The product has emerged as the fastest growing financial subscription service, reaching a subscriber base of 1,60,000 in less than a year.

A year earlier, the conglomerate reported profits of $15.5 billion.

The RBI said the bank is not in a position to pay its current or future depositors and has violated regulatory norms for minimum capital requirement.

The prime minister also had discussions with key economic ministries such as Agriculture and Farmers' Welfare, and MSME to discuss various issues.

Sebi has imposed a total penalty of Rs 1.05 crore on 21 entities for executing fraudulent trading in the scrip of Jolly Plastic Industries Ltd.

The government has permitted industrial estates, SEZ and industrial townships with restricted entry within urban areas of 'red zones' to commence operations.

Asked about the reluctance of lenders to extend advances to small and medium enterprises, Panda said banks are "afraid" of increasing their lending to businesses despite several policy rate cuts by the Reserve Bank of India.

Madhav said Asian democracies like Singapore and South Korea along with India have set a "new example that you don't need to be authoritarian to handle such a big crisis".

Since the first lockdown extension, Crane Owners Association of India, which has over 150 members, have written twice to MSME Minister Nitin Gadkari and once to Finance Minister Nirmala Sitharaman, seeking their help.

India's solar and gas-fired electricity generation rose in April even as overall power demand fell at the steepest monthly rate in at least thirteen years, a Reuters analysis of provisional government data showed.

On being asked about the effect of the decline in Aramco’s profits on its plans to invest in India, Saudi Arabia's Ambassador to India reiterated that investment plans were on track.

With new orders and output shrinking at the steepest pace since at least early 2005 factories cut jobs at the fastest rate in the survey's history, signaling a high chance of recession.

ICICI Bank was the top laggard in the Sensex pack, tumbling nearly 9 per cent, followed by IndusInd Bank, Bajaj Finance, Tata Steel and HDFC.

Lower crude production due to reduced activity and OPEC+ cuts, coupled with a partial recovery in oil demand, should drive prices higher next year, Goldman Sachs Equity Research said in a note.

While ITC had so far not taken any action against workers, the company notices said "absence without leave" would lead to salary cuts and "disciplinary action", without elaborating.

Professional indemnity policy offers protection to professionals against potential claims for injury or loss resulting from their advice action for failure to fulfil their duties.

Sectoral meetings, held separately in two sessions through video conference, were also attended by Deputy Governors and other senior officers of RBI.

It could well be economically rewarding if the workers managed to get back to work in the cities and towns where they were engaged in before the lockdown, only if appropriate welfare measures reach them.

Petrol in Delhi now costs Rs 71.26 a litre as against Rs 69.59 previously, oil industry sources said.

An American financial organisation has agreed to sanction USD 15 million loan to an Indian education start-up to expand the access to quality education by providing critical financing to schools that serve low-income students in India.

The report said the increase in non-performing assets by 2-4 percentage points will need a government recapitalisation requirement by $7-15 billion.

India has provided a stimulus which doesn’t even equal a percent of the country’s GDP when other countries have already pumped funds far in excess into their respective economies.

Analysts agree that Covid-19 pandemic will lead to an increase in bank's gross non-performing assets with some reports pegging the stock to double as well.

Form GST PMT-09 provides flexibility to taxpayers to make multiple transfers from more than one head (major or minor) to another head (major or minor) and helps with the intra-head or inter-head transfer of amount available in electronic cash ledger.

Imports also fell, but only by 6.2 percent, as transportation and shipping began to close down worldwide.

These duty rate changes will come into effect from May 6.

The grim result for the industry, the engine of economic growth and jobs, underlined the pandemic's sweeping impact across India as authorities extended a nationwide lockdown.

Currently, authorised persons of employers have to go to the Employees' Provident Fund Organisation (EPFO) offices to get their digital signatures registered.

GSK has agreed to sell its entire stake in Unilever's Indian business for about 254.8 billion rupees ($3.35 billion) on the open market, cashing in late from the sale of the Horlicks brand.

It further said that although 2020 is a lost year, in terms of trade, India can think long-term and build relations so that it can occupy the space vacated by China.

The move from Kotak Mahindra comes weeks after the top management voluntarily surrendered 15 per cent of their payments for 2020-21.

The company also had to reduce production due to reduced demand.

India is prioritizing medical equipment suppliers, food processing units, textiles, leather and auto part makers among more than 550 products covered in the discussions.

Under this new product, an additional 30 basis points premium will be payable for senior citizen's retail term deposits with "5 Years & above" tenor only.

The world's largest steelmaker had posted a net income of USD 0.4 billion in the year-ago quarter.

The minister also noted that the pendency of dues owed to MSME units by the central government, state governments, public sector undertakings and major industries was "very high".

The Confederation of All India Traders (CAIT) has written to Commerce and Industry Minister Piyush Goyal seeking his intervention in the matter.

The state government on Thursday increased the VAT on petrol to 38 per cent from 36 per cent earlier while on diesel to 28 per cent from 27 per cent earlier.

She further said that state-owned banks implemented the moratorium announced by the RBI on repayment of loans.

This is the third high profile-investment in Reliance Jio in as many weeks.

Equity benchmark Sensex rallied over 600 points in opening session on Friday as strong gains in index-heavyweight Reliance Industries, massive foreign fund inflow and positive global cues boosted market sentiment.

Overall, the mutual fund industry witnessed net inflows of Rs 45,999 crore across all segments, data by the Association of Mutual Funds in India showed on Friday.

Finance Minister Nirmala Sitharaman in her Budget for 2020-21 had pegged gross borrowing in the new financial year at Rs 7.8 lakh crore, higher than Rs 7.1 lakh crore estimated for 2019-20.

Franklin Templeton Mutual Fund also issued an apology to Sebi and said that comments of its top executive Jenny Johnson were wrongly interpreted, diluting her responses about the reason for winding up of schemes.

The employers' organisations also sought relaxation of the provisions of the Industrial Disputes Act to treat the lockdown period as lay-off.

In the year-ago fortnight, bank loans had stood at Rs 96.20 lakh crore and deposits at Rs 124.83 lakh crore.

Earlier, such registrations/approvals were granted without any specific expiry period unless specifically withdrawn by concerned tax authority.

The bank had posted a net profit of Rs 969 crore in the corresponding January-March period of 2018-19.

According to the Tamil Nadu government, the committee comprises economists, industrialists, vice chancellors, bankers, government officials and others.

Georges Laraque, who is asthmatic, developed pneumonia in both lungs and was hit by nightly fevers post hospitalisation after testing positive for Covid-19.