The Economic Times

Axis Bank credit card revised rules: Axis Bank is set to update its credit card policies on August 28, 2026. Notably, the markup for dynamic currency conversion will jump to 3.5% from the previous rate of 1.5%. Furthermore, late payment fees for balances over Rs 50,000 will also go up. The bank also clarified that gift card purchases will alsonot contribute towards spends-based fee waiver calculations or milestonebenefits.

Based on ground intelligence and analysis of data, Income tax dept Income tax dept has identified suspicious entities who sent money abroad; Know what to do

Invesco Mutual Fund has launched a new open-ended equity scheme. This fund will invest in India's evolving pharma and healthcare sectors. It aims to capitalize on favorable demographics and expanding healthcare access. The new fund offer is open for subscription until September 1. Investors can start with a minimum lump sum of Rs 1,000.

Gold and silver ETFs saw sharp AUM growth over the past year, with gold ETF assets rising 2.6 times and silver ETF assets 3.4 times by July 2026. Commodity funds also increased their share of passive assets, reflecting stronger investor interest.

Defence stocks surged up to 10% after the Defence Ministry unveiled its sixth Positive Indigenisation List covering 405 items with Rs 3,070 crore business potential. The move aims to boost domestic manufacturing, innovation and investment while reducing Indias dependence on defence imports.

Capitalmind founder Deepak Shenoy said the primary purpose of SIPs is not to average out market volatility, but to align investments with peoples monthly income cycle. He argued that investors typically earn, save and invest each month, making monthly SIPs a natural way to build wealth, while price averaging is merely a by-product.

Succession planning involves connected legal and tax events, not just death. Income earned before death must be reported by the deceased's representative. Income arising after death is taxable to the executor or administrator. Individual and HUF property tax treatments differ significantly based on acquisition. Proper record-keeping is essential for calculating capital gains and tax liabilities.

Leakage in concealed plumbing lines of 1st floor bathroom led to ground floor residents facing water leakage; Maharashtra court rules housing society cannot be held responsible for leakage or repairs inside individual units

SBI paid Rs 40.62 lakh rent to three landlords but erroneously reported entire TDS against one landlord's PAN, leading to tax dept denying Rs 2.7 lakh TDS credit as landlord only declared 1/3rd rent in ITR; Landlord fights in ITAT Agra and wins case; Know why

July was a busy month for HDFC Mutual Fund, which ramped up its investments by increasing its stakes in about 422 stocks. Simultaneously, the fund reduced its involvement in 164 stocks, affecting numerous prominent companies. They integrated five new stocks and fully exited from J.B. Chemicals and Nilkamal. HDFC Mutual Fund now manages a total of around 703 stocks, heavily weighted towards financial services.

SIF strategies attracted Rs 4,922 crore in inflows in July, up from Rs 3,782 crore in June. Since October 2024, the category has received Rs 22,328 crore, according to ValueMetrics.

ET Wealth Reader's Query: I own a two-bedroom flat in Bengaluru, which is about 10 years old, and have no outstanding loan. I am a senior citizen with pension income and live with my son. Should I retain the property and earn rental income, or sell it and invest the proceeds in fixed deposits for a steady interest? Currently, my annual income is below Rs 12 lakh, so I am not liable to pay any tax.

BSE shares extended their losing streak after Nuvama downgraded the stock to Hold and cut its target price, citing three key concerns: the impact of CAS on trading volumes, tighter bank guarantee norms and limited scope for further market-share gains. Jefferies also recently downgraded the stock, adding to pressure on its earnings outlook.

Today gold rate: On August 18, 2026, gold prices showed a slight uptick at leading jewellery retailers. While Tanishq kept its gold prices unchanged, competitors like Malabar Gold & Diamonds, Joyalukkas, and Kalyan Jewellers raised their 22k gold rates. Notably, the India Bullion and Jewellers Association reported minor fluctuations in gold and silver rates, showcasing ongoing trends in the precious metals market.

In July, the HDFC Defence Fund made significant moves by adding Cochin Shipyard and INDO-MIM to its portfolio. The fund also augmented its investments in Hindustan Aeronautics and Mazagon Dock Shipbuilders, while expanding its holdings in five additional defence sector stocks. However, it opted to reduce its stakes in three companies, including Aequs, leaving the fund's portfolio with a total of twenty-four varied defence-related stocks.

An Indian resident successfully challenged the tax department's claim of undisclosed foreign income on maturity proceeds from a Dubai life insurance policy. The ITAT ruled that foreign insurer policies are not automatically subject to the Black Money Act, especially when premiums originate from non-taxable foreign earnings. This landmark decision offers clarity for NRIs and returning NRIs.

