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RBI monetary policy: GDP growth in 2020-21 likely to be in negative territory, says Shaktikanta Das
Business

RBI monetary policy: GDP growth in 2020-21 likely to be in negative territory, says Shaktikanta Das

The Reserve Bank on India (RBI) on Friday said India''s gross domestic product (GDP) growth will be in negative territory in 2020-21 as the outbreak of coronavirus has disrupted economic activities

Coronavirus Outbreak: RBI cuts repo rate by 40 bps to 4%; full text of Shaktikanta Das' statement
Business

Coronavirus Outbreak: RBI cuts repo rate by 40 bps to 4%; full text of Shaktikanta Das' statement

The Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank reduced the repo rate by 40 bps to 4 percent to ease the financial stress caused by the Covid-19 pandemic

Coronavirus Outbreak: RBI cuts repo rate by 40 bps to 4%; full text of resolution of monetary policy statement
Business

Coronavirus Outbreak: RBI cuts repo rate by 40 bps to 4%; full text of resolution of monetary policy statement

To mitigate the economic impact of COVID-19 outbreak, in a surprise move, the Reserve Bank of India (RBI) on Friday again reduced the key lending rates by 40 basis points

Coronavirus Outbreak: Guidelines announced by aviation ministry for domestic flight services
Business

Coronavirus Outbreak: Guidelines announced by aviation ministry for domestic flight services

In a set of detailed guidelines, the ministry advised vulnerable people like the elderly, pregnant women and passengers battling health issues to avoid air travel till the coronavirus pandemic abates

Coronavirus Outbreak: Paytm records 4 times growth in payments made to merchants during lockdown
Business

Coronavirus Outbreak: Paytm records 4 times growth in payments made to merchants during lockdown

Digital payments firm Paytm has recorded around four-fold jump in payments received by merchants in its new ledger service amid the coronavirus pandemic, a senior company official said on Thursday

Govt stimulus package does not address immediate concerns of healthcare system: Fitch Solutions
Business

Govt stimulus package does not address immediate concerns of healthcare system: Fitch Solutions

Fitch Solutions has said that the latest stimulus package does not address immediate concerns of the healthcare system which is reeling under the pressure of COVID-19 pandemic

Govt notifies changes in rules disallowing global tender for procurement up to Rs 200 cr; move to benefit MSMEs
Business

Govt notifies changes in rules disallowing global tender for procurement up to Rs 200 cr; move to benefit MSMEs

The government has notified amendments to General Financial Rules (GFR) to ensure that goods and services valued less than Rs 200 crore are being procured from domestic firms, a move which will benefit MSMEs

Coronavirus Lockdown: Govt cap fares of Mumbai-Delhi route at Rs 3,000-10,000; comes out with guidelines for domestic air travel
Business

Coronavirus Lockdown: Govt cap fares of Mumbai-Delhi route at Rs 3,000-10,000; comes out with guidelines for domestic air travel

About a third of operations will be allowed under strict norms when domestic flight services restart on Monday after a two-month hiatus and all the airlines will have to adhere to the upper and lower limits of fares prescribed by the government, the Civil Aviation Ministry said on Thursday

Hindustan Zinc net profit drops 33% to Rs 1,339 cr in March quarter; ramps up operation back to normal level
Business

Hindustan Zinc net profit drops 33% to Rs 1,339 cr in March quarter; ramps up operation back to normal level

Hindustan Zinc's total income declined to Rs 4,861 crore in the January-March quarter, compared with Rs 6,030 crore in the year-ago period.

