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A personal loan journey is not over with the payment of the last EMI. The last and most important step remains – obtaining the No Dues Certificate from the lender. It is an essential document required to complete a lot of tasks after completely paying off the loan.<h2>What's a No Dues Certificate?</h2>After the last EMI is paid, the lender issues a letter to the borrower certifying that she has paid the loan, the interest, and all the other applicable charges, and is not liable to pay any more money. Only after the No Dues Certificate is issued that the bank formally close the loan.&nbsp;<a href="https://www.wionews.com/business-economy/key-panel-approves-elimination-of-12-and-28-gst-slabs-1755772225686">Also read: Key panel approves elimination of 12% and 28% GST slabs</a>&nbsp;All banks follow their respective format for the No Dues Certificate. However, commonly, they mention the name and the address of the borrower, the loan details, and a declaration that the loan had been fully repaid.&nbsp;After the last EMI is paid, the bank will issue the No Dues Certificate (NDC) through email, a hard copy through courier, or both.&nbsp;You must apply to the bank if the letter has not been received.&nbsp;An online application can also be applied for through the loan account details.&nbsp;<a href="https://www.wionews.com/business-economy/why-was-rapido-fined-watchdog-flags-guaranteed-auto-rs-50-ad-1755768475818">Also read: Why was Rapido fined? Watchdog flags 'Guaranteed Auto', 'Rs 50' ad</a><h2>Why is a No Dues Certificate important?</h2>NDC is the proof of loan repayment. It is a formal letter by the bank to certify that the loan has been repaid. It provides legal protection to the borrower. It also helps get the borrower's future loans.&nbsp;<a href="https://www.wionews.com/business-economy/gst-exemption-on-health-insurance-life-insurance-likely-how-will-it-impact-premiums-1755762722477">Also read: GST exemption on health insurance, life insurance likely: How will it impact premiums?</a>&nbsp;While selling your car or house, which was acquired by getting loans, you may be legally required to furnish the No Dues Certificate.

A personal loan journey is not over with the payment of the last EMI. The last and most important step remains -- obtaining the No Dues Certificate from the lender.

A personal loan journey is not over with the payment of the last EMI. The last and most important step remains – obtaining the No Dues Certificate from the lender. It is an essential document required to complete a lot of tasks after completely paying off the loan. What's a No Dues Certificate? After the last EMI is paid, the lender issues a letter to the borrower certifying that she has paid the loan, the interest, and all the other applicable charges, and is not liable to pay any more money. Only after the No Dues Certificate is issued that the bank formally close the loan. Also read: Key panel approves elimination of 12% and 28% GST slabs All banks follow their respective format for the No Dues Certificate. However, commonly, they mention the name and the address of the borrower, the loan details, and a declaration that the loan had been fully repaid. After the last EMI is paid, the bank will issue the No Dues Certificate (NDC) through email, a hard copy through courier, or both. You must apply to the bank if the letter has not been received. An online application can also be applied for through the loan account details. Also read: Why was Rapido fined? Watchdog flags 'Guaranteed Auto', 'Rs 50' ad Why is a No Dues Certificate important? NDC is the proof of loan repayment. It is a formal letter by the bank to certify that the loan has been repaid. It provides legal protection to the borrower. It also helps get the borrower's future loans. Also read: GST exemption on health insurance, life insurance likely: How will it impact premiums? While selling your car or house, which was acquired by getting loans, you may be legally required to furnish the No Dues Certificate.

No Dues Certificate is as important as paying off the last EMI for personal, house and auto loans. Here's why it is important.

Loan: What is a No Dues Certificate (NDC)? Why is it important?

The Group of Ministers, a key decision-making panel on Goods and Services Tax (GST), has approved the Centre's proposal to eliminate the 12 per cent and 28 per cent slabs. If approved by the GST Council, the reduction in the number of slabs will result in the lowering of GST on the majority of goods and services, boosting consumer spending by handing the masses more disposable income.&nbsp;Bihar Deputy Chief Minister Samrat Choudhary on Thursday confirmed that the panel&nbsp;approved the Centre's proposal. "We have supported the two proposals by the Government of India of scrapping GST slabs of 12 per cent and 28 per cent," Choudhary said after attending a meeting of the Group of Ministers (GoM) with Union Finance Minister Nirmala Sitharaman.&nbsp;The decision was arrived at after holding discussions&nbsp;with stakeholders. The GST Council will make the final decision.&nbsp;"Everyone made suggestions over the proposals made by the Centre. Some states have a few observations. This has been referred to the GST Council. The Council will make a decision," Choudhary added.&nbsp;Over 90 per cent of all goods in the 12 per cent and 28 per cent GST slabs will be moved to the 5 per cent and 18 per cent category, if the GST Council approves the recommendation. These will help the masses save GST on almost all essentials. Many goods and services, including cars and insurance, will likely become cheaper.&nbsp;West Bengal's health minister, Chandrima Bhattacharya, said he flagged the expected loss of revenue to the states.&nbsp;"All the states are with the common people, but I raised in the meeting that if the states are going to lose the revenue, then that ultimately goes back to the common people, so we want to know how we are going to be compensated. The GoM will now send its report to the GST Council with the notings of our concern we raised," the minister said.&nbsp;UP Minister Suresh Khanna said that the Centre didn't mention the loss in revenue expected to be incurred with the decision.&nbsp;Prime Minister Narendra Modi, in his Independence Day speech, announced the rationalisation of the existing GST structure.

The Group of Ministers, a key decision-making panel on Goods and Services Tax (GST), has approved the Centre's proposal to eliminate the 12 per cent and 28 per cent slabs.

The Group of Ministers, a key decision-making panel on Goods and Services Tax (GST), has approved the Centre's proposal to eliminate the 12 per cent and 28 per cent slabs. If approved by the GST Council, the reduction in the number of slabs will result in the lowering of GST on the majority of goods and services, boosting consumer spending by handing the masses more disposable income. Bihar Deputy Chief Minister Samrat Choudhary on Thursday confirmed that the panel approved the Centre's proposal. "We have supported the two proposals by the Government of India of scrapping GST slabs of 12 per cent and 28 per cent," Choudhary said after attending a meeting of the Group of Ministers (GoM) with Union Finance Minister Nirmala Sitharaman. The decision was arrived at after holding discussions with stakeholders. The GST Council will make the final decision. "Everyone made suggestions over the proposals made by the Centre. Some states have a few observations. This has been referred to the GST Council. The Council will make a decision," Choudhary added. Over 90 per cent of all goods in the 12 per cent and 28 per cent GST slabs will be moved to the 5 per cent and 18 per cent category, if the GST Council approves the recommendation. These will help the masses save GST on almost all essentials. Many goods and services, including cars and insurance, will likely become cheaper. West Bengal's health minister, Chandrima Bhattacharya, said he flagged the expected loss of revenue to the states. "All the states are with the common people, but I raised in the meeting that if the states are going to lose the revenue, then that ultimately goes back to the common people, so we want to know how we are going to be compensated. The GoM will now send its report to the GST Council with the notings of our concern we raised," the minister said. UP Minister Suresh Khanna said that the Centre didn't mention the loss in revenue expected to be incurred with the decision. Prime Minister Narendra Modi, in his Independence Day speech, announced the rationalisation of the existing GST structure.

The Group of Ministers has approved the Centre's proposal, aimed at boosting consumer spending by lowering Goods and Services Tax (GST)

Key panel approves elimination of 12% and 28% GST slabs

Next time you’re flying, double-check that window seat you paid extra for. Did you get a 'window view' or just a barren wall? Passengers on Delta and United have launched class action lawsuits that could force the airlines to cough up millions of dollars for charging extra for window seats that were without a view.<h2>Sky-high fees, ground-level delivery: What happened to Delta and United passengers?</h2>The court cases are being brought by passengers outraged at being assigned window seats with no views at all. The suits claim that the carriers knowingly scammed flyers by slapping premium price tags on seats and then failing to deliver.Carter Greenbaum of Greenbaum Olbrantz LLP, who is spearheading the lawsuits, said, “We’re seeking to hold United and Delta accountable for charging customers premiums for products they didn’t deliver.”He said the airlines sold customers window seats and ‘ended up seating them next to a wall.’<a href="https://www.wionews.com/videos/turbulence-on-the-rise-as-climate-warms-1750839919729/embed">https://www.wionews.com/videos/turbulence-on-the-rise-as-climate-warms-1750839919729/embed</a><h2>Passengers cheated of window seats: Lawsuits across the US</h2>While one lawsuit was filed in a federal New York court on Tuesday (Aug 19 ), another targets United in a federal court in San Francisco.The lawsuits claim that the airlines likely sold "more than one million" bogus window seats — knowingly placing passengers next to solid aircraft walls, air conditioning ducts, or electrical panel housings.While airlines like American and Alaska clearly disclose windowless seats during booking, Delta and United didn’t. “United and Delta could easily implement the same disclosures,” Greenbaum added.Also read: <a href="https://www.wionews.com/india-news/air-india-halts-delhi-washington-flights-from-sept-1-is-pakistan-to-be-blamed-here-s-what-we-know-1754908375727">Air India halts Delhi-Washington flights from Sept 1—Is Pakistan to be blamed? Here's what we know</a><h2>Want a window seat? That’ll be $70 – or maybe not</h2>The lawsuits claim that Delta passengers allegedly shelled out more than $70 per window seat on a basic economy ticket. United passengers, meanwhile, allegedly paid more than $50 on domestic routes, or up to $100 on international flights — all for the privilege of being stuck staring at a blank wall or bulkhead.&nbsp;Also read: &nbsp;<a href="https://www.wionews.com/india-news/air-indias-delhi-to-tel-aviv-flight-diverted-to-abu-dhabi-following-missile-attack-near-israeli-airport-9032104">Air India flight diverted to Abu Dhabi, several airlines suspend operations after missile attack near Tel Aviv Airport</a>&nbsp;The suits say Delta and United “affirmatively” marketed those as window seats. While online platforms like SeatGuru sometimes warn travellers about missing views, airlines have remained silent, according to reports.One plaintiff in New York said he coughed up cash for a window seat on a flight to California, only to discover he had “no option but to spend the ensuing four-and-a-half-hour flight next to a blank wall.”In the United case, plaintiffs paid between $45.99 and $169.99 for window seats on three separate flights.<h2>Window seats issue: Refunds, punitive damages</h2>Some affected passengers received partial refunds after filing complaints with the airlines. “We’re asking for refunds of the extra fees for everyone who paid for a window seat but didn’t get one,” Greenbaum said.Casey Olbrantz, another attorney on the case, claimed flyers affected by the deceptive practice could number “in the millions.”Also read:<a href="https://www.wionews.com/trending/owls-inspire-future-aircraft-design-as-rise-in-turbulence-scare-fliers-here-is-how-turbulence-accidents-aviation-news-flight-and-climate-change-1754031511957"> Owls inspire future aircraft design as rise in turbulence scare fliers. Here is how</a>But with these lawsuits gaining traction, those blank walls may end up costing the carriers far more than any window seat ever would.So, if you're running an airline in the US, think twice before fleecing your customers — a class action lawsuit may be coming your way. &nbsp;

Delta passengers allegedly coughed up more than $70 per window seat on economy tickets while United passengers gave between $50 and $100 for being seated near walls. Many are calling it a scam and the courts will hear the matter now

Next time you’re flying, double-check that window seat you paid extra for. Did you get a 'window view' or just a barren wall? Passengers on Delta and United have launched class action lawsuits that could force the airlines to cough up millions of dollars for charging extra for window seats that were without a view. Sky-high fees, ground-level delivery: What happened to Delta and United passengers? The court cases are being brought by passengers outraged at being assigned window seats with no views at all. The suits claim that the carriers knowingly scammed flyers by slapping premium price tags on seats and then failing to deliver. Carter Greenbaum of Greenbaum Olbrantz LLP, who is spearheading the lawsuits, said, “We’re seeking to hold United and Delta accountable for charging customers premiums for products they didn’t deliver.” He said the airlines sold customers window seats and ‘ended up seating them next to a wall.’ https://www.wionews.com/videos/turbulence-on-the-rise-as-climate-warms-1750839919729/embed Passengers cheated of window seats: Lawsuits across the US While one lawsuit was filed in a federal New York court on Tuesday (Aug 19 ), another targets United in a federal court in San Francisco. The lawsuits claim that the airlines likely sold "more than one million" bogus window seats — knowingly placing passengers next to solid aircraft walls, air conditioning ducts, or electrical panel housings. While airlines like American and Alaska clearly disclose windowless seats during booking, Delta and United didn’t. “United and Delta could easily implement the same disclosures,” Greenbaum added. Also read: Air India halts Delhi-Washington flights from Sept 1—Is Pakistan to be blamed? Here's what we know Want a window seat? That’ll be $70 – or maybe not The lawsuits claim that Delta passengers allegedly shelled out more than $70 per window seat on a basic economy ticket. United passengers, meanwhile, allegedly paid more than $50 on domestic routes, or up to $100 on international flights — all for the privilege of being stuck staring at a blank wall or bulkhead. Also read: Air India flight diverted to Abu Dhabi, several airlines suspend operations after missile attack near Tel Aviv Airport The suits say Delta and United “affirmatively” marketed those as window seats. While online platforms like SeatGuru sometimes warn travellers about missing views, airlines have remained silent, according to reports. One plaintiff in New York said he coughed up cash for a window seat on a flight to California, only to discover he had “no option but to spend the ensuing four-and-a-half-hour flight next to a blank wall.” In the United case, plaintiffs paid between $45.99 and $169.99 for window seats on three separate flights. Window seats issue: Refunds, punitive damages Some affected passengers received partial refunds after filing complaints with the airlines. “We’re asking for refunds of the extra fees for everyone who paid for a window seat but didn’t get one,” Greenbaum said. Casey Olbrantz, another attorney on the case, claimed flyers affected by the deceptive practice could number “in the millions.” Also read: Owls inspire future aircraft design as rise in turbulence scare fliers. Here is how But with these lawsuits gaining traction, those blank walls may end up costing the carriers far more than any window seat ever would. So, if you're running an airline in the US, think twice before fleecing your customers — a class action lawsuit may be coming your way.

