The Economic Times

ET Wealth Reader's Query: Im a Hindu and need legal advice on drafting my will. I own two ancestral properties inherited from my grandmother and mother. I want my wife to be the sole and absolute owner of these after my death, with no claim from my sons or their legal heirs.

The Supreme Court granted relief to a husband from a 498A case filed by his wife. The court ruled that the husband's financial dominance, including asking his wife to maintain an expense spreadsheet and transfer her salary, did not constitute cruelty. Allegations were deemed vague and lacking specific evidence, leading to the quashing of the criminal proceedings.

The Senior Citizen Savings Scheme (SCSS) offers a competitive 8.2% fixed interest rate, matching the Sukanya Samriddhi Account. This rate, applicable for the January-March 2026 quarter, remains unchanged from the previous period. SCSS provides a higher return than most bank FDs, though it has a deposit limit of Rs 30 lakh.

Salaried individuals can now make their income tax-free in the new tax regime. This is possible by utilising employer contributions to Employees' Provident Fund and National Pension System. Even with a nearly Rs 14.66 lakh salary, tax liability can be zero. This strategy helps build a substantial retirement corpus.

Radhika Gupta, MD & CEO of Edelweiss Mutual Fund, said the true inheritance from previous generations lies in the values they instilledhard work, responsibility, family respect, and financial prudencerather than material assets like gold or property. She emphasized that these principles guide life and financial choices across generations.

The Wealth Company Mutual Fund has launched a Gold ETF Fund of Fund, offering investors a cost-efficient and transparent way to gain gold exposure without physical ownership. The NFO is open until January 23, 2026, with low minimum investment and SIP options.

HDFC Bank is transitioning its debit card lounge access to a voucher-based system from January 10, 2026. Customers meeting a Rs 10,000 quarterly spend will receive a digital voucher via SMS or email, replacing the previous card swipe method. This new process requires claiming a voucher code to gain entry to airport lounges.

Motilal Oswal Mutual Fund has discontinued subscriptions in its Nifty Microcap 250 Index Fund following consultations with SEBI, citing the absence of a defined microcap category. The move impacts fresh investments, SIPs, and STPs, while existing terms remain unchanged.

Quant Small Cap Fund made selective portfolio changes in December, adding Adani Green Energy and exiting LIC completely. The fund increased exposure to select stocks while maintaining a defensive stance, focusing on liquidity and calibrated smallcap exposure amid market volatility.

Eight mutual fund NFOs and one SIF are currently open for subscription across categories such as small cap, duration, sectoral, thematic and FoFs. Here is a list of the latest launches with closing dates and key details.

Gold Exchange Traded Funds saw unprecedented inflows in December, reaching an all-time high. This surge has prompted market experts to recommend investors rebalance their portfolios. They advise aligning gold ETF holdings with individual asset allocation targets. For new investors, a gradual entry through systematic plans is suggested.

Wealthy individuals are increasingly investing in complex private credit and structured strategies. These investments carry inherent risks due to limited liquidity and infrequent price visibility.

SBI ATM fee: State Bank of India has revised its ATM transaction charges, effective December 1, 2025, due to an increase in interchange fees. Savings and salary account holders using other banks' ATMs will see higher charges for cash withdrawals and non-financial transactions after the free limit. SBI debit card holders using SBI ATMs and BSBD account holders remain unaffected.

Mutual fund SIP contributions hit a record Rs 30,002 crore in December, even as the SIP stoppage ratio climbed to 85%. AMFI data shows strong long-term investor participation, rising SIP AUM and expanding folio count despite market volatility.

In December, mutual fund investors took a gold and silver plunge, ramping up their stakes in precious metal funds. Meanwhile, equity and fixed-income investments cooled off, indicating a cautious approach in the market. Additionally, multi-asset allocation funds attracted more capital, underscoring a trend towards safer investment choices as investors hedge against uncertainty.

Mutual fund inflows into large-, mid- and small-cap schemes declined in December despite limited market weakness. Experts attribute the slowdown to elevated valuations, volatility and profit booking, signalling a more cautious and selective investor approach across equity fund categories.

A UK resident successfully challenged a Rs 10,000 tax penalty imposed for not responding to a notice. The Income Tax Appellate Tribunal (ITAT) Delhi ruled that the penalty was invalid as there was no proof the notice was actually served on the taxpayer. This decision highlights the importance of proper notice delivery for tax proceedings.

Bank holiday today: Bank customers should plan their work in advance. Banks observe holidays on the second and fourth Saturdays of each month. January 2026 features several state-specific holidays. Republic Day is a national holiday.

Many women beneficiaries of the Mukhyamantri Majhi Ladki Bahin scheme have completed their e-KYC but are yet to receive their December installment. With January 2026 underway, beneficiaries are also waiting for the current month's payment. The government has not announced the disbursal date, causing confusion among recipients.

December saw 23 open-ended mutual fund NFOs raise Rs 4,074 crore, led by Abakkus Flexi Caps Rs 2,468 crore haul, while sectoral, arbitrage, small-cap, index, ETF, liquid and gold funds drew modest investor interest amid selective risk appetite in December.

