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RBI proposes tighter governance framework for banks; overhauls risk, compliance and audit functions

Under the revised framework, banks will be required to establish clearly defined and independent Risk Management, Compliance and Internal Audit functions, each headed by a Chief Risk Officer (CRO), Chief Compliance Officer (CCO) and Head of Internal Audit (HIA), respectively.

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May E-Way bill generation ranks 4th-highest since GST implementation

India’s domestic trade and logistics activity continued to display resilience in May, with e-way bill generation under the Goods and Services Tax (GST) regime rising to 136.08 million, marking an increase of nearly 11 per cent from 122.65 million recorded…

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Delhi HC rejects bail plea of former Reliance Power CFO Ashok Kumar Pal in money laundering case

The Delhi High Court on Wednesday rejected the bail applications filed by Ashok Kumar Pal, former Chief Financial Officer (CFO) of Reliance Power Ltd, refusing to grant him either regular or interim bail in a money laundering case linked to…

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Pvt sector reposing faith in economy, capex cycle showing signs of revival: Punjab National Bank CMD Ashok Chandra

Private sector investment is reviving. Companies are borrowing more for expansion and infrastructure. Punjab National Bank (PNB) sanctioned nearly Rs 4 lakh crore in corporate loans last fiscal year. This trend continues, with sanctions expected to exceed Rs 4 lakh…

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India's bond tax exemptions set to boost foreign debt inflows and global index inclusion bid

India is turning heads in the financial world by scrapping taxes on foreign investments in government bonds. This groundbreaking change aims to attract a significant amount of overseas capital while simplifying the way foreign investors navigate its debt market. As…

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FCNR deposit in demand: $1,277 extra interest on $10,000 investment by NRIs after RBI's latest move?

FCNR interest rates: The Indian government will now cover hedging costs for fresh 3 to 5-year FCNR(B) deposits until September 30, 2026. This move allows banks to offer higher interest rates to Non-Resident Indians (NRIs) and Overseas Citizens of India…

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EPFO's insurance scheme explained: Here's how members can file EDLI claims, avail up to ₹7 lakh benefit at no extra cost
The EPFO's Employees Deposit Linked Insurance Scheme (EDLI) offers insurance for members and ensures that their families receive financial payout in case of death. Here's how to claim up to ₹7 lakh benefit at no additional cost… 
Delhi Lakshmi Yojana: ₹2,500 aid cannot be spent on tobacco, gambling and...; here's what’s banned?
The Delhi Lakshmi Yojana provides ₹2,500 monthly to eligible women from low-income families, effective August 1. Beneficiaries face strict eligibility checks and spending restrictions.
Advance tax under Income Tax Act, 2025: Who needs to pay, deadlines and how to calculate it
Advance tax helps taxpayers spread their income tax payments throughout the year instead of paying a lump sum later. The Income Tax Act, 2025, introduces rules from Tax Year 2026–27. Here’s who needs to pay, key deadlines, and how to calculate it.
Oil prices could fall to $60: Will petrol and diesel get cheaper for the common man?
Mark Matthews of Julius Baer predicts crude oil prices may drop to $60 a barrel amid geopolitical concerns. While higher supply from Gulf producers could stabilise prices, sustained low prices are unlikely. The impact on consumers may be limited due to taxes and refinery costs in India.
Can an NRI be the sole trustee of an Indian private trust?
There is no prohibition under the Indian Trusts Act on appointing a non-resident Indian as a trustee of an Indian private trust. However, the appointment should be structured carefully, in the context of the rights available to beneficiaries
‘Salary will stop one day; medical bills will not’: Top fund manager warns about losing ₹2 lakh a month if...
A sizeable corpus doesn't necessarily end anxiety, said a retirement strategist, noting that many retirees are afraid to spend because they do not know how much they can safely withdraw without exhausting their savings.
Does an NRI get taxed for gifting savings to his father's HUF? Does this fall under Income from Other Sources? Explained
An NRI in the UK inquired about the tax implications of gifting savings to his father's HUF. HUFs face specific tax rules under the Income Tax Act 2025, treating unconsidered gifts as taxable income, with exceptions for relatives.
8th pay commission: Here's how much fitment factor of 2.57, same as 7th CPC, can hike salaries for employees
Fitment factor is a multiplier used to convert an employee's basic salary to the revised basic salary under the new pay commission. Today, we calculate how much of a salary hike another 2.57 fitment factor — same as 7th CPC — could provide beneficiaries.
'Building wealth isn't the goal': Deepak Shenoy’s investment advice for mutual fund SIPs goes viral
Deepak Shenoy, Founder and CEO of Capitalmind Mutual Fund, highlights the effectiveness of lump-sum investing and SIPs. He explains how initial portfolio value reflects saved money while wealth ultimately relies on both investing and spending wisely in life.
Financial constraints a major challenge in narrowing DA gap with central govt employees, says Tripura FM
Financial constraints are the major challenge to narrowing the dearness allowance (DA) gap with central government employees and pensioners, as per Tripura state finance minister Pranajit Singha Roy.