RBI extends loan moratorium by 3 months
May 22, 2020 10:47 ISTThe Reserve Bank of India has extended the loan moratorium by another three months in light of the extended state of lockdown in the country.
The Reserve Bank of India has extended the loan moratorium by another three months in light of the extended state of lockdown in the country.
RBI Governor Shaktikanta Das in a presser amid lockdown situation in the country due to the outbreak of coronavirus which has impacted businesses at large said that they are expecting normalcy to return in the second half of the year.
Loan EMIs are set to get cheaper as RBI cuts repo rate by 40 bps to 4 per cent. "The repo rate cut by 40 basis points from 4.4 % to 4%. Reverse repo rate stands reduced to 3.35%," RBI Governor Shaktikanta Das said in a press conference on Friday.
RBI Governor Shaktikanta Das on Friday announced a reduction in repo rate by 40 basis points from 4.4 % to 4% while reverse repo rate stands reduced to 3.35%.
American Investment pioneer Goldman Sachs has predicted that India's GDP could rise 20 per cent after the lockdown. The predictions by Goldman Sachs, stated in The Economist, have made claims about the third quarter 2020.
In a big relief for passengers, Indian Railways opens its reservation counters at select stations for booking of only reserved tickets from today, nearly two months after they were shut due to the coronavirus lockdown. Railway Minister Piyush Goyal also said an announcement on the resumption of more trains will be made soon.
Reliance Industries Limited (RIL) and Jio Platforms Limited, India's leading digital services platform, on Friday 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, the fifth deal in four weeks that will inject a combined Rs 78,562 crore in the oil-to-telecom conglomerate to help it pare debt.
The Reserve Bank of India (RBI) Governor Shaktikanta Das addressed a press conference on Friday. The briefing comes days after Finance Minister Nirmala Sitharaman had given the details of the Rs 20 lakh crore economic relief package announced by Prime Minister Narendra Modi last week.
Bharti Airtel on Thursday said that it has acquired a 10 per cent stake in Voicezen, an early stage startup focused on conversational AI technologies.
Leading food delivery platforms Swiggy and Zomato have started home delivery of alcohol in Ranchi and plan to expand the service to other cities as efforts continue to prevent overcrowding of people at shops amid the coronavirus pandemic.
Businesses in Maharashtra are the most impacted because of the COVID-19 crisis, a study said on Thursday. The western state was followed by Delhi and Gujarat in the business impact rankings released by Dun & Bradstreet.
Diversified financial services group Indiabulls Group has asked nearly 2,000 employees to resign from the company. The Group, however, said this was part of the annual attrition cycle and claimed these were not lay-offs.
Now that the government has decided to resume domestic flight operations in the country after two months of grounding, it is also making sure that the fares don't jump out of control. A Delhi-Mumbai flight ticket will cost you upto ₹10,000. Here is how flight tickets will be priced.
Equity benchmark Sensex rose 114 points on Thursday as investors accumulated FMCG, auto and IT stocks amid gradual reopening of the economy.
Silver futures on Thursday plunged Rs 753 to Rs 48,305 per kg as participants cut down on their bets on low demand.
Gold futures on Thursday fell 0.75 per cent to Rs 46,776 per 10 gram as participants offloaded their holdings following weak trend overseas.
A day after announcing the resumption of domestic commercial passenger flights from May 25 onwards, the Civil Aviation Ministry on Thursday issued detailed guidelines for airlines, airports, passengers and other stakeholders on issues ranging from control on air-fares to restrictions on number of bags.
South Korean major Samsung on Thursday announced it has partnered with Facebook to train offline retailers in digital marketing and grow their businesses online across Facebook family of apps in the social distancing times.
In a first of it's kind service, food delivery giant Swiggy has started taking online booking for home delivery of alcohol in the state of Jharkhand. Swiggy announced on Thursday said it has started home delivery of alcohol in Ranchi and is in talks with various state governments to provide support with online processing and home delivery of alcohol in their states.
Bajaj Allianz Life is not expecting significant growth for insurance industry this year due to coronavirus impact on the economy, a top company official has said. However, the insurer said, customers will like to buy policies online
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