Economy News ( English version)

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  • Credit guarantee scheme for MFI 2.0 gets extension June 10, 2026
    The Credit Guarantee Scheme for Microfinance Institutions-2.0 has been extended. This extension will last until August or until guarantees worth ₹20,000 crore are issued. The maximum loan amount for large NBFC-MFIs and MFIs has been raised to ₹1,000 crore. This aims to boost credit flow to the microfinance sector. Loans totaling ₹770 crore have been sanction […]
  • No overcapacity in steel, textiles; India's consumption remains low: DGTR June 10, 2026
    India has rejected US claims of excess capacity in its textile and steel sectors. Officials state per capita consumption of these products is very low. India is a net importer of manmade fibres. Trade remedies are vital for fair practices and domestic manufacturing. Many trade defence probes are ongoing.
  • India, UAE move to expand strategic crude reserves; Abu Dhabi-linked oil storage may rise to 30 mln barrels June 10, 2026
    India and the UAE are boosting energy security. Plans are underway to significantly expand India's strategic oil reserves with UAE-linked crude storage. New facilities will increase capacity from 5.8 million barrels to 30 million barrels. Both nations are also establishing a framework for strategic gas reserves. This initiative aims to provide greater f […]
  • RBI proposes unified framework for banks' risk, compliance and audit functions June 10, 2026
    The Reserve Bank of India has released a draft framework for bank control and assurance functions. This aims to simplify rules and boost governance. The new guidelines will be effective from January 1, 2027. Banks must ensure their risk management, compliance, and internal audit functions are robust.
  • Agriculture Ministry's FY27 budget at Rs 1.4 lakh crore a five-fold jump from 2013-14 level June 10, 2026
    The Modi government has five-folded the agriculture ministry budget to Rs 1.4 lakh crore for 2026-27. Over 3,000 climate-resistant crop varieties were released. Farmers received Rs 4.3 lakh crore under PM-KISAN. Fertiliser subsidy rose to Rs 2.21 lakh crore. Foodgrain production reached a record 3,577 lakh tonnes. Agriculture exports grew by 37 percent.

 

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