• India's inflation likely fell to a four-month low in March: Poll 09 Apr 2020 06:12 BENGALURU: India's retail inflation is expected to have dropped to a four-month low in March on softer food and fuel prices and as already slowing demand likely plummeted due to a nationwide lockdown towards the end of the month, a Reuters poll found. …
  • Virus crisis is a chance for India to finally reform its economy 09 Apr 2020 06:12 By Anirban Nag and Subhadip Sircar A looming economic crisis triggered by the coronavirus pandemic is a chance for India to enact sweeping reforms to fix ailing sectors and attract more foreign investment to the country. That’s a call being made by a …
  • Mukesh Ambani with $44bn top Indian in Forbes world billionaires’ list 09 Apr 2020 06:07 New Delhi, April 9 (IANS) Reliance Industries’ Chairman Mukesh Ambani has been ranked 17th in the latest world billionaires list by Forbes with a net worth of $44.3 billion – once again leading the tally from Indias perspective. Mukesh Ambani chairs and …
  • India's inflation likely fell to four-month low... 09 Apr 2020 05:56 India's retail inflation is expected to have dropped to a four-month low in March on softer food and fuel prices and as already slowing demand likely plummeted due to a nationwide lockdown towards the end of the month, a Reuters poll found. Price …
  • Indian Fintech Aye Finance Secures $23.8 Million in Debt Funding within 15 Days from Major Local and International Investors 09 Apr 2020 05:07 April 8, 2020 @ 8:16 pm By Omar Faridi Capital G-backed Aye Finance, a leading Fintech lender, has reportedly secured INR 180 crore (appr. $23.8 million) in debt funding in the past 15 days from several major firms in India and investors located abroad. …
  • Stocks to watch: Titan, Marico, IDBI Bank, HDFC Bank, Cipla, Future Group 09 Apr 2020 04:45 At 08:42 am, Nifty futures on the Singapore Exchange (SGX) were trading 117 points or 1.34 per cent higher at 8,867.80, indicating a positive start for the Indian market on Thursday. Here's a look at the top stocks that may remain in focus today - …
  • Reserve Drawdown of $105 Billion Signals Emerging Currency Risk 09 Apr 2020 04:00 (Bloomberg) -- The decade-long surge in foreign-exchange reserves among emerging markets is coming to an end, highlighting the danger posed by future currency depreciation. China’s holdings fell by $46.1 billion in March, the most since late 2016, official …
  • OPINIONISTA: South Africa must get growth going, or face economic disaster 08 Apr 2020 23:40 A thousand years ago, a Chinese official wrote in a policy memorandum: “The country has become like a broken-down dwelling: fix the main beam, and the corner gives way; repair the rafters, and the ridgepole falls down. Though you prop it up and support it …
  • ‘India’s GDP growth to plunge to 1.6% in FY21; world faces recession’ 08 Apr 2020 23:33 According to the banking group, the three-week nationwide lockdown — expected to be removed only in a staggered fashion — and social distancing measures will reduce new infections over the next 4-6 weeks. (File Photo/Representational) Global banking …
  • India, US in talks for dollar swap line to strengthen macro outlook 08 Apr 2020 23:32 According to Reserve Bank of India (RBI) data, 63.7 per cent of India’s foreign currency assets — or 6.17 billion — is invested in overseas securities, mainly in the US treasury. India is working with the United States to secure a dollar swap line that …
  • Gold ticks up as coronavirus worries deepen, Fed minutes eyed 08 Apr 2020 21:50 Gold edged higher on Wednesday as the rising coronavirus death toll hammered risk sentiment, while investors were waiting for the release of the US Federal Reserve's policy meeting minutes for clues on further stimulus measures. Spot gold was up 0.1% …
  • RBI to examine buyback of outstanding amount of Rs 84,574 cr in AT-1 bonds 08 Apr 2020 21:29 The Reserve Bank of India (RBI) would examine the buyback of the outstanding amount of Rs 84,574 crore in additional tier-1 (AT-1) bonds issued by banks at par, and a ban on retail investments in them, directly and through mutual funds. These measures …
