Economy News - Page 14

Coronavirus Lockdown: Tata Motors extends commercial vehicles' warranty by two months worldwide

Tata Motors on Tuesday said it has extended by two months the warranty period for all of its commercial vehicles which are expiring during the period of the lockdown

Coronavirus Outbreak: Moody's says loan moratorium may lead to greater build-up of credit losses for banks

The loan moratorium extended by banking regulators in countries like India and China to deal with the liquidity crunch amid COVID-19 crisis will provide temporary relief to borrowers, but will constrain banks from taking proactive recovery actions

Only dozen-odd of 52 microlenders can gain from RBI's special liquidity window, says MFIN chief

Only a dozen-odd of the 52 micro lenders have investment-grade ratings and are thus eligible to issue debt instruments that can be picked by banks using the Rs 50,000-crore special liquidity tap that the Reserve Bank of India has opened up over the weekend

Crude oil futures plunges into negative, but MCX seeks interim settlement at Re 1; SEBI gets into action

Crude oil futures contract price may have plunged into negative territory in the international market, but India's leading commodity exchange MCX has fixed an interim settlement price of Re 1 per barrel

Coronavirus Outbreak: UPI transactions drop in March, RTGS shoots up due to lockdown

After constantly rising for the past several months, the volume, as well as value, of transactions through the UPI payment system dropped in March due to the 21-day nationwide lockdown imposed to combat the coronavirus infection

Stricter surveillance measures to tackle stock market volatility to continue: SEBI

Regulator SEBI on Monday said stricter surveillance measures to tackle market volatility amid coronavirus pandemic will continue till 28 May

Coronavirus Outbreak: Consumer forum demands air ticket refunds on travel date basis

City-based consumer protection forum Mumbai Grahak Panchayat on Monday urged the civil aviation ministry to direct airlines to refund customers for the cancelled flights based on the date of travel and not as per the date of booking and has sought suitable modification in 16 April order on this issue

Coronavirus Outbreak: Mahindra Logistics to provide relief-fund to drivers impacted by lockdown

Mahindra Logistics has launched an initiative that has a provision for providing Rs 3,000 each to drivers impacted by the COVID-19 lockdown

Coronavirus Outbreak: Availability of components critical to restart manufacturing operations, say automakers

Major carmakers like Maruti Suzuki, Hyundai, Toyota and Honda have not yet resumed production at their factories stating that availability of components is a prerequisite to re-start operations at factories, which continue to remain inaccessible due to the nationwide lockdown

Rupee plummets 30 paise to 76.83 in early trade on weak domestic equities; dollar strengthens overseas

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Coronavirus Outbreak: Oil PSUs to re-start over Rs 42,000 cr of projects as lockdown restrictions ease

State-owned oil firms will resume as many as 511 projects involving over Rs 42,000 crore of investment with immediate effect as the country partially exited from an unprecedented nationwide lockdown on Monday

Finance ministry sanctions Rs 46,038 cr as states share in central taxes and duties for April

The Finance Ministry on Monday said it has sanctioned Rs 46,038 crore for the devolution of states' share in central taxes and duties for April

Coronavirus outbreak could impact timescale for Vijay Mallya’s extradition to India

The coronavirus pandemic may impact the timescale for the extradition to India of liquor tycoon Vijay Mallya, who lost his UK High Court appeal on Monday against the Indian government’s fraud and money laundering case

RBI announces calender of MPC meetings for FY21; next meet of rate-setting panel scheduled for 3-5 June

The Reserve Bank of India on Monday announced the calendar of the meetings of the Monetary Policy Committee (MPC) for the current financial year, and decision of the first meet will be announced on 5 June

Coronavirus Outbreak: Aviation stocks fall after DGCA directive to stop bookings for travel after 3 May

Airline stocks fell up to 5.5 percent on Monday after regulator DGCA directed airlines to stop taking bookings for travel after 3 May

Infosys Q4 net profit up 6.3% at Rs 4,335 cr, revenue rises 8%; suspends FY21 guidance citing uncertainty

The country's second-largest IT services player Infosys on Monday reported a 6.3 percent rise in consolidated net profit to Rs 4,335 crore for March 2020 quarter

