Business

Celebrating 11 Years of Financial Empowerment Through Mudra Yojana On the 11th anniversary of the Pradhan Mantri Mudra Yojana, Union Home Minister and Minister of Cooperation Shri Amit Shah highlighted the scheme's transformative role in India’s economic landscape. Shah emphasized how the government, led by Shri Narendra Modi, has successfully powered small traders and startups. The core mechanism lauded is the provision of collateral-free loans, directly energizing the sectors of self-employment and small industries.The Minister stated that the scheme has provided new strength to the backbone of the Indian economy. This initiative underscores a major governmental push towards fostering grassroots entrepreneurship nationwide.Scale...

Bhubaneswar, April 8 – Karan Adani, Managing Director of Adani Ports and Special Economic Zone (APSEZ), announced on Wednesday that the company will invest ₹33,081 crore in Odisha across three projects – a data centre in Bhubaneswar and a thermal power plant and a cement manufacturing unit near Cuttack – which will create a total of 9,700 jobs.The first project is a data centre in Bhubaneswar, with an investment of ₹800 crore, which he said will support the digital economy and create around 200 jobs.The second is a large thermal power plant near Cuttack, worth ₹30,181 crore, expected to generate about 7,000 jobs and strengthen power supply for industries and households.The third project is a cement manufacturing unit near Cuttack...

Transforming Urban Waste into Economic Opportunity in Navi Mumbai Navi Mumbai's municipal landscape is pioneering a systemic solution to a massive urban challenge. The city’s Textile Recovery Facility (TRF) is actively transforming post-consumer textile waste into valuable opportunities. This innovative process is not only curbing landfill burden but is also generating sustainable livelihoods for local communities.Under the framework of Swachh Bharat Mission-Urban 2.0, the initiative establishes a robust, scalable model for waste management across urban India. It addresses the fact that India generates nearly 7.8 million metric tonnes of textile waste annually. This waste stream, encompassing everything from sarees and uniforms to...

New Delhi, April 8 – The domestic e-commerce market is expected to grow by more than 150 per cent within four years, driven by the addition of 150 million new digital shoppers and a doubling of per capita spending, according to a new report.According to a joint report by Google and Deloitte, the online business market is undergoing a major transformation and is projected to grow to $250 billion by 2030 from about $90 billion at present – a 177 per cent jump.The report also highlighted that a 220-million-strong Gen Z cohort is expected to account for 45 per cent of online spending, accelerating the shift towards AI-powered shopping experiences.It pointed out '4I' key growth drivers – Inspired, Intelligent, Instant and Immersive –...

Mumbai, April 8 The Reserve Bank found no governance or conduct-related issues during its supervisory inspection of HDFC Bank, Governor Sanjay Malhotra said on Wednesday.Responding to a question at the post-monetary policy press conference on the sudden resignation of HDFC Bank Chairman Atanu Chakraborty and the subsequent fall in its share price, Malhotra said the RBI had also reviewed the minutes of the lender's meetings, and found nothing of material concern.He said the RBI had also stated in its press release on March 19 that there were no material concerns regarding the bank's conduct or governance."HDFC Bank is a Domestic Systemically Important Bank (D-SIB) with sound financials, a professionally run board, and a competent...

The Pradhan Mantri MUDRA Yojana (PMMY) has cemented its role as a pivotal engine for India's grassroots economy. Over eleven years, the scheme has facilitated significant financial access, empowering millions of small entrepreneurs. This growth narrative highlights the successful transition from informal borrowing to a structured, technology-driven financial framework.Deep Dive into Financial Inclusion and Micro-Lending Power PMMY was conceptualized with the goal of "Funding the Unfunded," addressing the historic gap in credit access for small businesses. Previously, micro-enterprises often depended on local moneylenders due to a lack of collateral or formal financial documentation.The scheme counters this challenge by offering...

New Delhi, April 8 Adani Group stocks were in the spotlight on Wednesday, with Adani Total Gas and Adani Green surging by over 13 per cent, in line with a sharp rally in the broader equity market.A US judge granted a request from billionaire Gautam Adani to schedule a hearing in efforts to dismiss a US Securities and Exchange Commission fraud case, which he claims lacks necessary jurisdiction as well as fails on multiple grounds.This followed lawyers representing Adani and his nephew, Sagar, filing a plea seeking dismissal of the case.Shares of Adani Total Gas jumped 13.44 per cent, Adani Green soared 13.14 per cent, NDTV rose 12.26 per cent, and Adani Enterprises Ltd rallied 11 per cent on the BSE.Additionally, shares of Adani...