  • RBI tells HDFC Bank to review two key board appointments 08 Apr 2020 21:25 In November last year, the bank had initiated the appointment of Sashidhar Jagdishan and Bhavesh Zaveri as additional directors and executive directors of the bank, subject to RBI and shareholder approval. “We are now in receipt of a communication dated 7 …
  • Coronavirus impact: Centre's borrowing won't be cheap this time 08 Apr 2020 21:21 The prospect of cheap borrowing is fading fast for the government, which will hold an auction of Rs 19,000 crore on Thursday, this fiscal year. Wary of supply, bond dealers asked for sharp increase in rates from state governments during Wednesday’s auction …
  • RBI asks HDFC Bank to submit proposal on two appts after new CEO takes over 08 Apr 2020 20:07 MUMBAI: The Reserve Bank of India has directed HDFC Bank to keep in abeyance the appointment of two directors from among its executives saying that the choice of candidates should be left to the incoming chief executive. The bank had proposed the …
  • Rupee slides 70 paise to record low of 74.34 against dollar 08 Apr 2020 18:21 The rupee plunged by 70 paise to its life-time low of 76.34 against the US dollar on Wednesday as a rise in coronavirus cases in the country fanned fears of the government extending the lockdown to contain the pandemic. Forex traders said rising Brent …
  • RBI's forex move could shift overseas trades to India 08 Apr 2020 18:13 MUMBAI: The Reserve Bank of India’s (RBI) move to open up trading in foreign exchange derivative products for all investors at home may not find takers immediately in view of the coronavirus crisis, but the bold step could help shift the centre of gravity …
  • Coronavirus impact: Fin Min allows states to borrow Rs 3.2 trn from market 08 Apr 2020 17:42 The Finance Ministry on Wednesday allowed open market borrowing for states up to a cumulative Rs 3.2 trillion from the market between April-December. The move comes states demanded more funds to meet expenses in dealing with the coronavirus pandemic. In a …
  • Lockdown: Large retail-focused NBFCs facing cash flow difficulties; debt servicing a challenge 08 Apr 2020 17:18 Mumbai: Nearly a dozen of large retail-focused non-banking finance companies (NBFCs) may need around Rs 10,000-20,000 crore of funds over the next few months for servicing their debt obligations and to run their operations, says a report. Due to the …
  • India Inc seeks urgent stimulus package worth Rs 9-Rs 11 lakh cr (Roundup) 08 Apr 2020 17:15 New Delhi, April 8 (IANS) India Inc has requested the Centre to immediately institute a stimulus package ranging from Rs 9 to Rs 11 lakh crore to mitigate the impact of Covid-19 outbreak. Accordingly, several leading industry bodies including CII, Ficci, …
  • Funds squeezed states pay a steep price 08 Apr 2020 16:58 MUMBAI: State governments’ borrowing costs surge as many investors drop out of bond auctions due to lockdown and fears that there could be a surge in their borrowings in coming months as they are squeezed by sliding revenues and higher expenses to treat …
  • Irdai grants 3-month moratorium on term loans sanctioned by insurers 08 Apr 2020 15:55 Following in the footsteps of the Reserve Bank of India, the Insurance Regulatory and Development Authority of India (Irdai) has said insurers can grant a moratorium of three months towards payment of installments of term loans sanctioned by them falling …
  • Govt unlikely to grant any package for industry to pay workers' salaries 08 Apr 2020 15:55 Lack of fiscal space will pose a big hurdle for the Centre to announce grants for industries to pay wages of employees unable to work due to the coronavirus (Covid-19) pandemic, according to multiple people in the know. In the past few days, industry …
  • India needs to beef up its fiscal response to COVID-19, say industry bodies 08 Apr 2020 15:39 Express News Service NEW DELHI: India's fiscal response to COVID-19 is inadequate and the country needs a stimulus package of $200-300 billion (about ₹15-22 lakh crore) over the next 12-18 months to weather the impact of the pandemic, say industry …
  • Cash payment company CMS to offer cash at doorstep to senior citizens 08 Apr 2020 14:25 Mumbai: To deal with social distancing and address the cash withdrawal concerns from banks and ATMs, following the RBI directive, cash and payments solution CMS is offering free doorstep cash delivery service to help senior citizens and disabled get cash …