ICICI Bank now leads mutual fund portfolios, surpassing HDFC Bank in July. This shift reflects investor concerns over HDFC Bank's leadership succession and governance issues. ICICI Bank has shown a steadier stock performance and stable results recently. Mutual funds have increased holdings in both banks, while overseas ownership has reduced. Reliance Industries, Bharti Airtel, and Axis Bank follow as top mutual fund holdings.

Sebi is enhancing transparency in the mutual fund industry by requiring comprehensive disclosures from fund sponsors. The new single application form simplifies the registration for new funds, compelling sponsors to elaborate on their ownership structures, financial stability, and governance practices. Moreover, this revised process mandates compliance with established eligibility criteria and experience norms, ensuring a more robust foundation for mutual fund establishments.

JioBlackRock Asset Management has launched regular plans for eligible mutual fund schemes, expanding beyond its existing direct-plan offerings. Available through empanelled distributors from August 17, the move aims to broaden investor access while strengthening partnerships with Indias growing mutual fund distribution network.

Sebi has replaced multiple mutual fund registration forms with a single consolidated application, simplifying the approval process for new sponsors. The revised form captures ownership, financial strength, regulatory history, management, infrastructure and investor services while retaining detailed eligibility and compliance requirements.

India's six publicly listed Real Estate Investment Trusts (REITs) achieved remarkable results in Q1 FY27, doubling their distributions to a total of Rs 3,136 crore, which marks a 101% rise from the previous year. In addition to this significant financial milestone, the number of listed REITs grew from four to six, managing more than 214 million square feet of valuable real estate.

Morgan Stanley retained its positive view on Reliance Industries after its partnership with Rolls-Royce to develop indigenous combat engines for Indias AMCA programme. The brokerage said the move reinforces Reliances evolving strategy.

There were around 237 unique stocks in July. We filtered these to include only stocks with a market value of over Rs 100 crore.

JioBlackRock Mutual Fund had total assets under management of Rs 21,641 crore and managed nearly 15 funds in July. Its portfolio was led by HDFC Bank and ICICI Bank, followed by major names such as Bharti Airtel, Reliance Industries, Mahindra & Mahindra, SBI, Larsen & Toubro, Tata Steel, Infosys and ITC.

India's birth certificate has become an indispensable document for its citizens. Recent regulations stipulate that birth registrations are mandatory for obtaining passports and various services. This alteration especially affects Non-Resident Indians facing challenges with overseas births. Any delayed registrations will now necessitate approval from a judicial authority or magistrate. Thus, maintaining precise birth records is crucial for establishing legal identity.

Sunil Singhania-led Abakkus Mutual Fund has crossed the Rs 10,000 crore AUM milestone less than a year after launching its first scheme in December 2025. The fund house now has more than 1.91 lakh investors and manages three equity schemes along with a Liquid Fund.

The CGHS has updated its regulations regarding beneficiary consultations and medical investigations. All follow-up treatments and tests costing up to Rs 3,000 should be done at the same facility. For investigations over Rs 3,000, prior referral from CGHS is necessary. Consultations are valid for a seven-day period within the same specialty. Additionally, eye consultation fees now encompass three specific examination procedures.

Sunil Singhania-backed Abakkus Flexi Cap Fund increased its exposure to Reliance Industries, Vedanta Power and 32 other stocks in July. The fund added shares of NTPC, Edelweiss Financial Services, Vedanta Aluminium Metal, SBI, HDFC Bank and ICICI Bank, while trimming three holdings and exiting Bank of Baroda.

Gold mutual funds and ETFs offer beginners convenient ways to invest small amounts monthly. Mutual funds provide professional management and easy redemption, while ETFs offer lower costs for investors comfortable using a demat account.

Apartment owners have no exclusive rights over common amenities if they signed sale deed containing a clause giving consent to sharing them with another housing society, rules Karnataka High Court. Read the article to know why the homeowners lost the case.

Mutual funds stepped up selling in several midcap stocks in July, with Exide Industries, Kalyan Jewellers, Info Edge, FSN E-Commerce and Oil India among the biggest stocks to see net selling.

In today's marketplace, gold prices remain pivotal for both investors and those seeking gifts. Consumers are encouraged to explore pricing options at Tanishq alongside other top brands. The rates for 22K gold jewelry exhibit minor variances among major cities in India. Reliable pricing is provided by Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas. Anticipate the release of indicative retail rates from the IBJA later today.

Do you need witnesses for a registered sale deed? Know what determines the validity of a registered sale deed. Know what the law says

NRIs can buy life insurance in India to protect financial obligations. Additional KYC and underwriting requirements apply for non-resident Indians. Premiums are paid through NRE, NRO, or FCNR accounts, and currency fluctuations matter. Country of residence impacts premiums and underwriting due to risk assessments. The location of financial responsibilities guides the decision for buying insurance.