Image for representation. The central bank has “predicted” that the Gross Domestic Product (GDP) for the July-September quarter is set for a contraction of 8.6 percent. News18.com Last update: November 12, 2020 12:14 PM IST FOLLOW US: For the first time in history, India’s economy entered a “technical recession” in …
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The Reserve Bank’s number is driven by cost cuts at companies that boosted operating profit India’s economy likely contracted for the second consecutive quarter, according to a team of economists that included Michael Patra, the central bank’s deputy governor in charge of monetary policy, pushing the country into an unprecedented …
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India’s economy likely contracted for the second consecutive quarter, according to a team of economists that included Michael Patra, the central bank’s deputy governor in charge of monetary policy, pushing the country into an unprecedented recession. Gross domestic product contracted 8.6% in the quarter ending September, the Reserve Bank of …
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The 2020-21 Sovereign Gold Bond Scheme (the eight version) will open for subscription starting Monday (Nov 9). The scheme, issued by the Reserve Bank of India (RBI), will be open until November 13. The issue price of the Sovereign Gold Bond has been set at Rs 5,177 per gram of …
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India’s antitrust regulator launched an investigation against Google for allegedly abusing its dominant position to force app makers to exclusively use its billing system for in-app purchases and for bundling the search giant’s payments app. with Android smartphones sold domestically. While the Competition Commission of India (ITC) received complaints against …
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Mumbai: Non-bank financial corporations (NBFCs) must either become strictly regulated banks or downsize, according to Rajeshwar Rao, deputy governor in charge of bank regulation and risk tracking at the Reserve Bank of India (RBI). Speaking at an Assocham event, Rao said there can be no “one size fits all” prescription …
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The Reserve Bank today asked all credit institutions, including non-bank financial companies, to implement the interest exemption on interest for loans up to ₹2 crore for the six-month moratorium period beginning March 1, 2020. The Center has also informed the Supreme Court that lenders have been instructed to credit the …
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The CEO of Yes Bank Ltd., which helped the lender out of India’s biggest bailout, is bracing for the fallout from the pandemic. The coronavirus outbreak has “created a problem” in the loan portfolio, even as progress has been made in addressing key drawbacks, such as weak governance, fundraising challenges …
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The plan will be implemented even for borrowers who did not avail themselves of the moratorium. Three weeks after informing the Supreme Court that the Center would pay the additional compound interest on loans up to ₹ 2 crore used by retail borrowers, as well as micro, small and medium-sized …
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The government has announced guidelines for the exemption from compound interest, which was payable by borrowers who had opted for a moratorium on their equivalent monthly payments (EMI) for a period of six months between March and August 2020. This will eliminate the interest-on-interest burden for all micro, small and …
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