Page 98 - Economy

State refiners cut dependence on Russian oil as private firms boost imports

During the last month, while the state-run refiners were cutting their reliance on Russian crude, private players were stepping up procurement

Lending cap on large corporations lifted as RBI scraps 2016 circular

RBI has withdrawn its 2016 system-wide cap on lending to large corporates citing reduced risks, while large exposure limits for individual banks will remain in force

India-EFTA agreement kicks in, Goyal says deal offers predictability

This is also India's first trade agreement with any European nation or bloc coming into effect

Banks get 4 years to spread provisions for ECL norms, MSME relief ahead

Moreover, the regulator proposed tweaking risk weights for loan to MSME and residential housing loans, which will release capital for banks

RBI unveils 22 measures to boost credit flow, ease home loan burden

Indian banks are now also allowed to fund acquisitions of non-financial entities and to finance land acquisition by special purpose vehicles, quelling a long standing demand of lenders

RBI maintains repo rate at 5.5%, keeps door open for December cut

The central bank has lowered its inflation projection for FY26 to 2.6 per cent from 3.1 per cent, and for the first quarter of the next financial year to 4.5 per cent from 4.9 per cent

RBI unveils three measures to boost rupee internationalisation, expand SRVA

RBI announced lending in rupees to neighbours, transparent reference rates, and expanded SRVA use in corporate bonds and commercial papers to advance rupee internationalisation

GST revenues up 5% in September to ₹1.6 trillion as refunds surge 40%

Net GST collections had risen 10.7 per cent in August, aided by a 20 per cent decline in refunds during the month

Centre releases additional ₹1.01 trn tax devolution to state governments

Currently, 41 per cent of taxes collected by the Centre is devolved in instalments among states during a fiscal year

RBI extends MTT payment timeline to six months, eases compliance rules

RBI extended the merchanting trade payment timeline to six months from four and simplified reconciliation rules for small exporters and importers to ease compliance burden

₹2000 notes worth ₹5,884 crore remain in circulation: RBI report

From October 9, 2023, RBI issue offices are also accepting ₹2000 banknotes from individuals/entities for deposit into their bank accounts

Cabinet okays ₹6,957-cr NH upgrade with wildlife corridor at Kaziranga

The Cabinet approved a Rs 6,957-cr NH-715 project with a 34.5-km elevated corridor and bypasses to protect Kaziranga wildlife and improve connectivity in Assam

Consumer confidence up marginally, inflation seen easing ahead: RBI survey

RBI surveys indicate consumer confidence improved in September 2025 in both urban and rural areas, with inflation expectations softening and manufacturers retaining optimism

Cabinet approves Phase-III of Biomedical Research Career Programme

The BRCP was launched in 2008-09 for biomedical research at the world class standards. Subsequently, phase II was implemented in 2018/19 with an expanded portfolio

Indian Railways freight volume rises 4% in September, coal demand steady

Indian Railways' freight volume reached 127.5 MT in September 2025, with overall growth led by fertiliser, iron ore, and steel products, even as coal demand remained subdued

September GST collection increases to ₹1.89 trillion vs ₹1.86 trn in August

GST mop-up in September 2024 stood at ₹1.73 trillion, while collections in August 2025 were at ₹1.86 trillion

Stable repo rates expected to boost commercial realty developments

Predictable borrowing costs and GST reforms are expected to boost commercial real estate, housing demand and investor sentiment during the festive season across India

Cabinet approves ₹11,440 cr mission to make India self-sufficient in pulses

Under the mission, the government has set a target to increase pulses production to 350 lakh tonnes by 2030-32 from 242 lakh tonnes achieved in 2023-24, according to an official statement

Cabinet approves 3% DA hike for government employees ahead of Diwali

The Cabinet approved 3 per cent DA hike from 55 per cent to 58 per cent, benefiting 4.92 million government employees and 6.87 million pensioners, starting July 1, 2025

Govt invites bids for coal gasification projects under ₹8,500-cr scheme

The coal ministry has launched the second round of financial incentives, offering Rs 2,366 crore to support coal and lignite gasification projects and promote cleaner coal use