India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Chennai: After facing widespread criticism over the mandatory CIBIL verification for crop loans, the Tamil Nadu Cooperative Department has introduced another controversial requirement for farmers seeking credit through Primary Agricultural Cooperative Societies (PACS). According to a recent directive, farmers must now obtain a No Objection Certificate (NOC) from a nationalised bank to be eligible for loans under the cooperative system. The new instruction, issued through a departmental circular, mandates that farmers secure a NOC from the branch manager of a nationalised bank located in their area or where they maintain an account. This directive comes in the wake of an earlier order dated May 26, which required all crop loans disbursed through Kisan Credit Cards to undergo CIBIL score verification. That move had already triggered sharp backlash from various farmer associations across the state. Esan Murugasamy, founder of the Tamilaga Vivasayigal Pathukappu Sangam, strongly criticised the department's decision, claiming it was yet another tactic to discourage farmers from approaching PACS. "Whether it is a CIBIL score, a CIBIL report, or now a NOC, the burden on farmers is the same. These measures are driving them into the clutches of commercial banks and increasing their debt risk," he said. Farmer groups argue that cooperative loans were originally designed to provide easy, affordable credit to small and marginal farmers, and these additional requirements defeat that purpose. They fear that the mounting bureaucratic hurdles will erode trust in PACS and force more farmers to turn to commercial lending institutions with higher interest rates and stricter repayment terms. However, senior officials in the Cooperative Department maintain that the process is being misrepresented and claim that it is simple and straightforward. "A standard format letter will be given by the PACS. The farmer only needs to get it signed and sealed by a manager of a nationalised bank. This is just to ensure there are no overlapping loans," an official explained. Despite the assurance, farmer organisations remain firm in their demand that such additional compliance steps be scrapped altogether. They argue that these measures are impractical for rural farmers and undermine the very purpose of cooperative credit. As discontent grows, farmer unions are planning to intensify their protests, urging the state government to withdraw the latest directive and restore easy access to cooperative loans without unnecessary hurdles.
New Delhi, May 28 (SocialNews.XYZ) The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the continuation of the interest subvention component under the modified interest subvention scheme (MISS) for loans to farmers during the financial year 2025-26, and approved the required fund arrangements, according to an official statement issued after the meeting. MISS is a Central sector scheme aimed at ensuring the availability of short-term credit to farmers at an affordable interest rate through Kisan credit cards (KCC). Under the scheme, farmers receive short-term loa ...Read More >
New Delhi, Jul 4 (PTI) The Centre has notified the Unified Waqf Management, Empowerment, Efficiency and Development Rules, 2025 that deal with issues such as the portal and database of Waqf properties, the manner of their registration, conduct of audit and maintenance of accounts. The rules were notified on Thursday in exercise of powers under Section 108B of the 1995 Act, which was inserted through the Waqf (Amendment) Act 2025, which came into effect from April 8, 2025. Also Read | 'Seeking Clarity Is Not Misinformation': CM Siddaramaiah Responds to Biocon Chief Kiran Mazumdar Shaw on COVI ...Read More >
Bengaluru: Union Minister for Road Transport and Highways Nitin Gadkari on Monday inaugurated the cable-stayed bridge constructed across Sharavati backwaters in Sagar taluka district in Karnataka amid boycott by the state government. Built at a cost of Rs 472 crore, the 2.44 km bridge, the second longest in the country, will improve connectivity to several villages in Sagar and Hosanagara taluks besides reducing the travel time to popular temples like Siganduru Chowdeshwari and Kollur Mookambika from Sagar by two hours. Till now, people had to rely on barges to cross the river. The bridge wa ...Read More >
Dantewada (Chhattisgarh) [India] July 15 (ANI): The tribal-dominated Dantewada district is all set to make its footprint visible in the high-octane sport of Thai Kick Boxing, as young athletes here have clinched medals in international as well as national events. With the support of the Chhattisgarh Government, the youth of Dantewada are sharpening their skills and preparing for Thai Kick Boxing events to be held in the country and overseas. As Dantewada moves on the path to becoming a hub for producing Thai Kick Boxers, the district is also ready to shed its infamous identity that emerged du ...Read More >
