Indian economy showing signs of returning to normalcy: RBI Governor
Mumbai: The Indian economy has started showing signs of returning to normalcy in response to the staggered easing of lockdown restrictions, RBI Governor Shaktikanta Das said on Saturday. He further said the need of the hour is to restore confidence, preserve financial stability, revive growth and recover stronger. “The Indian economy has started showing signs […]
ED raids Delhi-NCR travel firms, CAs for suspected e-visa fraud; seizes over Rs 3.50-cr cash
New Delhi : The Enforcement Directorate has seized Rs 3.57-crore cash after raiding tours and travel firms and their CAs in Delhi-NCR to probe alleged irregularities in processing of e-visa applications for foreigners wishing to travel to India. The central probe agency said on Saturday it raided eight locations in Delhi and Ghaziabad on July […]
Traders’ body protests after Chinese JV bids for 44 Vande Bharat trains
New Delhi : In a letter to Railway Minister Piyush Goyal, the Confederation of All India Traders (CAIT) has urged that a Chinese firm be disallowed from participation in bids, a day after it emerged as the only foreign player for the Railways’ global tender for its ambitious semi-high speed indigenous Train 18 project. CRRC […]
Top 5 pvt banks stare at NPAs doubling to 5% in FY21
Mumbai: Top five private sector banks may see their slippages double to 5 per cent this fiscal due to the poor loan offtake and the moratorium-driven contraction in net interest margins, warns a report. These five banks — HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank and IndusInd Bank — collectively control a quarter […]
Banks sanctions about Rs 1.20 lakh crore loans to MSMEs under credit guarantee scheme
New Delhi : The finance ministry on Friday said banks have sanctioned loans of about Rs 1,20,099 crore under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector reeling under economic slowdown caused by the COVID-19 pandemic. However, disbursements against this stood at Rs 61,987.90 crore till Thursday (July 9) […]
India’s economic recovery started from June: SBI chairman
Kolkata: The country’s economy, which witnessed a disruption due to the coronavirus outbreak, has started recovering from June, State Bank of India’s Chairman Rajnish Kumar said on Friday. Speaking at the SBI Banking and Economics Conclave, Kumar said there is a need to wait for three to four months to see the trend of the […]
Modi woos global cos with investment-friendly business environment
New Delhi: Wooing global companies, Prime Minister Narendra Modi on Thursday said his government’s self-reliant India campaign is not about being closed to the world and Asia’s third-largest economy continues to be one of the most open in the world that offers investment-friendly and competitive business environment. Speaking at the India Global Week 2020, he […]
Code on Wages likely to be implemented by Sept, Labour Min circulates draft rules
New Delhi: The Code on Wages, 2019, the first law under labour reforms, is likely to be implemented by September as the Ministry of Labour and Employment has put draft rules of the law in public domain for feedback, a senior official said. Parliament in August last year approved the code to enable introduction of […]
Finance Ministry asks states to ensure safety of bankers
New Delhi: The Finance Ministry has requested states to ensure safety and security of bank officials and take stern action against perpetrators following incidences of attack on bankers in some parts of the country in the recent past. The Department of Financial Services, in a letter to chief secretary of states, said that incidences of […]
Calibrated approach needed to reduce imports from China: SBI report
Mumbai,: India needs a calibrated approach to reduce imports from China as the neighbouring country has slowly and steadily built a solid base in both high and low-value imports into the country, a report by SBI said. The report also said that the decision of the government to ban 59 Chinese apps will provide space […]
