Tarun Bajaj takes over as economic affairs secretary

Prior to taking over this post, Tarun Bajaj was the additional secretary in Prime Minister's Office. Bajaj, a 1988 batch IAS officer, replaces Atanu Chakraborty, who retired on Thursday. "Shri Tarun Bajaj takes over as the new secretary, Department of Economic Affairs (DEA), here today after superannuation of Shri Atanu Chakraborty on 30.04.2020," the finance ministry said in a tweet.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3bWMerU

MSMEs don’t have the capacity to deal with something unexpected like Covid-19: Suresh Prabhu

Covid-19 and the resultant lockdown has dealt a body blow to millions of small businesses in the country. Without assistance, most will find it difficult to survive.

from SME Sector-Small Biz-Economic Times https://ift.tt/3fa3J9W
via

Jio-WhatsApp model can go global for small biz: Zuckerberg

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3f6cbah

MNREGA adding jobs, but few benefitting

MGNREGA has generated 3.59 crore person days of work in the country in the financial year 2020-21. An overwhelming chunk of work can be attributed to the nine days since April 20 when the scheme resumed following the nationwide lockdown. However, it has provided jobs to just around 49 lakh people.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Wiaca7

PM Modi signals push to attract firms that exit China to India

Prime Minister Narendra Modi signalled a major push to boost investments in the country and capture a part of the supply chain that is expected to move out of China as global corporations look to diversify their production base in the aftermath of Covid-19.

from Economy-News-Economic Times https://ift.tt/2Sl1FSM
via

View: WHO crisis raises deeper questions on multilateralism. Needed: New post-corona world order

Many of our global institutions are so dependent on their donors for funding that they often become pawns for their political agendas. This has contributed to what Shashi Tharoor and Samir Saran have termed the “new world disorder”, with countries slipping back into 19th century style spheres of influence.

from Economy-News-Economic Times https://ift.tt/2WtALtp
via

Businesses get compliance relief from EPFO

The Employees Provident Fund Organisation (EPFO) has eased the compliance burden of businesses by allowing employers to file the monthly Electronic-Challan cum Return (ECR) and make the statutory contributions later.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Sq6mLc

RIL reports 37% drop in Q4 profit at Rs 6,546 cr

Reliance Industries’ profit fell 37% to Rs 6,546 crore in the fourth quarter of fiscal 2020, when the coronavirus outbreak slammed the brakes on the Indian economy. This is the first time in the past many years that the nation’s largest private sector company reported a decline in profit.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2xrMpwg

In revival nudge, AP to clear sops due to MSMEs

The state government expects the decisions to benefit more than 97,000 MSME units, including 72,531 micro enterprises, 24,252 small scale units and 645 medium scale entities, which together provide employment to 9.68 lakh persons.

from SME Sector-Small Biz-Economic Times https://ift.tt/3d5q5HX
via

Lockdown: Maruti sells zero units in domestic market in April

The country's largest carmaker Maruti Suzuki India (MSI) on Friday said it did not sell a single unit in the domestic market last month due to coronavirus-led nationwide lockdown. The company had zero sales in the domestic market in April 2020, MSI said in a statement.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3d70YUW

HUL Q4 net profit at Rs1,519cr; volumes plunge 7%

Domestic consumer growth declined by 9% with a decline of 7% in underlying volume in the latest quarter, stated HUL.

from India Infoline News Service https://ift.tt/3bWuYTm

RIL's telecom arm Reliance Jio records Q4 PAT of Rs2,331cr; subscriber base at 387.5M

RJio recorded a standalone net profit of Rs2,331cr in Q4, followed by Rs5,562cr income for the entire fiscal FY20.

from India Infoline News Service https://ift.tt/2SoN0Gq

Mukesh Ambani-led RIL logs consolidated PAT of Rs6,546cr in Q4, down 37% yoy

The Q4 PAT declined by 37.2% yoy and 44.7% qoq compared to Rs10,427cr and Rs11,841cr witnessed in Q4FY19 and Q3FY20 respectively.

from India Infoline News Service https://ift.tt/2KQtuOM

Reliance Industries to raise Rs53,125cr soon - Proposed issuance first in 3 decades

RIL board members approved issuance of equity shares at a face value of Rs10 each of the company.

