Category Archives: Business

Nidec Appoints Michael Briggs as Chairman and Chief Executive Officer of Business Units to Lead the Next Phase of Transformation and Growth

St. Louis, MO – Apr 10 – Nidec, a global leader in electric motors, drives, and controls powering critical industries worldwide, announced the appointment of Michael Briggs as Chairman of the Motion & Energy Business Unit and Chief Executive Officer of the Appliance & Automotive Division, effective April 1, 2026. In this role, he will oversee a global portfolio of businesses, focused on deepening customer relationships, driving performance, and advancing the company’s next phase of transformation and growth.

Michael steps into the role at a pivotal moment for Nidec, as the company continues to solidify its operating foundation, enhance governance, and position the business for long-term, sustainable growth. His appointment reflects Nidec’s commitment to disciplined execution, transparency, and the delivery of high-quality, reliable products and solutions that power critical industries worldwide.

“We are enhancing our governance framework and global management structure to reinforce accountability, improve operational discipline, and support long-term performance,” said Mitsuya Kishida, Representative Director, President, and Chief Executive Officer of Nidec. “Michael’s experience across commercial and operational strategy, combined with leading large-scale business integration, will be critical as Nidec continues to strengthen its culture and build a more resilient organization.”

Michael has been a highly impactful member of Nidec’s Executive Leadership Team, most recently serving as President of the Nidec Motion & Energy business. Prior to this role, he served as the Chief Financial Officer for the Nidec Appliance Commercial and Industrial Motor Business, and as President of Nidec Control Techniques, where he successfully led the integration of complex global operations, enabling greater alignment and agility in response to evolving industry demands.

“I’m honored to take on this role at such a defining moment,” said Michael Briggs. “Nidec is built on innovation and the strength of its people. As we move forward, our focus is to execute with excellence, strengthen trust with our customers and partners, and continue advancing the capabilities that will shape the future of Nidec.”

Nidec is a leading manufacturing organization, with deep technical expertise and a proven ability to deliver at scale. At the core of its transformation are Nidec’s people who bring a relentless commitment to quality, innovation, and customer success. The company continues to invest in its people and capabilities to deliver excellence, every day, everywhere.

Stock Markets Bounce Back in Early Trade Led by Banking Stocks

Mumbai, Apr 10 (BNP): Indian equity markets opened on a strong note on Friday, recovering from previous losses as banking stocks led the upward movement. Support from positive global market trends also boosted investor sentiment.

The benchmark Sensex surged by over 600 points in early trading, reaching around 77,260, while the Nifty 50 advanced by more than 200 points to trade close to the 23,980 mark.

Gains were largely driven by heavyweight banking and financial stocks. Shares of major lenders and financial firms, including Axis Bank, State Bank of India, and ICICI Bank, saw notable buying interest. Financial services players like Bajaj Finance and Bajaj Finserv also contributed to the rally. Meanwhile, Asian Paints was among the other prominent gainers.

The upbeat trend reflects renewed confidence among investors, supported by encouraging signals from global markets and selective buying in key sectors, particularly banking.

DCB Bank opens new branch at Adyar, Chennai

Chennai, Apr 10: DCB Bank – a leading new-generation private sector bank – today announced the opening of its new branch in Adyar, Chennai. This strategic expansion reinforces the Bank’s commitment to strengthening its presence in key urban markets while delivering superior banking experiences to customers in Tamil Nadu. 

Located in a prominent residential and thriving commercial hub of Chennai , the branch at Adyar offers a comprehensive suite of retail and business banking products and services. The branch caters to the evolving financial needs of individuals, entrepreneurs and small and medium enterprises in the micro market. 

As part of its customer-centric approach, the Bank offers flagship offerings, including the DCB Legends Account, a premium banking program customised for senior citizens, offering curated benefits, personalised services and preferential banking privileges. This includes doorstep services, the DCB Visa Platinum International Debit Card and access to exclusive healthcare benefits with Apollo Hospitals using DCB Bank cards, plus other premium benefits.

DCB Business Saver Account is the other flagship banking product. A custom bank account that enables businesses to optimise working capital and enjoy the benefits of attractive features such as competitive account balance requirement and enhanced transaction capabilities. DCB Business Saver Account is a Current Account, that has a linked Savings Bank account. This enables the auto transfer of excess funds in the Current Account to the linked Savings Bank account. The balance amount in the linked Savings account earns daily interest, maximising returns. Interest  is not paid for the amount in the Current Account. This product simplifies cash flow management for the business. 

