The Economic Times

A new Income-tax Act arrives on April 1, 2026. It brings fresh income tax forms and replaces many old ones. Taxpayers will use these new forms for various reporting needs. Key changes include updated PAN application forms and new TDS certificates. This marks a significant shift in tax compliance procedures for individuals and businesses.

Arun received Rs 20,000 compensation for a new bike with multiple defects. The vehicle developed issues with its meter, engine overheating, and fuel tank within two years of purchase. Despite multiple services, the problems persisted. The Thrissur district consumer commission ruled in Arun's favor, ordering the dealer to pay compensation and costs for the deficiency in service.

A 10,000 instant personal loan may look small on paper, but that doesnt mean you should choose a lender casually.

Augmont Enterprises has quietly established India's most comprehensive gold platform. Unlike well-funded rivals that faltered, Augmont focused on building infrastructure and integrating its operations. This Mumbai-based company's sustainable approach contrasts with the 'growth-at-all-costs' model. As Augmont prepares to go public, its success highlights a different path to building a durable business in India's gold market.

Federal Bank now allows customers to pay Employee Provident Fund dues through its net-banking platform. This new facility offers a convenient and secure way to make EPFO payments. Individuals and businesses can now settle their EPF dues quickly online, saving time and effort. The service enhances digital convenience and supports organizations in meeting their statutory compliance needs.

NRIs managing finances abroad often face OTP issues with their Indian mobile numbers. While banks are increasingly supporting international numbers and app-based authentication, maintaining an active Indian SIM remains crucial for many transactions. Read the article to know how NRIs can keep their Indian mobile number active, handle OTP issues overseas and avoid common banking access problems

HDFC Bank has adjusted its lending rates. Effective May 7, 2026, some loan tenures will see a reduction of up to 5 basis points. However, one tenure will experience a 5 basis point increase. These changes impact borrowers with loans linked to the MCLR regime. The bank's MCLR rates now range from 8.05% to 8.60%.

IDFC FIRST Bank's FIRST EARN and Hello Cashback credit cards offer straightforward cashback on daily transactions, maximizing savings without altering spending habits. These cards provide an interest-free period and fee reversals on spending, enhancing value beyond just cashback with added protection benefits.

Maharashtra's Revised NPS scheme offers assured pensions for state employees joining by December 2026. Those with 20 years' service get 50% of last salary, while a minimum Rs 7,500 monthly pension is guaranteed for 10 years.

Motilal Oswal Mutual Fund has launched the Motilal Oswal Contra Fund, an open-ended equity scheme based on a contrarian investment strategy. The NFO opens on May 8 and closes on May 22. The fund aims for long-term capital appreciation by investing in undervalued companies with turnaround potential across market cycles.

Gold and silver prices surged on Thursday, May 7, 2026, driven by easing global inflation concerns and positive diplomatic signals between the US and Iran. This de-escalation prospect led to a significant rally in both precious metals, with gold and silver rising 3% and 6% respectively.

The All India Defence Employees Federation (AIDEF) has submitted a memorandum to the 8th Pay Commission, demanding a Rs 69,000 minimum pay and a 3.833 fitment factor for defence civilian employees. The federation also seeks higher risk and hardship allowances, along with revised cadre structures and pay scales for various technical and clerical positions.

Kotak International has launched its first UCITS ETF focused on the Indo-Pacific defence sector, offering exposure to rising military spending across key Asian markets. Developed with HANetf, the fund includes nearly 30% allocation to Indian companies, aligning with Kotaks strategy to expand global, theme-based investment offerings.

An investor investing Rs 85,000 monthly may not reach Rs 2 crore in seven years. Experts suggest increasing monthly SIPs by Rs 68,000 to Rs 1.53 lakh. The portfolio strategy needs adjustment as the goal nears. Reducing exposure to volatile small and midcap funds is advised. Shifting to largecap or index funds will stabilize returns and protect the corpus.

Telangana's Registration and Stamp department is set to significantly increase property registration values, with hikes ranging from 20% to 100% across the state. This move aims to bridge the substantial gap between government valuations and current market rates, particularly in high-growth western Hyderabad areas. The revision is expected to boost government revenue from property registrations.

The 8th Central Pay Commission will meet with Defence and Railway employee and pensioner bodies in New Delhi on May 13 and 14, 2026. Stakeholders must request appointments online by May 10, 2026. The Commission will also visit Hyderabad, Srinagar, Jammu, and Ladakh in May and June 2026. Railway technical employees are demanding a minimum basic salary of Rs 52,600.

ICRA Analytics said investors should blend active and passive mutual fund strategies to navigate volatile markets driven by geopolitical tensions and global uncertainty. The report highlighted that balanced portfolio allocation based on risk appetite, goals and investment horizon can help investors stay resilient through market cycles while pursuing long-term wealth creation.

Motilal Oswal Asset Management Company has received PFRDA approval to operate as a Pension Fund Sponsor under the National Pension System. The company will establish a separate pension fund entity to manage NPS assets and retirement investments, aiming to strengthen its presence in Indias long-term retirement planning and pension management ecosystem.

Top largecap mutual funds were shortlisted using rolling returns, consistency, downside risk, outperformance, and asset size, with select schemes delivering around 1516% returns over the last five years.

The BSE Sensex has seen a significant drop this year. Experts recommend investors continue their Systematic Investment Plans. This strategy allows for acquiring more mutual fund units at lower prices. For those with extra funds, staggered lump sum investments are also suggested. Market corrections are viewed as normal and beneficial for long-term wealth creation.

