Indian Banks Association sends proposal to govt, RBI for setting up of 'Bad Bank'
May 12, 2020, at 11:01 pm
Mumbai/IBNS: Indian Banks Association (IBA) has sent a proposal to set up a 'Bad Bank' to the Finance Ministry and the Reserve Bank of India (RBI), said a CNBC-TV18 report. A Bad Bank is named so as it houses all bad loans or non-performing assets.
Lockdown Impact: IIP for March shrinks by record margin of 16.7%
May 12, 2020, at 10:43 pm
New Delhi/ IBNS: India's factory output shrank by a record 16.7 per cent in March 2020 as a result of minimal economic activity due to nationwide lockdown imposed to contain the spread of coronavirus.
PM Modi's Rs 20 lakh crore package calls for self-reliance to lift national spirit: ASSOCHAM
May 12, 2020, at 10:38 pm
New Delhi/IBNS: ASSOCHAM on Tuesday profusely thanked Prime Minister Narendra Modi for lifting the national spirit up, not only with his Rs 20 lakh crore economic package but also laying a broad direction for the country's development , based on a Self-Reliant India, standing tall in the evolving new world order.
Glenmark Initiates Phase 3 Clinical Trials on Antiviral Favipiravir for COVID-19 Patients in India
May 12, 2020, at 07:55 pm
MUMBAI/PRNewswire -- Glenmark Pharmaceuticals, a research-led, integrated global pharmaceutical company has initiated Phase 3 clinical trials in India on Antiviral tablet Favipiravir, for which it received approval from India's drug regulator DCGI in late April. Glenmark is the first company in India to initiate Phase 3 clinical trials on Favipiravir for COVID-19 patients in India. Favipiravir is a generic version of Avigan® of Fujifilm Toyama Chemical Co. Ltd., Japan, a subsidiary of Fujifilm Corporation. Clinical trials have commenced and over 10 leading government and private hospitals in India are being enrolled for the study. Glenmark estimates study completion by July/August 2020.
-1589291697.jpg "Bandhan Bank FY20 net profit shoots up by more than 54 pc")
Bandhan Bank FY20 net profit shoots up by more than 54 pc
May 12, 2020, at 07:25 pm
Kolkata/UNI: Bandhan Bank FY20 net profit has grown 54.96 per cent (YoY) at Rs3,024 crore after taking COVID-19 provision on standard advances amounting to Rs 690 crore and deposit increased by 32.04 per cent (YoY) to Rs57,082 crore.
May 12, 2020, at 05:45 pm
New Delhi/IBNS: India enjoys 18 per cent share in Tanzanian imports and 14 per cent share in Tanzanian exports, said Sanjiv Kohli, High Commissioner to Tanzania, in an interactive webinar on 'India-Tanzania Business Promotion, Challenges and Opportunities – Post COVID19'.
Indian Market: Sensex down by 190.10 pts
May 12, 2020, at 04:38 pm
Mumbai/UNI: The benchmark index of Bombay Stock Exchange slipped further by 190.10 pts on Tuesday to settle at 31,371.12 in highly volatile trade on heavy selling in Energy, Oil and Gas, Capital Goods, Bankex, Industrials and Health Care stocks amid positive European cues.
Indian Rupee down 18 paise against USD
May 12, 2020, at 12:13 pm
Mumbai/UNI: The Rupee declined further by 18 paise to 75.92 on Tuesday in opening trade against the US Dollar on rising demand for US dollar by bankers and importers, dealers at Forex Market said.
The Time to Secure Your Financial Future Is Now: 4 Alternatives to Stock Market Investments
May 12, 2020, at 11:47 am
Stocks are usually what the general public invest their money in, not knowing that there are alternatives out there. In fact, there are even better investments out there that could provide a larger rate of return, if they’re invested into properly. Most people just aren’t aware that these options exist and could be placing their money in something more stable and financially sound than the stock market.
Indian Market: Sensex down by over 400 pts
May 12, 2020, at 10:50 am
Mumbai/UNI: The benchmark index of Bombay Stock Exchange lost another 404 points to 31,156.95 in early trade on Tuesday as heavy selling was witnessed in Finance, Bankex, Auto and Capital Good s stocks amid negative global cues.
Redington to offer new iPhone SE; phone packs in A13 Bionic, Portrait mode, and more
May 11, 2020, at 08:15 pm
Kolkata/IBNS: Redington, which provides distribution and other solutions to companies, said it will retail the new iPhone SE.
Indian Rupee down by 20 paise against USD
May 11, 2020, at 03:58 pm
Mumbai/UNI: The Rupee on Monday slipped by 20 paise to close at 75.74 against the USD, on rising demand for US Dollar by bankers and exporters dealers at the forex market informed.
Panasonic India resumes sales in the country
May 11, 2020, at 03:51 pm
Kolkata/UNI: Panasonic India, a diversified technology company, today announced that it has resumed sale of its products where allowed as per Govt guidelines.
