A number of non-banking financial companies (NBFCs) have tapped into the debt capital market ahead of the festival season to meet increasing credit demand as bank funding slows. On Tuesday, Aptus Value Housing Finance secured Rs 300 crore at an interest rate of 8.75 per cent through bonds maturing in five years. ICICI Home Finance Company turned to the market to raise Rs 275 crore at 7.94 per cent, alongside another Rs 300 crore at 7.95 per cent, through bonds maturing in five and three years, respectively.
In a significant policy shift aimed at boosting agri-productivity and rural prosperity, Finance Minister Nirmala Sitharaman on Saturday announced six new agricultural schemes while increasing the subsidised Kisan Credit Card loan limit to Rs 5 lakh from the existing Rs 3 lakh, benefiting 7.7 crore farmers, fishermen, and dairy farmers.
With its age-old fascination for education, southern states have done better than the North. Start-ups, IT hubs, and industry majors setting up shop have changed the face of the South. Nearly 79% of global offices set up by international conglomerates in India are in the South. Almost 46% of tech unicorns are from the South. The GDP per person in the South is 4.2 times higher than the North. None of these indicators can be ignored by any central government, whatever the political compulsions, notes Ramesh Menon.
Tata Steel is in the process of filing a curative petition in the Supreme Court in connection with the apex court ruling which said that states have the power to levy cess on mining and mineral-use activities. The petition by the steel manufacturing firm is aimed at seeking remedy to the order, passed by a 9-judge Constitution Bench of the Supreme Court on July 25. However, Tata Steel's managing director and chief executive officer T V Narendran told Business Standard that there was no demand note on the firm.
These are the highlights of the Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman in Parliament on Saturday.
'The very fact that his autobiography is called India Rising is a correct example of his wish for India to be a developed country and do as best as possible by science reaching to the common people.'
This survey also shows how things have moved forward since the last large-scale sample survey conducted by NSSO in 2012-13
The TMC-led West Bengal government has already started laying the groundwork for the election, setting the tone with the recent Bengal Global Business Summit and the state Budget.
Rejecting Uttar Pradesh Chief Minister Mayawati's charge that his demand for Central Bureau of Investigation probe into Mahatma Gandhi National Rural Employment Guarantee Act implementation was "politically motivated", Rural Development Minister Jairam Ramesh on Friday said he would not hesitate to recommend similar investigation even in Congress-ruled states.
The Supreme Court of India has upheld a Bombay High Court order reinstating a woman as the sarpanch of a Maharashtra village, stating that bureaucrats cannot be allowed to "frustrate grassroot democracy." The court criticized instances of bureaucrats misbehaving with elected representatives and attempting to disqualify them by reopening old cases. The case involved Kalavati Rajendra Kokale, whose resignation from the sarpanch's post was withdrawn, but the Raigad district collector declared a vacancy and conducted a fresh election. The court found the collector's actions illegal and upheld Kokale's reinstatement, highlighting the importance of respecting the democratic process and elected representatives at the grassroots level.
Union rural development minister Jairam Ramesh has said states would not be allowed to ignore the findings of the social audits notified recently by his ministry on the National Rural Employment Guarantee Scheme (NREGS).
The Committee also expressed "strongest concern" over the decision of the Governemnt regarding cap on the total number of BPL families.
Apart from recruiting 18,000 women in state's police force, Thackeray said all female police stations will also be established in Maharashtra.
Ministry of rural development has asked chief secretaries of the states to inform about the remedial measures taken by them to ensure timely payment of wages to NREGA workers, an official said.
Banking on the Budget's tax relief, the BJP seeks to energise Delhi's middle class; the AAP is doing its bit too. But will their outreach mobilise this politically crucial yet disengaged electorate?
The Maharashtra government has become the owner of iconic Air India building with the Union government approving transfer of the asset on Thursday. The Maharashtra government bought the Air India building at Nariman Point in Mumbai for Rs 1,601 crore. "GoI has approved transfer of Air India building, Mumbai of AI Assets Holding Company Ltd (AIAHL) to Government of Maharashtra (GoM) at consideration of Rs.1601 cr. GoM has agreed to waive dues of Rs. 298.42 cr, which would have been otherwise payable by AIAHL to GoM for this transaction," DIPAM secretary Tuhin Kanta Pandey said in a post on X.
UP's representation in the government could diminish, given the BJP's decreased seat count in that state.
Mahmud went to Dhaka's Hazrat Shahjalal International Airport to "catch a flight en route to Delhi," an Airport Aviation Security official was quoted as saying by the Dhaka Tribune newspaper.
