Can Your Savings Balance Impact Your CIBIL Score? Here’s the Truth

Your credit score plays a crucial role in securing loans and credit cards, but many are left wondering: does my savings account balance affect my CIBIL  score? Let’s break this down.

No Direct Link Between Savings and Credit Score

Credit scores, such as the CIBIL score, are based solely on your credit behaviour—how you manage borrowed money. This includes:

  • Credit cards
  • Loans
  • Repayment history
  • Outstanding balances
  • Credit utilisation
  • Number of inquiries

A savings account, on the other hand, is not a credit facility—you’re not borrowing money. Since there’s no debt involved, it doesn’t show up on your credit report and has no direct bearing on your credit score.

What Affects Your Credit Score?

Let’s explore the primary factors that influence your credit score:

1. Payment History

This is the most important factor. If you miss payments by more than 30 days, it negatively affects your score. Lenders report such delays to credit bureaus like CIBIL. 

2. Credit Utilisation Ratio

This is the percentage of credit you use compared to your total available credit. High utilisation—especially near your card limit—may indicate financial stress and lower your credit score.

3. Credit Inquiries

There are two types:

  • Soft Inquiry: Pre-approvals or personal credit checks. These do not affect your score.

  • Hard Inquiry: Actual credit applications. These do affect your score, as they show you’re seeking new debt.

So, Can a Savings Account Help Indirectly?

While it doesn’t feature in your credit report, maintaining a healthy savings balance can indirectly support good credit behaviour:

1. Emergency Cushion

Savings can help you avoid relying on credit cards or loans during financial emergencies, thus keeping your credit utilisation low and score stable.

2. On-Time Repayments

A buffer in your savings account ensures you’re able to pay EMIs and bills on time, even during income disruptions. This helps in maintaining a positive payment history.

3. Strengthens Loan Applications

Lenders often assess your bank account to understand your repayment capacity. If you’re applying for a home loan, most banks prefer you to have at least 2 months’ worth of EMIs saved, improving your approval chances.

Conclusion

Your savings account balance doesn’t directly impact your credit score or CIBIL report. However, a robust savings habit contributes to stronger financial discipline, which supports positive credit behaviour over time.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

₹2,500 Scheme for Women: Delhi Budget 2025 Allocates ₹5,100 Crore for Mahila Samriddhi Yojana

The Delhi government presented a ₹1 lakh crore budget for 2025–26 on March 25, marking a 31.5% increase from the previous year. This is the capital’s largest budget to date, with a focus on welfare schemes, infrastructure, and healthcare.

Mahila Samriddhi Yojana: ₹5,100 Crore Allocation

₹5,100 crore has been allocated to the Mahila Samriddhi Yojana, a direct cash transfer scheme for women. Under this initiative, eligible women in Delhi will receive ₹2,500 per month. The scheme was initially announced ahead of the Delhi Assembly elections. The increase from the previously proposed ₹2,500 crore indicates a wider rollout than originally planned.

Eligibility Criteria for Mahila Samriddhi Yojana

To qualify for the scheme, applicants must meet the following conditions:

  • Should be a woman citizen of India.
  • Should be a permanent resident of Delhi.
  • Should be at least 18 years old.
  • Should have an active bank account for fund transfer.

Documents Required for Registration

Applicants need to submit the following documents:

  • Should have an Aadhaar Card (for identity verification).
  • Should have a Ration Card (to prove economic status).
  • Should Provide Proof of Address (such as Voter ID or electricity bill).
  • Mobile Number For Registration (for OTP verification and updates).

How To Apply For This Scheme

  1. Visit the official website of Mahila Samriddhi Yojana.
  2. Click on “Register” to begin the application.
  3. Enter personal details, including name, Aadhaar number, bank account information and other necessary details.
  4. Upload necessary documents, such as Aadhaar card, proof of address, ration card and other documents if any are needed.
  5. Submit the application to complete the registration process.

