The Centre has approved the introduction of the Mutual Credit Guarantee Scheme for MSMEs (MCGS—MSME), which provides 60 percent guarantee coverage by National Credit Guarantee Trustee Company Limited (NCGTC) to Member Lending Institutions (MLIs) for credit facilities up to Rs. 100 crore sanctioned to eligible MSMEs. This fulfils the budget announcement of 2024-25.
MCGS-MSME is expected to facilitate the availability of credit for the purchase of Plant and Machinery/Equipment by MSMEs, giving a major boost to manufacturing and thereby to Make in India.
MLIs include All Scheduled Commercial Banks (SCBs), Non-Banking Financial Companies (NBFCs) and All India Financial institutions (AIFIs) that register with NCGTC under the scheme.
Borrower should be an MSME with a valid Udyam Registration Number. The loan amount guaranteed shall not exceed Rs. 100 crore. Project costs could be higher. The minimum cost of equipment /machinery is 75 percent of the project cost. Loans up Rs. 50 crore under the scheme shall have a repayment period of up to 8 years with a moratorium period of up to 2 years,
on principal instalments.
For loans above Rs. 50 crore, a higher repayment schedule and moratorium period on principal instalments can be considered. An upfront (initial) contribution of 5 percent of the loan amount shall be deposited at the time of application for guarantee coverage;
the annual guarantee fee on the loan under the scheme shall be Nil during the year of sanction. During the next 3 years, it shall be 1.5 percent per annum of loan outstanding as of March 31 of the previous year. Thereafter, the Annual Guarantee Fee shall be 1 percent p.a. of the loan outstanding as on March 31 of the previous year.
The scheme will be applicable to all loans sanctioned under MCGS-MSME during the period of 4 years from the date of issue of operational guidelines of the scheme or till a cumulative guarantee of Rs. 7 lakh crore is issued, whichever is earlier.
Capital markets regulator Sebi said it has launched a digital knowledge repository, "Dharohar - Milestones in the Indian securities market", on the occasion of the country's 76th Republic Day. The securities market, known for its diverse products, participants, and institutions, has a long-standing history of organised trading over the past 150 years, Sebi said.
Dharohar has been designed to document and showcase this rich heritage and evolution of the Indian securities market.
It is designed to cater to a wide audience, including students, investors, researchers, journalists, market participants and the general public offering insights into the market's diverse products, participants, and institutions.
With over 3,000 assets, Dharohar documents the market's journey through articles, regulations, interviews with prominent personalities, historic newspaper clippings, share certificates, infographics, videos, and committee reports etc.
The official logo and mascot for the 23rd National Para Athletics Championship 2025 were unveiled.
Scheduled to take place from February 17-20, the championship will bring together over 1,700 para athletes from across the country.
The unveiling ceremony was attended by distinguished dignitaries, including Atulya Misra, Jayawant Gundu,
Secretary of the Paralympic Committee of India, Arjuna Awardee and Indian para-badminton player Thulasimathi Murugesan amomg others. The Sports Development Authority of Tamil Nadu (SDAT) has played a pivotal role in making this championship a a reality, offering its full support in collaboration with the Tamil Nadu Para Sports Association.
Elon Musk-owned social media platform X is collaborating with Visa to introduce a real-time payment system, marking progress toward Musk's long-standing goal of transforming the platform into an "everything app."
Visa has been announced as the first partner for the platform’s upcoming “X Money Account” service, expected to launch later this year.
The service will enable in-platform digital wallets and peer-to-peer payments linked to users’ debit cards, with an option to transfer funds directly to bank accounts.
Visa confirmed that these services will operate via Visa Direct, the company’s instant money transfer solution. Initially, X Money Account users in the US will have access to the feature.
However, it remains unclear whether the service will expand internationally or if additional payment partners will be introduced. A specific US launch date has not yet been provided.
Maruti Suzuki India Ltd said its board has approved the reappointment of Hisashi Takeuchi as Managing Director and Chief Executive Officer for a further period of three years with effect from April 1, 2025. The board in its meeting held on January 29, 2025 approved the appointment of Takeuchi as MD and CEO for a further period of three years till March 31, 2028.
