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BIG STORY
Big cheers for small savers and senior citizens

Interest rate on small saving scheme has been linked to market and government takes a call on these interest rates every quarter.

 
 
For the third time in a month, crippled infrastructure conglomerate IL&FS Financial Services on Monday defaulted on interest payments on commercial papers.
The names of more than 2.26 lakh companies have already been struck off from official records and almost an equal number has been identified for further action.
In the last two RBI rate hikes, the quantum of transmission of the deposit rates has been higher than the lending rates.
As of June, retail balances in Maharashtra were the highest at Rs 5,50,200 crore, representing nearly 20 percent of all the retail advances in the country.
India will have a superfast broadband connectivity of 100 Gbps after the launch of three major satellites as early as next year.
Recognising the weaknesses of password-based systems, companies the world over are increasingly betting on biometric security.