Indian Overseas Bank (IOB) on Sunday said that it has reduced its interest rate on loans linked to MCLR by 30 basis points (bps) in overnight tenor and by 20...
Government has suspended expenditure on all new and approved public-funded schemes and projects of ministries during the current financial year in wake of Covid-19 pandemic that has put unprecedented demand...
The Reserve Bank on Friday announced the creation of a Payments Infrastructure Development Fund’ with an initial contribution of Rs 250 crore. Accordingly, the fund has been created to encourage...
Fallout from the COVID-19 pandemic will cost the US economy $7.9 trillion over the next decade, according to new projections released by the Congressional Budget Office (CBO). In response to...
Further widening the definition of micro, small and medium enterprises (MSME), the Union Cabinet on Monday announced that entities with turnover up to Rs 250 crore or investment up to...
The Reserve Bank of India’s decision to extend the moratorium on loan repayment by three more months will be credit negative for non-banking finance companies (NBFC), according to a report…
US equities posted solid gains during the holiday-shortened week, as investors weighed the possibility of normalizing economic activities. For the week ending Friday, the Dow advanced 3.8 per cent, the…
Canara Bank on Monday said that it has launched a special business vertical dedicated for gold loans. In a statement, the bank said that its gold loan products are designed…
The demand for personal care products and kitchen appliances saw a meteoric rise on e-commerce platforms as the government allowed the sale of non-essential items across zones (barring containment spots)…
Reliance Retail’s success in new commerce platform, JioMart could alter the industry dynamics, but execution holds the key and there are challenges, according to the brokerage firm, Jefferies. “We see…
Finance Minister Nirmala Sitharaman said there would be no new bankruptcy for the next year. Proposed changes to the bankruptcy code turn up a great relief for companies affected by…
Domestic brand Lava on Saturday announced that it is shifting the entire mobile R&D, design and manufacturing for the export market from China to India. It plans to invest Rs…
The Kingdom of Saudi Arabia has announced that it is planning to triple its value added tax (VAT) as part of austerity measures to boost the coronavirus-hit economy. According to…
Global remittances are projected to decline by about 20 per cent this year due to the COVID-19-induced economic crisis, the World Bank Group (WBG) said. The projected fall, which would…
SBI chairman Rajnish Kumar told a press conference in Mumbai that the SBI’s legal team has been doing due diligence on draft scheme proposed by RBI. The Reserve Bank on Friday…
