How are fixed deposit rates calculated in a leap year? Here’s how banks handle the extra day
Financial Literacy News: Learn how fixed deposit rates are calculated in a leap year and how different banks handle the extra day. Bank of Baroda, Jana Small Finance Bank, Au Small Finance Bank, IDFC FIRST Bank, and HDFC Bank are some of the banks mentioned in the article. Key Points
Times Of IndiaInstallation of rooftop solar units now easier & quicker
The government has amended the electricity rules to exempt households from a technical feasibility study for power systems up to 10 kW capacity. Consumers can obtain separate electricity connections for charging electric vehicles. The time frame for obtaining a new electricity connection has been reduced. An additional meter will be installed for verifying consumption and ensuring accuracy in billing. Key Points
Economic TimesGovt tweaks electricity Act to promote EVs and solar panels. Check details
The Indian government, led by Union minister R. K. Singh, has made changes to the electricity act to promote electric vehicles and solar energy. The amendments facilitate easier installation of rooftop solar systems, separate electricity connections for EVs, and reduced waiting periods for new connections. Key Points
Economic TimesIndia Inc using various ploys on payments to small businesses for dodging tax impact
The new law under Section 43B(h) of the Income Tax Act, which mandates payment to micro and small enterprises (MSEs) within 45 days of delivery to claim deductions, is causing concern and leading to various strategies by businesses and vendors to mitigate its impact. Some companies are attempting to avoid the law's impact by sending letters to vendors without expecting responses, while others are issuing post-dated cheques or raising objections within 15 days of delivery to delay payment obligations. Key Points
Economic TimesUp to 8% FD interest: These two banks revise fixed deposit rates; know new rates
Bank fixed deposit: Up to 8% interest rate is offered by some banks on select tenure of fixed deposit (FD). The rates are effective from February 1, 2024 and are for FDs of value less than Rs 2 crore. Read here to know the latest FD rate of Karur Vysya Bank and Karnataka Bank and what are interest rates offered. Key Points
Economic Times
'Gyanvapi verdict a violation of Places of Worship Act': Asaduddin Owaisi
“This is violation of Places of Worship Act… Ordered to open the grills within 7 days. 30 days should have been given to make an appeal…” Owaisi said. | Latest News India Key Points
Hindustan TimesThese two banks revise FD interest rates; offer up to 8% interest
Bank FD rates: Up to 8% interest rate is offered by some banks on an fixed deposit (FD). The rates are effective from January 20, 2024 and are for FDs of value less than Rs 2 crore. Read here to know the latest FD rate of Union Bank and Karnataka Bank and what are interest rates offered. Key Points
Economic TimesFD rate calculation: How is fixed deposit interest rate calculated in a leap year
Leap years are those that occur every four years and have 366 days as compared to 365. There are 29 days in February this year. Key Points
Economic Times'Cold day' conditions to persist in UP, Haryana, Punjab for next 2 days
Dense to very dense fog is expected to continue over northwest and East India during the next three days and gradually decrease thereafter. In Punjab, the dense fog is likely to persist in some parts till January 5. Key Points
India Today'Cold day' warning in Delhi for 2 days, dense fog to engulf north India
Cold weather conditions are likely to continue in North India with dense fog likely to cover most states including Delhi, Haryana, Punjab, Uttarakhand and Uttar Pradesh for the next two days. The weather department also issued a "cold-day" alert and said "dense to very dense fog" is likely to be witnessed in Delhi-NCR for the next two days. Key Points
India Today
Bank of Baroda hikes FD interest rates on various tenors by up to 125 bps: Check details
Bank of Baroda has hiked fixed deposit interest rates from 10 basis points (bps) to up to 125 bps on various maturity buckets. These rates are applicable on deposits below Rs 2 crore and effective from December 29, 2023. Key Points
Economic TimesSBI hikes FD interest rates by up to 50 bps; check latest fixed deposit rates here
The State Bank of India (SBI) has hiked the FD interest rates after almost 10 months. The last time the bank hiked the SBI FD rates in February 2023. Read on to know the latest rates on fixed deposits offered by SBI. Key Points
Economic TimesZoya Akhtar, Shah Rukh Khan’s daughter Suhana Khan’s The Archies Movie Review | Netflix