Ayushman Bharat Implementation: ₹2,144 Crore

For the first time, Delhi will implement the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY), with ₹2,144 crore allocated for it in the budget. Delhi becomes the 35th state or union territory to adopt the scheme.

AB-PMJAY provides ₹5 lakh per family per year for secondary and tertiary hospitalisation. In Delhi, the government has announced an additional ₹5 lakh top-up, taking the total coverage to ₹10 lakh per family. The scheme is expected to benefit families in the bottom 40% income group. It also covers all senior citizens aged 70 and above for free treatment, regardless of income status.

Conclusion

The ₹1 lakh crore budget focuses on large-scale cash transfers to women, integration of central health schemes, and infrastructure development. Major allocations have been made to Mahila Samriddhi Yojana, Ayushman Bharat, and public health infrastructure.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

HCLTech and Western Union Forge Forms Strategic Partnership for Digital Transformation

HCL Technologies (HCLTech) and Western Union have announced a strategic partnership to drive innovation and transformation in the financial services industry. This collaboration positions HCLTech as Western Union’s largest preferred partner, leveraging advanced AI and digital solutions to enhance operational efficiency and customer experience.

Enhancing Digital Capabilities with AI and Cloud Solutions

Western Union will utilise HCLTech’s AI-powered solutions, FENIXAI and AI Force, to transition towards a platform-centric operating model. This shift will provide greater agility and scalability while improving enterprise-wide infrastructure resilience. Additionally, HCLTech’s expertise in digital, cloud, and AI will enable Western Union to accelerate platform and channel transformation, ensuring seamless and innovative customer interactions.

HCLTech will further drive digital engineering initiatives, implementing full-stack observability, automation, and AI-assisted methods to enhance efficiency. These efforts will enable Western Union to modernise its technology landscape, making it more robust and future-ready.

Expanding Technological Footprint in India

As part of this collaboration, Western Union and HCLTech will establish an advanced technology centre in Hyderabad, India. This initiative will strengthen Western Union’s global technology capabilities, fostering innovation and creating new talent development opportunities.

C Vijayakumar, CEO and Managing Director of HCLTech, stated, “This strategic partnership emphasises our focus on empowering fintech companies through digital engineering-led transformation and creating exceptional value for their stakeholders. We remain deeply committed to Western Union’s growth journey through innovative solutions that deliver real business outcomes.”

HCL Tech Share Performance 

As of March 25, 2025, at 10:53 AM, the share price of HCL Technologies is trading at ₹1,632.25 per share, reflecting an upside of 1.75% from the previous closing price. Over the past month, the stock has declined by 0.25%.

Conclusion

The partnership between HCLTech and Western Union marks a significant step in financial technology transformation. By integrating AI, cloud solutions, and digital engineering, this collaboration aims to enhance operational efficiency, customer experience, and innovation in the financial services industry.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Sterling and Wilson Renewable Energy Appoints Ajit Pratap Singh as CFO Effective March 24

Sterling and Wilson Renewable Energy Limited has announced the appointment of Mr. Ajit Pratap Singh as its new Chief Financial Officer (CFO), effective from 24th March 2025. This decision follows the recommendations of the Nomination and Remuneration Committee and the Audit Committee.

Leadership Transition

Mr Ajit Pratap Singh will replace Mr Sandeep Mathew, who has been serving as the interim CFO. With effect from the close of business on 23rd March 2025, Mr Mathew will step down from his interim role but will continue to oversee Investor Relations. The appointment aligns with the company’s strategic goals of strengthening financial leadership.

Profile of the New CFO

Mr. Singh brings extensive financial expertise, holding multiple qualifications in finance, law, and business administration. His previous experience spans leading organisations like Vedanta Aluminium Limited, JSW Bengal Steel Limited, and South African Coal Mine Holdings. His diverse background and qualifications make him a valuable addition to the leadership team.

Sterling & Wilson Renewable Energy Share Performance

As of March 25, 2025, at 11:15 AM, the shares of Sterling & Wilson Renewable Energy are trading at ₹256.15 per share, reflecting a drop of 1.59% from the previous closing price. Over the past month, the stock has declined by 2.05%.

