AINEWS24X7
Business
State Bank of India will change the way monthly free withdrawals are counted for Basic Savings Bank Deposit account holders from October 1, 2026. Cash withdrawals beyond the first four in a month will cost Rs 15 plus GST per transaction, with digital transactions included in the revised count.
Business
The 8th Pay Commission is continuing consultations with employee unions, pensioner groups and other stakeholders. Meetings are scheduled in Jaipur, Chandigarh, Puducherry and Chennai, while the commission has also updated its consultant engagement guidelines. No final decision has yet been announced on salaries, pensions, the fitment factor or a revised pay structure.
Business
In the first quarter, foreign funds with large holdings navigated volatility in Indian equities, keeping faith in local equities while outperforming key benchmarks. The trend highlights continued confidence from foreign investors despite market swings, with notable gains among leading fund managers and portfolio holders.
Business
Government backing for FCNR(B) deposits has unlocked higher rates for Non-Resident Indians, Overseas Citizens of India and Persons of Indian Origin. Banks are now advertising elevated returns on 3- to 5-year FD tenures in foreign currencies, led by USD deposits and backed by a guarantee that hedging costs will be borne until September 30, 2026.
Business
The Union government has detailed four major steps undertaken by the Employees’ Provident Fund Organisation to resolve pending higher-pension applications under the Employees’ Pension Scheme. The measures follow a Supreme Court ruling and are aimed at speeding verification, enabling online options, directing regional offices, and maintaining ongoing monitoring, while noting no nationwide deadline has been set.
