Indian Oil Corporation chairman said, India has enough petrol, diesel and cooking gas in stock to last way beyond the 3-week nationwide lockdown. He added, that all plants and supply locations are fully operational and the IOC has mapped demand for all fuel for the entire month of April and beyond. India is the world's third largest energy consumer, and with most cars and two-wheelers going off the road, petrol demand has fallen by 8% in March while diesel demand has been down 16% per cent. With airlines grounding flights, ATF demand has fallen by 20%. But with people at home in quarantine, LPG demand saw more than 200% jump since the lockdown was announced.

After Tata&nbsp;Trust pledged&nbsp;₹500 crores, Tata&nbsp;Group now has come forward to pledge another&nbsp;₹1000 crores&nbsp;for the fight against the&nbsp;Coronavirus.&nbsp;In a statement, Ratan&nbsp;Tata&nbsp;confirmed that his group will provide&nbsp;Personal Protective Equipment for the medical personnel, respiratory systems for treatment, testing kits &amp; also help set up modular treatment facilities for infected patients. The Trust will also help&nbsp;in knowledge management and training of health workers and the general public.&nbsp;

Abbott&nbsp;on Friday announced&nbsp;it has received approval for a test that is capable of testing positive coronavirus&nbsp;cases in as little as five minutes, and it will begin making those tests available to health care providers next week.&nbsp;The test can detect negative results in 13 minutes. The company said it plans to ramp up manufacturing so it can deliver 50,000 tests per day.

In a major relief for its customers, the State Bank of India on Friday said that it would pass on the entire 75 basis point rate cut to its retail borrowers.&nbsp;The bank said in a statement that its external benchmark linked lending rate and repo linked lending rate now stands at 7.05% and 6.65%, respectively. These new rates will be effective April 1, SBI said.

IMF chief Kristalina Georgieva said on Friday that the coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help developing nations. In an online press briefing,&nbsp;Georgieva said that&nbsp;it is clear that we&nbsp;have entered a recession&nbsp;that will be worse than in 2009 following the global financial crisis.&nbsp;She said over 80 countries, mostly of low incomes,&nbsp;have already have&nbsp;requested emergency aid from the International Monetary Fund.&nbsp;

The Supreme Court has allowed sale of BS 4 vehicles for ten days after lifting of the ongoing lockdown over Coronavirus. The top court has relaxed its earlier March 31 deadline for sale and registration of BS 4 vehicles. According to the Supreme Court, the Indian carmakers can sell only 10% of their BS 4 stock during this period. However, the top court's ruling does not include the Delhi-NCR region.
&nbsp;

The Sensex erased early sharp gains to close lower by 131 points on Friday, snapping its three-day rising streak as concerns over an impending recession heightened. This after the&nbsp;RBI said the projected annual growth was at risk due to the COVID-19 outbreak. After opening significantly higher, the BSE&nbsp;gave up all the gains to end 131.18 points lower at 29,815. On the other hand, the Nifty closed 18.80 points higher at 8,660.
Bajaj Finance was the biggest loser in the Sensex pack, followed by Hero MotoCorp, IndusInd Bank, Maruti and HCL Tech.
Axis Bank, ITC, NTPC and M&amp;M were among the top gainers.

In a massive decision, the Reserve Bank of India has announced that banks are permitted to allow a 3-month moratorium on payment of instalments of all term loans outstanding on March 1, 2020. This decision applies to all regional, rural banks, co-operative banks, NBFCs including Housing Finance Companies. More importantly, the moratorium will not result in asset classification downgrade and will have no adverse impact on credit history of beneficiaries.

Moody's Investors Service on Friday slashed its estimate of India's GDP growth during the 2020 calendar year to 2.5%, from an earlier estimate of 5.3%, saying the coronavirus pandemic will cause unprecedented shock to the global economy.
Moody's said India is likely to see a sharp fall in incomes, further weighing on domestic demand and the pace of recovery in 2021. The report added that in India, credit flow to the economy already remains severely hampered because of severe liquidity constraints in the bank and non-bank financial sectors.

