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Railways gear up to resume services from April 15 NewIndianExpress
The Indian Railways, which had announced closure of all passenger, mail and express train services from March 24 to April 14 in a bid to stop the chain of transmission of novel coronavirus (Covid-19), has started preparation to resume all its services from April 15, sources said on Saturday.
'India may post lowest growth in post-reform period in FY21' Economic Times
Indian economy, which was already in slowdown phase for last six quarters, could register the lowest growth in the post-reform period in 2020-21 despite strong monetary and fiscal stimulus measures, an eminent economist said on Friday.
No final decision on resumption of services yet: Railways as zones prepare restoration plans Economic Times
Railways on Saturday said no final decision has been taken yet on restoration of train services and that a call on it would be taken in a few days.
RBI offers Rs 11,772 crore to banks through repo auction Money Control
The Reserve Bank of India on Thursday offered Rs 11,772 crore to banks through a 12-day variable rate repo auction. Before the auction, the RBI enhanced the amount of auction to Rs 50,000 crore from Rs 25,000 crore, announced earlier.
Moody's slashes India GDP growth in 2020 to 2.5% Money Control
Moody's Investors Service on Friday slashed its estimate of India's GDP growth during 2020 calendar year to 2.5 percent, from an earlier estimate of 5.3 percent and said the coronavirus pandemic will cause unprecedented shock to the global economy.
Sensex up 1,000 points, Nifty reclaims 9,000 mark ahead of RBI Governor's presser News18
Indian benchmark indices opened in green with Nifty above 9,000 level and Sensex up by 3.60% on Friday, hours ahead of RBI Governor Shaktikanta Das's press conference.
Gold prices today fall after rising about ₹4,000 per 10 gram in 4 days Surajit Dasgupta, Mint
Gold prices in India fell today, tracking a decline in global rates and an appreciation of the rupee against the US dollar. April gold futures on MCX were down 0.8% to ?43,195 per 10 gram, after they rose 3% or about ?1,300 per 10 gram in the previous session. June gold futures were today down 0.5% to ?43,420.
Reliance to pay twice to those employees who earn below ₹30,000 Anulekha Ray, Mint
Reliance Industries Limited (RIL) announced a slew of measures to fight against deadly coronavirus infection spread across the country. Those who earn below ?30,000 per month, will get their salaries twice a month in the wake of coronavirus outbreak.
Facebook wanted to buy 10% of Reliance Jio: Report Gopal Sathe, NDTV
Facebook was reportedly in talks with Reliance Jio to purchase 10% of the Indian telco, according to a report in the Financial Times. According to the paper, this 10% stake was being valued in billions of dollars. The report also added that aside from the social media giant, Reliance Jio was also in separate talks with Google.
Flipkart suspends services due to lockdown Money Control
Walmart Inc's Flipkart has suspended services, a notice on the Indian e-commerce firm's website said on Wednesday, as India began a 21-day lockdown to fight the spread of the coronavirus pandemic.
ITR, GST filing, Aadhaar-PAN linking deadlines extended: Nirmala Sitharaman Nikhil Agarwal, Mint
Union Finance Minister Nirmala Sitharaman today announced various statutory and regulatory compliance relief measures amid a complete shutdown almost all over the country to control the spread of the highly contagious coronavirus or Covid-19 infection.
Gold price hits Rs 42,000 per 10 gram, silver up by Rs 3,475 per kg Sandeep Sinha, Money Control
The price of gold jumped Rs 1,528 to touch Rs 42,247 per 10 gram in Mumbai bullion market on a weaker dollar, but the gains were capped by a stronger rupee. The major gold trading centres have been shut due to the lockdown announced by state governments to prevent the spread of coronavirus disease with only online sales taking place.
RBI to inject Rs 30k cr more via bond buys to boost liquidity Economic Times
India’s central bank Friday walked the talk on doing whatever it takes to contain the economic impact of covid-19 by injecting more liquidity just days after Governor Shaktikanta Das cemented Mint Road’s credentials as a responsive regulator, assuring the man on the street about the safety of his savings at Yes Bank.
