Microfinance portfolio rebounds to 3.31 lakh crore, up 3.2% q-o-q: Report
The growth was largely supported by a surge in new loan originations and an increase in average ticket sizes across the industry
Indian banking credit growth to moderate to 12-13% in FY27E: Report
While deposit growth is projected to stabilize and improve marginally to match credit growth at 12-13% by FY27E, the traditional reliance on low-cost savings is under significant pressure
12 key income tax form changes every taxpayer should know: From Form 16 to Form 168
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.
What if your child turns 18 with 1 crore already waiting for them? A 4-step plan that lets you do it
Earn Rs 75 lakh, pay tax on Rs 37.5 lakh: the legal shortcut doctors and lawyers are using
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.
Bulk depositors cash in on banks need to raise resources to meet credit demand
Credit growth (year-on-year) of all scheduled banks at 14.88% as on April 15 was 276 basis points, higher than the deposit growth of 14.88%, per RBIs latest data
Muthoot Microfin eyes 30K cr AUM by 2030
Muthoot Microfin Ltd (MML) expects to grow its assets under management (AUM) to 30,000 crore by 2030 by increasing wallet share in existing matured customer base and acquiring new customers from open market
SBI expected to post a modest growth in Q4 profit
Broking firms see flat net interest margin
Prudent Corporate Advisory Services logs 14% rise in profit in Q4
Revenue up 27% to 361 crore; equity AUM grows 16% y-o-y despite Nifty correction; dividend of 3.50 per share declared
InMobi acquires MobileAction to deepen capabilities in Apples advertising ecosystem
The acquisition gives InMobi Advertising access to MobileActions data infrastructure
Manappuram Finance makes four senior leadership appointments
Move to enhance business, taxation, finance and technology functions
Karur Vysya Bank Q4 net up 41% on core and other income growth
Net interest income grew 25% YoY to 1,359 crore
Anthropic Mythos AI model has advanced capabilities to identify and potentially exploit systems, he said
Bajaj Finserv Health appoints Deepak Matai as CEO
Matai brings over 25 years of leadership experience across financial services, insurance and consumer businesses, Bajaj Finserv
The Gold Standard: How a Bootstrapped Company Outlasted Every Funded Rival in Indias Goldtech Boom
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.
Now make EPF payments via net-banking as Federal Bank launched this facility for its customers
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
Borrower alert: HDFC Bank reduces MCLR on short-term tenures, increases 3-year rate
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%.
Aptus Value Housing Finance Q4 profit up 26% to 261-cr
Total income rose 19% to 594 crore during the January-March quarter of 2026 from 499 crore in Q4FY25
How cashback credit cards are shaping everyday spending habits
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.
Explained: Why mutual fund expense ratios are suddenly looking higher
RBI allows Kotak Bank to hike stake to 9.99% each in AU Small Finance, Federal Bank
On Thursday, AU Small Finance Bank and Federal Bank announced they received approval from the Reserve Bank of India on May 6
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.
NFO Update: Motilal Oswal Mutual Fund launches Motilal Oswal Contra Fund
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.
NFO Alert: Kotak International announces launch of Kotak Indo-Pacific Defence UCITS ETF
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.
BlackRock to invest in Indias Shapoorji Pallonji unit dollar debt, sources say
The asset manager is considering an initial investment of $100 million to $200 million in the bond issue via an Asia-focused fund, a move likely to reassure other investors, the first source said
Paytm rules out NBFC licence plans
NEW DELHI, May 7: Fintech major One97 Communications, which operates the Paytm brand, has ruled out plans to apply for a Non-Banking Financial Company (NBFC) licence. During the companys Q4 earnings call on Thursday, Paytm President and Group CFO Madhur Deora said, Were not super excited about going for an NBFC licence. He noted Paytms preference for a win-win partnership model where Paytm handles distribution, technology, and collections, while its blue-chip lending partners manage capital, risk, and cyclicality. We have [] The post Paytm rules out NBFC licence plans appeared first on Daily Excelsior .