Conclusion

The appointment of Mr Ajit Pratap Singh as CFO marks a significant leadership shift at Sterling and Wilson Renewable Energy Limited. His expertise is expected to drive the company’s financial strategy and operational efficiency.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

 

Ola Electric Shares in Focus On Dispute Settlement With Rosmerta Group

Ola Electric Mobility Ltd.’s share price is in focus as it settled all outstanding dues with Rosmerta Group, bringing an end to the legal proceedings between the two entities. The resolution involves Ola Electric’s wholly owned subsidiary, Ola Electric Technologies Pvt. Ltd., and follows a petition filed by Rosmerta under Section 9 of the Insolvency and Bankruptcy Code, 2016.

As of 10:40 AM on March 25, 2025, Ola Electric Mobility Ltd.’s shares were trading at ₹55.53, down ₹1.00 or 1.79% for the day. Over the past six months, the stock has declined by approximately 2%. The company’s market capitalisation stood at ₹24,100 crore.

Ola Paid ₹26.75 Crore 

Rosmerta confirmed the receipt of ₹26.75 crore from Ola Electric, which covers the entire claim raised before the National Company Law Tribunal (NCLT), Bengaluru. The group has filed a memorandum with the NCLT to withdraw its petitions. There are no pending claims or disputes between the companies as per the terms of the executed settlement agreement.

Background of the Dispute

Rosmerta Digital Services Ltd., which offers vehicle registration services and manufactures high-security number plates, filed the insolvency petition against Ola Electric Technologies, alleging non-payment of dues amounting to approximately ₹18-20 crore. The petition sought to initiate the Corporate Insolvency Resolution Process (CIRP) against Ola Electric Technologies.

Regulatory Disclosure

On March 25, 2025, Ola Electric submitted a regulatory filing to both NSE and BSE, confirming the settlement and withdrawal of the insolvency petition. The disclosure mentioned that there are no further causes of action remaining between the parties. The company also uploaded the media statement and regulatory notice on its investor relations website.

Conclusion

With the settlement completed, Rosmerta Group is no longer pursuing legal action. The matter is considered closed, and the relationship between both parties is now governed by the terms of the settlement agreement​

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

IndusInd Bank Receives ₹30.15 Crore GST Penalty Order for Multiple Issues

IndusInd Bank Ltd has received a penalty order of ₹30.15 crore from the Joint Commissioner of CGST & Central Excise, Thane Commissionerate. The order was issued on March 24, 2025, under Section 122(1)(ii) of the CGST Act, 2017, citing various GST-related issues. The bank stated in a regulatory filing that it is evaluating legal options and may file an appeal against the order.

As of 10:51 AM on March 25, IndusInd Bank Ltd was trading at ₹644.15, down ₹25.30 or 3.78% for the day. Over the past month, the stock has declined by 37.72%, and it has fallen 55.25% over the last six months.

Nature of Action and Disclosure

The penalty is solely on account of GST-related matters. The bank has not disclosed specific details regarding the nature of the GST issues involved. As required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the disclosure was made to the stock exchanges and is also available on the bank’s official website.

The penalty amount is ₹30,15,18,000. The bank has not indicated any operational impact arising from the order. The financial implication is limited to the penalty amount.

Q3FY25Financials

For the third quarter, IndusInd Bank reported a net profit of ₹1,402.3 crore, compared to ₹2,301 crore in the same quarter last year. This marks a year-on-year decline of 39%.

Net Interest Income (NII) stood at ₹5,228.1 crore, down 1.3% from ₹5,295.6 crore in the corresponding quarter of the previous year.

Asset Quality 

The bank reported an increase in bad loans during the quarter. Gross Non-Performing Assets (GNPA) rose to ₹8,375.3 crore from ₹7,638.5 crore in the previous quarter. The GNPA ratio increased to 2.25%, compared to 2.11% in Q2 FY25.

