Small, mid-sized NBFC-MFIs hope for a credit guarantee fund announcement in Union Budget

Small, mid-sized NBFC-MFIs hope for a credit guarantee fund announcement in Union Budget


The top 15-20 NBFC-MFIs account for about 85 per cent of the portfolio of NBFC-MFIs
| Photo Credit:
Getty Images

With just 20 days to go for the Union Budget, small and mid-sized NBFC-MFIs (non-banking finance company – microfinance institutions) are hoping that a credit guarantee scheme – mooted by the industry bodies last year for getting banks to re-open the credit tap for them – will become a reality.

It may be pertinent to mention that in August 2025, Sa-Dhan and MFIN, the Self-Regulatory Organisations (SROs) in the MFI sector, had made a pitch to the government, requesting it to put in place a ₹20,000-crore credit guarantee scheme. However, there has been no word so far from the authorities in this regard.

The aforementioned proposal was mooted as banks have turned circumspect in lending to the small and mid-sized NBFC-MFIs in the last couple of years due to multiple factors, including asset quality concerns, liquidity crunch, operational challenges, declining disbursements, and lower client retention.

Recycled lending

Due to the delay in setting up the credit guarantee scheme, the small and medium-sized MFIs are struggling as they are not able to access funding so easily, noted Jiji Mammen, Executive Director & CEO, Sa-Dhan.

“Disbursements from banks to these entities have either stopped or is very limited. Whatever recovery these MFIs make, only that can be recycled for giving fresh loans and repaying the loans taken from banks. So, ultimately, not much lending is happening. That’s the reason the overall MFI loan portfolio has come down. But, now slowly a small reversal is happening,” Mammen said.

Mammen underscored that the larger NBFC-MFIs have started becoming active as raising capital and getting bank loans isn’t an issue for them. The top 15-20 NBFC-MFIs account for about 85 per cent of the portfolio of NBFC-MFIs.

MFIN, in a November 2025 report, observed that it been advocating for the revival of the Credit Guarantee Scheme for MFIs (CGSMFI) and creation of a dedicated financing facility for the sector to address the inherent liquidity problem faced by the NBFC-MFIs.

The outstanding loan portfolio of the microfinance industry (NBFC-MFIs: 94, banks:17, small finance banks:10, NBFCs: 99, and others:65) shrunk by 15.5 per cent year-on-year to ₹3,41,947 crore, as at September-end 2025, per Sa-Dhan’s quarterly microfinance report (July-September 2025).

Published on January 11, 2026



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NxtQuantum to focus on affordable smart devices

NxtQuantum to focus on affordable smart devices


While the flip smartphone will be priced below ₹Rs.40,000, the cheapest in its category so far, TWS will cost between ₹699 and ₹5,000 and smartwatches below ₹10,000, Madhav Sheth, Founder of the company
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NxtQuantum Shift Technologies, a recently launched company, has said it will launch affordable smart devices, including a flip smartphones, TWS earbuds, tablets and smart watches over the next few months.

While the flip smartphone will be priced below ₹40,000, the cheapest in its category so far, TWS will cost between ₹699 and ₹5,000 and smartwatches below ₹10,000, Madhav Sheth, Founder of the company, told businessline.

“I am looking at expanding my product portfolio and reaching to at least 80 per cent of the consumers. That’s my first target…80 per cent of the consumers prefer to have phones below ₹25,000 in India. So, that’s my first target to have options for the consumers rather than just thinking about the market share at this point in time,” said Sheth.

He said the company was trying to create more options below ₹25,000 for the consumers from the current brands, where the brands are confusing the customers right now with multiple names, but same products.

That is why NxtQuantum Shift Technologies has launched only two products till now since August 2025 and has already sold around 1 million devices since then, including exports.

Business strategy

“We have a very clear strategy — to have a very clear product line, a non-complicated product line — ensuring that consumers in India have not been confused and their journey so far has been so good; with these two models also, we’ve been able to bring a lot of traction as a smartphone brand to address the consumer problem,” he said.

Sheth added that currently, the company is selling through online marketplace Flipkart, but is definitely expanding the market in next one year. The company is also planning to expand its export markets to West Asia and Africa, from Nepal currently.

Published on January 11, 2026



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India का Oil Masterstroke | Reliance–Venezuela Deal से बदलेगा खेल? | Paisa Live

India का Oil Masterstroke | Reliance–Venezuela Deal से बदलेगा खेल? | Paisa Live


तेल सिर्फ एक कमोडिटी नहीं, बल्कि भारत की ग्रोथ का असली एक्सीलरेटर है। Black Gold यूं ही नहीं कहा जाता, क्योंकि यही अर्थव्यवस्था का इंजन चलाता है। चुनौती यह है कि भारत अपनी 85% से ज़्यादा कच्चे तेल की ज़रूरत इम्पोर्ट से पूरी करता है, जिससे कीमतों में हल्का उछाल भी महंगाई और ग्रोथ पर असर डालता है। इसी बीच बड़ा डेवलपमेंट सामने आया है। रिपोर्ट्स के मुताबिक, मुकेश अंबानी की Reliance Industries अमेरिका सरकार से Venezuelan oil इम्पोर्ट की मंज़ूरी लेने की कोशिश कर रही है। Reliance, US State और Treasury Departments से बातचीत में है। यह कदम ऐसे समय पर है जब रूसी तेल की हिस्सेदारी घट रही है। मंज़ूरी मिली तो वेनेजुएला भारत के crude basket में मजबूत विकल्प बनेगा। यह दिखाता है कि भारत तेल के मामले में dependent नहीं, बल्कि prepared है।



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बजट 2026 की रूपरेखा तय करने में जुटी सरकार; राज्यों से मांगे गए सुझाव, जानें डिटेल

बजट 2026 की रूपरेखा तय करने में जुटी सरकार; राज्यों से मांगे गए सुझाव, जानें डिटेल


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Union Budget 2026: यूनियन बजट 2026 को आने में अब ज्यादा समय नहीं बचा है. ऐसे में आम लोगों से लेकर राज्यों तक को आगामी बजट से कई उम्मीदें हैं. केंद्र सरकार की ओर से भी इसकी तैयारियां जोर-शोर से शुरू हो चुकी हैं, ताकि सभी वर्गों की जरूरतों को ध्यान में रखा जा सके.

इसी कड़ी में केंद्रीय वित्त मंत्री निर्मला सीतारमण ने शनिवार, 10 जनवरी को नई दिल्ली में राज्यों और केंद्रशासित प्रदेशों के वित्त मंत्रियों के साथ प्री-बजट परामर्श बैठक की है. जिसमें बजट 2026 से जुड़ी प्राथमिकताओं और सुझावों पर चर्चा की गई. आइए जानते हैं, बैठक में किन मुद्दों पर चर्चा की गई….

इन मुद्दों पर हुई चर्चा

बैठक के दौरान कई राज्यों की ओर से पूंजी निवेश हेतु विशेष सहायता योजना को जारी रखने की बात कही गई. साथ ही योजना के लिए अधिक आवंटन की जरूरतों पर भी जोर दिया गया. राज्य के प्रतिनिधियों ने कहा कि, यह योजना राज्यों और विधानमंडल वाले केंद्रशासित प्रदेशों में विकास कार्यों को तेज करने में मदद कर रही है.

इसके जरिए नई परिसंपत्तियां तैयार हो रही हैं और पूंजीगत निवेश को भी मजबूत समर्थन मिल रहा है. आंकड़ों की बात करें तो, वित्त वर्ष 2020–21 से अब तक केंद्र सरकार इस योजना के लिए 4.25 लाख करोड़ रुपये से अधिक जारी कर चुकी है. 

इन राज्यों ने लिया हिस्सा

इस बैठक में दिल्ली, गोवा, हरियाणा, जम्मू-कश्मीर, मेघालय और सिक्किम के मुख्यमंत्री मौजूद रहे. वहीं अरुणाचल प्रदेश, मध्य प्रदेश, ओडिशा, राजस्थान और तेलंगाना के उपमुख्यमंत्रियों के साथ राज्यों और केंद्रशासित प्रदेशों के वित्त मंत्री और अन्य प्रतिनिधि भी बैठक में शामिल हुए. बैठक में केंद्रीय वित्त राज्य मंत्री पंकज चौधरी और मणिपुर के राज्यपाल ने हिस्सा लिया.