from India Infoline News Service https://ift.tt/2SrrWyZ

Haryana to extend interest subvention for six months to MSME

Under this scheme, all the MSME units working in Haryana as on or before March 15, 2020, will be eligible to 100 percent interest benefit on loans availed for payment of the wages of employees or other expenses upto a maximum of Rs 20,000 per employee for a period of six months.

from SME Sector-Small Biz-Economic Times https://ift.tt/2y6pJ5a
via

How printing money can save the economy of a nation

​​The US, the European Central Bank, Japan, and even emerging economies such as Turkey and Indonesia are printing money to bring economies back to life. So must India. Here’s what this stimulus means, and what India can do.

from Economy-News-Economic Times https://ift.tt/2Wg03Ld
via

Government may raise up to Rs 10,000 crore via tax-free bonds

The finance ministry has begun negotiations with bankers on a likely tax-free bond issue. The money may be raised in multiple instalments. The government plans to raise temporary funds from the central bank through ways and means advances (WMA), a short-term borrowing window. The structure of the issue and number of instalments are yet to be decided.

from Economy-News-Economic Times https://ift.tt/3d4GlsA
via

As China stumbles, India plans big exports push in bulk drugs

The government is mulling fiscal incentive and capital subsidy for reviving and restarting old active pharmaceutical ingredient units in a bid to make India an alternative hub for bulk drugs at a time when China faces quality as well as trust issues.

from Economy-News-Economic Times https://ift.tt/2zMVPTT
via

Core sector’s monthly fall in March biggest in 8 years

The eight-core sector industries, which account for over 40% of the index of industrial production (IIP), slumped 6.5% in March — the steepest monthly fall since the series was constructed in 2011-12 — as the deadly coronavirus severely hit output across sectors and highlighted the pain ahead for the industrial sector. Coal was the sole segment that recorded growth.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3f7uAU2

Sensex, Nifty to remain shut on account of Maharashtra Day

There will be no trading in Indian bonds and currency markets on May 1 on account of Maharashtra Day being celebrated in Maharashtra.

from India Infoline News Service https://ift.tt/3c5ftsF

PM Modi signals push to attract firms that exit China to India

PM Modi on Thursday discussed ways to attract investments with his top ministerial colleagues, paving the way for a comprehensive strategy paper to be formally cleared by the cabinet in the coming weeks. The PM had signalled to boost investments by capturing a part of the supply chain expected to move out of China looking to diversify their production base.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2SnEIi1

Banking

The Reserve Bank of India has given the green signal to the country’s payment networks — Visa, Mastercard and NPCI — to allow tap-and-go functionality on card payments for all purchases at retail stores and shopping centres.

from Banking/Finance-Industry-Economic Times https://ift.tt/2xoAWgR

All payments via cards can now be contact-free

The Reserve Bank of India has given the green signal to the country’s payment networks — Visa, Mastercard and NPCI — to allow tap-and-go functionality on card payments for all purchases at retail stores and shopping centres.

from Banking/Finance-Industry-Economic Times https://ift.tt/2xoAWgR
via

Another round of lockdown will be devastating, says Raghuram Rajan

"India needs to be cleverer about reopening the economy," Rajan noted. If the country faces a surge of cases after the government lifts the restrictions then questions will arise on how successful the lockdown was, he said, which might push the country into another lockdown. This would then diminish credibility and confidence of the government.

from Economy-News-Economic Times https://ift.tt/2yUqfmM
via

View: Desperate India may now need Modi to do a Roosevelt

Prime Minister Narendra Modi has given little indication that he wants to be India’s version of President Franklin D. Roosevelt. But migrant workers tossed out of cities with no food, shelter or transport won’t return without a New Deal: nest eggs for old age and healthcare. A lifeline to small businesses now looks like the only saviour.

from Economy-News-Economic Times https://ift.tt/2SlWO3F
via

Lupin's Pithampur facility receives EIR from USFDA; stock spikes 2%

The inspection for the facility was conducted by the USFDA between February 3, 2020, and February 11, 2020, and concluded with two observations.

from India Infoline News Service https://ift.tt/3aKps4R

India's farm sector to grow at 3% in FY21, defying Covid-19 pandemic impact

At 3% FY21 growth rate, the sector will contribute approximately 50 basis points in India's economic growth.

