RBI asks banks to give due notices to customers for periodic KYC update
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India.com
2 hours ago
- India.com
Bank Holidays in August: Banks to remain shut on these dates, check complete list here
Home Business Bank Holidays in August: Banks to remain shut on these dates, check complete list here Bank Holidays in August: Banks to remain shut on these dates, check complete list here The list of holidays in banks is drawn up annually by the RBI under the Negotiable Instruments Act, which governs the use of cheques, bills of exchange, and promissory notes. Bank Holiday: The Reserve Bank of India (RBI) has notified a set of bank holidays under the provisions of the Negotiable Instruments Act between August 18 and August 25. The customers must note that the banking operations in some parts of the country will remain suspended due to state-specific festivals, weekend closures, and regular Sunday offs. It is important to note that the banks across the country will remain shut on 23 August (Saturday), which marks the fourth Saturday of the month. This will be followed by the routine Sunday holiday on 24 August, when banks nationwide will remain closed. Bank Holidays: All You Need To Know On 19 August (Tuesday), banks in Agartala, Tripura, will remain closed in honour of the birthday of Maharaja Bir Bikram Kishore Manikya Bahadur Although branch counters will not be functional on these dates, most essential financial services remain accessible. Customers can continue to withdraw cash from the ATMs Online and mobile banking facilities will operate as usual unless a rare technical disruption is announced by individual banks. Payment platforms such as UPI and net banking also remain unaffected Fund transfers, bill payments, and other digital transactions can be completed seamlessly. Notably, the list of holidays in banks is drawn up annually by the RBI under the Negotiable Instruments Act, which governs the use of cheques, bills of exchange, and promissory notes. On such holidays, physical processing of these instruments cannot take place, making branch closures necessary. For breaking news and live news updates, like us on Facebook or follow us on Twitter and Instagram. Read more on Latest Business News on
Indian Express
2 hours ago
- Indian Express
Gold loan vs selling: Which works better in a crisis?
In India, gold isn't just considered jewellery but also a safety net. When a crisis strikes, many Indian households turn to gold, a trusted, tangible asset that can be quickly converted into cash. But is this the right approach? Or should you instead take a gold loan? Let's compare both options based on some crucial parameters to find out which may be right for you and when. Whether you're selling or pledging gold, both are quick. Selling to a jeweller or gold buyer gives you instant cash but you may need to shop around to get the best rate. A gold loan from a bank or NBFC can be processed within hours, especially if your KYC is ready and the gold is valued. So, selling gives you a slight advantage if you are in an absolute urgency and want to avoid paperwork. For most other situations, you can choose either option. Selling is final while a gold loan allows you to retain ownership of the ornaments. In case of ornaments that are of sentimental value, taking a loan is a safer option versus selling. Gold loan interest are in the range of 8.00% to 12.50% a year (as of July 23, 2025). Coupled with processing fee, the longer you take to repay, the more interest you'll pay. Selling the gold, on the other hand, involves no interest cost, but you may get less than the market price due to deductions. So, if you are confident of repaying quickly, a loan may be cheaper. But, for longer periods, selling might save you money. As of Aug 2025, RBI has capped the loan-to-value (LTV) ratio for gold loans at 75%. Specifically, gold loan LTV caps are 85% for loans up to ₹2.5 lakh, 80% for ₹2.5–5 lakh, and 75% for above ₹5 lakh. On the other hand, selling can get you the full market value of the gold, save for a few deductions. If maximising asset value is the priority, selling has the advantage. Selling gold carries zero repayment-related risk, since the sale is full and final. But, a gold loan must be repaid on time to prevent the gold from being auctioned, sometimes at an unfavourable price. Each option comes with pros and cons, and deciding what's right for you depends on your unique situation. Taking a gold loan is the right choice if the jewellery holds sentimental value and you intend to keep it. It's also a smarter choice if you expect gold prices to rise in the future, giving you a chance to realise a higher future value for your asset. A gold loan also makes sense if you have stable income and are confident of repaying the loan in time. Selling the gold is the best option if you want the highest possible value for your gold and have no emotional attachment to the jewellery. This is a simple, one-time transaction that doesn't involve repayments, EMIs, or interest concerns. All in all, it is a good option if you want to reduce financial stress without taking on new debt. In the end, the right choice depends on your needs and priorities. Weigh the costs, benefits, and trade-offs before deciding. Adhil Shetty is the CEO of
Time of India
3 hours ago
- Time of India
Probability of another 25bps rate cut by October rises: Puneet Pal
Synopsis Indian bond yields remained high, with the 10-year segment underperforming. CPI inflation fell to 2.10%, driven by lower food prices, raising hopes for RBI rate cuts. WPI inflation also slowed. Exports to the US increased, but overall exports were flat. A potential US tariff on Indian imports could impact GDP. The fiscal deficit stood at 18% in Q1FY26.
