Editorji is a popular short video news and information platform based in India. It was founded in 2018 by Vikram Chandra, one of India’s leading journalists, and has risen to prominence in the digital news space in a relatively short span of time. The platform is primarily designed for mobile devices, with applications available for Android and iOS.

ABOUT US:

about us editorji

Latest Video News: Editorji provides the latest news video headlines, latest videos clip from India and the World. Get all breaking news videos on Entertainment, Business, Coronavirus, Elections, Politics and more.

Latest Video News, Breaking News, Bollywood, Political, Sports, Business News | Editorji

+91 11 4035 6666 / info@editorji.com
3rd floor, Plot B, Khasara no 360, Sultanpur, New Delhi, Delhi 110030
<a title="mail to us" href="mailto:info@editorji.com">Send Feedback</a>
<a title="Contact Us" href="mailto:info@editorji.com">Contact Us</a>

REACH US

Contact for any questions, suggestions, comments, feedback or advertisement on Editorji.com, we are always looking forward to hearing from you.

Contact Us for Feedback, Suggestions and Advertising 

Editorji content is better experienced in our app.

Ahead of finance ministry's meet with PSU banks on Saturday, the government has asked the state-owned lenders to share their bond portfolio data

Amid global banking crisis, Finance Ministry seeks PSB's bond portfolio data

Ahead of finance ministry's meet with PSU banks on Saturday, the government has asked the state-owned lenders to share their bond portfolio data

As per Business Standard, the Union finance ministry has asked public sector banks (PSBs) to furnish details of their bond portfolios ahead of their meeting with Finance Minister Nirmala Sitharaman on Saturday, amid the turmoil in global banks.
As an exercise to determine the resilience of banks against interest-rate risks, the ministry has specifically requested details on holdings under the held-to-maturity (HTM) and available-for-sale (AFS) portfolios, bankers said
While the HTM portfolio protects banks from potential losses on bond holdings, the government wants to ascertain how banks will respond in the case of large bond sales from that book, sources said.
Sitharaman will hold a meeting with all PSB heads on Saturday where she will review their work, including lending to infrastructure and flow of cash transfers to beneficiaries under various government flagship schemes.
Source: Business Standard&nbsp;

Build-up of asset-liability mismatches: RBI guv Das cautions banks 

Das said, "We have nothing to fear as our external debt is manageable and thus appreciation of the greenback does not pose any problem to us".

Reserve Bank governor Shaktikanta Das on Friday cautioned banks against any build-up of asset-liability mismatches, saying both are detrimental to financial stability and hinted that the ongoing crisis in the US banking system seems to have emanated from such mismatches.
Delivering the annual KP Hormis (Federal Bank founder) commemorative lecture in Kochi this evening, the governor was quick to acknowledge and assure that the domestic financial sector is stable and the worst of inflation is behind us.
Amid the continuing volatility in exchange rates, especially due to the excessive appreciation of the US dollar, and its impact on the external debt servicing ability of nations, Das said, "We have nothing to fear as our external debt is manageable and thus appreciation of the greenback does not pose any problem to us".
The governor focused most of the speech on India's G20 presidency and in this context, he called for more coordinated attempts by the group of the world's 20 largest economies to help those countries with high external debt risks due to the US dollar rise.
He also said the grouping must provide climate change financing to most affected countries on a war footing.

Moody's says that rated banks in APAC structurally have stable funding and ample liquidity and that they are mostly funded with customer deposits, while their market borrowings are modest 

U.S banking crisis to have limited impact on banks in India, Asia 

Moody's says that rated banks in APAC structurally have stable funding and ample liquidity and that they are mostly funded with customer deposits, while their market borrowings are modest&nbsp;