from India Infoline News Service https://ift.tt/3dcgkrF

Glenmark to conduct clinical trials in India for Covid-19 patients; stock jumps ~8%

Glenmark has successfully developed the API and the formulations for the product through its in-house R&D team.

from India Infoline News Service https://ift.tt/35ilUFW

SIDBI gifts NBFCs, MFIs, extends loan repayment term; Know eligibility criteria

Earlier, the body had key the term to 90-days period. Hence, further breather of 9 months is sanctioned.

from India Infoline News Service https://ift.tt/2W9ZvGN

Money Market Operations as on April 29, 2020

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@         Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 270,874.55 3.33 0.01-4.50      I. Call Money 12,083.70 4.08 2.30-4.50      II. Triparty Repo 181,167.20 3.30 2.88-3.75      III. Market Repo 76,443.65 3.26 0.01-4.00      IV. Repo in Corporate Bond 1,180.00 4.42 4.00-4.50 B. Term Segment            I. Notice Money** 180.35 3.70 2.85-4.40      II. Term Money@@ 456.62 - 4.10-5.75      III. Triparty Repo 0.00 - -      IV. Market Repo 1,000.00 4.40 4.40-4.40      V. Repo in Corporate Bond 0.00 - -

RBI OPERATIONS@   Auction Date Tenor (Days) Maturity Date Amount Current Rate / Cut off Rate C. Liquidity Adjustment Facility (LAF) & Marginal Standing Facility (MSF) I. Today's Operations 1. Fixed Rate                (i) Reverse Repo Wed, 29/04/2020 1 Thu, 30/04/2020  748,828.00 3.75 2. Variable Rate&             (I) Main Operation                (a) Reverse Repo             (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo - - - - - 3. MSF Wed, 29/04/2020 1 Thu, 30/04/2020  0.00 4.65 4. Long-Term Repo Operations -   -   - 5. Targeted Long Term Repo Operations - - - - - 6. Targeted Long Term Repo Operations 2.0# - - - - - 7. Net liquidity injected from today's operations [injection (+)/absorption (-)]*       -748,828.00   II. Outstanding Operations 1. Fixed Rate                (i) Reverse Repo           2. Variable Rate&             (I) Main Operation                (a) Reverse Repo             (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo - - - - - 3. MSF           4. Long-Term Repo Operations Mon, 24/02/2020 365 Tue, 23/02/2021 25,021.00 5.15   Mon, 17/02/2020 1095 Thu, 16/02/2023 25,035.00 5.15   Mon, 02/03/2020 1094 Wed, 01/03/2023 25,028.00 5.15   Mon, 09/03/2020 1093 Tue, 07/03/2023 25,021.00 5.15   Wed, 18/03/2020 1094 Fri, 17/03/2023 25,012.00 5.15 5. Targeted Long Term Repo Operations Fri, 27/03/2020 1092 Fri, 24/03/2023 25,009.00 4.40   Fri, 03/04/2020 1095 Mon, 03/04/2023 25,016.00 4.40   Thu, 09/04/2020 1093 Fri, 07/04/2023 25,016.00 4.40   Fri, 17/04/2020 1091 Thu, 13/04/2023 25,009.00 4.40 6. Targeted Long Term Repo Operations 2.0# Thu, 23/04/2020 1093 Fri, 21/04/2023 12,850.00 4.40 D. Standing Liquidity Facility (SLF) Availed from RBI$       5,227.87   E. Special Liquidity Facility for Mutual Funds (SLF-MF)$$     2,000.00   F. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     245,244.87   G. Net liquidity injected (outstanding including today's operations) [injection (+)/absorption (-)]*     -503,583.13   RESERVE POSITION@ H. Cash Reserves Position of Scheduled Commercial Banks      (i) Cash balances with RBI as on 29/04/2020 416,628.55        (ii) Average daily cash reserve requirement for the fortnight ending 08/05/2020 418,679.00   I. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 29/04/2020 0.00   J. Net durable liquidity [surplus (+)/deficit (-)] as on 10/04/2020 368,801.00   @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL). - Not Applicable / No Transaction ** Relates to uncollateralized transactions of 2 to 14 days tenor. @@ Relates to uncollateralized transactions of 15 days to one year tenor $ Includes refinance facilities extended by RBI & As per the Press Release No. 2019-2020/1900 dated February 06, 2020 #  As per the Press Release No. 2019-2020/2237 dated April 17, 2020 ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015 * Net liquidity is calculated as Repo+MSF+SLF+SLFMF-Reverse Repo $$ As per the Press Release No. 2019-2020/2276 dated April 27, 2020 Ajit Prasad Director    Press Release : 2019-2020/2291