New York, April 8 A US judge has granted a request from billionaire Gautam Adani to schedule a hearing in his effort to dismiss a US Securities and Exchange Commission fraud case, which he claims lacks necessary jurisdiction and fails on multiple grounds.This followed lawyers for Adani and his nephew, Sagar, filing a plea seeking dismissal of the case."The court has received the defendants' letter requesting a pre-motion conference on their anticipated motion to dismiss the complaint. The court GRANTS that request and DIRECTS the parties to schedule the pre-motion conference," the Eastern District court of New York said in its order.In the filing, the Adanis' lawyers said there was no credible evidence to support the alleged...

New Delhi, April 8: The Pradhan Mantri MUDRA Yojana (PMMY) has disbursed over ₹40 lakh crore through 57.79 crore loans, marking 11 years of its implementation, the government said on Wednesday.The Ministry of Finance stated that the scheme, launched by Prime Minister Narendra Modi in 2015, aims to "fund the unfunded," providing collateral-free loans of up to ₹20 lakh to micro and small non-corporate, non-farm enterprises.Highlighting the progress, Finance Minister Nirmala Sitharaman said the scheme has played a key role in reshaping the credit landscape for MSMEs and individual entrepreneurs who were earlier excluded from the formal banking system."Over the past decade, India has witnessed a silent transformation where millions of...

Mumbai, April 8 – The Reserve Bank of India maintained its key policy rate unchanged on Wednesday, adopting a cautious approach while assessing the impact of the six-week Iran conflict on energy supplies, inflation, and economic growth.The central bank's Monetary Policy Committee voted unanimously to keep the benchmark repurchase rate at 5.25 percent, highlighting increased uncertainty due to the West Asia conflict, which led to a sharp rise in crude prices, weakened the rupee, and disrupted trade flows.The RBI's policy stance remained neutral.RBI Governor Sanjay Malhotra stated that geopolitical uncertainties had increased since the last policy meeting, and the committee chose to "wait and watch."While inflation remains within...

New Delhi, April 8 Shares of oil marketing companies soared on Wednesday, with HPCL rising by 9%, as crude oil prices sharply declined to fall below the $100 mark following the announcement of a two-week ceasefire by the US and Iran.Brent crude, the global oil benchmark, dropped by 14.03% to $93.87 per barrel.The stock of Hindustan Petroleum Corporation Ltd (HPCL) jumped by 9% to Rs 361.35 on the BSE.The shares of Bharat Petroleum Corporation Ltd (BPCL) rose by 8.83% to Rs 301.90 and Indian Oil Corporation climbed by 8.21% to Rs 145.55.The stock markets also welcomed the announcement of the ceasefire. The 30-share BSE Sensex jumped by 2,988.82 points or 4% to 77,605.40 in late morning trading. The 50-share NSE Nifty surged by...

Mumbai, April 8 In an effort to promote ease of doing business, Reserve Bank Governor Sanjay Malhotra proposed on Wednesday to revise and rationalize guidelines to facilitate better utilization of bank board time, and draft directions in this regard would be released shortly.The matters to be placed before the Boards of banks, along with their periodicity, are determined by the Boards themselves, guided by the seven broad themes prescribed by the Reserve Bank of India.Meanwhile, the Reserve Bank has also mandated certain policies and matters to be placed before the Board for approval, review, or information."In an endeavor to enable Boards to utilize its time effectively, and to facilitate a more focused and qualitative engagement...

India Bond Yields Ease After US-Iran Ceasefire and RBI Rate Pause Mumbai, April 8: Indian government bond yields declined on Wednesday as market sentiment improved following a conditional ceasefire between the United States and Iran, alongside the Reserve Bank of India’s decision to hold key policy rates steady.10-Year Bond Yield Falls Below 7 Percent The yield on the benchmark 10-year government bond GS 2035 dropped to 6.92 percent in morning trade, compared to 7.04 percent earlier, according to data from the Clearing Corporation of India. The move marks a decline of around 0.12 percent, reflecting renewed buying interest in the debt market.Ceasefire Triggers Relief in Oil Prices Investor sentiment strengthened after the...

US Ambassador Sergio Gor Discusses India-US Future with President Trump Amid Diplomatic Activity Meeting Highlights Strategic Focus on Bilateral Relations Washington, April 8: US Ambassador to India Sergio Gor has said he discussed strengthening India-US relations with President Donald Trump during a dinner meeting on Tuesday, signalling continued diplomatic engagement between the two nations.According to Gor, the discussions focused on building a “strong future” for bilateral ties, alongside broader global developments. The meeting took place at a time when the United States and Iran have agreed to a two-week ceasefire after nearly six weeks of military conflict.In a post shared on X on Wednesday, Gor described the interaction as...

