The RBI has prohibited prepayment penalties on floating-rate personal and small business loans to simplify lending and facilitate lender switching. Effective January 1, 2026, this directive applies to loans sanctioned or renewed by various financial institutions. The waiver extends to loans up to Rs 50 lakh for smaller lenders, ensuring transparency and fairness in loan…
Analysts predict midcap IT firms will likely surpass large caps in the June quarter, showing steady deal signings despite economic uncertainties. While large caps, except Infosys and LTIMindtree, may face revenue declines, midcaps like Coforge and Persistent are expected to grow. Cross-currency tailwinds should further bolster earnings.
RBI is advocating for a secure, unique borrower identifier to eliminate data duplication and inaccuracies within credit bureaus, ultimately aiming to improve loan accessibility. This initiative is coupled with the development of a unified lending interface and the exploration of digital rupees for targeted lending programs.
SBI has classified Reliance Communications’ loan account as fraudulent, implicating former director Anil Ambani and planning to report him to the RBI. This action, stemming from a 2020 forensic audit, triggers legal challenges amidst RCom’s insolvency proceedings. Allegations include significant fund diversions to connected parties, prompting accusations of unfair targeting against Ambani.
Ready-to-cook meals are experiencing a surge in popularity, doubling in volume over the past two years as 18 million more households embrace the convenience. While ready-to-eat options decline, consumers increasingly favor semi-cooked alternatives that offer a balance of speed and a home-cooked feel.
Prada’s controversial sandal design, strikingly similar to traditional Kolhapuri chappals, has ignited a surge in sales and interest for the Indian footwear. The uproar, fueled by nationalist sentiment and social media buzz, prompted Prada to acknowledge the inspiration and consider collaboration with local artisans. Indian brands are seizing the opportunity, hoping to elevate Kolhapuri craftsmanship…
Donald Trump’s net worth is complex to calculate, with estimates potentially reaching $10 billion due to cryptocurrency investments. His wealth includes real estate, stocks, and Truth Social shares. Legal battles and substantial debts, exceeding $640 million, further complicate his financial picture, impacting his overall net worth assessment.
