Centre extends CGSMFI-2.0 scheme and raises MFI loan cap to ₹1,000 crore

by Hansraj Agrawal | Jun 10, 2026 | Business

The Finance Ministry has extended the Credit Guarantee Scheme for Microfinance Institutions-2.0 (CGSMFI-2.0) by two months till August 31 or until guarantees worth ₹20,000 crore are issued, whichever is earlier.
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The Finance Ministry on Wednesday extended the validity of the Credit Guarantee Scheme for Microfinance Institutions-2.0 (CGSMFI-2.0) by two more months to August 31, or until guarantees amounting to ₹20,000 crore are issued, whichever is earlier.

It has also been decided to increase the maximum loan amount cap for Large-Sized NBFC-MFIs/MFIs to ₹1,000 crore from ₹300 crore, subject to an overall ceiling of 20% of Assets under Management (AUM). “Extension in validity and increase in maximum loan amount capped to Large Sized NBFC-MFIs/MFIs is expected to result in better utilisation of the scheme and facilitate increased credit flow to the MFI sector,” a statement issued by the Finance Ministry said.

Scheme aims to boost credit flow to microfinance sector

Centre introduced the CGSMFI-2.0 scheme on March 20, 2026. The scheme aims to provide guarantee cover to Banks/FIs through the National Credit Guarantee Trustee Company Limited (NCGTC) against expected losses arising from financial assistance extended by them to Non-Banking Financial Company-Microfinance Institutions (NBFC-MFIs) and MFIs for lending to small borrowers. As of date, loans totalling ₹770 crore have been sanctioned under the scheme.

Under the scheme, existing or new small borrowers within the regulatory definition of micro finance as prescribed by the RBI from time to time are eligible. Guarantee coverage means 80 per cent of the amount in default for small, 75 per cent for medium, and 70 per cent for large NBFC-MFIs/MFIs. Guarantee fee will be 0.5 per cent (per annum) on the sanctioned amount (1st year) & outstanding amount (thereafter).

Interest rate norms for lending under scheme

Interest rate is apped at EBLR or MCLR plus 2 per cent on loans by MLIs to NBFC-MFIs or MFIs. While on-lending to small borrowers, these MFIs/NBFC-MFIs shall cap the interest rate at 1 per cent below the average lending rate over the past 6 months.

Published on June 10, 2026

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Copper futures turn weak

by Hansraj Agrawal | Jun 10, 2026 | Business

Copper pipes of different diameter cut. 3d render.
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Copper futures (₹1,315/kg) has been on a decline over the past week. While the broader uptrend remains valid, there are signs of a corrective decline at the current juncture.

The June futures, after failing to rally above ₹1,385 last week, reversed the path and is on a decline. On Wednesday, the contract slipped below the support at ₹1,325, where the 23.6 per cent Fibonacci retracement of the previous upswing coincides.

The breakdown below the support at ₹1,325 has opened the door for further decline. While it may be too early to call the dips a bearish trend reversal, we will most likely see the price dropping to ₹1,265. Support below ₹1,265 is at ₹1,230.

On the other hand, if copper futures resumes the rally, it ought to reclaim ₹1,325 for the bulls to gain traction. If this occurs, the contract can extend the rally to ₹1,385.

Overall, as it stands, the near-term outlook is weak and so, traders can consider selling.

Trade strategy

Short copper futures (Jun) at ₹1,325. Target and stop-loss can be ₹1,275 and ₹1,350, respectively.

Published on June 10, 2026

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Gold slumps ₹4,300, silver tanks ₹10,000 as fresh oil rally rattles bullion demand

by Hansraj Agrawal | Jun 10, 2026 | Business

Gold prices slumped by Rs 4,300 to Rs 1.56 lakh per 10 grams while silver crashed by Rs 10,000 to Rs 2.45 lakh per kg in the national capital on Wednesday as a fresh jump in crude oil rates and a strong US dollar weakened demand for the precious metals.

According to local marketmen, gold of 99.9 per cent purity depreciated by Rs 4,300, or nearly 3 per cent, to Rs 1,56,000 per 10 grams (inclusive of all taxes) against the last close of Rs 1,60,300 per 10 grams.

Silver prices plunged by Rs 10,000, or 4 per cent, to Rs 2,45,700 per kg (inclusive of all taxes) from the previous closing level of Rs 2,55,700 per kg.

Gold prices staged a sharp reversal on Wednesday due to a fresh escalation in US-Iran geopolitical tensions that sent crude oil surging past USD 90 per barrel and strengthened the dollar, Rajkumar Subramanian, Head of Product & Family Office, PL Wealth, said.

He said that a spike in energy prices has rekindled worries over sticky inflation and a prolonged period of elevated interest rates, reducing the attractiveness of precious metals.

In the international markets, spot gold declined by USD 90.53, or 2.13 per cent, to USD 4,168.99 per ounce and silver traded 2.24 per cent lower at USD 63.87 per ounce.

“Gold and silver prices dropped in the overseas markets. The pullback in both precious metals was driven by a stronger dollar and rising US Treasury bond yields, which dampened the appeal of these bullion amidst ongoing geopolitical tensions and inflation concerns,” Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.

Published on June 10, 2026

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Gold ETFs break 13-month streak of positive inflow; record ₹725 cr outflow in May

by Hansraj Agrawal | Jun 10, 2026 | Business

After strong inflows in January, momentum tapered in subsequent months, indicating a gradual cooling in incremental allocations.

Gold ETFs witnessed an outflow of ₹725 crore in May, breaking a 13-month streak of positive inflows, due to government appeals against purchasing the yellow metal and several asset management companies halting fresh inflows into these funds.

This was the first outflow since April 2025, when the Gold ETF saw a withdrawal of ₹5.82 crore.

Overall, Gold ETFs (Exchange-Traded Funds) have attracted more than ₹70,000 crore since May 2025.

According to data disclosed by the Association of Mutual Funds in India (AMFI) on Wednesday, Gold ETFs witnessed an outflow of ₹725 crore in May, against an inflow of ₹3,040 crore in April. The inflow stood at ₹2,266 crore in March, ₹5,255 crore in February and ₹24,040 crore in January.

After strong inflows in January, momentum tapered in subsequent months, indicating a gradual cooling in incremental allocations.

The reversal appears to have been driven by a combination of profit booking following the earlier rally in gold prices and a shift in investor risk appetite, with some rotation away from safe-haven assets.

“With gold prices touching record highs, the government’s request not to purchase gold, and some AMCs stopping inflows into ETFs, investors seem to be taking a more practical view,” said Feroze Azeez, Joint CEO, Anand Rathi Wealth.

After a sharp rally, future returns may not look as attractive as they did over the past year. Some investors may also be booking profits and reallocating money towards other opportunities, especially equities that have corrected significantly, he added.

Nehal Meshram, Senior Analyst, Morningstar Investment Research India, said the rising opportunity cost of holding gold, particularly in an environment of relatively attractive yields in fixed income, may have contributed to the pullback. The pattern of flows also suggests that a significant portion of earlier allocations was tactical in nature, making them more sensitive to price movements and short-term macro cues.

Despite the sequential decline, assets under management (AUM) of gold ETFs rose to ₹1,84,571 crore at the end of May, from ₹1,78,110 crore in April-end.

Gold ETFs, which track the domestic physical gold price, are passive investment instruments that are based on gold prices and invest in gold bullion. In short, gold ETFs are units representing physical gold, which may be in paper or dematerialised form.

One gold ETF unit is equal to 1 gram of gold and is backed by physical gold of very high purity. They combine the flexibility of stock investments and the simplicity of gold investments.

Published on June 10, 2026

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Hindustan Zinc signs pact with Sulfozyme Agro to advance sustainable metal recovery

by Hansraj Agrawal | Jun 10, 2026 | Business

Vedanta group firm Hindustan Zinc on Wednesday said it has signed a pact with Sulfozyme Agro India under its Zinc Industrial Park initiative to advance sustainable metal recovery.

Under the collaboration, Sulfozyme Agro will set up its proposed operations at the Zinc Industrial Park, focused on processing zinc-based materials into value-added products for industrial and downstream applications.

Hindustan Zinc will support the venture through assured raw material linkage and long-term ecosystem support, enabling efficient operations, integrated supply chains, and scalable manufacturing within the Park’s industrial network.

The partnership also aligns with Hindustan Zinc’s broader vision of strengthening the MSME ecosystem by creating opportunities for downstream industries, local entrepreneurship, and industrial growth in Rajasthan, the company said in a statement.

Developed in collaboration with RIICO (Rajasthan State Industrial Development and Investment Corporation), Zinc Industrial Park is a dedicated downstream manufacturing hub designed to integrate raw material availability with value-added zinc production.

“Our partnership with Sulfozyme Agro reflects our commitment to strengthening the circular economy while enabling downstream value creation… Through such partnerships, we aim to accelerate industrial growth, support MSME development, and position Rajasthan as a leading destination for zinc-based industries and advanced manufacturing,” Hindustan Zinc CEO Arun Misra said.

Hindustan Zinc Ltd, a Vedanta Group company, is the world’s largest integrated zinc producer and is amongst the top 10 silver producers globally.

Published on June 10, 2026

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राजेश एक्सपोर्ट्स का महाघोटाला: दांव पर LIC के 300 करोड़! शेयर में लगा लगातार 5वां लोअर सर्किट

by Hansraj Agrawal | Jun 10, 2026 | Business

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Key points generated by AI, verified by newsroom

राजेश एक्सपोर्ट्स के शेयर लगातार 5वें दिन 5% गिरे.
सेबी ने राजस्व बढ़ाकर दिखाने, फंड डायवर्जन का आरोप लगाया.
प्रमोटर पर ट्रेडिंग प्रतिबंध, कंपनी PLI योजना से बाहर.

Rajesh Exports Share: सोना और ज्वेलरी के कारोबार से जुड़ी कंपनी राजेश एक्सपोर्ट्स के शेयरों का आज भी बुरा हाल है. आज 10 जून, बुधवार को शेयर बाजार में कारोबार के दौरान राजेश एक्सपोर्ट्स के शेयरों में आज लगातार 5वें सेशन में 5% का लोअर सर्किट लगा है.

बिकवाली के भारी दबाव के बीच शेयरों की कीमत अब टूटकर 84.66 रुपये के स्तर पर आ गई है. मार्केट रेगुलेटर सेबी के लगाए गए गंभीर आरोपों के बाद राजेश एक्सपोर्ट्स के शेयर लगातार नीचे गिरते जा रहे हैं. इसके चलते निवेशकों के अरबों रुपये डूब चुके हैं.

लगातार गिरते जा रहे शेयर

पिछले एक हफ्ते में राजेश एक्सपोर्ट्स के शेयरों में लगभग 22.6% की गिरावट आ चुकी है. एक महीने में यह 30% से ज्यादा, 6 महीने में 55% और बीते एक साल में लगभग 58% तक गिर चुका है.

शेयरों में गिरावट का यह सिलसिला तब और भी तेज हो गया, जब केंद्र सरकार के भारी उद्योग मंत्रालय की तरफ से कंपनी को एडवांस केमिस्ट्री सेल बैटरी स्टोरेज के लिए चल रही PLI स्कीम से बाहर निकाल दिए जाने की खबरें सामने आने लगीं. चूंकि ACC बैटरी का कारोबार कंपनी के महत्वपूर्ण भविष्य परियोजनाओं में शामिल है इसलिए अगर कंपनी को योजना के लिए अयोग्य माने जाने पर फैसला ले लिया जाता है, तो यह इसके लिए किसी झटके से कम नहीं होगा.

कहां से बिगड़ने लगी बात?

दरअसल, हाल-फिलहाल में सेबी ने अपने 109- पन्नों के अंतरिम आदेश में आरोप लगाया है कि कंपनी ने वित्त वर्ष 2020-21 और 2024-25 के बीच अपने रेवेन्यू को बढ़ा-चढ़ाकर 15.15 लाख करोड़ रुपया दिखाया, जो वास्तव में कंपनी की सहायक इकाइयों के कुल राजस्व का लगभग 99.8% हिस्सा था. सेबी ने कंपनी पर फंड डायवर्जन सहित संबंधित पक्षों के बीच संदिग्ध लेनदेन का आरोप लगाया. इसके बाद सेबी ने कंपनी के प्रोमोटर और चेयरमैन राजेश मेहता के शेयर बाजार पर ट्रेडिंग करने पर तत्काल प्रभाव से रोक लगा दी और कंपनी के खातों का फॉरेन्सिक ऑडिट कराने का निर्देश दिया.

एलआईसी के कितने करोड़ फंसे?

विदेशी संस्थागत निवेशकों (FIIs) की हिस्सेदारी कंपनी के शेयरों में लगातार तीन सालों से कम होती जा रही है, जो मार्च 2023 में 17.6% के मुकाबले मार्च 2026 तक घटकर लगभग 14.26% रह गई है. चूंकि राजेश एक्सपोर्ट का मार्केट कैप 3090 करोड़ रुपये है और कंपनी में एलआईसी की कुल हिस्सेदारी 10.80% है. इस हिसाब से कंपनी में भारतीय जीवन बीमा निगम का 300 करोड़ रुपये से ज्यादा का निवेश फंसा है.