The impact of the Silicon Valley Bank and Signature Bank collapse in the U.S is likely to be limited as financial institutions in India as well as the Asia-Pacific, as per ratings agency Moody's. &nbsp;
"Most APAC institutions are not exposed to the failed US banks, and only a handful of institutions has immaterial exposures. Finally, most institutions are not as susceptible to large losses from debt security holdings as Silicon Valley Bank was," Moody's said.
The US-based rating agency said rated banks in APAC structurally have stable funding and ample liquidity and that they are mostly funded with customer deposits, while their market borrowings are modest at about 16% of their total assets on average.
Their business depositors are well diversified across different sectors, with no rated bank in the region being heavily exposed to technology companies. Also, APAC banks' deposits are generally not heavily concentrated on single clients.
The ratings agency also said Indian banks have faced strenuous challenges in the past decade, but their funding and liquidity have held up strongly and have been a key factor supporting their overall credit strength.
The Moody's report adds, "most institutions are not as susceptible to large losses from debt security holdings as Silicon Valley Bank was. The second order impact of the US bank failures is still developing and bear close watching."
On March 12, 2023, US regulators closed Signature Bank, just two days after shutting Silicon Valley Bank, following mass withdrawals of customer deposits.

Bank holidays in December 2022: closed for 14 days; here's the full list

Bank holidays in December 2022

As the last and christmas month of 2022 starts, we bring you a list of of bank holidays in December 2022

As the last and christmas month of 2022 starts, we bring you a list of of bank holidays in December 2022. Banks across the country will observe a total of 14 days off including Christmas and New Year holidays.
Apart from the second Saturday and Sundays, the RBI has declared holidays on December 3rd, 5th, 12th, 19th, 24th, 26th, 29th, 30th and 31st. On these days, banks in different states/cities will be closed on the occasion of Feast of St. Francis Xavier, Gujarat Legislative Assembly Elections 2022, Pa-Togan Nengminja Sangma, Goa Liberation Day, Christmas Festival among others.
Other than these, banks will be closed on Sundays &ndash; December 4th, 11th, 18th, 25th and second Saturday &ndash; December 10th.
It is important to know beforehand when will banks be closed so that your time and efforts don't go to waste. However, online and net banking services will continue to work as available during the bank holidays.&nbsp;

On November 11, Bankman-Fried resigned as FTX filed for bankruptcy protection

Former FTX CEO Sam Bankman-Fried apologizes, says didn't 'try to commit fraud'

On November 11, Bankman-Fried resigned as FTX filed for bankruptcy protection

Former FTX Chief Executive Sam Bankman-Fried apologized Wednesday for a "lot of mistakes" in the abrupt collapse of the cryptocurrency firm and said he did not knowingly behave fraudulently.
"I didn't ever try to commit fraud on anyone," Bankman-Fried told the Dealbook conference hosted by CNBC and The New York Times.
"I'm deeply sorry about what happened," Bankman-Fried said. "Clearly I made a lot of mistakes or things I would be able to give anything to be able to do over again."
On November 11, Bankman-Fried resigned as FTX filed for bankruptcy protection while facing a large financing shortfall and a deluge of withdrawals from panicked customers. The firm at its peak had been worth some $32 billion.
At the time, FTX had taken some $10 billion in customer funds without authorization, according to the Wall Street Journal.

Bank Holidays November 2022 : Bank holidays vary from region to region depending upon the festival being observed there or notification of specific occasions in those states

Bank Holidays November 2022 : Banks to be closed for 10 days in November; here's the full list

Banks to be closed for 10 days in November; here's the full list

Banks holidays list in November

Bank holidays vary from region to region depending upon the festival being observed there or notification of specific occasions in those states

Bank Holidays November 2022 : As the second-last month of the year kicks in, Reserve Bank of India (RBI) lists out bank holidays of the month. According to the list, Banks will remain closed for 10 days in November across many states in the country. While bank holidays vary from region to region depending upon the festival being observed there or notification of specific occasions in those states, banks will not operate for four days in November due to regional holidays. These include Guru Nanak Jayanti, Kannada rajyotsava, Seng Kutsnem and Kanakadasa Jayanthi/Wangala Festival. Bank services will get affected in the local branches in the respective states due to these festivals. It is advised to plan your bank-related work to avoid any inconvenience.
<h3>Here is the list of <a href="https://www.editorji.com/business-news/banks-to-be-closed-for-10-days-in-november-here-s-the-full-list-1667366526720">Bank Holidays in November</a>:</h3>
1. 1st November : Kannada Rajyotsava (Holiday in Bengaluru and Manipur) 2. 6th November: Sunday 3. 8th November: Guru Nanak Jayanthi &amp; Karthik Jayanthi (Except the cities Ahmadabad, Chennai, Bengaluru, Guwahati, Imphal, Cochin, Bajaji, Shilling, Patna, Agartala, Gangtok, and Thiruvananthapuram) 4. 11th November: Kanakathara Jayanthi, (Holiday in Bengaluru and Shillong) 5. 12th November: 2nd Saturday 6. 13th November: Sunday 7. 20th November: Sunday 8. 23rd November: Cheng Gudsnem (Banks will close in Shillong only) 9. 26th November: 4th Saturday 10. 27th November: Sunday
However, it must be noted that facilities like online banking and UPI will be available to customers even when the banks are closed on holidays.

