INTEREST SUBVENTION SCHEME
PM Vidyalaxmi Scheme: PNB cuts education loan rates by 20 bps; check new interest rates, other details
Punjab National Bank has reduced education loan interest rates by 20 bps under the PM Vidyalaxmi scheme, enhancing accessibility to higher education. The initiative supports students admitted to 860 Quality Higher Education Institutions, offering need-based financing with interest subventions based on family income. Interest rates start at 7.50% per annum, with specific subvention benefits for technical and other courses.
Cabinet approves railway multitracking projects in Maharashtra & MP; 4-lane Badvel-Nellore highway in Andhra Pradesh
The Union Cabinet has approved railway projects in Maharashtra and Madhya Pradesh, enhancing connectivity for 784 villages and boosting freight capacity. A new highway in Andhra Pradesh will improve port access, reduce travel time, and generate employment. These infrastructure developments aim to improve transportation efficiency, reduce environmental impact, and stimulate economic growth in the respective regions.
Cabinet gives nod to extend Modified Interest Subvention Scheme at 1.5% rate for FY26
The Union Cabinet, led by Prime Minister Modi, has approved the continuation of the Interest Subvention component under the Modified Interest Subvention Scheme (MISS) for FY26, benefiting over 7.75 crore KCC accounts.
Assam unveils Rs 25,000 crore plan to push electronics manufacturing
The Assam government announced a Rs 25,000-crore initiative to promote electronics manufacturing, including generous incentives for component producers. With Tata’s Rs 27,000-crore chip assembly plant set to launch next year, Assam aims to attract more investment, create jobs, and leverage multiple fiscal benefits to strengthen its industrial base.
Why Indian students working part-time should be the norm, not the exception
As higher education costs surge in India, an 'earn while you learn' program in Andhra Pradesh offers a refreshing solution. Encouraging students to take on-campus jobs like janitorial or gardening work can instill accountability and respect for all types of labor.
Even RERA won’t help if you commit these 6 mistakes while buying a property
RERA safeguards homebuyers against real estate developer malpractices, but its effectiveness hinges largely on buyer diligence. RERA may not favor the homebuyer in multiple situations arising from either the buyer’s actions, the builder’s actions, or those caused by government policies or events beyond anyone's control. Understanding these exceptions is crucial for informed decisions when investing in property. Read on to know more about instances where RERA might not grant compensation to distressed homebuyers so that you can be careful while buying real estate.
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RBI imposes penalties on five major banks for compliance failures
ICICI Bank was fined for non compliance on cyber security framework in banks, know your customer (KYC) regulations, and credit card and debit card - issuance and conduct.
India's total exports jump to record $825 bn in FY25 as services shipments rise over 13%
India's exports reached a record USD 824.9 billion in 2024-25, propelled by a surge in services exports to USD 387.5 billion. This represents a 6.01% growth over the previous year, with key sectors like telecommunications and financial services contributing significantly. However, concerns remain about order inflows from the US and Europe, prompting calls for government support.
Comm Min's export promotion mission may have 12-point plan to push exports, help MSME exporters
The commerce ministry's Export Promotion Mission (EPM), with a Rs 2,250 crore outlay, is set to launch with up to 12 components. These include easy credit schemes for MSMEs and e-commerce exporters, overseas warehousing facilitation, and global branding initiatives.
Commerce Ministry seeks views of exporters on proposed schemes under export promotion mission
Focus areas include easy credit, factoring services, and tackling non-tariff measures. The government is also considering a trade assistance program for risky markets.
Number of operational cos in J&K up 3x over 5 years. What will happen now after terror attack?
Following the abrogation of its special status, Jammu and Kashmir witnessed a near threefold increase in operational businesses, reaching 8,168 by March 2025. While the recent Pahalgam attack and India-Pakistan tensions raise short-term investor concerns, government officials remain optimistic about the region's long-term growth prospects, citing sustained development initiatives and reduced terror incidents since 2019.
Tariff war puts Rs 21,800 cr in MSME, mid-corporate loans at risk: Report
India Ratings warns that Rs 21,800 crore in loans to high-risk MSMEs and mid-corporates are threatened by worsening operating conditions due to the escalating tariff war. MSMEs, particularly in sectors like chemicals and textiles, face growing vulnerability. Mid-corporates possess a stronger financial buffer, but a slowdown in demand could severely impact MSMEs.
