RBI finalises 1 lakh cr & above as asset size criteria for classifying a NBFC in Upper Layer
Tata Sons may be required to go for listing
RBI enhances customer protection for electronic banking transactions
Banks asked to put in place a mechanism for compensation of up to 25,000 for small value fraudulent e-banking transactions, mandatorily send instant SMS alerts to its customers and provide 24x7 access through various channels for reporting of fraudulent transactions
Supra Pacific Financial Services targets 500-branch expansion and 2,500 crore asset base
The NBFC will strengthen its presence in states including Gujarat, Delhi, Rajasthan, Odisha and Telangana, while expanding deeper into southern and western markets.
FundsIndia raises 44.6 crore by closing maiden secured NCD issuance
The firm plans to use the funds to strengthen its technology and platform capabilities, and expanding the range of investment products
RBI proposes guidelines for banks to manage AI risks
MUMBAI, June 24 (Reuters) RBI has proposed rules requiring banks to strengthen oversight of risks tied to AI and machine-learning models, mandating board-approved policies, stronger controls and model inventories. The Reserve Bank of India said banks must put in place a board-approved risk management framework covering all models, including those for AI and machine-learning. Regulated entities must assess risk at both the individual model level and across the enterprise on an ongoing basis, the RBI said. If risks are found to be excessive, lenders should take timely corrective steps, including enhanced controls, restrictions on use, remediation or decommissioning of
London court orders Nirav Modi to pay 100 cr to Bank of India
London Circuit Commercial Court ordered him to pay more than $ 10.7 million to BOI for defaulting a loan given to a Dubai-based company promoted by him
India's asset wealth management AUM projected to reach US$ 1.7 trillion by 2030: PwC report
Indias asset and wealth management industry is projected to reach US$1.7 trillion in AUM by 2030, driven by rising retail participation, growing institutional pools and expanding digital financial infrastructure, according to a PwC report.
Belong reports 2x jump in investment inflows as NRIs boost India allocation via GIFT City
More NRIs are approaching India as an investment destination, says Ankur Choudhary, Co-Founder and CEO of Belong
NFO Update: Ionic Asset announces launch of Global Asset Allocation Fund
Ionic Asset has launched the Global Asset Allocation Fund, a GIFT City-based, privately placed offering aimed at sophisticated investors, HNIs and UHNIs. The fund seeks to provide geography-agnostic multi-asset exposure through a mix of global equities, commodities and REITs, with allocations designed to capture long-term structural opportunities across markets and themes.
PNB MetLife settles 99.81% of individual claims in FY26, pays out over 1,029 crore
PNB MetLife pays out 526.62 crore across 6,188 individual claims and 502.69 crore across 6,868 group claims during year
Premature to talk about a rate hike: RBI Governor Malhotra
The Governor observed that if the MPC was sure about the second round effects of inflation, it would have acted.
Banks are constrained for credit only when they do not have sufficient capital and we (banks) have sufficient capital, the RBI Governor said
One balance, many markets: Binance and the making of a finance super app
Binance is revolutionizing investing by consolidating crypto, stocks, and commodities into a single platform, mirroring Asia's 'super app' model. This move, particularly impactful in emerging markets, offers unprecedented access to global equities and pre-IPO opportunities. Fractional ownership and stablecoin settlements are breaking down traditional barriers, making diversified portfolios accessible via smartphones and promising to channel trillions into equity markets.
Will the ITR filing deadline for AY 2026-27 be extended? Here's what taxpayers need to know
Taxpayers can breathe easy as the Income Tax Return (ITR) filing deadline for AY 2026-27 is unlikely to be extended. Unlike last year's technical glitches and delayed form releases, this year's process has been smooth, with utilities available on time. Experts advise against banking on an extension and urge prompt filing within the stipulated dates. Various deadlines exist for different taxpayer categories.
Senior citizen FD interest rates: Bandhan Bank has boosted fixed deposit interest rates, offering senior citizens a compelling up to 7.95% rate on select tenures. This revision, effective June 20, 2026, also sees other customers benefiting from competitive rates. The bank's savings accounts also provide attractive returns for higher balances.
No Form 16? Here's how salaried taxpayers can file ITR using AIS and Form 26AS for FY 2025-26
Salaried individuals awaiting Form 16 for ITR filing can still proceed without it. Employers must issue this TDS certificate by June 15th. If delayed, taxpayers can use salary slips, bank statements, and crucial documents like AIS and Form 26AS to verify income and tax details. These online statements, accessible via the Income Tax portal, are vital for accurate filing and ensuring TDS credit.
