Coronavirus Lockdown: The third round of lockdown has come with detailed rules for green, orange and red zones and has allowed some services to open in each zone with specific guidelines.

Once the cases started increasing rapidly in the country, the Centre announced a lockdown on March 24, leaving lakhs of Indians stranded, with nowhere to go.

The earlier forecast, which was shared with the government in March 2020, had put tourism's economic value at risk at around Rs 5 lakh crore, FAITH said in a statement.

Lockdown in India has brought some positive environmental news from clean rivers to clean air at many places. Pollution has declined drastically and as a result, people are able to see distant things.

Social distancing will be maintained in lines for amenities, in restaurants, on rides and other facilities and sanitization and disinfection will be boosted, the company said in a news release.

While currently the flights are operated by state-owned carriers, Puri said private airlines may also join in during subsequent evacuation efforts.

Expecting many stranded non-resident Keralites to be evacuated from the Middle East stating Thursday onwards, the Cochin International Airport Limited (CIAL) is gearing up with several safety measures!

The government also said that Air India will operate 64 flights from May 7 to May 13 to bring back around 15,000 Indian nationals stranded abroad amid the COVID-19-induced lockdown.

The purpose is to ensure that they are isolated from others and stay safe before they are cleared by the concerned medical authorities to go back to their homes.

The president emphasised the need to focus promoting medical tourism by highlighting the "successful efforts taken by Sri Lanka to contain the spread of the coronavirus."

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The number of applicants seeking H-1B visas has dropped significantly with the US Citizenship and Immigration Services (USCIS) receiving only 199,000 petitions for 2017, compared with 236,000 in 2016, reflecting the impact of the recent protectionist measures undertaken by the American government.

The President’s executive order directs the federal bureaucracy to enforce visa law more vigorously, and to study new ways to reform and restrict the H-1B system.

Defence, water issues and agriculture will top the agenda of talks when Prime Minister Narendra Modi visits Israel next month.

Uber doing away with the post-trip tracking feature that had drawn the ire of users is a sign of the torsion privacy concerns create when faced with the demands of a data-driven world.

Spearheaded by France, the plan has met resistance from countries such as Ireland and Sweden, which question the wisdom of the EU going it alone given the global nature of digital services.

The Trump administration has assured lawmakers and the American corporate sector that the public would get an opportunity to respond to its proposal of revoking work authorisation to H-4 spouse visas after they raised their concerns over the move, which will impact thousands of Indians. H-4 visas are issued to the spouses of H-1B foreign […]

An internet diversion that rerouted data traffic through Russia and China disrupted several Google services on Monday, including search and cloud-hosting services.

Deutsche Bank chief executive officer Christian Sewing was there to give the annual pep talk to his top executives.

Pakistan on Monday conferred its highest civilian award Nishan-e-Pakistan on Saudi Crown Prince Mohammad bin Salman for his “outstanding support” in reinvigorating the ties between the two countries.

"Since March 15, our volumes on outward remittance services have increased many fold. There is a significant difference in before-and-after demand since mid of March," said Praveen Kutty, Head of Retail and SME Banking, DCB Bank without quantifying the increase in demand.

NBFCs face a double whammy because they are offering moratorium to customers despite not getting one themselves from their lender banks, as per Crisil.

ESAF has more than 96% of its exposure in the micro-segment with the average ticket size of the loan being Rs 33,000.

Earlier, the Business Correspondent Federation of India (BCFI) had said that while the BCs were offering services of cash withdrawal, very few are depositing money in the wake of the current lockdown.

The new provisioning requirement has to be made for the March and June 2020 quarters and this will impact their profitability in 2019-20 and 2020-21.

Kotak Mahindra Bank, which has revised interest rate on daily balances in savings account multiple times over the past year or so, has again made a change.

This novel facility offers customers yet another way to connect with their bank from home at a time when they are advised to stay indoors in the wake of the nationwide lockdown, ICICI Bank said in a release.

Market is viewing the fund-raising announcement in a positive light as the lender’s move to build up capital reserves is being seen as a sensible move at a time of uncertainty.

It said sectors with higher leverage, such as power, telecom, roads, textiles and fertilisers, will be the major beneficiaries and account for nearly 47 per cent of the total breather available.

The percentage of applicants is in low single digit as a share of the loan book, the bank said, but this could go up as it has not put a deadline or a cut-off for people to apply.

Experts say more borrowers are likely to line up for emergency credit from banks as many businesses will be hit by the slump in demand and zero footfall in the market in the wake of the pandemic.

The credit card company, promoted by the country's largest lender SBI, said the borrowings at the end of the previous fiscal were provisional and subject to audit.

The lender’s gross NPAs stood at 2.45% of gross advances as on March 31, 2020, up from 2.18% on December 31, 2019, while the net NPA ratio stood at 0.91% of net advances as on March 31, 2020, down from 1.05% on December 31, 2019.

In the last Parliament session, Rahul Gandhi had asked the government to provide a list of top 50 bank loans defaulters in the country, leading to sharp exchanges and uproar in the Lok Sabha.

The bank’s advances grew 15% y-o-y to Rs 5,71,424 crore as on March 31, with retail loans up 24% y-o-y to Rs 3.05 lakh crore, accounting for 53% of the net advances.

Accordingly, all regulatory returns required to be submitted by such entities to the Department of Regulation can be submitted with a delay of up to 30 days from the due date.

According to sources, the RBI has conveyed to banks that there is no restriction for them to provide moratorium to NBFCs.

The three year NCD issue of Indiabulls Housing Finance opened on April 29. Although, the base issue size was Rs 100 crore, but it had a greeshoe option of Rs 900 crore.

AU Small Finance Bank (SFB) reported an increase of 3.5% year-on-year in PAT to Rs 120 crore (our estimate: Rs 180 crore), affected by higher provisions of Rs 150 crore.

RBI, on April 17, announced to provide special refinance facilities for a total amount of Rs 50,000 crore to NABARD, SIDBI and National Housing Bank (NHB) to enable them to meet sectoral credit needs.

The government can issue recapitalisation bonds, or the RBI's huge reserves of over USD 127 can also be dipped into to help the state-owned bank's recapitalisation needs, it said.

Having come up with emergency credit lines to help businesses weather the Covid storm, banks are seeing little demand for fresh credit at this stage.

The coupon on the bonds, to be maturing in December 2021, has been fixed at 7.06 per cent per annum.