Coronavirus Outbreak: Apparel exporters urges govt to pay workers' wages for April-May

Apparel exporters body AEPC on Monday urged the government to pay wages of workers, engaged in the sector, for April and May as the community is battling to deal with the lockdown due to Covid-19

Expand list of essentials to include laptops, routers to facilitate work from home: Nasscom to govt

Industry body Nasscom has urged the government to expand the list of essential items to include products like laptops and routers to facilitate work from home amid the lockdown

Tata Motors' January-March quarter global wholesales down 35% at 2,31,929 units

Tata Motors on Monday said its group global wholesales, including Jaguar Land Rover, stood at 2,31,929 units in the January-March quarter, lower by 35 percent over last year

Coronavirus Outbreak: Airtel to pay April salaries of nearly 25,000 staff employed by distributors, retail franchisees

Airtel has decided to pay the basic income for April to nearly 25,000 employees of its distribution partners and retail franchisee network to help them tide over the unprecedented situation arising out of the ongoing lockdown to contain the spread of Covid-19

China says India's new FDI rules violate WTO principles on free and fair trade; hopes for revision in 'discriminatory practices'

India’s new rules for foreign investment violate WTO principles of non-discrimination and are against free and fair trade, a Chinese embassy spokesperson in New Delhi said on Monday

Coronavirus Outbreak: Business confidence at 'sharpest moderation' since global financial crisis of 2008-09, FICCI survey

A survey by industry body FICCI has "revealed sharpest moderation" in the confidence level of India Inc since the global financial crisis of 2008-09 as the coronavirus outbreak has adversely affected their businesses

Rupee settles 14 paise lower at 76.54; impact of greenback strengthening overseas

The Indian rupee declined by 14 paise to settle at 76.53 (provisional) against the US dollar on Monday, amid strengthening of the American currency overseas and a sharp rise in coronavirus cases in the country

Coronavirus Outbreak: Domestic, international flight restrictions to be lifted when COVID-19 is controlled, says minister

Restrictions on domestic and international flights will be lifted when the government is confident that the spread of coronavirus has been controlled, and poses no danger to Indians, Civil Aviation Minister Hardeep Singh Puri said on Monday, amidst reports of some airlines doing open bookings

Coronavirus Outbreak: AirAsia India cuts staff salaries by up to 20% for April to tackle airline’s finances

AirAsia India has cut the April salary of its staff by up to 20 percent to tackle the airline’s finances amid the suspension of all commercial services till 3 May due to the lockdown, a source has said

Coronavirus Outbreak: PE investment in real estate falls 89% to $222 mn in January-March quarter: Report

Private equity (PE) investment in Indian real estate plunged 89 percent to $222 million (Rs 1,640 crore) during the January-March period this year on global economic slowdown caused by the coronavirus outbreak, according to a report by Colliers International

Motilal Oswal Real Estate raises Rs 1,150 cr; commits Rs 550 cr investment in 9 projects

Motilal Oswal Real Estate (MORE) has raised Rs 1,150 crore for its fourth realty fund from HNIs to invest in housing and commercial projects across six major cities, and has committed of around Rs 550 crore in nine projects from this fund, a senior company official said

Coronavirus Outbreak: Fitch Solution cuts India's FY21 GDP growth forecast to 1.8%; says pvt consumption to contract

Fitch Solutions on Monday cut India's economic growth forecast for the financial year 2020-21 to 1.8 percent saying private consumption is likely to contract due to large-scale loss of income in the face of worsening domestic outbreak of COVID-19

Haven't received any govt notice on bookings open from 4 May: Vistara, AirAsia India

A day after Union Minister Hardeep Singh Puri advised airlines to open bookings only after the government takes a decision on resuming passenger flight services, Vistara and AirAsia India said on Sunday they have not received any notice from the aviation ministry on this matter

Coronavirus Outbreak: RBI bans banks, cooperatives from paying dividends

The Reserve Bank on Friday debarred all commercial and cooperative banks from paying dividends to shareholders and promoter groups as the regulator fears the Covid-driven economic shocks would continue longer and may put the health of the financial system at risk