A Lebanese parliamentarian on Wednesday entered a bank branch near Beirut, demanding some of her trapped savings to cover medical expenses.
Cash-strapped Lebanon in recent weeks has witnessed a surge in depositors storming bank branches to forcefully withdraw their locked savings as the country's economy continues to spiral. On Tuesday, depositors stormed at least four banks, two of which were armed.
Lebanon's cash-strapped banks have imposed informal limits on cash withdrawals since late 2019. Since then, three-quarters of the population plunged into poverty, and the Lebanese pound lost some 90 per cent of its value against the dollar.
Beirut legislator Cynthia Zarazir entered a Byblos Bank branch near the capital, demanding USD 8,500 from her savings to cover expenses for a surgery.
The reformist lawmaker arrived with a lawyer, and for several hours has been negotiating with the bank branch's management.
“I am a Lebanese citizen demanding my rights in light of this exceptional situation,” Zarazir told the press and bystanders.
Her lawyer Fouad Debs, a member of legal and advocacy group the Depositors' Union, told The Associated Press that negotiations are ongoing, and that she has rejected a “ridiculous” proposal to withdraw her savings in Lebanese pounds at a fraction of its dollar value.
Meanwhile, dozens of protesters scuffled with riot police near at the Central Bank's headquarters in Beirut.
And in Byblos, a man fired an assault rifle at the glass facade of a bank branch, after employees did not let him in without an appointment.
The general public has commended the bank heists, some even hailing the perpetrators as heroes.
Among the most notable cases was Sally Hafez, who last month stormed a Beirut bank branch with a fake pistol and gasoline canister to take some USD 13,000 to fund her 23- year-old sister's cancer treatment.
The banks meanwhile have condemned the angry depositors' actions, and said in a statement Tuesday that the Lebanese government is primarily to blame for the crisis. Last month, the banks closed for a week after at least seven banks were raided, and have since only partially reopened.
Debs, who alongside the Depositors' Union has tried to help depositors unlock their trapped savings, said that the situation is no longer bearable and that Lebanon needs to reform its economy to become viable again.
“What we want is a collective solution which would be through a recovery plan that's fair, comprehensive, transparent, and includes the restructuring of the banks and public debt,” Debs told the AP, adding that the politicians and bankers should be held accountable for the crisis.
Lebanon for over two years has been struggling to reach an agreement with the International Monetary Fund for a bailout program. The country's government and divided parliament have stalled over about a dozen mandatory reforms ever since they reached a tentative agreement in April, including restructuring its banks, implementing formal capital controls, and reforming its outdated bank secrecy laws. The United Nations and IMF have both criticized Lebanon for its sluggish progress.

Explained: Why are customers storming banks in Lebanon 

As Lebanon's economic crisis worsens, depositors are breaking into banks to forcefully withdraw their trapped savings reflecting growing public anger towards banks and govt who have struggled to reform the country's corrupt and battered economy

As Lebanon's economic crisis worsens, depositors are breaking into banks to forcefully withdraw their trapped savings reflecting growing public anger towards banks and govt who have struggled to reform the country's corrupt and battered economy

