Thursday, August 27
Kolkata: The finance ministry is preparing a credit guarantee scheme to support the stressed microfinance sector, two people in the know said. The sector is longing for government backing amid the ongoing asset quality stress. The scheme would encourage banks to lend to microfinance institutions (MFIs), especially the smaller ones, which are facing liquidity crunch amid limited access to bank funding. An announcement to this end is likely in the 2026 budget, people cited above said. The likely size of the guarantee programme is not known. This will be similar to the Credit Guarantee Scheme for Microfinance Institutions (CGSMFI) rolled out during the pandemic in 2021. At that time, the government had set up a ₹7,500 crore guarantee fund to encourage bank lending to micro-lenders. The sche
Mumbai: Vedanta Ltd will invest $20 billion across its businesses over the next 4-5 years, as the natural resources conglomerate envisages each of its soon-to-be demerged entities to be in a leadership position in its sector, group chairman Anil Agarwal said.Vedanta received the National Company Law Tribunal's clearance this week for the demerger, paving the way for the creation of four new entities over the next few months.Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power and Vedanta Iron & Steel will house the respective businesses, while Vedanta Ltd will hold the group's stake in Hindustan Zinc and act as an incubator for new and emerging businesses."We will probably look at investing $4 billion in oil and gas, and a similar amount in aluminium as a green field project," Agarw
