DOWNLOAD IPFS A recent study by Think360.ai reveals that a striking 93% of salaried individuals earning less than ₹50,000 per month depend on credit cards to manage their daily expenses. This data underscores a deepening reliance on short-term credit among lower-income households. The study, which examined financial habits of over[Read More…]

DOWNLOAD IPFS Reliance Retail, part of the Mukesh Ambani-led Reliance Industries group, has acquired the Kelvinator home appliance brand for the Indian market from Sweden’s Electrolux. The acquisition aims to strengthen Reliance’s position in the booming consumer durables sector, officials confirmed on Friday. Kelvinator, best known in India for refrigerators[Read More…]

DOWNLOAD IPFS India’s largest lender, State Bank of India (SBI), reduced its Marginal Cost of Funds-based Lending Rate (MCLR) across all tenors by up to 25 basis points, effective July 15, 2025. The revised rates now range from 7.95 percent to 8.90 percent, down from 8.20 percent–9.10 percent. The move is expected to bring[Read More…]

DOWNLOAD IPFS CEOs of major private sector banks in India received salary hikes ranging between 4% and 12% for the financial year 2024–25, with Ashok Vaswani, Managing Director and CEO of Kotak Mahindra Bank, drawing the highest annual compensation at ₹12.95 crore. According to annual disclosures, Vaswani’s remuneration included a[Read More…]

DOWNLOAD IPFS Banks and finance companies are being enlisted to accelerate insurance coverage in India’s Tier 2 and Tier 3 towns, according to remarks made by Keki Mistry, chairman of HDFC Life, during the company’s 25th annual general meeting. Mistry noted that the country’s life insurance penetration remains low, at[Read More…]

DOWNLOAD IPFS In a continued push for financial inclusion, approximately 1.4 lakh new accounts have been opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) as part of the ongoing saturation campaign, according to the Ministry of Finance. The initiative aims to bring unbanked individuals into the formal banking system,[Read More…]

DOWNLOAD IPFS Tesla has officially entered the Indian market with the launch of its Model Y electric vehicle (EV), opening its first showroom in Mumbai’s Bandra Kurla Complex. The move signals a strategic entry into one of the world’s fastest-growing automobile markets, although the company is initially taking a cautious[Read More…]

DOWNLOAD IPFS The State Bank of India (SBI) has been named the Best Consumer Bank in India and the Asia Pacific region by Global Finance magazine in its 2025 Best Banks Awards. The recognition comes as a result of SBI’s continued focus on financial performance, digital transformation, geographic reach, and[Read More…]

DOWNLOAD IPFS The Reserve Bank of India’s (RBI) latest three-day Variable Rate Reverse Repo (VRRR) auction, conducted on July 12, 2025, saw only partial participation, drawing ₹1.18 lakh crore against a notified amount of ₹2 lakh crore. This marks the second consecutive auction where the central bank was unable to[Read More…]