Citizens Financial News

Non-bank lender Shriram Finance Ltd (SFL) has launched digital-only recurring deposits and fixed deposits, which can be subscribed through the Shriram One App and the official company website, effective April 22.

The Insurance Regulatory and Development Authority of India (IRDAI) has dissolved the barrier to applying for health insurance in India that allowed only individuals aged 65 and lower to purchase health covers. The recent development on Sunday has pushed insurance companies to provide insurance to people irrespective of their age.

Motilal Oswal Financial Services has launched its maiden public issue of non-convertible debentures (NCDs) worth Rs 1,000 crore, comprising a base issue of Rs 500 crore and a green-shoe option of Rs 500 crore to retain oversubscription.

Demat accounts serve as a crucial gateway to stock investing, enabling individuals to access various financial instruments and trade to capitalise on market movements. Similar to a bank account, a demat account securely holds your securities in electronic form, offering convenience and protection by eliminating the need for physical share certificates.

Bombay High Court on Tuesday ruled that public sector lenders do not have the power to issue Look Out Circulars (LOCs) against citizens and foreigners under the office memoranda (OM) of the Central government. The division bench of Justice GS Patel and Madhav Jamdar ruled this in a clutch of petitions challenging the LOCs issued to restrain people who are indebted to public sector banks from travelling abroad. A detailed order is awaited. The court, however, while terming empowerment of the managers of public sector banks to issue LOCs as ‘arbitrary’, clarified that OMs of the central government were not ultra vires to the Constitution. With this ruling, all such LOCs issued at the request of the public sector banks were quashed and set aside by the high court.

A billionaire trying to get off Canada’s Russia sanctions list denounced Vladimir Putin and the Ukraine war in a private statement to the government but it didn’t work, Global News has learned.

Mallikarjun Kharge said on Monday that President Droupadi Murmu was not invited to the Pran Pratishtha programme at Ayodhya and the inaugural function of Parliament due to her caste. Former President Ram Nath Kovind, Kharge said, was also not invited to the two events by the due to the same reason. “PM Modiji says though we invited leaders from the Congress party to Ayodhya they never turned up.

Short term deposit period can range between 7 days to 12 months. The long-term deposit ranges from above 1 year to 10 years. The FD interest rates offered vary from bank to bank, depending on the tenure. The interest rates on short-term fixed deposits are greater than those on savings accounts, while lower than those on long-term deposits.

American Intelligence Journal, Virginia Kent of the State Department and Robert Gay of the National Intelligence University in Maryland wrote of a “bloodless coup" by Chinese money-handling organisations, noting how, in recent years, they have largely displaced home-grown ones in Mexico that were previously used for this purpose. The authors (expressing their personal views) called these Chinese operators “a new and more challenging money-laundering foe". The American government has been sounding the alarm.

climate activists have increasingly turned to courts to precipitate climate action. They want recognition of climate action as intrinsic as safeguarding constitutional and human rights. Starting with courts in the Netherlands, Australia, the US and Germany, and, more recently, European Court of Human Rights (ECtHR) and India’s Supreme Court — in its recent decision to include the adverse impact of climate change as a part of fundamental rights — judicial verdicts have held that governments are dutybound to enact and enforce suitable laws to protect present and future generations from the adverse effects of climate change. Citizen-led judicial activism, particularly from vulnerable and interest groups, reflects a rising public consciousness that governments’ failure to take timely and resolute climate action is a human rights issue. With constitutional courts upholding this position, climate action by the state is no longer a choice but an imperative.

Health Insurance New Rule: The Insurance Regulatory and Development Authority of India (IRDAI) has removed the age limitation to buy health insurance. Now, with this withdrawal, individuals would be able to buy new health insurance even at 65 years of age. Previously, this group was restricted from getting access to new insurance plans.

Citizens Financial Group is enhancing its wealth management division in California by integrating a new team of advisors in the San Francisco Bay Area. The group, which specializes in serving ultra-high-net-worth clients, had managed more than $5 billion in client assets at JPMorgan.

Dubai floods 2024: Amid relentless rains wreaking havoc in Dubai and disrupting normal life, the Consulate of India has issued helpline numbers and guidelines for Indians affected by the extreme weather conditions. Dubai has experienced a "historic weather event," with the UAE city receiving 142 millimeters (5.59 inches) of rainfall by Tuesday. “Helpline numbers for Indian citizens affected by the extreme weather conditions in Dubai and Northern Emirates and needing help: +971501205172, +971569950590, +971507347676, +971585754213," the Indian consulate said in a post on X.

Lok Sabha Elections 2024: The Bharatiya Janata Party (BJP) has promised in its manifesto to introduce the Uniform Civil Code (UCC) across India if it comes to power. This code would replace existing personal laws like the Hindu Marriage Act, the Parsi Marriage and Divorce Act and the Christian Marriage Act with a single set of laws for all citizens. In February, Uttarakhand became the first Indian state after Independence to approve the UCC.

Tax Deducted at Source (TDS) applies to various income sources, including salaries, business income, property sales, and interest on bank deposits. When a payer deducts TDS from your income, they essentially withhold a portion of your tax liability. This deducted amount is then credited to your tax account and is supposed to be reflected when you file your tax return.

Corporate fixed deposits (FDs) are currently offering attractive interest rates on tenures up to 5 years. FDs issued by housing finance companies and non-banking financial companies fall under the corporate fixed deposit category. Corporate fixed deposits yield better returns than most bank fixed deposits. Take a look at these top 5 corporate FDs in April 2024:

Georgia’s parliament has voted in the first reading to approve a proposed law that would require media and non-commercial organizations to register as being under foreign influence if they receive more than 20% of their funding from abroad

USCIS) proudly posted on X that a 99-yr-old woman from India had been awarded citizenship. 'They say age is just a number. That seems true for this lively 99-year-old who became a new US citizen in our Orlando office. Daibai is from India and was excited to take the Oath of Allegiance....' Indians tired of waiting for an employment-based green card (GC) for decades did not take too kindly to this post. One person responded to USCIS with, 'LOL. Soon you will give green cards posthumously!' A GC is the first step on the path towards US citizenship. In general, only after five years of holding a GC (reduced to three years, if you are married to a US citizen) can you apply for citizenship. The catch — it's a decades-long queue if you are from India.

ALSO READ: Sandeshkhali violence: ‘Hotbed of communal riots’, Mamata Banerjee blames BJP for inciting conflict| 10 updates Earlier in the day, West Bengal Chief Minister Mamata Banerjee appealed to the citizens "to maintain peace, prosperity and development for all". A Bharatiya Janata Party (BJP) criticised the Trinamool Congress (TMC) chief for “asking to maintain peace rather than “given the message of peace".

If you are an EPF (Employees Provident Fund) subscriber, and at the time of withdrawal, you do not want TDS (tax deducted at source) to be deducted, you need to fill out form 15G. The TDS is deducted either by the bank at the time of transferring interest income to account holder’s account, or by EPFO at the time of transferring the withdrawal money into the account of the subscriber.

The South Korean Central Bank is set to “speed up” its CBDC project, and will pilot its digital KRW with a group of 100,000 citizens later this year.