A Lebanese parliamentarian on Wednesday entered a bank branch near Beirut, demanding some of her trapped savings to cover medical expenses.
Cash-strapped Lebanon in recent weeks has witnessed a surge in depositors storming bank branches to forcefully withdraw their locked savings as the country's economy continues to spiral. On Tuesday, depositors stormed at least four banks, two of which were armed.
Lebanon's cash-strapped banks have imposed informal limits on cash withdrawals since late 2019. Since then, three-quarters of the population plunged into poverty, and the Lebanese pound lost some 90 per cent of its value against the dollar.
Beirut legislator Cynthia Zarazir entered a Byblos Bank branch near the capital, demanding USD 8,500 from her savings to cover expenses for a surgery.
The reformist lawmaker arrived with a lawyer, and for several hours has been negotiating with the bank branch's management.
&ldquo;I am a Lebanese citizen demanding my rights in light of this exceptional situation,&rdquo; Zarazir told the press and bystanders.
Her lawyer Fouad Debs, a member of legal and advocacy group the Depositors' Union, told The Associated Press that negotiations are ongoing, and that she has rejected a &ldquo;ridiculous&rdquo; proposal to withdraw her savings in Lebanese pounds at a fraction of its dollar value.
Meanwhile, dozens of protesters scuffled with riot police near at the Central Bank's headquarters in Beirut.
And in Byblos, a man fired an assault rifle at the glass facade of a bank branch, after employees did not let him in without an appointment.
The general public has commended the bank heists, some even hailing the perpetrators as heroes.
Among the most notable cases was Sally Hafez, who last month stormed a Beirut bank branch with a fake pistol and gasoline canister to take some USD 13,000 to fund her 23- year-old sister's cancer treatment.
The banks meanwhile have condemned the angry depositors' actions, and said in a statement Tuesday that the Lebanese government is primarily to blame for the crisis. Last month, the banks closed for a week after at least seven banks were raided, and have since only partially reopened.
Debs, who alongside the Depositors' Union has tried to help depositors unlock their trapped savings, said that the situation is no longer bearable and that Lebanon needs to reform its economy to become viable again.
&ldquo;What we want is a collective solution which would be through a recovery plan that's fair, comprehensive, transparent, and includes the restructuring of the banks and public debt,&rdquo; Debs told the AP, adding that the politicians and bankers should be held accountable for the crisis.
Lebanon for over two years has been struggling to reach an agreement with the International Monetary Fund for a bailout program. The country's government and divided parliament have stalled over about a dozen mandatory reforms ever since they reached a tentative agreement in April, including restructuring its banks, implementing formal capital controls, and reforming its outdated bank secrecy laws. The United Nations and IMF have both criticized Lebanon for its sluggish progress.

Focussed on the theme of education and financial literacy, Equitas Small Finance Bank announced that it is all set to launch exclusive savings account for kids named ‘ENJOI’, on the occasion of Father's Day – June 19, 2022.
The account introduces "young kids" to the financial world, encouraging them to develop an early habit of saving through which they can watch their money grow, as they become adults.
About the account details 
ENJOI will allow kids of 0-18 years to open a savings account under the supervision of their parents. Minors aged 10 & above will also get an option for a personalized debit card, as per the bank.The account offers 7% interest for savings balances between ₹5 Lakh to ₹2 crore. Upon the written consent from parents, minors aged 10 & above can also avail self- operating account with limited transaction limits.
The bank also said ENJOI account holders will also have access to exclusive deals from ed-techs and online learning providers. 

This bank is launching savings account for kids, ENJOI!

ENJOI account holders will also have access to exclusive deals from ed-techs and online learning providers

A personalized debit card will be complimentary for the first year&nbsp;

Focussed on the theme of education and financial literacy, Equitas Small Finance Bank announced that it is all set to launch exclusive savings account for kids named &lsquo;ENJOI&rsquo;, on the occasion of Father's Day &ndash; June 19, 2022.
The account introduces "young kids" to the financial world, encouraging them to develop an early habit of saving through which they can watch their money grow, as they become adults.
Also read/watch| <a title="Musk meets Twitter employees finally - and he talked about aliens!&nbsp;" href="https://www.editorji.com/business-news/musk-meets-twitter-employees-finally-and-he-talked-about-aliens-1655434220536">Musk meets Twitter employees finally - and he talked about aliens!&nbsp;</a>
About the account details&nbsp;
ENJOI will allow kids of 0-18 years to open a savings account under the supervision of their parents. Minors aged 10 &amp; above will also get an option for a personalized debit card, as per the bank. The account offers 7% interest for savings balances between ₹5 Lakh to ₹2 crore. Upon the written consent from parents, minors aged 10 &amp; above can also avail self- operating account with limited transaction limits.
The bank also said ENJOI account holders will also have access to exclusive deals from ed-techs and online learning providers.&nbsp;

