Business
Export credit boost: Banks clear Rs 3,362 crore under CGSE in first month; 774 exporters covered – The Times of India
Lenders have sanctioned Rs 3,361.83 crore to 774 applicants under the Rs 20,000-crore Credit Guarantee Scheme for Exporters (CGSE) within a month of its rollout, as the government steps up support for exporters facing headwinds from steep US tariffs, official data showed as reported PTI.The scheme, approved by the Union Cabinet on November 12 and made operational from December 1, 2025, provides 100 per cent credit guarantee cover by the National Credit Guarantee Trustee Company Ltd (NCGTC) to member lending institutions (MLIs) for extending additional credit facilities of up to Rs 20,000 crore to eligible exporters, including MSMEs.“Applications worth Rs 8,764.81 crore (1,840 applications) received, out of which Rs 3,361.83 crore (774 applications) sanctioned by the lenders” till January 2, 2026, the Department of Financial Services (DFS) under the finance ministry said in a statement.Implemented by the DFS, the CGSE aims to enable banks and financial institutions to extend additional financial assistance to Indian exporters during a period of external trade uncertainties, helping them diversify markets and enhance global competitiveness. The scheme will remain valid till March 31, 2026, or until guarantees worth Rs 20,000 crore are issued, whichever is earlier.The DFS also highlighted progress under the Mutual Credit Guarantee Scheme for MSMEs (MCGS-MSME), which offers credit guarantees to incentivise MLIs to provide additional credit facilities of up to Rs 100 crore to MSME borrowers for the purchase of plant, machinery and equipment. As of December 2025, banks have sanctioned Rs 16,836 crore against 8.96 lakh applications under the scheme.Sharing broader banking sector performance, the DFS said scheduled commercial banks (SCBs) recorded their highest-ever aggregate net profit of Rs 4.01 lakh crore. Public sector banks (PSBs) posted a record aggregate net profit of Rs 1.78 lakh crore in 2024-25, while their net profit stood at Rs 0.94 lakh crore in the first half of 2025-26.Global deposits and advances of PSBs rose to Rs 146.27 lakh crore and Rs 114.85 lakh crore, respectively, in September 2025, compared with Rs 71.95 lakh crore and Rs 56.16 lakh crore in March 2015.The gross non-performing assets (GNPA) ratio of PSBs declined to 2.30 per cent (Rs 2.65 lakh crore) in September 2025, down from 4.97 per cent (Rs 2.79 lakh crore) in March 2015 and a peak of 14.58 per cent (Rs 8.96 lakh crore) in March 2018. The capital adequacy ratio of PSBs improved by 451 basis points to 15.96 per cent in September 2025 from 11.45 per cent in March 2015.
Business
Anthropic’s new AI model exposes fresh risks, flaws for cybersecurity, IT services – The Times of India
New Delhi: A powerful new AI model is forcing govts, banks, and technology firms to rethink the rules of cybersecurity – and in India, the stakes may be even higher.Claude Mythos, developed by Anthropic, has demonstrated the ability to autonomously detect and exploit software vulnerabilities, including flaws that have persisted for decades. Early tests revealed that the model could identify long-standing weaknesses and simulate complex, multi-step cyberattacks, prompting the company to restrict its wider release. Anthropic CEO Dario Amodei highlighted the shift, noting that AI systems are now capable of finding vulnerabilities “that humans have missed”, a signal of how quickly the cybersecurity landscape is changing.US Treasury Secretary Scott Bessent reportedly convened a meeting with top bank executives – including leaders from JPMorgan Chase, Goldman Sachs, Citigroup, BoA, and Morgan Stanley – to assess the risks posed by such advanced AI systems.That concern is not theoretical. According to Jaydeep Singh, GM for India at Kaspersky, the emergence of such systems represents a turning point not just for security professionals, but for everyday users. “We have been closely monitoring how AI is reshaping the threat landscape, and Claude Mythos represents a moment that every user, not just the cybersecurity industry, needs to understand,” Singh said.The dual-use nature of AI is at the heart of the concern. The same capability that strengthens defences can just as easily be weaponised. “The same capability that finds a 27-year-old vulnerability in hardened infrastructure is the capability that, in the wrong hands, turns every unpatched system into an open door,” Singh added.Cybersecurity firm Check Point Software Technologies echoed the warning. Sundar Balasubramanian, MD, India and South Asia, for Check Point, says, AI is “dramatically lowering the barrier to entry for cyber attackers,” enabling even less-skilled actors to identify and exploit vulnerabilities. He added that defensive tools can be repurposed offensively, compressing the traditional gap between attackers and defenders. Jayant Saran, partner, Deloitte India, described this as a “changed reality,” where organisations must prepare for risks that were previously invisible. He called AI a “double-edged sword…that cannot be reversed,” highlighting an accelerating race between those securing systems and those attempting to break them.In India, the risks are amplified by scale. From UPI to banking and govt platforms, millions depend on digital infrastructure – much of it built on legacy systems. These systems are often slower to patch, harder to monitor, and lack continuous threat intelligence, creating what Saran called an “asymmetric risk exposure.” Singh pointed out that this gap is especially critical in India, where legacy infrastructure serves hundreds of millions.Beyond cybersecurity, ripple effects could reach financial markets. Analysts say models like Mythos could automate parts of software development, testing, and security – core functions of IT services industry. While disruption may be gradual, labour-intensive outsourcing models could face pressure, while firms embracing AI may benefit.
Business
Could a digital twin make you into a ‘superworker’?
Firms say digital twins make staff more productive, but are they a potential legal minefield?
Source link
Business
Netflix co-founder Reed Hastings to step down as chairman
Hastings set up the company in 1997, when it rented DVDs to customers and delivered by post.
Source link
-
Entertainment1 week agoQueen Elizabeth II emotional message for Archie, Lilibet sparks speculation
-
Tech1 week agoAzure customers up in arms over ‘full’ UK South region | Computer Weekly
-
Tech1 week agoAs the Strait of Hormuz Reopens, Global Shipping Will Take Months to Recover
-
Fashion1 week agoCII submits 20-pt agenda to Indian govt to back firms hit by Iran war
-
Tech1 week agoThis AI Button Wearable From Ex-Apple Engineers Looks Like an iPod Shuffle
-
Politics7 days agoIndian airlines hit hardest after Dubai limits foreign flights until May 31
-
Politics7 days agoChinese, Taiwanese will unite, Xi tells Taiwan opposition leader
-
Entertainment4 days agoPalace left in shock as Prince William cancels grand ceremony
