The revamped PM SVANidhi scheme is set to offer street vendors higher subsidised loans and credit cards with a Rs 30,000 limit, thanks to bank participation. Rural vendors migrating to cities will also benefit from these loans, with an additional Rs 10,000 potentially included. This initiative aims to provide accessible capital and reduce reliance on high-interest informal loans.
Related news
PM Narendra Modi will inaugurate the Chenab Bridge on June 6. This bridge is the world's highest railway bridge. It connects the Kashmir Valley with India via rail. The bridge is a part of the Udhampur-Srinagar-Baramulla Rail Link project. The project faced engineering challenges due to terrain and seismic sensitivity. The Katra-Srinagar Vande Bharat train service will also launch.
Sebi has approved IPOs for six companies, including HDB Financial Services and Vikram Solar. HDB Financial Services plans to raise funds through a fresh issue and offer-for-sale, while Vikram Solar's IPO includes a fresh issue and an offer-for-sale by promoters. The funds raised will support business growth and capital requirements, with shares to be listed on BSE and NSE.
Infosys promoters are set to receive a substantial dividend payout of Rs 2,330 crore, driven by their significant 14.6% stake in the company. Nandan Nilekani and NR Narayana Murthy will earn Rs 175 crore and Rs 65 crore respectively, while even the grandchildren of promoters, like Ekagrah Rohan Murty, are benefiting from substantial dividend earnings.
Indian markets experienced a surge in foreign portfolio investments during May 2025, reaching Rs 19,860 crore, marking the strongest month for inflows this year. Despite a negative cumulative FPI investment of Rs 92,491 crore from January to May, the May inflows signal a potential shift in investor confidence, driven by a declining US dollar and positive market developments.
The Indian femtech sector, after a funding peak in 2021, is now seeing strategic consolidation through acquisitions. IVF Access, a fertility chain, recently acquired Proactive For Her, a digital women's health clinic. This acquisition signals a shift towards integrated platforms offering full-stack clinical care, moving beyond standalone apps to address the entire care journey.
Zoho cofounder Sridhar Vembu argues that the primary concern with AI and automation isn't job loss, but equitable wealth distribution. He envisions two potential solutions: drastically reduced costs of goods or increased compensation for human-centric roles. Vembu stresses the importance of regulatory oversight to prevent monopolies and ensure automation benefits are widely shared.
The rupee weakened by 7 paise to close at 85.55 against the US dollar, influenced by volatile equity markets and rising crude oil prices. Investors were cautious ahead of GDP data release, while the dollar strengthened after a US court ruling on tariffs. Despite FII selling, India's growth outlook remains robust, as highlighted by the RBI.
The Central Consumer Protection Authority (CCPA) has mandated e-commerce platforms in India to conduct self-audits within three months to detect and eliminate deceptive "dark patterns." This initiative aims to protect consumers from manipulative interface designs that lead to unintended actions. Platforms are also encouraged to submit self-declarations confirming compliance with anti-dark-pattern norms to foster transparency and build consumer trust.
The Income Tax Department has released the Excel utility for ITR-1 and ITR-4. This is for the Assessment Year 2025-26. Taxpayers can now file returns for income earned in financial year 2024-25. The deadline for these ITR forms is extended to September 15. Individuals and HUFs with income up to Rs 50 lakh can use these forms.
The Indian government has reduced the basic customs duty on crude edible oils to 10%, a move lauded by SEA and IVPA. This aims to support domestic refiners by discouraging refined palmolien imports. The decision widens the duty gap between crude and refined oils, potentially lowering domestic prices and benefiting consumers.