Saturday, July 11, 2020


RBI remains net purchaser of dollar in Feb; buys $9.14 bn

The Reserve Bank of India (RBI) continued to be a net purchaser of the US dollar after it bought $9.144 billion in February on a net basis from the s...

ADB assures $2.2 bn support package to India

Asian Development Bank (ADB) President Masatsugu Asakawa assured Finance Minister Nirmala Sitharaman of $2.2 billion (about Rs 16,500 crore) support ...

India’s fuel consumption shrank by 18% in March

India's fuel consumption in March shrank by 18 per cent, the biggest decline in more than a decade, as a nationwide lockdown halted economic activity...

Centre to release another Rs 34,000 cr compensation to states soon

In a bid to provide further relief to states amid the coronavirus outbreak, the finance ministry is planning to soon release another about Rs 34,000 ...

BSNL extends availability of Rs 499 'Bharat Fiber' plan

BSNL introduced the Rs 499 Bharat Fiber broadband plan in India in February, and it offers 100GB data benefits with up to 20Mbps speeds. This plan wa...

Twitter CEO pledges $1 bn for COVID-19 relief effort

Twitter co-founder and chief executive Jack Dorsey said he was committing $1 billion (roughly Rs 7,600 crores) of his personal fortune to coronavirus...

India's gold imports plunge 73% in March

India's gold imports plunged more than 73% year-on-year in March to their lowest in 6-1/2 years as record domestic prices and a lockdown to curb the ...

SBI cuts savings rate to 2.75%

Country's largest lender SBI said it has cut savings rate by 0.25 per cent to 2.75 per cent on all deposits.The new rate will come into effect from A...

MRPL reduces production of diesel, petrol

With the number of vehicles on roads falling sharply in the lockdown period due to the coronavirus spread, the public sector Mangalore Refinery and P...

Italy injects record 400 bn euros into pandemic-hit economy

Italy has unveiled a record 400 billion euro ( USD 430 billion) stimulus to help businesses hurt by a month-long national lockdown that is like to ru...

U.S employment plunges in March amid worsening COVID-19 damage

As the U.S economy craters, crippled by coronavirus shutdowns, businesses jettisoned jobs at an alarming rate last month, government data showed Frid...

World Bank approves $1 bn emergency funds for India

The World Bank approved USD 1-billion emergency financing for India to tackle the coronavirus outbreak.The World Bank's first set of aid projects, am...

Current recession 'way worse' than financial crisis of 2008: IMF

The coronavirus pandemic has created an economic crisis 'like no other' — one that is 'way worse' than the 2008 global financial crisis, the In...

Global economy could shrink by almost 1% in 2020: UN

The global economy could shrink by up to one per cent in 2020 due to the coronavirus pandemic, a reversal from the previous forecast of 2.5 per cent ...

Canara Bank is now India's 4th largest public sector bank

Canara Bank said that following its merger with Syndicate Bank, it is now the fourth largest state-owned bank by assets.The bank said that the combin...

Azim Premji Foundation commit Rs 1,125 cr to tackle COVID-19 crisis

The Azim Premji Foundation along with Wipro Limited and Wipro Enterprises has committed Rs 1,125 crore to tackle the Covid-19 health crisis in India....

HDFC Bank offers loan deferment option to customers

HDFC Bank offered to defer EMIs in the wake of the coronavirus pandemic. The bank in an email to its customers said the prevailing situation may pose...

SBI, Bank of Baroda, announce EMI moratorium

Following the Reserve Bank of India (RBI) directive to banks on March 27 to provide a three-month moratorium on repayment of term loans, most public ...

GST mop-up in March at Rs 97,597 cr

Goods and Services Tax (GST) revenue in March stood at Rs 97,597 crore, lower than over Rs 1.05 lakh crore collected in February. Of the total Rs 97,...

Maruti reports 47% decline in March sales

Country's largest carmaker Maruti Suzuki India (MSI) reported a 47 per cent decline in sales at 83,792 units in March. The company had sold 1,58,076 ...

SBI cuts MCLR by 5-10 bps for shorter tenors

Canara Bank shares tank nearly 7%

Cooperative banks to be brought under RBI supervision

SBI cuts fixed deposit interest rates by 40 bps

HDFC Q4 net falls to Rs 2,233 cr

Small savings scheme, PPF rates remain unchanged

Gross tax collection falls 31% so far in June quarter

WPI inflation falls 3.21% in May

U.K economy shrinks 20.4% during April lockdown

German exports down nearly a quarter in April