These 5 flexicap mutual funds delivered single-digit returns in 3 years. Check details
AMFI Rejig: Mazagon Dock among 9 largecaps stocks that may get midcap status in H2 CY26
Nuvama Institutional Equities expects AMFIs H2 CY26 semi-annual rejig to trigger changes in market-cap classifications, with around nine stocks potentially moving from large-cap to midcap status. Rising cut-off thresholds could affect names across real estate, hospitality, healthcare, industrials and consumer sectors.
Retirees often face a dilemma investing their corpus, balancing safety with growth. Expert Abhijit Chokshi advises a diversified approach for a Rs 1 crore investment, suggesting balanced advantage funds, quality debt funds for emergencies, and a cautious entry into equity via Systematic Transfer Plans (STPs). This strategy aims to manage risk and ensure peace of mind during market volatility, emphasizing a long-term perspective.
NFO Update: Tata AIA Life Insurance launches Multifactor Index Fund
Tata AIA Life Insurance has launched the Tata AIA Multifactor Index Fund, a ULIP-based offering designed to combine equity market participation with life insurance protection. Built on a low-volatility multifactor strategy, the fund aims to provide diversified exposure and steadier long-term wealth creation through a rules-based investment approach.
Edelweiss Mutual Fund has launched a unique technology fund, blending Indian IT stocks with global tech giants. This fund aims for long-term capital appreciation by taking a contrarian view on Indian IT while investing in innovative global companies. It offers investors a single avenue to tap into both domestic and international technology growth opportunities, differentiating itself from single-focus funds.
ITR filing 2026: July 31 isn't the deadline for everyone; check 5 other key dates
FCNR rates surge to 7%: What NRIs need to know before moving overseas deposits
NFO Alert: HDFC Mutual Fund announces launch of Nifty Auto Index Fund
HDFC Mutual Fund has launched the HDFC Nifty Auto Index Fund, an open-ended scheme offering passive exposure to Indias automobile and auto ancillary sector. The NFO is open for subscription and will close on July 3. The scheme will reopen for continuous sale and repurchase within five working days after allotment of units under the NFO.
NFO Insight: Can JM Multi Asset Allocation Fund help investors navigate uncertain market?
JM Financial Mutual Fund has launched the JM Multi Asset Allocation Fund, aiming to provide long-term capital appreciation and income by investing across equity, debt, and commodities. The fund employs a structured, model-guided approach to dynamically allocate assets, seeking to navigate market cycles and offer risk-adjusted growth. Experts suggest such funds can offer diversification and stability, potentially outperforming pure equity funds in uncertain times, and may suit first-time investors.
Best medium duration mutual funds to invest in June 2026
Investment advisors are increasingly recommending medium duration funds, anticipating superior returns as interest rates decline. These debt funds, mandated by SEBI to hold instruments with a Macaulay duration of three to four years, suit investors with similar horizons. While sensitive to rate hikes, they offer potential for those willing to accept some volatility for longer-term parking of funds.
Not money savvy & only getting worse? 7 silent money mistakes draining middle-class India dry
Can a bank seize your vehicle after EMI default? What borrowers need to know
Facing vehicle repossession in India? Understand your rights: lenders can't seize your vehicle after just one or two missed EMIs without due process. Recovery agents must not use force or intimidation. You're entitled to notices and can reclaim your vehicle before sale if you regularize your loan. Any surplus from a sale after clearing dues belongs to you. Know the rules to protect your asset.
Investment options for senior citizens: Senior citizens seeking steady retirement income can choose between Senior Citizens Savings Scheme (SCSS), Fixed Deposits (FDs), and RBI Floating Rate Bonds.
Indian professionals holding US ESOPs and RSUs face a significant risk of up to 40% US estate tax on assets exceeding $60,000 after their death. This applies even if they are non-residents. Experts suggest strategies like routing shares through GIFT City, investing in UCITS ETFs, or lifetime gifting to mitigate this substantial tax burden for legal heirs.
Beyond returns: How benchmarking helps investors pick winning mutual funds
Understanding mutual fund performance goes beyond just returns. A benchmark, like Nifty 50 or Sensex, acts as a crucial yardstick to gauge a fund's success. Investors should look for funds consistently outperforming their benchmark, even by a small margin, over extended periods and across market cycles. This comparison is vital for making informed investment decisions.