Senior citizens can manage their Fixed Deposit interest income effectively. Banks deduct Tax Deducted at Source (TDS) on interest exceeding certain limits. However, strategic investment planning across multiple banks can prevent TDS. Additionally, eligible senior citizens can submit Form 15H to avoid TDS if their total tax payable is nil. This allows for better management of retirement income.

Mutual funds saw strong investor interest in 2025. Open-ended funds attracted over Rs 7.9 lakh crore. Equity schemes were popular, with flexicap funds leading inflows. Debt and hybrid funds also saw significant investments. Passive funds, including ETFs and index funds, garnered substantial inflows. The total assets under management for open-ended schemes grew by 20%.

PM Kisan beneficiaries can expect the 22nd instalment between March and April 2026. Each payment will be Rs 2,000. Completing eKYC is crucial to receive funds directly into Aadhaar-seeded bank accounts. Farmers can use OTP, biometrics, or face authentication for eKYC.

Auto stocks are outperforming the broader market in FY26, with the BSE Auto index up 32%. SML Mahindra and Force Motors have emerged as multibaggers, while strong demand and earnings visibility continue to support sector-wide momentum.

ICICI Bank is updating its credit card offerings. New rules for rewards, benefits, and fees will take effect on January 15, 2026. Cardholders should review changes to reward points, BookMyShow benefits, and various transaction fees. These revisions will affect spending habits and how cardholders earn rewards. Specific changes apply to cards like Emeralde Metal and Times Black.

Japan's Nikkei share average closed higher on Friday. Fast Retailing's strong earnings fueled the rise. Automakers also saw gains due to a weaker yen and relief over China's export policy. The Nikkei climbed significantly for the week. Investors are now focused on US jobs data and its impact on monetary policy. Yaskawa Electric's results are also anticipated.

Why is the stock market falling? Indian equities extended losses for a fifth straight session, as global trade tensions and uncertainty over U.S. tariffs kept investors cautious. Markets are focused on the U.S. Supreme Court verdict on Trumps tariffs, which could have a major impact on IndiaU.S. trade relations and domestic market sentiment.

Delhi High Court raps Income Tax Dept over 8-year delay, in tax refund and thus orders Rs 5.37 crore tax refund with interest to Microsoft India; warns Rs 1 lakh personal cost on on Deputy Commissioner if deadline missed. Read below to what else Delhi High Court said to Income Tax Department.

Policymakers rolled out a series of reforms to address long-standing pain points for EPF and NPS subscribers, such as rigid withdrawal rules, paperwork-heavy processes, and limited flexibility in managing retirement savings.

Parag Parikh Flexi Cap Fund boosted its holdings in ITC and ten other stocks during December, notably adding significant stakes in Power Grid Corporation and HDFC Bank. The fund also introduced The Great Eastern Shipping Company to its portfolio. Meanwhile, exposure to Infosys was reduced, with no complete exits reported.

The Delhi High Court has backed a Labour Court's decision regarding a terminated employee. The company must either reinstate the worker with back pay or provide a Rs 3 lakh compensation. The court found the termination illegal due to the company's failure to follow mandatory procedures and produce crucial employment records.

Mutual fund SIP inflows reached a record high of over Rs 31,000 crore in December. This marks a significant increase, showing disciplined investor participation. Investors are using market dips to increase investments. The trend indicates a growing financialization of savings in India. More investors are expected to join mutual funds, driving SIP numbers higher.

A homebuyer who opted to continue with a delayed housing project in Chandigarh will only receive RERA-mandated interest compensation for the delay. Punjab RERA ruled that additional compensation for rent, legal fees, or mental distress is not permissible if the allottee chooses to stay with the project instead of withdrawing.

Equity mutual fund inflows dipped 6% to Rs 28,054 crore in December, marking a 32% year-on-year decline. Despite this, flexi-cap funds achieved a record high of Rs 10,019 crore in inflows, leading the pack among the 11 sub-categories. Overall, 2025 saw Rs 3.03 lakh crore invested in equity mutual funds.

Axis Large Cap Fund has turned a Rs 10,000 monthly SIP into Rs 58.71 lakh over 16 years, ETMutualFunds analysis shows. Despite periods of underperformance, the large-cap scheme has delivered steady long-term returns. Experts say its quality-focused approach and stability make it a suitable option in todays volatile markets.

Tax saving mutual funds or ELSSs invest in stocks. Therefore, they have a very high risk. You should be aware of this aspect, especially if you are a first-time investor in equity mutual funds. Compared to your usual investments like Public Provident Fund or National Savings Certificate, etc,

Gold and silver prices saw record highs in 2025. Global factors like central bank buying and geopolitical risks drove these surges. Indian demand remained steady but did not lead the price increases. High prices are now influencing consumer buying patterns. Investors are watching for potential portfolio rebalancing impacts in the new year.

The Delhi High Court ruled that a wife, despite concealing her dual MBA income, is entitled to maintenance for accommodation under the Domestic Violence Act. The court acknowledged her suppressed income but prioritized her right to secure a safe residence for herself and their child, modifying the interim maintenance order.

Can you still exchange Rs 2000 notes in 2026? With 98% already returned, here's what you need to know before your options disappear.

This online platform now offers same-day international money transfers for overseas education payments, a significant improvement over previous multi-day processes. This aims to alleviate stress for students and parents facing strict university fee deadlines. Cashback offers are also available on eligible education transfers.