  • Will trading of rupee NDF on GIFT curb volatility? 08 Apr 2020 13:59 When RBI Governor Shaktikanta Das held the mid-term policy press conference in late March, to address the Covid crisis, he slipped in an interesting measure towards the end. He said that the time was apt to improve efficiency of price discovery in the …
  • Finance Ministry allows states to borrow Rs 3.2 lakh crore from market amid coronavirus pandemic 08 Apr 2020 12:49 By PTI NEW DELHI: The Finance Ministry has allowed all states to borrow a cumulative Rs 3.20 lakh crore from market between April-December. The move comes amid states' demand for higher funds from the Centre to meet the expenses in dealing with COVID- …
  • Morning View - European Metal Holdings and more... 08 Apr 2020 12:15 European Metal Holdings (AIM:EMH) 9.9p, Mkt Cap £14.7m – CEZ investment European Metals Holdings reports that it is issuing a formal notice of a shareholder meeting, to be held on 23rd April, to consider the proposed €29.1m investment by one of Central and …
  • Liquidity problem should not turn into a solvency issue: Abhimanyu Munjal 08 Apr 2020 11:29 How has the lockdown affected your business? The lockdown is going to create a lot of new norms. We are all working from home and probably working much longer hours and more efficiently than before. So, the lockdown is going to have a lot of positives in …
  • Corona letter: Is diarrhoea a symptom of Covid-19? 08 Apr 2020 11:21 The central government of India is in discussions with the states on how best to lift the restrictions after April 14, when the 21-day nationwide lockdown ends. Reports say India is likely to do so in phases, lifting restrictions in districts with no or a …
  • Bond investors to test India's yield comfort in first auction of year 08 Apr 2020 10:56 MUMBAI, April 8 (Reuters) - Indian bond markets are set to demand punishing high yields at the federal government’s first auction of the fiscal year on Thursday as they test both the government’s ability to pay as well as the central bank’s intent to cap …
  • Rupee settles 70 paise lower at 76.34 against US dollar 08 Apr 2020 10:23 By PTI MUMBAI: The Indian rupee settled 70 paise lower at 76.34 (provisional) against the US dollar on Wednesday amid rise in coronavirus cases in the country and weak domestic equities. Forex traders said rising brent prices and firm US dollar index also …
  • Coronavirus impact: Investor outreach programmes see spike in March 08 Apr 2020 09:46 The number of times companies communicated with investors and analysts through meetings, calls, and presentations saw a surge as the coronavirus (Covid-19) took hold of the economy. The latest numbers (for March) were the highest in the five years, for …
  • Time to have faith in SIPs more than ever before: Ashwani Bhatia 08 Apr 2020 09:33 At what stage do you think we might start to see investors spooked enough to relook or redeem those SIPs? Are you starting to feel that pressure yet? What is the latest on that front? SIPs are holding up. We have not seen any request for stopping the SIPs. …
  • View: India can’t count on banks to lead virus recovery 08 Apr 2020 09:31 Mihir Sharma The world’s largest lockdown is, as expected, taking a toll on the Indian economy. Fitch Ratings Inc. expects that India will grow only 2% in the current financial year. That would be the lowest rate in decades, a level not seen since this …
  • SBI dips 3% post deposit rate cut, Uttam Galva loan default; recovers later 08 Apr 2020 08:11 Shares of State Bank of India (SBI) slipped 3.2 per cent to Rs 180.45 on the National Stock Exchange (NSE) on Wednesday after the bank slashed its marginal cost-based lending rate (MCLR) by 35 basis points across all tenors. On Tuesday, India's largest …
  • ASSOCHAM recommends stimulus package of $200 to $300 billion to tide over the COVID-19 challenges 08 Apr 2020 08:06 Apex industry body, ASSOCHAM has recommended a 16 point agenda and a stimulus package of at least $200-$300 billion to thwart one of the deepest global recession expected in the world’s history, states its secretary-general, Deepak Sood. According to Sood, …
