The owner of two allegedly fraudulent COVID-19 testing labs linked to a disgraced ex-executive of Loretto Hospital pleaded not guilty Tuesday to charges he was part of a sprawling fraud scheme that siphoned more than $290 million in federal funds for testing that never occurred.
MSME lending outpaced retail and services sectors in FY25, growing by 14.1% amid overall deceleration in bank credit. The surge was supported by improved asset quality, with a decline in subprime borrowers and gross NPA ratio. Government credit guarantee schemes like CGFMU and ECLGS facilitated credit flow to vulnerable enterprises, though with higher NPA ratios.
