Kotak Mahindra Bank cuts savings account interest rate
Account holders with balances between ₹5 lakh and ₹50 lakh will now earn 4.75% per annum, down from 5%. Source
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Money
RBI instructs all banks, financial companies, and other regulated entities
RBI mandates use of PRAVAAH portal for all regulatory applications from May 1, 2025, for transparency and efficiency. Source
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Equity mutual funds see 71% surge in redemptions over 5
On a year-on-year basis, redemptions increased by 4.5% from ₹30,088 crore in March 2024, while inflows rose by 10.82% from ₹22,633 crore in the same period. Source
Read MoreKKR-backed InCred Financial Services is in talks with advisers for
InCred Financial Services in discussions for IPO, aiming for 150 billion rupees valuation, despite market volatility. Source
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Income tax returns: ClearTax launches AI-powered tools for ITR filing
The latest feature allows users to file taxes directly through Microsoft Teams, and an Azure OpenAI-powered WhatsApp agent supports nine regional languages, helping gig-workers manage their tax refunds. Source
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Cholamandalam aims to build over ₹1,000 crore gold loan book
Cholamandalam Investment & Finance Company Ltd (Chola) enters gold loan business targeting ₹1,000–₹1,500 crore loan book. Source
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RBI Fixes ₹9,600 Premature Redemption Price for Sovereign Gold Bonds
RBI announced the ₹9,600 redemption price for Sovereign Gold Bond (SGB) Series I (2020-21) due on April 28, 2025. Know exit options, process, and key updates. Source
Read MoreSundaram Finance to revise deposit interest rates from May 1
Sundaram Finance Ltd adjusts deposit rates based on RBI repo rate changes, offering competitive rates for all depositors. Source
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Gold prices drop over 1% today: Reasons explained
The price of 24 karat gold stands at ₹98,200 for 10 grams, while 22 karat gold is priced at ₹90,010 for 10 grams, according to Goodreturns data. Source
Read MoreUnion Bank recruits 1,500 local bank officers to boost regional
Union Bank of India hires 1,500 Local Bank Officers nationwide to enhance customer relationships and drive business growth. Source
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