Name: FM & RBI head meet PSU Chiefs before Budget
Uploaded: 2019-01-28T01:17:36.fff+05:30
Duration: T00M18S
Channel: editorji
Description: Finance Minister Piyush Goyal and the RBI governor today met CEOs of public sector banks. RBI governor Mr Das said the meeting was held to understand the current situation for PSU lenders. He also said the regulator's expectations were communicated to the banks.

Finance Minister Piyush Goyal and the RBI governor today met CEOs of public sector banks. RBI governor Mr Das said the meeting was held to understand the current situat

FM & RBI head meet PSU Chiefs before Budget

Finance Minister Piyush Goyal and the RBI governor today met CEOs of public sector banks. RBI governor Mr Das said the meeting was held to understand the current situation for PSU lenders. He also said the regulator's expectations were communicated to the banks.  

Finance Ministry via a notification has removed quarterly/monthly spending curbs on capital expenditures that were imposed on ministries in 2017. The move will hop

Finance Ministry via a notification has removed quarterly/monthly spending curbs on capital expenditures that were imposed on ministries in 2017.&nbsp; The move will hopefully lead to higher capital expenditure by the govt aiming to crowd in private investment.The Reserve Bank of India estimates that every one rupee spent by the Central government will lead to an increase in gross domestic product by over Rs 3.&nbsp; GDP&nbsp;target by brokerages are being lowered closer to 10% mark as localised lockdowns&nbsp;continue to hit industry and services.&nbsp;

S&P Global Ratings on Thursday said the Indian economy is projected to grow at 11% in the current fiscal, but flagged the 'substantial' impact of broader lockdowns

S&amp;P Global Ratings on Thursday said the Indian economy is projected to grow at 11% in the current fiscal, but flagged the 'substantial' impact of broader lockdowns on the economy. In its report on Asia-Pacific Financial Institutions, S&amp;P said the control of Covid-19 remains a key risk for the economy, with new infections surging in recent weeks and the second pandemic wave. S&amp;P said, their forecast growth of 11% for India in 2021 is followed by a 6.1-6.4% forecast increase for the next couple of years, adding that the impact of broader lockdowns on the economy could be substantial, depending on their length and scope. As per official estimates, the Indian economy contracted 8% in 2020-21 fiscal, which ended March 31, 2021.

Delhi High Court rejected Facebook and its subsidiary WhatsApp's plea challenging an order by the Competition Commission of India to probe WhatsApp's new

Delhi High Court rejected Facebook&nbsp;and its subsidiary WhatsApp's&nbsp;plea challenging an order by the Competition Commission of India to probe WhatsApp's&nbsp;new privacy policy.&nbsp;
Harish&nbsp;Salve &amp; Mukul&nbsp;Rohatgi&nbsp;appearing for WhatsApp&nbsp;and Facebook&nbsp;respectively argued that&nbsp;there was no addition to the old policy and that the new policy was brought out purely for business and commercial users.
ASG Aman Lekhi&nbsp;appearing for CCI, had argued that the matter here was not of privacy but of access to data and therefore, the CCI was acting well within its purview reports Live Law.&nbsp; The court said it saw no merit in the petitions of Facebook and WhatsApp to interdict the investigation directed by the CCI.

At Rs 400/dose the vaccination bill for states could be as high as Rs 30,000 cr for the 18-44 age group reports Business Standard. As per calculations done by th

At ₹400/dose the vaccination bill for states could be as high as ₹30,000 cr for the 18-44 age group reports Business Standard.&nbsp;
As per calculations done by the business daily&nbsp;Uttar Pradesh would need more than ₹5,000 cr, followed by&nbsp;Maharashtra, Bihar, and West Bengal which may need close to ₹2,500 cr&nbsp;for the innoculation&nbsp;drive.&nbsp;

South Africa's second largest bank FirstRand is exiting India business after 12 years reports Economic Times. FirstRand Bank informed employees on Tuesda