A feel good film which will take you back to your childhood days. Set in the 60s, Zoya Akhtar & Reema Kagti have done a fantastic job in making the 90s teenagers feel nostalgic. The Archies is scheduled for release on Netflix on 7 December Key Points
FirstpostLatest FD rates: ICICI Bank, HDFC Bank revise interest rates on these fixed deposits
ICICI Bank has revised its fixed deposit (FD) interest rates for amounts above Rs 2 crore but less than Rs 5 crore. Similarly, HDFC Bank has also revised its FD rates for amounts more than Rs 5 crore. Read below to know the latest FD interest rates for ICICI Bank and HDFC Bank. Key Points
Economic TimesIBC recoveries declining, resolution timelines getting prolonged: Crisil
The introduction of India's bankruptcy law has positively influenced the credit culture, but Crisil Ratings reveals a decline in recoveries and prolonged resolution timelines. Recovery rates fell to 32% in September 2023, from 43% in March 2019, while average resolution time increased from 324 to 653 days, surpassing the stipulated 330 days. Key Points
Economic Times
Yes Bank premature withdrawal penalty on FDs hiked to up to 1%; Check details
Yes Bank has increased the penalty for premature withdrawal from fixed deposits worth less than Rs 5 crore. The new penalty rates took effect on November 3, 2023, according to the Yes Bank website. Key Points
Economic TimesJammu and Kashmir Bank hikes fixed deposit rates. Check latest FD interest rates here
J&K Bank raises interest rates on Fixed Deposits, providing 3.5% to 7.50% for different periods. Senior citizens can avail an additional 0.50% interest Key Points
mintIDBI Bank revises fixed deposit rates; extends validity for special FD scheme. Latest rates here
IDBI Bank has extended the validity of special fixed deposit (FD) schemes, offering interest rates of 7.10% for the general public and 7.60% for senior citizens on a special maturity bucket of 375 days Key Points
mintUp to 8% FD interest rate: These 2 banks’ special FDs with higher rates will close on October 31
Indian Bank and IDBI Banks special fixed deposits with higher interest rates will end this month. These 2 banks special FDs with higher rates will close on October 31. Key Points
Economic TimesRajasthan, Assam to Telangana, states write to Modi govt seeking more work days under MGNREGS
Six months into FY24, many states have either exceeded or sanctioned over 90% of their work days under programme, it is learnt. Some have also sought review of their labour budget. Key Points
ThePrint
20K again on Nifty next week; 5 stocks we will continue to buy for next 10 days: Sanjiv Bhasin
Sanjiv Bhasibelieves that Dixon has already seen a significant increase in price, but the shift towards electronic manufacturing services is still favorable in the long-term. Regarding Avenue Supermarts, Bhasin thinks Trent is a better investment than DMart. He also mentions the potential for gains in Reliance Industries due to record retail sales and increased demand for distillate OTC chemicals. Key Points
Economic Times1,000-point milestones: Sensex took just 9 days to climb 66K ladder
The previous 1,000-point milestone from 64,000 to 65,000 was achieved in just 3 trading sessions. The two peaks of 63,000 and 64,000 had taken 278 days and 144 days, respectively. Key Points
Economic TimesFocus of rain-battered North India shifts to relief, rescue
The Indian Meteorological Department has warned that Shimla, Sirmaur and Kinnaur districts of Himachal may experience moderate-to-high flash floods in the next few days. According to state authorities, 31 people have been killed in three days in landslides and floods, which blocked nearly 1,300 roads and damaged 40 major bridges. Key Points
Economic TimesFlash drive: Meet Emil George, of the fastest solo car expedition across India
He grew up dreaming of a life of rugged jeeps and rutted roads. Now 35 and a businessman dealing in car parts, he just set a new record on the road. Key Points
Hindustan TimesFlash drive: Meet Emil George, of the fastest solo car expedition aross India
He grew up dreaming of a life of rugged jeeps and rutted roads. Now 35 and a businessman dealing in car parts, he just set a new record on the road. Key Points
Hindustan Times
Monsoon update: Heavy rainfall, thunderstorm likely in these states; Check out
IMD has predicted heavy to very heavy rainfall over various parts of the country. However, heat waves are likely to prevail in some parts for next five days. | Latest News India Key Points
Hindustan TimesIMD issues orange alert for Odisha, coastal Andhra, heat wave expected in Delhi NCR during next 3 days
The heat wave conditions are prevailing in Bihar, Jharkhand, Odisha and West Bengal. For this the IMD had issued an orange alert in these regions. Coastal Andhra Pradesh and Telangana are also coming under the influence of heatwave. Heatwave also expected for the next 2 to 3 days in southern Uttar Pradesh and NCR Delhi, as well as the South Haryana region at some isolated places. Key Points