Delta passengers allegedly coughed up more than $70 per window seat on economy tickets while United passengers gave between $50 and $100 for being seated near walls. Many are calling it a scam and the courts will hear the matter now

These airlines sold window seat tickets to flyers who were sat beside 'barren walls'. Now they're being sued for millions of dollars

Rapido, the bike-hailing service, has gained immense popularity because of its affordable rates and accessibility. The bike taxi service&nbsp;is also popular for faster transportation in traffic-afflicted cities. However, a consumer watchdog recently fined the company Rs 10 lakh for resorting to misleading advertisements to attract customers. The court found the advertisement campaigns misleading and asked the firm to immediately halt their transmission to the public. Here's what happened.&nbsp;The Central Consumer Protection Authority (CCPA), India's top consumer watchdog, slapped a fine of Rs 10 lakh. It took a suo motu note of two campaigns of the service&nbsp;-- 'Guaranteed Auto' and 'Auto in 5 minutes or get Rs 50'.&nbsp;The&nbsp;body found that the advertisement ran for around 1.5 years in 120 cities. It was published in multiple languages.&nbsp;Finding it guilty of unfair trade practices, Rapido was asked to cough up the fine.&nbsp;The authority found that many people didn't get the auto in 5 minutes and weren't paid Rs 50 as promised in the advertisement. It said such people must get the promised amount.&nbsp;"The opposite party shall ensure that any consumer who availed the “AUTO IN 5 MIN OR GET Rs 50″ offer and did not receive the promised Rs 50 compensation shall be reimbursed the said amount in full without any further delay or condition,” CCPA said.&nbsp;It said that between April 2023 and May 2024, the National Consumer Helpline had received 575 consumer complaints linked to non-refund of amounts, overcharging, and issues in services. The authority found that Rapido made no efforts to resolve the grievances.&nbsp;CCPA said in its order that Rapido displayed&nbsp;an "apathetic attitude" even though many opportunities were provided to them to negate the findings.&nbsp;&nbsp;It said to safeguard consumer interest, Rapido must be penalised for "unfair trade practice, false or misleading advertisement".

Rapido, the bike-hailing application, has gained immense popularity because of its affordable rates and accessibility. The bike taxi service is also popular for faster transportation in traffic-afflicted cities. 

Rapido, the bike-hailing service, has gained immense popularity because of its affordable rates and accessibility. The bike taxi service is also popular for faster transportation in traffic-afflicted cities. However, a consumer watchdog recently fined the company Rs 10 lakh for resorting to misleading advertisements to attract customers. The court found the advertisement campaigns misleading and asked the firm to immediately halt their transmission to the public. Here's what happened. The Central Consumer Protection Authority (CCPA), India's top consumer watchdog, slapped a fine of Rs 10 lakh. It took a suo motu note of two campaigns of the service -- 'Guaranteed Auto' and 'Auto in 5 minutes or get Rs 50'. The body found that the advertisement ran for around 1.5 years in 120 cities. It was published in multiple languages. Finding it guilty of unfair trade practices, Rapido was asked to cough up the fine. The authority found that many people didn't get the auto in 5 minutes and weren't paid Rs 50 as promised in the advertisement. It said such people must get the promised amount. "The opposite party shall ensure that any consumer who availed the “AUTO IN 5 MIN OR GET Rs 50″ offer and did not receive the promised Rs 50 compensation shall be reimbursed the said amount in full without any further delay or condition,” CCPA said. It said that between April 2023 and May 2024, the National Consumer Helpline had received 575 consumer complaints linked to non-refund of amounts, overcharging, and issues in services. The authority found that Rapido made no efforts to resolve the grievances. CCPA said in its order that Rapido displayed an "apathetic attitude" even though many opportunities were provided to them to negate the findings. It said to safeguard consumer interest, Rapido must be penalised for "unfair trade practice, false or misleading advertisement".

The Central Consumer Protection Authority fined Rapido Rs 10 lakh. It found that the bike taxi service ran a misleading advertisement campaign. Here's what CCPA told Rapido. &nbsp;

Why was Rapido fined? Watchdog flags 'Guaranteed Auto', 'Rs 50' ad

The Group of Ministers (GoMs), constituted by the GST Council on Compensation Cess, Health and Life Insurance (for individuals), and Rate Rationalisation, has proposed a complete exemption on health and life insurance for individuals. The government is mulling over doing away with the 12 per cent and 28 per cent GST slabs and replacing them with 5 per cent and 18 per cent slabs. The final decision will be taken by the council near Diwali.&nbsp;Abolishing GST on insurance premiums will likely lower the amounts paid by the insured, making insurance more affordable for Indians.&nbsp;This move, if approved, will lower the cost of the insurance and increase the disposable income. The government, however, will have to forgo substantial revenue. However, it will likely result in higher penetration.<h2>How much GST does the government levy on insurance premiums?</h2>&nbsp;The government levies 18 per cent on health and life insurance premiums. A person pays Rs 18 as tax for a premium of Rs 100, making the total amount Rs 118.&nbsp;However, businesses can reduce their tax liability by claiming a tax credit. However, if the GST is done away with, insurers would still have to incur Rs 12.6 worth of GST expenses per Rs 100 of premium. However, it will not get the Rs 18 provided by the insured. Hence, the companies can increase the premium before tax. However, the post-tax premium will still come down.&nbsp;If the insurer burdens policyholders with the tax, the premium may go up to Rs 112.6, but it will be less than the current final premium.&nbsp;<h2>How will your premium be impacted?</h2>If the companies absorb this GST burden completely, it will greatly benefit policyholders.&nbsp;"To determine if a reduction in GST rate will help policyholders, we will have to first determine whether health and life insurance services are going to be considered as Nil Rated or will they be considered as exempt from GST. The answer to this will determine the eligibility for input tax credit. In case the services are considered as exempt, then input tax credit will not be available, and therefore, the savings on account of GST rate reduction will be negated by the hike in premiums due to unavailability of credit," Hemik Shah, co-founder of Qian Insurance, told ET.&nbsp;In the absence of ITC, it seems unlikely that insurance companies will be able to pass on the benefits, he added.

The Group of Ministers (GoMs), constituted by the GST Council on Compensation Cess, Health and Life Insurance (for individuals), and Rate Rationalisation, has proposed a complete exemption on health and life insurance for individuals. 

The Group of Ministers (GoMs), constituted by the GST Council on Compensation Cess, Health and Life Insurance (for individuals), and Rate Rationalisation, has proposed a complete exemption on health and life insurance for individuals. The government is mulling over doing away with the 12 per cent and 28 per cent GST slabs and replacing them with 5 per cent and 18 per cent slabs. The final decision will be taken by the council near Diwali. Abolishing GST on insurance premiums will likely lower the amounts paid by the insured, making insurance more affordable for Indians. This move, if approved, will lower the cost of the insurance and increase the disposable income. The government, however, will have to forgo substantial revenue. However, it will likely result in higher penetration. How much GST does the government levy on insurance premiums? The government levies 18 per cent on health and life insurance premiums. A person pays Rs 18 as tax for a premium of Rs 100, making the total amount Rs 118. However, businesses can reduce their tax liability by claiming a tax credit. However, if the GST is done away with, insurers would still have to incur Rs 12.6 worth of GST expenses per Rs 100 of premium. However, it will not get the Rs 18 provided by the insured. Hence, the companies can increase the premium before tax. However, the post-tax premium will still come down. If the insurer burdens policyholders with the tax, the premium may go up to Rs 112.6, but it will be less than the current final premium. How will your premium be impacted? If the companies absorb this GST burden completely, it will greatly benefit policyholders. "To determine if a reduction in GST rate will help policyholders, we will have to first determine whether health and life insurance services are going to be considered as Nil Rated or will they be considered as exempt from GST. The answer to this will determine the eligibility for input tax credit. In case the services are considered as exempt, then input tax credit will not be available, and therefore, the savings on account of GST rate reduction will be negated by the hike in premiums due to unavailability of credit," Hemik Shah, co-founder of Qian Insurance, told ET. In the absence of ITC, it seems unlikely that insurance companies will be able to pass on the benefits, he added.

GST exemption on health, life insurance proposed: The extent of benefits passed on to the insured will largely depend on the companies. Here's how.&nbsp;

GST exemption on health insurance, life insurance likely: How will it impact premiums?

India has surpassed China in terms of smartphone exports to the United States, marking a major and significant achievement in the manufacturing journey of the country, as per the statement by PIB, citing research firm Canalys. The post noted that schemes such as the Make in India initiative and the Production Linked Incentive (PLI) have played a significant role in reshaping the electronics sector.&nbsp;"As a result of schemes like Make in India and PLI, India is now moving at a new pace in those industrial sectors in which it was never even considered a key manufacturer before. According to a report by research firm Canalys, in the second quarter of this calendar year, i.e., April-June, India has also overtaken China in terms of smartphones exported to the US," the government said in a statement.&nbsp;The government stated that the share of Made in India smartphones in US imports accounted for 44 per cent during April-June 2025 against 13 per cent in the same quarter of 2024. In the meantime, the share of China dropped to just 25 per cent from 61 per cent a year in the same period.&nbsp;As per the India Cellular &amp; Electronics Association, the mobile phone manufacturing industry of India has grown from ₹18,900 crore in FY15 to ₹5,45,000 crore in FY25. Meanwhile, exports of mobile phones have also crossed the ₹2 lakh crore mark, positioning India second in terms of the largest phone maker globally.

The union government said the share of Made in India smartphones in US imports rose to 44 per cent during April-June 2025 against 13 per cent in the same quarter of 2024. And the share of China for the smartphone exports dropped to just 25 per cent from 61 per cent in the same period.

India has surpassed China in terms of smartphone exports to the United States, marking a major and significant achievement in the manufacturing journey of the country, as per the statement by PIB, citing research firm Canalys. The post noted that schemes such as the Make in India initiative and the Production Linked Incentive (PLI) have played a significant role in reshaping the electronics sector. "As a result of schemes like Make in India and PLI, India is now moving at a new pace in those industrial sectors in which it was never even considered a key manufacturer before. According to a report by research firm Canalys, in the second quarter of this calendar year, i.e., April-June, India has also overtaken China in terms of smartphones exported to the US," the government said in a statement. The government stated that the share of Made in India smartphones in US imports accounted for 44 per cent during April-June 2025 against 13 per cent in the same quarter of 2024. In the meantime, the share of China dropped to just 25 per cent from 61 per cent a year in the same period. As per the India Cellular & Electronics Association, the mobile phone manufacturing industry of India has grown from ₹18,900 crore in FY15 to ₹5,45,000 crore in FY25. Meanwhile, exports of mobile phones have also crossed the ₹2 lakh crore mark, positioning India second in terms of the largest phone maker globally.

The union government said the share of Made in India smartphones in US imports rose to 44 per cent during April-June 2025 against 13 per cent in the same quarter of 2024. And the share of China for the smartphone exports dropped to just 25 per cent from 61 per cent in the same period.

Amid tariff tension, India defeats China in THIS key export to Trump-led US — FULL DETAILS

Post-retirement days can be one of the best times in life, as senior citizens are often free from many responsibilities. Additionally, senior citizens have the time to pursue what they have always wanted to do, but couldn't due to their responsibilities towards their children, family, and work. However, they must be financially free to achieve their post-retirement life goals. Their retirement corpus should provide them with a safety net, fulfil their monetary need, and achieve growth so that they have enough money all their lives. Here are some savings instruments for senior citizens.<h2>Senior Citizens Savings Scheme (SCSS)</h2>This scheme provides good interest rates for individuals over the age of 60. It pays quarterly interest and has a 5-year lock-in period. It carries an income tax benefit. The upper limit of the deposit is Rs 30 lakh. The lower limit is Rs 1000. Spouses can also open a combined account. The annual return is an impressive 8.2 per cent. The tenure of the scheme can be extended to three years.<h2>Post Office Monthly Income Scheme (POMIS)</h2>The second most important scheme is the Post Office Monthly Income Scheme. It provides an income at an annual rate of 7.4 per cent and is exempt from TDS. An individual can invest as much as Rs 9 lakh. In a joint account, one can invest Rs 15 lakh. An investment of Rs 15 lakh can give a person Rs 9250 every month. If you are an individual account holder, you can get up to Rs 5500. The tenure of this scheme is five years.<h2>Senior Citizens Bank Fixed Deposits (FDs)</h2>Bank FDs are a safe savings option for most, but they are infamous for giving comparatively lower returns. However, senior citizens can get around .25 per cent to 0.75 per cent&nbsp;higher returns than others. The payout can be accepted monthly, quarterly, or yearly, or at maturity.<h2>Systematic Withdrawal Plan From Mutual Funds</h2>Senior citizens can also withdraw a fixed amount from their mutual fund investments. It is a flexible way to generate retirement income. It is ideal for those who have a lump-sum savings and can tolerate some level of market risk. Lower risk funds can provide returns between 6-10 per cent.<h2>Senior Citizen Annuity Plans</h2>Senior citizens can also invest their savings into a regular income scheme, also known as annuity plans. The interest rates generally are 6-7 per cent. They provide a steady fixed pension for life.

