Sharon Stone on her famous leg-cross scene in Basic Instinct: ‘I Became a Legend, But Respect Never Came'
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Economic Times
an hour ago
- Economic Times
India said to be planning credit guarantees for small firms, exporters hit by US tariffs
Representational Synopsis The government is planning to provide credit support to shield small businesses with loans overdue up to 90 days, and is working on a credit guarantee scheme for small exporters amid higher tariffs imposed by the U.S., two government sources told Reuters. India is planning to provide credit guarantees for loans overdue up to 90 days to small businesses and exporters, amid higher tariffs imposed by the U.S., two government sources told Reuters. ADVERTISEMENT The federal finance ministry has proposed to provide 10-15% credit guarantees to banks for advancing loans to stressed small businesses, with turnover up to 5 billion rupees, that fall under the Reserve Bank of India's (RBI) so-called special mention accounts (SMA), the sources said. Loans that have not been repaid for 0-90 days fall under RBI's SMA 0-2 category, but are not classified as non-performing assets. India's small businesses still struggle with limited access to timely and adequate formal government will allocate about 40 billion rupees for providing guarantees to banks, both the sources scheme is designed for firms that are stressed due to external factors "beyond their control", and the eligibility criteria is being firmed up, according to the sources. ADVERTISEMENT The criteria will cover small exporters who are currently facing uncertainties due to higher tariffs imposed by the U.S., a key market for Indian exports, the second source government estimates that about 55% of its merchandise exports to the United States will be subject to the tariff imposed by President Donald Trump's administration. ADVERTISEMENT The finance ministry did not immediately respond to an email seeking the Indian government is preparing a scheme to provide term loans for small exporters that would be backed by a government guarantee of a maximum 70-75%, the second source said. The scheme was announced by India's finance minister in the budget for 2025/26. ADVERTISEMENT (You can now subscribe to our Economic Times WhatsApp channel) governmentexportersus tarifftariff newsindia tariff news (Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online. NEXT STORY
Economic Times
3 hours ago
- Economic Times
Demi Lovato, open to finding love with any gender and married to Jordan Lutes, makes surprise appearance at first night of Jonas Brothers' JONAS20; details inside
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Time of India
3 hours ago
- Time of India
Demi Lovato, open to finding love with any gender and married to Jordan Lutes, makes surprise appearance at first night of Jonas Brothers' JONAS20; details inside
(Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates.
