No plan to give loans to beneficiaries of Majhi Ladki Bahin scheme: Maharashtra minister Aditi Tatkare
The reply also remained silent on the ruling alliance's promise of increasing the monthly payout under the scheme from Rs 1,500 to Rs 2,100. The written reply was to questions raised by MLAs from both ruling and opposition sides.
'Under the scheme, there is a provision to provide financial benefit of Rs 1,500 per month to eligible beneficiary women. In the financial year 2025-26, a budgetary provision of Rs 28,290 crore has been made for the general category, Rs 3,240 crore for the tribal category under the Tribal Development department and Rs 3,960 crore for the Scheduled Caste and Neo-Buddhist category under the Social Justice and Special Assistance department. Accordingly, the funds made available have been distributed to pay financial benefits to eligible beneficiary women,' said the reply.
The department accepted that under the scheme, 2,289 women state government employees benefited. 'Their benefits have been discontinued,' Tatkare said in her written reply.
In May this year, Pawar had said the government was exploring partnerships with cooperative and regional banks to facilitate these loans. 'District cooperative banks can give Rs 30,000-40,000 loan to my sisters which can be the capital to start a small business. And Rs 1,500 every month will get deposited in these banks every month which will repay the loan amount,' Pawar had said at a programme in Nande district's Mukhed. Chief Minister Devendra Fadnavis too had said the state government was working to ensure the financial aid provided under it brings gainful benefits to beneficiaries. 'The state government is working to ensure financial aid brings gainful benefits to beneficiaries. The scheme will be implemented effectively,' the CM had said.
Replying to a question about the details of the scheme announced by Pawar, the minister in her written reply said that no such plan is on the cards at present.
The 'Mukhyamantri Majhi Ladki Bahin Yojana', the flagship scheme of the previous Eknath Shinde-led government, was formally launched in August last year. Under the scheme, eligible below poverty line women get financial assistance of Rs 1,500 per month through direct benefit transfer (DBT).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
14 minutes ago
- Economic Times
Muthoot Finance gets target price boost from Jefferies and Nuvama. Is it time to buy?
Leading brokerage firms, Jefferies and Nuvama, have raised their target prices on Muthoot Finance following the company's robust Q1FY26 performance. Both firms have reiterated their bullish stance on the non-banking financial company, citing strong growth in gold loan assets, margin expansion, and improved asset quality as key positives. ADVERTISEMENT The newly assigned target prices reflect a healthy 19% upside in the stock from its closing price on Wednesday. Additionally, after the results, the stock surged 11.3% to its new 52-week high of Rs 2,793.65 on the BSE. Jefferies has maintained its 'Buy' rating on Muthoot Finance while increasing its target price to Rs 2,950 from Rs 2,660, valuing the stock at 2.7x September 2027 estimated book value. The brokerage highlighted the company's 90% YoY growth in standalone profit to Rs 2,046 crore, driven by strong gold loan growth, margin expansion, and NPA to Jefferies, Muthoot Finance's Q1 performance benefited from a favourable macro environment for gold loans, with AUM up 42% YoY and loan-to-value (LTV) ratios offering headroom for further growth. Margins improved sequentially, with the net interest margin (NIM) rising by 88 basis points to 12.2%. This was aided by recoveries totalling Rs 3.5 billion, including Rs 1 billion from asset reconstruction companies, and the rest from non-performing loan settlements. ADVERTISEMENT The brokerage also noted that while loans are largely fixed-rate, about half of borrowings are floating and mostly linked to MCLR, implying some lag in cost repricing. Jefferies expects Muthoot to deliver a 23% profit CAGR with return on equity (ROE) exceeding 21% over FY26–28, supported by steady loan growth, controlled credit costs, and limited loan losses. Unlock 500+ Stock Recos on App ADVERTISEMENT Nuvama has also reiterated its 'Buy' recommendation, raising its target price to Rs 2,993 from Rs 2,625, based on a 3.4x FY26 estimated book value. The brokerage described Muthoot's Q1FY26 as a 'strong all-round beat,' significantly outperforming peers across growth, profitability, and asset quality pointed out that consolidated AUM rose 10% QoQ and 42% YoY, with gold AUM alone growing 40% YoY and 10% QoQ. Margins expanded by 88 basis points sequentially, aided by recoveries from both NPL settlements and ARC transactions. Even excluding recoveries, yields remained steady, unlike the declines seen among other lenders in the sector. ADVERTISEMENT The brokerage also highlighted the company's efficient cost management and significant reduction in credit costs during the quarter. Recoveries of Rs 3.5 billion, including Rs 1 billion from ARC sales, directly contributed to yield improvement. Additionally, subsidiaries' growing contribution to the gold loan business is expected to support overall momentum. Nuvama added that management remains confident in sustaining both yield and growth levels going Finance on Wednesday reported a consolidated net profit of Rs 1,974 crore for the quarter ended June 30, 2025, up 65% from Rs 1,196 crore in the corresponding period last year. ADVERTISEMENT Sequentially, profit rose 37% from Rs 1,444 crore in Q4FY25. The lender's consolidated loan assets under management (AUM) reached a record Rs 1,33,938 crore, representing a 37% year-on-year increase and a 10% rise from the previous loan AUM, a key business segment for the company, grew 40% YoY to Rs 1,13,194 crore, marking its highest annual growth in this segment to company also reported other operational highlights during the quarter, including crossing the Rs 1 trillion market capitalisation milestone, opening 22 new branches, and winning six awards at the E4M Golden Mikes, such as the Golden Category award for Best Integrated TV Campaign and the Silver Category award for Best Use of Influencers/Celebrities on TV for its 'Sunheri Soch' Season 3 campaign. Also read: Zerodha's Nithin Kamath on how a boring, invisible Sebi step brought windfall gains for retail investors (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
NDTV
14 minutes ago
- NDTV
"Not Going To Lose Our Cool": Supreme Court On Another Faulty High Court Order
