Category: Finance

Finance Minister Nirmala Sitharaman has raised the lending target for public sector banks to micro, small, and medium enterprises (MSMEs) by nearly 35% for the current financial year, setting a new goal of Rs 5.7 lakh crore. She emphasized that no small business should be denied access to funding and called on public sector banks […]

Congress on Sunday attacked the BJP after a case was lodged against Finance Minister, Nirmala Sitharaman and others on a complaint relating to the now-scrapped electoral bonds scheme and demanded her resignation for “undermining democracy”. The opposition party reiterated its demand for a Supreme-court monitored inquiry through an SIT into the whole electoral bond scheme. […]

In addition to the Companies Act amendments, the Ministry of Corporate Affairs is also working on changes to the Insolvency and Bankruptcy Code (IBC). The proposed amendments will further clarify the priority of repayments owed by distressed companies to statutory agencies. The Government has likely finalized amendments to the Companies Act, aiming to ease capital […]

Under CGTMSE, the guarantee cover available for micro enterprises is up to 85% for loans up to Rs 5 lakhs, while for loans between Rs 5 lakhs and Rs 5 crores, the cover is up to Rs 75%. Rajneesh also noted the 5-crore Udyam registration milestone achieved last week as part of the Ministry’s drive […]

The number of Global Capability Centres (GCCs) set up in India, increased to around 1,700 in fiscal 2024, generating $64.6 billion in export revenue and employing over 1.9 million people, a new report has said, with the country expanding its dominance in this space even as GCCs emerge as critical nerve centres for multinational companies. […]

Moody’s Ratings boosted India’s GDP growth forecast to 7.2% for 2024 and 6.6% for 2025, highlighting solid growth and moderating inflation as key factors. The update also notes improvements in corporate balance sheets, rural demand and digital infrastructure investments, signalling a robust economic outlook for the country. The ratings agency noted that growth could exceed […]

Reserve Bank of India Governor, Shaktikanta Das received an ‘A+’ rating from Global Finance magazine, ranking the top central banker globally for the second year. The recognition acknowledges his adept handling of economic crises, including the Covid-19 pandemic and the war in Ukraine. Das was also instrumental in shaping the GST framework and key economic […]