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The company behind Trump Mobile, T1 Mobile LLC, recently changed the fine print on its website. This change is worrying some buyers who deposited $100 for the Trump-branded gold phone. The company has recently updated its preorder terms and conditions to clarify that it “does not guarantee that a Device will be produced or made…
MUMBAI: Indian banks are navigating a paradox where credit growth is outstripping deposit growth but margins are under pressure. On paper, a scenario where credit outstrips deposit growth should be a recipe for soaring profitability. However, a deeper look into the recent earnings calls of major public sector lenders shows that margins remain under pressure…
Mumbai: Banking data for the fortnight ended April 15, 2026 showed a sharp contraction in deposits and advances after a surge at the March 31 year-end, highlighting the scale of balance sheet adjustments and exposing the window dressing in the system. Bank deposits fell from Rs 267.8 lakh crore on March 31 to Rs 261.9…
MUMBAI : Multiple reports show that bankers are bracing for slower credit offtake in FY27 after a high base in FY26, with deposit mobilisation emerging as a constraint on margins.According to a survey by the Indian Banks Association and Ficci, lenders have entered FY27 with a constructive but more calibrated outlook, with nearly 71% of…
MUMBAI: With credit growth at 14.5% outpacing deposit growth at 11.9% as of Feb 28, banks have stepped up reliance on certificates of deposit, with their share rising to 2.6% of total deposits, the highest in a decade, reflecting a widening structural gap between asset creation and liability mobilisation.The Indian banking system is navigating a…
HYDERABAD: The Enforcement Directorate (ED) investigation into the alleged illegal surrogacy and baby selling network linked to Dr Pachipala Namratha has uncovered a vast money trail, with nearly Rs 40 crore in cash deposits, Rs 20 crore in withdrawals and 50 properties worth Rs 29.7 crore provisionally attached across Hyderabad, Visakhapatnam and Vijayawada.According to the…
By Shiva RajoraNEW DELHI: Amid weak market conditions and falling interest rates, Employees Provident Fund Organisation (EPFO) on Monday recommended retaining the interest rate on retirement savings accumulated by nearly 31 crore unchanged at 8.25% during the current financial year. This is the third consecutive year that the social security organisation has kept the rate…
Japan is in discussions with India to jointly explore rare earth deposits in Rajasthan as Tokyo looks to reduce its dependence on China for critical minerals used in magnet manufacturing, Reuters reported, citing two people familiar with the matter.Last month, Union minister G. Kishan Reddy said three hard rock rare earth deposits containing 1.29 million…
EPFO interest rate (AI image) NEW DELHI: Amid weak market conditions and falling interest rates, Employees Provident Fund Organisation (EPFO) on Monday recommended retaining the interest rate on retirement savings accumulated by nearly 31 crore unchanged at 8.25% during the current financial year.This is the third consecutive year that the social security organisation has kept…
The labour ministry has initiated a process to return unclaimed funds lying in inoperative Employees’ Provident Fund Organisation (EPFO) accounts to subscribers, a move expected to benefit over 3.1 million account holders, labour minister Mansukh Mandaviya said.A pilot phase covering about 0.7 million subscribers will be rolled out shortly after the decision was taken during…