Can Rs 85,000 monthly SIP create Rs 2 crore corpus in 7 years? Heres what calculations show
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.
Income tax calendar May 2026: Key TDS & TCS deadlines taxpayers must not miss
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 gets approval to sponsor pension funds under NPS
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.
Spending 1 lakh on preschool activities? Smart ways to plan and save for skill classes
Looking for largecap mutual funds amid market volatility? Check these top 5 funds to invest in May
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.
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 to raise stake in IIFL Capital to 51% with $211 million investment
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.
Banks well-placedto transition to expected credit loss provisioning: Fitch
The ratings agency expects the banking systems average common equity tier 1 (CET1) to decrease by 30 basis points in the financial year 2027-28.
The investor who did nothing beat the one who tried everything. Here's how to copy them
$83 trillion changing hands: Are millennials & GenZ ready for the biggest wealth shift in history?
Q4 ResultsToday, May 7, 2026, Live Updates: Follow our live updates
Zero forex to complementary lounge access: 5 popular travel credit cards worth checking out
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.
NC-JCM 49th annual meeting: Pension hike, CGHS expansion & medical allowance boost on agenda
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.
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.
RBI overhauls authorisation, renewal framework for authorised dealers
A FxC can purchase foreign currency notes/coins and travellers cheques; sell foreign currency notes/coins and travellers cheques for foreign travel purposes; and function as Money Transfer Service Scheme sub-agent in accordance with the guidelines on Money Transfer Service Scheme (MTSS).
ECLGS 5.0 could potentially benefit about 1.1 crore MSMEs: SBI report
Indian Banks Managing Director Binod Kumar sees an additional credit flow potential of between 12,000 crore and 15,000 crore under the ECLGS scheme
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.
OCI rules 2026: List of key revised rules under Citizenship Amendment Rules, 2026
South Indian Bank post 19% rise in net profit at 408 crore in Q4 FY26
The net profit for the whole FY26 was 1,455.14 crore, registering a growth of 12% compared to 1,302.88 crore in FY25
J&K Bank posts record annual profit of 2,363 crore in FY26
Net profit rises 13%, marking fourth consecutive year of record earnings
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.
SEBI classifies significant indices based on 20,000-cr AUM threshold
In its circular on Tuesday, the regulator said the threshold will be assessed for half-yearly periods ending on June 30 and December 31
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.
NFO Update: Groww Mutual Fund launches Groww Nifty Private Bank ETF
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.
11 equity mutual funds with over Rs 1,000 NAV offer upto 24% CAGR since their inception
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.
NPS Swasthya explained: How it compares with regular health insurance policies
Overpaying for insurance? Spot these costly online dark patterns before you buy
Using mutual funds as collateral? Avoid these 5 errors before taking loan
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.
PNB allocates up to 8,000 crore for cybersecurity, ramps up tech procurement
The bank is also fast-tracking procurement of security tools and has moved to 24/7 audits to detect vulnerabilities quickly
My Portfolio: How your mutual fund SIP can help you create Rs 7 crore corpus in 15 years
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.
Looking for best mutual funds to invest in May 2026? Here are top 10 performers
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:
You dont need a raise; you need these 6 money habits to build wealth faster
SIP vs RD: With Rs 10,000 monthly investment, where can you make more money in 10, 15 and 20 years?
Choosing between SIPs and Recurring Deposits (RDs) for regular investment presents a common dilemma. While RDs offer predictable, fixed returns with minimal risk, SIPs in mutual funds, particularly equity funds, have the potential to generate significantly higher corpus over the long term, despite market fluctuations.
Enhanced tax-free allowances under the Income-Tax Rules, 2026 can improve employees take-home pay. However, the expanded definition of wages under the Code on Social Security, 2020 may increase gratuity and other social security liabilities. While restructuring may benefit employees, it can also raise long-term costs for employers, creating a clear dilemma and limiting widespread adoption.