The new Adyar branch’s range of services include products such as, Savings and Current account, Capital Gains account, DCB Fixed Deposit, Tax Saver Fixed Deposit, DCB Loans – such as, Business Loan, Mortgage and Home Loan, Loan against gold jewellery, and digital banking solutions. The Bank offers NRI banking and Trade Finance solutions too. Customers also enjoy DCB Bank’s seamless digital integration for GST and Income Tax payments, and DCB Remit – the online funds transfer abroad service, ensuring convenience alongside personalised in-branch support.

The new branch was inaugurated by Dr. Kalpana Balakrishnan, Director, Adyar Cancer Institute, and Dr. Girish Shiv Rao, President, Medical Research Foundation, Sankara Nethralaya, as chief guests, along with Mr. Balu Srinivasan, Independent Director, DCB Bank and Mr. Sridhar Seshadri, Executive Director of the Bank. 

Commenting on the latest branch launch, Mr. Sridhar Seshadri, Executive Director, DCB Bank, said, “Adyar branch inauguration marks a crucial step for DCB Bank’s growth in the Chennai region. Chennai remains a high-potential market for financial services. The Bank’s commitment to customer delight involves personal warmth and the human touch achieved from placing ourselves closer to our clients and prospective customers and offering smooth and secure digital banking options.   We look forward to customers enjoying the experience of innovative products, digital capabilities and relationship-driven service. We aim to build deeper, more meaningful customer engagement.” 

Given its steadily expanding network and strong focus on customer-first banking, DCB Bank is focused on building a robust network across India, serving diverse customer segments with bespoke financial solutions.

Tezos Ecosystem Expands Global Presence with New Entities in Dubai and Singapore

Tezos Middle East and Tezos Southeast Asia will focus on regional ecosystem development in key verticals such as gaming, capital markets, and art, with the Tezos Patronage Association helping ensure strategic alignment

Zug, Switzerland—9th April, 2026—The Tezos ecosystem is broadening its international institutional presence through new entities designed to attract builders, deepen ecosystem engagement, and incubate projects across the ecosystem. The establishment of Tezos Middle East, headquartered in Dubai International Financial Centre, and Tezos Southeast Asia, headquartered in Singapore, extends that effort into two regions with strong track records across key verticals, including gaming, DeFi, capital markets, and art. The Tezos Patronage Association (TPA) has also been established to help ensure strategic alignment across these independent entities.

Founded in 2017 and based in Zug, Switzerland, the Tezos Foundation has focused on advancing the long-term development of the Tezos ecosystem through strategic investment, research and development, and ecosystem initiatives. Tezos Middle East and Tezos Southeast Asia will complement that effort as independent entities designed to move quickly, develop domain expertise, and engage with promising projects and companies across the ecosystem. As a Swiss association, TPA will bring together major organizations focused on the growth and development of the Tezos ecosystem and help maintain strategic alignment among independent entities. In time, TPA may invite additional members to join the association, broadening participation and echoing the Tezos blockchain’s globally distributed structure.

Roman Schnider, Chairman of TPA, said, “Tezos has come a long way, from the early fundraiser to a global ecosystem powering DeFi, gaming, art, and real-world applications that benefit many. Today, we are proud to take the next step in that journey with the launch of the Tezos Patronage Association, a new Swiss industry association created to align and amplify efforts across the Tezos ecosystem, alongside new independent entities in Dubai and Singapore.

By establishing independent entities in two of the world’s most dynamic regions for blockchain development, we can engage faster, develop deeper expertise, and connect more effectively with the projects and companies shaping the future in the Middle East and Southeast Asia. For builders and partners in these regions, this means we are here, local, and ready to work with you. We are not slowing down in Europe or the US either; this is about expanding our commitment globally, one great project at a time.”

Tezos is supported by a number of organizations around the world, reflecting the ecosystem’s international scope. In addition to TPA and the entities announced today, the Tezos Foundation in Switzerland and the Digital Commonwealth Foundation (DCF) in Jersey continue to contribute to the ecosystem’s long-term development. Tezos Commons, a US-based organization, contributes community infrastructure, governance tooling, educational resources, and expertise around the Tezos protocol. While the organizations in Switzerland, Jersey, Dubai, and Singapore focus on ecosystem growth through strategic investment and ecosystem initiatives, Tezos Commons plays a distinct role in strengthening the ecosystem’s community and technical foundations.

