DEPOSITS
When every bank has an app, what actually makes digital banking different?
With UPI resetting customer expectations, the real differentiator in digital banking is no longer having an app, but how seamlessly it brings payments, savings, investments and credit together in one place.
NMDC in talks with Russia's Rosatom over lithium investments, sources say
Indian state-run miner NMDC Ltd is in talks with Russia's Rosatom to invest in lithium projects. These discussions are part of India's strategy to secure supplies for battery and EV industries. NMDC aims to enhance its global mineral diversification strategy and has formed a team for due diligence. The Indian government is investing in domestic processing of critical minerals to reduce import dependence.
Coinbase flags issues with DOT deposits, withdrawals
Coinbase has shared that some users might be seeing delays when sending or receiving on the DOT network.
Cement trader deposits Rs 14.74 lakh during demonetisation, gets tax notice over Rs 5.72 lakh unexplained cash; wins case in ITAT Cuttack
Mr. Patra, a cement trader from Balasore, encountered problems with the Income Tax Department over cash deposits that were deemed unexplained. Following an injury, he challenged the authorities' findings by presenting evidence from his cash books. The Income Tax Appellate Tribunal reviewed the case and confirmed that he had sufficient cash on hand, ultimately deciding to classify the disputed amount as explained, resolving the legal troubles.
Woman expects 12% interest on fixed deposit, puts Rs 9.5 lakh in Karnataka society, fails to recover money after maturity, consumer court orders society to pay Rs 17.63 lakh
A woman and her family member deposited money in a Karnataka credit society, expecting returns of up to 12% on their fixed deposits. They later struggled to recover their money, including a deposit that had matured. The consumer commission has now ordered the society's office-bearers to repay Rs 17.63 lakh with interest, compensation and legal costs.
FCNR(B) interest bill to keep dollar hedging costs high
As a multibillion-dollar FCNR(B) interest bill escalates, Indian banks grapple with increased dollar hedging expenses. Recently, the Reserve Bank of India mandated new reserve prerequisites for forex derivatives, compounding the challenges for banks that must secure cash reserves against these contracts. A significant number of Indian banks are currently without a robust hedging strategy, frequently depending on short-term contracts.
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Woman deposits Rs 1 lakh in post office, postmaster issues receipt but no certificate, then runs away with her money; court orders department to pay her Rs 1.15 lakh
A woman above 60 deposited Rs 1 lakh at Karnataka's Kodikoppa Post Office for a Senior Citizens' Savings Scheme account and Rs 500 for a savings account on November 14, 2023. After receiving neither certificate nor passbook, she approached the consumer commission, which ordered a refund with 6% interest, compensation and litigation costs.
DA hike: Diwali bonanza for UP govt employees, 63% raise announced; revised rates effective from July 1
The revised allowance will be reflected in the November salary, while the arrears for the preceding four months will be deposited separately into their provident fund accounts. The announcement comes ahead of Diwali, with the revised allowance set to benefit a large section of the state's workforce.
FD rate up to 8.6% for senior citizens investing for five years; know the list of banks
Senior citizens can invest in fixed deposits with interest rates reaching up to 8.6%. Suryoday Small Finance Bank leads with these attractive rates for a five-year term. Jana Small Finance Bank follows, offering an 8% interest rate on similar deposits.
India's forex reserves fall $2.6 billion to $717 billion as of October 30
India's foreign exchange reserves fell by $2.691 billion to $717.056 billion in the week ended October 30, extending a decline from their September peak. Experts attribute the drawdown partly to the deployment of FCNR(B) funds and RBI's dollar sales to support the rupee, while foreign currency and gold assets declined.
HDFC Bank increases FD interest rates by up to 50 bps: Senior citizens can now earn up to 7.20%; check revised rates
Latest HDFC Bank FD interest rates: HDFC Bank has updated its fixed deposit interest rates as of November 4, 2026. Senior citizens can now secure a top interest rate of 7.20% for deposits ranging from 3 years and 1 day to 5 years. For general customers, the maximum interest rate is set at 6.60% for deposits held between 5 years and 1 day to 10 years.
HDFC Bank to offer deposits under Capital Gains Accounts Scheme
HDFC Bank has received government authorisation to offer deposits under the Capital Gains Accounts Scheme (CGAS), 1988. The facility will allow taxpayers to park unused capital gains in savings accounts or fixed deposits for up to three years while retaining eligibility for applicable tax exemptions and earning interest on their deposits.
FD interest rates up to 8.60% in November 2026: Compare revised rates of Kotak Mahindra Bank, Axis Bank, Suryoday SFB and Utkarsh SFB
Highest FD interest rates: Several banks have recently raised their fixed deposit interest rates on selected tenures for depositors. Kotak Mahindra Bank and Axis Bank now offer higher rates for general customers and senior citizens.
Insurance agent deposits Rs 35 lakh cash collected from policyholders in his bank account, gets tax notice; he fights and wins in ITAT Jaipur
Policyholders gave Rs 35 lakh cash as insurance premiums which agent deposited in his bank a/c; Income Tax Dept sent agent notice for unexplained cash; he wins case in ITAT Jaipur.
Son gets income tax notice for Rs 33.23 lakh in property investment and cash; he gets relief in ITAT Jaipur for this reason
Mother sold 642 grams gold jewellery, gifts the amount to son via notarised gift deed, son buys property and deposits cash in bank but gets income tax notice for unexplained property investments and cash deposits; he wins case in ITAT Jaipur for this reason.