A UPSRTC bus conductor lost his government job after ferrying 59 passengers without issuing tickets. The Allahabad High Court upheld the termination, citing dishonesty and financial loss to the government. The conductor had filled paybills but failed to distribute tickets. The court found no reason to interfere with the disciplinary action.

Fairfax India is set to increase its ownership in IIFL Capital to 51 percent. This move involves an investment of 20 billion rupees. The capital infusion will bolster IIFL Capital's financial standing. It will also support the company's expansion across various financial services. This strategic investment comes amid a competitive market landscape for brokerages and wealth managers.

Frequent travelers can enhance their journeys with the right credit cards. Cards like Federal Bank Scapia and Ixigo AU offer lounge access and rewards. Some provide zero forex markup on international spending. These cards aim to reduce expenses and improve travel experiences for regular flyers. Explore options for better travel.

The NC-JCM will hold its 49th annual meeting on May 11, 2026, to discuss key issues impacting central government employees and pensioners. Major proposals include enhanced pension benefits, higher family pension, expanded medical facilities, and full reimbursement of treatment costs. It will also raise concerns over regional recruitment, promotion delays, and career stagnation, among other issues.

A divorced daughter, deserted by her husband, can claim her late father's family pension if dependency existed during his lifetime, even if divorce was finalized later. The Calcutta High Court ruled that a government memo allows this, emphasizing the beneficial object of pension rules. Dependency and marital breakdown prior to the father's death are key.

Buying a home in Indian metros is an emotional decision, but financial realities are shifting. Renting and investing the difference between rent and EMI can build substantial wealth over two decades. Equities offer higher long-term returns than property appreciation. The choice hinges on prioritizing financial optimization or personal stability.

PFRDA has launched NPS Sanchay, a simplified National Pension System variant, to serve India's informal sector employees. This scheme aims to reduce investment complexities and asset allocation challenges for nearly 90% of the workforce lacking formal pension coverage. Eligibility extends to Indian citizens aged 18-85, with rules aligning to existing NPS schemes.

Gold prices surged on May 6, 2026, driven by escalating Middle East tensions and amplified inflation concerns. Major jewelry brands and IBJA reported noticeable uptrends in 22k gold rates, reflecting firm global cues. This rise follows a day of pressure on gold prices due to geopolitical events.

The Bonus Points earned during the Points Fest can significantly enhance members ability to redeem rewards across Air Indias expanding domestic and international network. 2,00,000 Maharaja Points can get members, for example, up to 5 one-way Economy Class tickets between Mumbai and London Heathrow or up to 20 round-trips on prime domestic routes like the Delhi-Mumbai route.

Groww Mutual Fund has launched the Groww Nifty Private Bank ETF, a passive scheme tracking the Nifty Private Bank Index TRI. The NFO is open until May 20. The fund offers exposure to private banking stocks with a low-cost, rules-based approach, aiming to minimise tracking error and deliver benchmark-aligned returns.

Quantum AI scam: A viral message falsely claims Finance Minister Nirmala Sitharaman is promoting a 'Quantum AI' investment scheme. It promises huge returns on small investments with zero risk and government guarantee.

Around 11 equity mutual funds with NAVs above Rs 1,000 have delivered strong long-term returns, with CAGRs reaching up to 24%. Most of these funds have been in the market for over two decades, highlighting the role of time and compounding in wealth creation across categories like mid cap and flexi cap.

8th Pay Commission: Maharashtra Old Pension Organization representatives met with the 8th Pay Commission in Pune, advocating for a Rs 65,000 minimum basic pay and a 3.8 fitment factor for central government employees. Key demands included a 4% minimum DA increase, revised HRA and TA, faster career progression, and pension reforms for UPS subscribers.

Maharashtra is launching 60 new model property sub-registrar offices. These centers, managed by VFS Global, aim to speed up property registrations. Buyers can choose these modern facilities or continue using existing offices. The government will maintain strict control over these new centers. This initiative seeks to improve citizen experience and reduce waiting times.

Loans against mutual funds offer liquidity without redeeming investments, but require careful handling. Investors often overlook loan terms, valuation risks and repayment discipline. Comparing lenders and avoiding unnecessary borrowing are key to preventing financial strain while using mutual funds as collateral for short-term funding needs.

Bengaluru apartment owners secured a major win as the Karnataka High Court ordered a builder to demolish illegal construction. The construction encroached on the setback area of Rajsri Apartments in Rajarajeshwari Nagar. The court ruled that the revised plan lacked a crucial Fire Department NOC. This decision prioritizes public safety and emergency access over builder's interests.

A 30-year-old investor aiming for Rs 7 crore in 15 years faces a shortfall despite a Rs 10,000 monthly SIP with a 27% annual step-up. Expert Vishal Dhawan suggests consolidating mid-cap and small-cap funds to reduce overlap, retaining Parag Parikh Flexi Cap Fund as core. Increasing contributions is key to bridging the Rs 2.2-2.5 crore gap.

A wife earning Rs 1.5 lakh monthly sought higher maintenance from her husband. The Karnataka High Court denied her plea. The court noted her substantial income and the husband's limited assets, including a mortgaged one-acre land. His potential share in ancestral property was deemed insufficient grounds for enhancement. The court upheld the original maintenance order.

Here are some of the top-performing mutual funds for May 2026, based on recent performance, consistency, and category leadership across large-cap, flexi-cap, midcap, and thematic segments: