Economy News - Page 15

RBI measures to expand bank credit, boost liquidity, says NITI Aayog vice-chairman Rajiv Kumar

The RBI measures will revive credit flow by commercial banks and targeted long-term repo operation (LTRO) would further activate the corporate bond market and also provide much-needed liquidity to NBFCs, NITI Aayog vice-chairman Rajiv Kumar said on Friday

Coronavirus Outbreak: Real estate industry hails RBI move to boost liquidity in system

The real estate industry on Friday hailed RBI's decision to boost liquidity into the system and provide relief to loans taken from NBFCs for commercial projects, but sought one-time restructuring of their loans and a stimulus package to help the sector in battling the crisis caused by the lockdown to control COVID-19

E-commerce deliveries are safe, taking steps to protect customers, staff: Amazon India

Amazon India is reaching out to customers to assure them that receiving deliveries through its platform is safe, and that it continues to take preventative hygiene measures across its sites

Coronavirus Outbreak: Bankers welcome Reserve Bank's steps to enhance liquidity

The second set of measures announced by RBI for the COVID-19 pandemic-stricken economy got a thumbs-up from bankers who welcomed the steps taken as per the evolving market conditions

Passenger vehicle dispatches likely to decline by 10-12% in ongoing fiscal due to Covid-19 : ICRA

Domestic passenger vehicle (PV) dispatches are likely to decline by 10-12 percent in the current financial year due to COVID-19 pandemic, rating agency ICRA said on Friday

Rupee rises 45 paise to 76.42 post-RBI Governor Shaktikanta Das announces measures

The Indian rupee appreciated by 45 paise to 76.42 against the US dollar in intra-day trade on Friday after Reserve Bank of India Governor Shaktikanta Das announced measures to ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic

Rupee rebounds 48 paise to close at 76.39 post-RBI Governor Shaktikanta Das announces measures

The Indian rupee on Friday settled 48 paise higher at 76.39 against the US dollar, rebounding from an all-time low hit a day earlier, buoyed by RBI measures to prop up the economy reeling under the Covid-19 impact

Coronavirus Outbreak: Fuel sales slump 50% in first half of April; petrol down 64%, diesel 61%, ATF 94%

India's fuel consumption slumped by a record 50 percent in April as all petroleum products except LPG saw massive demand erosion following a nationwide lockdown halted economic activity and travel

SEBI eases rules for companies on intimation to exchanges about board meetings

Markets regulator SEBI on Friday eased compliance rules for listed companies with regard to prior intimation to stock exchanges about board meetings amid the extended nationwide lockdown to tackle coronavirus pandemic

Prime minister Narendra Modi says RBI measures will enhance liquidity, credit supply

Prime Minister Narendra Modi on Friday said the announcements made by the Reserve Bank of India will greatly enhance liquidity and improve credit supply

Coronavirus Outbreak: RBI governor Shaktikanta Das hopes India will stage sharp V-shaped recovery in FY22

The Reserve Bank Governor Shaktikanta Das on Friday said there are a few slivers of brightness amidst the encircling gloom and hoped that India will stage a sharp V-shaped recovery in 2021-22 as projected by the International Monetary Fund (IMF)

Govt to soon clear Rs 10,000-cr 'Fund of Funds' for MSMEs with high credit rating: Union minister Nitin Gadkari

A Rs 10,000 crore "Fund of Funds" will soon be approved by the government to buy up to 15 percent equity in MSMEs with a high credit rating that want to list on stock exchanges and raise money from the capital markets, Union Minister Nitin Gadkari said on Wednesday

RIL raises Rs 8,500 cr from sale of non-convertible debentures offering 7.20% return

Reliance Industries has mopped up Rs 8,500 crore from the sale of non-convertible debentures (NCDs), cashing in on the cheaper funds flooding the debt market that is starved of quality paper, priced it at 7.20 percent

Coronavirus Outbreak: IMF approves nearly $1.4 bn to Pakistan to meet balance of payment crisis

The IMF has approved the disbursement of $1.386 billion as a financial assistance to cash-strapped Pakistan to meet its urgent balance of payment needs stemming from the COVID-19 outbreak