EXCLUSIVE TV newsman Seb Costello has been spotted with a colourful Married At First Sight personality just hours after being accused of assaulting an inner-city loan manager. Nine is formally reviewing allegations the A Current Affair star attacked the finance executive during a wild on-camera chase that ended in a women's lavatory this week, but has already indicated he retains the network's full support. It comes as private lending firm Oak Capital launched legal proceedings in the Supreme Court of Victoria on Thursday and effectively had all vision of the incident suppressed. Although ...Read More >
New Delhi [India], May 28 (ANI): The Union Cabinet on Wednesday approved the continuation of the interest subvention component under the Modified Interest Subvention Scheme (MISS) for farmers for the financial year 2025-26, and approved required fund arrangements. It is a Central Sector Scheme aimed at ensuring the availability of short-term credit to farmers at an affordable interest rate through Kisan Credit card (KCC). Also Read | Parcel Bomb Case: Odisha Court Convicts Accused Punjilal Meher, Sentences Him to Life Imprisonment. Under the Scheme: Farmers received short-term loans of up t ...Read More >
New Delhi: Central and state governments collected ₹1.85 trillion in Goods and Services Tax (GST) revenue in June, reporting a 6.2% annual improvement, although the revenue receipt was the lowest in four months. The moderation from the more than ₹2 trillion-level seen in the first two months of the current financial year comes on account of a sharp reduction in tax collection from domestic transactions. GST on imported items also witnessed some moderation in June. However, cumulatively, in the first quarter, Central and state governments collected ₹6.2 trillion before tax refunds, an improve ...Read More >
Hyderabad: Chief Minister A. Revanth Reddy has raised serious concerns over the increasing financial burden on the state government due to the high interest rates on loans inherited from the previous BRS administration. In a meeting with Prof. S. Mahendra Dev, chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), the CM spoke of the difficulty in loan repayment which, he said, was significantly hindering the state's development. The Chief Minister requested the Centre's cooperation in reducing the burden of these high interest rates and rescheduling of the loans, as the re ...Read More >
Srinagar- Congress MP Shashi Tharoor on Saturday said foreign countries were told clearly during the post-Operation Sindoor diplomatic outreach that in case of a fresh provocation, India would repeat its action. Speaking at a discussion at the Ahmedabad Management Association, Tharoor said Indian delegations which visited foreign countries in the aftermath of Operation Sindoor managed to convey that India acted with restraint and responsibility. "In other places, we actually were able to get some very high-placed people to say not only that they respected and supported India's right of self- ...Read More >
Telangana pharma plant fire: Company says 40 killed, announces Rs 1-crore ex-gratia Sigachi Industries Ltd had been using outdated machinery and workers were compelled to operate it, the FIR registered against the management stated. The Sangareddy police, based on a complaint by a family member of one of the victims, on Monday registered an FIR against the factory management in connection with the explosion Sigachi Industries Ltd on Wednesday said it had lost 40 of its team members in the recent explosion and fire at its Pashamylaram plant in Sangareddy district. The company also announced a ...Read More >
Bilaspur (Himachal Pradesh) [India], July 5 (ANI): The BJP national president and Union Minister JP Nadda on Saturday came down heavily on the Himachal Pradesh government, calling the current state of administration 'an all-time low,' while terming the recent incident involving Shimla (Rural) MLA Anirudh Singh and NHAI officials as 'unfortunate'. 'When the protector himself becomes the predator, how will the administration function. I am worried and hurt the way things are happening in Himachal Pradesh,' said the BJP national chief while addressing the Media in Bilaspur on Saturday. Addressi ...Read More >
SRINAGAR: A defiant Jammu and Kashmir Chief Minister Omar Abdullah on Monday scaled the gates of the Naqshband Sahib graveyard to pay tributes to the 22 people killed by the Dogra army on July 13, 1931. The dramatic scene unfolded a day after Abdullah and several leaders of the National Conference and opposition parties were put under house arrest to prevent them from going to the graveyard to mark Martyrs' Day. National Conference president Farooq Abdullah took an autorickshaw from the Khanyar crossing to the martyrs memorial while Minister for Education Sakina Ittoo surprised everyone by r ...Read More >
NEW DELHI: Former head of Air India and chairman of the Railway Board Ashwani Lohani is the new Prime Ministers Museum and Library (PMML) director. The official order for his appointment was issued on Wednesday. A 1980-batch officer of the Indian Railway Service of Mechanical Engineering (IRSME), Lohani is known for turning around various organisations during his illustrious career. Following his retirement from IRSME service, he joined the GMR Group as the CEO. According to the order dated June 4, his appointment to the post of director, Prime Ministers Museum and Library in the rank and pa ...Read More >