Amazon enters Indian food delivery market, to compete against Zomato, Swiggy; starts operations in select parts of Bengaluru
Business

Amazon enters Indian food delivery market, to compete against Zomato, Swiggy; starts operations in select parts of Bengaluru

Amazon India on Thursday said it is launching its food delivery operations in select parts of Bengaluru, a move that will see the e-commerce giant compete against major players like Zomato and Swiggy in the country

Coronavirus Outbreak: Kerala records highest number of cyberattacks during lockdown, says report
Business

Coronavirus Outbreak: Kerala records highest number of cyberattacks during lockdown, says report

The COVID-19-induced lockdown saw a spurt in crybercrimes in India with Kerala recording the highest number of cyberattacks during the period, according to an analysis of IT security solutions provider K7 Computing

Coronavirus Lockdown: Swiggy, Zomato start home delivery of alcohol in Ranchi; to add other cities over next couple of days
Business

Coronavirus Lockdown: Swiggy, Zomato start home delivery of alcohol in Ranchi; to add other cities over next couple of days

Swiggy, on-demand delivery platform, has enabled online processing and home delivery of alcohol through the ‘Wine Shops’ category on the Swiggy app

Coronavirus Lockdown: Honda Motorcycle and Scooter India to resume manufacturing operations from next week in phased manner
Business

Coronavirus Lockdown: Honda Motorcycle and Scooter India to resume manufacturing operations from next week in phased manner

Honda Motorcycle and Scooter India (HMSI) on Thursday said it will resume manufacturing operations across its four plants in the country in two phases, with Karnataka-based facility kickstarting the process from next week

COVID-19 Lockdown Impact: Nissan India introduces online vehicle booking process
Business

COVID-19 Lockdown Impact: Nissan India introduces online vehicle booking process

Automaker Nissan India on Thursday said it has launched a new digital initiative enabling customers to book and buy vehicles online amid coronavirus pandemic

Aviation stocks rally up to 10% after govt announces domestic passenger flights to resume from Monday
Business

Aviation stocks rally up to 10% after govt announces domestic passenger flights to resume from Monday

Aviation stocks on Thursday rallied up to 10 percent in opening trade after the government announced that domestic passenger flight services will resume from 25 May in a calibrated manner

Coronavirus economic stimulus package: Cabinet approves Rs 10,000 cr scheme to support micro food processing units
Business

Coronavirus economic stimulus package: Cabinet approves Rs 10,000 cr scheme to support micro food processing units

The Union Cabinet, headed by Prime Minister Narendra Modi, on Wednesday gave approval for a new central scheme with an outlay of Rs 10,000 crore for providing credit-linked subsidy to 2 lakh micro food processing units across the country

Coronavirus economic stimulus package: Cabinet approves Rs 20,050 cr scheme for fisheries sector
Business

Coronavirus economic stimulus package: Cabinet approves Rs 20,050 cr scheme for fisheries sector

The Cabinet on Wednesday approved a scheme to bring about a blue revolution through sustainable and responsible development of the fisheries sector with a total estimated investment of Rs 20,050 crore in the next five years

Coronavirus Lockdown: Cabinet approves Rs 3 lakh cr emergency credit line for MSME; loans at 9.25% rate
Business

Coronavirus Lockdown: Cabinet approves Rs 3 lakh cr emergency credit line for MSME; loans at 9.25% rate

The Union Cabinet on Wednesday approved additional funding of up to Rs 3 lakh crore at a concessional rate of 9.25 per cent through the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector hit hard by the coronavirus crisis

RBI board member Satish Marathe says stimulus package fails to involve banks as frontline warriors in economic revival
Business

RBI board member Satish Marathe says stimulus package fails to involve banks as frontline warriors in economic revival

The stimulus package announced by Finance Minister Nirmala Sitharaman "fails to involve" banks in the economic revival process, a member of the Reserve Bank of India's central board said on Wednesday

Bajaj Auto Q4 net profit dips 4% to Rs 1,354 cr; vehicles sales decline 17% to 9.92 lakh units
Business

Bajaj Auto Q4 net profit dips 4% to Rs 1,354 cr; vehicles sales decline 17% to 9.92 lakh units

Bajaj Auto on Wednesday posted a 3.86 per cent fall in its consolidated net profit at Rs 1,353.99 crore for the fourth quarter ended 31 March