Cross-border payments platform Skydo gets international payment licence in Canada
The company also plans to support Canadian businesses with global collections, local accounts and supplier payments
Axis Bank anticipates a 10,000 cr portfolio expansion under ECLGS 5.0
ECLGS 5.0 aims to provide credit guarantee coverage of 100 per cent for MSMEs and 90 per cent for non-MSMEs
VinFast India partners with Shriram Finance to strengthen EV financing accessibility
VinFast customers will benefit from Shriram Finances tailored financing solutions, including up to 100 per cent on-road funding, attractive interest rates, and flexible repayment options
Indian banks can extend loans to the FCNR (B) account holders and mark lien on such deposits
RBI allows Indian banks to lend against overseas foreign currency deposits
The move is part of measures aimed at strengthening dollar inflows into the country
Kaleidofin Capital raises $5 million via IIX-backed womens livelihood bond NCD deal
The capital will be deployed in clean energy and financial inclusion initiatives
RBI issues final norms for TReDS platforms to boost MSME financing
The new framework simplifies onboarding and enables financiers to access credit guarantees
8th Pay Commission salary: How minimum and maximum basic salaries have changed since 1947
VinFast India partners Shriram Finance for EV retail vehicle financing
The collaboration will provide customers up to 100% on-road funding, flexible repayment options, and competitive interest rates, while leveraging Shriram Finances wide pan-India network to boost EV adoption
The move comes as GIFT Citys broker-dealer ecosystem continues to expand, with more than 100 registered entities
5 largecap mutual funds deliver over 15% annualised returns in 3 years. Check the list
Passive largecap funds led three-year performance, with BHARAT 22 and Nifty Next 50 ETFs delivering 18.9%22.1% annualised returns, while several Sensex and Shariah index funds posted modest gains.
Should you stop your SIP because the market is not doing well? History suggests otherwise
Market downturns often tempt investors to pause their SIPs, but historical data suggests staying invested may be the better strategy. A WhiteOak Capital study found that SIPs with weak initial returns frequently delivered stronger long-term outcomes, reinforcing the importance of discipline, consistency and time in the market.
Central government employees appointed on compassionate grounds before 2004, but joining after, can now opt for the Old Pension Scheme (OPS). This decision extends the benefit previously granted to regular appointees who applied before the January 1, 2004, cutoff. The move follows inter-ministerial consultations and addresses demands from employee unions, offering a significant relief for affected families.
UPI, Aadhaar banking drive 61% of MSME transactions; AI adoption rises: Report
Survey of 10,000 retailers shows rising confidence in digital tools and early-stage AI adoption at last mile
8th pay commission proposals: Central government employees are urging the 8th Pay Commission to significantly hike House Rent Allowance (HRA) rates, citing soaring urban rents. Employee bodies are proposing increases to 36%, 40%, and even higher for different city categories, with some suggesting HRA be linked to Dearness Allowance (DA) and extended to pensioners. These demands aim to better align payouts with the cost of living, particularly for lower-level staff in major metropolitan areas.
Consistent performers: 6 equity mutual funds deliver over 20% CAGR in 3- and 5-year horizons
Six equity mutual funds have delivered over 20% CAGR in both three- and five-year horizons, an ETMutualFunds analysis showed. The list includes mid cap and small cap schemes from HDFC, Nippon India, Quant, Bandhan and Invesco, highlighting consistent long-term performance across categories despite market volatility.
NFO Alert: JM Financial Mutual Fund launches multi asset allocation fund
JM Financial Mutual Fund has launched its new JM Multi Asset Allocation Fund, an open-ended scheme designed for long-term wealth creation. Subscriptions open June 24 and close July 8, 2026. This fund offers a diversified portfolio across equity, debt, gold/silver, and commodity derivatives, aiming for growth with a structured, actively managed approach to navigate various market cycles and economic conditions.
Gold rate today: Gold prices saw a welcome dip today, offering relief to eager buyers. Major brands like Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas have reduced their 22k gold rates across key Indian cities.
OFSS among top 4 midcap stocks that saw highest mutual fund selling in May
Mutual funds heavily sold midcap stocks in May, including SAIL, Oracle Financial Services, National Aluminium, and Patanjali Foods, reflecting shifting allocations, valuation concerns, and sector rotation in Indian equity markets.
PFC becomes first non-bank lender to tap dollar debt after RBI subsidy, bankers say
PFC accepts bid worth $300 million for a five-year dollar bond issue
IDFC First scam: CBI arrests senior IAS officer for embezzling 60 crore
The case is part of a CBI investigation into embezzlement of 657 crore from the accounts of the Haryana government and Chandigarh administration maintained at IDFC First Bank
Searching for the best smallcap funds? Check these top 4 picks for June 2026
ETMutualFunds has shortlisted four top smallcap mutual funds based on rolling returns, consistency, downside risk and asset size. Nippon India leads with the highest returns, while others show mixed quartile performance. These funds suit aggressive investors with a high risk appetite and a long-term investment horizon.