Commenting on the launch, Arthur Breitman, co-founder of Tezos, said, “Tezos is a global ecosystem, and its institutional structure should reflect that reality. A more distributed model gives different organizations the autonomy to move quickly, develop domain expertise, and respond to opportunities as they arise. That kind of subsidiarity makes the broader Tezos effort more dynamic, more adaptable, and better positioned for long-term ecosystem growth and broader adoption.”

Rutgers and Robert Wood Johnson University Hospital Welcome Dr. Ashley Roman as New Obstetrics/Gynecology Chair

New Brunswick, NJ: Ashley S. Roman, MD, MPH, board-certified in maternal-fetal medicine (MFM) and obstetrics and gynecology (OB/GYN), will join Rutgers Robert Wood Johnson Medical School as the chair of the Department of Obstetrics, Gynecology, and Reproductive Sciences. She will also serve as chief of Obstetrics and Gynecology at Robert Wood Johnson University Hospital (RWJUH), an RWJBarnabas Health facility.

“I am pleased to announce the appointment of Dr. Roman, a nationally renowned obstetrician who specializes in caring for women experiencing complications during pregnancy, as chair of our Department of Obstetrics, Gynecology, and Reproductive Sciences,” says Amy P. Murtha, MD, dean of Rutgers Robert Wood Johnson Medical School. “Dr. Roman is an extraordinary clinician and educator who fosters an environment that supports the delivery of comprehensive, innovative, and equitable healthcare for women at every stage of life. Her clinical expertise and leadership in operational innovation make her an exceptional addition to our OB/GYN leadership team.”

Dr. Roman joins the award-winning Women’s Health team at Rutgers Robert Wood Johnson Medical School and RWJUH from NYU Langone Health, where she serves as the Silverman Professor of Obstetrics and Gynecology at the NYU Grossman School of Medicine. She is also chief of obstetrics at NYU Langone’s Tisch Hospital and vice chair of clinical affairs in Obstetrics for the health system.

“Dr. Roman is the right leader to help us expand our lifecycle services in the Women’s Health program,” said Suzanne Spernal, senior vice president, Women’s Health, RWJBarnabas Health and RWJUH. “She is joining us at a time of tremendous opportunity to conduct and participate in research that can change patient outcomes and enhance quality of life for women and families in our communities. Her reputation as a clinician, teacher and researcher will help us attract top talent to New Jersey.”

“What attracted me to Rutgers and RWJBarnabas Health is their unparalleled commitment to enhancing women’s health across all phases of life,” Dr. Roman explains. “There is a singular focus on developing innovative programs targeting significant health issues affecting pregnancy and quality of life.”

At NYU Langone, Dr. Roman led several transformative initiatives that strengthened clinical care, patient safety, and the overall experience for pregnant individuals and their families. She developed and executed the strategic plan for a comprehensive fetal diagnosis and treatment center in partnership with pediatric surgery, including a program for first trimester fetal echocardiogram; designed and launched a new independent midwifery program at Tisch Hospital; and redesigned the hospital’s obstetrical safety program, resulting in improved outcomes and a “high performance” designation from U.S. News & World Report.

Advancing Rutgers’ Legacy of Innovation

A respected educator and mentor for more than two decades, Dr. Roman has trained generations of residents, fellows, and junior faculty. She previously served as director of the division of Maternal Fetal Medicine for eight years and program director of the Maternal–Fetal Medicine Fellowship for five years at NYU Grossman School of Medicine.

“I look forward to developing new curricula to educate our future physicians, whether it’s expanding novel simulation models to assist with training or developing or identifying new rotations for residents, fellows, and medical students,” Dr. Roman says. “Here, there is a commitment to growth, world-class excellence, the people of New Jersey, and our physicians and learners.”

Dr. Roman is recognized nationally for her leadership in the field. She is an elected member of the American Gynecological and Obstetrical Society, a distinction reserved for individuals who have achieved national prominence in scholarship in obstetrics, gynecology, and women’s health. Since 2018, she has served as an oral board examiner for the American Board of Obstetrics and Gynecology’s Obstetrics Specialty Exam. She is a Fellow of both the American College of Obstetricians and Gynecologists and the New York Obstetrical Society.

A prolific researcher, Dr. Roman has authored nearly 120 peer‑reviewed publications and serves as an ad hoc reviewer for seven scientific journals, reflecting her deep commitment to advancing maternal–fetal medicine. Most recently, she worked to enhance neonatal outcomes by researching ways to identify genetic disorders, such as vasa previa, early in pregnancy. In this rare but serious complication, fetal blood vessels—normally protected within the umbilical cord or placenta—grow through the membranes directly over the cervical opening.

“When it comes to research, I have an interest in leveling the field when it comes to ensuring the best outcomes for all patients,” Dr. Roman explains. “I hope to grow Rutgers’ research mission by recruiting world-class researchers and identifying researchers of tomorrow–people fresh out of residency or fellowship who want help starting their research careers.”

Dr. Roman holds a medical degree and a master’s degree in public health with a focus on maternal and child health, both from Tulane University in New Orleans. She completed her residency in obstetrics and gynecology at UCLA Medical Center and her fellowship in maternal–fetal medicine at NYU Medical Center.

She will join Rutgers in May and will be a member of the RWJBarnabas Health Medical Group.

March 2026 Cyber Threat Landscape Shows No Relief as Ransomware Rebounds and GenAI Risks Intensify

In March 2026, global cyber-attack activity showed early signs of moderation while remaining at historically elevated levels. The average number of weekly cyber-attacks per organization reached 1,995, representing a 4% decrease month over month and a 5% decline compared to March 2025.

Despite this easing, the overall threat environment remains intense. Nearly 2,000 weekly attacks per organization continue to reflect sustained adversary pressure, driven by automation, broad attack surface expansion, and persistent exposure risks tied to cloud adoption and GenAI usage. Check Point Research data indicates that while short-term fluctuations are emerging, cyber threats have not returned to pre-surge baselines and remain a constant operational reality for organizations worldwide.

Critical Sectors Continue to Face Disproportionate Risk

The Education sector remained the most targeted industry in March, experiencing an average of 4,632 cyber-attacks per organization per week, a 6% decrease year over year. Large user populations, highly distributed access environments, and limited security resources continue to make educational institutions attractive targets, even as overall volumes decline slightly.

The Government sector ranked second, averaging 2,582 weekly attacks, reflecting a 12% year-over-year decrease. While the drop suggests some short-term relief, government organizations remain consistent targets due to mission-critical services and high-value data. Telecommunications followed closely, with organizations facing 2,554 weekly attacks, down 10% year over year, yet continuing to attract threat actors seeking large-scale disruption or supply-chain access.

An important outlier emerged in Hospitality, Travel & Recreation, which recorded a 30% year-over-year increase in attacks. As these organizations prepare for spring and summer travel surges, attackers appear to be accelerating activity ahead of peak seasonal demand, exploiting increased transactional volume, customer data exposure, and operational dependencies.

Regional Threat Disparities Remain Pronounced

Regional analysis underscores continued imbalance in global cyber pressure, with attack reductions unevenly distributed. Latin America recorded the highest attack volume globally, averaging 3,054 weekly attacks per organization, alongside a 9% year-over-year increase. Notably, Latin America was the only region to experience growth compared to February, reinforcing its position as an expanding target amid rapid digitalization.

APAC followed with 3,026 weekly attacks, reflecting a 4% year-over-year decline, while Africa averaged 2,722 attacks, experiencing the sharpest reduction at -22% year over year, though remaining among the most targeted regions overall.

Europe and North America both recorded moderate year-over-year declines, yet continue to face substantial baseline attack volumes, reinforcing that even mature markets are not immune to sustained cyber pressure.

GenAI Usage Continues to Elevate Data Exposure Risk

Enterprise GenAI adoption remained widespread throughout March 2026, intensifying data leakage risk despite reductions in overall attack volumes. Key GenAI exposure indicators in March include:

• 1 in every 28 GenAI prompts posed a high risk of sensitive data leakage
• 91% of organizations using GenAI tools regularly were impacted by this risk
• An additional 17% of prompts contained potentially sensitive information
• Organizations used an average of 9 different GenAI tools, signaling fragmented adoption
• The average enterprise user generated 78 GenAI prompts per month 

While GenAI usage expanded, the proportion of high-risk interactions increased compared to February, highlighting persistent governance and visibility gaps. Without centralized controls, organizations remain vulnerable to credential leakage, intellectual property exposure, internal data mis-sharing, and unintended third-party risk amplification.

Ransomware Activity Rebounds Month Over Month

In March 2026, 672 ransomware attacks were reported globally. This represents an 8% decrease year over year, yet a 7% increase compared to February, indicating renewed attacker momentum following short-term declines earlier in the quarter.

North America remained the most affected region, accounting for 55% of reported incidents, followed by Europe at 24% and APAC at 12%. Europe’s share rose significantly from 17% in February, suggesting a rebalancing of attacker focus toward high-value EU targets.