Move aside Governor Das, the banks are not waiting for the RBI&nbsp;policy but beating the curve and raising rates. Private lender HDFC&nbsp;Bank has&nbsp;raised its marginal cost of funds-based lending rate (MCLR) on loans across all tenures by 35 basis points effective immediately.&nbsp;
The hike in rates marks the second hike in just a month, earlier HDFC Bank had raised MCLR by 25 basis points on May 7, 2022.&nbsp;
But some relief for home loan borrowers, it is important to note that hike in EMI outgo will impact only when the reset date of your loan arrives which is just once a year.&nbsp;
The one-year MCLR, which is connected to many consumer loans, will now be 7.85 percent, the two-year MCLR will be 7.95 percent, and the three-year MCLR will be 8.05 percent.

EMIs rise: Banks don't wait for RBI, raise loan rates ahead of policy meet

EMIs soar: Banks don't wait for RBI, raise loan rates ahead of policy meet

Second rate hike within a month by HDFC&nbsp;Bank&nbsp;

Move aside Governor Das, the banks are not waiting for the RBI&nbsp;policy but beating the curve and raising rates. Private lender HDFC&nbsp;Bank has&nbsp;raised its marginal cost of funds-based lending rate (MCLR) on loans across all tenures by 35 basis points effective immediately.&nbsp;
The hike in rates marks the second hike in just a month, earlier HDFC Bank had raised MCLR by 25 basis points on May 7, 2022.&nbsp;
But some relief for home loan borrowers, it is important to note that hike in EMI outgo will impact only when the reset date of your loan arrives which is just once a year.&nbsp;
The one-year MCLR, which is connected to many consumer loans, will now be 7.85 percent, the two-year MCLR will be 7.95 percent, and the three-year MCLR will be 8.05 percent.

In a big move India's largest babk State Bank of India (SBI) has hiked loan rates which is going to hurt consumers as prices across the board continue to rise. SBI raised the marginal cost of lending rate (MCLR) by 10 basis points (bps) across all loan tenors. One basis point is equivalent to one-hundredth part of a percentage point. The hike in rates is applicable immediately. SBI's one year MCLR increases to 7.10% vs 7% earlier. The three year MCLR is now at 7.4% vs 7.3%. 

SBI hikes rates, loans & EMIs get more expensive

SBI raised the marginal cost of lending rate (MCLR) by 10 basis points (bps) across all loan tenors. One basis point is equivalent to one-hundredth part of a percentage point. The hike in rates is applicable immediately. 

SBI hike rates, loans & EMIs get more expensive

SBI hikes MCLR by 10 bps across tenors, effective April 15

In a big move India's largest bank&nbsp;State Bank of India (SBI) has hiked loan rates which is going to hurt consumers as prices across the board continue to rise.&nbsp;
Also read/watch| <a title="Infosys share price sinks; here is what brokerages are saying" href="https://www.editorji.com/business-news/new-timings-for-banks-and-forex-trade-check-the-details-here-1650256866497">Infosys share price sinks; here is what brokerages are saying</a> SBI&nbsp;raised the marginal cost of lending rate (MCLR) by 10 basis points (bps) across all loan tenors. One basis point is equivalent to one-hundredth part of a percentage point. The hike in rates is applicable immediately.&nbsp;
SBI's one year MCLR increases to 7.10% vs 7% earlier. The three year MCLR&nbsp;is now at 7.4% vs 7.3%.&nbsp;

Bank Opening Time: You can now be done with your banking work early as the bank timings have been revised and have been reverted to pre-pandemic hours.

New banking time in India: New timings for banks and forex trade; check the details here

As per the directive from RBI, banks will be open from 9 a.m. from April 18, which will give customers an extra hour to access branches . It is not just bank branches that have revised timelines, even financial markets regulated by RBI such as the forex market have a new set of timings to abide by. 

