Nearly half of travel, tourism firms staring at complete shutdown risk in next 3-6 months; resumption of flights revive hopes: Report
The report said that 81 percent travel and tourism companies have lost their revenue up to 100 percent while 15 percent of the companies have witnessed it slide up to 75 percent.
Coronavirus Outbreak Updates: 267 new COVID-19 patients reported in Rajasthan today, total number of cases rises to 6,494
Coronavirus Outbreak LIVE Updates: Two police stations have been sealed partially after a head constable was tested positive for COVID-19. According to police, the infected head constable was overseeing the arrangements to quarantine people who came from Mumbai.
About 20% SBI borrowers avail loan repayment moratorium; banks can go for debt recast: Chairman Rajnish Kumar
The SBI chairman advised borrowers to pay their loans if they are not facing any funding challenge.
Real estate players want banks to pass on benefit of rate cut to customers; demand one-time debt restructuring
Real Estate sector can act as a catalyst in resurrecting the economy, backed by stringent fiscal and non-fiscal measures," CREDAI President Satish Magar said in a statement.
SBI cuts lending rate by 15 basis points across all tenors; introduces new term deposit scheme for senior citizens
SBI has also cut interest rates on retail term deposit by 20 bps for upto 3-year tenor, effective from 12 May.
State-owned Indian Overseas Bank and Bank of Maharashtra on Wednesday announced a reduction in their marginal cost of funds based lending rate (MCLR)
Urgent relief needed for survival of restaurant industry; unemployment pay cover for employees needed: NRAI
NRAI also recommended that the benefit of PF contribution scheme should be extended wherein the state bears the PF contribution of both employees and the employers, to companies employing up to 1,000 persons.
The country's largest lender SBI on Tuesday said it has cut savings rate by 0.25 percent to 2.75 percent on all deposits
Most of the private sector lenders have decided to go for the "opt-in" option on loan repayment moratorium, putting the onus on the customer to take the initiative of informing the bank of their choice to go for the three-month breather offered by the Reserve Bank of India
Coronavirus Outbreak: Borrowers unlikely to get significant gains from loan moratorium; banks to charge interest later
The three-month suspension of EMI payments may not result in a significant gains for borrowers as they will charge interest for the moratorium period, according to the moratorium scheme announced by state-owned banks
Bourses react negatively to RBI governor's repo rate cut announcement: Sensex ends 130 points down, Nifty holds 8,600-level at close of trading
The Reserve Bank of India (RBI) slashed interest rates on Friday, following other central banks that have taken emergency measures to counter the economic fallout from the fast-spreading coronavirus pandemic.
The Reserve Bank of India on Friday asked all lending institutions to allow a three-month moratorium on EMI payments in order to infuse liquidity into the system as the economy grapples with COVID-19 challenges
Coronavirus Outbreak: Nirmala Sitharaman took care of the poor, Shaktikanta Das has taken care of middle class by cutting interest rates
RBI Governor Shaktikanta Das in a press conference said these are extraordinary circumstances, and unprecedented measures are required to support the sagging economy as all the economic activities have come to a halt.
The Reserve Bank is likely to allow banks to give relaxation to customers in paying their EMIs as the forced lockdown across sectors due to coronavirus pandemic
CAIT urges govt to restrict e-commerce companies to sell only essential goods; seeks fiscal stimulus to tide over crisis
The CAIT urged Goyal and Paswan that the e-taliers should be allowed to sell only essential commodities and they should be directed to close their portals for rest of the products.
Yes Bank users can now make over Rs 2 lakh payments towards loans, credit cards via other bank accounts
On 5 March, the RBI in consultation with the government put a moratorium on Yes Bank till 3 April, citing serious financial mismanagement at the private sector lender.
Despite the 135 basis points cut in repo rate, at which the Reserve Bank of India (RBI) lends short-term funds to banks, banks have lowered only 30-40 bps to their borrowers
Rupee slips 42 paise to 72.08 against dollar in early trade, currency comes under pressure after escalation of US-China trade war
At the Interbank Foreign Exchange, the rupee opened at 72.03 then fell to 72.08 against the US dollar, showing a decline of 42 paise over its previous closing.
RBI cut the repo third time in a row to 5.75 percent in its second bi-monthly policy decision, adopting an accommodative stance
In a move that may lead to lower home, auto and other loan EMIs, the RBI Thursday cut interest rates for the third time this year by 25 basis points to their lowest level in nine years and signalled more easing as it looked to support an economy growing at the slowest pace since the BJP first came to power in 2014