  • (LATEST) South Africa's Covid-19 cases rise to 1,749 with 13 confirmed deaths 08 Apr 2020 07:56 Health Minister Zweli Mkhize on Tuesday afternoon said the number of Covid-19 infections in the country had increased by 63 overnight. 7 April 2020 On Tuesday afternoon the Health Ministry confirmed that the number of confirmed coronavirus cases in South …
  • Should you opt for three-month moratorium for debit card EMIs? 08 Apr 2020 07:53 Over the past one week, banks have come out with details on how customers can opt for the three-month moratorium on term loan equated monthly instalments (EMIs) and credit card dues. According to the Reserve Bank of India (RBI), the deferred loan …
  • Tracking government’s steps to contain economic fallout of the coronavirus 08 Apr 2020 07:38 The Centre and the Reserve Bank of India are trying to cushion an economy that was slowing even before the coronavirus outbreak. Here’s a guide to the measures announced so far: For Banks: CHEAPER CASH: A series of steps announced this year aim to …
  • Coronavirus and cybercrimes: Opting for EMI moratorium? Fraudsters are waiting 08 Apr 2020 07:37 At a time when many people in the country are facing financial troubles due to the lockdown, the government and entities like the Reserve Bank of India (RBI) have come out with various relief measures. One such measure that the RBI announced was the three- …
  • Domestic steel consumption estimated to grow at 2%-2.5% in 2020 08 Apr 2020 07:14 KOLKATA: Domestic steel consumption is estimated to grow at 2%-2.5% in 2020, down from a 7.5% consumption growth in FY19, despite the 21-day lockdown to prevent the spread of coronavirus that will hurt steel sales in March and April, global ratings agency …
  • Covid-19 outbreak: NBFCs face twin challenges of debt repayment, cash shortage 08 Apr 2020 04:38 Mumbai: Non-banking finance companies (NBFCs) are on the edge with commercial paper worth ₹1.6 lakh crore and nonconvertible debentures (NCDs) worth ₹87,000 crore coming up for redemption by June as cash flows dwindle and banks play hardball on extending …
  • Kotak, HDFC Banks report surge in Q4 deposits, advances 08 Apr 2020 04:24 Mumbai: Private sector lenders HDFC Bank and Kotak Mahindra Bank outperformed their peers on deposits and advances in the March quarter that was marked by flight of deposits, beginning of a national lockdown to combat Covid-19 and a regulatory moratorium …
  • Masala bonds less palatable after rate cut 08 Apr 2020 04:14 Mumbai: The 75-basis-point emergency interest rate cut by the Reserve Bank of India late in March has taken the shine off Masala Bonds — an offshore rupee-denominated debt instrument — for foreign investors. While the lower coupon rate on these bonds after …
  • 28 states cleared to borrow up to Rs 3.2L crore 08 Apr 2020 02:34 New Delhi: The central government has allowed 28 states to cumulatively borrow up to Rs 3.2 lakh crore from the open market in the first nine months of this fiscal year. This means the states could borrow the total amount in April itself if required, to …
  • 'No economic activity will cost India $120 billion' 08 Apr 2020 01:07 'We believe there will be a full shutdown for four weeks and a partial shutdown for eight weeks.' 'Hence, economic activity is unlikely to normalise before the end of May.' IMAGE: Cargo operations at Bengaluru airport, April 2, 2020. Photo: …
  • Cash-starved and desperate, states borrow at steep rate in lockdown 07 Apr 2020 20:37 State governments on Tuesday paid a steep price to borrow Rs 32,560 crore from the bond market to raise funds, desperately needed to fight a lockdown-induced slowdown, even as investors engaged in a negative bidding strategy to preserve their liquidity at …
  • States can borrow Rs 3.2 trillion in April-Dec after discussions with RBI 07 Apr 2020 20:37 The Centre has allowed states to borrow 50 per cent of their 2020-21 combined borrowing limit in April-December, according to a finance ministry letter to the Reserve Bank of India (RBI). The letter was put up on the expenditure department’s website on …
  • RBI increases overdraft period of states, UTs until September 30 07 Apr 2020 20:37 To provide greater flexibility to state governments to tide over cash flow mismatches, the Reserve Bank of India (RBI) on Tuesday increased the number of days for which a state or a Union Territory (UT) can be in overdraft at a stretch to 21 working days …