RBI changes banks timings| Check new working hours of banks 

Banking hours were moderated during the&nbsp;pandemic.

Bank Opening Time: You can now be done with your banking work early as the bank timings have been revised and have been reverted to pre-pandemic hours. As per the directive from&nbsp;Reserve Bank of India(RBI), banks&nbsp;will be open from 9 a.m. from April 18, which will give customers an extra hour to access branches&nbsp;. It is not just bank branches that have revised timelines, even financial markets regulated by RBI&nbsp;such as the forex&nbsp;market have a new set of timings to abide by.&nbsp;
Also read/watch|&nbsp;<a title="Explained: How to withdraw cash at ATM without a card" href="https://www.editorji.com/business-news/personal-finance/explained-how-to-withdraw-cash-at-atm-without-a-card-1649665865386">Explained: How to withdraw cash at ATM without a card</a> The RBI notification also said, &rdquo;With the substantial easing of restrictions on the movement of people and functioning of offices, it has now been decided to restore the opening time for regulated financial markets to their pre-pandemic timing of 9:00 am Accordingly, with effect from April 18, 2022, the trading hours for the markets regulated by the Reserve Bank would be as under:&rdquo;
RBI also issued a chart that tells the exact timing of the start of the market and the ending of the same.
<h3>Check below the revised timing:</h3>
&bull; Call/notice/term money &ndash; 9:00 am to 3:30 pm
&bull; Market repo in Government Securities &ndash; 9:00 am to 2:30 pm
&bull;&nbsp;Tri-party repo in Government Securities &ndash; 9:00 am to 3:00 pm
&bull; Commercial paper and Certificates of Deposit &ndash;9:00 am to 3:30 pm
&bull;&nbsp;Repo in Corporate Bonds- 9:00 am to 3:30 pm
&bull; Government Securities (Central Government Securities,State Development Loans and Treasury Bills) 9:00 am to 3:30 pm
&bull; Foreign Currency (FCY)/Indian Rupee (INR) Trades including Forex Derivatives &ndash; 9:00 am to 3:30 pm
&bull; Rupee Interest Rate Derivatives &ndash; 9:00 am to 3:30 pm

Union Budget gives a reasons to cheer for savers. Lenders like State Bank of India (SBI), HDFC Bank, Axis Bank and ICICI Bank have opted to hike the deposit rates.
The rising rate comes as a good news for depositers who have been earning one of the lowest rates of interest in almost 20 years. 
The State Bank of India, which is the largest lender in India, has increased deposit rates on fixed deposits two times earlier in this week. There is a chance of a change in the interest-rate cycle, SBI is taking inspiration from private lenders HDFC Bank, Axis Bank and ICICI Bank.HDFC BankAccording to its website, now FDs with tenure between 2 years 1 day and 3 years will earn 5.2%, 3 year 1 day and 5 years will fetch 5.4% and 5 years 1 day and 10 years will fetch 5.6%.
Compared to this, for deposits below Rs 2 crore, State Bank of India (SBI) is offering interest rates in the range of 2.9-5.4% on FDs with various tenors ranging from 7 days to 10 years. 
In the case of ICICI Bank, the interest rates are applicable for new deposits and renewal of existing fixed deposits. The bank gives interest rates ranging from 2.5 per cent to 5.50 per cent on deposits maturing in 7 days to 10 years. Senior citizens continue to get a 50 basis points (bps) higher interest rate than others.
Kotak Mahindra Bank has hiked the interest rate on fixed deposits (FD) across various tenors. After the latest revision, for FDs maturing in 7 to 30 days, 31 to 90 days and 91 to 120 days, Kotak Mahindra Bank offers an interest rate of 2.5%, 2.75% and 3% respectively. 
 

FD rate hike: Time to start saving - get all  the details here 

The rising rate comes as a good news for depositors who have been earning one of the lowest rates of interest in almost 20 years. 

