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The Economic Times
The Economic Times SBI to use IT, GST data for quick sanction of MSME loans
State Bank of India (SBI) has introduced SME Digital Business Loans, using data from income tax, GST returns, and bank statements for rapid credit assessment of MSMEs, enabling loan sanctions within ten seconds without human intervention. For loans up to Rs 50 lakhs, financial statements are waived in favor of transaction history and GST returns. This initiative aims to streamline MSME lending, reducing manual processes and enhancing efficiency.
The Economic Times Ola Electric secures Sebi nod for Rs 5,500-crore IPO
Ola Electric has received approval from Sebi for the first EV startup IPO in India. This would be among the biggest new-age IPO in India this year. Swiggy and FirstCry have also filed their draft IPO paper and awaiting regulatory clearance. The Bengaluru-based company is eyeing a $6-billion valuation through the public offering.
The Economic Times Modi 3.0: Key ministers' strategies for transformative changes in India Inc and the economy
ETCFO brings a curation of key ministries and ministers crucial for India Inc's future. From finance to commerce, and from MSME to Labour and Employment, explore their strategic roadmaps for the next five years.
The Economic Times India-EFTA Trade & Economic Agreement: A Win-Win Deal
India's landmark TEPA with EFTA, authored by Sanjay Chhabria, Senior Director, Indirect Tax at Nexdigm, outlines significant trade, investment, and economic growth opportunities, while highlighting key provisions and mutual benefits.
The Economic Times Fostering an Enabling Business Environment: Indian Businesses' Expectations from the New Government
India's economic transformation calls for streamlined regulations, stable tax reforms, and strategic privatization. Deepak Narayanan, Founder & CEO of Practus, outlines a roadmap to sustain growth and solidify global superpower status.
The Economic Times Modi 3.0: FMCG companies can cheer the new coalition government
In a symbolic move, Prime Minister Narendra Modi's first action after being sworn in for a third term was releasing the 17th PM-KISAN installment, providing financial relief to 9.3 crore farmers. With a weaker mandate, the government is expected to focus on rural welfare, potentially boosting FMCG sector growth and consumption.
The Economic Times Telcos likely to see modest revenue growth in June Qtr
Analysts expect a modest 2.5-3% sequential increase in revenue growth for the telecom sector in the June quarter. Despite higher data usage during the IPL cricket tournament and increased demand for international roaming packs during the summer holiday season, revenue growth is expected to be limited. This is due to many mobile users still paying lower 4G rates even after opting for 5G packs, and most subscribers having large amounts of unused data, reducing the need for costlier mobile broadband plans.
The Economic Times Companies cautious on short-term hiring, but overall outlook stays upbeat
Employers in India are showing caution in short-term hiring for the July-September quarter, with a net employment outlook of 30%, six percentage points lower than the current quarter and the same period last year. While 48% of employers plan to hire more people, 18% expect a decrease in hiring or have no plans to hire. The most optimistic sectors are finance and real estate, healthcare and life sciences, and IT, while communication services and transport, logistics, and automotive are less optimistic.
The Economic Times Modi govt releases Rs 1.4 lakh crore installment of tax devolution to states
The Ministry of Finance on Monday announced the release of an additional installment of tax devolution to states for June 2024. The objective of the move is to support state finances and spur economic development, it said.
The Economic Times SBI, other public sector banks suggest steps to boost deposits
Banks' deposit growth in FY24 was well below the rise in credit, forcing them to meet the funding gap through higher-cost Certificates of Deposit (CDs). Banks have made representations to senior government officials flagging the slowdown in deposits.
The Economic Times Sitharaman's budget next month to lay out economic roadmap of Modi 3.0
The economic agenda would include steps to fast-rack reforms to make India a USD 5-trillion economy in near future and turn the country into a 'Viksit Bharat' by 2047.
The Economic Times Modi's 'lower political capital' to hit implementation of tough reforms, says UBS
A Swiss brokerage stated that Prime Minister Narendra Modi's 'lower political capital' may hinder the new government's ability to implement tough reforms, potentially limiting the growth rate to around 7.5%. UBS Securities highlighted the importance of reforms related to land, farming, divestments, Uniform Civil Code, and one nation one election to boost growth to over 7.5% in the next five years.
The Economic Times From tax schemes to pension demands: Modi's new finance minister has their work cut out as challenges mount
A day after PM Narendra Modi and his new council of ministers were sworn in, speculation is high about the next finance minister. Questions are arising whether Nirmala Sitharaman will continue in her role in the finance ministry or take on a different ministry this term. Regardless of who takes the position, the responsibilities remain the same: boosting the economy and navigating challenges amid global uncertainties.
The Economic Times IndiGo promoter Bhatia family may sell 2% for $394 million
Bhatia Family selling 2% stake in IndiGo for ₹3,292.3 crore through a block deal. First stake sale post IPO. InterGlobe Enterprises selling shares. Lock-up period of 365 days post deal. IGE to invest in hospitality, launching Miiro hotels in Europe.
The Economic Times India may reduce rates before US Federal Reserve does
RBI Governor Shaktikanta Das on Friday said that the rate-setting panel will look at domestic conditions while taking rate cut decisions and will not be following the Fed. Other central banks are also diverging from the Fed, as the Bank of Canada and European Central Bank cut rates last week.