Mumbai, June 6: RBI Governor Sanjay Malhotra on Friday announced a jumbo 50 basis points cut in the repo rate from 6 per cent to 5.5 per cent to spur growth in the economy, as inflation has come down below the lower RBI band of 4 per cent. The RBI Governor also announced a 100 basis points CRR cut, effective in four equal tranches of 25 basis points starting from September 6, October 4, November 1 and November 29. The step is expected to inject Rs 2.5 lakh crore into the banking system, boosting liquidity and supporting credit flow. A lower policy rate leads to a decline in interest rate on b ...Read More >
MUMBAI, India -- India's central bank cut interest rates more than expected on Friday. For this, the Reserve Bank of India (RBI) cited muted inflation and a need to kickstart economic growth. This happened as the impact of US tariffs weighed on the country's outlook. The RBI lowered the benchmark repo rate, the level at which it lends to commercial banks. This went down by 50 basis points to 5.5 percent. A majority of analysts had expected a 25-basis-point reduction. The cut was RBI's third in a row. This comes a week after government data showed India's economy expanded at its slowest pace ...Read More >
New Delhi [India], July 9 (ANI): Indian banks witnessed significant gains in market capitalisation during the April-June quarter of 2025, driven by falling interest rates and increased liquidity, which collectively attracted investor confidence. According to S&P Global Market Intelligence data, 18 of the top 20 Indian lenders, including the nation's three largest, saw their market cap rise.HDFC Bank Ltd., India's largest bank by market cap, registered a strong 9.70 per cent increase in its market capitalisation. Its private sector counterpart, ICICI Bank Ltd., also posted a healthy gain of 7.4 ...Read More >
Hyderabad: Efforts of ACB officials to weed out corrupt officials are being affected by bureaucratic delays, in some cases influenced by the accused officials, resulting in delayed prosecution and justice. The conviction rate in the cases involving bribery and disproportionate assets, registered by the Anti-Corruption Bureau (ACB), is low because of the delayed clearances from the vigilance and enforcement for prosecution, and the department concerned. Director-general Vijay Kumar said the ACB had registered 152 cases and arrested 223 accused in 2024. Of these, 129 were trap cases involving ...Read More >
Thiruvananthapuram: Ravada A Chandrasekhar took charge as the new State Police Chief on Tuesday. He succeeds Shaik Darvesh Saheb, who retired on June 30. His tenure will run until July 1, 2027. A 1991-batch IPS officer currently serving as Special Director with the Intelligence Bureau, Chandrasekhar is on central deputation. He was selected over Nitin Agarwal, who topped the official list of probables. The appointment order, issued by Kerala Chief Secretary Dr A Jayathilak on behalf of the Governor, was released soon after a cabinet meeting held on Monday. Hailing from Andhra Pradesh's Godav ...Read More >
Gandhinagar (Gujarat) [India], July 6(ANI): On the occasion of the fourth foundation day of the Ministry of Cooperation, Government of India, a grand Sakhkar Samelan was organized in Anand, known as the Milk Capital of India, in the presence of Union Home and Cooperation Minister Amit Shah and Chief Minister Bhupendra Patel. Inaugurating various development works of the world-renowned Amul Dairy, Shah called for expanding the cooperative movement nationwide based on the five Ps - People, PACS, Platform, Policy, and Prosperity, said a release from the Gujarat CMO. Shah stated that the converg ...Read More >
Bengaluru: Responding to objections raised by Karnataka Chief Minister Siddaramaiah over his request to reschedule the inauguration of the Sigandur cable bridge project, allegedly being neglected by the Union Government, the Centre has clarified that the Chief Minister was invited to the event on June 11 and was also requested to preside over the programme. Union Minister for Road Transport and Highways, Nitin Gadkari, taking to social media platform X, on Monday, stated, "A major step towards boosting regional connectivity, the inauguration and foundation stone laying ceremony for multiple k ...Read More >
Bengaluru: The Karnataka government on Thursday took strong action against the police officers allegedly responsible for the Bengaluru stampede, suspending several high-ranking officials, including the city's police commissioner. Addressing a press conference, Chief Minister Siddaramaiah also announced a one-man commission to probe the lapses that triggered the deadly stampede. "Cubbon Park Police Station police inspector, station house master, station house officer, ACP, Central Division DCP, cricket stadium in-charge, additional commissioner of police, commissioner of police have been susp ...Read More >
