Reports had earlier said that the central government is considering a calamity cess on the Goods and Services Tax, similar to flood cess imposed by Kerala in June last year.
State-run Bank of Baroda on Saturday said it can offer up to Rs 12,000 crore in loans to MSMEs under the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) announced by the government.
A meeting of a Group of Ministers will take place at the residence of Defence Minister Rajnath Singh at 5 p.m. on Saturday. This is the second such meeting of the ministers in six days. The last one was held on May 18.
In order to meet the temporary liquidity mismatch arising out of COVID-19 outbreak, Canara Bank has announced 'CANARA CREDIT SUPPORT' for all of their borrowers who have been affected by COVID-19.
Budget carrier GoAir is likely to resume domestic flight services from June 1, owing to certain "operational and regulatory" issues, sources said on Friday. Minister of State for Civil Aviation Hardeep Singh Puri had on Wednesday announced, through Twitter, that commercial passenger services on domestic routes will be allowed to operate from May 25 under a comprehensive Standard Operating Procedure (SOP), covering all stakeholders.
The Reserve Bank, which has been operating from a war-room at a secret facility here since March 19 with skeletal staff, has increased the deployed manpower to 150 now, as the monetary authority continues to insulate the nation's financial system from the disruptions due to the coronavirus pandemic.
Finance Minister Nirmala Sitharaman on Friday held a review meeting with CEOs of public sector banks (PSBs) and asked them to implement the mega 'Aatmanirbhar' relief package to revive the COVID-hit economy.
M P Birla Group firm Birla Corporation on Friday reported 52 per cent rise in March quarter consolidated net profit at Rs 194.73 crore, helped by lower fuel costs and improvement in efficiency and cost rationalisation.
Reserve Bank of India's announcement to cut repo rates and extend moratorium is 'progressive' and focuses more on developmental and regulatory policy measures, the Southern India Chamber of Commerce and Industry said on Friday.
Hours after the Reserve Bank of India (RBI) extended the moratorium on repayment of loans for three months on Friday, Union minister Hardeep Singh Puri said this step will offer relief to aviation sector companies like airports, airlines and ground handlers and help them improve their cash flow position.
Equity benchmark BSE Sensex tumbled 260 points on Friday, dragged by losses in banking and financial stocks as RBI's rate cut and other measures to prop up the economy failed to meet market expectations.
Tomato prices in consuming centres of Delhi, Bengaluru and Hyderabad fell below three-year lows, in the range of Rs 4-10 per kg on Friday in the wholesale markets on higher arrival, according to official data.
The Reserve Bank of India (RBI) will extend a credit line of Rs 15,000 crore to the Export-Import (EXIM) Bank of India. The announcement is part of the RBI's latest measures to help businesses and the economy tide over the coronavirus crisis.
Central Board of Direct Taxes on Friday has issued tax refunds worth Rs. 26,242 crore to 16,84,298 tax assesses since April 1 to May 21, 2020 and corporate tax refund to 1.02 lakh assesses amounting to Rs 11,610 cr given during this period.
Air India has started taking bookings for domestic flights starting Monday, May 25. Union Civil Aviation Minister Hardeep Singh Puri on Thursday announced that the air fares for flights will have a capped upper and lower limit in price.
Moody's Investors Service said on Friday that economic damage as a result of India's coronavirus lockdown will likely be extensive and reflect the country's inherent economic vulnerability and fiscal constraints.
According to a study, 98 per cent of the grocery retail market in India is now controlled by Kirana stores and during the lockdown, many of the local stores have benefitted due to increase in customer footfall. Often people ended up paying more than the MRP during mid-March and April.
Post the announcement of lockdown 4.0, many things have changed. Especially the restrictions under 5 different zones (Containment, Buffer, Red, Orange and Green Zone) changed the demand for work from home so far.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that the Monetary Policy Committee, in an unscheduled meeting, cut policy repo rate by 40 basis points to 4.0%, adding GDP is estimated to contract in current fiscal.
Buying in Reliance Industries offset the negative sentiment in the market as the scrip jumped over 1 per cent after the company announced the sale of a 2.32 per cent stake in its digital unit to US private equity giant KKR for Rs 11,367 crore.
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