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 vari ...more

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 ...more

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 unifi ...more

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 RC ...more

Lenders also cannot levy pre-payment charges when it is at their instance