from PRESS RELEASES FROM RBI https://ift.tt/2zJglEV
via

Spadework for central secretariats in states begins

The Central Public Works Department has been entrusted with the job of construction of secretariats which would be developed as a high security office on the lines of Delhi’s CGO Complex. It would have public dealing offices for central ministries and even accommodate ministries which have been looking for office space in states.

from Economy-News-Economic Times https://ift.tt/2W8Bf7S
via

New FDI rules trigger concerns over investments from Taiwan

According to the recent government notification, all overseas investments from countries sharing border with India would need a prior approval from the government.

from Economy-News-Economic Times https://ift.tt/2KNhKfK
via

Federal Reserve leaves interest rates near zero

The Federal Reserve is committed to using its full range of tools to support the US economy in this challenging time, thereby promoting its maximum employment and price stability goals.

from India Infoline News Service https://ift.tt/3bRaxXY

Commodity Mantra Morning Update: All commodities trade higher

Here is the global trend and our view on Commodities.

from India Infoline News Service https://ift.tt/2y2AWni

Asian markets rally on treatment hopes; ahead of ECB meeting

Today, Hong Kong and South Korea markets are closed for a holiday.

from India Infoline News Service https://ift.tt/35fLwmO

Banking

Banks are currently offering 10% of outstanding loans to MSMEs as additional working capital at a concessional rate to help them tide over the temporary liquidity crunch.

from Banking/Finance-Industry-Economic Times https://ift.tt/2KMB0Ko

Bankers want govt guarantee on incremental loans to MSMEs

Banks are currently offering 10% of outstanding loans to MSMEs as additional working capital at a concessional rate to help them tide over the temporary liquidity crunch.

from Banking/Finance-Industry-Economic Times https://ift.tt/2KMB0Ko
via

Contactless payments, digital loans make kiranas open doors to fintech

Top fintech companies are, therefore, rushing to tap into this new consumer trend, with several of them offering digital solutions to small merchants. These range from instant loans to digital billing to even geotagging, as companies believe the merchant digitisation business will boom when the lockdown eases.

from Banking/Finance-Industry-Economic Times https://ift.tt/2yey32x
via

Banking

Top fintech companies are, therefore, rushing to tap into this new consumer trend, with several of them offering digital solutions to small merchants. These range from instant loans to digital billing to even geotagging, as companies believe the merchant digitisation business will boom when the lockdown eases.

from Banking/Finance-Industry-Economic Times https://ift.tt/2yey32x

India faces downgrade by Moody’s, change in outlook to negative by Fitch: Nomura

“India’s Achilles heel on ratings remains its parlous state of fiscal affairs. A potential spike in its general government debt from around 70% of GDP to around 75-80% of GDP may possibly trigger a reassessment of ratings, particularly for Moody’s,” said Nomura.

from Economy-News-Economic Times https://ift.tt/2Wd5RoK
via

India Inc wants the sum of its parts to be 'China Plus One'

India imports merchandise worth around $70 billion from China annually, largely in sectors like consumer durables, auto components, pharma and electronics. The share of China in the country’s total imports is about 14%, the second-largest after the Middle-East.

from Economy-News-Economic Times https://ift.tt/2SkGlgp
via

Top stocks in focus: Reliance Industries, HUL, Tech Mahindra, M&M Financial, Bajaj Finance

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

from India Infoline News Service https://ift.tt/3f23wpj

SGX Nifty indicates a positive opening for Indian markets

For today, expect a volatile session as expiry of the April derivative series will see further short squeeze as April turns out to be the best month of the year till now as Nifty rises almost 20%.