Post-retirement days can be one of the best times in life, as senior citizens are often free from many responsibilities. Additionally, senior citizens have the time to pursue what they have always wanted to do, but couldn't due to their responsibilities towards their children, family, and work.

Post-retirement days can be one of the best times in life, as senior citizens are often free from many responsibilities. Additionally, senior citizens have the time to pursue what they have always wanted to do, but couldn't due to their responsibilities towards their children, family, and work. However, they must be financially free to achieve their post-retirement life goals. Their retirement corpus should provide them with a safety net, fulfil their monetary need, and achieve growth so that they have enough money all their lives. Here are some savings instruments for senior citizens. Senior Citizens Savings Scheme (SCSS) This scheme provides good interest rates for individuals over the age of 60. It pays quarterly interest and has a 5-year lock-in period. It carries an income tax benefit. The upper limit of the deposit is Rs 30 lakh. The lower limit is Rs 1000. Spouses can also open a combined account. The annual return is an impressive 8.2 per cent. The tenure of the scheme can be extended to three years. Post Office Monthly Income Scheme (POMIS) The second most important scheme is the Post Office Monthly Income Scheme. It provides an income at an annual rate of 7.4 per cent and is exempt from TDS. An individual can invest as much as Rs 9 lakh. In a joint account, one can invest Rs 15 lakh. An investment of Rs 15 lakh can give a person Rs 9250 every month. If you are an individual account holder, you can get up to Rs 5500. The tenure of this scheme is five years. Senior Citizens Bank Fixed Deposits (FDs) Bank FDs are a safe savings option for most, but they are infamous for giving comparatively lower returns. However, senior citizens can get around .25 per cent to 0.75 per cent higher returns than others. The payout can be accepted monthly, quarterly, or yearly, or at maturity. Systematic Withdrawal Plan From Mutual Funds Senior citizens can also withdraw a fixed amount from their mutual fund investments. It is a flexible way to generate retirement income. It is ideal for those who have a lump-sum savings and can tolerate some level of market risk. Lower risk funds can provide returns between 6-10 per cent. Senior Citizen Annuity Plans Senior citizens can also invest their savings into a regular income scheme, also known as annuity plans. The interest rates generally are 6-7 per cent. They provide a steady fixed pension for life.

Post-retirement plans for senior citizens must provide a fixed income without jeopardising the safety of their investments. On World Senior Citizens' Day, here's a list of some financial instruments to achieve that financial goals.

World Senior Citizens' Day 2025: Savings plan for your parents with regular monthly income

India’s Enforcement Directorate (ED) has mounted a sweeping investigation into companies linked to Anil Ambani, with searches across dozens of sites, marathon questioning and fresh regulatory heat from SEBI. The probe spans alleged loan diversion, bogus guarantees and suspected laundering routed through a web of entities. Below is a clear, narrative explainer pulling together what is known so far, with every core fact attributed to credible outlets.<h2>All about ED's probe on Anil Ambani</h2>On July 24, 2025, India’s financial crime agency prepared a coordinated operation targeting more than 35 premises tied to the Reliance Group, covering 50 companies and 25+ individuals, as per a government source cited by Reuters. The focus: suspected money laundering connected to group entities. Within days, the ED searched over 35 locations in Mumbai and elsewhere linked to Ambani-associated entities, part of a case built on prior FIRs alleging siphoning of public money. The Times of India reported investigators suspect a diversion in the ₹20,000–₹30,000 crore range (approx. $2.3–$3.4 billion).&nbsp;As the probe widened, ANI reported the ED is examining whether funds at Reliance Home Finance (RHFL) and Reliance Commercial Finance (RCFL) were routed to Reliance Infrastructure and Reliance Power, contrary to stated purposes. Investigators have sought loan details from about 20 banks while grilling multiple senior executives. The overall case under the ED lens is pegged at ₹17,000 crore ( $2.0 billion).&nbsp; After the July raids phase, the ED summoned Anil Ambani; he appeared on August 5, 2025 and faced hours of questioning under PMLA, as per ANI. This comes after the central agency issued a Look-Out Circular (LOC) to prevent his travel abroad while the probe proceeds, as reported by ANI.&nbsp;&nbsp;The follow-up rounds of questioning for close aides, and that Ambani reportedly sought time to submit documents, while company statements have stressed cooperation with authorities. In a related company communication cited by ET, Reliance Power and Reliance Infrastructure said ED raid actions at their premises had concluded, with officials fully cooperating.&nbsp;<h2>SEBI rejects settlement bid</h2>Adding pressure on the group, SEBI has rejected a settlement plea by Anil Ambani and his son tied to Reliance Mutual Fund’s 2016–2019 investments in Yes Bank’s AT-1 bonds. Reuters reported the regulator’s documents alleged the ₹2,150 crore (≈ $245 million) AT-1 exposure was intertwined with loans Yes Bank extended to other Ambani-group entities and that investors suffered estimated losses of ₹1,828 crore (≈ $208.4 million) after the 2020 write-off. Reuters said SEBI has shared its findings with the ED for potential action.&nbsp;<h2>How big is the risk for the group now?</h2>Taken together, the ED’s ₹17,000 crore (≈ $2.0 billion) loan-diversion probe, the ₹68.2 crore (≈ $7.8 million) fake-guarantee strand, and SEBI’s findings tied to Yes Bank’s AT-1 bonds present a multi-pronged legal challenge. The ED operation has already spanned 35 plus sites, with ongoing analysis of inter-company flows and financing structures, as per Reuters. Company statements quoted by the Economic Times say group entities are cooperating.&nbsp;&nbsp;<h2>The SECI ‘fake guarantee’ strand</h2>A parallel ED line of inquiry involves a bogus bank guarantee of ₹68.2 crore ($7.8 million) allegedly submitted to the Solar Energy Corporation of India (SECI). Economic Times reports the document purportedly impersonated SBI communications and referenced entities including Reliance NU BESS Ltd and Maharashtra Energy Generation Ltd. Arrests have followed in this strand of the probe, according to the outlet’s reporting.&nbsp;&nbsp;(With inputs from the agencies)&nbsp;

Key financial entities like Reliance Home Finance are being scrutinised. Additionally, SEBI rejected a settlement bid involving ₹2,150 crore related to Yes Bank's AT-1 bonds. 

India’s Enforcement Directorate (ED) has mounted a sweeping investigation into companies linked to Anil Ambani, with searches across dozens of sites, marathon questioning and fresh regulatory heat from SEBI. The probe spans alleged loan diversion, bogus guarantees and suspected laundering routed through a web of entities. Below is a clear, narrative explainer pulling together what is known so far, with every core fact attributed to credible outlets. All about ED's probe on Anil Ambani On July 24, 2025, India’s financial crime agency prepared a coordinated operation targeting more than 35 premises tied to the Reliance Group, covering 50 companies and 25+ individuals, as per a government source cited by Reuters. The focus: suspected money laundering connected to group entities. Within days, the ED searched over 35 locations in Mumbai and elsewhere linked to Ambani-associated entities, part of a case built on prior FIRs alleging siphoning of public money. The Times of India reported investigators suspect a diversion in the ₹20,000–₹30,000 crore range (approx. $2.3–$3.4 billion). As the probe widened, ANI reported the ED is examining whether funds at Reliance Home Finance (RHFL) and Reliance Commercial Finance (RCFL) were routed to Reliance Infrastructure and Reliance Power, contrary to stated purposes. Investigators have sought loan details from about 20 banks while grilling multiple senior executives. The overall case under the ED lens is pegged at ₹17,000 crore ( $2.0 billion). After the July raids phase, the ED summoned Anil Ambani; he appeared on August 5, 2025 and faced hours of questioning under PMLA, as per ANI. This comes after the central agency issued a Look-Out Circular (LOC) to prevent his travel abroad while the probe proceeds, as reported by ANI. The follow-up rounds of questioning for close aides, and that Ambani reportedly sought time to submit documents, while company statements have stressed cooperation with authorities. In a related company communication cited by ET, Reliance Power and Reliance Infrastructure said ED raid actions at their premises had concluded, with officials fully cooperating. SEBI rejects settlement bid Adding pressure on the group, SEBI has rejected a settlement plea by Anil Ambani and his son tied to Reliance Mutual Fund’s 2016–2019 investments in Yes Bank’s AT-1 bonds. Reuters reported the regulator’s documents alleged the ₹2,150 crore (≈ $245 million) AT-1 exposure was intertwined with loans Yes Bank extended to other Ambani-group entities and that investors suffered estimated losses of ₹1,828 crore (≈ $208.4 million) after the 2020 write-off. Reuters said SEBI has shared its findings with the ED for potential action. How big is the risk for the group now? Taken together, the ED’s ₹17,000 crore (≈ $2.0 billion) loan-diversion probe, the ₹68.2 crore (≈ $7.8 million) fake-guarantee strand, and SEBI’s findings tied to Yes Bank’s AT-1 bonds present a multi-pronged legal challenge. The ED operation has already spanned 35 plus sites, with ongoing analysis of inter-company flows and financing structures, as per Reuters. Company statements quoted by the Economic Times say group entities are cooperating. The SECI ‘fake guarantee’ strand A parallel ED line of inquiry involves a bogus bank guarantee of ₹68.2 crore ($7.8 million) allegedly submitted to the Solar Energy Corporation of India (SECI). Economic Times reports the document purportedly impersonated SBI communications and referenced entities including Reliance NU BESS Ltd and Maharashtra Energy Generation Ltd. Arrests have followed in this strand of the probe, according to the outlet’s reporting. (With inputs from the agencies)

The probe centers on alleged money laundering, loan diversion of ₹20,000–₹30,000 crore, and bogus guarantees.

ED’s crackdown on Anil Ambani: Inside the loan fraud and money-laundering probe

The top 7 weakest currencies in the world in 2025, including the Lebanese Pound, Iranian Rial, and more. Learn why Indonesia’s Rupiah and Uzbekistan’s Som also rank among the lowest-valued currencies.

The top 7 weakest currencies in the world in 2025, including the Lebanese Pound, Iranian Rial, and more. Learn why Indonesia’s Rupiah and Uzbekistan’s Som also rank among the lowest-valued currencies.

Top 7 Weakest Currencies in the World 2025 – From Lebanon to Uzbekistan

New Delhi: Finance Minister Nirmala Sitharaman on Wednesday addressed the Group of Ministers (GoMs) constituted by the GST Council on Compensation Cess, Health and Life Insurance (for individuals), and Rate Rationalisation at Vigyan Bhawan.&nbsp;"Everyone expressed that Life and Health Insurance (for individuals) should be exempted from GST. The GST Council will decide," said Bihar Deputy CM Samrat Choudhary, who was present at the meeting.&nbsp;Telangana Deputy CM Mallu Bhatti Vikramarka also confirmed that the GoM proposed a complete exemption on health and life insurance for individuals.&nbsp;Currently, both health and life insurance policy premiums attract 18 per cent GST.&nbsp;During the meeting, the Union Finance Minister emphasised that the proposal by the Central Government is with a vision to usher in the next generation of GST reforms in India's journey towards becoming Atmanirbhar Bharat.&nbsp;Union Minister of State for Finance, Chief Minister of Goa, Deputy CM of Bihar, and Finance Ministers of States in the three GoMs were also present at the meeting.&nbsp;The next GST Council meeting is likely to be held next month, in September.&nbsp;These reforms, proposed by the Central Government to the GoMs, are based on three key pillars.&nbsp;&nbsp;Structural reforms: The reforms will correct inverted duty structures to cut input tax credit accumulation and boost domestic value addition, resolve classification issues for simpler compliance and fewer disputes, and ensure stability &amp; predictability in GST policy to strengthen industry confidence and long-term planning.&nbsp;Rate rationalisation: The rate rationalisation exercise aims at providing greater relief to the common man, farmers, the middle class, and MSMEs, while ensuring a simplified, transparent, and growth-oriented tax regime. This would enhance affordability, boost consumption, and make essential and aspirational goods more accessible to a wider population.&nbsp;Ease of living: The upcoming GST reforms will ensure seamless, tech-driven, and time-bound registration, introduce pre-filled returns to reduce errors and mismatches, and enable faster, automated refunds, all aimed at simplifying compliance, supporting businesses, and enhancing the overall ease of living and doing business.&nbsp;"The Central Government remains committed to building a broad-based consensus with the States in the coming weeks to implement the next generation of GST reforms in the spirit of cooperative federalism," the Ministry of Finance posted on X.

Finance Minister Nirmala Sitharaman on Wednesday addressed the Group of Ministers (GoMs) constituted by the GST Council on Compensation Cess, Health and Life Insurance (for individuals), and Rate Rationalisation at Vigyan Bhawan.

