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  Bengaluru-based shared office space provider IndiQube has got approval from markets regulator Securities and Exchange Board of India (Sebi) to raise Rs 850 crore through an initial public offer. Led by co-founders Rishi Das and Meghna Agarwal, the company is among a slew of co-working players that are charting out funding plans through public listings amid a rise in flex space leasing, with corporates increasingly pushing employees to work from offices. According to the draft red herring prospectus (DRHP) filed in December 2024, IndiQube's proposed IPO includes a fresh issue of equity shares worth Rs 750 crore and an offer for sale (OFS) of Rs 100 crore. Of the amount it plans to raise, Rs 426.6 crore will go towards capital expenditure, Rs 100 crore for debt repayment or prepayment, and the remainder for general corporate purposes. ICICI Securities Limited and JM Financial Limited are the book running lead managers for the offering. Backed by venture capital firm WestBridge Capi...

  The Reserve Bank of India (RBI) on Tuesday said the joint account in banks can be continued after the death of a central government pensioner if the spouse, who is authorised to receive family pension, is the survivor. Banks should not insist on opening a new account in the case of a central government pensioner, and the family pension should be credited to the existing account, the RBI said in its Frequently Asked Questions (FAQ) for Payment of Pension to Government Pensioners. Referring to the acknowledgement of life certificates, the RBI said there have been complaints about misplacement of life certificates submitted to bank branches, causing delays in the payment of monthly pensions. Banks were asked to mandatorily issue duly signed acknowledgements on receiving life certificates to alleviate the hardships faced by pensioners, it added. They were also requested to consider entering the receipt of life certificates in the Core Banking System (CBS) and issue a system-generated...

  The Reserve Bank of India (RBI) has reduced the repo rate by 25 basis points from 6.50% to 6.25% in its monetary policy review as announced on February 7, 2025. After the RBI repo rate cut, banks such as SBI, Canara Bank, PNB, and Union Bank among others have cut their repo linked lending rates. Most other banks are also expected to cut their lending rates in line with the RBI rate cut. After banks cut their lending rates, their home loan borrowers will have to pay less interest. Normally, when a lender cuts the lending rate, borrowers get two options: Either to go for a reduction in EMIs or reduce the tenure of the loan. The second option will help the borrowers clear their home loan outstanding faster. In case, the borrower goes for reduction in EMI then the lower lending rate of the lender would mean lower Equated Monthly Installment (EMI) for borrowers.   EMI is the amount you will pay on a specific date each month till the loan is repaid in full.A repo rate-linked home ...

  The Indian startup sector received a boost with Finance Minister Nirmala Sitharaman announcing the establishment of a new fund of funds (FoF) in the Budget 2025. The minister unveiled a fresh FoF with an expanded scope, allocating Rs 10,000 crore. The initial fund of funds announced by the government with an investment of Rs 10,000 crore successfully catalysed commitments worth Rs 91,000 crore, the minister said.   “The renewal of the Rs 10,000 crore commitment to the Fund of Funds for alternative investment funds (AIFs) is a significant step forward for the Indian startup and investment ecosystem. The initial Rs 10,000 crore commitment catalysed Rs 91,000 crore in investments, and I fully expect this fresh infusion to attract an additional Rs 1 lakh to Rs 1.5 lakh crore in capital,” said Anirudh Damani, managing partner, Artha Venture Funds.   Damani further added that this initiative will provide much-needed growth capital to early-stage startups, further strengthenin...

BUDGET 2025 HIGHLIGHTS THE FINANCE BILL, 2025   (PDF) MEMORANDUM EXPLAINING THE PROVISIONS IN THE FINANCE BILL, 2025   (PDF)

  11:11 AM, 'Establishment of Centre of Excellence for AI will drive innovation' According to Indranil Manna Vice Chancellor, BIT Mesra, Ranchi, "The much-awaited Union Budget 2025 delivers a promising roadmap for India's education sector. The establishment of a Centre of Excellence for AI in Education with an outlay of Rs 500 crore will drive innovation and cutting-edge research in artificial intelligence and emerging technologies." Manna added, "In addition, the expansion of infrastructure in IITs, allowing for 6,500 additional seats will further strengthen India's technical education ecosystem. We are also encouraged by the focus on skilling through five National Centres of Excellence and the Deeptech Fund of Funds, which will facilitate and empower our youth to lead in global technological advancements."10:50 AM'Budget 2025-26 a good step towards self-sustainability'According to Dr Abhinav Priyadarshi Tripathi, Associate Professor, Christ...