from India Infoline News Service https://ift.tt/2ShLyoT

Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

from India Infoline News Service https://ift.tt/3cY5gy3

RBI may raise promoter holding cap in private banks

The move to balance ownership and control comes as some private sector banks have sought a relaxation in licensing norms, citing the regulator’s recent decision on Kotak Mahindra Bank. The RBI didn’t respond to queries.

from Banking/Finance-Industry-Economic Times https://ift.tt/3bSLJ1K
via

Banking

The move to balance ownership and control comes as some private sector banks have sought a relaxation in licensing norms, citing the regulator’s recent decision on Kotak Mahindra Bank. The RBI didn’t respond to queries.

from Banking/Finance-Industry-Economic Times https://ift.tt/3bSLJ1K

Biocon soars 4% on launching Fulphila with Mylan in Canada

Biocon announced that Fulphila is approved by Health Canada to decrease the incidence of infection.

from India Infoline News Service https://ift.tt/2Wc39QB

Banking

The move will make Axis Bank, the third-largest private sector bank, a significant stakeholder in a life insurance venture and will allow it to participate in its long term capital appreciation.

from Banking/Finance-Industry-Economic Times https://ift.tt/3cSlZTe

‘Hand-to-mouth’ crisis for MSMEs fuels calls for more fiscal aid in India

As the cash-flow for MSMEs dries up, and in the absence of any fiscal support, many will be forced to cut jobs to curb costs.

from SME Sector-Small Biz-Economic Times https://ift.tt/2KFtKQw
via

Axis Bank enters into definitive agreement to become JV partner in Max Life

The move will make Axis Bank, the third-largest private sector bank, a significant stakeholder in a life insurance venture and will allow it to participate in its long term capital appreciation.

from Banking/Finance-Industry-Economic Times https://ift.tt/3cSlZTe
via

Axis Bank sets aside Rs100cr for employees, customers amid Covid-19; explores work from home culture

Over 99% of branches and 96% of the Banks ATMs are operational.

from India Infoline News Service https://ift.tt/2xgSk7a

Nifty trades above 9,450-mark; Axis Bank slips 3% post Q4 results

The Sensex gained 249 points at 32,363 and the Nifty was also up 79 points at 9,461.

from India Infoline News Service https://ift.tt/3cYbTQZ

CBDT extends GST, GAAR reporting deadline till March 2021

CBDT decided reporting under clause 30C and clause 44 of the Tax Audit Report to be kept in abeyance till March 2021 end.

from India Infoline News Service https://ift.tt/3eXdjNz

Covid-19 lockdown takes India's unemployment rate lower to 21%, labour force sentiments dampen

India's unemployment rate has dropped to 21.1% by April 26 weekend.

from India Infoline News Service https://ift.tt/2W5uS5n

Moody's cuts Indias growth forecast to 0.2% for 2020: Media reports

Moodys had cut its projections from 5.2% to 2.5% after Indias PM Narendra Modi announced a nationwide lockdown on March 24.

from India Infoline News Service https://ift.tt/3bNjem1

Money Market Operations as on April 28, 2020

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@         Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 284,571.35 2.85 1.00-4.50      I. Call Money 11,288.38 4.05 2.25-4.50      II. Triparty Repo 197,086.95 2.80 2.20-3.30      III. Market Repo 76,196.02 2.82 1.00-4.00      IV. Repo in Corporate Bond 0.00   - B. Term Segment            I. Notice Money** 325.19 3.58 2.85-4.40      II. Term Money@@ 1,352.50 - 4.10-6.25      III. Triparty Repo 1,751.05 3.41 2.00-3.75      IV. Market Repo 0.00 - -      V. Repo in Corporate Bond 0.00 - -

