Saurav Mukherjee

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Business May 11, 2020

Nirmala Sitharaman Likely to Chair All Financial Sector Regulators at FSDC Meeting on May 14, Will Review Economic Situation Amid Coronavirus Lockdown

The Financial Stability and Development Council is most likely to meet on May 14 amid the coronavirus lockdown. The meeting will be headed by Union Finance Minister Nirmala Sitharaman and the agenda of the video conference meeting would be to review the economic situation of India, which is falling flat.
Business May 11, 2020

Sovereign Gold Bond Scheme Opens for Subscription Today, RBI Fixes Price of Yellow Metal at 4,590 Per Gram, Here Are All Details

The RBI is all set open the second tranche of government-run Sovereign Gold Bond (SGB) scheme of FY 2019-20 for subscription today. The Series II of SGB scheme 2020-21 will close for subscription on May 15. The RBI has set the issue price of the latest gold bond scheme at Rs 4,590 per gram, adding that the issue date is May 19.
India May 10, 2020

Piyush Goyal Seeks State Govts' Nods to Ferry Stranded Migrants, Says Indian Railways Can Ply 300 Shramik Special Trains Everyday

The Union Minister for Railways Piyush Goyal requested all the state governments to give permission to evacuate and bring back their stranded migrants. Goyal claimed that Indian Railways can run 300 Shramik Special trains everyday.
Lifestyle May 07, 2020

Rabindranath Tagore Jayanti 2020: A Tribute to Kabiguru on 159th Birth Anniversary, His Life Journey Still Inspires Young Generation

Referred to as 'the Bard of Bengal', Kabiguru Rabindranath Tagore was born on he 25th day of the Bengali month of Boishakh, 1268, which is usually celebrated on May 7, 1861 (AD) each year. Numerous cultural programmes and events are planned each year globally -- such as Kobipronam -- as a tribute to Tagore.
India May 05, 2020

India Announces Operations of 2 Special Flights From UAE on May 7 to Evacuate Stranded Indians Amid Coronavirus Lockdown

With the worldwide lockdown in place, Indian government has announced to operate two special flights from UAE on May 7 to evacuate stranded Indians. This move have been initiated to bring back nearly two lakh Indians who have registered with the Indian embassy in Abu Dhabi or the Consulate General of India in Dubai.
Lifestyle May 05, 2020

Karl Marx 202nd Birth Anniversary: Motivational Quotes Celebrating the Greatest Socio-Economic Crusader Who Stood for The Proletariat Class

Speaking about Karl Marx, the first thing that comes into the mind is his philosophy and socio-political theories, which has not only shaped a civilisation, but also gave them a new direction of life. Let us celebrate this memorable day by sharing motivational and inspiring Karl Marx quotes to wish Karl Marx on his 202nd birthday anniversary.
India Apr 30, 2020

RBI Annouces Special Liquidity Facility for Mutual Funds to Ease Strains on Banks Amid COVID-19 Crisis, Extends Window Timings for Operations

The RBI announced a special liquidity facility for mutual funds (SLF-MF) to ease liquidity strains on banks amid COVID-19 crisis. RBI said that it will be extended to all banks, irrespective of whether they avail funding from the RBI or deploy their own resources under the scheme.
India Apr 27, 2020

RBI Governor Shaktikanta Das Says Banks Can Decide on Offering 3-Month Moratorium to NBFCs

Reserve Bank of India Governor Shaktikanta Das said on Monday that the decision to extend the three-month moratorium benefit on March 27 to the Non-Banking Finance Companies (NBFCs) is entirely up to banks. Das of the opinion that each bank has to assess its own liquidity position, capital adequacy and its own financials.
India Apr 23, 2020

Additional Dearness Allowance, Dearness Relief Installment to be Scrapped for Central Govt Employees From January 1, 2020 to Combat Economic Loss Due to COVID-19: Finance Ministry

The Union Ministry of Finance informed that the government had cancelled the additional installment of dearness allowance (DA) and dearness relief (DR) to central government employees from January 1, 2020. Adding on, Centre said that they would not even pay the additional installments of DA and DR from July 1 2020 and January 1, 2021.
India Apr 17, 2020

RBI Governor Shaktikanta Das Makes Second Round of Announcements of Package Amid Economic Crisis Due to COVID-19 Lockdown; Read Full Text of Statement

