New Delhi, May 4 (KNN) The Ministry of Finance has declared the ongoing West Asia situation as a Force Majeure (FM) event for government procurement contracts, allowing relief for contractors and suppliers affected by disruptions linked to the conflict. In a notification, the Department of Expenditure said the prevailing situationContinue Reading
New Delhi, May 4 (KNN) The 7th amendment to the Insolvency and Bankruptcy Code (IBC), passed in April 2026, seeks to address prolonged delays in insolvency proceedings that have led to erosion of asset value, Crisil Ratings said in a press release. The amendment introduces mandatory timelines of 14–30 daysContinue Reading
New Delhi, May 4 (KNN) The Reserve Bank of India’s (RBI) final guidelines on shifting to an expected credit loss (ECL) framework are likely to result in a one-time net impact of up to 120 basis points (bps)on banks’ Common Equity Tier-1 (CET-1) ratios, according to Crisil Ratings. However, banksContinue Reading
New Delhi, May 4 (KNN) The Asian Development Bank (ADB) over the weekend launched a new financing facility aimed at strengthening critical minerals supply chains across Asia and the Pacific. The initiative is designed to support sectors such as clean energy, batteries, electric vehicles, and digital technologies. Speaking at theContinue Reading
New Delhi, May 5 (KNN) India has emerged as one of the most resilient large emerging market economies since 2020, supported by strong foreign exchange reserves and stable macroeconomic policies, according to Moody’s Ratings. In a report on emerging markets released on Tuesday, the agency noted that India’s sizeable forexContinue Reading
New Delhi, May 4 (KNN) The Department of Financial Services (DFS) under Ministry of Finance held a colloquium of chiefs of Debts Recovery Appellate Tribunals (DRATs) and presiding officers of Debts Recovery Tribunals (DRTs) at Vigyan Bhavan to review measures aimed at strengthening the debt recovery framework and reducing caseContinue Reading
New Delhi, May 5 (KNN) The Union Cabinet is likely to consider a Rs 2.5 lakh crore Credit Line Guarantee Scheme (CLGS) aimed at supporting micro, small and medium enterprises (MSMEs) and providing targeted relief to the aviation sector. The scheme is set to provide support to businesses hit byContinue Reading
