Banks

Banks in many nations, including India, typically closed on May 1, called Labour Day. May 1 is also Maharashtra Day, which marks the creation of the state of Maharashtra in India. Let us check the list of bank holidays in May.

Short-term FDs are reliable assets that may help investors diversify their portfolios while reducing risk. The following 24 banks provide the highest interest rates for 6-month to 1-year fixed deposits.

The Reserve Bank of India has cautioned lenders against charging interest from the date of loan sanction instead of the actual disbursement date. This practice can lead to additional interest costs for borrowers and violates fair lending practices.

The bank holidays list for May has been released by the Reserve Bank of India (RBI) . The list states that banks in India will be closed for 14 days next month. These bank holidays include religious holidays, Lok Sabha Election 2024 holidays, all Sundays and the second and fourth Saturdays.

Lok Sabha elections 2024: The city is subject to prohibitory orders under Section 144 of the CrPC from 6 pm on April 24 to midnight on April 26. These orders restrict gatherings, rallies, possession of weapons, provocative speeches, and public display of political slogans.

A Bench of Justice GS Patel and Madhav Jamdar pronounced the verdict in a clutch of petitions challenging the LOCs issued to restrain people who are indebted to public sector banks from travelling abroad.

Paytm, operated by One97 Communications, has received approval from NPCI to migrate users to new PSPs managed by banks, ensuring uninterrupted UPI services after its banking unit ceased operations. Users will authorize the transition to new UPI IDs associated with SBI, Axis Bank, HDFC Bank, or YES Bank. This transition aligns with regulatory requirements and enables Paytm to maintain seamless UPI services.

Ram Navami 2024: The Reserve Bank of India publishes list of bank holidays on its official website. According to the official bank holiday calendar of the RBI, both public and private sector banks will remain closed on Wednesday, April 17, in observance of Ram Navami. 

Nashik, situated on the banks of the Godavari River in Maharashtra, is not only a district but also a significant Lok Sabha constituency of the state. The Nashik Lok Sabha constituency encompasses the Sinnar, Deolali, Nashik East, Nashik Central, Nashik West, and Igatpuri Assembly seats.

These rules aim to curb the practice of banks and finance companies imposing additional fees on borrowers for late payments or breaches of loan terms. Under the new directives, banks are prohibited from charging penal interest on late Equated Monthly Installment (EMI) payments and from adding extra charges to the interest rate.

The RBI last year announced that the Rs 2,000 bank notes were to be discontinued from circulation, and urged the public to deposit them in banks or exchange them.  As of February 29, the RBI said that approximately 97.62% of the Rs 2,000 currency notes have been returned to the banking system. 

Banks nationwide will remain open on Sunday, March 31, as per RBI's directive for fiscal year closure. NEFT and RTGS transactions will run until midnight. Government transactions including pensions, savings schemes, and Relief Bonds will be processed. Commercial banks act as agents for RBI, aiding in government banking needs. Central Accounts Division in Nagpur manages government accounts efficiently.

The "best" time to invest in the stock market depends on individual factors such as financial goals, risk tolerance, and investment horizon rather than timing the market. However, some principles can guide investment decisions:

his remarkable increase, observed over the past 18 days, is attributed to heightened demand driven by central banks purchasing gold reserves and speculation surrounding potential interest rate cuts by the US Federal Reserve

The RBI's statement highlights that if NPCI grants TPAP status to OCL, the '@paytm' handles should seamlessly migrate from Paytm Payments Bank to newly identified banks to prevent disruptions.