SBI to institute work-from-anywhere infrastructure, hopes to save Rs 1,000 cr
Mumbai: Amid COVID-19 induced disruption, the country’s largest lender State Bank of India (SBI) will institute work-from-anywhere infrastructure and expects to save Rs 1,000 crore from this measure, Chairman Rajnish Kumar said. Speaking to shareholders at the bank’s 65th annual general meeting on Tuesday, he said the focus going forward will be on cost reduction, […]
Kissan Pakhwada: Dir Horti reviews coverage of stakeholders under CSS
SRINAGAR: Director Horticulture Kashmir, Ajaz Ahmed Bhat Monday reviewed the coverage of farmer community under various Centrally Sponsored Horticulture Sector schemes during ongoing ‘Kissan Pakhwada’ in Kashmir. Regarding the celebration of ‘Kisan Pakhwada’ from July 7 to July 21, 2020, instructions were given to concerned officers to ensure maximum participation of all stakeholders and cent […]
40th India Carpet Expo ‘Virtual Exhibition’ from Aug 21
SRINAGAR: In a first, Carpet Export Promotion Council (CEPC) is all set for launching 40th India Carpet Expo in virtual mode from 21st to 25th August, 2020. The expo is the first of its kind initiative to bridge the gap between Indian products and demand of Handmade Carpets and floor coverings across the globe in […]
‘National Bank provides Rs 462 crore for execution of 139 projects in J&K last fiscal’
39th Foundation-Day of NABARD
JAMMU: National Bank for Agriculture & Rural Development (NABARD) provided Rs 462 crore in 2019-20 for execution of 139 projects in Jammu & Kashmir, reads a communiqué issued by DIPR-JK. In the midst of ongoing pandemic, NABARD has stepped into its 39th year of formation on July 12, 2020, even as it has made path […]
Indian GDP to contract 7.5% if COVID vaccine is delayed, 4% in base case: Report
Mumbai: A longer wait for a vaccine against COVID-19 virus may lead to a contraction of up to 7.5 per cent in the Indian GDP in FY21, a foreign brokerage said on Monday. Economists at Bank of America Securities also revised down their base case estimates on the real GDP within a week, and now […]
Non-financial services sector may take 25% hit in revenue amid COVID-19 disruptions: Survey
New Delhi: Non-financial services sector may witness up to 25 per cent fall in revenue and business disruptions of up to 12 months on account of the COVID-19 pandemic, says a survey. More than 200 leading senior representatives from organisations operating in the non-financial services domain in the country participated in the Protiviti India’s Business […]
Google to invest Rs 75,000 crore in India over 5-7 years
New Delhi: Google chief executive Sundar Pichai on Monday announced plans to invest Rs 75,000 crore in India over the next five to seven years to help accelerate the adoption of digital technologies in the country. India-born Pichai, who held a virtual meeting with Prime Minister Narendra Modi on Monday morning, made the announcement at […]
Nabard to provide bank refinance of Rs 5,000 cr for watershed development projects
Mumbai: The National Bank for Agriculture and Rural Development (Nabard) on Monday announced Rs 5,000 crore of refinance scheme for banks and financial institutions for providing finance to the beneficiaries of its 2,150 watershed development projects. The development finance institution also earmarked another Rs 5,000 crore for turning Primary Agricultural Credit Societies (PACS), building blocks […]
Stressed NBFCs, HFCs seek about Rs 10,000-cr financing support under special liquidity scheme
New Delhi: The finance ministry on Sunday said financing requests of close to Rs 10,000 crore have been received under the special liquidity scheme worth Rs 30,000 crore for stressed NBFCs and HFCs whose financials further deteriorated due to the COVID-19 crisis. The scheme was launched on July 1. The Reserve Bank of India (RBI) […]
Ficci survey estimates FY21 GDP growth to be in negative territory
New Delhi: Industry body Ficci on Sunday said its Economic Outlook Survey has projected the country’s annual median GDP growth for 2020-21 at (-) 4.5 per cent. With the rapid spread of COVID-19 pandemic manifesting into an economic and healthcare crisis globally, the latest forecast marks a sharp downward revision from the growth estimate of […]