Filing ITR? Dont ignore the nature of employment field; it can affect NPS tax benefits
The Nature of Employment field in the ITR is more than a routine disclosure. An incorrect selection can affect certain tax benefits, including exemptions on gratuity, commuted pension and leave encashment, as well as deductions for employer contributions to NPS, potentially leading to incorrect tax computation and compliance issues.
Can me and my wife claim LTCG tax exemption on gains from residential property sold in 2025?
ET Wealth Reader's Query: In 2025, I sold a residential property, which was purchased in 2008 in the joint names of my wife and I. However, my wife did not contribute financially to the purchase. I would like to know if both of us can claim long-term capital gains tax benefits.
AMFI Rejig: BSE and Vodafone Idea among 8 midcap stocks that may get largecap status in H2 CY26
Eight midcap stocks, including BSE, Vodafone Idea, Hitachi Energy India, Jindal Steel, Indian Bank, Indus Towers, BHEL and Vedanta Aluminium, may be upgraded to largecap status in AMFIs H2 CY26 rejig, according to Nuvama Institutional Equities.
The Income Tax Appellate Tribunal (ITAT) Delhi has ruled that even if a non-resident salaried individual has received any per-diem payments from his Indian employer due to his overseas work, then this payment is not taxable under Article 16 of India-UK Double Tax Avoidance Treaty (DTAA).
Can a 10% annual SIP step-up help turn Rs 26,000 monthly investment into Rs 1 crore?
A 10% annual SIP step-up could boost a Rs 26,000 monthly investment towards Rs 1 crore in a decade, according to an expert. The analysis highlights portfolio overlap and suggests reallocating from large-cap and mid-cap funds to small-cap ones. Investors are advised to exit thematic and hybrid funds for better diversification and long-term wealth creation.
No income tax on these 8 earnings: Check if you qualify for exemption
Best gilt mutual funds to invest in June 2026
Gilt funds are being recommended by advisors for 'aggressive' debt investors anticipating interest rate cuts by the RBI, with potential for double-digit returns. These funds, investing in government securities, carry no credit risk but are highly sensitive to interest rate fluctuations. Investors should have a long-term horizon and understand rate cycles to benefit from potential gains when rates fall.
Indians now have easier access to global markets through direct overseas investing or GIFT City. Direct investing offers wider choices and lower entry barriers, ideal for hands-on investors with smaller sums. GIFT City provides a structured, convenient route with higher initial investment, suitable for those seeking a managed approach to international diversification. Read the article to know how the two routes compare in terms of taxation, costs and more.
This is driven by a pickup in non-food bank credit and rise in foreign direct investment (FDI) to India, per the central banks latest monthly bulletin
RBI to conduct 2 lakh crore 7-day variable rate repo auction on June 23
The move follows a review of current and evolving market liquidity trends
Any breakdown of interim US-Iran peace agreement may reignite material risks: RBI Bulletin
The uncertainties could have an impact on the outlook through international trade, cost pressures, capital flows and commodity prices
Bankers expect RBI to issue detailed FAQs on limited period high interest rate FCNR (B) deposits
Offering leverage on a FCNR (B) deposit has emerged as a grey area
CBI arrests ex-RCFL and RHFL CEOs in 7,623 crore bank fraud case
The agency said the accused sanctioned loans to intermediary and conduit firms in violation of RBI and lending norms, resulting in massive losses to public sector banks
PFRDA has launched Pension Sahayak, an AI-powered platform simplifying pension grievance redressal. This upgrade from the old CGMS offers web, mobile, and WhatsApp access in 22 languages, including voice commands.
Alan Greenspan, ex-Federal Reserve chief, dies at 100
Widely regarded as the architect of a prolonged US economic expansion, Greenspan oversaw an era of low inflation, strong growth and booming markets, steering monetary policy through multiple crises including the 1987 crash and the Asian financial crisis
How to claim up to 10 crore capital gains tax exemption
Banks to be closed for 3 consecutive days this week: Check if your state is on the list
Bank holidays: Several Indian states and union territories will experience a three-day bank closure this week, from Friday, June 26th to Sunday, June 28th, 2026. This extended holiday is due to Muharram on Friday, followed by the fourth Saturday and Sunday.
RBI Governor calls MSMEs key partners in Indias growth story
Malhotra described MSMEs as the nursery of entrepreneurship and stressed the need for a financial system that effectively serves enterprises across districts and towns
Top 5 equity mutual funds delivered up to 24% annualised SIP returns over last decade
Five equity mutual funds delivered up to 24% annualised SIP returns over the last decade, with small-cap and mid-cap schemes leading the performance chart.