COVID-19 lockdown: Colombian airline Avianca files for bankruptcy
May 11, 2020, at 12:57 pm
Bogota/IBNS: Reflecting the trouble faced by the aviation sector owing to lockdown imposed by countries to counter COVID-19 outbreak, Colombia's national airline, Avianca, has filed for bankruptcy protection in a US court.
Indian Rupee opens weak by 5 paise against USD
May 11, 2020, at 10:56 am
Mumbai/UNI: The Rupee on Monday fell by five paise to 75.59 against the US Dollar in opening session on rising demand for US dollar by bankers and importers, dealers at Forex Market said.
Indian Market:Â Sensex rallies by 489 pts
May 11, 2020, at 10:52 am
Mumbai/UNI: The benchmark index of Bombay Stock Exchange on Monday spurted by 489 pts, to 32,132.69 in early trade on brisk buying in Auto, Energy, IT and Consumer Durable stocks amid positive global peers.
May 10, 2020, at 06:03 pm
Guwahati/IBNS: Assam government has collected over Rs 100 crore as revenue from liquor sales in the state in last five days after the liquor shops were allowed to open as part of the nationwide lockdown relaxations.
Indian Economy: Sensex slumps 2074.92 points during week
May 09, 2020, at 01:29 pm
Mumbai/UNI: The benchmark Index of Bombay Stock Exchange crashed by 2,074.92 points or 6.15 pc to settle at 31,642.70 in the week under review amid high volatility following a rapid increase in new cases of coronavirus in last few days, played the spoilsport.
COVID-19 lockdown measures will worsen poverty, vulnerabilities among informal economy workers: ILO
May 09, 2020, at 12:19 pm
Geneva/IBNS: COVID-19 lockdown and containment measures threaten to increase relative poverty levels among the world’s informal economy workers by as much as 56 percentage points in low-income countries, says a new briefing paper issued by the International Labour Organization.
COVID-19 economic impact: CII bats for an immediate stimulus package of Rs 15 lakh crore
May 09, 2020, at 10:04 am
New Delhi/IBNS: Top industry body The Confederation of Indian Industry (CII) on Friday said a stimulus package of Rs 15 lakh crore is needed to tackle the impact of a prolonged lockdown on the country's economy.
Indian Rupee up by 22 paise against USD
May 08, 2020, at 05:53 pm
Mumbai/UNI: The Rupee on Friday rallied by 22 paise to close positive at 75.54 against the USD, on the selling of US Dollar by bankers and exporters dealers at the forex market informed.
Hindustan Unilever moves up by 4.81 pc to Rs 2088.35
May 08, 2020, at 05:51 pm
Mumbai/UNI: Hindustan Unilever on Wednesday surged by 4.81 pc to Rs 2088.35 was the major gainer in 30 scrips of BSE.
Indian Market: Sensex recovers 199.32 pts
May 08, 2020, at 05:23 pm
Mumbai/UNI: The benchmark index of Bombay Stock Exchange on Friday recovered by 199.32 pts to close at 31,642.70 following gains in Energy, FMCG, Health care, Technology and IT stocks amid positive global peers.
Bitcoin Price Surpasses $10,000 for First Time Since February 19 – Trading Data
May 08, 2020, at 03:44 pm
Moscow/Sputnik/UNI: The price of the most popular cryptocurrency, Bitcoin, rose on Friday to more than $10,000 for the first time since February 19, the trading data showed.
JK Tyre partially resumes operations in India
May 08, 2020, at 03:43 pm
New Delhi/IBNS: Indian tyre industry major and the pioneer of radial tyre technology in the country, JK Tyre & Industries Ltd, on Friday announced partial resumption of operations after adhering to the guidelines issued by the Ministry of Home Affairs, Government of India and permissions granted by the respective state governments and local authorities.
Uber reports losses of 2.9 bln USD in first quarter
May 08, 2020, at 03:40 pm
San Francisco/Xinhua: US ride-hailing company Uber Technologies on Thursday announced its first-quarter financial results of 2020, with 3.54 billion U.S. dollars of revenue and 1.7 dollars of loss per share.
Indian Rupee opens strong at 75.40 versus by USD
May 08, 2020, at 12:20 pm
Mumbai/UNI: The Rupee on Friday advanced by 36 paise to 75.40 against the US Dollar in opening session on selling of US dollar by bankers and exporters, dealers at Forex Market said.
Indian Market: Sensex surges over 600 pts
May 08, 2020, at 11:53 am
Mumbai/UNI: The benchmark index of Bombay Stock Exchange on Friday rallied by 645 pts, breaching 32k level to 32,088.51 in early trade as buying was witnessed across the board amid positive Asian Market.
US-based firm Vista Equity Partners to invest Rs 11,367 crore in Reliance Jio Platforms
May 08, 2020, at 09:32 am
Mumbai/IBNS: Reliance Industries Limited on Friday announced that US-based Vista Equity Partners will invest Rs 11,367 crore in Jio Platforms.
May 07, 2020, at 07:22 pm
Jaipur/IBNS: ICICI Bank, one of India's key private lenders, collaborated with Rajasthan government to provide protective equipment to district administrations, municipal corporations, hospitals and police departments working to combat the pandemic.