The Economic Times

A Nagpur woman who lost Rs 6.93 lakh in a FedEx parcel scam won a consumer court case against ICICI Bank. The commission ordered the bank to refund the remaining amount with 9% interest and pay Rs 35,000 as compensation. Here's how she won the case.

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.

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.

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.

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.

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.

PGIM India Mutual Fund is implementing a temporary suspension of systematic investment plans (SIPs) and systematic transfer plans (STPs) for three of its international funds. This action will commence after the cut-off time on August 7, 2026. The fund house has attributed this suspension to adherence to the overseas investment limits set by regulatory authorities. However, current redemptions and withdrawal options will remain unaffected.

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.

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.

RBI MPC policy: The Reserve Bank of India plans to simplify loan interest rate rules for all regulated entities. This initiative aims to harmonize guidelines and address operational aspects of current lending rate benchmarks. The proposed changes will standardize market practices concerning interest charging and benchmark reset dates. These measures intend to improve transparency and strengthen monetary policy transmission across the system.

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 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.

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.

Housing society prevented homebuyers from using their stilt parking spaces given by builder as it was given after registration of society; Maharashtra Co-Op appellate court in RWA's favour and says builders allot common stilt parking after society is registered

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.

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.

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.

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.

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.

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

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.

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.

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.

Gold prices experienced a slight dip across major brands today. Tanishq and other leading jewelers reported lower rates for 22k gold. Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas also followed this trend.Consumers can compare rates from various brands for potential purchases.

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.

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.

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 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.

Bandhan Small Cap Fund leads three-year returns with 25.35 percent gains. Stock selection drove this outperformance, according to expert analysis. The fund has consistently beaten its category average over time. Investors should consider risk and long-term strategy for investment decisions. Current market conditions offer a good entry point for patient investors.

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.

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.

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.