Economy

Sequential pickup in H2 Nomura is lowering is 2020 GDP growth forecast in India to -0.5% y-o-y from 4.5%, citing various impacts of coronavirus crisis including further financial stress in the banking sector. “We now expect GDP growth to slide...

CCEA approves Rs.670 crore as Govt share The Cabinet Committee on Economic Affairs has approved continuation of the process of recapitalization of Regional Rural Banks (RRBs) by providing minimum regulatory capital to RRBs for another year beyond 2019-20 to 2020-21....

Merged banks from 1 Apr 2020 The Reserve Bank of India (RBI) on Saturday approved the merger of several public sector banks from 1 April 2020, starting with Allahabad Bank functions and operations under Indian Bank. Likewise, the Syndicate Bank...

Extend 2015-2020 Foreign Trade Policy The Federation of Indian Export Organizations (FIEO) has raised points with the Commerce and Industry Minister Piyush Goyal on 27 Mar 2020 through videoconference. These were: Home Ministry: 1.     All manufacturing companies in exports should...

Aggarwal: Banks have Rs.3.74 lakh crore more liquidity The sharp cut in policy rates and the relaxation for banks under the large exposure framework on drawdowns under the Target Long-Term Repurchase Operation (TLTRO) can aid stronger and well managed companies...

MFIN: RBI addresses Industry’s concerns The Reserve Bank of India has addressed industry’s concerns about the unbearable impact of coronavirus on the already feeble and fragile economy. “Reserve Bank of India announced a big monetary bazooka including 75 bps repo...

The move will benefit all sectors RBI’s latest announcement of a massive repo rate cut of 75 bps to 4.4% coupled with three months moratorium of EMIs on all outstanding loans is the biggest move that India has so far...

Focus would be on long-term reforms Risks from COVID-19 related developments are evolving, necessitating ample policy support, said Singapore’s DBS banking Group. Resolving financial sector stability and ensuring banks and non-banks return to health will be crucial, the bank pointed...

Non-banks face more volatile situation While most of the key target asset segments faced subdued demand related headwinds and some non-banks also faced funding constraints that impacted growth in the current fiscal, the COVID-19 related slowdown in economic activity would...

FICCI research calls for contactless cards The Government has been recommended to take out all stops towards promotion of digital payments in the currently tensed environment caused by the deadly coronavirus. "A key recommendation from FICCI in the present circumstances...