Pune: Hospitals in Pune have started reporting an increase in dengue cases among children following recent heavy rainfall and intermittent showers. Conditions are now ripe for mosquito breeding, experts said, as they warned citizens to ensure there's no waterlogging or stagnant pools near homes and offices. "Dengue is typically seen first in children as they often play outside," said Dr Sagar Lad, a senior neonatologist and pediatric intensivist at Jehangir Hospital and Sahyadri Hospital, Shastrinagar. Dr Lad said he's seen at least three children admitted for dengue this week, with all of the ...Read More >
Srinagar, Jul 3 (PTI) The annual Amarnath Yatra began on Thursday with the first batches of pilgrims setting off from the twin base camps in Baltal and Nunwan towards the 3880-metre-high cave shrine in the south Kashmir Himalayas, which houses a naturally formed ice-lingam, officials said. The yatra started early morning from the twin tracks -- the traditional 48-km Nunwan-Pahalgam route and the 14-km Baltal route. The batches of pilgrims, including men, women and sadhus, left from the Nunwan base camp in Pahalgam, in south Kashmir's Anantnag, and Baltal base camp in Sonamarg area of central ...Read More >
New Delhi, Jul 4 (PTI) The Centre has notified the Unified Waqf Management, Empowerment, Efficiency and Development Rules, 2025 that deal with issues such as the portal and database of Waqf properties, the manner of their registration, conduct of audit and maintenance of accounts. The rules were notified on Thursday in exercise of powers under Section 108B of the 1995 Act, which was inserted through the Waqf (Amendment) Act 2025, which came into effect from April 8, 2025. Also Read | Centre Notifies Waqf Management Rules 2025; Portal, Database, Audit of Waqf Properties. According to the rul ...Read More >
Gandhinagar (Gujarat) [India], July 6(ANI): On the occasion of the fourth foundation day of the Ministry of Cooperation, Government of India, a grand Sakhkar Samelan was organized in Anand, known as the Milk Capital of India, in the presence of Union Home and Cooperation Minister Amit Shah and Chief Minister Bhupendra Patel. Inaugurating various development works of the world-renowned Amul Dairy, Shah called for expanding the cooperative movement nationwide based on the five Ps - People, PACS, Platform, Policy, and Prosperity, said a release from the Gujarat CMO. Also Read | Bihar Assembly E ...Read More >
Shimla, Jul 7 (PTI) After the Congress accused Kangana of ignoring her constituency, Lok Sabha MP from Mandi, Kangana Ranaut, on Monday hit out and said that they have failed the people of Himachal Pradesh. Ranaut visited the disaster-hit Pangloor village of Sainj panchayat in the Gohar area of Nachan assembly segment in Mandi district, where nine members of two families were washed away. Also Read | Bodoland Lottery Result Today, July 07, 2025: Assam State Lottery Sambad Monday Lucky Draw Results Declared, Check Winners List With Ticket Numbers. She said people across the state were unhapp ...Read More >
Srinagar, July 09: Chief Minister Omar Abdullah on Wednesday said that Jammu & Kashmir's tourism sector is witnessing a strong revival, with a steady rise in the number of tourists visiting the Union Territory each day.Abdullah, while addressing reporters in West Bengal ahead of the Kolkata Tourism Fair, said, "Tourists are coming back to Kashmir in good numbers. The ongoingAmarnathYatra is proceeding smoothly with heavy footfall on both the Pahalgam and Baltal routes, he said."I spoke to several pilgrims, and they are all happy and satisfied with the arrangements. I have come to Kolkata to ta ...Read More >
Karnataka CM Siddaramaiah NEW DELHI: Karnataka chief minister Siddaramaiah has asked Union Minister for Road Transport and Highways Nitin Gadkari to postpone the inauguration of key infrastructure projects in Shivamogga, saying he was not consulted or officially informed about the July 14 event, despite his name appearing on the draft invitation. In response, Gadkari said the chief minister had been duly invited on July 11, and a follow-up letter was sent offering the option to join virtually.In a letter, Siddaramaiah said he was neither consulted nor officially informed about the event, despi ...Read More >
Mumbai, June 6 (SocialNews.XYZ) RBI Governor Sanjay Malhotra on Friday announced a jumbo 50 basis points cut in the repo rate from 6 per cent to 5.5 per cent to spur growth in the economy, as inflation has come down below the lower RBI band of 4 per cent. A lower policy rate leads to a decline in interest rate on bank loans which makes borrowing easier for consumers as well as businesses resulting in higher consumption and investments in the economy leading to higher growth. However, the effectiveness of this rate cut will largely hinge on how quickly and efficiently commercial banks pass on ...Read More >
Pune (Maharashtra) [India], June 6: Bajaj Markets simplifies access to personal loans from multiple financial partners, and facilitates the funding for diverse needs, including travel, wedding expenditures, and medical emergencies. Users can easily compare vital loan specifics like interest rates, available loan amounts, and repayment tenures, and select those that align with their specific requirements and preferences. Also Read | Arietids Meteor Shower 2025 Peaks on June 7: Why Is It Known As the Most Active Daytime Meteor Shower? How To Watch the Shooting Stars and Other Important Details ...Read More >