Economy News

RBI Monetary Policy: MPC maintains status quo, repo rate intact at 4%

Accordingly, the repo rate or short-term lending rate for commercial banks and reverse repo rate remain unchanged at 4 per cent and 3.3 per cent, respectively.

Aug 6, 2020

Amid inflation pressure will RBI Gov Shaktikanta Das risk slashing repo rates

Amid rising inflation concerns in times of the pandemic, economists predict RBI could ease monetary policy now. This, by cutting the repo and reverse repo rates by at least 25 bps to 3.75% and 3.10% respectively.

Aug 3, 2020

Covid impact: GST collection drops 14% to Rs 87,422 cr in July

Only in June GST collections recovered to touch Rs 90,917 crore.

Aug 1, 2020

'Forced decoupling' of economies will hurt both, China warns India

China warned on Thursday that a "forced decoupling" of its economy with India, following a Himalayan border clash last month that killed 20 Indian soldiers, would hurt both countries.

Jul 31, 2020

COVID impact: IndiGo's net loss at Rs 2,844.3 cr in Q1FY21

InterGlobe Aviation which runs airline major under the brand name of IndiGo on Wednesday posted its highest ever quarterly net loss at Rs 2,844.3 crore for the first-quarter of 2020-21.

Jul 30, 2020

EPFO witnesses huge withdrawal in lockdown months, highlights grim economic picture

In line with the latest trend, EPFO estimates that nearly 10 million would withdraw from their saving in coming days.

Jul 28, 2020

India, US closing in on limited trade deal: Piyush Goyal

India is seeking concessions for generic drugs it exports to the United States in return for opening its dairy markets and slashing tariffs on farm goods as the two sides seek to clinch a new trade accord, three sources told Reuters.

Jul 22, 2020

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Sensex, Nifty gain as HDFC Bank adds to earnings momentum; financials shine

Indian shares climbed on Monday as HDFC Bank added to last week's strong earnings releases from IT companies, countering the impact of the surge in domestic coronavirus cases past one million.

Jul 20, 2020

EC Ashok Lavasa appointed as Vice President of Asian Development Bank

Election Commissioner Ashok Lavasa will be looking after the Private Sector Operations and Public-Private Partnerships.

Jul 15, 2020

Covid-19 pandemic knocks Singapore into recession with record 41.2% GDP plunge

Gross domestic product (GDP) dived by a record 41.2 per cent in the three months ended March, on a quarter-on-quarter annualised basis, the Ministry of Trade and Industry said.

Jul 14, 2020

Annual IMF, World Bank meetings to be held virtually

The 2020 annual meetings of the International Monetary Fund (IMF) and the World Bank Group will likely be held in a primarily virtual format due to the ongoing COVID-19 pandemic, the leaders of the two institutions announced.

Jul 10, 2020

Punjab National Bank reports Rs 3,688 crore DHFL loans as fraud

In a regulatory filing, the State-run Punjab National Bank said that it has already made provisions amounting to Rs 1,246.58 crore.

Jul 10, 2020

Yes Bank case: ED attaches Rs 2,203 cr assets of Rana Kapoor, others

The ED had earlier filed a charge-sheet in the case against Kapoor, his daughter Roshni Kapoor - promoter of DoIt Urban Ventures (India), DHFL's Kapil R. Wadhawan, Dheeraj R. Wadhawan, and other entities, like Belief Realtors and RKW Developers.

Jul 9, 2020

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Sensex, Nifty rise as focus shifts to corporate earnings

The NSE Nifty 50 index rose 0.64% to 10,774.50 by 0511 GMT, while the benchmark S&P BSE Sensex climbed 0.67% to 36,570.32.

Jul 9, 2020

ICICI Bank announces 8% pay hike for 80,000 employees during coronavirus pandemic

As many as 80,000 employees form more than 80 per cent of its overall workforce and the decision has been taken in recognition of the services rendered during the novel coronavirus pandemic, the sources told.

Jul 8, 2020

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