Mumbai, April 8 – Gold and silver prices rose sharply on Wednesday due to demand for safe-haven assets, even after US President Donald Trump announced a two-week ceasefire plan.On the Multi Commodity Exchange (MCX), gold futures (June 5) jumped as much as Rs 3,688 or 2.45 per cent, reaching a high of Rs 1,53,977 by 10:52 AM.The yellow metal was trading at Rs 1,53,920, up Rs 3,631 or 2.42 per cent. It touched a low of Rs 1,53,301, a gain of 2 per cent from the previous close.On the other hand, silver futures (May 5) climbed nearly 6 per cent or Rs 13,422, reaching a high of Rs 2,44,770.At the last count, the white metal was trading at Rs 2,44,297, up Rs 12,949 or 5.6 per cent. It recorded a low of Rs 2,40,601, up 4 per cent from...

New Delhi, April 8 Aviation stocks soared on Wednesday morning trading following a sharp decline in crude oil prices after the US and Iran announced a two-week ceasefire.The easing of geopolitical tensions led to a sharp drop in Brent crude oil prices, which fell by 13% to $94.94 per barrel.InterGlobe Aviation, the parent company of IndiGo, jumped by 10.98% to Rs 4,737.40 on the BSE.The SpiceJet stock also rose by 4.99% to reach its upper circuit limit of Rs 11.14.The stock markets also turned bullish following the ceasefire announcement. The 30-share BSE Sensex jumped by 2,839.53 points or 3.80% to 77,456.11 in the morning trading session. The 50-share NSE Nifty surged by 837.6 points or 3.62% to 23,961.25."The announcement...

New Delhi, April 8 – The Reserve Bank of India (RBI) on Wednesday estimated India's real GDP growth at 7.6 per cent for FY26 under a new GDP series, while highlighting emerging risks from geopolitical disruptions.The FY26 growth reflects resilience driven by strong services activity, manufacturing expansion, and robust domestic demand.For FY27, the Central Bank has projected growth at 6.9 per cent, indicating a moderation as external risks and cost pressures begin to build, said RBI Governor Sanjay Malhotra after the MPC meeting.The GDP growth for Q1 FY27 has been revised to 6.8 per cent from 6.9 percent, while Q2 FY27 growth has been lowered to 6.7 per cent from 7 per cent amid global headwinds due to the Iran war."Global...

EMIs Likely to Stay Stable as RBI Maintains Status Quo The Reserve Bank of India’s Monetary Policy Committee on Wednesday, April 8, has kept the repo rate unchanged at 5.25 percent, extending its pause after a series of rate cuts over the past year.For home loan borrowers, this decision signals continued stability. Since most home loans are linked to external benchmarks such as the repo rate, an unchanged policy rate indicates that equated monthly instalments are expected to remain steady in the near term. Banks are also likely to maintain current lending rates unless there are changes in liquidity conditions or a shift in the policy stance.Borrowers Continue to Benefit from Earlier Rate Cuts While the latest decision does not bring...

New Delhi, April 8 All-electric chauffeur cab service provider Trev Mobility announced on Wednesday that it has raised ₹3.65 crore in an angel funding round.The funds were raised from 11 angel investors, many of whom initially used the platform's services as customers.The capital will be used to expand its electric vehicle fleet and scale operations across the NCR region, including Delhi, Gurgaon, Noida, Faridabad, and Ghaziabad, the company said in a statement.Trev Mobility currently operates a fleet of 100 EVs across Delhi-NCR, comprising vehicles from BYD and MG Motor, and plans to expand this in the coming months, it added."Seeing our own customers invest in Trev is a powerful validation of the trust we've built and the...

Mumbai, April 8 The rupee appreciated by 50 paise to 92.56 against the US dollar in early trading on Wednesday, following US President Donald Trump's announcement of a two-week suspension of military strikes against Iran.Forex traders said the announcement of a two-week ceasefire triggered a wave of bargain buying among risk assets, as Asian stocks, Dow futures, gold, and silver all rallied, while Brent oil fell below $100 to $96 per barrel.The rupee surged to 92.56 levels, with the RBI deadline still in place until April 10 (regarding squaring of positions taken overnight up to $100 million), while the RBI will announce its monetary policy today at 10 am.At the interbank foreign exchange market, the rupee opened at 92.92 against...