They also warned that banks will start reporting higher non-performing assets after September, once the six-month moratorium on loan repayment ends.
In this winter of discontent, in every procession, in every demonstration, in every protest -- from Jawaharlal Nehru University to Jamia to Shaheen Bagh to the streets of Mumbai -- the front rows have been occupied by women. It's been weeks since women have been sitting in protest across the country against the newly-introduced Citizenship Amendment Act and the proposed National Register of Citizens. The protests are a nerve centre of unwavering voices against what has been perceived as a discriminatory law. The women -- some housewives, some students with hijabs covering their hair, and others in full-length burqa robes -- are rallying against the 'Man' in what could also be perceived as a revolution for the 'weaker sex' in India.
The country's largest lender State Bank of India on Wednesday said it has reduced its marginal cost of fund-based lending rate (MCLR) by up to 15 basis points across various tenures, effective March 10. The bank has reduced its one-year MCLR by 10 basis points to 7.75 per cent from the earlier 7.85 per cent, SBI said.
The Cabinet on Wednesday approved the National Mission on Edible Oils - Oil Palm (NMEO-OP) with a financial outlay of Rs 11,040 crore to promote domestic cultivation of oil palm in the next five years, and reduce the country's dependence on edible oil imports. The decision comes after Prime Minister Narendra Modi announced the new central scheme on August 15 during his Independence Day speech at Red Fort. Briefing the media, Union Information and Broadcasting Minister Anurag Thakur said the Cabinet approved the NMEO-OP with a focus on the northeast region and the Andaman and Nicobar Islands with a financial outlay of Rs 11,040 crore.
Over 73.44 lakh voters exercised their franchise in 10,592 polling stations spread over 13 districts in the Barak Valley, the hill regions and parts of central and lower Assam.
The main factor boosting production was a sustained rise in new work inflows.
The company had posted a net profit of Rs 2,166 crore (Rs 21.66 billion) during the April-June quarter a year ago.
'He's at best a holding-CEO. Not one who will re-imagine the bank,' a senior banker and former colleague tells Raghu Mohan about HDFC Bank CEO & MD Sashidhar Jagdishan.
Zomato has the potential to be an equally important milestone for Indian equity markets, notes Akash Prakash.
Terming investment in infrastructure "quintessential" to boost growth, the Economic Survey on Friday said post unlocking of the economy, infra sectors are poised for growth and construction of roads is expected to return to the high pace attained before COVID-19. The infrastructure sector will be the key to overall economic growth and macroeconomic stability, the Survey said emphasising that the year after the crisis (2021-22) will require sustained and calibrated measures to facilitate the process of economic recovery and enable the economy to get back on its long-term growth trajectory. "Basic infrastructure facilities in the country provide the foundation of growth. In the absence of adequate infrastructure, the economy operates at a suboptimal level and remains distant from its potential and frontier growth trajectory.
The economic survey for 2020-21 has suggested revision in the weightage of food items to gauge the true picture of inflation in the country, and said new sources of price data also need to be incorporated in the wake of increasing retail e-commerce transactions. As per the survey, the current spike in consumer price-based retail inflation of food prices is mainly a supply-side phenomenon. The survey noted that the weights of all items in retail inflation are based on the NSO household consumption expenditure survey of 2011-12, adding the weight of food items in the index might have significantly decreased over the decade since then.
The new rates, effective Wednesday, is the third reduction by SBI in this financial year having cut the rates by 5 bps each in April and May, while its home loan rates has come down by 20 bps during this period.
The relaxation would be available only to those beneficiaries who have been credited with the advance for buying the cylinder but have not been able to purchase the refill.
Steps will be taken to attract external commercial borrowing and FDI in the education sector, the finance minister said. Stating that govt will soon introduce new education policy, Sitharaman said online degree courses to students from weaker sections.
'Serial testing is much more valuable than a single test which reflects just a point in time.'
Bharti Airtel said net sales rose 7.9 per cent
The earliest ones included whistles shaped like birds, toy monkeys that could slide down a string and small carts made from materials found in nature such as sticks, clay and rocks. While there might be no disputing India's rich toy-making tradition, the industry is languishing for lack of investment and technology, and also owing to competition from cheap imports. And though it has been listed among 24 key sectors under the government's Atmanirbhar Bharat Abhiyaan, the question remains: will this push help place it in the global game? Currently, 80-odd per cent of the toys sold in India are imported - nearly 60 per cent of them from China.