Yes Bank PMLA case: Anil Ambani questioned by ED for 9 hours, called again on March 30 Pioneer
The ED on Thursday questioned Reliance Group Chairman Anil Ambani for about nine hours in connection with a money laundering probe against Yes Bank promoter Rana Kapoor and others, officials said. The Enforcement Directorate (ED) has asked the businessman to appear before it again on March 30.
Gold prices today fall sharply again, down for seventh day in eight Surajit Dasgupta, Mint
Gold prices saw a sharp fall today in Indian markets, continuing their recent weakness. On MCX, April gold futures fell 1.4% or about ?554 to ?39,169 per 10 gram, their seventh day of decline in eight. Silver however edged higher with futures on MCX rising 0.21% to ?33,978 per kg.
Telecom sector moving towards duopoly, say brokerages Nishant Kumar, Money Control
Shares of telecom player Bharti Infratel cracked up to 19 percent in morning trade on BSE on March 19, a day after the Supreme Court of India refused to offer any further relief to the telecom companies with regards to the AGR dues.
Yes Bank co-founder Kapoor's ED remand extended till March 20 Pioneer
A special court here on Monday Extended till March 20, the Enforcement Directorate (ED) custody of Yes Bank co-founder Rana Kapoor, arrested on money laundering charges. The former MD and CEO of the private lender was arrested by the ED here on March 8 under provisions of the PMLA (Prevention of Money Laundering Act) as he was allegedly not cooperating in the probe related to the crisis at Yes Bank which has been placed under moratorium by the RBI.
RBI hints at rate cut in April 3 policy meet, announces more liquidity measures Pioneer
The Reserve Bank on Monday hinted at a rate cut at the next Monetary Policy Committee (MPC) meet on April 3 and announced more liquidity enhancing measures.
Yes Bank: ED summons top corporate honchos for questioning this week Pioneer
The ED has summoned top corporate honchos, including Essel Group promoter Subhash Chandra, Jet Airways founder Naresh Goyal and Indiabulls chairman Sameer Gehlaut, to appear before it this week in connection with its money laundering probe against Yes Bank promoter Rana Kapoor and others, officials said on Monday.
We have deep pockets and completely back IndusInd Bank: Ashok Hinduja Saloni Shukla, Economic Times
It is clear that since the IL&FS issue there has been a significant slowdown in the financial space, we went through a period of liquidity crunch for NBFCs, there has been bad news on the economic growth front as well and corporates have stopped expansion. This whole situation has given rise to punters who are using a few people for speculation, but it’s hard to catch them.
Gold price falls below Rs 40,000 mark; silver tumbles Rs 6,445 per kg Sandeep Sinha, Money Control
Gold prices extended fall for the fifth consecutive day to Rs 39,995 per 10 gram in the Mumbai bullion market on profit booking as investors prefer to sit on cash. The yellow metal also came under pressure owing to the unwinding of long positions after a hike in margin calls forced traders to reduce their positions and cover losses in other asset classes.
Corona scare: FPIs press panic button, withdraw Rs 37,976 cr from Indian mkts Pioneer
Foreign portfolio investors (FPIs) have withdrawn a whopping Rs 37,976 crore on a net basis from the Indian markets in March so far amid the coronavirus pandemic triggering fears of a global recession. Overseas investors pulled out a net sum of Rs 24,776.36 crore from equities and Rs 13,199.54 crore from the debt segment between Mar 2-13, depositories data showed.
RBI issues new rules for Debit/ credit cards Siasat
The new rules for debit and credit cards to increase security and reduce frauds kick in from Monday. In January, the Reserve Bank of India (RBI) had issued new rules to improve user convenience and increase the security of card transactions. These rules will help in curbing the misuse of debit and credit cards.
Yes Bank crisis: ED summons Anil Ambani in connection with probe against Rana Kapoor Business Today
Reliance Group Chairman Anil Ambani has been summoned by the Enforcement Directorate (ED) in connection with the probe against Yes Bank founder Rana Kapoor. With an exposure of Rs 14,000 crore, Reliance Group is one of the largest borrowers of the bank.
SBI Cards shares edge closer to issue price after weak listing Surajit Dasgupta, Mint
SBI Cards made a weak debut on exchanges today with shares opening at ?661 on NSE, about 12% discount as compared to its issue price of ?755, amid a selloff in broader markets. But later SBI Cards shares pared most of its losses and were trading flat at ?750.
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