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Business

Govt Hikes Excise Duty on Petrol by Rs 10 a Litre, Diesel by Rs 13 a Litre; No Change in Retail Rates

These duty rate changes will come into effect from May 6.
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Business

State-owned Bank NPAs May Rise in FY21, Govt’s Fiscal Deficit to Widen: Bank Of America

Analysts agree that Covid-19 pandemic will lead to an increase in bank’s gross non-performing assets with some reports pegging the stock to double as well.
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Business

Average Daily Aadhaar-enabled Transactions Double; Over Rs 16K Cr Disbursed During Lockdown: FinMin

As many as 43 crore transactions leading to disbursement of Rs 16,101 crore took place during the lockdown period, the Finance Ministry said in a tweet on Monday.
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Business

US Retailer J. Crew Files for Bankruptcy: Statement

The brand, whose clothes have been worn by former first lady Michelle Obama, said online sales operations, which account for more than half its revenues, will continue as normal.
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Business

Bad Debt of Indian Banks Could Double From Rs 9.35 Lakh Crore Due to Coronavirus Crisis: Report

Indian banks are already grappling with 9.35 lakh crore rupees ($123 billion) of soured loans, which was equivalent to about 9.1% of their total assets at the end of September 2019.
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Business

CII For Greater Industrial Activities in Districts With High Economic Performance

The government has permitted industrial estates, SEZ and industrial townships with restricted entry within urban areas of ‘red zones’ to commence operations.
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Business

PM Modi Holds Meetings to Firm Up Second Stimulus for Reviving Lockdown-hit Economy

The prime minister also had discussions with key economic ministries such as Agriculture and Farmers’ Welfare, and MSME to discuss various issues.
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Business

Difficult to Take Medium and Long-term Views of the Situation: SBI Official

The bank is looking at the short term now – the next two or three quarters, a senior SBI official said on condition of anonymity.
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Business

CNBCTV18-CII Poll: What Heads of Top Institutions Said on India’s Strategy to Revive Economy After Covid-19

SBI Chairman Rajnish Kumar said he is hopeful of more relaxations by May 31 and expects economic activity to return by the festive season.
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Business

Lockdown Led to Subdued Economic Activity But Saved India From Lot of Agony: SBI chairman

Nationwide lockdown should only be lifted once the situation is fully under control, said State Bank of India Chairman Rajnish Kumar.