  • NBFC-MFIs seek clarity from RBI on 3-month moratorium on loans 07 Apr 2020 20:28 Non-banking financial companies operating as microfinance institutions (NBFC-MFIs) have sought clarity from Reserve Bank of India (RBI) on whether they are eligible for the three-month moratorium on loan repayments announced by the central bank on March 27 …
  • Will RBI react to MFIs' distress call? 07 Apr 2020 20:12 KOLKATA: The Reserve Bank of India (RBI) appears to have swung into action as microfinance firms pressed the panic button over liquidity mismatches after several banks refused to pass on the moratorium benefit to them. Besides, about 90% of the MFIs with …
  • Covid-19 relief: Lenders want SBI to include NBFCs under moratorium 07 Apr 2020 19:58 MUMBAI: Several lenders are trying to convince the trade big daddy State Bank of India (SBI) to cover non-banking finance companies (NBFCs) under the moratorium announced by the regulator as part of the COVID-19 relief package. The moratorium allows …
  • Lockdown impact on jobs: Unemployment rate in India at an all-time high of over 23%, worst in 43 months 07 Apr 2020 17:37 The RBI is reportedly likely to infuse Rs 1 trillion into the economy With the Covid-19 pandemic plaguing global markets, the unemployment rate in India soars to an all-time high of 8.7 percent in March, worst in the past 43 months. Also, the labour …
  • SBI cuts savings deposit rate to 2.75%, lowers MCLR by 35 bps 07 Apr 2020 15:37 The cut will be effective from 15 April, SBI said. On 11 March, the bank had lowered its savings bank interest rate to 3% for all customers. Before the cut in March, it used to pay 3.25% on balances of up to ₹1 lakh and 3% on balances above ₹1 lakh. It had …
  • FACTBOX-Global economic policy response to coronavirus crisis 07 Apr 2020 15:36 LONDON (Reuters) - Governments and central banks around the world have unleashed unprecedented fiscal and monetary stimulus and other support for economies floored by the coronavirus pandemic. The G20 said on March 26 it would inject more than $5 trillion …
  • After Article 370, new Jammu & Kashmir domicile law fuels anxiety Quartz India 07 Apr 2020 15:10 India’s recent move to open up Jammu & Kashmir for settlement by outsiders is fuelling fears of another “Palestine in the making” among its Muslim majority residents. The government of India issued a notification on April 1 changing the decades-old …
  • RBI relaxes overdraft facility norms for states, UTs until September 30 07 Apr 2020 13:19 The Reserve Bank of India (RBI) on Tuesday relaxed rules for states to avail overdraft facilities until September 30, helping cashflow as India enters the the third week of a 21-day lockdown to prevent the spread of the coronavirus. In a circular, the …
  • COVID-19 crisis: RBI eases overdraft facility norms for states facing cash crunch 07 Apr 2020 13:18 Apr 07, 2020, 04:37PM ISTSource: Times NowIn the wake of the recent COVID-19 crisis, the Reserve Bank of India has provided greater flexibility to states and union territories by easing some rules for availing overdraft facilities. This arrangement will …
  • Hotels, restaurants, real estate were not taboo for banks 07 Apr 2020 12:29 MUMBAI: Hotels, tourism and commercial real estate may be the worst-hit sectors amid the Covid-19-driven lockdown, according to experts, causing a reversal of sorts since this cluster contributed the most to the credit growth of banks until February this …
  • No impact of Covid-19 on PFC’s growth: Rajeev Sharma 07 Apr 2020 11:10 PFC has disbursed a fair amount in the first week of the lockdown. How has the business been for you till March amidst the Covid-19 outbreak and the lockdown? There was no impact of Covid-19 on our disbursements. We could disburse more than Rs 11,000 crore …
  • Tata Capital loan EMI moratorium: All the terms, conditions and charges 07 Apr 2020 09:22 On March 27, the Reserve Bank of India (RBI) announced that all lending institutions, such as banks and non-banking finance companies (NBFCs), should provide a three-month moratorium on all term loans payments falling between March 1, 2020 and May 31, 2020 …