*This data is derived from ransomware “shame sites” operated by double-extortion groups. While inherently biased, these sources provide valuable insight into ransomware operations and trends.

Ransomware Targets Concentrate on High-Impact Industries

Business Services remained the most targeted sector, accounting for 35% of ransomware victims, followed by Consumer Goods & Services (14%) and Industrial Manufacturing (13%). Together, the top three industries represented 61% of all reported ransomware incidents, underscoring attackers’ focus on sectors where downtime and data exposure translate directly into financial leverage.

The mid-tier cluster, including Financial Services, Government, and Healthcare & Medical—accounted for a combined 14% of victims, with each sector increasing its share compared to February, signaling broader distribution beyond traditional ransomware strongholds.

Ransomware Attacks per Country

Country-level analysis shows ransomware activity remains heavily concentrated in North America but continues to span multiple continents. The United States accounted for 51.8% of reported attacks, followed by Germany (4.8%), France (4.5%), and the United Kingdom (3.7%).

The top impacted countries span North America, Europe, Asia, and Latin America, reinforcing ransomware’s global reach despite regional concentration.

Leading Ransomware Groups Expand Their Influence

Ransomware activity in March remained fragmented yet dominated by a small number of high-output groups. Qilin led activity, responsible for 20% of published attacks, followed by Akira (12%) and DragonForce (8%). While the top three accounted for 40% of incidents, a total of 47 different ransomware groups publicly impacted organizations worldwide last month.

• Qilin: One of the most established ransomware-as-a-service (RaaS) operations, active since 2022. Formerly known as Agenda, Qilin operates a mature affiliate ecosystem with Rust-based encryptors, negotiation infrastructure, and dedicated support services. Since early 2025, the group has significantly expanded affiliate recruitment and victim disclosures.
• Akira: First observed in 2023, Akira targets Windows, Linux, and ESXi systems. The group has increasingly focused on business services and industrial manufacturing, deploying a Rust-based ESXi-focused encryptor with selective VM targeting and sandbox evasion mechanisms.
• DragonForce: A RaaS group operating a white-label “cartel” model allowing affiliates to run independent brands atop shared infrastructure. DragonForce’s activity accelerated in March, following absorption of displaced RansomHub affiliates and high-profile social engineering campaigns targeting major UK retailers. 

What March’s Trends Reveal About the Threat Landscape

March 2026 suggests that cyber threats are entering a phase of compressed volatility rather than sustained escalation. Overall attack volumes declined modestly, yet ransomware activity rebounded month over month, GenAI-driven exposure intensified, and targeted sector pressure shifted rather than disappeared.

At Check Point Software, our research shows that temporary declines do not signal reduced risk. Attackers continue refining precision, timing, and targeting, exploiting seasonal cycles, emerging technologies, and operational blind spots. In this environment, reactive security models remain insufficient. A prevention-first, AI-driven, multi-layered security strategy—spanning cloud, network, endpoint, and user environments—is essential to controlling exposure and building long-term cyber resilience. Staying ahead now requires anticipating attacker behavior, not merely responding to incidents after impact.

Odisha’s Textile Boom Creates Thousands of Jobs, Drives Industrial Growth

Bhubaneswar, Apr 9 (BNP): Odisha is witnessing a major boost in its textile and apparel industry, with significant investments creating thousands of new employment opportunities. A recently inaugurated project, with an investment of around ₹750 crore, has already generated jobs for over 5,800 youth. On Wednesday, the foundation stone for another unit of Page Industries was laid in Bhubaneswar, with a ₹258 crore investment expected to create 3,500 more jobs. The ceremony also marked the inauguration of an MAS India clothing factory in Bhubaneswar.

 Pic Credit: Pexel

The Chief Minister highlighted that the state government is focusing on weaving and apparel industries, where relatively low investments can generate high employment, especially for women. By promoting skill development, industrial growth, and women’s empowerment, Odisha aims to establish new apparel units across districts like Khordha, Cuttack, and Ganjam, boosting the local economy.

During the event, the Chief Minister interacted with young professionals from Salepur and Mayurbhanj working in Tamil Nadu’s textile industry to understand their expertise and work practices. The Minister of Handlooms, Textiles, and Handicrafts, Pradeep Bal Samant, appreciated the government’s commitment to leveraging industry for job creation and skill development, calling Odisha’s textile growth a “golden chapter” in the state’s industrial progress.

