Union Finance Minister Nirmala Sitharaman on Saturday said that the Rs 100 crore credit guarantee scheme for MSMEs which was announced in the budget this year will soon be placed before the Union Cabinet for approval.
Highlighting the five announcements made in this budget for MSMEs she said, "the introduction of a special credit guarantee corpus to help MSMEs will be very helpful during the time of distress...."
"The Rs 100 crore credit guarantee scheme will soon be placed before the cabinet. Immediately after getting approval from cabinet, the scheme that will provide guarantee through MSME ministry and banks will be implemented," the Union Finance Minister said, while attending the National MSME Cluster Outreach Programme here.
"The grievance, which has been there for a very long time, is that the MSMEs can get working capital from banks but they don't get term loans, loans for plant and machinery. Now the guarantee will be provided under the scheme," she explained.
Further stat

Nirmala Sitharaman, Nirmala

India's export of fuels like diesel to the European Union jumped 58 per cent in the first three quarters of 2024, with a bulk of them likely coming from refining discounted Russian oil, according to a monthly tracker report.
The EU/G7 countries in December 2022 introduced a price cap and an embargo on the imports of Russian crude oil in a bid to cripple Kremlin's revenue and create a vacuum in its funding for the invasion of Ukraine.
However, a lack of a policy on refined oil produced from Russian crude meant that countries not imposing sanctions could import large volumes of Russian crude, refine them into oil products and legally export them to the price-cap coalition countries.
India has become the second biggest buyer of Russian crude oil since the invasion, with purchases rising from less than one per cent of the total oil imported in the pre-Ukraine war period to almost 40 per cent of the country's total oil purchases.
The rise was primarily because Russian crude oil was ...

India imported crude oil worth $14.7 billion from Russia in the June quarter (Q1), according to government data. This was 25 per cent more than the same period last year, with higher availability and India's growing appetite for Russian crude vis-à-v

The exodus of foreign investments from Indian equity markets continued unabated, with FPIs pulling out nearly Rs 20,000 crore in the last five trading sessions on higher valuations of domestic stocks and shifting their allocation to China.
As a result, foreign portfolio investors (FPIs) have turned net sellers in the equity market, with total outflows reaching Rs 13,401 crore for 2024 so far.
Going ahead, the FPI selling trend is likely to continue in the near term till data indicate the possibility of a trend reversal. If the Q3 results and leading indicators reflect a recovery in earnings, the scenario can change with FPIs reducing selling and even turning buyers. Investors will have to wait and watch for the data, VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
With the newly elected US president not assuming office until January 2025, the Indian market's near-term direction will be more influenced by domestic factors like the Maharashtra assembly ..

FPI, Foreign portfolio investment

As per a Knight Frank-Business Standard report, 52 per cent of surveyed urban Indian homebuyers prefer apartments

Banking on Bricks BS-Knight Frank housing report launch

Caution ahead of the US Fed meet outcome weighs on currency

Rupee dollar

The rules apply to the National Capital Territory of Delhi, Punjab and Haryana, and the National Capital Region areas of Rajasthan and Uttar Pradesh

This has led to incidents of stubble burning, as the farmers burn the paddy residue to sow wheat. Unlike previous years, the number of stubble burning incidents has reduced considerably this year. From the onset of the stubble burning season (widely

More than 9,000 security personnel will be deployed on the polling day for  the by-elections to the seven assembly seats in Rajasthan, officials said.
"Strong law and order arrangements have been made for free, fair and transparent elections in all seven assembly constituencies of Ramgarh, Dausa, Jhunjhunu, Salumber, Chaurasi, Khinvsar and Deoli-Uniyara," Rajasthan Chief Election Officer Naveen Mahajan said.
Mahajan said strong security measures will be implemented in these areas on the polling day on November 13, for which over 9,000 security personnel, including 43 companies of central armed police forces (CAPF) and 17 companies of Rajasthan Armed Constabulary (RAC), will be deployed.
A total of 6,275 personnel of state police and 650 jawans of Home Guard are also being deployed, he added.
Mahajan said flying squads and static surveillance teams will be deployed in every assembly constituency for intensive checking and monitoring on the polling day.
Additional monitoring teams h

vote, election, voting, Voter, Jammu  Election

The National Green Tribunal has been informed that according to an Uttarakhand government's report on pollution in Ganga, even the "originating point" of the pious river is polluted by sewage treatment plant (STP) discharge.
The submission was made during the proceedings about the prevention and control of pollution in Ganga in Uttarakhand. The tribunal had earlier sought a report from the state and others.
A bench of NGT Chairperson Justice Prakash Shrivastava noted the submissions of the advocate of one of the intervening applicants, who referring to the state's report, pointed out that a faecal coliform having the most probable number (MPN) of 540/100 ml was found in the sample collected from the 1 million litres per day (MLD) capacity sewage treatment plant (STP) at Gangotri.
Faecal coliform (FC) levels show pollution from the microbes from the excreta of humans and animals. According to the Central Pollution Control Board (CPCB) water quality criteria, an MPN of less than 500/1

Jhelum river,bridge,river

A Junior Commissioned Officer (JCO) of the Army's special forces laid down his life on Sunday, while three more soldiers were injured in a gunfight with terrorists in a remote forest area in Jammu and Kashmir's Kishtwar district, officials said.
The operation comes amid an intensified hunt underway since the killing of two Village Defence Guards (VDGs) recently.
The Army identified the fallen hero as Naib Subedar Rakesh Kumar of 2 Para and saluted his supreme sacrifice.
The encounter broke out around 11 am when joint search parties of the Army and police intercepted the terrorists in the Keshwan forest, a few kilometres from the spot where the bullet-riddled bodies of VDGs Nazir Ahmad and Kuldeep Kumar were found.
A massive search operation was launched in the forests of Kuntwara and Keshwan on Thursday evening after the terrorists abducted and killed the VDGs.
The Army's Jammu-based White Knight Corps said in a post on X, "Based on specific intelligence input regarding the presen

Terrorist attack, Terrorism, Kathua Terrorist attack, Army, Indian Army

The rating agency's arm said that India's recent consumer price inflation at around 5 per cent was without clear evidence of a trend towards slowing price pressures

Most GCCs in India support critical business goals by using AI, data analytics, robotic process automation, and cloud services

India ranked third globally in terms of funding raised by fintech companies, behind the US and China, the report said

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Rajasthan bypolls: 9,000 security personnel to be deployed on polling day

Even 'originating point' of Ganga polluted by STP discharge: Govt to NGT

Army JCO killed, 3 soldiers injured in gunfight with terrorists in J-K

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Govt to decide soon on Rs 100 crore credit guarantee scheme for MSMEs: FM

Russian oil finds way to Europe; India now biggest exporter of fuel to EU

FPIs withdrew around Rs 20,000 cr from equities in last 5 trading sessions

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