  • IDBI Bank loan EMI moratorium: Terms and charges 07 Apr 2020 09:22 The Reserve Bank of India (RBI), on March 27, instructed all lending institutions should offer a three-month moratorium on term loan equated monthly instalments (EMIs). Banks and other lenders have been instructed to give borrowers a grace period of three …
  • IndusInd Bank deposit shrinks 7% in March quarter 07 Apr 2020 08:16 Deposit base of the bank declined to ₹2,02,303 crore in the quarter ended March as against ₹2,16,713 crore in the previous quarter, the bank said in a late-night regulatory filing on Monday. As a result, the bank's current account savings account (CASA …
  • IndusInd, HDFC Bank surge up to 21% post Q4 biz update amid Covid-19 woes 07 Apr 2020 07:00 Shares of HDFC Bank and IndusInd Bank zoomed as much as 21 per cent on the BSE on Tuesday after the banks informed their respective investors about their March quarter performance. While HDFC Bank reported a 21 per cent year-on-year jump in the net …
  • Scammers try selling world's tallest statue as pandemic boosts India's cyber crime 07 Apr 2020 05:54 MUMBAI (Reuters) - Police in India lodged a case this week against an unknown online fraudster who tried selling the world’s largest statue for $4 billion, claiming the proceeds would be used to help the Gujarat state government fund its fight against the …
  • Tripartite alliance rejects Mboweni’s IMF, World Bank plan 07 Apr 2020 05:49 The ANC-led tripartite alliance has rejected Finance Minister Tito Mboweni’s plan to turn to the World Bank and the International Monetary Fund (IMF) to seek financial help to stem an economic meltdown and fight the Covid-19 pandemic. The Alliance …
  • Commerce Ministry wants to take upcredit woes of exporters with the RBI 06 Apr 2020 17:05 The Commerce Ministry is seeking a meeting with the Reserve Bank of India (RBI) to discuss the acute credit crunch being suffered by exporters, especially due to the blockage of payments due to the Covid-19 crisis, and ways to ease the situation for them. …
  • Yes bank can't declare firm NPA for non payment of loan due to coronavirus: HC 06 Apr 2020 16:30 New Delhi: The Delhi High Court Monday said that prima facie Yes Bank could not have declared a private company's account as non-performing asset (NPA) for its failure to pay loan installments due to coronavirus pandemic. Justice Sanjeev Sachdeva, who …
  • India facing greatest emergency since 1947: Raghuram Rajan on coronavirus 06 Apr 2020 12:45 There are over 4,000 confirmed cases and 109 deaths in India. Urging the government to prioritise spending on the poor and call people with proven expertise and capabilities, including from Opposition parties to deal with the coronavirus pandemic, former …
  • Another Huge Helping Of Corporate Welfare For Wall Street 06 Apr 2020 11:25 To say that these are unprecedented times would be the understatement of the century. Even as the United States became the latest target of Hurricane COVID-19, in “hot spots” around the globe a continuing frenzy of health concerns represented yet another …
  • Kotak Mahindra Bank reports 12% growth in deposits 06 Apr 2020 10:55 Mumbai: Bucking the industry trend, private lender Kotak Mahindra Bank on Monday reported 11.7 per cent growth in its deposits to Rs 2,58,500 crore for the quarter ended March 31. The lender along with bigger rival HDFC Bank are among a few players in the …
  • Covid-19: Shoring up states financial muscle in times of a crisis 06 Apr 2020 10:33 In view of the ongoing crisis, the government has come up with several measures to aid the economy. Recently it allowed states to avail of up to 50 per cent of their 2020-21 (FY21) borrowing requirements. Here’s the latest on the coronavirus outbreak and …
  • India's fiscal response to Covid-19 inadequate compared to other countries, says industry body 06 Apr 2020 10:12 In comparison to other countries, the fiscal package announced by India are only a few crumbs, according to The All India Association of Industries. "Till date, the Indian government has not announced any stimulus packages for companies or businesses. …
  • Covid-19: India faces greatest economic emergency since Independence, says Raghuram Rajan 06 Apr 2020 08:15 The coronavirus pandemic is likely to be the biggest economic crisis faced by India since the emergency according to former Reserve Bank of India governor Raghuram Rajan. “Economically speaking, India is faced today with perhaps its greatest emergency …