New Delhi: Finance Minister Nirmala Sitharaman on Wednesday addressed the Group of Ministers (GoMs) constituted by the GST Council on Compensation Cess, Health and Life Insurance (for individuals), and Rate Rationalisation at Vigyan Bhawan. "Everyone expressed that Life and Health Insurance (for individuals) should be exempted from GST. The GST Council will decide," said Bihar Deputy CM Samrat Choudhary, who was present at the meeting. Telangana Deputy CM Mallu Bhatti Vikramarka also confirmed that the GoM proposed a complete exemption on health and life insurance for individuals. Currently, both health and life insurance policy premiums attract 18 per cent GST. During the meeting, the Union Finance Minister emphasised that the proposal by the Central Government is with a vision to usher in the next generation of GST reforms in India's journey towards becoming Atmanirbhar Bharat. Union Minister of State for Finance, Chief Minister of Goa, Deputy CM of Bihar, and Finance Ministers of States in the three GoMs were also present at the meeting. The next GST Council meeting is likely to be held next month, in September. These reforms, proposed by the Central Government to the GoMs, are based on three key pillars. Structural reforms: The reforms will correct inverted duty structures to cut input tax credit accumulation and boost domestic value addition, resolve classification issues for simpler compliance and fewer disputes, and ensure stability & predictability in GST policy to strengthen industry confidence and long-term planning. Rate rationalisation: The rate rationalisation exercise aims at providing greater relief to the common man, farmers, the middle class, and MSMEs, while ensuring a simplified, transparent, and growth-oriented tax regime. This would enhance affordability, boost consumption, and make essential and aspirational goods more accessible to a wider population. Ease of living: The upcoming GST reforms will ensure seamless, tech-driven, and time-bound registration, introduce pre-filled returns to reduce errors and mismatches, and enable faster, automated refunds, all aimed at simplifying compliance, supporting businesses, and enhancing the overall ease of living and doing business. "The Central Government remains committed to building a broad-based consensus with the States in the coming weeks to implement the next generation of GST reforms in the spirit of cooperative federalism," the Ministry of Finance posted on X.

Telangana Deputy CM Mallu Bhatti Vikramarka also confirmed that the GoM proposed a complete exemption on health and life insurance for individuals.

GoM proposes exempting GST on health, life insurance for individuals

Indian stock markets on Wednesday closed with both benchmark indices higher after recovering from early losses. Sensex rose 213.45 points, or 0.26 per cent, to settle at 81,857.84, while the NSE Nifty 50 gained 69.90 points, or 0.28 per cent, ending at 25,050.55.&nbsp;Over the past five sessions, the Sensex has advanced around 2.3 per cent and the Nifty about 2 per cent, lifted by optimism around proposed Goods and Services Tax (GST) reforms. Experts note that strong domestic inflows and stable global cues have further strengthened investor confidence.&nbsp;According to Ashika Institutional Equities - Ashika Stock Broking, markets opened on a cautious note but steadily gained ground. "Sentiment was buoyed after China, India's largest trading partner, kept its key interest rate unchanged, a move that signals policy stability and carries potential implications for India's trade outlook. On the technical front, Nifty decisively broke past its crucial resistance at 25,000 and continued to hold firm above this mark, further boosting investor confidence," it said.&nbsp;Vinod Nair, Head of Research at Geojit Investments Limited, highlighted that the rally was supported by domestic factors but cautioned about external risks.&nbsp;"The Indian market sustained its positive momentum, supported by strong domestic inflows and favourable macro tailwinds. However, rich valuations and external risks, particularly the U.S. tariffs and sanctions on the purchase of Russian crude, continue to pose challenges. Hence, greater visibility on U.S. trade policy and the path of earnings recovery will be critical," he said.&nbsp;Nair also pointed out that global markets are awaiting cues from the release of the US Federal Reserve's FOMC minutes and Fed Chair Jerome Powell's upcoming address at Jackson Hole.&nbsp;Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, noted the significance of Nifty reclaiming the 25K mark. "The benchmark indices Nifty have continued their northward journey for the fifth consecutive trading session. Most noteworthy, it has ended the session above the psychosocial level of the 25,000 mark. Bank Nifty, on the other hand, relatively underperformed, trading sideways in a narrow range," he explained.&nbsp;Shah added that sectoral performance remained mixed, with IT and FMCG stocks leading the gains, while media and pharma shares slipped. Infosys and TCS emerged as top performers in the Nifty pack, while BEL and Shriram Finance were among the major laggards.&nbsp;Broader markets also mirrored the upbeat sentiment. Both Nifty Midcap and Nifty Small Cap 100 indices ended in the green, outperforming frontline benchmarks for the second consecutive session. Market breadth remained strong, with more than half of the Nifty 500 constituents closing higher.

Indian stock markets on Wednesday closed with both benchmark indices higher after recovering from early losses. Sensex rose 213.45 points, or 0.26 per cent, to settle at 81,857.84, while the NSE Nifty 50 gained 69.90 points, or 0.28 per cent, ending at 25,050.55.

Indian stock markets on Wednesday closed with both benchmark indices higher after recovering from early losses. Sensex rose 213.45 points, or 0.26 per cent, to settle at 81,857.84, while the NSE Nifty 50 gained 69.90 points, or 0.28 per cent, ending at 25,050.55. Over the past five sessions, the Sensex has advanced around 2.3 per cent and the Nifty about 2 per cent, lifted by optimism around proposed Goods and Services Tax (GST) reforms. Experts note that strong domestic inflows and stable global cues have further strengthened investor confidence. According to Ashika Institutional Equities - Ashika Stock Broking, markets opened on a cautious note but steadily gained ground. "Sentiment was buoyed after China, India's largest trading partner, kept its key interest rate unchanged, a move that signals policy stability and carries potential implications for India's trade outlook. On the technical front, Nifty decisively broke past its crucial resistance at 25,000 and continued to hold firm above this mark, further boosting investor confidence," it said. Vinod Nair, Head of Research at Geojit Investments Limited, highlighted that the rally was supported by domestic factors but cautioned about external risks. "The Indian market sustained its positive momentum, supported by strong domestic inflows and favourable macro tailwinds. However, rich valuations and external risks, particularly the U.S. tariffs and sanctions on the purchase of Russian crude, continue to pose challenges. Hence, greater visibility on U.S. trade policy and the path of earnings recovery will be critical," he said. Nair also pointed out that global markets are awaiting cues from the release of the US Federal Reserve's FOMC minutes and Fed Chair Jerome Powell's upcoming address at Jackson Hole. Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, noted the significance of Nifty reclaiming the 25K mark. "The benchmark indices Nifty have continued their northward journey for the fifth consecutive trading session. Most noteworthy, it has ended the session above the psychosocial level of the 25,000 mark. Bank Nifty, on the other hand, relatively underperformed, trading sideways in a narrow range," he explained. Shah added that sectoral performance remained mixed, with IT and FMCG stocks leading the gains, while media and pharma shares slipped. Infosys and TCS emerged as top performers in the Nifty pack, while BEL and Shriram Finance were among the major laggards. Broader markets also mirrored the upbeat sentiment. Both Nifty Midcap and Nifty Small Cap 100 indices ended in the green, outperforming frontline benchmarks for the second consecutive session. Market breadth remained strong, with more than half of the Nifty 500 constituents closing higher.

Both Nifty Midcap and Nifty Small Cap 100 indices ended in the green, outperforming frontline benchmarks.

Indian stock benchmarks extend gains; Sensex gains 213 points, Nifty tops 25K

The Lok Sabha on Wednesday passed The Promotion and Regulation of Online Gaming Bill, which promotes e-sports and online social games but bans online money games. Union Minister for Electronics and Information Technology Ashwini Vaishnaw said that Prime Minister Narendra Modi chose the welfare of society over revenue.&nbsp;"Online money game, which is a cause of concern in society. There are people, there are families who got addicted to online money games. They lose their hard-earned money. Algorithms are sometimes such that it is different to know with whom you are playing. Algorithms are opaque," he added.&nbsp;The minister said many people died by suicide, and many families were devastated because of online gaming. After the bill becomes law, those linked to the business of online money gaming will be imprisoned for up to three years and fined Rs 1 crore or both.&nbsp;Repeat offenders can face a jail term of up to 5 years and can be fined up to Rs 2 crore.&nbsp;Meanwhile, official sources told PTI that the government estimates that 45 crore people lose Rs 20000 crore every year in online real money gaming.&nbsp;"There is a rough estimate that 45 crore people lose money every year. The total impact of the loss is estimated to be tentatively around Rs 20,000 crore," the source said.&nbsp;The source further said that money gaming has become a major problem for society, and parliamentarians raised concerns about its bad impact.&nbsp;The source further said that several money games were masquerading as a game of skill to differentiate themselves from gambling.&nbsp;The source said that the bill will promote eSports and online social games.&nbsp;Meanwhile, online gaming bodies said that the bill will lead to the loss of nearly 2 lakh jobs and ruin an industry with a 20 per cent compound annual growth rate (CAGR).

The Lok Sabha on Wednesday passed The Promotion and Regulation of Online Gaming Bill, which promotes e-sports and online social games but bans online money games. 

The Lok Sabha on Wednesday passed The Promotion and Regulation of Online Gaming Bill, which promotes e-sports and online social games but bans online money games. Union Minister for Electronics and Information Technology Ashwini Vaishnaw said that Prime Minister Narendra Modi chose the welfare of society over revenue. "Online money game, which is a cause of concern in society. There are people, there are families who got addicted to online money games. They lose their hard-earned money. Algorithms are sometimes such that it is different to know with whom you are playing. Algorithms are opaque," he added. The minister said many people died by suicide, and many families were devastated because of online gaming. After the bill becomes law, those linked to the business of online money gaming will be imprisoned for up to three years and fined Rs 1 crore or both. Repeat offenders can face a jail term of up to 5 years and can be fined up to Rs 2 crore. Meanwhile, official sources told PTI that the government estimates that 45 crore people lose Rs 20000 crore every year in online real money gaming. "There is a rough estimate that 45 crore people lose money every year. The total impact of the loss is estimated to be tentatively around Rs 20,000 crore," the source said. The source further said that money gaming has become a major problem for society, and parliamentarians raised concerns about its bad impact. The source further said that several money games were masquerading as a game of skill to differentiate themselves from gambling. The source said that the bill will promote eSports and online social games. Meanwhile, online gaming bodies said that the bill will lead to the loss of nearly 2 lakh jobs and ruin an industry with a 20 per cent compound annual growth rate (CAGR).

Online Gaming Bill 2025: The Lok Sabha passed the bill, which seeks to ban online money games. The government says these games have ruined lives and families of many people.

Online Gaming Bill 2025: How much money do people lose every year to money games?

Most salaried people rely on home loans to buy their dream home. However, interest rates play a major role in their buying decision. A minor change in the interest rates can trigger a major change in the EMIs. Hence, it is important to check home loans. Most people try to choose the public sector banks because of lower interest rates. However, some even opt for the private sector banks. Here's a look at the interest rates of some leading places.&nbsp;The State Bank of India, the country's largest lender, has raised its home loan interest rates by 25 basis points (bps) for new borrowers. The revision was applied from August 1, especially for those with low credit scores. Here's how the rates compare.&nbsp;The State Bank of India's interest rates range from 7.5 per cent to 10.55 per cent. Here are the new rates. Its home loan rates have increased from 7.5 per cent to 8.7 per cent. The rates for a top-up&nbsp;loan are between 8 per cent to 10.75 per cent. The loan against property rates have become between 9.20 per cent to 10.75 per cent.&nbsp;The Bank of Baroda's home loan rates hover between 7.45 per cent to 9.50 per cent.&nbsp;The Punjab National Bank is offering home loans at 7.45 per cent to 9.50 per cent rates. Canara Bank is offering loans at rates between 7.40 per cent to 10.25 per cent.&nbsp;Bandhan Bank is offering home loans at rates between 8.41 per cent and 15 per cent. According to reports, those with a low credit score will have to pay more for loans.

Most salaried people rely on home loans to buy their dream home. However, interest rates play a major role in their buying decision.

Most salaried people rely on home loans to buy their dream home. However, interest rates play a major role in their buying decision. A minor change in the interest rates can trigger a major change in the EMIs. Hence, it is important to check home loans. Most people try to choose the public sector banks because of lower interest rates. However, some even opt for the private sector banks. Here's a look at the interest rates of some leading places. The State Bank of India, the country's largest lender, has raised its home loan interest rates by 25 basis points (bps) for new borrowers. The revision was applied from August 1, especially for those with low credit scores. Here's how the rates compare. The State Bank of India's interest rates range from 7.5 per cent to 10.55 per cent. Here are the new rates. Its home loan rates have increased from 7.5 per cent to 8.7 per cent. The rates for a top-up loan are between 8 per cent to 10.75 per cent. The loan against property rates have become between 9.20 per cent to 10.75 per cent. The Bank of Baroda's home loan rates hover between 7.45 per cent to 9.50 per cent. The Punjab National Bank is offering home loans at 7.45 per cent to 9.50 per cent rates. Canara Bank is offering loans at rates between 7.40 per cent to 10.25 per cent. Bandhan Bank is offering home loans at rates between 8.41 per cent and 15 per cent. According to reports, those with a low credit score will have to pay more for loans.

Home loan rates: SBI has raised its home loan interest rates by 25 basis points. Here's a comparison of home loan rates by various banks.

Home loans: What are SBI, PNB, Bank of Baroda's interest rates

The Centre on Wednesday introduced the online gaming bill in the Lok Sabha. The bill seeks to criminalise online money games in India. According to reports, if the bill is passed&nbsp;by the Parliament, service providers, advertisers, promoters, and those who financially support such games will face legal consequences.&nbsp;However, those who are playing such games will be exempt from any penal action. A source told the news agency ANI that the authorities will consider the players as victims.&nbsp;"No punishment for those playing online games. No punishment to victims. Only punishment for service providers, advertisers, promoters, and those who support financially&nbsp;such games," the source added.&nbsp;<a href="https://www.wionews.com/business-economy/online-gaming-bill-how-much-loss-will-the-legislation-cause-key-numbers-1755680197602">Also read: Online Gaming Bill 2025: How much loss will the legislation cause? Key numbers</a>&nbsp;The source further said that the government&nbsp;chose the society.&nbsp;"We have interacted with the 3rd segment of the online gaming industry. We tried to impose GST also, but the challenge continued. We had no option but to choose society for the welfare of people," the source added.&nbsp;The central government has been promoting e-sports. The government will also promote other online games. However, online money games will be barred because they were ruining families.&nbsp;"Fraud and cheating are happening through these games, and several families are ruined," the source added.&nbsp;If the bill is passed, violators can be&nbsp;imprisoned for up to 3 years or fined up to Rs 1 crore. Both punishments can be imposed on such people as well. For advertising money games, imprisonment up to 2 years and/or a fine up to Rs 50 lakh may be imposed. For&nbsp;financial transactions related to money games, imprisonment up to 3 years and/or a fine of up to Rs 1 crore is being provided.