RBI unlikely to raise interest rates soon amid declining crude oil prices, say experts
The MPC projected Indias real GDP growth for 2026-27 at 6.6% while revising Consumer Price Inflation (CPI) upward to 5.1%, with inflation expected to peak at 5.9% in the third quarter
Navi Flexi Cap among 5 flexicap funds with highest cash holding. Check details
Five equity funds held over 50% of their portfolios in cash in May, led by Samco Flexi Cap Fund at 62.4%, reflecting a cautious stance and liquidity preparedness.
Income Tax AY 2026-27: Salaried individuals earning up to Rs 12.75 lakh annually may enjoy zero tax liability due to enhanced Section 87A rebate and standard deduction, but filing an ITR is crucial. However, this rebate doesn't apply to special incomes like capital gains, Virtual Digital Assets (VDAs), and lottery winnings, which are taxed at specific rates.
IPO investing is gaining traction, but picking winning stocks is tough for individuals. Edelweiss Mutual Fund CEO Radhika Gupta suggests their Recently Listed IPO Fund as a solution. This professionally managed portfolio focuses on new listings, offering diversification and potential post-listing gains. While acknowledging potential volatility due to mid-to-micro cap exposure, Gupta recommends SIPs for smoother navigation of market ups and downs.
Aadhaar email update to be free via mobile app from July 1; UIDAI waives Rs 75 fee for six months
The Unique Identification Authority of India (UIDAI) is making email address updates via the Aadhaar mobile app free for six months, from July 1 to December 31, 2026. This move aims to encourage users to keep their contact information current for important notifications. Currently, a Rs 75 fee applies for this service. The waiver is exclusively for updates made through the Aadhaar mobile application.
NFO Alert: Tata Mutual Fund announces launch of Tata Multi-sector Passive FoF
Tata Mutual Fund has launched the Tata Multi-sector Passive FoF, an open-ended scheme investing in passive equity funds across various sectors. Aiming for long-term capital appreciation, it uses a rules-based approach with fund manager discretion to dynamically allocate to leading sectors, mitigating emotional bias and timing challenges for investors. The NFO is open until July 6, with a minimum investment of Rs 5,000.
EPFO interest rate update: When will 8.25% EPF interest be credited to your PF account?
8th Pay Commission news: Central government employees are anticipating the 8th Pay Commission's report, with some associations suggesting an early submission by January 2027 and potential salary hikes from April. Despite a November 2025 formation and an 18-month deadline ending May 2027, the commission's swift pace, aided by online processes, fuels optimism for a quicker payout. However, some experts believe a second-half 2027 submission is more probable.
Gold rate today: Gold prices saw a slight uptick today, June 22, 2026, with 22k gold jewellery at Tanishq priced at Rs13,475 per gram. Major retailers like Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas also reflect similar rates.
Vedanta Aluminium set for largecap upgrade in H2 CY26; power, oil & gas arms may turn smallcaps
Vedanta Aluminium is likely to be upgraded to the large-cap category in AMFIs H2 CY26 semi-annual reshuffle, while Vedanta Power, Oil & Gas, and Iron & Steel may be classified as smallcaps after the demerger, according to Nuvama Institutional Equities. AMFI may also revise market-cap cut-offs, raising the large-cap threshold and adjusting mid-cap limits based on prevailing valuations.
Global banks drive India asset-backed securities sales to record
Foreign banks share in total issuance grew to about 35% in the year ended March, from 28% to 30% in each of the preceding two fiscal years
A husband's attempt to offset substantial stock market losses against his income was initially rejected by tax authorities. Despite trading using his wife's demat account and gifting her Rs 1.15 crore, the tax department argued the Rs 1.95 crore loss, including Rs 80 lakh from her own funds, was hers alone.
Physicswallah among top 5 smallcap stocks that saw highest mutual fund selling in May
Five smallcap stocks, including MRPL, Kaynes Technology, Wockhardt, GE Shipping and Physicswallah, saw the highest mutual fund net selling in May, according to Motilal Oswal Financial Services data, reflecting notable institutional exit trends.
Wife refused to leave sister-in-laws house after husband moved out; Delhi HC orders her eviction
A Delhi High Court ruling has affirmed a woman's eviction from her sister-in-law's inherited property. The court stated that once a husband loses his right to reside in his sister's house, his wife cannot claim a right to stay there. The sister-in-law, the sole owner via her mother's will, had permitted her brother and his wife to live there.
