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A Belgian court on Friday ruled in favour of India’s extradition request, ordering the return of fugitive businessman Mehul Choksi to face charges in the country.The court’s decision has been seen as a strong validation of India’s case for Mehul Choksi’s extradition, officials as quoted by PTI said, though the businessman still has the option to appeal in a superior Belgian court. “The order has come in our favour. The court has termed his arrest by the Belgian authorities on India's request valid. The first legal step in getting him extradited is now clear,” a senior official told news agency PTI. Indian officials from the External Affairs Ministry and the CBI played a key role in assisting Belgian prosecutors, presenting detailed arguments on Choksi’s alleged involvement in a Rs 13,000 crore Punjab National Bank scam, orchestrated in collusion with his nephew Nirav Modi. Prosecutors told the court that Choksi continues to be a flight risk and should not be released from prison, officials added.

JSW Energy on Friday reported a 17% fall in its consolidated Q2 net profit at Rs 705 crore versus Rs 853 crore in the year-ago period. The profit after tax (PAT) is attributable to the owners of the parent. The company's revenue from operations in the quarter under review stood at Rs 5,177 crore, which was up 60% over Rs 3,237 crore in the corresponding quarter of the last financial year.The profit after tax (PAT) was also down 5% on a sequential basis versus Rs 743 crore reported in the Q1FY26, while the topline was marginally up at 0.7% on a quarter-on-quarter basis versus Rs 5,143 crore reported in the April-June quarter of FY26.JSW Energy reported Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) increase of 67% YoY to Rs 3,180 crore, primarily driven by organic renewable capacity additions and contribution from Mahanadi and O2 Power.For H1FY26, the EBITDA grew by 79% YoY to Rs 6,237 crore, the company filing to the exchanges said.Also Read: Dixon Technologies Q2 Results: Cons PAT soars 72% YoY to Rs 670 crore, revenue up 29%The PAT grew by 5% YoY in H1 FY26 to Rs 1,448 crore, while the cash PAT for the quarter increased by 27% YoY to Rs 1,512 crore, and H1FY26 Cash PAT grew by 44% YoY to Rs 3,090 crore.The company said that its balance sheet is healthy and is likely to pursue growth. The net debt-to-equity ratio stood at 2.1x.The receivables on a DSO basis stood at 64 days, while Cash & Cash Equivalents stood at Rs 6,181 crore.A credit rating of 'AA/Stable/A1+' by India Ratings and ICRA was affirmed.JSW Energy's installed capacity stood at 13.2 GW, and it added 443 MW of organic renewable capacity during the quarter.The company entered into a scheme of arrangement with GE Power India to acquire its boiler manufacturing business, securing a critical part of the equipment supply for growth in the thermal segment.(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

Union Finance Minister Nirmala Sitharaman has urged rural banks to increase agricultural credit disbursement to meet the growing demand of new rural India, while reviewing the business performance of Karnataka Grameena Bank (KaGB).According to a statement, Sitharaman chaired the meeting, attended by Department of Financial Services (DFS) Secretary M Nagaraju, NABARD Chairman Shaji K V, and other senior officials from the finance ministry on Thursday.During the review, Sitharaman assessed key indicators, including credit growth, NPAs (Non-Performing Assets), financial inclusion, and the implementation of government-sponsored schemes by KaGB.She instructed the bank to increase its share in ground-level agriculture credit disbursement, with special focus on emerging areas of the economy.Sitharaman also directed all stakeholders to take steps to realise the potential of allied agricultural activities in the region."KaGB and Canara Bank should work closely with state government departments to enhance credit disbursement to the MSME and allied sectors," the statement said.Referring to the rationalisation of GST rates, Sitharaman said it has opened new opportunities in rural areas due to rising consumption, indicating greater funding potential for banks.She nudged rural banks to leverage this opportunity to meet credit requirements in semi-urban and rural regions.Highlighting the capital needs of Farmer-Producer Organisations (FPOs), Sitharaman said, "While their capital requirements are often met by development financial institutions and government departments, their working capital needs should be fulfilled by banks." She emphasised that rural banks should upgrade products and services to suit the convenience and demand of FPOs, enabling both banks and FPOs to leverage resources for mutual benefit and sustainable rural growth.Sitharaman further pointed out that many companies are relocating services, including data centres, from tier-1 to tier-2 and tier-3 cities, and insisted that rural banks focus on such emerging areas to strengthen their financial health.She added that KaGB should focus on improving business operations to make the bank profitable and overcome challenges posed by stressed assets.Sitharaman advised KaGB and its sponsor bank to collaborate with panchayat and district-level committees to improve the screening of applications under government schemes such as PM-Vishwakarma and PMFME (Pradhan Mantri Formalisation of Micro Food Processing Enterprises).She called on KaGB to expand its presence in the Kalyana Karnataka region by opening branches in underserved areas and to enhance operational efficiency by improving asset quality, adopting new technology, and strengthening customer service delivery, the statement said.