INTEREST RATES FOR SENIOR CITIZENS
Rebel TMC MPs announce merger with Nationalist Citizens Party, seek separate seating in Lok Sabha
A significant split is unfolding within the Trinamool Congress. Rebel MPs have announced their merger with the Nationalist Citizens Party. They met Lok Sabha Speaker Om Birla to request separate seating arrangements in Parliament. This move signals a major challenge to Mamata Banerjee's leadership. The party's electoral symbol is also a point of contention. The situation is developing rapidly.
Senior citizens FD interest rates up to 8.3%: SBI, HDFC Bank, PNB, ICICI Bank, Axis Bank and more
Highest FD interest rate: Senior citizens seeking lucrative returns on their savings can now explore attractive fixed deposit options. Small finance banks like Unity SFB and Shivalik SFB are leading the pack, offering an impressive 8.3% interest rate on FDs for this demographic. This presents a significant opportunity for retirees to boost their earnings.
5 small savings schemes offering up to 8.2% interest rate in 2026: SCSS, PPF, NSC and more
Small savings schemes, popular for conservative investors, will retain their interest rates for the April-June 2026 quarter, offering returns up to 8.2% per annum. Schemes like SCSS and SSA provide attractive rates, while NSC, MIS, and PPF offer stable returns with tax benefits for long-term wealth creation.
What are US stock market, gold and silver price prediction for Monday? Market outlook after Wall Street gains and metals movement
What are US stock market, gold and silver price prediction for Monday? Investors are assessing Wall Street's latest gains, developments in U.S.-Iran talks, Federal Reserve expectations, and movements in gold and silver prices. SpaceX's market debut lifted sentiment, while lower oil prices eased inflation concerns. Analysts expect markets to remain focused on interest rates, economic data, and geopolitical developments when trading resumes on Monday.
Gold heads for second weekly loss on rate rise expectations
Gold prices are heading for a second weekly loss as expectations of higher interest rates, driven by persistent inflation concerns, weigh on the non-yielding metal. Traders are anticipating a potential U.S. rate hike by December, while the Federal Reserve's upcoming policy meeting is expected to hold rates steady.
Wall Street Week Ahead: Newly led Fed poses wildcard for rockier US indexes
Investors are closely watching the Federal Reserve's first meeting under new Chair Kevin Warsh amid concerns that interest rate hikes to combat inflation could negatively impact the stock market. While the Fed is expected to hold rates steady for now, market participants will scrutinize future projections and Warsh's communication for clues on potential rate increases later this year.
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PNB, Ujjivan raise FCNR deposit rates
Punjab National Bank and Ujjivan Small Finance Bank have raised interest rates on FCNR(B) USD deposits for Non-Resident Indians. This move follows the RBI's announcement of a foreign currency swap window. Bank of Baroda has also introduced a new retail term deposit scheme for resident Indians. These initiatives aim to attract foreign capital and offer attractive returns to depositors.
Somanna flags off Madgaon-Karwar express boosting connectivity between Karnataka & Goa
A new train service, the Madgaon–Karwar Express, has been launched. Union Minister V Somanna flagged off the service from Madgaon Railway Station. This initiative enhances rail connectivity between Goa and Karnataka's coastal regions. The service aims to offer convenient travel for commuters, students, tourists, and business travelers. It is expected to boost tourism, trade, and socio-economic development in the area.
PPF, SCSS and NSC have outperformed equity in last 2 years, but should you write off equities?
Small savings schemes vs Nifty indices: While equities have shown muted returns recently, small savings schemes have offered stable returns of up to 8.2%. Despite short-term volatility in indices like Nifty 100 and Nifty Midcap 150, small savings schemes provide a reliable option for conservative investors. Equities, however, offer superior long-term wealth creation potential for those with a higher risk tolerance and a longer investment horizon.
Revised FCNR interest rates up to 7.13%: PNB, ICICI Bank, Axis Bank and others revise rates
FCNR interest rates: Banks are increasing interest rates on Foreign Currency Non-Resident (FCNR-B) deposits for NRIs, OCIs, and POIs. This follows the RBI's announcement to cover hedging costs for new 3 to 5-year deposits until September 2026. Axis Bank now offers up to 6% on these schemes for select tenures.
US jobless aid filings rise to 229,000 last week, remain historically low despite Iran war headwinds
America's jobless claims saw a slight increase last week, yet remain historically low. This comes despite economic challenges linked to the war in Iran. Hiring has shown improvement in recent months, with employers adding jobs. Consumer inflation has risen due to higher oil and gas prices. The Federal Reserve is expected to maintain interest rates.
FD interest rates up to 7.80%: These 2 banks have increased fixed deposit rates on select tenures; investors to earn more
HIghest FD interest rates: Unity Small Finance Bank and AU Small Finance Bank have revised their fixed deposit interest rates, offering enhanced returns for depositors. Unity Bank now provides 7.80% for general investors and 8.30% for senior citizens on its 501-day FD. AU Small Finance Bank has increased its 30-month FD rate to 7.40% for general customers and 7.90% for seniors.
Latest FCNR interest rates: HDFC Bank, SBI, ICICI Bank, PNB, Central Bank of India, BoB and more
Several Indian banks have updated their Foreign Currency Non-Resident Bank FCNR(B) interest rates. This comes after the government announced it would cover hedging costs for new 3 to 5 year FCNR(B) deposits. This initiative benefits Non-Resident Indians and others. Central Bank of India is offering a 6% interest rate on these deposits.