Does parents’ default impact student loans?
Banks are urging RBI and government to reconsider classifying education loans as non-performing when a co-applicant parent defaults on a separate loan. Current regulations classify all borrower accounts as NPA if one turns sour, impacting education loan disbursements.
No need to panic, India-US talks on: Piyush Goyal to exporters
At a meeting with exporters and industry, Piyush Goyal said that the team working on the Bilateral Trade Agreement (BTA) with the US is exploring the right mix and the right balance, and is "working with speed but not in undue haste" to ensure the right outcome for the country.
India weighs export support measures amid US tariff hike, say government sources
India is weighing steps like extending interest subsidies on bank loans and introducing incentives to support exporters in diversifying, amid growing global uncertainty following the recent U.S. tariff hikes. The imposition of a 26% tariff on Indian exports—along with even higher duties on goods from countries like China—has heightened trade tensions and sparked concerns among Indian exporters in sectors such as gems and jewellery, chemicals, pharmaceuticals, and engineering goods.
Govt panel set up to monitor import surge from China, Vietnam
India is establishing an import monitoring group to prevent the diversion of goods from countries facing higher US tariffs, such as China and Vietnam. This move comes as the US has imposed a 26% reciprocal tariff on India, while other Asian competitors face higher rates.
FIEO for 5pc interest subvention immediately as high US tariffs delay export payments
FIEO urges the government to reinstate the interest subsidy scheme as new US tariffs, effective April 9, threaten to delay payments to Indian exporters. The 26% duty will burden US importers, potentially causing a liquidity crunch for Indian businesses. Exporters are also facing demands for discounts up to 14% from US buyers to offset the tariff impact.
Budget 2025: What is subvention and how does it work?
The government provides financial aid called subvention to reduce loan interest. This helps farmers access affordable loans. The Interest Subvention Scheme assists farmers with short-term loans at lower rates. This scheme supports rural livelihoods. It covers the Kharif season from 2006-07 through 2024-25. The government also helps farmers after natural disasters by covering interest on restructured loans.
Uddhav Thackeray asks Centre to restore 2 pc interest subvention scheme for farmers
Uddhav Thackeray said under the scheme, the central government had made 2 per cent interest subvention or subsidy available to cooperative as well as nationalized banks which enabled these lending institutions to disburse short-term crop loan to farmers at confessional rate.
Government hopes to reach poorest families with VISVAS, an interest subvention scheme
For the first year, the Centre has identified 3.28 lakh beneficiaries, including 1.98 lakh SCs and 1.27 lakh OBCs, for its interest subvention scheme
Spinners appeal to announce interest subvention scheme
In a letter to Nirmala Seetharaman, ITF Secretary Prabu Damodaran said most of the small and medium sized mills were expected to make losses.
Govt approves interest subvention scheme for farmers
The government has approved the implementation of 2 per cent interest subvention scheme for the year 2015-16 for short term crop loans upto Rs 3 lakhs.
Commerce Minister Nirmala Sitharaman moves Cabinet note on interest subvention scheme
Last week, Nirmala Sitharaman had told Parliament that the interest subvention scheme for various sectors was under consideration of the government.
Interest subvention scheme under consideration: Government
Loans at subsidised rates will help exporters boost shipments as the country's exports were in negative zone during the past seven months.
Government releases to NABARD Rs 11,281 crore for settling farm interest claims
The government said it has released Rs 11,281 crore between April and July to NABARD to pay interest subvention claims to banks for short-term crop loans of up to Rs 3 lakh.
Tamil Nadu wants interest subvention scheme for farmers to continue
CM Jayalalithaa said it is learnt that the Centre was contemplating two major changes in the interest subvention scheme for crop loans.
Interest subvention scheme for housing sector soon: Venkaiah Naidu
“We have taken the views of various stakeholders, including real estate sector. Then we will go to the Cabinet shortly."
Government clears interest subvention scheme for farmers
An additional subvention of 3 per cent is being provided to those farmers who repay their loans on time.
Targeted interest subvention scheme in works
A new targeted interest subsidy scheme is being worked out for industries that have high employment generation potential such as handloom, leather, gems and jewellery.
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