The Centre on Wednesday introduced the online gaming bill in the Lok Sabha. The bill seeks to criminalise online money games in India.

The Centre on Wednesday introduced the online gaming bill in the Lok Sabha. The bill seeks to criminalise online money games in India. According to reports, if the bill is passed by the Parliament, service providers, advertisers, promoters, and those who financially support such games will face legal consequences. However, those who are playing such games will be exempt from any penal action. A source told the news agency ANI that the authorities will consider the players as victims. "No punishment for those playing online games. No punishment to victims. Only punishment for service providers, advertisers, promoters, and those who support financially such games," the source added. Also read: Online Gaming Bill 2025: How much loss will the legislation cause? Key numbers The source further said that the government chose the society. "We have interacted with the 3rd segment of the online gaming industry. We tried to impose GST also, but the challenge continued. We had no option but to choose society for the welfare of people," the source added. The central government has been promoting e-sports. The government will also promote other online games. However, online money games will be barred because they were ruining families. "Fraud and cheating are happening through these games, and several families are ruined," the source added. If the bill is passed, violators can be imprisoned for up to 3 years or fined up to Rs 1 crore. Both punishments can be imposed on such people as well. For advertising money games, imprisonment up to 2 years and/or a fine up to Rs 50 lakh may be imposed. For financial transactions related to money games, imprisonment up to 3 years and/or a fine of up to Rs 1 crore is being provided.

Online Gaming Bill 2025: If the bill is passed, violators can be&nbsp;imprisoned for up to 3 years or fined up to Rs 1 crore. However, will the players be punished?

Online Gaming Bill 2025: Will players be punished?

The government on Wednesday&nbsp;introduced the Online Gaming Bill in the Lok Sabha, which prohibits harmful online money gaming services, advertisements, and financial transactions linked to such entities.<h2>What Is the Online Gaming Bill 2025?</h2>The Promotion and Regulation of Online Gaming Bill, 2025 proposes to outlaw all online betting and gambling (Satta and Jua) activities, including Poker, Rummy, and other online games and online lotteries involving money. The government said in a statement on Wednesday that the bill seeks to ban all entities offering, operating, or facilitating online money games, irrespective of their skill, chance-based nature. The government has taken this move as it wants to protect India's youth from predatory real-money games, as they form addiction in participants.<h2>How Much Loss Will the Online Gaming Bill Cause?</h2>The online gaming industry wrote to the Union Home Minister Amit Shah, urging him to protect responsible platforms.&nbsp;In a joint letter, the All India Gaming Federation (AIGF), E-Gaming Federation (EGF), and the Federation of India Fantasy Sports (FIFS) said in a recent letter that the bill would destroy&nbsp;2 lakh jobs, resulting in the shutdown of 400 companies.&nbsp;It said the enterprise valuation of the industry was Rs 2 lakh crore. It said it was generating Rs 31000 crore in annual revenue and contributing Rs 20000 crore in taxes.&nbsp;The industry is growing at a 20 per cent CAGR and is expected to double by 2028.&nbsp;"Sir, on behalf of the millions of young entrepreneurs, developers, and professionals working in India's sunrise digital skill gaming sector, we write to you with the deepest respect and gravest concern regarding the news reports about the draft Bill that seeks to ban all real money games, including those based on skill," the industry bodies had stated.<h2>Who Will Be Most Affected by the Online Gaming Bill?</h2>Dream11, MPL, Games24X7, Winzo, Zupee, and publicly listed Nazara Technologies are among those hit by the bill. The industry is estimated to be Rs 78551 crore by 2029.&nbsp;Kazim Rizvi, Founding Director of public policy think-tank The Dialogue, told ET that GST revenues from gaming surged to Rs 6,909 crore, and TDS collections crossed Rs 1,080 crore in FY24. These figures will be adversely impacted if the bill becomes law.&nbsp;The bill has proposed up to 3 years' imprisonment or Rs 1 crore fine or both for violators.

The government on Wednesday introduced the Online Gaming Bill in the Lok Sabha, which prohibits harmful online money gaming services, advertisements, and financial transactions linked to such entities. 

The government on Wednesday introduced the Online Gaming Bill in the Lok Sabha, which prohibits harmful online money gaming services, advertisements, and financial transactions linked to such entities. What Is the Online Gaming Bill 2025? The Promotion and Regulation of Online Gaming Bill, 2025 proposes to outlaw all online betting and gambling (Satta and Jua) activities, including Poker, Rummy, and other online games and online lotteries involving money. The government said in a statement on Wednesday that the bill seeks to ban all entities offering, operating, or facilitating online money games, irrespective of their skill, chance-based nature. The government has taken this move as it wants to protect India's youth from predatory real-money games, as they form addiction in participants. How Much Loss Will the Online Gaming Bill Cause? The online gaming industry wrote to the Union Home Minister Amit Shah, urging him to protect responsible platforms. In a joint letter, the All India Gaming Federation (AIGF), E-Gaming Federation (EGF), and the Federation of India Fantasy Sports (FIFS) said in a recent letter that the bill would destroy 2 lakh jobs, resulting in the shutdown of 400 companies. It said the enterprise valuation of the industry was Rs 2 lakh crore. It said it was generating Rs 31000 crore in annual revenue and contributing Rs 20000 crore in taxes. The industry is growing at a 20 per cent CAGR and is expected to double by 2028. "Sir, on behalf of the millions of young entrepreneurs, developers, and professionals working in India's sunrise digital skill gaming sector, we write to you with the deepest respect and gravest concern regarding the news reports about the draft Bill that seeks to ban all real money games, including those based on skill," the industry bodies had stated. Who Will Be Most Affected by the Online Gaming Bill? Dream11, MPL, Games24X7, Winzo, Zupee, and publicly listed Nazara Technologies are among those hit by the bill. The industry is estimated to be Rs 78551 crore by 2029. Kazim Rizvi, Founding Director of public policy think-tank The Dialogue, told ET that GST revenues from gaming surged to Rs 6,909 crore, and TDS collections crossed Rs 1,080 crore in FY24. These figures will be adversely impacted if the bill becomes law. The bill has proposed up to 3 years' imprisonment or Rs 1 crore fine or both for violators.

The Promotion and Regulation of Online Gaming Bill was tabled in the Lok Sabha today. The bill criminalises the promotion of money-linked online games. If passed, it will essentially ban a booming industry.

Online Gaming Bill 2025: How much loss will the legislation cause? Key numbers

The deadline for the filing of income tax returns for the financial year 2024-2025 is September 15. Many of those who want to file their tax returns are confused about which income tax form to use. Who should use which&nbsp;form? Here are the details.&nbsp;ITR-1: Those who have a total income of up to Rs 50 lakh must fill this form. It is used by those who have many sources of income, including from one house, interests from savings accounts, and fixed deposits. You&nbsp;are not eligible to use this form if you are a director&nbsp;of a company. If you have business income&nbsp;from a business, or you own foreign assets or foreign income, you can't use this form. Those with more capital gains than the&nbsp;threshold&nbsp;and whose long-term capital gains are over Rs 1.25 lakh&nbsp;must also refrain from filling this form.&nbsp;ITR-2: Those not eligible for the first form can file the second form. Those who don't have income from the profits of a business or don't have income from interests, salary, bonus, and commission from a partnership firm can use this form. It can be used for taxpayers who want to club the income of their spouse or minor child into their income tax return.&nbsp;ITR-3: This form is used by those who have income from business and professions that require the maintenance of books of accounts. This includes doctors, lawyers, chartered accountants, or other such professions in which income is calculated&nbsp;from their profits.&nbsp;ITR-4: This is used by individuals, firms that have an income of up to Rs 50 lakh. This can be used for those with a business or profession on a presumptive basis. This includes income from salary and pension, house property, other sources, and agricultural income.&nbsp;Here are some FAQs about the income tax:&nbsp;<h2>How long does it take for ITR processing?</h2>After the ITR is filed, they can e-verify their claim by using Aadhaar OTP and net banking. They can also send a signed form by post. After the verification is completed, the department verifies if the claims made by the taxpayer are accurate or if there are tax calculation mismatches. The procession can take between a few hours to 6 months, depending on the complexity of the return.<h2>Delayed ITR processing</h2>When the details match the details&nbsp;with the Income Tax Department, ITR processing takes less time. However, when there are discrepancies, it takes more time. Incorrect compliance details involving banks, PAN, and Aadhaar cards can also delay the process.&nbsp;If there are some issues with the ITR, which is causing the delay, the income tax department may issue a notice. Then the taxpayer will be required to fill out the income tax return with changes.

The deadline for the filing of income tax returns for the financial year 2024-2025 is September 15. Many of those who want to file their tax returns are confused about which income tax form to use. Who should use which form? Here are the details.

The deadline for the filing of income tax returns for the financial year 2024-2025 is September 15. Many of those who want to file their tax returns are confused about which income tax form to use. Who should use which form? Here are the details. ITR-1: Those who have a total income of up to Rs 50 lakh must fill this form. It is used by those who have many sources of income, including from one house, interests from savings accounts, and fixed deposits. You are not eligible to use this form if you are a director of a company. If you have business income from a business, or you own foreign assets or foreign income, you can't use this form. Those with more capital gains than the threshold and whose long-term capital gains are over Rs 1.25 lakh must also refrain from filling this form. ITR-2: Those not eligible for the first form can file the second form. Those who don't have income from the profits of a business or don't have income from interests, salary, bonus, and commission from a partnership firm can use this form. It can be used for taxpayers who want to club the income of their spouse or minor child into their income tax return. ITR-3: This form is used by those who have income from business and professions that require the maintenance of books of accounts. This includes doctors, lawyers, chartered accountants, or other such professions in which income is calculated from their profits. ITR-4: This is used by individuals, firms that have an income of up to Rs 50 lakh. This can be used for those with a business or profession on a presumptive basis. This includes income from salary and pension, house property, other sources, and agricultural income. Here are some FAQs about the income tax: How long does it take for ITR processing? After the ITR is filed, they can e-verify their claim by using Aadhaar OTP and net banking. They can also send a signed form by post. After the verification is completed, the department verifies if the claims made by the taxpayer are accurate or if there are tax calculation mismatches. The procession can take between a few hours to 6 months, depending on the complexity of the return. Delayed ITR processing When the details match the details with the Income Tax Department, ITR processing takes less time. However, when there are discrepancies, it takes more time. Incorrect compliance details involving banks, PAN, and Aadhaar cards can also delay the process. If there are some issues with the ITR, which is causing the delay, the income tax department may issue a notice. Then the taxpayer will be required to fill out the income tax return with changes.

The Income Tax filing deadline is fast approaching. Here are some key details about filing the Income Tax 2025. Check some frequently asked questions about the income tax.

Income Tax deadline approaches: Details on forms, processing delays

Gold rates are expected to remain high during the second half of the year, according to analysts. They add that COMEX Gold will touch $3,600 in December 2025, breaking the&nbsp;records&nbsp;of its prices. Here's why gold might prove to be a stable investment option for now.&nbsp;Over the past 20 years, gold has ended the year on a positive note for 14 years. Over the past three years, it has outperformed the Nifty 50. While gold has delivered an annual return of an average of 23 per cent, the Nifty 50 has delivered a return of just 11 per cent.&nbsp;Gold has proven to be a resilient investment option for diversification&nbsp;purposes, especially in the face of market volatility and geopolitical uncertainties.&nbsp;Gold ETFs and Sovereign Gold Bonds have also contributed to the popularity&nbsp;of gold among digital investors.&nbsp;India's gold ETF holdings surged 42 per cent year-on-year. The number of investor accounts also grew by 41 per cent. Gen Z investors, social media influencers, and easy access to fintech platforms have made gold accessible.&nbsp;In Q2 of 2025, the global gold demand surged 3 per cent. While global gold reserves remained robust with 36,345 tonnes, India's gold reserves climbed to 880 tonnes.<h2>Why is gold a good investment option?</h2>Gold's constant returns have highlighted the importance of investing in the precious metal amid global uncertainty, which is exacerbated by Donald Trump's tariff announcements.&nbsp;Gold can be a great tool for diversification because its connection with the equities market is not strong. Also, with digital gold, investors can buy an&nbsp;amount of gold smaller than the physical metal.&nbsp;Individuals can invest a small portion of their spending on investment tools in gold. They can also buy gold SIPs to reduce the risk of buying gold when its price is high.&nbsp;"Gold’s strategic role in portfolios has strengthened as investors navigate an era of slower global growth, policy uncertainty, and elevated geopolitical risks. With inflationary pressures, a softening US dollar, and anticipated US Fed rate cuts, we see sustained upside potential in gold prices through the remainder of 2025. Our analysis indicates COMEX Gold could test the $3,600 mark by year-end, supported by strong ETF inflows, steady central bank buying, and robust retail participation in India’s gold investment markets," Ventura's NS Ramaswamy told Business Standard.

Gold rates are expected to remain high during the second half of the year, according to analysts.