Bond traders keep bets on Fed hike in 2026
Bond traders maintain expectations for a Federal Reserve interest rate hike by year-end, despite a softer US core inflation reading. This eased immediate pressure on the Fed to act sooner, allowing for a "wait and see" approach. The core CPI's 0.2% rise from April fell short of the 0.3% consensus forecast.
FCNR deposit in demand: $1,277 extra interest on $10,000 investment by NRIs after RBI's latest move?
FCNR interest rates: The Indian government will now cover hedging costs for fresh 3 to 5-year FCNR(B) deposits until September 30, 2026. This move allows banks to offer higher interest rates to Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs). An NRI may now earn an additional $1,277 on a $10,000, 5-year FCNR(B) deposit.
Gold drops as oil climbs on renewed US-Iran hostilities
Gold prices dropped over 1% as rising oil prices, fueled by renewed U.S.-Iran hostilities, heightened inflation and interest rate hike concerns. Traders are now pricing in a high probability of a Federal Reserve rate increase by December. Key U.S. inflation reports are anticipated this week.
HDFC Bank raises MCLR by up to 10 bps across select tenors
Following the revision, the bank's MCLR, which is the lender's internal benchmark for pricing loans, stands in the range of 8.05% to 8.65%, compared with 8.05% to 8.60%, previously. The steepest increase was in the two-year tenor, where the rate was raised by 10 bps to 8.55%. The benchmark one-year MCLR, which serves as the reference rate for most retail loans including home, was increased by 5 bps to 8.40%.
Highest FD interest rates of 5 major banks: SBI, PNB, HDFC Bank, ICICI Bank and Bank of Baroda
Despite the RBI maintaining the repo rate at 5.25%, major banks like SBI, HDFC, ICICI, PNB, and Bank of Baroda are offering competitive fixed deposit interest rates. These attractive rates, particularly for senior citizens, vary across different tenures, with some reaching up to 7.1%.
8th Pay Commission latest news: Railway pensioners' body demands one rank one pension, inflation-linked pension revision
Retired railway employees are urging the 8th Pay Commission to implement one rank one pension. They also demand a revision of basic pay and increments to combat inflation. The association seeks improved allowances, welfare benefits, and retirement provisions.
Fed Interest Rate cut prediction, date: What to expect from US Central Bank officials at Federal Reserve meeting?
A number of Fed policymakers have begun to speculate that interest rates may need to rise to ensure that the central bank's key inflation gauge - the Personal Consumption Expenditures Price Index - moves back to its 2 per cent target.
HDFC Bank borrower alert: EMIs on these loans to cost more as bank raises lending rates by up to 10 bps
HDFC Bank has increased its Marginal Cost of Funds-based Lending Rates (MCLR) by up to 10 basis points, effective June 8, 2026. The revised rates now range from 8.05% to 8.65% across various loan tenures. This adjustment follows the Reserve Bank of India's decision to maintain the repo rate at 5.25%.
Gold extends losses on US interest rate-hike fears
Gold prices dipped on Monday, extending previous losses amid U.S. interest rate hike fears. Meanwhile, escalating tensions in the Gulf sent oil prices soaring, fueling inflation concerns. China's central bank continued to increase its gold reserves. Gold demand in India remained subdued due to price volatility. Silver and platinum prices also saw a decline, while palladium experienced a slight increase.
Banks to be told to step up FCNR (B) deposits
Banks will now encourage more foreign currency deposits. The Reserve Bank of India will cover all hedging costs for these deposits. This move aims to attract significant foreign currency inflows. Industry estimates suggest up to $40 billion could be raised. These measures will strengthen India's foreign exchange reserves. This will help manage rupee depreciation pressures.
Rs 20,000 monthly income from SCSS: How senior citizens can earn regular interest income for at least 5 years
The Senior Citizens Savings Scheme (SCSS) offers a stable 8.2% annual interest rate, ideal for retirees seeking predictable income. To earn Rs 20,000 monthly, an investment of approximately Rs 29.30 lakh is required, well within the Rs 30 lakh maximum limit. Interest is paid quarterly, and investments qualify for Section 80C tax benefits under the old tax regime.
Paying beyond disclosed rates to attract deposits not acceptable: RBI Guv Sanjay Malhotra
Reserve Bank Governor Sanjay Malhotra stated that paying interest rates higher than disclosed is unacceptable to the central bank. While acknowledging healthy competition for deposits, he stressed the need for transparency from banks. Malhotra also indicated an upcoming updated list of upper layer NBFCs.
FD interest rate up to 8.05%: 4 banks that revised FD interest rates in June 2026
Fixed deposit investors are watching interest rates closely. Several banks have revised their FD rates in June 2026. Savers can lock in attractive returns with some banks offering up to 8% interest to senior citizens on select tenures.
Differential deposit rates permitted but must be transparent, says RBI Governor amid HDFC Bank row
The Reserve Bank of India permits banks to offer different interest rates on deposits. These rates must be transparent and follow specific rules. This comes after allegations that HDFC Bank routed differential interest payments to a state agency through its marketing budget. HDFC Bank has denied these claims, stating its internal controls are strong.
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