South Africa's second largest bank FirstRand&nbsp;is exiting India business after 12 years reports Economic Times.&nbsp; FirstRand&nbsp;Bank informed employees on Tuesday via videoconference&nbsp;and stated&nbsp;"Following a review of FirstRand&rsquo;s strategy in India the decision has been taken to convert the current branch to a representative office. FirstRand will be engaging with the regulators on this proposed change."
FirstRand's&nbsp;shut down will impact over 50 employees and marks the second exit for a foreign&nbsp;lender after global giant&nbsp;Citibank announced it's departure for retail ops last week.&nbsp;

Expect the current vaccine shortage to end in another 2-3 months as new supply comes on-stream, the Serum Chief Adar Poonawala told CNBC-TV18. Ponawalla exp

Expect the current vaccine shortage to end in another 2-3 months as new supply comes on-stream, the Serum Chief Adar Poonawala told CNBC-TV18.&nbsp;
Poonawalla&nbsp;expects that 100 million doses will be ready by July end, out of which 50% will be given to the Central government and the rest to the private sector and the state governments.
Serum CEO&nbsp;also informed that they will start signing contracts with private hospitals for direct supply which would start by third or fourth week of May.&nbsp;
&nbsp;

Brace yourself for a sharp rise in the cost of petrol and diesel as there is a fuel price hike on the anvil given the rising price of crude and also the end of the poll

Brace yourself for a sharp rise in the cost of petrol and diesel as there is a fuel price hike on the anvil after polling ends given the rising price of crude globally.&nbsp;
India's crude basket cost has gone up almost $5 since February, when the last hike was -:
<ul>
<li>February: $61.2/bbl</li>
<li>March: $64.7/bbl</li>
<li>April*: $66/bbl&nbsp;</li>
</ul>
In fact petrol prices are down 77 paise&nbsp;through March to pass on the benefit of the low prices seen in February. Analysts now expect to see a Rs 2/lt hike to accommodate the hit to oil marketing companies.&nbsp;
&nbsp;

India’s largest life insurer, Life Insurance Corporation collected its record high new business premium at Rs 1.84 lakh cr. The insurer also stated that it s

India&rsquo;s largest life insurer, Life Insurance Corporation collected its record high&nbsp;new business premium at Rs 1.84 lakh cr. The insurer also stated that it settled 9.59 lakh death claims amounting to Rs 18,000&nbsp;cr in the last fiscal year.&nbsp; As the covid&nbsp;spread continues there has been a rush for insurance,&nbsp;LIC&nbsp;booked 2.10 crore policies in FY'21, out of which 46.72 lakhs were procured in the month of March alone.
&nbsp;

Tech giants such as Infosys, Wipro and Tech Mahindra are organising vaccination camps on campuses across the country to vaccinate their employees. Wipro

Tech giants such as Infosys, Wipro&nbsp;and Tech Mahindra&nbsp;are organising vaccination camps on campuses across the country to vaccinate their employees.&nbsp; Wipro spokesperson stated , "We are organising our first covid vaccination camp at our Electronics City campus for Bengaluru-based employees. We are making necessary efforts to roll out vaccination camps across other major offices in India." ET reports that&nbsp;Infosys has tied up with over 130 hospitals where its employees and their immediate families can get vaccinated.
Tech firms are among the largest private employers in India with&nbsp;a total of more than 1.2 million people in the workforce.

Amid surging coronavirus cases across the country, Chief Economic Adviser K V Subramanian has said the peak for the second wave of the pandemic might be reached by the

Amid surging coronavirus cases across the country, Chief Economic Adviser K V Subramanian has said the peak for the second wave of the pandemic might be reached by the middle of the next month.&nbsp; He said his assessment on the peak is based on research done by various bodies, including the Indian Council of Medical Research.&nbsp; Based on some very nice mathematical modelling of the pandemic by IIT Kanpur and based on some of the research put out by ICMR, it's likely that India's second wave peak might be around mid-May," he told the&nbsp;PTI.&nbsp;

The swiftness of the second wave has left everyone shocked, , Tata Sons Chairman N Chandrasekaran tells Vikram Chandra that there is a fine balance required to ensure t

The swiftness of the second wave has left everyone shocked, , Tata Sons Chairman N Chandrasekaran tells Vikram Chandra that there is a fine balance required to ensure that the economy doesn&rsquo;t suffer.