Gold rates are expected to remain high during the second half of the year, according to analysts. They add that COMEX Gold will touch $3,600 in December 2025, breaking the records of its prices. Here's why gold might prove to be a stable investment option for now. Over the past 20 years, gold has ended the year on a positive note for 14 years. Over the past three years, it has outperformed the Nifty 50. While gold has delivered an annual return of an average of 23 per cent, the Nifty 50 has delivered a return of just 11 per cent. Gold has proven to be a resilient investment option for diversification purposes, especially in the face of market volatility and geopolitical uncertainties. Gold ETFs and Sovereign Gold Bonds have also contributed to the popularity of gold among digital investors. India's gold ETF holdings surged 42 per cent year-on-year. The number of investor accounts also grew by 41 per cent. Gen Z investors, social media influencers, and easy access to fintech platforms have made gold accessible. In Q2 of 2025, the global gold demand surged 3 per cent. While global gold reserves remained robust with 36,345 tonnes, India's gold reserves climbed to 880 tonnes. Why is gold a good investment option? Gold's constant returns have highlighted the importance of investing in the precious metal amid global uncertainty, which is exacerbated by Donald Trump's tariff announcements. Gold can be a great tool for diversification because its connection with the equities market is not strong. Also, with digital gold, investors can buy an amount of gold smaller than the physical metal. Individuals can invest a small portion of their spending on investment tools in gold. They can also buy gold SIPs to reduce the risk of buying gold when its price is high. "Gold’s strategic role in portfolios has strengthened as investors navigate an era of slower global growth, policy uncertainty, and elevated geopolitical risks. With inflationary pressures, a softening US dollar, and anticipated US Fed rate cuts, we see sustained upside potential in gold prices through the remainder of 2025. Our analysis indicates COMEX Gold could test the $3,600 mark by year-end, supported by strong ETF inflows, steady central bank buying, and robust retail participation in India’s gold investment markets," Ventura's NS Ramaswamy told Business Standard.

Gold has delivered good returns over the past three years. Its returns were nearly double the returns of the Nifty 50. Digital gold has made buying the metal easier and accessible to those who were reluctant before. Hence, gold has emerged as a safer investment option.

Gold rates to remain high. Why it's a stable investment option in 2025?

People take personal loans for a variety&nbsp;of reasons. Some want to buy an expensive phone, some want to travel, while others take out such loans to fund their emergency expenses. However, personal loans are expensive. Here are some options for those who want cheaper personal loans.<h2>What's a personal loan?</h2>Personal&nbsp;loans generally increase the lender's risk because they are dished out without securing collateral. They are insecure loans.&nbsp;<h2>Banks with the lowest personal loan rates</h2>State Bank of India (SBI) offers the cheapest interest rate. It gives loans starting at just 10.10 per cent per annum, reported Money Control. A loan of Rs 5 lakh for five years would require an EMI of over Rs 10,600.&nbsp;Punjab National Bank's personal loans start at a 10.5 per cent interest&nbsp;rate. The EMI for Rs 5 lakh for five years will cost Rs 10,740.&nbsp;Union Bank of India provides personal loans at rates starting at 10.75 per cent. A loan of Rs 5 lakh for a period of five years will&nbsp;generate an EMI of Rs 10,809.&nbsp;Bank of Baroda's interest rates for such loans start at 10.90 per cent. The EMI for a Rs 5-lakh loan for five years will turn out to be Rs 10,846.&nbsp;Canara Bank offers personal loans at steeper rates. Its loans start at 13.75 per cent. The EMI for a Rs 5 lakh loan for five years will turn out to be Rs 11,569.&nbsp;Axis Bank, a private lender, charges at least 9.99 per cent on personal loans. The EMI for a Rs 5 lakh loan will cost Rs 10,621.&nbsp;ICICI Bank's interest rates start at 10.6 percent for personal loans.&nbsp;HDFC Bank's personal loan interest rates start from 10.9 per cent. The EMI on a Rs 5-lakh loan with a five-year repayment period is Rs 10,846.

People take personal loans for a variety of reasons. Some want to buy an expensive phone, some want to travel, while others take out such loans to fund their emergency expenses.

People take personal loans for a variety of reasons. Some want to buy an expensive phone, some want to travel, while others take out such loans to fund their emergency expenses. However, personal loans are expensive. Here are some options for those who want cheaper personal loans. What's a personal loan? Personal loans generally increase the lender's risk because they are dished out without securing collateral. They are insecure loans. Banks with the lowest personal loan rates State Bank of India (SBI) offers the cheapest interest rate. It gives loans starting at just 10.10 per cent per annum, reported Money Control. A loan of Rs 5 lakh for five years would require an EMI of over Rs 10,600. Punjab National Bank's personal loans start at a 10.5 per cent interest rate. The EMI for Rs 5 lakh for five years will cost Rs 10,740. Union Bank of India provides personal loans at rates starting at 10.75 per cent. A loan of Rs 5 lakh for a period of five years will generate an EMI of Rs 10,809. Bank of Baroda's interest rates for such loans start at 10.90 per cent. The EMI for a Rs 5-lakh loan for five years will turn out to be Rs 10,846. Canara Bank offers personal loans at steeper rates. Its loans start at 13.75 per cent. The EMI for a Rs 5 lakh loan for five years will turn out to be Rs 11,569. Axis Bank, a private lender, charges at least 9.99 per cent on personal loans. The EMI for a Rs 5 lakh loan will cost Rs 10,621. ICICI Bank's interest rates start at 10.6 percent for personal loans. HDFC Bank's personal loan interest rates start from 10.9 per cent. The EMI on a Rs 5-lakh loan with a five-year repayment period is Rs 10,846.

Personal loans fulfil personal goals. However, lenders usually charge exhorbitant rates for personal loans because these are insecure loans. Here's a list of some banks that don't charge massive rates for personal loans.

Banks that offer personal loans at lowest rates

With financial education among the masses, mutual funds have become popular for financial growth. However, they are subject to market risks. Many times, mutual funds don't register growth because of financial uncertainties and political and geopolitical&nbsp;conditions affecting the market. In such cases, fixed deposits become&nbsp;the financial instruments of choice. FDs are time-tested and safer investment options, which provide more interest than a savings account while keeping your investments safer relative to mutual funds. However, many FDs don't give robust returns. Here's a list of banks that provide the highest FD rates in India.&nbsp;The first on the list is Axis Bank. It is providing an interest rate of 6.6 per cent for fixed deposits for a term of three years. This means that a Rs 1 lakh FD can grow to over Rs 1.19 lakh.&nbsp;ICICI Bank, one of the largest private lenders in India, is also offering an interest rate of 6.6 per cent on a three-year FD.&nbsp;IndusInd is another bank that is offering a good rate on FDs. If one invests Rs 1 lakh as a fixed deposit for three years, she would earn Rs 1,20,000 at an annual rate of 6.75 per cent.&nbsp;For FD of three years, HDFC and Kotak Mahindra banks are an excellent option. They are providing an interest rate of 6.4 per cent on FDs of three years.&nbsp;The Punjab National Bank offers a greater interest rate than HDFC and Kotak. It is offering 6.5 per cent per annum on fixed deposits with a three-year term.&nbsp;PNB's interest rates are the best among public sector banks.&nbsp;Bank of Baroda and Union Bank both offer 6.4 per cent on FDs with a term of three years.&nbsp;The State Bank of India(SBI), the country's largest lender, offers an interest rate of 6.3 per cent on a three-year fixed deposit. This means a sum of Rs 1 lakh will become close to Rs 1.19 lakh after three years.&nbsp;Canara Bank's interest rates are a bit lower. It is offering 6.25 per cent interest for three years on FDs.

With financial education among the masses, mutual funds have become popular for financial growth. However, they are subject to market risks.

With financial education among the masses, mutual funds have become popular for financial growth. However, they are subject to market risks. Many times, mutual funds don't register growth because of financial uncertainties and political and geopolitical conditions affecting the market. In such cases, fixed deposits become the financial instruments of choice. FDs are time-tested and safer investment options, which provide more interest than a savings account while keeping your investments safer relative to mutual funds. However, many FDs don't give robust returns. Here's a list of banks that provide the highest FD rates in India. The first on the list is Axis Bank. It is providing an interest rate of 6.6 per cent for fixed deposits for a term of three years. This means that a Rs 1 lakh FD can grow to over Rs 1.19 lakh. ICICI Bank, one of the largest private lenders in India, is also offering an interest rate of 6.6 per cent on a three-year FD. IndusInd is another bank that is offering a good rate on FDs. If one invests Rs 1 lakh as a fixed deposit for three years, she would earn Rs 1,20,000 at an annual rate of 6.75 per cent. For FD of three years, HDFC and Kotak Mahindra banks are an excellent option. They are providing an interest rate of 6.4 per cent on FDs of three years. The Punjab National Bank offers a greater interest rate than HDFC and Kotak. It is offering 6.5 per cent per annum on fixed deposits with a three-year term. PNB's interest rates are the best among public sector banks. Bank of Baroda and Union Bank both offer 6.4 per cent on FDs with a term of three years. The State Bank of India(SBI), the country's largest lender, offers an interest rate of 6.3 per cent on a three-year fixed deposit. This means a sum of Rs 1 lakh will become close to Rs 1.19 lakh after three years. Canara Bank's interest rates are a bit lower. It is offering 6.25 per cent interest for three years on FDs.

Punjab National Bank gives the most interest compared with other public-sector banks. Here's a look at how it compares with the FD rates of SBI, Axis Bank, Bank of Baroda, ICICI Bank, Union Bank and Canara Bank.&nbsp;

Which are the banks that offer the highest interest rates on three-year FDs?

Many say that one should begin investing&nbsp;when one gets their first salary. However, it isn't always possible for everyone. People have their aspirations to balance with financial planning. Also, many people don't earn much until the age of 30, after they&nbsp;have attained a level of experience and their salary reaches a certain level. Some people first want to enjoy their newfound financial freedom and expose themselves to different experiences, straining their financial resources. By the time they think about investing, they are on the cusp of entering the dreaded 30s, when responsibilities knock on the door.&nbsp;How&nbsp;much can one invest to become financially independent by the age of 42? A financial planner has shared a roadmap&nbsp;for becoming independent by the age of 42.&nbsp;Vijay Maheshwati wrote on LinkedIn that it is possible for those aged 30 to become financially free by 42.&nbsp;He calculated&nbsp;a person's financial planning who spends Rs 75000 every month. Here's how.&nbsp;A person whose monthly expenses are Rs 75000 will have to earn at least Rs 1.5 lakh per month at 42, if we consider an inflation rate of 6 per cent.&nbsp;A person will need at least Rs 4.5 crore at retirement for a 4 per cent per annum withdrawal.&nbsp;Maheshwari calculates that a person needs to invest Rs 1.5 lakh per month to achieve this financial goal. If the annual interest rate the individual gets per year remains in the range of 12-14 per cent, she can achieve this goal.&nbsp;Another way of doing this is to start with Rs 70,000 per month and step up the investment by 10 per cent.<h2>Where to put the money?</h2>Maheshwari says: "30–38: 60% Equity | 20% Debt | 20% Gold/REITs;&nbsp;39–42: Rebalance gradually to Hybrid/Debt (~40–50%)".&nbsp;He said one can withdraw Rs 1.5 lakh per month after reaching his financial goal.&nbsp;"Switch to Multi-Asset + Hybrid + SWP → Withdraw ₹1.5L/month (inflation-adjusted) while corpus continues to grow," he said.&nbsp;He also said that one must avoid debt traps.

Many say that one should begin investing when one gets their first salary. However, it isn't always possible for everyone. People have their aspirations to balance with financial planning.

Many say that one should begin investing when one gets their first salary. However, it isn't always possible for everyone. People have their aspirations to balance with financial planning. Also, many people don't earn much until the age of 30, after they have attained a level of experience and their salary reaches a certain level. Some people first want to enjoy their newfound financial freedom and expose themselves to different experiences, straining their financial resources. By the time they think about investing, they are on the cusp of entering the dreaded 30s, when responsibilities knock on the door. How much can one invest to become financially independent by the age of 42? A financial planner has shared a roadmap for becoming independent by the age of 42. Vijay Maheshwati wrote on LinkedIn that it is possible for those aged 30 to become financially free by 42. He calculated a person's financial planning who spends Rs 75000 every month. Here's how. A person whose monthly expenses are Rs 75000 will have to earn at least Rs 1.5 lakh per month at 42, if we consider an inflation rate of 6 per cent. A person will need at least Rs 4.5 crore at retirement for a 4 per cent per annum withdrawal. Maheshwari calculates that a person needs to invest Rs 1.5 lakh per month to achieve this financial goal. If the annual interest rate the individual gets per year remains in the range of 12-14 per cent, she can achieve this goal. Another way of doing this is to start with Rs 70,000 per month and step up the investment by 10 per cent. Where to put the money? Maheshwari says: "30–38: 60% Equity | 20% Debt | 20% Gold/REITs; 39–42: Rebalance gradually to Hybrid/Debt (~40–50%)". He said one can withdraw Rs 1.5 lakh per month after reaching his financial goal. "Switch to Multi-Asset + Hybrid + SWP → Withdraw ₹1.5L/month (inflation-adjusted) while corpus continues to grow," he said. He also said that one must avoid debt traps.

Financial advice. If a person is aged 30 and has a monthly expense of Rs 75000, she can still become financially independent by the time she hits 42. Here's a calculation.

