Page 32 - Industry News

Over ₹52,300 crore MSME loans sanctioned by PSBs under digital credit model

Public sector banks under the digital credit underwriting programmes sanctioned over 3.96 lakh MSME loan applications amounting to over Rs 52,300 crore between April 1 and December 31, 2025, the finance ministry said on Monday. The Public Sector Banks (PSBs) had launched the Credit Assessment Model (CAM) based on digital footprints for Micro, Small & Medium Enterprises (MSMEs) in 2025. This credit assessment model leverages the digitally fetched and verifiable data available in the ecosystem and devises automated journeys for MSME Loan appraisal using objective decisioning for all loan applications and model-based limit assessment for both Existing to Bank (ETB) as well as New to Bank (NTB) MSME borrowers, a finance ministry statement said. "Between 1st April and 31st December, 2025, over 3.96 lakh MSME loan applications amounting to more than Rs 52,300 crore have been sanctioned by the Public Sector Banks (PSBs) under the digital credit underwriting programmes," the ministry said

Budget 2026-27: Fertiliser industry seeks duty cuts, subsidy reforms

The Fertiliser Association of India has suggested rationalisation of customs duties on key raw materials, incentives for downstream projects, and bringing urea under the nutrient-based subsidy framework in Union Budget 2026-27. The FAI has demanded exemption or reduction of basic customs duty on inputs such as ammonia, phosphoric acid, sulphuric acid, rock phosphate and sulphur. It has also sought relief from Agriculture Infrastructure and Development Cess, and resolution of issues arising from inverted GST duty structures leading to accumulation of unutilised input tax credit. On the direct tax front, the industry has recommended restoration of weighted deductions for R&D and farmer education, incentives for downstream fertiliser projects, accelerated depreciation for energy-efficient equipment, and easing of compliance and litigation burdens. The FAI has emphasised the need to promote balanced fertilisation to protect soil health, noting that disparities between urea and P&K

India's Russian crude oil buys may average 1.2 mbpd amid sanctions: Kpler

India is diversifying its crude slate by stepping up purchases from traditional suppliers such as Iraq and Saudi Arabia

New Labour Codes push up operating costs for private banks, insurers

Private sector banks and insurers report higher employee costs in Q3FY26 after accounting for statutory impact of New Labour Codes notified by the Centre in November 2025

Industry confidence hits five-quarter high in Oct-Dec period: CII survey

Industry confidence rose to a five-quarter high in the December quarter of FY26, supported by steady domestic demand

India needs fertiliser pricing reforms to restore soil health: Paper

ICRIER paper calls for rational fertiliser pricing, targeted support and site-specific solutions to restore soil health, improve crop nutrition and address India's persistent malnutrition challenge

Government and NPCI's Role Key to Global UPI Growth, Says Pay10 Founder

To expand UPI globally, the government and NPCI must create stronger merchant use cases and ensure faster settlement cycles, especially for small overseas businesses, Pay10 founder said

Coal mining resumes at CCL's Rajhara colliery in Jharkhand after 16 years

Union minister Satish Chandra Dubey on Saturday inaugurated the resumption of coal mining operations at Rajhara Colliery of Central Coalfields Limited (CCL) in Jharkhand's Palamu district. Coal mining operations had been closed at the site since 2010. Dubey said, "India is progressing significantly in the coal sector. The CCL project holds great importance for the region. The resumption of operations will not only generate employment but also contribute to the overall development of the area." He said that this would also help curb migration from the region. There has been a long-standing demand to restart the Rajhara coal mine, and the government has accorded it high priority, the minister said. He further said that mining at Rajhara Colliery had been halted since 2010 due to unavoidable reasons. BJP MP from Palamu said that efforts had been made at multiple levels to restart the mine and that success had finally been achieved. The Rajhara Colliery area holds 4.5 million tonnes

EDME Insurance eyes overseas expansion, targets ₹1,600 cr business

EDME Insurance Brokers, formerly Aditya Birla Insurance Brokers Ltd, is eyeing an overseas expansion and aims to double its business to Rs 1,600 crore over the next five years. "We would also like to spread our wings outside India, namely to Dubai, Singapore and London as well. We feel that, in the next one year or so, we will set up offices in both Singapore and Dubai. So, London might come later," EDME Insurance Brokers Chief Executive Officer Sanjay Radhakrishnan told PTI. Talking about the acquisition of UIB Insurance Brokers (India) Pvt Ltd, he said that with the buy, business has increased to about Rs 850 crore. With the deal, he said, EDME Insurance Brokers has become the second largest in the country after Marsh. For the rapid growth, he said, "We have identified around 14-18 industries that we want to focus on. For example, IT and BFSI, construction, infrastructure, and power. We are also looking at sports, media, and entertainment. Additionally, we are looking at mergers

