Banks may offer some fixed deposits without a premature-withdrawal option — but not for ordinary individual deposits of ₹1 crore or less. The RBI’s Interest Rate on Deposits Directions say commercial banks “shall” provide premature withdrawal facility on all term deposits accepted from individuals (singly or jointly) for amounts of ₹1 crore and below. The…
A wrong account transfer starts with a typo. RBI’s 2010 circular on electronic payments is blunt: “Being essentially credit-push in nature, responsibility for accurate input and successful credit lies with the remitting customers and the originating banks.” Destination banks credit “based solely on the beneficiary account number information.” If you type a wrong but valid…
Insurance commission rules may tighten before 25 October 2026. The Insurance Regulatory and Development Authority of India (IRDAI) has put out a public consultation paper — an IRDAI consultation — on “Recalibrating Economics of Insurance Distribution,” proposing statutory caps on commissions and expenses of management (EoM) so that payouts to distributors are less of a…
HDFC Bank CEO succession cleared on 1 October 2026: the Reserve Bank of India has approved the appointment of Anup Bagchi as Managing Director and Chief Executive Officer of HDFC Bank for a three-year term, the bank said in filings and as reported by The Hindu and The Indian Express. He is to take charge…
Sensex today rose 472.77 points, or 0.66%, to close at 72,382.47 on Monday, 5 October 2026, and the NSE Nifty 50 gained 133.80 points, or 0.60%, to 22,555.75, according to BusinessLine’s market wrap, consistent with levels on the NSE site. The session snapped an eight-week losing streak for the benchmarks, helped by softer US jobs…
The Reserve Bank of India amended its bank-shareholding directions on 1 October 2026 so that SEBI-registered mutual funds, IRDAI-registered insurers and PFRDA-registered pension funds can seek a one-time approval to rebuild a “major shareholding” of up to 10% in a bank without starting the approval process again after their stake falls below 5%. The change…
The gold rate today, Monday 5 October 2026, is finally based on IBJA’s own print. IBJA’s rates are now out. The evening (PM) fix for 24-carat (999) gold is ₹1,48,198 per 10 grams and for 999 silver ₹2,24,157 per kg, according to the AM/PM table on ibjarates.com checked at about 9:10 PM IST. That puts…
The latest benchmark gold price today, Sunday 4 October 2026, is IBJA’s closing rate from the evening of Thursday 1 October: ₹1,48,138 per 10 grams for 24-carat (999) gold and ₹2,20,829 per kg for 999 silver. The India Bullion and Jewellers Association published no rates on Friday 2 October, a central government holiday for Gandhi…
“A savings/ current account shall be treated as inoperative, if there are no ‘customer induced transactions’ in the account for a period of over two years.” That sentence from the RBI’s instructions of 1 January 2024 is where most unclaimed deposits begin. Interest credits and bank charges do not count as activity; only something you…
The most common mistake with a home loan prepayment happens at the bank counter, after the money is already arranged. Asked whether the payment should reduce the EMI or the tenure, many borrowers pick a lower EMI because it feels like immediate relief. On a typical long loan, that choice gives up most of the…