How to become financially independent by the age of 42? Financial calculations

Fresh graduates in the United States are finding it harder than ever to get their first job, according to new data showing unemployment among new entrants to the labour force has reached its highest level in 37 years.<h2>Graduate unemployment at record levels</h2>Figures from the Federal Reserve Bank of Richmond reveal that 13.4% of unemployed Americans in July were new to the workforce, including recent school and college graduates. That is the highest share since 1988, when the Baby Boomer generation was entering the job market in large numbers.Also read: <a href="https://www.wionews.com/business-economy/how-cheaper-will-cars-become-if-gst-rates-are-reduced-by-diwali-1755602970051">How cheaper will cars become if GST rates are reduced by Diwali?</a>The figures highlight how cautious employers remain in the face of uncertainty around tariffs and government policy. While overall unemployment is relatively low at 4.2%, those without jobs are finding it far harder to secure work compared with previous years.<h2>College degree holders still fare better</h2>The unemployment rate for young Americans aged 22 to 27 with a college degree is at levels not seen since the early 2010s, excluding the pandemic years. However, graduates are still in a stronger position than peers without degrees. The overall jobless rate for this age group stood at 7.4% in the second quarter.Also read: <a href="https://www.wionews.com/business-economy/china-tariff-delay-fails-to-save-us-christmas-shopping-season-1755595150808">China tariff delay fails to save US Christmas shopping season</a><h2>Long-term unemployment rising</h2>The Richmond Fed also pointed to a sharp rise in long-term unemployment. People out of work for at least 27 weeks made up 25.2% of the total unemployed, the highest figure since February 2022.John O’Trakoun, the Richmond Fed economist who led the study, said the sluggish hiring market is a “double-whammy” for Gen Z. Many started their university years online during the pandemic and are now facing one of the weakest job markets in decades. “The sluggish labour market is yet another hurdle to clear,”&nbsp;he&nbsp;added.

New data shows US graduate unemployment is at its highest in 37 years, with 13.4% of July's unemployed being new workforce entrants. Employers remain cautious amid policy uncertainty, making job hunting harder for fresh graduates despite overall low unemployment.

Fresh graduates in the United States are finding it harder than ever to get their first job, according to new data showing unemployment among new entrants to the labour force has reached its highest level in 37 years. Graduate unemployment at record levels Figures from the Federal Reserve Bank of Richmond reveal that 13.4% of unemployed Americans in July were new to the workforce, including recent school and college graduates. That is the highest share since 1988, when the Baby Boomer generation was entering the job market in large numbers. Also read: How cheaper will cars become if GST rates are reduced by Diwali? The figures highlight how cautious employers remain in the face of uncertainty around tariffs and government policy. While overall unemployment is relatively low at 4.2%, those without jobs are finding it far harder to secure work compared with previous years. College degree holders still fare better The unemployment rate for young Americans aged 22 to 27 with a college degree is at levels not seen since the early 2010s, excluding the pandemic years. However, graduates are still in a stronger position than peers without degrees. The overall jobless rate for this age group stood at 7.4% in the second quarter. Also read: China tariff delay fails to save US Christmas shopping season Long-term unemployment rising The Richmond Fed also pointed to a sharp rise in long-term unemployment. People out of work for at least 27 weeks made up 25.2% of the total unemployed, the highest figure since February 2022. John O’Trakoun, the Richmond Fed economist who led the study, said the sluggish hiring market is a “double-whammy” for Gen Z. Many started their university years online during the pandemic and are now facing one of the weakest job markets in decades. “The sluggish labour market is yet another hurdle to clear,” he added.

New data shows US graduate unemployment is at its highest in 37 years, with 13.4% of July's unemployed being new workforce entrants. Employers remain cautious amid policy uncertainty, making job hunting harder for fresh graduates despite overall low unemployment.

Why Gen Z are finding it harder than ever to land first job? Graduate unemployment hits 37-year high in US

India's central government has proposed to bring down GST rates for the majority of goods and services in a bid to boost internal consumption to spur the world's fastest-growing economy. Many goods and services, including cars, are likely to get cheaper from October if the proposal is implemented.<h2>What's GST?</h2>The GST regime was implemented in 2017. It subsumed over a dozen domestic state taxes under the principle "one nation, one tax and one market".&nbsp;The system categorizes goods and services into four slabs: 5 per cent, 12 per cent, 18 per cent, and 28 per cent. The government also imposes additional levies in the form of cess on several luxury goods. It was, however, being criticized for being too complex.&nbsp;Last year, a controversy erupted over how popcorn was being taxed. Pre-packaged salted popcorn is taxed at 12%, but caramel one at 18%. Similarly, plain Indian flatbreads attract a 5% tax, but the flaky, multi-layered variety faces a levy of 18%, pointed out Reuters, in its report on GST.&nbsp;<a href="https://www.wionews.com/business-economy/how-cheaper-will-cars-become-if-gst-rates-are-reduced-by-diwali-1755602970051">Also read: How cheaper will cars become if GST rates are reduced by Diwali?</a><h2>All you need to know about the proposed reforms</h2>The government is reportedly mulling abolishing the 28 per cent tax slab. Articles like cars, air conditioners, and refrigerators fall into this category. Such products will likely be moved into a new category -- 18 per cent. So these goods will become cheaper.99 per cent of products that are taxed at 12 per cent will move into the 5 per cent bracket. These items will include butter, fruit juices, and dry fruits. Small cars will also become cheaper as they will be moved into the 18 per cent GST slab.<h2>What will become cheaper?</h2>Personal care items like hair oil and toothpaste, and construction goods like cement, will likely become cheaper. Televisions may also become cheaper.&nbsp;Sewing machines, pressure cookers, and small washing machines might also become cheaper, reported NDTV.&nbsp;Bicycles, budget garments, budget footwear, vaccines, tiles, agricultural tools, mobile phones, and computers can also attract lesser taxes.

India's central government has proposed to bring down GST rates for the majority of goods and services in a bid to boost internal consumption to spur the world's fastest-growing economy.

India's central government has proposed to bring down GST rates for the majority of goods and services in a bid to boost internal consumption to spur the world's fastest-growing economy. Many goods and services, including cars, are likely to get cheaper from October if the proposal is implemented. What's GST? The GST regime was implemented in 2017. It subsumed over a dozen domestic state taxes under the principle "one nation, one tax and one market". The system categorizes goods and services into four slabs: 5 per cent, 12 per cent, 18 per cent, and 28 per cent. The government also imposes additional levies in the form of cess on several luxury goods. It was, however, being criticized for being too complex. Last year, a controversy erupted over how popcorn was being taxed. Pre-packaged salted popcorn is taxed at 12%, but caramel one at 18%. Similarly, plain Indian flatbreads attract a 5% tax, but the flaky, multi-layered variety faces a levy of 18%, pointed out Reuters, in its report on GST. Also read: How cheaper will cars become if GST rates are reduced by Diwali? All you need to know about the proposed reforms The government is reportedly mulling abolishing the 28 per cent tax slab. Articles like cars, air conditioners, and refrigerators fall into this category. Such products will likely be moved into a new category -- 18 per cent. So these goods will become cheaper. 99 per cent of products that are taxed at 12 per cent will move into the 5 per cent bracket. These items will include butter, fruit juices, and dry fruits. Small cars will also become cheaper as they will be moved into the 18 per cent GST slab. What will become cheaper? Personal care items like hair oil and toothpaste, and construction goods like cement, will likely become cheaper. Televisions may also become cheaper. Sewing machines, pressure cookers, and small washing machines might also become cheaper, reported NDTV. Bicycles, budget garments, budget footwear, vaccines, tiles, agricultural tools, mobile phones, and computers can also attract lesser taxes.

The Goods and Services Tax (GST) regime was proposed in 2017. It entailed four tax slabs for all goods and services. However, over the past eight years, it has been criticised for being too complex. Hence, the BJP-led central government has proposed a reform by Diwali.

GST reforms proposed: What will become cheaper after tax reduction?

To boost consumer spending, the BJP-led Central government is reportedly mulling simplifying the Goods and Services Tax (GST) structure by reducing the number of slabs, If approved, the new slabs will bring down the prices of passenger vehicles, especially cars. Here's how the lowering of GST on cars will impact their prices.<h2>What's the government's proposal on GST?</h2>The current GST structure divides goods and services into four slabs -- 5 per cent, 12 per cent, 18 per cent, and 28 per cent. The government is mulling over reducing the number of these slabs and categorising things into two main slabs -- 5 per cent and 18 per cent. A special 40 per cent slab for luxury goods will likely be introduced as well.&nbsp;99 per cent of goods and services taxed at 12 per cent may shift to the 5 per cent slab. 90 per cent of articles currently being taxed at 28 per cent might be shifted to the 18 per cent slab.<h2>How the proposed changes will impact car prices?</h2>Small cars, which attract&nbsp;28 per cent GST and an additional cess, will be moved into the 18 per cent tax bracket if the proposal is approved. However, luxury cars and SUVs might attract a 40 per cent tax.&nbsp;A report by HSBC claims that the prices of small cars may drop by at least 8 per cent. The cess can be cancelled for all cars.&nbsp;The bigger and more luxurious cars can also see a reduction in taxes in the range of 3-5 per cent.&nbsp;All two-wheeler manufacturers&nbsp;will also benefit from the reduction in GST. Domestic players will gain relatively more.&nbsp;Another scenario the report mentioned is that the government might introduce a flat reduction of GST from 28 per cent to 18 per cent across all categories of cars. In this case, the prices of cars might come down by a factor of 6-8 per cent.

To boost consumer spending, the BJP-led Central government is reportedly mulling simplifying the Goods and Services Tax (GST) structure by reducing the number of slabs in the regime.

To boost consumer spending, the BJP-led Central government is reportedly mulling simplifying the Goods and Services Tax (GST) structure by reducing the number of slabs, If approved, the new slabs will bring down the prices of passenger vehicles, especially cars. Here's how the lowering of GST on cars will impact their prices. What's the government's proposal on GST? The current GST structure divides goods and services into four slabs -- 5 per cent, 12 per cent, 18 per cent, and 28 per cent. The government is mulling over reducing the number of these slabs and categorising things into two main slabs -- 5 per cent and 18 per cent. A special 40 per cent slab for luxury goods will likely be introduced as well. 99 per cent of goods and services taxed at 12 per cent may shift to the 5 per cent slab. 90 per cent of articles currently being taxed at 28 per cent might be shifted to the 18 per cent slab. How the proposed changes will impact car prices? Small cars, which attract 28 per cent GST and an additional cess, will be moved into the 18 per cent tax bracket if the proposal is approved. However, luxury cars and SUVs might attract a 40 per cent tax. A report by HSBC claims that the prices of small cars may drop by at least 8 per cent. The cess can be cancelled for all cars. The bigger and more luxurious cars can also see a reduction in taxes in the range of 3-5 per cent. All two-wheeler manufacturers will also benefit from the reduction in GST. Domestic players will gain relatively more. Another scenario the report mentioned is that the government might introduce a flat reduction of GST from 28 per cent to 18 per cent across all categories of cars. In this case, the prices of cars might come down by a factor of 6-8 per cent.

New GST slabs proposed: The Central government has reportedly proposed to lower GST rates for majority of goods and services by Diwali. It will likely introduce two new slabs under the GST regime. It might also introduce a separate slab for luxury goods, including tobacco products.

How cheaper will cars become if GST rates are reduced by Diwali?

US retailers are warning of fewer fake Christmas trees and higher prices this holiday season, as tariffs on Chinese imports weigh on supply chains and consumer demand. According to a Reuters report, a last-minute reprieve from Washington and Beijing on August 11, granting a 90-day delay in tariff hikes has done little to ease concerns. Most retailers had already placed their seasonal orders months in advance, leaving limited room to restock shelves with fresh inventory.<h2>Retailers cut back orders</h2>Chris Butler, CEO of National Tree Company, which supplies Walmart, Home Depot, Lowe’s and Amazon, said this year’s market will see “lower supply.” His company sources around half of its trees from China, and the rest from Vietnam, Cambodia, and Thailand.&nbsp;Butler confirmed that prices on popular models, including Carolina pine, Nordic spruce, and Dunhill fir will rise between 10 to 20 per cent. Retailers, he added, are pushing companies like his to ship directly to customers, cutting back on bulk inventory purchases to reduce financial risk.<h2>China’s dominance in Christmas décor</h2>China remains the global hub for festive goods, supplying 87 per cent of US Christmas decoration imports last year, worth roughly $4 billion, according to United States International Trade Commission data cited by Reuters.&nbsp;But after US President Donald Trump first raised tariffs to 145 per cent in April before scaling them back to 30 per cent in May, retailers have been hesitant to commit to large orders at volatile price points.Mac Harman, CEO of California-based Balsam Hill, expects 15 per cent fewer trees in the market this season. “Even with the extended 90 days, it’s too late for any of us to add orders,” he told Reuters.&nbsp;Still, the pause has helped his company save around $2.5 million, underscoring how unpredictable tariff policy has become for businesses.<h2>Holiday budgets under strain</h2>The cutback in artificial trees highlights what may be a muted shopping season overall. American households are already squeezed by higher prices on essentials such as diapers, soap, and clothing.Levi Strauss recently announced it would scale back its holiday offerings, while toy makers are also feeling the pinch. Isaac Larian, CEO of MGA Entertainment maker of Bratz dolls said that even a 30 per cent tariff on toys is “still too much,” forcing the company to raise prices.<h2>Limited gains from the delay</h2>Experts caution that the 90-day delay will only help goods shipped by air. Chris Rogers of S&amp;P Global Market Intelligence noted that companies like Apple set for new product launches stand to benefit, but most retailers have already locked in their festive inventories.&nbsp;Some brands attempted to rush extra orders after the moratorium was announced, but shifting supply chains is proving complex. Dave Tu, president of DCL Logistics, which handles distribution for brands like GoPro, said that many firms that diversified away from China are now facing bottlenecks and delays as new manufacturers struggle to scale up.<h2>A muted Christmas ahead</h2>Industry groups believe that, for most retailers, this season’s inventory is already fixed. Matt Priest, CEO of the Footwear Distributors and Retailers of America, summed it up bluntly: “Holiday inventory is what it is.”&nbsp;Despite the reprieve, American shoppers can expect fewer fake firs and higher price tags, making this festive season a test of both retailers’ resilience and household budgets.&nbsp;(With inputs from the agencies)&nbsp;

With households already squeezed by higher costs on essentials and toys also set to get pricier, this year’s holiday season may see muted shopping and tighter budgets.