Coronavirus Outbreak: RBI allows NBFCs to extend loans to delayed commercial realty by one year

The RBI on Friday allowed non-bank financial companies to extend the date for commencement of commercial operations (DCCO) for loans given to commercial real estate by additional one year without considering it as restructuring

Oil prices mixed as China economy gloom overshadows plans to ease US coronavirus lockdown

Both oil benchmarks are heading for a second consecutive week of losses, with U.S. oil around 18-year lows

Coronavirus Outbreak: Appliances, electronics industry seek nod from local authorities to restart production

Home appliances and consumer electronics manufacturers said they are gearing up to resume production and are in talks with local authorities for permission to operate factories which are located within or near city municipal limits

RBI sees retail inflation falling below 4% by mid-FY21 as coronavirus outbreak threatens demand

RBI governor Shaktikanta Das on Friday said the inflation is on a declining trajectory and could fall below the central bank's 4 percent target by the second half of this fiscal amid challenges posed by Covid-19 pandemic

Coronavirus Outbreak: RBI cuts reverse repo rate by 25 bps; full text of Shaktikanta Das' statement

Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic

Rupee rises 29 paise to 76.58 in early trade; investors awaits cues from Reserve Bank of India

The Indian rupee appreciated by 29 paise to 76.58 against the US dollar in early trade on Friday tracking positive opening in domestic equities, as investors awaited cues from the Reserve Bank of India to tide through the coronavirus crisis

TCS Q4 consolidated net profit dips marginally to Rs 8,049 cr, revenue rises 5% to Rs 39,946 cr

The country's largest software services firm Tata Consultancy Services on Thursday reported a marginal drop in consolidated net profit to Rs 8,049 crore for March 2020 quarter

Mobiles, TVs, readymade garments to be available on e-commerce platforms from 20 April

Mobile phones, televisions, readymade garments and stationery items will be allowed to be sold on e-commerce platforms like Amazon, Flipkart and Snapdeal during the lockdown from 20 April, officials said on Thursday

Coronavirus Outbreak: Over 20 lakh jobs at risk in Indian aviation, dependent sectors, IATA says

More than 20 lakh jobs are at risk in India's aviation space and dependent sectors in the wake of the coronavirus pandemic, according to global airlines' grouping IATA

Coronavirus Outbreak: EPFO settles 3.31 lakh withdrawal claims worth Rs 950 cr in 15 days

Retirement fund body EPFO settled 3.31 lakh PF withdrawal claims worth around Rs 950 crore in the last 15 days to give relief to the members during the lockdown

Coronavirus Outbreak: Bosch India pledges Rs 50 cr to combat COVID-19 spread

Bosch India on Wednesday said it has pledged Rs 50 crore to combat COVID-19 spread in India

SEBI eases compliance rules for processing of demat request, KYC application

Markets regulator SEBI on Thursday relaxed compliance norms for depository participants, stock brokers and share transfer agents with regard to the processing of demat request and KYC application amid the coronavirus pandemic

Coronavirus Outbreak: Curtailed trading hours for debt, currency markets will remain in force till 30 April, RBI says

The limited trading hours of debt as well as currency market will remain in force till 30 April amid extension of the countrywide lockdown, the RBI said on Thursday

Coronavirus Outbreak: Allow home delivery by all retailers, not just e-commerce players, says industry body

The Retailers Association of India (RAI) on Thursday urged the government to "strongly consider" allowing all forms of retailers, not just e-commerce players, to operate through home delivery during the extended lockdown period

Exports plunge 34.6% in March to $21.4 bn, steepest fall since FY09; imports down 28.7%

India's exports plunged by a record 34.57 per cent in March due to a steep decline in shipments of leather, gems and jewellery and petroleum products, dragging the total exports in 2019-20 down to $314.31 billion, official data showed on Wednesday

Coronavirus Outbreak: Gates Foundation to give $150 million more to combat COVID-19 globally

The Bill & Melinda Gates Foundation has announced an additional $150 million of grant for the global fight against the deadly coronavirus, raising its total funding to more than $250 million