Punjab National Bank launched its festive retail-loan campaign, “PNB Utsav Festivities 2026”, on 5 October 2026. It runs from 1 October to 31 December 2026. According to the bank’s press release, home loans get a “Full waiver of upfront/processing/Documentation fees” and a “5 bps concession”, car loans get a full waiver of upfront and processing…
Under RBI’s continuous-clearing rules, a cheque presented in the Cheque Truncation System (CTS) between 9 AM and 3 PM must be confirmed or rejected by the paying bank by 7 PM the same day. After settlement, your bank must release the money “immediately, but not later than 1 hour from successful settlement”. That makes the…
UIDAI has issued a new Standard Operating Procedure for updating names in Aadhaar. The SOP was signed on 18 September 2026 by Nikhil Sinha, Director, under file number HQ-16024/4/2020-EU-I-HQ, and took effect from that date. It replaces the 28 October 2021 SOP on name and gender updates under exception handling. The key rule is in…
“There is no limit on the amount involved in a dispute that can be brought before the RBI Ombudsman.” That line is in RBI’s own FAQs on the Reserve Bank – Integrated Ombudsman Scheme, 2026 (RB-IOS 2026), which came into force on 1 July 2026. It is a good reason to file an RBI Ombudsman…
General insurers have discussed adding a 10% health insurance co-pay to inpatient claims, according to reports published on 5 and 6 October 2026. Mint, citing The Times of India, reported that it would apply from 1 January 2027, with the co-pay capped at ₹5 lakh per claim. Business Standard reported that the General Insurance Council…
₹100 for every day of delay. That is the compensation an RBI circular sets for a bank that misses its deadline to reverse a failed digital payment. The bank is supposed to pay it without the customer asking. For a failed UPI transaction refund on a person-to-person transfer, the deadline is the day after the…
The Reserve Bank of India on 5 and 6 October 2026 extended its directions on six co-operative banks by three more months, keeping their withdrawal limits in place until early January 2027. Each extension order states that “Other terms and conditions of the Directive under reference, shall remain unchanged.” For depositors, that means the co-operative…
A repo rate hike of 25 basis points does not add 0.25% to every EMI overnight. A 25-basis-point rise in the RBI’s repo rate does not add 0.25% to every EMI overnight, but on a floating-rate home loan linked to an external benchmark it usually feeds through at the next reset. On a ₹50 lakh…
The credit card billing cycle decides your float. A credit card’s interest-free period is not “up to 50 days” for every purchase you make. It is the gap between the purchase date and the payment due date that follows the next statement. Buy something a day after the statement is generated, and you may get…
A joint bank account looks simple until someone dies. “Either or Survivor” on a joint fixed deposit does not automatically let the survivor break the deposit after the other holder dies. The RBI’s clarification is specific: banks may allow that premature withdrawal only if the joint depositors gave a joint mandate for it. Without that…