Tata Sons' Chairman in conversation with Vikram Chandra says there needs to be unprecedented urgency to raise the pace of vaccination in India, even if that means reinv

Tata Sons' Chairman in conversation with Vikram Chandra says there needs to be unprecedented urgency to raise the pace of vaccination in India, even if that means reinventing protocol and replicating vaccines

Rakesh Jhunjhunwala remains bullish despite the pandemic odds as he sees a double digit growth and he doe not see the markets going through a free fall in this pan

Rakesh Jhunjhunwala&nbsp;remains bullish despite the pandemic odds as he sees a double digit growth and he doe not see the markets going through a free fall in this pandemic wave
The ace investor told the audience at an AIMA&nbsp;event that the metals sector will be a key beneficiary. He said the demand for metals will be huge and that investors have largely ignored the sector in the past 10 years.
Jhunjhunwala&nbsp;is also predicting that the most battered stocks in the mid- and small-cap universe will give the best returns.

Streaming giant Netflix faced back to work realties with subscriber additions collapsing in the Jan-March quarter. The streaming service added just 3.98 million su

Streaming giant Netflix faced back to work realties with subscriber additions collapsing in the Jan-March quarter.&nbsp;The streaming service added just 3.98 million subscribers in the first quarter, missing its own forecast of 6 million.&nbsp;
The slowdown is a cocktail of recovering economies and people resuming work as well as a lack of new hit shows as per analysts. The current Apr-June quarter is likely to be even more challenging&nbsp;with Netflix predicting just 1 million new customers, a sharp contrast to the 4 million projected by analysts.&nbsp;
The first quarter of 2020 had been the strongest in company history, with 15.8 million new customers,&nbsp;The latest three months, in contrast, marked the slowest first quarter since 2013, when Netflix added about 3 million customers.

Cryptic tweets from Technoking Elon Musk has propelled Dogecoin to the centrestage of the cryptocurrency rally, up 400% in just one week. CoinMarketCap

Cryptic tweets from Technoking Elon Musk has propelled&nbsp;Dogecoin&nbsp;to the centrestage of the cryptocurrency rally, up 400% in just one week.&nbsp;
CoinMarketCap.com.&nbsp;now estimates the marketvalue for the once&nbsp;satirical alternative to Bitcoin at a whopping $50 billion, making it almost as valuable as Twitter ($56 billion) where the&nbsp;Shiba&nbsp;Inu based memes continue to trend due to posts by Elon Musk.&nbsp;
Dogecoin prices climbing once again, with fans rallying behind the #DogeDay hashtag to celebrate April 20. Prices were trading just below 40 cents, according to CoinGecko.com

Apple's Spring Loaded April 2021 event saw the launch of new iPad Pro models with M1 chip, and a new iMac with the M1 chip. Apple also launched the new AirTag accessory