The rating agency revised the outlook for EXIM, SBI, Bank of Baroda, Bank of Baroda (New Zealand), Bank of India, Canara Bank, Punjab National Bank, ICICI Bank, Axis Bank while affirming their ratings. At the same time, Fitch has affirmed IDBI Bank Ltd's (IDBI) rating, while maintaining the outlook at negative.
The bigger threat for DMart is that the Reliance-Future combine now has grocery revenues that are nearly 2.5 times of it, putting pressure on the former to improve stickiness of its consumers.
Housing sales fell 37 per cent year-on-year during the 2020 calendar year while gross office space leasing declined 35 per cent on low demand because of the coronavirus pandemic, but demand improved significantly in the last quarter to cross pre-COVID level, property consultant Knight Frank India said on Wednesday. In its 'India Real Estate - Residential and Office Update H2 2020' report released on Wednesday, the consultant reported that sales of residential properties fell 37 per cent to 154,534 units in 2020 across eight cities as compared with 245,861 units in the previous year.
The BCCI letter did not make a specific reference to Pakistan, which has been accused of harbouring terrorists by India.
'There will always be hiccups given that the Namami Gange programme is spread over different sectors and involves several agencies.'
There was a worry that such a policy would hamper businesses, create resentment among the male staff and perhaps also discourage companies from employing women. However, this has proved to be misplaced.
Its total income (consolidated) rose to Rs 79,302.72 crore in the quarter under review, compared to Rs 74,948.51 crore in the year-ago period
Total revenue came in at Rs 20,422 crore for the September quarter, which was 6.2 per cent lower than Rs 21,777 crore notched in the year-ago period.
The bank's gross non-performing assets rose to 10.69 per cent of total advances at the end of June, against 9.97 per cent a year ago.
There will be corresponding price revisions on petrol and diesel in other states on account of change in dealer commission
Mapping all its 13 lakh employees and identifying potential quarantine facilities for each of them is part of the protocol drafted by Central Railway to insulate its staffers from Covid-19. The document, 'Rail Pariwar Dekh Rekh Muhim' (drive to take care of the railway family)' lists a series of steps to be followed by zonal railways to keep employees safe.
Allegations are flying thick and fast, from harassment, pressure on employees to sell their stocks in the firm, to not one but two extortion calls.
India have emerged winner in all five matches against Pakistan in T20 World Cups, starting from the inaugural World T20 in 2007.
Rough estimates from plantation companies have pegged production loss in excess of 100 million kg (mkg) across India which is valued at around Rs 2000 crore. Usually, plantation companies in Assam and West Bengal produce around 15 per cent of the total tea during March-April.
Govt's move will facilitate entry of global giants such as Total SA of France, Saudi Arabia's Aramco, BP Plc of the UK, and Trafigura's downstream arm Puma Energy.
Thousands and thousands of protesters, many of them students who skipped school, have gathered in cities across the world kicking off a day of worldwide protests calling for action against climate change ahead of a United Nations summit. From the Pacific Islands to Australia and India, protesters took to the streets on Friday, demanding their governments take urgent steps to tackle the climate crisis and prevent an environmental catastrophe. Greta Thunberg, the 16-year-old Swede who inspired the climate strike, tweeted her support. Check out photos from all over the world.
The gems and jewellery industry is staring at a sales washout on Akshaya Tritiya for the second consecutive year as most of the states are under lockdowns due to the raging second wave of the COVID-19 pandemic which has led to negative consumer sentiment, say industry leaders. Akshaya Tritiya, considered as an auspicious day for buying gold and jewellery, falls on May 14 this year. India is the worst-hit among all nations with the second wave of the pandemic, which has been killing more than 3,500 daily and infecting close to 4 lakhs daily for weeks. The massive caseload has nearly paralysed the medical infrastructure.
Chief Economic Adviser K V Subramanian on Friday said there is an "upside potential" in the estimates about the economy during the current financial year amid a faster-than-expected recovery. He said the final print could be better than GDP estimates given by various institutions, including the Reserve Bank of India, which projected contraction of 9.5 per cent during 2020-21. During the second quarter, India's economy recovered faster than expected as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on consumer demand bouncing back.
Tea estates across Assam and West Bengal, which were hitherto closed owing to the lockdown, opened in April.
All eyes were as India as it celebrated its 69h Republic Day on Friday with the 10 ASEAN leaders as chief guests. The mood was upbeat across the country. Rediff.com brings you glimpses of the celebrations.
Though the mandate is seen largely an outcome of Banerjee's welfare schemes, she has promised to industrialise at a faster pace, or so read the manifesto.
Soaring fuel prices give birth to a jugaad system in Bihar's border towns abutting Nepal with residents smuggling in India-supplied cheaper petrol and diesel from the mountain kingdom.