Net Non-Performing Assets (NNPA) rose to ₹2,495.8 crore from ₹2,282 crore. The NNPA ratio increased to 0.68% from 0.64%.

Conclusion 

The bank has not indicated any immediate operational disruptions due to the penalty. However, it is currently assessing legal options and may choose to challenge the order. Further updates are expected through regulatory filings as the matter progresses.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Hyundai Motor India Approves ₹694 Crore Investment for Tooling Centre

Hyundai Motor India Ltd. has approved an investment of ₹694 crore to set up a local tooling centre. According to a stock exchange filing on Monday, the facility will focus on the manufacturing of stamping tools and panel production for vehicles. The tooling centre is expected to support operations at the company’s existing Chennai plant and the upcoming manufacturing facility in Talegaon, near Pune.

As of 10:30 AM on March 25, shares of Hyundai Motor India were trading at ₹1,733.30, down ₹25.70 or 1.46% for the day, but up 8.37% over the past five days and down 4.74% over the last six months.

Talegaon Plant to Expand Production 

The Talegaon plant is scheduled to begin operations later in 2025. Once functional, Hyundai’s total annual production capacity in India will increase from 900,000 units to 1.1 million units. The local tooling facility is for stabilising the supply chain and improving production timelines by enabling the in-house development of vehicle components.

Price Hike Announced for April 2025

Last week, Hyundai announced a price hike of up to 3%, effective April 1, 2025. The price increase will vary across different models and variants. The company cited rising input costs, commodity prices, and operational expenses as key reasons for the adjustment. This will be the second price hike of the year. In January 2025, prices were raised by up to ₹25,000 across various models.

Q3 Financial Results

For the quarter ended December 31, 2024, Hyundai Motor India reported a 19% year-on-year decline in consolidated net profit at ₹1,124 crore, compared to ₹1,425 crore in the same quarter of the previous year. Consolidated revenue from operations stood at ₹16,648 crore, down from ₹16,875 crore in the corresponding period last year.

Sales and Exports

In Q3 FY25, Hyundai sold a total of 186,408 passenger vehicles. Of these, 146,022 units were sold in the domestic market. Export volumes for the quarter stood at 40,386 units. The company recorded a CNG penetration of 15%, up from 12% in the previous year. Rural penetration increased to 21.2%, from 19.7% year-on-year.

Conclusion

The tooling centre adds to Hyundai’s ongoing production plans in India, with a focus on increasing local output and meeting demand. It comes at a time when the company is adjusting prices and production targets while managing shifts in sales and profit.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Banks Stay Cautious on FCNR Deposit Rates Despite RBI Relaxation

Foreign Currency Non-Resident (FCNR-B) deposits have seen limited inflows even after the Reserve Bank of India (RBI) allowed banks to raise deposit rates by up to 150 basis points in December 2024. This was aimed at improving foreign currency inflows, with the relaxation in place until March 31, 2025. However, banks reported just $58 million in FCNR-B inflows for December. 

Combined inflows for December and January stood at $612 million, compared to $960 million in the previous two months. Inflows peaked at $1.876 billion in September 2024.

Global Borrowings Remain Cheaper

Many banks are opting for foreign currency funds through syndication loans and other overseas borrowings, which are currently more cost-effective than raising FCNR-B deposits. Softening interest rates in global markets have made these funding routes more accessible. 

As a result, banks are not increasing FCNR-B rates aggressively, despite the RBI’s temporary relaxation.

Limited Change in FCNR-B Rates

Some banks have left their FCNR-B deposit rates unchanged for several months. For instance, Indian Overseas Bank has not revised its rates since October 2024. CSB Bank also confirmed that its existing inflows are sufficient to meet foreign currency lending requirements, so there has been no immediate need to revise rates upward.

Flat Demand for Foreign Currency Loans

The demand for foreign currency loans within India has remained largely unchanged. This has further reduced the incentive for banks to increase deposit rates to attract additional foreign currency funds. Institutions like Karur Vysya Bank have indicated a preference for more cost-effective sources of capital, given the stagnant demand.