केंद्र सरकार की तरफ से वित्त मंत्रालय के कई वरिष्ठ अधिकारी भी बैठक का हिस्सा बने. इनमें आर्थिक कार्य विभाग, व्यय विभाग और राजस्व विभाग के सचिवों के साथ-साथ केंद्र और राज्य सरकारों के अन्य अधिकारी शामिल थे.

यह भी पढ़ें: अच्छी इनकम और क्रेडिट स्कोर के बाद भी क्यों अटक जाता है लोन? बैंक इन बातों पर भी देते हैं ध्यान, जानें डिटेल



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Censor politics: The delay of actor-turned politician Vijay’s Jana Nayagan likely to redraw TN poll alliances

Censor politics: The delay of actor-turned politician Vijay’s Jana Nayagan likely to redraw TN poll alliances


Jana Nayagan hoarding at a theatre in Chennai.
| Photo Credit:
Bijoy Ghosh

The denial of the Censor Board nod to Jana Nayagan, starring actor-turned-politician Vijay could potentially alter the political equation in the Tamil Nadu with Assembly polls three months away, and has set off various alliance possibilities, say political observers.

Jana Nayagan has been touted as the much-anticipated farewell film for Vijay, the founder of political party Tamilaga Vettri Kazhagam (TVK) who threw his hat into the TN political ring. The movie was scheduled to be released on January 9 but its release now stands indefinitely postponed due lack of censor certificate.

The film’s crew turned to the Madras High Court as a final option, with a single judge ordering the Central Board of Film Certification (CBFC) to issue a U/A certificate. The producers went on appeal, which was shot down by a two-bench and posted the next hearing for January 21, thus making the festive release no longer possible.

While Vijay’s fans are disappointed and angry, political experts say the delay will likely act as a springboard for the actor to re-start his political ambitions after it suffered a setback with the loss of lives in his rally at Karur in September.

The DMK has criticised the Central Board of Film Certification stating it has become another organisation like the ED and CBI for the Centre pegging the issue squarely as a TVK vs BJP one.Joining the issue, actor-turned-politician and Rajya Sabha MP Kamal Haasan sought a re-look at the certification process amid row over delay in release Jana Nayagan, says “film industry must engage with government bodies.”

The Congress, on its part, has also taken Vijay’s also attacked the Centre for the film’s delay, and this is expected to give the Grand Old party a better bargaining power against the DMK in seat sharing as there have been murmurs of TVK and Vijay warming up to Congress and voicing support to Rahul Gandhi on various instances.

“Vijay is an anti-Modi force and pro-Rahul force. He issued a statement condemning Rahul Gandhi arrest in the entire ‘Vote Chori’ agitation. Vijay refrained from fielding 39 candidates to safeguard the interest of Rahul inclusive alliance in the 2024 parliament elections. The emergence of Vijay as a force in TN will be beneficial to Rahul Gandhi and detrimental to Modi’s interest,” said S Raveenthran Thuraiswamy, Political Strategist.

Another source said that political alliances do not seem firmed up yet in TN before the Assembly Polls.

“The Congress had already sought more Assembly seats from its partner DMK and even Ministership in the cabinet. This, however, the DMK will not accept, leaving the Congress to join hands with TVK. If this happens, there could be a three-way fight with the DMK going with CPI/CPM, VCK, MDMK and senior Ramdoss (PMK founder) and the AIADMK-led alliance having the BJP, PMK (Anbumani Ramdoss faction), DMDK and possibly Seeman,” the political analyst said.

Another political observer said that an actor’s popularity among fans may not always turn in to votes. He cited the example of Sivaji Ganesan, who had enormous fan base but could not win even one seat when he joined hands with VN Janaki Ramachandran (wife of MG Ramachandran) in the 1989 elections. Sivaji Ganesan himself was defeated by DMK candidate Durai Chandrasekaran in Tiruvayaru seat.

Published on January 11, 2026



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