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02-Jun-2023   12:31 Hrs IST Product design, high quality of goods & services, exports to determine India's success story: Goyal <p style="text-align: justify;">Highlighting the recently released high GDP growth estimates for FY 2023-24, Union Minister of Textiles, Commerce &amp; Industry, Consumer Affairs and Food and Public Distribution, Piyush Goyal has said that fashion trends, product design, innovative packaging, high quality of goods and services and high exports are going to determine India's success story in the future.&nbsp;</p><p style="text-align: justify;">The Minister further said that India's&nbsp; transformational journey since 2014 under the leadership of the Prime Minister Narendra Modi is now recognised globally, and drew attention to Morgan Stanley research report which also recognizes how India has emerged as a key driver for Asian and global growth.&nbsp;</p><p style="text-align: justify;">Besides, Piyush Goyal said that the National Education Policy 2020 aims to change the mindset pertaining to education by changing the curriculum and making it more inclusive and dynamic. He said that the Policy encourages critical thinking amongst the students to help them in their career.</p><div style="text-align: justify;"><br></div>
02-Jun-2023   11:32 Hrs IST NBFC-MFI's AUM likely to grow by up to 30% in FY24: Crisil <p style="text-align: justify;">Domestic rating agency Crisil in its latest report has said that Non-Bank Finance Companies-Microfinance Institutions' (NBFC-MFI) Assets Under Management (AUM) are expected to grow by up to 30 per cent in the current financial year (FY24).&nbsp;</p><p style="text-align: justify;">In a report, Crisil said the NBFC-MFI segment's AUM stood at Rs 1.3 lakh crore at the end of March 2023, and the segment has the highest share in the overall microlending universe which also consists of small finance banks, universal banks and other lenders. The overall AUM is expected to have touched Rs 3.4 lakh crore for the entire microlending universe and the growth in NBFC-MFIs has outpaced the same of other lenders. The growth in the NBFC-MFIs segment has come on the back of pent-up demand for credit and increase in ticket-size of disbursements.</p><p style="text-align: justify;">Rating agency further said NBFC-MFIs have been cleaning up their pandemic-impacted loan books through write-offs and sale to asset reconstruction companies through last fiscal. This, coupled with lower slippages in recent originations has helped bring down their stressed assets level. Profitability, which is measured by return on managed assets, is expected to exceed 3 per cent in FY24, versus 1 per cent in FY21 and FY22, and between 1.5-2 per cent in fiscal 2023. With all this in place, the agency expects the credit profiles of micro-financiers to strengthen this fiscal.&nbsp;</p><div style="text-align: justify;"><br></div>
02-Jun-2023   10:43 Hrs IST Rise in risk appetite may affect some Indian Banks' intrinsic credit profiles: Fitch
02-Jun-2023   09:55 Hrs IST GST collection surges 12% to Rs 1.57 lakh crore in May: Finance ministry
02-Jun-2023   09:03 Hrs IST India's economy likely to grow in range of 6.5-6.7% in FY24 with strong domestic drivers: CII President
01-Jun-2023   14:16 Hrs IST Centre's fiscal deficit narrows to 6.4% of GDP in FY23
01-Jun-2023   12:35 Hrs IST India's manufacturing sector PMI hits 31-month high in May
01-Jun-2023   12:19 Hrs IST Growth of bank credit to industry decelerates to 7% in April 2023: RBI
01-Jun-2023   10:54 Hrs IST Output of eight core industries slows down to six-month low of 3.5% in April 2023
01-Jun-2023   09:17 Hrs IST India's economic growth may exceed initial estimate of 6.5% in FY24: Nageswaran