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NABARD pegs Odisha’s credit potential for 2022-23 at Rs 1.34 lakh cr

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The National Bank for Agriculture and Rural Development (NABARD) has projected Odisha’s credit potential for the financial year 2022-23 at Rs 1,34,665 crore, officials said here on Tuesday.

The credit project for the year 2022-23 is 21.61 per cent higher than the previous year’s Rs 1,10,735 crore. This was known from the NABARD’s State Focus Paper for Odisha for the year 2022-23 released here on Tuesday.

Out of the total credit potential for the priority sector, the highest amount of Rs 52,050.78 crore (38.65%) has been assessed under the agriculture sector.

Under the agriculture sector, credit flow of Rs 48,221.10 crore (92.64%) is estimated under farm credit, which comprises both crop loans and term loans for agriculture and allied activities. Besides, credit potential under agriculture infrastructure and ancillary activities has been estimated at Rs 1,824.33 crore and Rs 2,005.34 crore, respectively.

Credit potential under MSME sector has been assessed at Rs 60,001.27 crore, constituting around 44.56 per cent of the total priority sector. Other sectors consisting of export credit, education, housing, renewable energy, others and social infrastructure have around 16.79 per cent share in the total credit potential under priority sector.

Releasing the paper, Odisha finance minister Niranjan Pujari emphasised upon the need for increasing the bank credit for priority sector in Odisha as government has been pushing lot of support through various schemes like Balaram, Kalia, Samrudhi, Millet Mission, FPOs etc and it’s time for banks to increase the credit flow for private capital formation substantially.

Activities such as animal husbandry, poultry, fisheries etc., leading to asset formation and diversification of the income basket of farmers need to be credit linked, Pujari said.

Principal Secretary Finance, Vishal Kumar Dev said that the State economy could withstand the negative impact of Covid and proved its resilience. Dev indicated that a five year long term planning exercise has been commenced for a structured development of the state.

He called upon the bankers for removal of rural and urban disparity among the districts in terms of extending financial services and paving way for sustained development. Dev asked all banks to achieve the set targets and increase the bar.

Chief General Manager of NABARD, C. Udayabhaskar said that concerted efforts need to be made for achieving the set targets for the current year and increase the credit flow to the priority sector.

The NABARD has been increasing their support for the infrastructure development, tribal development, watershed development and micro entrepreneur development among SHG women and will increase the developmental activities in the State, he said.

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Meta to report child safety cases to India’s I4C cybercrime portal (Lead)

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New Delhi, Sep 15: Meta will directly report child safety matters to India’s Cybercrime portal managed by the Indian Cyber Crime Coordination Centre (I4C), the US-based technology giant said on Tuesday.

The decision comes amid heightened scrutiny of Meta in India over the alleged circulation and promotion of child sexual abuse material (CSAM) through advertisements on Instagram.

The government has said the online safety of children is a fundamental principle for every social media platform operating in India and remains non-negotiable, according to government sources. The commitment by Meta is being seen as a first step towards strengthening safeguards for children on social media platforms, they added.

Meta — in a statement on the ongoing issue — said protecting children on its platforms is a priority and that it is committed to working with the government to ensure perpetrators of such crimes are held responsible.

“To collectively strengthen our efforts to combat this harm, Meta will now report child safety matters directly to the Cyber crime portal managed by I4C,” a Meta spokesperson said.

Social media platforms can be used to circulate or facilitate access to CSAM and other forms of child exploitation.

Reporting such cases to law enforcement agencies would help ensure that such incidents are not dealt with solely through platforms’ internal content-moderation systems.

The government has stressed that more needs to be done and that discussions are continuing with other social media platforms to proactively identify and remove harmful content.

It has also warned that action could be taken against platforms that fail to adopt adequate proactive measures to protect children online.

The development comes amid growing global scrutiny of social media platforms over risks to children, including exposure to sexual exploitation, harmful content and online abuse.

In India, social media platforms are governed by the Information Technology Act and the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, which prescribe due-diligence obligations for intermediaries.

