The government has approved an Emergency Credit Line Guarantee Scheme (ECLGS 5.0) with an outlay of Rs 18,100 crore to support MSMEs and airlines hit by the West Asia conflict, PTI reported.The scheme is expected to enable additional credit flow of Rs 2.55 lakh crore, including Rs 5,000 crore earmarked for the aviation sector.“The scheme…
Scheduled Commercial Banks (SCBs) recorded a robust 15.9 per cent growth in credit during FY2025-26, reflecting strong economic activity and sustained demand across sectors, the Finance Ministry said, PTI reported. Total outstanding bank credit stood at Rs 212.9 lakh crore in March 2026, an increase of Rs 29.2 lakh crore over the previous year. “Amidst…
Benchmark equity indices Sensex and Nifty ended lower on Tuesday as renewed geopolitical tensions around the Strait of Hormuz and a record-low rupee weighed on investor sentiment, PTI reported.In a volatile session, the 30-share BSE Sensex fell 251.61 points, or 0.33 per cent, to close at 77,017.79. During the day, it dropped as much as…
In a broad-based policy push spanning agriculture, infrastructure, manufacturing and financial support, the Union Cabinet on Tuesday cleared projects and schemes worth over Rs 1.52 lakh crore, signalling a strong focus on productivity, capacity expansion and strategic sectors.At the centre of the decisions is the Mission for Cotton Productivity – Kapas Kanti, with an outlay…
The government has identified 40 sub-sectors, including rare earth magnets and printed circuit boards, for expedited clearance of foreign direct investment (FDI) proposals from countries sharing land borders with India, PTI reported.Under the revised framework, proposals from countries such as China, Pakistan, Bangladesh, Nepal, Bhutan, Myanmar and Afghanistan in these sectors will be processed within…
The Department for Promotion of Industry and Internal Trade (DPIIT) has issued an updated standard operating procedure (SOP) for processing foreign direct investment (FDI) proposals introducing a defined 12-week timeline and a fully paperless application system, PTI reported.Under the revised framework, decisions on FDI proposals will be taken within 12 weeks, excluding the time taken…
The OPEC member is offering reductions of up to $33.40 per barrel on its benchmark Basrah Medium grade. (AI image) With oil supplies via the Strait of Hormuz still disrupted, Iraq is now offering deep discounts to buyers for picking crude from the country. Iraq has rolled out steep price cuts for buyers with term…
State-run fuel retailers will not receive government financial backing for losses arising from the sale of petrol, diesel and aviation turbine fuel (ATF) below cost, with the Centre confirming that no such proposal is under consideration.The three public sector oil marketing companies: Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation…
The report points out that India has consistently demonstrated notable strength during periods of global volatility. (AI image) Amid the ongoing Middle East conflict, a recent report by Moody’s Ratings says that recent global shocks have shown India’s resilience among emerging economies to withstand pressures. The report credits the resilience to timely policy measures and…
Kiran Mazumdar-Shaw, Biocon’s founder and chairperson, has identified her niece, Claire Mazumdar, as the future leader. Kiran Mazumdar-Shaw, Biocon’s founder and chairperson, has reportedly put in place a structured succession plan for the biotechnology firm, identifying her niece, Claire Mazumdar, as the future leader.Having built Biocon over more than four decades and without a direct…