Days after controversy over Allahabad High Court judge's faulty order, the Supreme Court bench of Justices JB Pardiwallah and R Mahadevan on Wednesday set aside a Rajasthan High Court order denying anticipatory bail to a couple in a case which was found to be a civil dispute but was given a criminal colour. Justice JB Pardiwallah remarked that he was "controlling like anything" and would laugh it off this time. "We are not going to lose our cool today. Today, we are controlling like anything. The medicine is to laugh," he said, before bursting into laughter on reading the case file with the same mistake that had triggered him to bar a high court judge from hearing criminal cases till he retires. The Supreme Court last week slammed Justice Prashant Kumar of the Allahabad High Court for his remarks made in a judgment suggesting that criminal prosecution may be permitted to recover money as an alternative remedy in a civil suit. The same bench of Justice JB Pardiwallah had ordered the removal of criminal cases from Justice Kumar's roster after finding that he had allowed criminal prosecution to continue in a purely civil dispute. This move had sparked controversy as 13 judges from the Allahabad High Court then wrote to Chief Justice of India BR Gavai, saying that a Chief Justice of a high court is the master of the roster in the high court and Justice Pardiwallah's order was a judicial overreach. CJI Gavai then sent the case back to Justice Pardiwallah's bench of reconsideration. On August 4, the bench of Justice Pardiwallah rolled back the directive that had barred the Allahabad high court judge from hearing any criminal cases for the remainder of his tenure and ordered him to sit with a senior colleague to "learn the nuances of law." The controversy had barely subsided when another such case, this time from the Rajasthan High Court, came in front of the same bench. The top court was hearing an appeal by a couple against the Rajasthan High Court's refusal to grant them anticipatory bail in a case arising from an alleged unpaid amount for a plywood consignment. The complaint claimed Rs 3.5 lakh had been paid, but the balance of Rs 12.5 lakh remained unpaid. A first information report (FIR) was registered against the couple under Sections 420 (cheating), 406 (criminal breach of trust), and 120B (criminal conspiracy) of the Indian Penal Code. The top court noted that even on a plain reading of the case, the only possible allegation was cheating. It was observed that the offence of criminal breach of trust could not arise once there was a sale transaction. "It is but obvious that the only submission before the High Court could be that it is a case of civil dispute. There is no question of criminal breach of trust once there is a sale transaction. This is a settled position of law," the court said. The judges expressed disappointment with the reasoning in the High Court order, particularly the part that recorded the submission of the public prosecutor that recovery of the Rs 12.5 lakh balance could not be effected because the accused were protected from arrest. Justice Pardiwallah laughed again and said, "What we have understood is that according to the State, police machinery is required for the purpose of recovery of the balance amount. We need not say anything further in the matter. Ordinarily, we do not set aside orders of the High Court denying bail. But this is an order we deem fit to set aside."
NDTV
14 minutes ago
- NDTV
"Baseless, Malicious": Shilpa Shetty, Raj Kundra On Rs 60 Crore Fraud Case
Mumbai: In their response to a businessman's allegations of a Rs 60 crore fraud, actor Shilpa Shetty and businessman husband Raj Kundra have said there is "no criminality involved" and the case against them is "baseless and malicious" and aimed at maligning their reputation. This comes after businessman Deepak Kothari accused the couple of cheating him, and the Economic Offences Wing of Mumbai Police filed an FIR against Ms Shetty and Mr Kundra. Mr Kothari, director of Lotus Capital Financial Services Limited, has alleged that the couple took money from him to expand their business but used it for personal expenses. The businessman has said that the celebrity couple approached him in 2015 and sought a Rs 75 crore loan for their company, Best Deal TV Private Limited, a shopping TV channel, at a 12 per cent interest rate. According to the businessman, Ms Shetty and Mr Kundra later asked him to give the funds as an "investment" instead of a loan and assured him of monthly returns and repayment of principal. Mr Kothari has said he transferred Rs 31.95 crore in April 2015 under a share subscription agreement, and Rs 28.53 crore in September 2015 under a supplementary agreement. The amount was credited to Best Deal TV's bank accounts. The businessman said in his complaint that repeated attempts to recover the funds failed, and accused the couple of "dishonestly using" the money. The Economic Offences Wing is currently investigating the matter. The couple's lawyer, Advocate Prashant Patil, has now put out a statement. "My clients have been informed by certain segment of electronic and print media that there is an alleged case registered against my clients at the Economic Offences Wing, Mumbai. "At the outset, my clients deny all the allegations against them which are purely civil in nature and have been adjudicated by the NCLT Mumbai on 04/10/2024. This is an old transaction, wherein the company went into financial distress and eventually got entangled in a long legal battle at the NCLT," the lawyer has said. "There is no criminality involved and our auditors have submitted all the necessary supporting documents from time to time, as requested by the EOW, including detailed cash flow statements. The investment agreement in question is purely in the nature of an equity investment," the statement added. The company, the lawyer said, has received a liquidation order that has been placed before the cops. "The concerned Charter accounts have visited the police station for last one year for more than 15 times with all the evidence supporting the claims of my clients," he said. "This is nothing but a baseless and malicious case aimed at maligning our clients, and appropriate action is being initiated from our side against the perpetrators," the lawyer said. Mr Kundra has made headlines for the wrong reasons of late. Last year, his premises were searched by the Enforcement Directorate in connection with a money laundering case. In 2021, he was arrested in a case linked to the production and streaming of pornographic films. He was later granted bail.