  • India should keep public finances healthy: Former RBI chief Urjit Patel 06 Apr 2020 07:33 By Anirban Nag India must keep public finances relatively healthy to stave off a possible second wave of risks in the financial sector once the coronavirus crisis abates, said a former central bank governor. While calls for a stimulus are rising, India …
  • India's March services activity contracts amid coronavirus disruptions 06 Apr 2020 05:16 BENGALURU, April 6 (Reuters) - India’s dominant services sector, the lifeblood for economic growth and jobs, contracted in March as new business and export demand fell sharply as the coronavirus pandemic wreaked havoc globally, a private survey showed. …
  • Containing the economic impact of Covid 06 Apr 2020 04:40 Many high frequency indicators in February, as well as a rise in IIP and export growth, point to a turnaround due to the moderate monetary-fiscal stimulus adopted in the last year. Of course, now Covid-19 has interrupted the recovery, but evidence suggests …
  • India faces greatest economic emergency since Independence: Raghuram Rajan 05 Apr 2020 22:17 New Delhi, April 5 (IANS) Former RBI Governor Raghuram Rajan has said that due to the coronavirus crisis, India currently faces the greatest economic emergency since its independence. He noted that although the global financial crisis in 2008-09 had a …
  • Coronavirus impact: States can now borrow up to 50% of limit in April 05 Apr 2020 20:18 In an unprecedented move necessitated by the coronavirus (Covid-19) pandemic, the Centre has allowed states to avail of up to 50 per cent of their 2020-21 (FY21) borrowing requirements in April itself, Business Standard has learnt. The move became …
  • IndusInd Bank taps CPPIB, GIC to raise $500 million 05 Apr 2020 19:53 MUMBAI : IndusInd Bank and its promoter the Hinduja Group have initiated talks with sovereign wealth funds and pension funds, including Canada’s CPPIB and Singapore’s GIC Pte Ltd, to raise as much as $500 million. This is aimed at bolstering investor …
  • Rajan urges government to invite experts to deal with economic impact of COVID-19 05 Apr 2020 18:12 NEW DELHI: Former RBI governor Raghuram Rajan has suggested to the government to call people with proven expertise and capabilities, including from opposition parties, to deal with perhaps the greatest emergency being faced by the country since …
  • Bank of Maharashtra cuts repo linked lending rate by 75 bps 04 Apr 2020 16:11 Mumbai: State-owned Bank of Maharashtra (BoM) on Saturday said it will reduce its repo linked lending rate (RLLR) by 75 basis points from April 7. All retail loans (housing, education, vehicle), and MSME loans, which are linked to RLLR, will now be …
  • HDFC Bank vs ICICI Bank vs Axis Bank: EMI moratorium terms, charges 04 Apr 2020 07:24 The Reserve Bank of India, on March 27, announced that all lending institutions offer a three-month moratorium on term loan equated monthly instalments (EMIs). Under RBI's relief package, banks and other lenders, have been instructed to give borrowers …
  • Covid-19 Live: India case count nears 3,000 04 Apr 2020 06:33 !1 New UpdateClick here for latest updates 47 fresh Coronovirus positive cases reported in Maharashtra today- 28 in Mumbai, 15 in Thane district, 1 in Amravati, 2 in Pune and 1 in Pimpri Chinchwad; The total number of positive cases in the state rises to …
  • RBI declares new money market trading hours inclusive of Forex from April 7 to 17 04 Apr 2020 01:46 The RBI is reportedly likely to infuse Rs 1 trillion into the economy Thinning of markets, liquidity crunch and volatility in financial markets has impacted trading since nationwide lockdown was imposed on March 23, to contain and curb the spread of …
  • What’s on TV Saturday, April 4: ‘Line of Duty’; plus, Sunday talk shows 04 Apr 2020 00:50 SERIES The Kitchen In a new “Quarantine edition,” the hosts use ingredients from their own pantries. 11 a.m. Food Network California Cooking With Jessica Holmes Jessica and chef Felix Trattoria prepare pasta with prosciutto and peas. A visit to Sonoratown …