RBI OPERATIONS@   Auction Date Tenor (Days) Maturity Date Amount Current Rate / Cut off Rate C. Liquidity Adjustment Facility (LAF) & Marginal Standing Facility (MSF) I. Today's Operations 1. Fixed Rate                (i) Reverse Repo Tue, 28/04/2020 1 Wed, 29/04/2020 756,801.00 3.75 2. Variable Rate&             (I) Main Operation                (a) Reverse Repo             (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo - - - - - 3. MSF Tue, 28/04/2020 1 Wed, 29/04/2020 0.00 4.65 4. Long-Term Repo Operations -   -   - 5. Targeted Long Term Repo Operations - - - - - 6. Targeted Long Term Repo Operations 2.0# - - - - - 7. Net liquidity injected from today's operations [injection (+)/absorption (-)]*       -756,801.00   II. Outstanding Operations 1. Fixed Rate                (i) Reverse Repo           2. Variable Rate&             (I) Main Operation                (a) Reverse Repo             (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo - - - - - 3. MSF           4. Long-Term Repo Operations Mon, 24/02/2020 365 Tue, 23/02/2021 25,021.00 5.15   Mon, 17/02/2020 1095 Thu, 16/02/2023 25,035.00 5.15   Mon, 02/03/2020 1094 Wed, 01/03/2023 25,028.00 5.15   Mon, 09/03/2020 1093 Tue, 07/03/2023 25,021.00 5.15   Wed, 18/03/2020 1094 Fri, 17/03/2023 25,012.00 5.15 5. Targeted Long Term Repo Operations Fri, 27/03/2020 1092 Fri, 24/03/2023 25,009.00 4.40   Fri, 03/04/2020 1095 Mon, 03/04/2023 25,016.00 4.40   Thu, 09/04/2020 1093 Fri, 07/04/2023 25,016.00 4.40   Fri, 17/04/2020 1091 Thu, 13/04/2023 25,009.00 4.40 6. Targeted Long Term Repo Operations 2.0# Thu, 23/04/2020 1093 Fri, 21/04/2023 12,850.00 4.40 D. Standing Liquidity Facility (SLF) Availed from RBI$       3,946.50   E. Special Liquidity Facility for Mutual Funds (SLF-MF)$$     2,000.00   F. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     243,963.50   G. Net liquidity injected (outstanding including today's operations) [injection (+)/absorption (-)]*     -512,837.50   RESERVE POSITION@ H. Cash Reserves Position of Scheduled Commercial Banks      (i) Cash balances with RBI as on 28/04/2020 405,029.84        (ii) Average daily cash reserve requirement for the fortnight ending 08/05/2020 418,679.00   I. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 28/04/2020 0.00   J. Net durable liquidity [surplus (+)/deficit (-)] as on 10/04/2020 368,801.00   @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL). - Not Applicable / No Transaction ** Relates to uncollateralized transactions of 2 to 14 days tenor. @@ Relates to uncollateralized transactions of 15 days to one year tenor $ Includes refinance facilities extended by RBI & As per the Press Release No. 2019-2020/1900 dated February 06, 2020 #  As per the Press Release No. 2019-2020/2237 dated April 17, 2020 ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015 * Net liquidity is calculated as Repo+MSF+SLF+SLFMF-Reverse Repo $$ As per the Press Release No. 2019-2020/2276 dated April 27, 2020 Ajit Prasad Director    Press Release : 2019-2020/2284

from PRESS RELEASES FROM RBI https://ift.tt/2ShbS2t
via

Empty manufacturing plants may lose property cover

Large manufacturing plants that have fallen silent due to the lockdown risk losing their insurance cover if the Covid-19 induced restrictions get extended beyond May 3. Risk managers are in a panic as insurers have reminded them of a clause whereby the cover ceases if plants are unoccupied for over a month and said that they will give a one-time dispensation and allow coverage until May 3.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3aOdw1Y

Government starts e-retail chain for rural India

It’s the desi, rural version of Flipkart and Amazon, and is promoted by the government. Concerned over the severe restrictions on mobility and lack of adequate supplies in times of Covid-19, the government has facilitated the creation of a village-level online retail chain, planning massive supplies of essentials through fast-expanding outlets that are taking orders online and offline, and carrying out home deliveries.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2YgNGkS

Reliance Industries subsidiary acquires 17.37% shareholding in SkyTran Inc

No regulatory approvals were required in India for the aforesaid acquisition of shares, RIL said.

from India Infoline News Service https://ift.tt/2yUtiLu

Oil prices climb as storage fills less rapidly than feared

While storage is rapidly filling up, production cuts by U.S. shale producers, should help slow flows into tanks.