Apple has launched several new products at its 20th April &lsquo;Spring Loaded&rsquo; event. Apple has launched new iPad Pro models, with the powerful new in-house M1 chip. While the 11-inch model features the same Liquid Retina ProMotion display as the previous model, the new 12.9-inch iPad Pro gets a Liquid Retina XDR display that uses mini-LED technology. The new iPad Pros also get 5G connectivity with the cellular models, and pricing starts at ₹71,900 for the 11-inch model. The new iPad Pros can be ordered in India from 30th April, with availability from the second half of May.
Apple has also launched a new redesigned iMac, that comes with a flat aluminium frame and glass front. It sports a 24-inch 4.5K Retina display and runs on the latest M1 chip, with support for up to 16GB unified memory and up to 2TB of SSD storage. There's a new 1080p FaceTime HD camera with an M1 image signal processor on the front along with a six-speaker system with spatial audio and Dolby Atmos. The new 24-inch iMac starts from ₹1,19,000, and can be ordered from 30th April, with availability from the second half of May.
Apple also unveiled a new colour finish for the iPhone 12 and 12 mini--Purple. Both phones can be pre-ordered in the new colour from April 23, starting at ₹69,900 for the iPhone 12 mini.
Along with all the new products, Apple has also launched AirTag, that can help locate your personal belongings using Apple's 'Find My' feature. AirTag uses Ultra Wideband technology that can let compatible iPhones navigate to them, using a built-in speaker. The AirTag costs ₹3,190 for a single unit, and ₹10,900 for a pack of 4. AirTag can be ordered in India from 5:30PM IST on April 23.

Singapore Ministry of Health has issued a directive stating visitors from India will have to serve an additional seven days Stay-at-Home Notice apart from the usua

Singapore Ministry of Health has issued a directive stating visitors from India&nbsp;will have to serve an additional seven days Stay-at-Home Notice apart from the usual mandatory 14 days quarantine at a dedicated facility.&nbsp;
The travellers will be tested for COVID-19 at the end of the initial 14-day quarantine and&nbsp;also at the end of the additional seven-day&nbsp;Stay-at-Home Notice.
The govt&nbsp;announcement came as the entry approvals for non-Singapore citizens and non-permanent residents are being reduced with immediate effect.

In a move to reduce the acute shortage of anti-viral drug Remdesivir, the govt has waived off the customs duty on imported Remdesivir injections and the drug's act

In a move to reduce the acute shortage of anti-viral drug Remdesivir, the govt has&nbsp;waived off the customs duty on imported Remdesivir injections and the drug's active pharmaceutical ingredients (API) till October 31.
The total duty was over 16% after IGST&nbsp;and&nbsp;social welfare surcharge. Union Minister Piyush&nbsp;Goyal&nbsp;tweeted the notfication&nbsp;stating " Imports of Remdesivir API, injection and specific inputs have been made import duty free. This should increase supply and reduce cost thus providing relief to patient."
The injectable drug has been repurposed for Covid-19 treatment and was cleared by the country's top drug regulator for restricted emergency use in June 2020 on patients with severe complications.
&nbsp;

Hero MotoCorp has halted manufacturing at all its plants due to the ongoing surge in spread of Covid-19 across the country.The two-wheeler major issued a statement

Hero MotoCorp&nbsp;has halted manufacturing at all its plants due to the ongoing surge in spread of Covid-19 across the country. The two-wheeler major issued a statement saying, "Keeping with its commitment to the safety and welfare of its people, Hero MotoCorp has decided to proactively halt operations temporarily at all of its manufacturing facilities across the country."
The shutdown, which is temporary and includes the global parts centre (GPC), is a first by a two-wheeler maker in this financial year.&nbsp;&nbsp;

As the shortage of oxygen becomes acute across the country India Inc is stepping up to help out. Mukesh Ambani promoted Reliance Industry has increased s

As the shortage of oxygen becomes acute across the country India Inc is stepping up to help out. Mukesh&nbsp;Ambani&nbsp;promoted Reliance Industry has&nbsp;increased supply of medical grade oxygen 7-fold to 700 tonnes a day.&nbsp;The supplies being made to states like Gujarat, Maharashtra and Madhya Pradesh&nbsp;and&nbsp; will provide relief to over 70,000 critically ill patients everyday. The company plans to raise medical-grade oxygen production capacity to 1,000 tonnes. Tata&nbsp;Group has also announced that they will import 24 cryogenic containers via special charter flights to supplement critical supply of medical oxygen.

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