  • Bond market disappointed with borrowing plan of Centre, states 03 Apr 2020 19:47 Bond yields shot up on Friday as dealers expressed disappointment on heavy weekly borrowing numbers, while there was no news on private placement with the Reserve Bank of India (RBI). Despite the government and the RBI earmarking five specified securities …
  • Relief measures announced by govt, RBI not enough, says India Inc 03 Apr 2020 17:57 India Inc is near unanimous in its view that the relief measures announced by the Reserve Bank of India (RBI) and the government are not enough, even as it seeks a comprehensive stimulus package from the state to combat the adverse impact of Covid-19 on …
  • HDFC Bank loan EMI moratorium 03 Apr 2020 13:40 On 27 March 2020, the Reserve Bank of India (RBI) said that all lending institutions, including banks and housing finance companies, will have to give their borrowers a three-month moratorium on term loans. The moratorium was for payment of all instalments …
  • Govt extends appointment of Madhabi Puri Buch as a WTM of SEBI 03 Apr 2020 13:16 The government has extended the appointment of Madhabi Puri Buch as a whole time member (WTM) of the Securities and Exchange Board of India (SEBI) by a period of six months on Friday. With this notification, the sole female member of the board will stay on …
  • RBI shortens business hours of money markets, cites impact of lockdown 03 Apr 2020 13:00 India’s central bank on Friday shortened the business hours of financial markets, saying the national lockdown to stem the spread of the coronavirus has had an "adverse impact" on work. Eight financial markets will function 10am to 2pm instead of …
  • Reserve Bank of India revises trading hours for various financial markets 03 Apr 2020 12:21 By ANI MUMBAI: The Reserve Bank of India (RBI) has revised timings for various financial markets to 10 am till 2 pm from April 7 to 17. This has been done to minimise risks and to ensure that market participants maintain adequate checks and supervisory …
  • RBI to conduct third tranche of Rs 25,000 crore TLTROs on April 7 03 Apr 2020 11:26 Mumbai: The Reserve Bank of India (RBI) on Friday said it will conduct the third tranche of Rs 25,000 target long term repo operations (LTROs) on April 7 for a 3-year tenor. Last month, the central bank provided the much-needed shot in the arm to the non- …
  • ICICI Bank slashes FD rates by up to 50 bps. Check the latest rates here 03 Apr 2020 07:26 Private sector bank, ICICI Bank, has announced via a filing to the stock exchanges, that it has cut interest rates on its fixed deposits (FDs) by up to 50 basis points (bps) across various tenures. (1 basis points/bps = 0.01 per cent). The new rates …
  • Exodus of migrants, death on roads, relief package: Week 1 highlights of India lockdown 01 Apr 2020 19:39 Daily wage earners take a break in Mumbai. A Rs 1.7 lakh crore relief package for the vulnerable and poor, deserted roads in cities usually overflowing with people and heartbreaking images of migrants setting off on foot to reach their native villages — …
  • Need more support from RBI, DPIT to pay salaries in April: Retailers Association of India 31 Mar 2020 11:20 Mumbai: The Retailers Association of India (RAI) is seeking an extension in moratorium on term loans and emergency working capital loans from the Reserve Bank in support from the Department for Promotion of Industry and Internal Trade (DPIT). The industry …
  • Trending stocks: Union Bank of India shares rise 1% 31 Mar 2020 05:23 NEW DELHI: Shares of Union Bank of India traded 0.88 per cent up in Tuesday 's trade at 10:32 am. Around 534948 shares changed hands on the counter. The stock opened at Rs 29.65 and touched an intraday high and low of Rs 29.75 and Rs 28.4 , …
  • Union Bank of India reduces lending rates by 75 bps in line with RBI cut 30 Mar 2020 17:23 State-owned Union Bank of India (UBI) on Monday reduced its lending rates linked to external benchmark by 75 basis points (bps) to 7.20 per cent, in line with the Reserve Bank of India's (RBI) recent repo rate cut. The new rate will be applicable for …
  • Bank of India cuts MCLR up to 25 bps across category, deposit rate cut next 29 Mar 2020 17:28 Government-owned Bank of India (BoI) will reduce its benchmark marginal cost of funds lending rate (MCLR) by15-25 basis points across categories from Wednesday. This follows the Reserve Bank of India’s (RBI’s) huge liquidity injection to directly address …