US retailers are warning of fewer fake Christmas trees and higher prices this holiday season, as tariffs on Chinese imports weigh on supply chains and consumer demand. According to a Reuters report, a last-minute reprieve from Washington and Beijing on August 11, granting a 90-day delay in tariff hikes has done little to ease concerns. Most retailers had already placed their seasonal orders months in advance, leaving limited room to restock shelves with fresh inventory. Retailers cut back orders Chris Butler, CEO of National Tree Company, which supplies Walmart, Home Depot, Lowe’s and Amazon, said this year’s market will see “lower supply.” His company sources around half of its trees from China, and the rest from Vietnam, Cambodia, and Thailand. Butler confirmed that prices on popular models, including Carolina pine, Nordic spruce, and Dunhill fir will rise between 10 to 20 per cent. Retailers, he added, are pushing companies like his to ship directly to customers, cutting back on bulk inventory purchases to reduce financial risk. China’s dominance in Christmas décor China remains the global hub for festive goods, supplying 87 per cent of US Christmas decoration imports last year, worth roughly $4 billion, according to United States International Trade Commission data cited by Reuters. But after US President Donald Trump first raised tariffs to 145 per cent in April before scaling them back to 30 per cent in May, retailers have been hesitant to commit to large orders at volatile price points. Mac Harman, CEO of California-based Balsam Hill, expects 15 per cent fewer trees in the market this season. “Even with the extended 90 days, it’s too late for any of us to add orders,” he told Reuters. Still, the pause has helped his company save around $2.5 million, underscoring how unpredictable tariff policy has become for businesses. Holiday budgets under strain The cutback in artificial trees highlights what may be a muted shopping season overall. American households are already squeezed by higher prices on essentials such as diapers, soap, and clothing. Levi Strauss recently announced it would scale back its holiday offerings, while toy makers are also feeling the pinch. Isaac Larian, CEO of MGA Entertainment maker of Bratz dolls said that even a 30 per cent tariff on toys is “still too much,” forcing the company to raise prices. Limited gains from the delay Experts caution that the 90-day delay will only help goods shipped by air. Chris Rogers of S&P Global Market Intelligence noted that companies like Apple set for new product launches stand to benefit, but most retailers have already locked in their festive inventories. Some brands attempted to rush extra orders after the moratorium was announced, but shifting supply chains is proving complex. Dave Tu, president of DCL Logistics, which handles distribution for brands like GoPro, said that many firms that diversified away from China are now facing bottlenecks and delays as new manufacturers struggle to scale up. A muted Christmas ahead Industry groups believe that, for most retailers, this season’s inventory is already fixed. Matt Priest, CEO of the Footwear Distributors and Retailers of America, summed it up bluntly: “Holiday inventory is what it is.” Despite the reprieve, American shoppers can expect fewer fake firs and higher price tags, making this festive season a test of both retailers’ resilience and household budgets. (With inputs from the agencies)

US retailers are bracing for fewer artificial Christmas trees and steeper prices this holiday season, despite Washington and Beijing granting a 90-day delay in tariff hikes, Reuters reported.&nbsp;

China tariff delay fails to save US Christmas shopping season

Despite tariff disruptions, India's smartphone exports grew leaps and bounds. In the first four months of the financial year 2026 (April to July), smartphone exports hit the $10 billion mark, a giant 52 per cent hike from $6.4 billion during the same months last financial year. Amid pressure from the Donald Trump administration to manufacture its products in America, Apple led from the front as its iPhone exports rose 63 per cent to $7.5 billion in April-July this year.&nbsp;After the Covid fiasco in China and geopolitical rivalries, Apple had decided to diversify its manufacturing by focusing on countries like India and Vietnam. However, ever since Donald Trump became the President of the United States, the California-based company has been facing pressure to manufacture in America.<h2>Apple's share in smartphone exports rises to 75 per cent</h2>Foxconn, Pegatron, and Tata Electronics, the firms that manufacture iPhones in India, contributed over $7.5 billion to India's total smartphone exports, a whopping 75 percent market share.<h2>Samsung's export declines</h2>Samsung's exports, however, dropped in the April-July quarter compared to the corresponding period last year. Its exports fell from $1.54 billion to $1.24 billion.&nbsp;According to Business Standard, experts highlight cost disadvantages in manufacturing in India, compared with China and Vietnam.&nbsp;Apple manufactures the majority of its products in China, a manufacturing powerhouse. Samsung, Apple's biggest rival, relies on Vietnam, an emerging Southeast Asian manufacturing hub.<h2>India's overshipments grew</h2>Overall, India's electronics shipments grew 43.7 per cent in the first four months -- from $11.24 billion to $16.15 billion. Smartphones accounted for 41 per cent of electronics exports.&nbsp;Last month, Donald Trump imposed 50 per cent tariffs on India for buying oil and weapons from Russia.&nbsp;The US accused India of funding Moscow's war in Ukraine by buying Russian products. New Delhi, however, says that by buying discounted Russian oil, it is doing what is good for its people.

Despite tariff disruptions, India's smartphone exports grew leaps and bounds. In the first four months of the financial year 2026 (April to July), smartphone exports hit the $10 billion mark, a giant 52 per cent hike from $6.4 billion during the same months last financial year. 

Despite tariff disruptions, India's smartphone exports grew leaps and bounds. In the first four months of the financial year 2026 (April to July), smartphone exports hit the $10 billion mark, a giant 52 per cent hike from $6.4 billion during the same months last financial year. Amid pressure from the Donald Trump administration to manufacture its products in America, Apple led from the front as its iPhone exports rose 63 per cent to $7.5 billion in April-July this year. After the Covid fiasco in China and geopolitical rivalries, Apple had decided to diversify its manufacturing by focusing on countries like India and Vietnam. However, ever since Donald Trump became the President of the United States, the California-based company has been facing pressure to manufacture in America. Apple's share in smartphone exports rises to 75 per cent Foxconn, Pegatron, and Tata Electronics, the firms that manufacture iPhones in India, contributed over $7.5 billion to India's total smartphone exports, a whopping 75 percent market share. Samsung's export declines Samsung's exports, however, dropped in the April-July quarter compared to the corresponding period last year. Its exports fell from $1.54 billion to $1.24 billion. According to Business Standard, experts highlight cost disadvantages in manufacturing in India, compared with China and Vietnam. Apple manufactures the majority of its products in China, a manufacturing powerhouse. Samsung, Apple's biggest rival, relies on Vietnam, an emerging Southeast Asian manufacturing hub. India's overshipments grew Overall, India's electronics shipments grew 43.7 per cent in the first four months -- from $11.24 billion to $16.15 billion. Smartphones accounted for 41 per cent of electronics exports. Last month, Donald Trump imposed 50 per cent tariffs on India for buying oil and weapons from Russia. The US accused India of funding Moscow's war in Ukraine by buying Russian products. New Delhi, however, says that by buying discounted Russian oil, it is doing what is good for its people.

Apple's share in India's smartphone manufacturing in the first quarter of the financial year 2026 was 75 per cent. Riding on the smartphone wave, India's overall electronics exports also grew. However, Samsung's exports declined.

Amid US tariff pressure, Apple leads India's massive smartphone export surge

Shein, the fast-fashion giant known for its ultra-cheap and trendy clothing, is considering moving its legal base back to mainland China as part of efforts to push through its long-delayed stock market listing in Hong Kong. According to Bloomberg, the Singapore-domiciled retailer has held preliminary discussions with lawyers about setting up a parent company in China. The move is aimed at winning Beijing’s blessing for an initial public offering (IPO) in Hong Kong, after failed attempts to go public in New York and London.<h2>Running out of IPO options</h2>Shein’s road to the stock market has been riddled with obstacles. The company abandoned a New York IPO in 2023 amid political backlash in the US over allegations of forced labour in its supply chain, charges the firm has denied, saying it maintains a “zero-tolerance” policy. A subsequent plan to list in London also stalled after Beijing withheld approval, forcing Shein to shift focus to Hong Kong.&nbsp;Now, with a confidential filing already submitted in the city, the company faces pressure to secure regulatory clearance from China’s securities watchdog. Bloomberg reports that relocating its corporate base back to the mainland could strengthen its case, as it would make Shein’s income taxable in China and place its trove of consumer data directly under Beijing’s oversight, both key factors for regulatory approval.<h2>Data, taxes, and political control</h2>Since 2023, China has required all companies with substantial ties to the country to undergo a data security review before pursuing overseas IPOs. Even though Shein is headquartered in Singapore, it still falls under this framework due to its deep reliance on China’s vast garment manufacturing supply chain.&nbsp;Analysts say that moving back to China could help the company clear these hurdles more smoothly. Once a mainland entity is created, Shein’s Singapore office and overseas operations would function as subsidiaries, Bloomberg noted.<h2>Valuation pressures mount</h2>Beyond regulatory challenges, Shein has seen its valuation tumble. Once worth around $100 billion in 2021, the company has been forced to slash its value to roughly $30 billion, according to Bloomberg. Fierce competition from rival Temu in the US and Europe, as well as Washington’s decision to close the “de minimis” tariff loophole that had allowed Shein to ship low-value parcels duty-free, have added further strain on its business model.&nbsp;The uncertainty has rattled investor confidence. Shares of some Shein-linked companies, such as Kengic Intelligent Technology, which provides warehouse automation services, surged more than 17 per cent in trading after Bloomberg reported news of the possible move.<h2>A turnaround from Singapore strategy</h2>If Shein does go ahead with shifting its domicile, it would mark a reversal of its 2021 strategy, when it relocated headquarters to Singapore to present itself as a global, rather than Chinese, company. But the commercial reality appears to have caught up: without Beijing’s blessing, the Hong Kong IPO seen as one of the city’s most high-profile listings this year, cannot proceed.&nbsp;For Shein, founded in Nanjing in 2008, the stakes are high. The company’s long-awaited public debut could help it raise fresh capital to fight rivals and expand globally, but the decision on whether to approve the IPO lies firmly in Beijing’s hands.&nbsp;(With inputs from the agencies)&nbsp;

The Singapore-domiciled company has faced repeated hurdles listing overseas, abandoning New York amid US political backlash and shelving London plans after Chinese regulators withheld clearance. 

Shein, the fast-fashion giant known for its ultra-cheap and trendy clothing, is considering moving its legal base back to mainland China as part of efforts to push through its long-delayed stock market listing in Hong Kong. According to Bloomberg, the Singapore-domiciled retailer has held preliminary discussions with lawyers about setting up a parent company in China. The move is aimed at winning Beijing’s blessing for an initial public offering (IPO) in Hong Kong, after failed attempts to go public in New York and London. Running out of IPO options Shein’s road to the stock market has been riddled with obstacles. The company abandoned a New York IPO in 2023 amid political backlash in the US over allegations of forced labour in its supply chain, charges the firm has denied, saying it maintains a “zero-tolerance” policy. A subsequent plan to list in London also stalled after Beijing withheld approval, forcing Shein to shift focus to Hong Kong. Now, with a confidential filing already submitted in the city, the company faces pressure to secure regulatory clearance from China’s securities watchdog. Bloomberg reports that relocating its corporate base back to the mainland could strengthen its case, as it would make Shein’s income taxable in China and place its trove of consumer data directly under Beijing’s oversight, both key factors for regulatory approval. Data, taxes, and political control Since 2023, China has required all companies with substantial ties to the country to undergo a data security review before pursuing overseas IPOs. Even though Shein is headquartered in Singapore, it still falls under this framework due to its deep reliance on China’s vast garment manufacturing supply chain. Analysts say that moving back to China could help the company clear these hurdles more smoothly. Once a mainland entity is created, Shein’s Singapore office and overseas operations would function as subsidiaries, Bloomberg noted. Valuation pressures mount Beyond regulatory challenges, Shein has seen its valuation tumble. Once worth around $100 billion in 2021, the company has been forced to slash its value to roughly $30 billion, according to Bloomberg. Fierce competition from rival Temu in the US and Europe, as well as Washington’s decision to close the “de minimis” tariff loophole that had allowed Shein to ship low-value parcels duty-free, have added further strain on its business model. The uncertainty has rattled investor confidence. Shares of some Shein-linked companies, such as Kengic Intelligent Technology, which provides warehouse automation services, surged more than 17 per cent in trading after Bloomberg reported news of the possible move. A turnaround from Singapore strategy If Shein does go ahead with shifting its domicile, it would mark a reversal of its 2021 strategy, when it relocated headquarters to Singapore to present itself as a global, rather than Chinese, company. But the commercial reality appears to have caught up: without Beijing’s blessing, the Hong Kong IPO seen as one of the city’s most high-profile listings this year, cannot proceed. For Shein, founded in Nanjing in 2008, the stakes are high. The company’s long-awaited public debut could help it raise fresh capital to fight rivals and expand globally, but the decision on whether to approve the IPO lies firmly in Beijing’s hands. (With inputs from the agencies)

Fast-fashion retailer Shein is weighing a move to shift its legal base back to mainland China in a bid to secure Beijing’s approval for its stalled Hong Kong IPO, Bloomberg reported.

Shein weighs return to China to secure Hong Kong IPO approval