RBI's Governor Shaktikanta Das on Friday announced that the central bank would soon launch targeted longer-term refinancing operations (TLTROs) of Rs 50,000 crore to assist non-banking financial companies (NBFCs) amid the coronavius lockdown. He also annouced other measures. Read his full statement here.
India Apr 15, 2020

Monsoon 2020: Normal Rainfall Predicted in India, 100% of Long Period Average, Says Govt

MoES stated that India will have a normal monsoon this year. The Ministry even predicted that during the monsoon season 2020 (June-September), it is expected that rainfall would be 100 percent of its long period average with an error of +5 or -5 percent due to model error.
World Apr 15, 2020

Global Airline Firms Mulling Ways to Resume Services After Coronavirus Lockdown, Likely to Convert '180-Seater Planes Into 120-Seater Aircraft'

Globally renowned airlines are busy in making planes which would fly with only two-thirds of its capacity to allow more space between passengers to combat financial crisis emerging from coronavirus lockdown. The international airliners would opt for converting a 180-seater to a 120-seater, amid the COVID-19 spread.
India Apr 15, 2020

Lockdown Extension May Shut 25% MSMEs Permanently, Liquidity Crunch Will Choke India's 6.9 Crore Small Traders: Experts

Experts from MSME sectors warned that Centre's decision would shut 25% MSMEs permanently. The market leaders even claim that the 19-day lockdown extension may choke India's 6.9 crore MSMEs, with exporters taking the biggest hit.
India Apr 13, 2020

Automobile Sector Feels The Coronavirus Pinch, Reports 18% Drop in Sales in March 2020

SIAM released the data for sales in automobile sector for the month of March 2020 and stated that Indian automobile sector reported more than 18% on year drop in sales during FY 2020. The SIAM data also stated that production during the period fell 15% to 26,362,284 units. In totality, automobile sales for the month of March declined 45%, in YOY 2020.
India Apr 11, 2020

Finance Ministry Transfers Rs 28,256 Crores Among 30 Cr Beneficiaries Under Pradhan Mantri Garib Kalyan Package

The Union Ministry of Finance announced that the Ministry has disbursed Rs 28,256 crores under Pradhan Mantri Garib Kalyan Package to the beneficiaries under DBT. The Finance Ministry even stated that the money has been deposited in the beneficiaries' accounts directly amid the coronavirus lockdown.
India Apr 09, 2020

India's February IIP Rises to 4.5%, Manufacturing Sector Output Grows by 3.2%

India's index of industrial production (IIP) for the month of February 2020 has come in at 4.5 percent beating revised 2.1 percent in the preceding month amid the coronavirus lockdown. NSO data shows IIP had grown by 0.2 percent in February 2019, while the output of manufacturing sector rose by 3.2 percent compared to contraction of 0.3 percent in the same month in 2019.
India Apr 08, 2020

What is Essential Commodities Act 1955? Centre Tells States to Notify Orders Under EC Act Amid Lockdown; Here's All About The Law

Union Home Ministry has asked to states to ensure availability of essential goods, by invoking Essential Commodities Act 1955. Under this act, control of the production, supply and distribution of, and trade and commerce is contolled by the states. Here are all details about the law.
India Apr 03, 2020

MHA’s New Circular Exempts Agricultural Sector From Coronavirus Lockdown Orders, Asks Farm Workers to Strictly Adhere to Social Distancing Norms

The MHA released an addendum to the guidelines issued regarding lockdown to exempt shops of agricultural machinery, its spare parts and repair. The latest decision comes a day after PM Narendra Modi said Centre allowed harvesting of the crops on condition that social distancing is practiced by the farm workers.
India Mar 31, 2020

Paytm Mall Waives Off Cancellation Penalties on Merchants Amid COVID-19 Lockdown

Paytm Mall on Tuesday announced that it has waived off order delay and cancellation penalties on merchants due to the ongoing COVID-19 pandemic until April 22, 2020.
World Mar 27, 2020

World Is in Recession, Can be Worse Than 2009 if Coronavirus Not Contained: IMF Chief Kristalina Georgieva

The MD of the IIMF Kristalina Georgieva said that 'it is now clear that we (global community) have entered a recession – as bad as or worse than in 2009.' Although she projected a rebound in 2021, she was of the opinion that this is only possible if COVID-19 virus is contained and liquidity problems from becoming a solvency issue can be prevented.

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