'India's electronics sector moving towards strategic indispensability'

An MNC presentation weighs India's position while pointing out that the world is 'now dependent' on Chinese supply chain

Jio Financial Services reports 9% drop in Q3 profit at ₹269 crore

Jio Financial Services Ltd on Thursday reported a 9 per cent drop in consolidated profit at Rs 269 crore for the third quarter ended December 31, 2025. The company had earned a consolidated net profit of Rs 295 crore in the same quarter of the previous fiscal, Jio Financial Services said in a regulatory filing. However, the company's consolidated net profit stood at Rs 695 crore in the second quarter of the current fiscal. Total income nearly doubled to Rs 901 crore, from Rs 449 crore in the third quarter of the previous fiscal. Total expenses also witnessed a significant year-on-year increase, rising to Rs 566 crore from Rs 131 crore in the same quarter a year ago. During the quarter, pre-provisioning operating profit grew by 7 per cent to Rs 354 crore. Growth in total income was partially offset by higher expenses, in line with volume growth across all businesses, it said. For the nine months ended December, the company's net profit also declined marginally to Rs 1,289 crore,

Budget 2026: Here are key challenges in electronics & semiconductor sector

Electronics & SemicIndia's electronics and semiconductor ambitions face hurdles such as high capital costs, talent gaps and weak value-chain presence

Higher expenses drag Angel One Q3 profit down 4.5% to ₹269 crore

Angel One on Thursday reported a 4.5 per cent year-on-year decline in consolidated profit after tax (PAT) to Rs 269 crore in the December quarter as rising operating expenses weighed on margins. The company had posted a PAT of Rs 281.5 crore in the corresponding year-ago quarter. However, the broking firm registered a 5.8 per cent increase in total income to Rs 1,338 crore from Rs 1,264 crore in Q3 FY25, driven by an improvement in interest income and fees and commission income, according to a regulatory filing. Total expenses increased to Rs 964.2 crore from Rs 876.5 crore, driven primarily by higher employee benefit costs, employee stock ownership plan (ESOP) expenses and other operating expenses. The company's board has approved a stock split in the ratio of 1:10, whereby each equity share with a face value of Rs 10 will be subdivided into 10 equity shares of Rs 1 each.

Results preview: Alcobev industry growth may have cooled in Q3FY26

JM Financial estimates revenue growth of the industry at about 6.2 per cent year-on-year (y-o-y) in the quarter, a sharp decline from the strong momentum seen over the past year

Telcos push I&B ministry for fresh D2M tech assessment: What they want

Indian telcos have urged the I&B Ministry to restart the technical evaluation of direct-to-mobile technology, calling for broader standards-setting and consultation involving all stakeholders

India's manufacturing renaissance: Building a new industrial architecture

The architecture of a new industrial era is being shaped by sustained political leadership and long-term institutional thinking

DGCA shares airline-wise data with CCI for IndiGo's investigation

Data regarding routes exclusively operated by Indigo between September and December 2025 is also being shared by the DGCA with the Commission

Pilots' body FIP serves legal notice to AAIB over Ahmedabad crash probe

Pilots' body FIP has served a legal notice to the Aircraft Accident Investigation Bureau (AAIB) regarding the summoning of a nephew of Sumeet Sabharwal, one of the pilots who died in an Air India plane crash at Ahmedabad in June last year. In connection with its probe into the crash, AAIB has summoned Captain Varun Anand, nephew of the late Sabharwal and a narrow-body aircraft pilot with Air India. Anand is also a member of the Federation of Indian Pilots (FIP). Sabharwal was one of the pilots who operated the ill-fated Boeing 787-8 plane that crashed into a medical hostel complex on June 12, 2025, soon after take-off from Ahmedabad for London Gatwick. As many as 260 people, including 241 on board the plane, were killed in the AI171 crash. "Captain Varun Anand is neither a factual witness nor a technical witness nor an expert witness in relation to the said accident. The sole basis for calling Captain Varun Anand appears to be his familial relationship with the deceased ...

Centre to soon frame rules to integrate MGNREGA workers into VB-G RAM G

States will get a six-month transition window to notify and align with the new scheme once the Act is formally notified by the Centre

Coal ministry signs development agreements with DVC for three blocks

The three projects are expected to create around 66,248 direct and indirect employment opportunities, fostering livelihood generation and regional development in the coal-bearing areas