Meta had faced scrutiny after an investigation by the Tech Transparency Project (TTP) found that Facebook and Instagram carried paid advertisements featuring child sexual abuse material this year, including AI-manipulated images of real children.

The investigation also found more than 300 advertisements featuring AI-generated child sexual abuse material on Meta’s platforms.

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Indian equities open higher defying weak global cues

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Mumbai, Sep 15: Indian equity benchmarks opened higher on Tuesday despite global markets remaining under pressure amid elevated US bond yields and crude oil prices.

Sensex opened at 75,369.63, up 587.87 points or 0.79 per cent, while Nifty began trading at 23,576.15, higher by 178.05 points or 0.76 per cent. The gains were led by information technology stocks as Nifty IT index jumped more than 4 per cent, while the Nifty MidSmall IT & Telecom index rose nearly 2 per cent.

Other sectors, Nifty FMCG gained 0.72 per cent, while Nifty Auto rose 0.31 per cent. Media, energy and private banking indices were also marginally higher.

In contrast, Nifty Metal fell 0.58 per cent, while Nifty Financial Services Ex-Bank and Nifty MidSmall Financial Services declined 0.52 per cent and 0.5 per cent, respectively. Nifty Pharma fell 0.37 per cent, while cement, healthcare, consumer durables and realty indices also traded lower.

Among Nifty 50 stocks, Kotak Mahindra Bank, Grasim Industries, BEL, Shriram Finance and InterGlobe Aviation were top losers which declined between nearly 1 per cent and 1.67 per cent.

“Global equity markets will be under pressure from the US 10-year yield hitting the psychological 5 per cent mark. The macro scenario will continue to be under pressure from rising crude prices,” according to market experts.

The continuing boom in the initial public offering market and the outperformance of the broader market were also cited as positives for domestic equities, according to market experts.

On the Nifty’s technical outlook, the expert said the pullback from the 23,260-23,000 region suggested the index was attempting a swing higher after approaching oversold territory, they said.

“This mean reversion move could potentially aim for 23,720,” the experts said, while cautioning that failure to clear 23,515, or a direct fall below the 23,260-23,000 region, could bring the 22,600-21,800 range into focus.

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India‑UAE ties grow into a model for BRICS collaboration: Report

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New Delhi, Sep 14: The United Arab Emirates (UAE) and India are broadening a strategic and economic partnership that serves as “an effective model of cooperation within BRICS,” a new report has said.

The partnership is built on a foundation of historic ties, shared interests and major projects that promote trade, investment and logistics connectivity between markets, the report from Gulf Today said.

“The growing UAE-India partnership, reflected in expanding trade, increasingly integrated logistics corridors and cooperation in investment and innovation, provides a practical model of the UAE’s role within BRICS,” the report said.

Further, the partnership also proves UAE’s commitment to exchanging expertise and perspectives and building more integrated and sustainable economic partnerships.

Bilateral trade reached $101.25 billion in FY26, marking the second consecutive year in which trade between the two countries exceeded $100 billion. The UAE and India have set a target to raise bilateral trade to $200 billion by 2032.

The partnership is being advanced through initiatives such as Bharat Mart, the Virtual Trade Corridor and cooperation under the India‑Middle East‑Europe Economic Corridor (IMEC).

“These initiatives are helping strengthen supply chain integration and create new routes for trade and investment flows between the two countries and global markets,” the report noted.

The UAE-India Comprehensive Economic Partnership Agreement (CEPA), operational since 2022 was hailed as the first agreement of its kind concluded by the UAE. The agreement has bolstered the flow of goods, services and investment and expanded opportunities for the private sector in both countries.

United Arab Emirates and China were the largest destinations within BRICS, together accounting for 88.50 per cent of India’s electronics exports to the grouping.

The number of Indian companies registered as active members of Dubai Chamber reached 85,841 by the end of June 2026 after 7,579 new Indian firms joined in the first half of the year, marking a year‑on‑year increase of 15 per cent, another report said.

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