Why MF expense ratios are showing higher numbers
Mutual fund expense ratios are rising due to new Sebi guidelines mandating the inclusion of trading-related costs in the Total Expense Ratio (TER). This revised reporting offers investors a more transparent view of all scheme expenses, including brokerage and transaction fees, previously excluded from the headline number.
To mitigate moral hazard, REs shall be prohibited from selling the SNFA back to the borrower or to any related party of the borrower. They will also be required to disclose the stock of SNFAs held by them in their balance sheet
Manappuram Finance post 405 crore PAT in Q4
The assets under management grew 22.4 per cent to 63,798 crore
Cholamandalam Investment and Finance Company sees 20-23% AUM growth in FY27
Disbursements grow by 25 per cent YoY in the March quarter
Investing Rs 1.5 lakh annually in Public Provident Fund for 20 years can yield a tax-free retirement corpus exceeding Rs 66 lakh. This popular scheme offers a fixed interest rate, with compounding significantly boosting returns. PPF accounts mature in 15 years but can be extended for further growth, providing a robust wealth creation avenue.
PM Kisan 23rd instalment date and time: Check when you can get your next payout
Pm Kisan Samman Yojana: Farmers eagerly await the 23rd installment of the PM Kisan Yojana, expected around June-July 2026, with each beneficiary receiving Rs 2,000. The scheme provides annual income support to eligible landholding farmer families. Mandatory e-KYC and Aadhaar linkage are crucial for receiving payments.
Can I claim LTCG exemption in same year if I buy a property before selling existing one?
ET Wealth Reader's Query: Will buying an apartment before selling the existing one still allow me to claim long-term capital gains exemption in the same financial year?
Discerning among retail investors chase higher returns on RBIs Retail Direct platform
The total number of accounts opened on the central banks retail direct portal jumped about 54% y-o-y to 3,61,402 as on April 27, 2026
Investing Rs 20,000 a month for 25 years? See how much wealth you can create
Investing Rs 20,000 monthly via SIP for 25 years at an expected 12% return can build a corpus of around Rs 3.40 crore. Out of this, Rs 60 lakh is the invested amount, while the remainder is generated through compounding over the long-term investment horizon.
Gold prices experienced a minor decrease on May 5, 2026. Rates for 24k, 22k, and other gold purities showed a downward trend compared to the previous day. Leading jewellers like Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas reported lower prices.
About seven equity mutual funds delivered over 25% CAGR in the past three years, out of 246 schemes analysed by ETMutualFunds. Bandhan Small Cap Fund topped the list with a 30.24% CAGR, followed by midcap funds such as HSBC Midcap Fund (26.55%) and ICICI Prudential Midcap Fund (25.92%).
Individual investors, HNI holdings in equity fall to 5-year low
As they take MF route to tap the equity market
Punjab National Bank Q4 results: Net profit up 14%, NPAs fall to multi-year low
Despite a 3.5% drop in net interest income to 10,380 crore, the bank managed to post stronger bottom-line growth, aided by lower provisioning requirements.
SBI employees' nationwide strike May 25, 26: The demands raised by the federation include recruitment of messengers and armed guards, adequate staffing, and stopping outsourcing of permanent roles. AISBISF has also underlined issues like pension related concerns under the National Pension System, lack of inter circle transfers for employees recruited after 2019.
Tax benefit removal under new tax regime hits life insurance sales: Deepak Parekh
The change is linked to the introduction and expansion of the new tax regime, which became the default option from April 1, 2023
Bank credit growth rises 15.9% in FY26, driven by retail, NBFC and industry segments: Report
Gold loans spike 123% year-on-year, boosting overall momentum
May 2026 income tax calendar: Important TDS, TCS deadlines and other due dates explained
Taxpayers, mark your calendars for May 2026! Crucial compliance deadlines loom, including TDS/TCS deposits for April and certificate issuances. Remember to file key statements and declarations under the Income-tax Act, 2025, to avoid penalties. Stay informed to meet these important dates.