Takeuchi was first appointed as Managing Director and Chief Executive Officer with effect from April 1, 2022, consequent to the completion of the term of his predecessor Kenichi Ayukawa on March 31, 2022.
He has been on the Board of Maruti Suzuki since July 2019 and was Joint Managing Director (Commercial) from April 2021 till his elevation.
He joined Suzuki Motor Corporation (SMC) in 1986 and has a vast experience in the international operations at SMC as well as in overseas markets.
Markets regulator Sebi said it has developed a web-based portal for submission of preliminary and final root cause analysis (RCA) reports of technical glitches by stock exchanges and other market infrastructure institutions (MIIs).The new portal -- Integrated Sebi Portal for Technical Glitches (iSPOT) -- is aimed at streamlining the reporting process of technical glitches.
Presently, the MIIs -- stock exchanges, clearing corporations and depositories -- are required to report information about technical glitches and submit the Root Cause Analysis (RCA) reports to Sebi on a dedicated email ID.
The regulator said, "The preliminary and RCA report of technical glitch shall be shared by the MII with Sebi through a dedicated based portal of Sebi.
iSPOT has been integrated with Sebi's Intermediary(SI) portal for ease of access to MIIs and can be accessed by MIIs by using the existing login credentials of SI portal.
The new circular will come into force from February 3.
Vedanta Resources Ltd, the parent firm of Mumbai-based mining conglomerate Vedanta Ltd, announced the appointment of Deshnee Naidoo as its first Chief Executive Officer (CEO) to spearhead its fresh growth phase.
Her appointment comes at a time when Vedanta Resources Ltd's Indian subsidiary, Vedanta Ltd, is demerging its businesses to unlock significant value for stakeholder
This marks Naidoo's second stint with the company.
In her previous assignment, Naidoo was CEO of nickel and copper firm Vale Base Metals.
Naidoo's appointment is with effect from January 20, 2025, the company said.
She was with Vedanta from 2014 to 2020 and served in senior leadership roles including CEO of Africa Base Metals and CEO of Vedanta Zinc International.
India celebrates Martyrs' Day, also called Shaheed Diwas or Sarvodaya Day, on January 30 to remember those who sacrificed their lives for the nation's independence. This day is particularly important since it commemorates Mahatma Gandhi's assassination. During the evening prayers at Gandhi Smriti in Birla House in 1948, Nathuram Godse killed Gandhi (Bapu).
The impact of Mahatma Gandhi went much beyond India's fight for freedom. He promoted justice, nonviolence, and peace on a global scale. Gandhi brought millions of people together under the banner of truth and non-violence by leading movements such as the Khilafat Movement, Quit India Movement, Civil Disobedience Movement, Non-cooperation Movement, and Champaran Satyagraha.
MobiKwik has made history by becoming the first fintech company in India to launch a full-scale Central Bank Digital Currency (CBDC) wallet, e-rupee (e₹), in collaboration with the Reserve Bank of India (RBI) and Yes Bank.
The e₹ wallet, now available to all Android users of MobiKwik, facilitates seamless peer-to-peer (P2P) and peer-to-merchant (P2M) transactions.
Users can scan any UPI QR code to make payments using e₹, as the wallet is fully integrated with the Unified Payments Interface (UPI).
Existing MobiKwik users who have completed KYC verification can instantly open an e₹ wallet and transfer funds from their bank accounts. New users must complete a video KYC process to access the feature.
he wallet allows transactions of up to Rs. 50,000 per day, with a Rs. 10,000 per transaction limit. It supports denominations ranging from ₹0.50 to Rs. 500.
“The e₹ will help digitize the Indian rupee and accelerate the digital economy. We aim to drive its adoption nationwide and reduce cash dependency,” said Bipin Preet Singh, Co-founder & MD, MobiKwik.
Initially, the RBI restricted digital currency access to banks, but in April 2024, it extended access to non-banking entities. MobiKwik, recognized for its innovative financial solutions, was invited to join the RBI’s CBDC initiative and launched the service in record time.
Founded in 2009, MobiKwik is India’s largest digital wallet by market share.
