala festival, and Chhath Puja, affecting different states. The Reserve Bank of India has outlined specific closure dates for scheduled banks. Both scheduled and non-scheduled banks observe holidays on specific Saturdays as per the RBI calendar.

With the festive season nearing, its the perfect time for many to buy gold jewellery. However, ensuring the golds purity is crucial before investing. Methods like looking for a BIS hallmark and a unique HUID number are essential. Home tests such as the ceramic streak test and vinegar test can lend extra credibility, but nothing beats professional testing for confirming gold purity.

DA hike news: In a significant update for central government employees, a 63% dearness allowance will be implemented for the period of July to December 2026. This marks a 3% rise in the current allowance, providing enhanced financial assistance. Level 1 employees can expect an increase of Rs 540 in their monthly salary.

Employees' Provident Fund accounts continue to earn interest for three years after the age of 58. After that period, accounts become inoperative unless members withdraw their accrued corpus.

Following Smt Shanti Devi's passing in 2001, her grandson Gahlot faced challenges from relatives contesting her will, asserting it was fraudulent and that Devi was incapable of drafting it. In court, Gahlot showcased his mother's testimonial to affirm the will's authenticity. The Delhi High Court ruled in favor of the will, granting Gahlot the right to her properties, though it left the ownership of the mentioned agricultural land unresolved.

The ET Wealth Expo 2026, scheduled for October 30 and 31 at NESCO in Mumbai, will spotlight vital discussions and exhibitions centered on the shifting financial priorities of India's wealthy investors and wealth creators. This gathering will delve into crucial topics such as risk management and succession planning, featuring insights from financial experts and business leaders. It's an essential platform for fostering collaboration in India's dynamic wealth landscape.

Delhi circle rate update: Farmers in the national capital are demanding a circle rate of Rs 10 crore per acre, with the Delhi Panchayat Sangh urging the government to implement this circle rate for agricultural land. Current estimates suggest that land rates in the capital region could zoom by around 650%, causing prices to go over Rs 15 crore per acre from Rs 2 crore now.

Gold rate today: Gold prices have risen today, October 28, 2026, across major jewellers like Tanishq and Malabar Gold. Prices for 22k gold jewellery are detailed, with differences noted between major retailers. The India Bullion and Jewellers Association published their latest retail selling rates for various purities of gold and silver. A comparison with the previous day's rates indicates a noticeable increase in prices across the board.

Planning a festive getaway doesn't have to break the bank! Discover essential tips to save on flights, accommodation, and more while enjoying your holiday. From setting fare alerts to strategically using credit card rewards, learn how to effectively budget for your dream vacation without compromising your financial stability. Start saving smart today for a stress-free festive travel experience!

Several equity mutual funds delivered returns of more than 20% over the past three years, led by SBI Healthcare Fund at 23.11%. Healthcare, small-cap, mid-cap and infrastructure schemes feature prominently among the top performers.

The Ministry of Finance announced a revision in the Industrial Dearness Allowance rates for certain CPSE employees. This revision will be applicable starting from October 1, 2026, affecting various pay scales. Employees in board-level and supervisory roles will see an increase in their IDA rates. Different IDA rates will apply for those under distinct pay scales from 1987 to 2017.

Mutual fund experts posit that aggressive debt investors might want to consider gilt funds as a way to obtain superior returns. As interest rates decline, the prospect of double-digit returns from these funds becomes more plausible. Nevertheless, gilt funds carry risks linked to interest rate fluctuations, making them appropriate only for savvy investors. Aiming for a long-term horizon is crucial, and monitoring rate shifts is highly advised.

The Reserve Bank of India has announced the premature redemption price for the Sovereign Gold Bond 2020-21 Series I, permitting investors to redeem on October 28, 2026. The chosen redemption price stands at Rs 14,159 per unit, showcasing a notable return on investment.

Since last Diwali, investors in eight equity mutual funds have enjoyed impressive double-digit gains from their Systematic Investment Plans. The standout performer has been Samco Small Cap Fund, boasting a remarkable return of around 30.85 percent. Other significant contributors include the Motilal Oswal Focused Fund and Bank of India Small Cap Fund. However, with 255 funds experiencing negative returns, market volatility remains key.

Punjab National Bank has issued a notice to its customers regarding the closure of dormant accounts. Any account with no transaction activity for over three years and a zero balance is at risk. To prevent account closure, customers need to complete their Know Your Customer requirements by November 10, 2026.

Six homeowners filed case against society's managing committee for misappropriating Rs 3.08 crore; society selectively increased these six homebuyers maintenance amount; Maharashtra co-op appellate court gives relief to these six homeowners

Silver prices have witnessed a sharp decline in the Multi Commodity Exchange, resulting in considerable losses for investors. Experts believe that a price recovery may occur within the next 12 to 18 months. New investors are advised to adopt a gradual buying strategy, while existing investors should hold steady and resist the urge to sell in haste.

Ms Parves counsel argued in ITAT Pune that she is a housewife and never filed her income tax return (ITR) as she had no independent source of income. To support her claims, Ms Parve also filed Form 26AS, an affidavit, the husbands death certificate, computation sheet, bank statements between 24.08.2015 and 30.09.2015.

Dealing with a tax demand? It's essential to grasp how the Income Tax Department can seize dues from different assets, while your PPF account holds particular protections. Funds within a PPF account are shielded from attachment; yet, withdrawing them can put them at risk.

The PFRDA has now pushed back the implementation date for updated PoP charges that impact NPS and NPS Lite subscribers to December 1, 2026. This extension provides extra time for subscribers to prepare.