Economic TimesDubai Visit Visa: UAE scraps 10-day grace period for visitors
Tourists visiting UAE will no longer be entitled to a 10-day grace period to exit the country after their visa expires. Once the visa has expired, they will have to pay a fine of AED50 ($13.60) per day for overstaying, with additional charges for exit permits. Previously, anyone who stayed beyond the validity of their visa was allowed a grace period of ten days to leave the country before fines were levied. Key Points
Economic TimesLatest PNB FD interest rates after it raises FD rate on one tenor, cuts for another
PNB has increased interest rates of select fixed deposits (FDs) on certain tenures and has reduced rates on certain tenures. The new rates are effective from May 18, 2023, according to the PNB website. Key Points
Economic TimesStartup and MSME M&As to be cleared within 15-60 days
M&As in startup and MSME sectors will now be able to secure approval within 15 days that can go up to a maximum of 60 days, a corporate affairs ministry (MCA) notification said. The move is seen as a big boost for the startup sector that has seen a rise in corporate restructuring in recent times. Key Points
Economic Times
Dilip Joshi shares his ‘Balika Vadhu type’ love story: ‘Got engaged when my wife was 14, I was 18’
Dilip Joshi said that his wife was only fourteen and he was eighteen when they got engaged. They got married four years later. Key Points
The Indian ExpressDhanlaxmi Bank revises FD interest rates: Check new rates
The bank has revised its interest rates on deposits, which now range from 3.25% to 7.25% for maturities of 7 days to 10 years, according to the bank's official website. Key Points
Economic TimesHeatwave conditions abate over east India, IMD predicts rainfall for THESE states for next 3 days
Heat wave conditions subsided over Bihar, West Bengal and Odisha owing to a western disturbance and a cyclonic circulation over Uttar Pradesh, the India Meteorological Department (IMD) said on Friday. Check the latest weather forecast here. Key Points
India TodayFD interest rate up to 7.8%: RBL Bank launches digital fixed deposit
RBL Bank has introduced a Digital Fixed Deposit (FD) scheme for new bank customers. Now open a savings account with the bank without going to a bank branch and book the Digital FD in a matter of minutes. Key Points
Economic TimesHeat wave to persist in east India, relief likely in northwestern plains soon: IMD
The Gangetic West Bengal and Bihar may see heat wave conditions for four days on the trot. Sikkim, Odisha and Jharkhand may also experience heat wave conditions over the next two to three days. Key Points
Financialexpress
Startup under fire for glorifying employees not sleeping
A startup was slammed after they shared how their employees have been working on no sleep for the last 30 days. Many people have shared their thoughts on the same. | Trending Key Points
Hindustan TimesBank of India increases FD interest rates by 100 bps; offers up to 7.5% interest
The increased interest rate will be applicable for fixed deposits of less than Rs 2 crore. The new rates are effective from May 26, 2023, according to the Bank of India (BOI) press release. Key Points
Economic TimesCompanies and vendors are trying to escape the impact of an Income Tax law taking effect this year
Under the law --- section 43B(h) of the Income Tax Act --- whose impact would be felt for the first time this year, a business entity failing to pay its vendors registered as `micro or ‘small (MSE) within 45 of delivery, would not get the deduction of its purchase in the year of the purchase but can claim the deduction only in the year of ‘actual payment. Thus, deduction disallowance for unpaid outstanding would increase the taxable income and tax of companies for FY24. Key Points
Economic TimesHeatwave alert: 'Stay indoors and hydrated, keep pets in shade', Karnataka issues advisory. Check all details here
Heatwave alert: KSDMA has issued advisory due to hot weather in Karnataka, recommending to stay hydrated, wearing light-coloured clothes. IMD has predicted rise in temperature in the next few days. Key Points
mintSBI hikes interest rates on FDs by up to 0.5%
The State Bank of India (SBI) has raised interest rates on certain fixed deposits (FDs) by up to 0.5% with immediate effect. Key Points
The Tribune India
Mobile number porting: 7-day wait after SIM swap from July 1
Earlier, there was 10-day waiting period after SIM swap or replacement. There will be a seven-day waiting period after the SIM swap or replacement for a... Key Points
The Tribune India