Page 51 - Finance News

PM Vishwakarma Scheme: PSBs disbursed loan in 1 of 4 applications till Aug

The scheme - launched in 2023 on the birthday of PM Modi to provide financial support and skill development to artisans in informal sector - has received 1.2 mn applications by PSBs till August 2025

GST cut to save discoms ₹3,000 crore annually on power costs: MNRE

MNRE said reducing GST on renewable devices to 5% from 12% will save discoms Rs 2,000-3,000 crore annually, lower solar project costs and boost clean energy investment

Central govt notifies CGST rates for goods effective September 22

States will now have to follow suit and notify the State GST (SGST) rates to be levied on goods and services beginning Monday

Fintech firm Razorpay integrates Apple Pay to support foreign transactions

Razorpay has integrated Apple Pay for cross-border transactions, enabling Indian merchants to tap global users with faster checkout and higher conversion rates

Financial inclusion drive opens 6.1 million Jan Dhan accounts in 2.5 months

The Finance Ministry said its three-month financial inclusion drive has opened 6.1 million Jan Dhan accounts, 26 million social security enrolments and updated crores of inactive accounts

Securitisation volumes to dip in Q2 as investors shun unsecured loans

Securitisation activity is likely to stay subdued in Q2FY26, with volumes at Rs 63,000 crore as investors turn cautious on unsecured and microfinance loan pools

CSC e-Governance Services crosses ₹3,000 crore loan disbursal mark

"The programme has shown rapid growth, with disbursals of Rs 86 crore in FY 2023-24, Rs 1,631 crore in FY 2024-25, and Rs 1,300 crore till August 2025 in FY 2025-26," it said

Corporate credit growth to revive in H2 FY26, says Crisil Ratings

Crisil Ratings expects bank credit growth to accelerate in H2 FY26 to 11-12%, driven by retail loans and NBFCs, with corporate credit growth rebounding to 9.7%

Muthoot Finance raises $600 mn via ECB, completes $2 bn GMTN target

Muthoot Finance has raised $600 million via ECB, marking the final tranche under its $2 billion GMTN programme, with funds earmarked for lending expansion across India

Firstsource Solutions appoints Kumaran Shanmuhan as Chief Strategy Officer

The appointment is a step in advancing Firstsource's 'UnBPO vision', which the company described as transformative reimagining of outsourcing driven by expertise and technology

UCO Bank gets govt approval to facilitate trade payments for Nayara Energy

Rosneft owns just over 49% of Nayara, which accounts for nearly 8% of India's refining capacity and 7% of its retail-fuel network

Crisil pegs FY26 bank credit growth at 12%, flags MSME loan stress

Retail credit will drive growth in loan books for banks in FY26, and corporate loans growth will be slower in the fiscal year, the agency said

NPCI proposes UPI-based cash withdrawals with ₹10,000 cap at BC outlets

NPCI has sought RBI approval to enable UPI-based cash withdrawals of up to ₹10,000 at business correspondent outlets, expanding beyond ATMs and select merchants

Banks step up focus on fee-based income; treasury gains come under pressure

Further, bankers said that there is still room to reduce rates on term deposits, and bulk deposit rates have already declined

Fintechs offer secured lending with instant loans against mutual funds

Fintechs including PhonePe, Paytm, BharatPe, and Cred roll out loans against mutual funds, offering instant, fully digital secured credit at lower capital costs for investors

Insurance Amendment Bill likely in Winter session, says FM Sitharaman

The finance minister, in this year's Budget speech, proposed to raise the foreign investment limit to 100 per cent from the existing 74 per cent in the insurance sector

PSBs must emerge as global champions in Viksit Bharat 2047 vision: DFS Secy

The two-day programme, organised by DFS, brought together top policymakers, regulators, technologists and banking practitioners

India home prices to soar in 2025 as affordable housing deficit grows

Home prices in India are forecast to rise faster in 2025, driven by wealthy buyers, while a shortage of affordable homes pushes millions into costly rentals, a Reuters poll showed

Corporate bond primary market shows revival after two-month slowdown

Corporate bond issuances pick up as market stabilises; big players like Aditya Birla Capital, Bajaj Finance, and Tata Capital tap debt amid strong liquidity and easing yield worries

Call for paring govt stake in public sector banks, greater board autonomy

The discussion also touched upon the objective of ensuring that at least two public sector banks feature among the world's top 20 banks