In a significant step towards financial inclusion and customer convenience, the Reserve Bank of India (RBI) has announced three major measures aimed at making banking services more accessible, transparent, and user-friendly. The announcement was made on Wednesday, following the Monetary Policy Committee (MPC) meeting, with RBI Governor Sanjay Malhotra highlighting that the initiatives are designed … Read more
India’s net direct tax collection for the financial year 2025–26 has dropped by 3.95%, reaching ₹6.64 lakh crore compared to ₹6.91 lakh crore collected during the same period in FY25. The decline, according to the government’s data released on August 12, 2025, is primarily due to a significant rise in refunds issued to taxpayers. Understanding … Read more
India’s retail inflation dropped sharply to 1.55% in July 2025, the lowest year-on-year rate since June 2017. This is also the first time in over six years that inflation has fallen below the Reserve Bank of India’s (RBI) 2%–6% tolerance band. The July figure marks a significant decline from 3.16% in April 2025 and 3.54% … Read more
The banking system in India is changing, especially regarding the minimum balance needed for savings accounts. ICICI Bank has announced that starting August 1, 2025, new savings accounts will require a higher Minimum Average Monthly Balance (MAMB). ICICI Bank’s Strong Move: The New Minimum Balance Rules Starting August 1, 2025, ICICI Bank has implemented higher minimum balance rules for new savings … Read more