Real estate firm Kalpataru sets IPO price band at Rs 387-414/share
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
29 minutes ago
- India Today
RBI bars foreclosure charges on floating rate loans to micro, small businesses
The Reserve Bank of India has barred banks and non-banking financial companies (NBFCs) from charging prepayment penalties on floating rate loans to micro and small enterprises (MSEs), effective for all loans sanctioned or renewed on or after January 1, directive, issued under the Reserve Bank of India (Pre-payment Charges on Loans) Directions, 2025, follows a supervisory review that found divergent practices among lenders. The review revealed that several institutions were levying prepayment charges inconsistently and, in some cases, including restrictive clauses in loan agreements to discourage borrowers from switching to other lenders offering better the importance of "easy and affordable financing" for MSEs, the central bank noted that such clauses often led to customer grievances and disputes, particularly when borrowers sought to refinance their loans at lower interest to the new rules, no prepayment charges will be allowed on floating rate loans to MSEs or to individuals borrowing for business purposes. This applies regardless of whether the loan is prepaid in part or full, and irrespective of the source of funds used to make the prepayment. The exemption will apply from the first day of the loan, with no lock-in exception has been made for certain categories of lenders, including small finance banks, regional rural banks, state and central co-operative banks, and NBFCs in the middle regulatory layer, which are already barred from levying prepayment penalties on loans up to Rs 50 lakh. This framework will continue unchanged for these the case of cash credit and overdraft facilities, the RBI has clarified that no prepayment charges will apply if the borrower informs the lender of their intention not to renew the facility within the agreed period and ensures that it is closed by the due strengthen transparency, the central bank has directed lenders to clearly disclose all applicable prepayment terms in the sanction letter, loan agreement and the Key Facts Statement (KFS), wherever applicable. Retrospective charges will not be allowed, and lenders cannot reintroduce any fees that were previously borrowers were already exempt from prepayment penalties under earlier rules. With this move, the RBI is extending similar protections to small businesses, which often face tighter credit conditions and limited ability to negotiate loan decision follows public consultations on a draft circular issued in February and is part of the RBI's broader effort to standardise customer-facing terms and reduce friction in the credit market.- Ends advertisement
Time of India
33 minutes ago
- Time of India
Microsoft to cut about 4% of jobs amid hefty AI bets
Microsoft will lay off nearly 4% of its workforce, the company said on Wednesday, in the latest job cuts as the tech giant looks to rein in costs amid hefty investments in artificial intelligence infrastructure. The company, which had about 228,000 employees worldwide as of June 2024, had announced layoffs in May, affecting around 6,000 workers. It was planning to cut thousands of jobs, particularly in sales, Bloomberg News reported last month. The Windows maker had pledged $80 billion in capital spending for its fiscal year 2025. However, the soaring cost of scaling its AI infrastructure has weighed on its margins, with its June quarter cloud margin expected to shrink from last year. Microsoft said on Wednesday it planned to reduce organizational layers with fewer managers and streamline its products, procedures and roles. The Seattle Times first reported on the layoffs earlier on Wednesday. Separately, Bloomberg News reported Microsoft's Barcelona-based King division, which makes the Candy Crush video game, is cutting 10% of its staff, or about 200 jobs. Big Tech peers, which are investing heavily in artificial intelligence, have also announced job cuts. Facebook parent Meta earlier this year said it would trim about 5% of its "lowest performers", while Alphabet's Google has also laid off hundreds of employees in the past year. Amazon has also cut jobs across its business segments, most recently in its books division. The company had earlier laid off employees in its devices and services unit, and communications staff.
Time of India
36 minutes ago
- Time of India
NFO Alert: Invesco Mutual Fund launches Income Plus Arbitrage Active Fund of Fund
Live Events Invesco Mutual Fund has announced the launch of its new fund Invesco India Income Plus Arbitrage Active Fund of Fund , an open-ended fund of fund scheme investing in units of actively managed debt-oriented schemes and equity arbitrage new fund offer or NFO of the fund is open for subscription and will close on July Read | Record inflow of over Rs 15,000 crore in May. What is making arbitrage mutual funds gain investors' interest? The fund is designed to provide investors with a smarter and simpler alternative to traditional debt investments, according to a press release by the fund fund aims to generate income by investing in a dynamic mix of actively managed debt-oriented schemes and equity arbitrage schemes, offering a unique blend of stability, tax efficiency, and operational ease. The fund is ideal for investors seeking low-risk income with enhanced tax efficiency in the long term, the release 60-65% will be invested in debt-oriented schemes, with a primary focus on Invesco India Debt Fund, based on market opportunities in high-quality corporate bond funds that invest in AAA-rated corporate bonds and sovereign the current market dynamics, large allocation will be done in Invesco India Corporate Bond Fund (allocation to debt schemes will be less than 65%) which as of now provides participation in AAA rated corporate bonds largely in 2-5 year space and G-Sec in 5-15 year fund will invest 35–40% in Invesco India Arbitrage Fund, which captures price differentials between cash and derivatives markets with fully hedged equity held for over 24 months are taxed at a 12.5% long-term capital gains rate, compared to traditional debt funds taxed at slab rates, the release Read | JioBlackRock launches mutual fund access on MyJio, calls it a new era of investing 'With the evolving investment landscape, conservative investors are seeking options that align with their risk tolerance while enhancing tax efficiency. As the fixed income market remains in a sweet spot, the Invesco India Income Plus Arbitrage Active Fund of Fund offers a smart alternative to traditional debt investments—an efficient combination of arbitrage and fixed income strategies that provides relatively lower risk & a better tax efficiency,' said Vikas Garg , Head of Fixed Income & Fund Manager, Invesco Mutual minimum investment amount during the NFO is Rs 1,000 and in multiples of Re 1 thereafter. For SIP investments, the minimum application amount is Rs 1,000 and in multiples of Re 1 thereafter. No exit load will be charged to investors.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