Check out the new rates here: 

Fixed Deposits interest rates hike? check latest FD rates here

Union Budget 2022 may have&nbsp;disappointed&nbsp;taxpayers but this could be a good news for savers.&nbsp;
Major banks like SBI, HDFC Bank and ICICI&nbsp;Bank have increased interest rates on fixed deposits&nbsp;in January 2022.
This enables higher returns for depositors on FDs&nbsp;who have been earning one of the lowest interest rates in decades.&nbsp;
Editorji&nbsp;compiles the latest FD rates for you:
HDFC&nbsp;Bank, in a recent update, has revised its interest&nbsp;rate on Fixed deposits.&nbsp;
According to the website, now FDs with tenure between 2 years 1 day and 3 years will earn 5.2%, 3 year 1 day and 5 years will fetch a 5.4% rate and 5 years 1 day and 10 years will fetch 5.6%.
Compared to this, The State Bank of India, which is the largest lender in India, has increased deposit rates on fixed deposits not once but twice earlier this month. After the latest revision, SBI is giving 5.1% on FD with tenure between 1 year to less than 2 years. For senior citizens the rate has been increased from 5.50 percent to 5.60 percent. ICICI&nbsp;- ICICI Bank gives interest rates ranging from 2.5 percent to 5.60 percent&nbsp;on deposits maturing in 7 days to 10 years.&nbsp;
According to the bank&rsquo;s website, ICICI Bank is offering a&nbsp;5.20%&nbsp;percent interest rate on FDs maturing in&nbsp;2 years 1 day to 3 years whereas&nbsp;a 5.60 percent interest rate on FDs maturing in 5 years to 10 years.
 Kotak Mahindra Bank&nbsp;has hiked the interest rate on fixed deposits (FD) across various tenors. After the latest revision, the interest rate by 10 bps to 5.3% on fixed deposits maturing in 3 to 5 years. Investors will also receive returns at an interest rate of 5.3% on term deposits maturing in 5 years to 10 years.

The interest rate on fixed deposits for tenure 1 year to less than 2 years has been increased to 5.1% from 5.0%. For senior citizens the rate is increased from 5.50% to 5.60%

Though Union Budget 2022 disappoints majority of taxpayers but this might be a good news for savers.&nbsp; Lenders such as State Bank of India (SBI) and HDFC Bank have revised interest rates on fixed deposits (FDs), enabling higher returns for depositors on maturity. The rising rate comes as a good news for depositors&nbsp;who have been earning one of the lowest rates of interest&nbsp;in almost 20 years.&nbsp; Also read: <a title="Forgot it ...then fix it! Tax payers get 2 years to report 'overlooked' income" href="https://www.editorji.com/business-news/personal-finance/forgot-it-then-fix-it-tax-payers-get-2-years-to-report-overlooked-income-1643772243376">Forgot it ...then fix it! Tax payers get 2 years to report 'overlooked' income</a>
Here&nbsp;Editorji&nbsp;lists down the latest FD rates for you:
The State Bank of India, which is the largest lender in India, has increased deposit rates on fixed deposits two times earlier in this week. There is a chance of a change in the interest-rate cycle, SBI is taking inspiration from private lenders HDFC Bank, Axis Bank and ICICI Bank. HDFC&nbsp;Bank According to its website, now FDs with tenure between 2 years 1 day and 3 years will earn 5.2%, 3 year 1 day and 5 years will fetch 5.4% and 5 years 1 day and 10 years will fetch 5.6%.
Compared to this, for deposits below Rs 2 crore, State Bank of India (SBI) is offering interest rates in the range of 2.9-5.4% on FDs with various tenors ranging from 7 days to 10 years.&nbsp;
In the case of&nbsp;ICICI Bank, the interest rates are applicable for new deposits and renewal of existing&nbsp;fixed deposits. The bank gives interest rates ranging from 2.5 per cent to 5.50 per cent on deposits maturing in 7 days to 10 years. Senior citizens continue to get a 50 basis points (bps) higher interest rate than others.
Kotak Mahindra Bank has hiked the interest rate on fixed deposits (FD) across various tenors. After the latest revision, for FDs maturing in 3 years, 5 years and 10 years,&nbsp;Kotak Mahindra Bank&nbsp;offers an interest rate of 5.15%, 5.3% respectively.&nbsp;

banks

Categories