The Press Editor

New Delhi: The Reserve Bank of India (RBI) has issued new, stricter guidelines to curb the arbitrariness of loan recovery agents. The rules will be implemented nationwide from January 1, 2027 and will protect millions of borrowers across the country who take loans from banks and non-banking financial companies (NBFCs). Strict guidelines have been established to ensure transparency in the recovery process and prevent customer harassment. This development holds significance because there have been frequent complaints of misbehaviour and inappropriate calls from recovery agents. Furthermore, locked devices must be unlocked within one hour of loan repayment; otherwise, the bank will…

New Delhi: For many Non-Resident Indians (NRIs), the attraction of the highest interest rates is a natural consideration when managing their earnings abroad. But the returns alone should not be the reason. According to experts, the currency you earn today and the currency you'll spend in the future can have a big impact on the value of your savings. The right deposit is often a matter of balancing returns against currency certainty. It is here that a Foreign Currency Non-Resident (FCNR) deposit can come in handy.  Unlike other deposit accounts, it allows NRIs/OCIs (Overseas Citizens of India) to save in…

Mumbai: Benchmark indices Sensex and Nifty ended in the red as renewed uncertainty surrounding the Strait of Hormuz negotiations and broad-based weakness in financial stocks overshadowed an otherwise supportive earnings backdrop. The 30-share BSE Sensex closed 455.59 points or 0.58 per cent lower at 78,499.17. During the day, the benchmark hit a high of 78,757.40 and a low of 78,377.07, gyrating 380.33 points. The 50-share NSE Nifty ended flat with a drop of 65.35 points or 0.27 per cent at 24,570.65. However, the broader market ended the session in the green. While the BSE MidCap Select Index gained 35.97 points or…