Gold loans drive retail credit growth, home loans slow
Gold loans surged 50.4% in FY26, driving retail credit, while home loans grew only 9.4%. Credit card outstandings remained flat, per CRIF India report.
Category : Business
RBI Tightens Mobile Lock Rules, Penalty for Delayed Unlock
RBI's amended draft restricts mobile lock by financiers, requiring consent and 90-day default period. Unlock within 1 hour or pay Rs 250/hour penalty. New rules enhance borrower protection.
India's Core Infra Sector Growth Rises to 1.7% in Sep
India's eight core infrastructure sectors grew 1.7% in September 2024, driven by coal and electricity, while crude oil and natural gas contracted.
Renewables Need 700k Acres for 2030 Goal
India's renewable energy sector requires 700,000 acres of land to achieve its 2030 target of 500 GW capacity, according to a new report highlighting land use challenges.
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Bosch Q4 Net Profit Up 2.71%
Bosch reported a 2.71% rise in net profit for Q4, reaching Rs 368 crore, driven by operational efficiency despite challenging market conditions.
Pune Firm Tests Suryastra Rocket Launcher in Odisha
Pune-based NIBE Ltd successfully tested EXTRA (150km) and Predator Hawk Suryastra (300km) rockets in Odisha. Suryastra is India's first indigenous multi-calibre rocket launcher for precision deep strikes.
HAL bets big with HR reset to break bureaucratic patterns
Hindustan Aeronautics Limited launches a major HR overhaul with a new Central HR Council to streamline operations and shed its slow, bureaucratic image.
Rupee hits record low of 96.96, forward rate breaches 100
The rupee slid to a new low of 96.96 in spot trade, while one-year forward rates breached 100. The currency closed at 96.82, down 29 paise, amid West Asia conflict and higher oil prices.
Panic at Nirmal Ujjwal Credit Society as Depositors Rush to Withdraw
Hundreds of anxious depositors have crowded the Chandrapur branch of Nirmal Ujjwal Credit Co-Operative Society Ltd after it stopped accepting new FDs and renewals, sparking fears over savings safety.
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Nagpur Police Arrests Thief, Recovers Laptops Worth Rs 4 Crore
Nagpur Rural Police arrested a key member of an interstate theft syndicate, recovering 464 laptops and tablets worth Rs 4.14 crore. The accused, Azharuddin alias Idris, was nabbed with Rajasthan Police.
VTA Urges PM Modi to Suspend Cash Subsidies Amid Fuel Price Hike
Vidarbha Taxpayers Association urges PM Modi to temporarily suspend cash subsidies due to rising inflation from global tensions and fuel price hikes, impacting transportation and industries.
RIL adjournment plea opposed; SC to continue gas dispute hearing
The Centre opposed RIL's request to adjourn the gas pilferage hearing for conciliation. The Supreme Court will conclude the hearing but allowed time for settlement.
AIESL Recalls Retired Technicians Amid Strike Over Resignation Row
Air India Engineering Services recalls 50 retired technicians as strike by 180 employees enters second week, raising safety concerns. Labour department examines wage code applicability.
Punjab Govt: Debt Servicing Exceeds New Borrowing
Punjab finance minister Harpal Singh Cheema reveals the state paid ₹5,845 crore in debt servicing against ₹5,300 crore in new loans, defending fiscal management amid opposition criticism.
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Railway Suppliers Seek Uniform Relief After Force Majeure
Railway suppliers have sought additional guidelines from the Union finance minister to ensure uniform relief after the Force Majeure clause was invoked due to the West Asian war.
CBI Files FIR Against Ex-Navy Captain for Disproportionate Assets
The CBI has filed an FIR against former Navy Captain Raminder Singh Wadhwa for amassing assets disproportionate to his income by 46% between 2010 and 2020.
Lucknow-Kanpur Expressway Opening by May 31, PM to Flag Off
The 63-km Lucknow-Kanpur expressway is expected to open by May 31, with PM Modi likely flagging off the first vehicle. The six-lane highway reduces travel time to 45 minutes.
IT Dept Hosts Awareness Programme at Lucknow University
The Income Tax department organized a programme at Lucknow University under 'Prarambh 2026' to educate taxpayers about the new Income Tax Act 2025 and Rules 2026, which replaced the 1961 Act.
Telangana RERA Chairman Resigns Due to Health Problems
Telangana RERA chairman N Satyanarayana resigned nearly two years before his term ended, citing health issues. The state government is expected to appoint a new chairman via a search committee.
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PMC to Appoint Contractors for Key Parking Lots
Pune Municipal Corporation will appoint contractors for key parking lots on JM Road and dismantle others after complaints of poor maintenance, fleecing, and lack of development. Activists demand action on encroachments.
IIT BHU Food Waste Initiative Feeds Needy
IIT BHU launches a food waste management system in hostels, collecting leftovers three times daily to feed cattle and distribute surplus food to underprivileged communities, enhancing campus cleanliness.
TSF Group, Bosch JV for Next-Gen Air Systems
TSF Group and Bosch plan a 50:50 joint venture to develop electronically controlled air systems for commercial vehicles, targeting global truck and bus markets.
ARAI Cuts Bus Body Certification Cost by 50%, Launches Portal
ARAI reduces bus body certification cost to Rs 14 lakh and launches a support portal to streamline approvals, aiming to enhance safety standards for buses across India.
Bhopal Bank Officials Sentenced for Land Scam
A special court in Bhopal sentenced three officials of District Cooperative Bank and a buyer to three years rigorous imprisonment for selling a farmer's mortgaged land at Rs 40,000, far below market value.
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Apollo Hospitals PAT up 34% in FY26, revenue crosses Rs 25,000 crore
Apollo Hospitals reported 34% growth in consolidated PAT to Rs 1,942 crore for FY26. Revenue rose 16% to Rs 25,229 crore. Q4 PAT jumped 36% to Rs 529 crore.
Nashik-Mumbai Highway Expansion Triggers Gridlock
Ongoing six-laning project on Mumbai-Agra highway creates bottlenecks, doubling travel time. Commuters fear monsoon will worsen conditions. NHAI expects completion by 2027.
Noida Power Demand Surges to 2,609 MW as Temperatures Soar
Noida and Greater Noida see major spike in power demand with temperatures touching 44°C. Noida's consumption rose to 2,609 MW, while Greater Noida reached 852 MW. Officials expect peak demand to cross 3,000 MW in July-August.
New Income Tax Act 2025 from April 1 to Simplify Compliance
Principal Chief Commissioner Satish Sharma announced that the new Income Tax Act 2025, effective April 1, will simplify compliance. The department will hold 18 outreach programmes in 14 Gujarat districts.
Saras Milk Prices Up Rs 2 in Jaipur, Dausa from May 21
Jaipur Zila Dugdh Utpadak Sahakari Sangh Ltd raises Saras milk prices by Rs 2 per litre in Jaipur and Dausa from May 21, citing rising production and operational costs.
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Odisha Cabinet Approves Revised Cost for Paradip Grid Substation
The Odisha cabinet approved a revised cost of Rs 854.24 crore for a grid substation at Paradip to meet rising industrial power demand in the PCPIR, increasing state equity to Rs 256.27 crore.
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