Loan growth, fall in provisions help SBI profits in Q2
State Bank of India reported a 14% year-on-year rise in Q2 FY27 net profit to Rs 23,038 crore, driven by 18% loan growth, higher net interest income, lower deposit costs and reduced loan loss provisions.
SBI targets 14-15 pc credit growth, govt may revisit LTCG tax amid FPI outflows: Chairman CS Setty
Speaking exclusively to following the bank's Q2 FY27 financial results presentation, Setty expressed confidence in sustaining credit growth despite concerns over rising borrowing costs and competition for deposits.
A month after RBI’s rate hike, banks start raising deposit rates as liquidity shrinks, Bank of India the latest to move
Domestic banks are beginning to increase their deposit rates due to shrinking liquidity conditions in the market. Bank of India recently announced a rate hike on deposits for various maturities, including a special 500-day option. This decision reflects the growing cost of deposits in the banking system as demand for credit rises. Banking system liquidity has significantly decreased from its peak in early September.
PNB, Canara Bank revise FD interest rates: Senior citizens can earn up to 7.25%; compare latest rates
HIghest FD interest rate: Punjab National Bank and Canara Bank have updated their fixed deposit interest rates effective from November 2026. Bank of India also revised its fixed deposit interest rates recently with competitive offers.
Bank CD rates surge above 8% amid liquidity squeeze, rising T-Bill yields
Public-sector banks have recently increased one-year certificate of deposit rates beyond 8%, influenced by stricter liquidity and high treasury-bill yields. The reduction in banking liquidity has led to a noticeable rise in CD issuances lately. Observers predict further policy rate hikes to address inflation effectively, signaling that the current rates may not yet reflect their maximum potential amidst ongoing market fluctuations.
SBI Q2 Results Preview: PAT may rise up to 25% YoY; NII, margins, deposit growth in focus
State Bank of India will announce Q2FY27 results on November 3, with brokerages forecasting 11-13% NII growth and up to 25.2% profit growth. Investors will track margins, loan growth, deposits, credit costs and asset quality.
Bank of India revises FD interest rates: Launches 500-day fixed deposit offering 7.35% rate to senior citizens
Bank of India latest FD interest rates: Effective November 2, 2026, Bank of India has revised its fixed deposit interest rates across various terms. A new option, the 500-day BOI Akshay Deposit, has been introduced with attractive rates specifically for senior and super senior citizens. Regular depositors can enjoy a competitive interest rate of 6.85%. With a minimum investment amount set at Rs 10,000, this offers a great opportunity for secure savings.
FCNR bounty in Q2 masks bank issues in growing deposits
An analysis of 10 banks shows that reported deposit growth averaged 21.1% year-on-year during July-September. However, excluding the special foreign currency inflows, domestic deposit growth was estimated at just 12.2%-a massive gap of nearly nine percentage points.
Bank of Baroda Q2 profit jumps 36% to Rs 6,532 crore on NSE stake sale
Bank of Baroda reported 36% year-on-year profit growth to Rs 6,532 crore in Q2FY27, boosted by NSE stake sale gains and higher interest income. The lender raised annual credit and deposit growth guidance amid strong loan demand.
Bank loans against fixed deposits surge 53% to Rs 2.17 lakh crore on FCNR-B leverage play
By the close of September, loans against fixed deposits experienced a striking 53% year-on-year spike, reaching Rs 2.17 lakh crore. The demand for gold loans soared to an astonishing 82.6% increase, showcasing robust customer interest throughout India. Personal loans appreciated by 17.3%, hitting Rs 74.3 lakh crore, complemented by growth in agricultural and industrial credits. Overall, the banking sector reported a 19.4% expansion in total credit, amounting to Rs 229.
PSU banks cut fresh deposit rates more sharply than private lenders in September: RBI data
In September, public sector banks cut their interest rates on fresh term deposits by 10 basis points. Private sector banks only reduced their rates by six basis points during the same period. Fresh rupee loan rates declined by six basis points at public sector banks while private banks maintained their rates. The weighted average lending rate for fresh loans fell to 8.51% from 8.61% in August.
Bank of Baroda’s FCNR(B) deposits surge nearly sixfold to Rs 1.03 lakh crore
Bank of Baroda's FCNR-B deposits rose to ₹1.03 lakh crore as of September 2026, reflecting substantial growth. The overall global deposits of the bank increased 16.4% year-on-year to reach ₹17.45 lakh crore. Domestic deposits also saw a marked increase of 16.6%, driven by term deposits growing 20.5%. Additionally, the bank reported a 35.8% rise in standalone net profit for the second quarter of FY27.
Bank credit growth outpaces deposits at 17.94% as festive demand picks up
Bank credit expanded significantly, reaching Rs 232.54 lakh crore by mid-October 2026, showing a strong 17.94 percent growth. In contrast, bank deposits increased to Rs 284.37 lakh crore, marking a 16.60 percent rise. This growth was fueled by increased liquidity in the banking system and festive season demand. Additionally, commercial banks saw a 9.64 percent rise in government securities, totaling Rs 77.32 lakh crore.
Rs 36.4 lakh fraud in Post Office through NSC and term deposit: India Post employees convicted; Madhya Pradesh HC grants relief to depositors
Employees at the Bina branch of India Post defrauded depositors out of Rs 36.4 lakh through forged documents. The Madhya Pradesh High Court has ordered the postal department to refund the victims with applicable interest. This decision follows a case where the victims were misled by unauthorized employees posing as authorized staff. The High Court's ruling emphasizes the trust placed in the postal employees by the victims.
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