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The Ministry of Finance has clarified that first-time borrowers are not required to have a minimum CIBIL score to be eligible for bank loans. During the recent monsoon session of the Lok Sabha, Minister of State Pankaj Chaudhary reaffirmed the Reserve Bank of India’s (RBI) stance, stating that banks cannot reject loan applications solely based on the absence of a credit score or credit history. According to the RBI’s Master Direction dated January 6, 2025, credit institutions must not deny loans to individuals just because they lack prior credit records. Chaudhary further explained that in a deregulated credit environment, lenders evaluate loan applications based on commercial judgment, internal policies, and various inputs — one of which is the credit information report. A CIBIL sc...

Kotak Mahindra Bank demonstrated steady performance, opening at Rs 2035.05 and moving in line with sector trends throughout the trading day. The stock currently trades above its 5-day, 20-day, and 200-day moving averages but remains below the 50-day and 100-day averages, reflecting mixed momentum over the short to medium term. With a market capitalization of Rs 4,01,823.78 crore, the bank has delivered a strong one-year return of 11.61%, outperforming the Sensex, which gained just 1.35% during the same period. However, its recent performance has been uneven, with a 6.66% decline over the past month, while the Sensex dropped slightly by 0.25%. Year-to-date, Kotak Mahindra Bank has returned 13.13%, compared to the Sensex’s 4.94%. Over three years, the bank’s growth stands at 7.64%, la...

Equity benchmark indices climbed for the second consecutive session on Tuesday, driven by gains in auto stocks and Reliance Industries amid positive global sentiment. The Sensex rose 468.81 points (0.58%) to 81,742.56, while the Nifty gained 129.65 points (0.52%) to close at 25,006.60. Top gainers included Tata Motors, Reliance Industries, Adani Ports and SEZ, Bajaj Auto, and ETERNAL, with increases up to 4%. Key market drivers were: Auto shares jumped up to 6%, led by Ola Electric, Bajaj Auto, Hero MotoCorp, and others, boosted by reports of a possible GST cut on vehicles and China’s assurance to address rare earth magnet supply concerns. Reliance surged over 2% following Jio’s prepaid tariff changes and positive brokerage recommendations. Asian markets showed strength, ...

LTIMindtree, a technology consulting and digital solutions firm, has announced its collaboration with parent company Larsen & Toubro (L&T) and the Andhra Pradesh government to support the Amaravati Quantum Valley initiative. As part of this, LTIMindtree will establish a Quantum Centre of Excellence (CoE) within the valley. The CoE will focus on deep tech research, fostering quantum incubation and applied research that converts fundamental scientific advancements into practical industrial and societal applications. L&T will oversee the design, development, and management of the valley’s infrastructure, utilizing its large-scale construction expertise, according to a statement released on Monday. LTIMindtree confirmed its plans to work alongside the Andhra Pradesh government,...

SHILLONG: (Jul 13) The Shooting Association of Meghalaya announced on Sunday that it has commenced a series of trials aimed at identifying the finest talent from the state, which is preparing to host the 2027 National Games. The 39th edition of the National Games, a highly regarded sporting event in the country, will take place in Shillong for the first time. This event will gather elite athletes from various disciplines across the nation. Officials express confidence that the exposure and experience acquired through the trials will provide a competitive advantage at the Games.

Union Finance Minister Nirmala Sitharaman on July 11 inaugurated a series of landmark projects worth Rs 1,087.81 crore, spanning infrastructure, tourism, sports, women’s welfare and digital empowerment in Meghalaya. The projects were unveiled at a special event held at LARITI – International Centre for Performing Arts and Culture in Shillong. Calling it a “transformational moment” for the state, Sitharaman lauded Meghalaya for its efficient use of central funds, noting that the state has fully utilised its Rs 5,400 crore allocation under the Special Assistance to States for Capital Investment (SASCI) scheme. “While some states struggle to use their share, Meghalaya has shown how to convert funding into tangible progress,” she said. A major highlight was the announcement of the Rs 73...

Finance Minister Nirmala Sitharaman inaugurated the Polo Shopping Complex in Shillong, marking a significant step in Meghalaya's urban development. The Rs 100.33 crore project, built under the Shillong Smart City Mission, aims to revitalize the commercial heart and boost local entrepreneurs. The complex, which spans 9,686 square meters, is the first phase of an ambitious redevelopment plan. The Shillong Municipal Corporation has completed a major project focusing on environmental sustainability, including a 75-kilolitre sewage treatment plant, rainwater harvesting systems, and solar energy generation. The project will also include 110 CCTV cameras, 12 emergency exits, and a Building Management System. The state has secured significant infrastructure funding through the Special Assistan...

The Border Security Force (BSF) personnel deployed in Meghalaya’s South-West Khasi Hills district have been given specialised training on handling encounters with wild elephants. The initiative aims to reduce the risks associated with the frequent crossings of elephant herds through security installations along the international frontier. The training programme was conducted at the Gumaghat Border Outpost (BOP) under the 193rd BSF Battalion in Ranikor, and was organised jointly by the Meghalaya Forest Department and Aaranyak, a renowned wildlife conservation organisation based in the Northeast. A total of 33 BSF officers participated in the session. With the elephant corridors in the area overlapping with border patrol routes, security forces are increasingly encountering wild eleph...

A day before his 90th birthday, the Dalai Lama attended a ‘Long Life Prayer’ ceremony at the Main Tibetan Temple in Dharamshala, organised by the Kashag (Cabinet) of the Central Tibetan Administration on behalf of all Tibetans. The event marked a celebration of his life and the spiritual legacy he represents. Earlier, the Dalai Lama announced the ceremony via Facebook. In a recent video, he reaffirmed that the Dalai Lama institution will continue, asserting that only the Gaden Phodrang Trust — founded in 2015 — holds the authority to recognise his reincarnation, rejecting external interference, particularly from China. In response, India reiterated its neutral stance, with MEA spokesperson Randhir Jaiswal stating that the government does not comment on matters of religious belief ...

Meghalaya has witnessed a significant loss of 84.07 square kilometers of forest cover between 2021 and 2023, according to the latest India State of Forest Report (ISFR). The report, released by Union Environment Minister Bhupendra Yadav at the Forest Research Institute in Dehradun, highlights a concerning trend of deforestation across the northeastern states. The northeastern region, which covers only 7.98% of India's land area, contributes a substantial 21.08% to the country’s forest and tree cover. However, human activities such as agricultural expansion, infrastructure development, and settlements are contributing to the loss of forest cover. Forest officials in Meghalaya also pointed to jhum cultivation, a traditional slash-and-burn farming practice, as a key factor in deforestatio...