Measures announced by RBI Governor Shaktikanta Das on Friday can together inject nearly Rs 3.74 lakh&nbsp;crore into the Indian economy. These measures come at a time when the Indian economy is bracing for a potentially sharp slowdown as it fights to contain the spread of the novel coronavirus with a 21-day lockdown. The RBI chief said, banks have been depositing Rs 3 lakh crore daily with the central bank over the last few days, and public should not panic, he assured that their money is safe with banks. Shaktikanta Das also predicted a global recession, adding that India will not be immune.

In view of the Covid-19 pandemic, the RBI&nbsp;monetary policy committee&nbsp;voted for sizable reduction in repo rate, maintaining an&nbsp;accommodative stance in order to boost growth and maintaining financial stability while keeping inflation in the mandated range. RBI&nbsp;Governor Shaktikanta&nbsp;Das announced, that the RBI&nbsp;has decided to slash the repo rate by 75 basis points and the reverse Repo Rate has been cut by 90 basis points, making it unattractive for banks to deposit funds with RBI.

Former Finance Minister P Chidambaram has welcomed the decision of the RBI to cut repo and reverse repo rate while raising concerns over central bank&rsquo;s move to put on hold EMI payments on all term loans for three months. In a series of tweets, Chidambaram, said RBI&rsquo;s decision to put EMIs on hold was ambiguous and half-hearted. He said, all EMI due dates must be automatically deferred. The senior Congress leader said, he had suggested that all due dates should be deferred to 30th of June, adding that RBI's move has made borrowers dependent on banks and they will be disappointed.

Equity&nbsp;markets&nbsp;pared their morning gains and slipped into the red, after the RBI's Monetary Policy Commitee (MPC)&nbsp;reduced the&nbsp;repo rate.
The&nbsp;BSE Sensex was down about 160 points, or 0.5 per cent, at 29,780 levels levels and the Nifty50 index slipped below the 9,000-mark, to hover around 8,590 levels, down 60 points, or 0.7 per cent.
Bharti Airtel, HCL Tech, and Hero MotoCorp,&nbsp;all down over 5% were the top losers in the Sensex pack.
Auto stocks were trading up to 6 per cent lower. The Rupee also declined against the greenback. At 12:20 pm, the domestic currency was trading 5 paise&nbsp;down at 74.83 against the US dollar.

The&nbsp;21-day nationwide lockdown will lead to a production loss of approximately 80 percent, which ideally means, India&rsquo;s economy will take a hit of Rs 35,000-40,000 crore per day. This will overall lead to a loss of Rs 6.3-7.2 lakh crore, Care Ratings has said.&nbsp;The credit rating agency&rsquo;s assessment is based on real FY20 GDP numbers that is Rs 140-150 lakh crore.&nbsp;Assuming that there are 300 working days in a fiscal, the daily output comes to Rs 45-50,000 crore which can potentially be lost due to the shutdown, the report said.&nbsp;

CRR reduced by 100 bps for 1 year Move to release liquidity of 1 lakh 37 000 cr in banking system Minimum daily CRR balance reduced from 90 to 80%, upto June 26 2020

US Stocks ended higher for the third straight day on Thursday as a massive coronavirus relief bill moved closer to passing Congress, and Wall Street took some historically bad unemployment figures in its stride. The S&amp;P 500 rose 6.2%, bringing its three-day rally to 17.6%. The Dow Jones rose&nbsp;even steeper 21.3% since Monday. The tech-heavy&nbsp;Nasdaq ended higher for the second day, up 5.6%. The rise came despite data showing a record 3.28 million Americans filed for unemployment last week, as layoffs and business shutdowns swept through the country.

The G20 leaders pledged a 'united front' against the novel coronavirus on Thursday after a video conference to discuss the action to combat the global crisis. The leaders also vowed to inject&nbsp;$5 trillion into the global economy to counter the impact of the crisis.The meeting was attended by various G20 leaders including, US President Donald Trump, Russia's Vladimir Putin, China's Xi Jinping and Indian Prime Minister Narendra Modi. In a joint statement, the leaders vowed 'robust'&nbsp;support for developing nations.

