CreditAccess Grameen Ltd. has secured a USD 100 million multi-currency syndicated social loan facility, marking a first for India’s microfinance sector. The ECB facility, comprising JPY and USD, was raised from banks in South Asia and the Far East. Standard…
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Finance Minister Nirmala Sitharaman urged regulators to expedite unclaimed deposit refunds and streamline KYC processes during the 29th FSDC meeting. The council emphasized macro-financial stability, cybersecurity resilience, and inter-regulatory coordination. Members also discussed implementing budget announcements, improving factoring services, and…
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U.S. Treasury Secretary Scott Bessent is being considered as a potential replacement for Federal Reserve Chair Jerome Powell, according to Bloomberg. Bessent joins a shortlist that includes former Fed official Kevin Warsh. While no formal interviews have begun, Donald Trump…
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The World Bank has revised India’s FY26 growth forecast downward to 6.3%, citing weaker exports and rising global trade barriers, although India remains a fast-growing economy. Despite this, the RBI maintains a 6.5% growth projection for FY26. Globally, growth is…
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Mumbai Police are investigating alleged financial irregularities at Lilavati Hospital trust. The Economic Offences Wing took over the probe. Current trustees reported irregularities of ₹1,300 crore. The Bandra police registered three FIRs in March. The FIRs name 17 people, including…
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Indian businessmen traveling abroad on tourist visas may face scrutiny from tax authorities. The Income Tax department taxed Hot Breads founder M. Mahadevan’s global income, deeming him a resident despite his NRI claim. The tax office rejected his argument about…
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