from The Hindu - Industry https://ift.tt/2yTSdPg

7.4 lakh pull out additional Rs 2,400 crore from EPF in 1 month

Around 7.4 lakh EPFO (Employees Provident Fund Org) subscribers have tapped their provident fund accounts to withdraw close to Rs 2,368 cr in one month, using a special window created due to the Covid-19 lockdown. Under the special facility, a non-refundable withdrawal of three months’ salary or up to 75% of the balance (whichever is less) has been provided.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3f2A02T

FM rebuts Rahul's claim, says no loan waived off

“Provisions are made for NPAs as per the four-year provisioning cycle laid down by the RBI. Upon full provisioning being done, banks write off the fully provided NPA but continue to pursue recovery against the borrower. No loan is waived off,” said finance minister Nirmala Sitharaman rebutting Rahul Gandhi’s claims on banks writing off bad debt of Rs 68,600 cr.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2VKBSW7

Commodity Mantra Morning Update: Gold, Oil rebound; Base metals higher

Here is the global trend and our view on Commodities.

from India Infoline News Service https://ift.tt/2SiKe5o

PNB, India Infoline offer top-up loans, but without moratorium

The RBI has let financiers grant a moratorium to accounts in default but standard (non-payment in 30 to 90 days bucket). In such cases, the lender will have to make provision of at least 10% spread over March and June quarters, with not less than 5% in each quarter.

from Banking/Finance-Industry-Economic Times https://ift.tt/2YeTf37
via

Banking

The RBI has let financiers grant a moratorium to accounts in default but standard (non-payment in 30 to 90 days bucket). In such cases, the lender will have to make provision of at least 10% spread over March and June quarters, with not less than 5% in each quarter.

from Banking/Finance-Industry-Economic Times https://ift.tt/2YeTf37

Alternative investment funds seek clarifications

Chinese investors — strategic and financial — pumped in an estimated $4 billion into the Indian startup ecosystem in 2019, making them the largest backers of the country’s digital economy. Their investments in funds are estimated to be much more.

from Economy-News-Economic Times https://ift.tt/2y04ylf
via

Top stocks in focus: Axis Bank, Biocon, Hexaware, Reliance Industries

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

from India Infoline News Service https://ift.tt/3f6K235

Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

from India Infoline News Service https://ift.tt/2Yh8YPc

SGX Nifty indicates a positive opening for Indian markets

For today, expect higher volatility as expiry of derivative contracts tomorrow sees both sided movements even as Nifty closes @ fresh 1 month highs.

from India Infoline News Service https://ift.tt/2yQ1V5m

India's foodgrain stocks at 73.85 mt as on April 01, clocks all-time high

India's food grains stock stood at 73.85 million tonnes (mt) in the central pool till April 01, 2020.

from India Infoline News Service https://ift.tt/2Yb26mp

UPL completes acquisition of Yoloo (Laoting) Bio-technology; stock spurts 4%

The company completed the acquisition of Yoloo (Laoting) Bio-technology which was announced on November 14, 2019.

from India Infoline News Service https://ift.tt/2VJcUXu

Shipping Corporation physically handed over vessel MT Maharaja Agrasen in Sri Lanka; stock up 1.5%

SCI said in an exchange filing that the company has physically handed over the vessel MT Maharaja Agrasen to the buyer's representative at Galle Anchorage in Sri Lanka.

from India Infoline News Service https://ift.tt/2YivAP8

Funds in RBI's TLTRO 2.0 may not flow to targeted segment - Ind-Ra

Ind-Ra says that deployment of TLTRO funds so far has largely been into the bonds issued by public sector entities and large corporates.

from India Infoline News Service https://ift.tt/2Y9FuCH

Ind-Ra revises India's GDP growth to 1.9% in FY21, lowest in 29 years

India Ratings (Ind-Ra) revises the country's FY21 gross domestic product (GDP) growth rate to 1.9% compared its earlier forecast of 3.6%.

from India Infoline News Service https://ift.tt/2W84mbD

Asian markets trade mixed as oil prices continue to fall

HSBC is expected to post its first-quarter results on Tuesday.

from India Infoline News Service https://ift.tt/2VGIg0E

Money Market Operations as on April 27, 2020

from PRESS RELEASES FROM RBI https://ift.tt/2yLc7fB
via

RIL to finalise first rights offer in 29 years

Reliance Industries (RIL) is planning a rights issue — its first fund-raise from the public in 29 years. The company has not disclosed the amount of money it plans to raise through the rights offer or any other details about it. RIL said its board will meet on April 30 to “consider a proposal to issue equity shares to existing shareholders on rights basis”.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2SaBYUL