Selective Use of FCNR Deposits

Some banks are seeing continued interest from existing customers who use FCNR-B accounts as a hedge against currency risk. However, this interest has not translated into higher deposit rates or significant changes in overall strategy.

Conclusion

Banks are to continue with a cautious approach unless there is a notable shift in global rates or domestic demand for foreign currency credit.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

EPFO and ESIC to Conduct Nidhi Apke Nikat 2.0 on March 27

The Employees’ Provident Fund Organisation (EPFO) and the Employees’ State Insurance Corporation (ESIC) are launching another edition of Nidhi Apke Nikat 2.0, a nationwide outreach programme. This initiative aims to directly engage with stakeholders and address their grievances efficiently, ensuring seamless support for employees, employers, and pensioners.

Nationwide Outreach for Grievance Redressal

The Employees Provident Fund Organisation (EPFO) and the Employees’ State Insurance Corporation (ESIC) are jointly organising Nidhi Apke Nikat 2.0, an outreach programme aimed at addressing the grievances of their stakeholders. This initiative seeks to reach every district across the country, ensuring accessibility for EPF members, ESI-insured persons (IPs), employers, pensioners, and trade unions.

Event Details and Participation

The programme will take place on 27th March at three locations:

  • Coimbatore – No 91, SIDCO Kurichi Industrial Estate, First Floor, near IOB
  • Udumalpet – VAV International School, Dhali Road, Elayamuthur Pirivu
  • The Nilgiris – Doddabetta Tea Factory, Doddabetta Road, Mel Kodappamund, Udhagamandalam

Stakeholders can visit the nearest venue between 10:30 a.m. and 12:30 p.m. to seek resolution for their concerns. Individuals must carry relevant details such as their UAN, PF account number, PPO number, or IP number for effective grievance redressal. Complaints related to EPFO can also be sent via email to pghs.rocbe@epfindia.gov.in, while ESIC grievances can be shared at benefit-srkovai@esic.nic.in.

Conclusion

This initiative reinforces EPFO and ESIC’s commitment to resolving stakeholder concerns efficiently. By ensuring widespread accessibility, Nidhi Apke Nikat 2.0 continues to strengthen engagement and support for employees and employers alike.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mahila Samman Savings Scheme: Now Account Holders Can Early Withdrawal 40% Of Savings

The Department of Posts has introduced a new withdrawal feature under the Mahila Samman Savings Scheme (MSSC). As per an official directive issued on March 7, 2025, account holders can now withdraw up to 40% of their total deposit before the scheme’s maturity. This functionality is now active through the India Post Finacle system.

Withdrawal Procedure

To withdraw funds, account holders are required to visit the post office where their MSSC account is maintained. A withdrawal request form must be filled out and submitted along with valid identification proof. The Finacle system will process the request and calculate interest up to the last quarterly interest due date. Once processed, the withdrawn amount will be transferred to the account holder’s linked bank account.

Scheme Details

The Mahila Samman Savings Scheme was launched on April 1, 2023, and is open for investments until March 31, 2025. It is available to women aged 18 years and above. Guardians can open accounts on behalf of minor girls. The scheme offers a fixed interest rate of 7.5% per annum, with a lock-in period of two years. 

The minimum deposit allowed is ₹1,000, and the maximum investment limit is ₹2 lakh per individual.

Offline Process

The investment and withdrawal processes for MSSC are completely offline. Investors must visit designated post offices or select banks to open an account or initiate any transactions. Digital onboarding is not available for this scheme.

Implementation Through Finacle

The 40% withdrawal feature is integrated into India Post’s Finacle system. This ensures automatic interest calculation based on the last quarterly due date. A Standard Operating Procedure (SOP) has been issued by the Department of Posts to guide officials on how to process these requests correctly.

Conclusion

The early withdrawal feature under MSSC became operational on March 7, 2025. As the final investment deadline approaches on March 31, 2025, eligible individuals may consider this update while managing their savings or planning future withdrawals.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.