In a bid to tide over the financial distress caused by the Coronavirus&nbsp;pandemic, the govt announced a massive&nbsp;₹1.7 lakh crore relief package.&nbsp;The scheme will work through cash transfers and lays special focus on providing food security to the poor and women. Here are the key announcements:
&gt; 8 crore people will get 5 kg rice / 5 kg wheat per person, and 1 kg region-specific choice of pulse per family, free, for&nbsp;next 3 months
&gt; 8.69 crore farmers under PMKY will be given first installment of ₹2,000 in first week of April
&gt; Wages hiked for MGNREGA workers from ₹182 to ₹202/day, will benefit 5 crore families
&gt;&nbsp;Senior citizens, poor widows, divyang citizens to get ex-gratia ₹1,000 in 2 installments over next 3 months
&gt;&nbsp;₹50 lakh medical insurance cover for healthcare workers, ASHA workers and paramedics, for 3 months
&gt;&nbsp;Collateral-free loans to 63 lakh women self-help groups doubled from ₹10 to ₹20 lakh
&gt;&nbsp;Ujjwala Scheme beneficiaries to get free cylinders for 3 months, will benefit 8 crore BPL families
&gt;&nbsp;20 crore women Jan Dhan account holders will get an ex-gratia amount of ₹500 per person per month for next 3 months
&gt;&nbsp;For establishments with up to 100 employees &amp; where 90% of employees earn less than ₹15,000/month, govt to pay 24% EPF contribution of employer &amp; employee for next 3 months
&gt;&nbsp;EPF regulation to be amended to allow non refundable advance of 75% of amount standing to the credit of worker, or 3 months wages, whichever is lower
&gt;&nbsp;State govts to utilise existing ₹31,000 crore welfare fund for benefit of 3.5 crore construction workers

Stock markets closed higher on Thursday as investors cheered relief package by the Finance Minister. Also, the markets saw some short covering.
The Sensex&nbsp;surged 1,400 points to close near 30,000. Nifty ended the session 4% high at 8,653. IndusInd Bank was the biggest Nifty mover as it surged over 46%. L&amp;T, Bajaj&nbsp;Finance, Bharti&nbsp;Airtel&nbsp;and Hero Moto&nbsp;Corp were among the other top five Nifty gainers.&nbsp;While, GAIL, HCL&nbsp;Tech, Sun Pharma, Tata&nbsp;Steel and Tech Mahindra were the top losers.
The Indian rupee was almost a percent higher at 75.36 against US dollar.
&nbsp;

Announcing a Rs 1.7 lakh crore package amid the Covid-19 pandemic, the govt announced massive relief for the organised sector. Finance Minister Nirmala&nbsp;Sitharaman said the&nbsp;EPF contribution of both employer and employee of 24%, that is 12% each, would be paid by the government for the next three months. The move will be for all those establishments with up to 100 employees and 90% of whom draw salaries less&nbsp;than Rs 15,000 a month. Sitharaman&nbsp;said, about&nbsp;4.8 crore EPFO&nbsp;members will benefit from the move. The government will also amend the EPF regulation scheme due to this&nbsp;pandemic&nbsp;so that workers can draw up to 75% non-refundable advance from credit in PF account or three months salary, whichever is lower.

SC asks RCom to pay ₹1400cr in 2 days

editorji

follow us

download editorji app

home > business > SC asks RCom to pay ₹1400cr in 2 days

replay trump newslist

up NEXT IN 5 SECONDS sports newslist

NaN/0

share this news

explore newslists

International

Lifestyle

Hollywood

Sports

Viral

Tech

National

Showbiz

Travel

Local

Business

Mar 29, 2020 14:40 IST

Mar 28, 2020 19:30 IST

Mar 28, 2020 12:20 IST

Mar 28, 2020 11:40 IST

Mar 28, 2020 10:50 IST

Mar 27, 2020 18:40 IST

Mar 27, 2020 17:30 IST

Mar 27, 2020 16:00 IST

Mar 27, 2020 15:50 IST

Mar 27, 2020 15:00 IST

Mar 27, 2020 13:40 IST

Mar 27, 2020 13:30 IST

Mar 27, 2020 12:50 IST

Mar 27, 2020 12:40 IST

Mar 27, 2020 11:10 IST

Mar 27, 2020 08:30 IST

Mar 26, 2020 22:00 IST

Mar 26, 2020 19:14 IST

Mar 26, 2020 18:30 IST

Mar 26, 2020 18:30 IST

follow editorji

download editorji

editorji

About Us

Reach us

Navigate