US airlines set new policies to slow virus spread

Flights from all airlines have been grounded since mid-March as potential passengers hunkered down at home under lockdown orders to slow the spread of the virus. Most transatlantic flights were suspended after an order from the White House.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2VFy3S6

Meat traders upbeat on West, Southeast Asia

The industry is reaching out to farmers to source cattle, organising workers and scheduling their shifts to ensure social distancing, procuring protective facial coverings and gloves and discussing logistics with van transporters and ship liners for exports.

from Economy-News-Economic Times https://ift.tt/2Y9x3HG
via

India considers proposal to guarantee $39 billion of small-business loans

India is considering a proposal to guarantee as much as $39 billion of loans to small businesses.

from SME Sector-Small Biz-Economic Times https://ift.tt/2yOKcLA
via

After WhatsApp curbs, 70% fall in ‘highly forwarded’ messages

WhatsApp’s new restrictions to curb misinformation has shown quick results. The new restrictions, which were implemented earlier this month, have caused a 70% drop in the number of ‘highly forwarded messages’ sent on the platform. On April 7, the company had said messages that are forwarded five times or more, can be sent to only one person or a group at a time.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2VHZrix

Commodity Mantra Morning Update: Gold, Oil lower; Base metals mostly trading higher

Here is the global trend and our view on Commodities.

from India Infoline News Service https://ift.tt/2y2SeAo

Reliance Industries to consider Q4FY20 results on April 30

The company to consider and approve the standalone and consolidated audited financial results of the Company for the quarter/year ended March 31, 2020, and it will recommend dividend on equity shares of the Company on Thursday.

from India Infoline News Service https://ift.tt/3aHFZqu

States seek GST compensation beyond 2022 to tide over Covid-19 crisis

State finance ministers, during a video conference on Monday, also discussed issues arising out of the lockdown, including the urgent requirement of some form of aid for micro, small and medium enterprises, which have been affected the most, besides relief for the services sectors.

from Economy-News-Economic Times https://ift.tt/2W2lL5s
via

Top stocks in focus: Axis Bank, Ambuja Cements, UPL, HDFC Life, Adani Power, Reliance Industries

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

from India Infoline News Service https://ift.tt/3eWCM9S

Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

from India Infoline News Service https://ift.tt/3eSSDWO

SGX Nifty indicates a flat opening for Indian markets

For today, expect consolidation as derivative contracts expiry on Thursday sees roll over pressure on the buying/selling side.

from India Infoline News Service https://ift.tt/3bJlivx

Banking

Mukesh Ambani-owned Reliance Industries, Paytm, capital market exchanges NSE and BSE are among top firms interested in securing licences to own and operate an entity with powers at a par with National Payments Corporation of India (NPCI), multiple sources aware of the development told.

from Banking/Finance-Industry-Economic Times https://ift.tt/35ffGXA

Banking

India’s fourth-largest private sector bank will become a strategic partner of the life insurance firm, in which Max Financial will eventually hold 70% after a two-stage transaction.

from Banking/Finance-Industry-Economic Times https://ift.tt/2W9QKg2

Oil prices slide again as world runs low on storage capacity amid plunge in demand

In a sign of the energy industry's desperation for places to store petroleum, oil traders are resorting to hiring expensive U.S. vessels to store gasoline or ship fuel overseas, shipping sources said.

from The Hindu - Industry https://ift.tt/3aInbav

RBI’s call to form payments entity catches India Inc fancy

Mukesh Ambani-owned Reliance Industries, Paytm, capital market exchanges NSE and BSE are among top firms interested in securing licences to own and operate an entity with powers at a par with National Payments Corporation of India (NPCI), multiple sources aware of the development told.

from Banking/Finance-Industry-Economic Times https://ift.tt/35ffGXA
via

Axis Bank to acquire 30% of Max Life for ₹1,600 crore

India’s fourth-largest private sector bank will become a strategic partner of the life insurance firm, in which Max Financial will eventually hold 70% after a two-stage transaction.

from Banking/Finance-Industry-Economic Times https://ift.tt/2W9QKg2
via