Information about bank accounts, FD, RD, PPF, SSA, interest rates, KYC, ATM rules, and government banking schemes explained simply.
When Meena’s father died in 2024, his savings account named only her mother as nominee, and her mother had died two years earlier. What should have been a two-week claim turned into months of affidavits and a succession certificate. Since 1 November 2025, that gap can be closed. Under the Banking Laws (Amendment) Act, 2025,…
Two rulebooks RBI finalised on Friday, 23 October 2026, will not change your FD rate or EMI on Monday. They change how much capital your bank must hold from 1 April 2027. RBI issued final directions on the Leverage Ratio 2017 Standard and set the start date for a new way of measuring operational risk…
Your cousin in Dubai earns in dirhams, your uncle in New Jersey in dollars, and both ask the same question every few years: should we keep our savings in India, and if so, in rupees or not? An FCNR deposit is the answer many Indian banks are pushing hard this year. Two private banks alone…
Depositors of Suri Friends’ Union Co-operative Bank Ltd in Birbhum district, West Bengal, will live with RBI’s restrictions for at least three more months. RBI said on Thursday, 22 October 2026, that it has extended its Section 35A directions on the bank until the close of business on 22 January 2027, subject to review. The…
Take Meera, a hypothetical 38-year-old teacher in Pune. Say she got an SMS from her bank last week saying her home loan rate was going up by 0.25 percentage points after RBI’s October rate hike. It said her tenure would be extended. She had not been asked. Under RBI’s rules for floating rate loans, she…
Miss an EMI and two things can happen: the lender charges you for the default, and the missed amount keeps earning interest. Until 2024 many lenders did the first part by adding “penal interest” of 2% a year or more on top of your loan rate. RBI ended that. Since 1 January 2024, lenders can…
What happens to a fixed deposit on the day it matures if you do nothing? Many depositors assume the bank keeps paying the same rate. Often it does not. Under RBI’s rules, a matured FD left unpaid earns interest at the savings account rate or the original FD rate, whichever is lower, unless you have…
₹5,000. From the close of business on Wednesday, 21 October 2026, that is the most a depositor of Puducherry Co-operative Urban Bank Ltd can withdraw from all their accounts put together. RBI announced the curbs in a press release today, issuing directions under Section 35A of the Banking Regulation Act for six months, until 21…
Date, name, amount in words, amount in figures, signature. Five fields, and a mistake in any one of them can send a cheque back unpaid. If you only occasionally write a cheque for rent, school fees or a deposit, it is easy to forget the rules that matter under the Cheque Truncation System (CTS), which…
Two years without a single transaction you started yourself. Under RBI’s rules, that is all it takes for a savings or current account to become an inoperative account. Interest still gets credited and your money is safe, but you cannot withdraw it until you reactivate the account. The good news: RBI says banks cannot charge…