India wrap league stage with 17-run victory
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India’s trade deficit widens to $34.68 billion in Jan
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RBI restores default loss guarantees for NBFCs
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Mumbai: In a move that could support stronger credit expansion, the Reserve Bank of India (RBI) has restored the use of default loss guarantees (DLGs) for non-bank lenders, rolling back last year's curbs that had forced them to make higher provisions on loans sourced through fintech partners.Non-banking finance companies (NBFC) can now factor in DLGs when setting aside buffers for potential loan losses, provided the guarantee forms an integral part of the loan arrangement, the RBI said last week. The regulator also said lenders must update their loss estimates each time the guarantee is invoked, as the protection available reduces with every use.For NBFCs, this change reduces provisioning pressure, improves profitability, and frees up balance-sheet capacity for fresh lending. For fintechs, meanwhile, it would encourage greater loan origination. The revised framework takes effect immediately.128394142 "This is a significant relief for NBFCs like us that are engaged in digital l...
Haryana unveils manufacturing mega push
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New Delhi: Haryana is set to sharpen its industrial edge with a forward-looking framework designed to position the state as a global manufacturing hub. The policy promises capital subsidies, employment-linked incentives and tailor-made sectoral packages aimed at boosting competitiveness across industries.Framed as Make in Haryana for the World, the initiative reflects the state's intent to move beyond incremental growth and actively court large-scale investments in manufacturing, logistics and sunrise sectors.Amit Agarwal, Haryana's industries and commerce secretary, outlined how the new policy fits into a broader economic strategy anchored in scale, productivity, and prosperity at the summit.Haryana's economic fundamentals already provide a strong foundation, he said. With a gross state domestic product (GSDP) of $79 billion in real terms and an average annual real GDP growth of 6.8%, the state has demonstrated consistent performance. Despite accounting for just 1.3% of In...