Officials added that with multiple investment proposals amounting to nearly ₹7,800 crore under active consideration, the state is accelerating the expansion of its textile and apparel sector, creating opportunities for local talent, reducing unemployment, and positioning Odisha as a hub for sustainable industrial growth.

FSSAI Steps Up Food Safety, States Strengthen Inspections

New Delhi, Apr 9 (BNP): The Food Safety and Standards Authority of India (FSSAI) intensified its monitoring efforts in 2025-26, conducting nearly 3.97 lakh inspections across food businesses nationwide.

 Pic Credit: Pexel

In partnership with state authorities, the agency tested 1,65,747 food samples up to the third quarter, finding 17.16% of them non-compliant with safety standards. These violations triggered swift regulatory and legal action to protect consumers.

State governments are actively supporting the enforcement drive, stepping up inspections, awareness campaigns, and guidance for food producers and retailers. Officials said the combined efforts aim to ensure safer food practices, improve compliance, and build public trust in food quality.

FSSAI’s strengthened approach highlights the government’s commitment to public health, encouraging businesses to prioritize hygiene and quality while maintaining accountability across the food supply chain.

Africa Rising Music Conference announces Australia focus and PRS Foundation backing for its most internationally connected edition yet

Tickets
Location: Johannesburg, South Africa
Dates: 22nd – 23rd May, 2026

Uganda joins as second focus country as ARMC 2026 draws delegations from the UK, US, Germany, Sweden and Australia ahead of its Johannesburg return this May

Africa Rising Music Conference (ARMC) returns to Johannesburg on 22nd & 23rd May 2026 for its sixth edition, now backed by the PRS Foundation for the third time and welcoming Australia and Uganda as official focus countries for the first time. Bringing together artists, executives and cultural leaders from across Africa, Europe, the Americas and beyond, ARMC has established itself as the continent’s leading platform for cross-continental music industry dialogue.

A major focus for 2026 is the introduction of Australia and Uganda as official focus countries and bringing curated delegations of artists, executives and cultural leaders into the programme. The Ugandan delegation, led by Amplify Ugandan Music Expo (AUMEX), builds on connections formed at previous editions, while Australia’s inclusion signals ARMC’s growing ties beyond the African continent. Additional delegates from the UK are supported by the PRS Foundation while more from Germany, the United States and Sweden further strengthen the conference’s global reach.

With a growing network of international partners, delegates and speakers, ARMC 2026 is a key platform for cross-continental collaboration that spotlights emerging scenes while connecting them to established global markets. This year sees new strategic partnerships including with the Southern African Music Rights Organisation (SAMRO) alongside expanded international participation.

The speaker programme reflects this international outlook, with newly announced headline names including Grammy‑Recording Academy‑inducted producer and award‑winning artist TRESOR, alongside Janesh, Hitboss SA and Brenda Mtambo. Together, they represent a cross-section of artists and industry leaders shaping contemporary African music while engaging with global audiences through songwriting, production and cultural exchange.

Alongside its core programme, ARMC has introduced a Community Access Pledge in partnership with Bridges for Music, shesaid.so South Africa, The Cradle Crew and BTCH$ LUV – enabling brands and organisations to donate tickets distributed to aspiring artists and entrepreneurs who would otherwise be unable to attend.

As African music continues to gain global prominence, ARMC positions itself at the centre of that momentum by bridging scenes, industries and cultures through dialogue, collaboration and live experience. Further speaker and programme announcements are expected in the coming weeks. Phase 2 tickets are on sale now via Quicket.

Government Considers Relief for MSMEs Affected by West Asia Crisis

Apr 9: The government is planning relief measures to help micro, small, and medium enterprises (MSMEs) facing financial stress due to the West Asia conflict.

Authorities may ask the Reserve Bank of India to extend timelines for classifying loans as Non-Performing Assets (NPAs) and Special Mention Accounts (SMAs). This would give businesses more time before their loans are marked as stressed or bad.

 Pic Credit: Pexel

During the COVID-19 pandemic, a similar step was taken, extending the NPA period from 90 days to 180 days. The government is considering doing something similar now to support MSMEs.

MSMEs are an important part of India’s economy, contributing about 30% to the GDP, 35% of manufacturing output, and nearly 45% of merchandise exports. Many MSME borrowers have approached banks seeking relief, and officials say timely action is needed to prevent short-term problems from becoming long-term challenges.

The plan is part of a larger ₹2.5 trillion relief package, including credit guarantees, to help MSMEs stay strong during global uncertainties.