Current Context: HDFC Bank launched the Embassy Fixed Deposit, a USD-based foreign currency deposit scheme for diplomats, non-diplomatic staff, and diplomatic missions. Key Facts Minimum Deposit: USD 5,000; increments of USD 1,000. Tenures: 1, 3, 6 months, and 1 year. No automatic renewal; reinvestment requires a new request. Interest and Withdrawal Monthly updated interest rates. Premature Withdrawal: Penalty of 0.5% on actual duration; no interest if effective rate is negative. Significance: Tailored for diplomats with secure and flexible investment options.Read More

Current context: IDFC FIRST Bank launched the “Ace” feature on its mobile app, offering details on 2500+ mutual funds. Objective: Promotes DIY (do-it-yourself) investing for customers. Key Features Fund Categories: Includes Equity, Debt, Tax-Saving, Hybrid, and Index funds for portfolio diversification. Information Access: Historical fund performance (1Y, 3Y, 5Y). Holding patterns by sectors, companies, and market cap. Expert ratings (Morningstar Rating). Ease of Investment: Facilitates choosing need-based funds for personalized investments.Read More

The Securities and Exchange Board of India (SEBI) reduced the minimum investment for Zero Coupon Zero Principal (ZCZP) instruments on the Social Stock Exchange (SSE) from ₹10,000 to ₹1,000 to boost retail participation in funding non-profit organizations (NPOs). Reduction in Investment Limit: Minimum investment size lowered to ₹1,000 to increase participation from small-scale investors. About ZCZP Instruments: Donation-based tools for NPO funding with no repayment of principal or interest, focusing on social impact causes. Purpose: To enhance funding in sectors like education and healthcare, strengthening India's social impact investment ecosystem. Implementation: The change is effective immediately, revising SEBI’s earlier guidelines....Read More

SBI Mutual Fund has launched two investment schemes focused on India's public sector banking sector. Schemes Introduced: SBI BSE PSU Bank Index Fund: Open-ended scheme tracking the BSE PSU Bank Index. SBI BSE PSU Bank ETF: Open-ended exchange-traded fund replicating the BSE PSU Bank Index. Objective: To deliver returns closely aligned with the BSE PSU Bank Index performance, subject to tracking error. Asset Allocation: 95% to 100% of assets invested in stocks listed in the BSE PSU Bank Index.Read More

The Reserve Bank of India (RBI) and the Bank of Mauritius (BoM) have signed an MoU to promote the use of the Indian Rupee (INR) and Mauritian Rupee (MUR) in cross-border transactions. Objective: Enhance bilateral trade by enabling the use of INR and MUR for invoicing and settlement of transactions. Key Features: Covers all current account and agreed capital account transactions. Enables the development of a market in the INR-MUR currency pair. Significance: Strengthens trade relations, deepens financial integration, and bolsters economic ties between India and Mauritius. Signatories: RBI Governor Sanjay Malhotra and BoM Governor Rama Krishna Sithanen.  Read More