Latest GDP growth numbers a one-off development and not the beginning of a trend, says CEA V Anantha Nageswaran.
The recently anointed managing director and chief executive officer at Maruti Suzuki India Ltd tells Business Standard how he intends to get back to over 50 per cent share in the domestic market, apart from a larger role in the parent's global operations.
'If the Bill and Melinda Gates Foundation cuts funds, there could be more impact.'
'India has the maths talent, academic institutions, and research institutions to do the next big thing.'
Sir Osborne Smith was the first governor of the Reserve Bank, serving from April 1, 1935, to June 30, 1937.
India Inc on Thursday pitched for lowering income tax burden on common man, increase in capital expenditure, and firm steps to contain food inflation in their nearly two-hour long interaction with finance minister Nirmala Shitharaman ahead of the Union Budget. During pre-Budget consultation with Sitharaman, the industry leaders and associations also urged the government to focus more on infrastructure development with a view to maintaining the economic growth momentum. The industry leaders also laid stress on boosting the MSME (micro, small, and medium enterprises) sector, considered a backbone of the Indian economy and main employment generator.
India will be the world's third-largest economy by 2028 as it becomes the world's most sought-after consumer market and gains share in global output, driven by macro stability influenced policy and better infrastructure, Morgan Stanley said. From a $3.5 trillion economy in 2023, the Indian economy is projected to expand to $4.7 trillion in 2026, which will make it the fourth largest in the world behind the US, China and Germany.
In May, Satpal Singh, who runs a dairy business with three buffaloes in Jewar, near Noida, was worried about the steep spike in input costs. Singh said dry fodder rates, which cost Rs 1,500-2000 per tractor trolley last year, were quoting at Rs 4,500-5,000. The price of other cattle feed ingredients (that include mustard meal and similar mixes) had also gone up from Rs 2,000 per quintal to Rs 3,100-3,200 per quintal.
The scheme would check fake payments made under National Rural Employment Guarantee Act and ensure that the officials don't fudge the workers' wages, state rural development department sources said. Launched from Dharhar village of Paliganj area in Naxalite-hit Jehanabad district recently, the 'E-Shakti' scheme promises to cover each worker with smart cards carrying details about duration of work, the wage earned, photograph and registration number of the beneficiary.
The minister said for eligible persons belonging to the violence-hit families seeking self-employment, the government would facilitate loans through banks.
The ministry asked the state governments to ensure that the job cards had the unique identity number, photographs of the registered members, postal account number or bank account number, elector's photo identity card number, signature or thumb impression of the applicant, seal and signature of the registering authority and signature of the officer.
Making India a developed nation by 2047 is an ambition of every Indian, and states can play an active role in achieving this aim as they are directly connected with the people, Prime Minister Narendra Modi said on Saturday. Modi is chairing the 9th Governing Council meeting of NITI Aayog.
Maharashtra government on Wednesday decided to acquire the iconic Air India building at Nariman Point in Mumbai for Rs 1,601 crore. The decision was taken at a meeting of the state cabinet in Mumbai. The meeting, chaired by Chief Minister Eknath Shinde, also decided to waive off around Rs 250 crore unrealised income and interest on the property, an official said.
'When so many young Baloch men and women are willingly volunteering as fighters and even suicide bombers.'
While this will incur a revenue loss amounting to 0.2 per cent of GDP, it will provide a strong boost to consumer sentiment and spending, points out Rajani Sinha.
Union Agriculture Minister Sharad Pawar on Wednesday began his three-day tour to take stock of four drought-hit states of Maharashtra, Gujarat, Rajasthan and Karnataka.
'There's a misconception that all Rs 1 lakh crore will be spent immediately, leading to higher consumption of FMCG goods, travel, and vehicle purchases.' 'While some of this money will go toward consumption, not all of it will.' 'The impact depends on where people deploy their savings.'
Amid escalating tensions over the Sinjauli mosque in Shimla, a Muslim welfare committee on Thursday urged the municipal commissioner to seal the unauthorised portion and also offered to demolish it in accordance with a court order.
The World Bank will extend a loan of $1.5 billion (about Rs 6,800 crore) to India for building 24,000 km of all-weather roads in the rural areas of seven economically poor and hilly states like Uttar Pradesh and Himachal Pradesh.
'If you want to win you need to perform.' 'Governments have found a way to buck anti-incumbency, but one policy intervention will not pay in all elections.'
'Inflation is not good for industry. Nor for the economy as a whole.'
As RBI governor, Sanjay Malhotra will have to give the highest priority to the interest of the economy while deciding on the growth-inflation trade off at Mint Street.
