The company plans to make investments of around Rs 210 crore on infrastructure development of the facility over the next four years. This new manufacturing facility will cater to the domestic and international business for Compaq televisions, for which it holds licence for multiple countries and regions.

Prasad, speaking after a virtual meeting with state IT ministers, also said India needed to capitalise on a huge electronics manufacturing opportunity that has been thrown open, as companies look to move of China in the wake of the Covid-19 virus outbreak.

Both LG and Samsung have opened bookings for various products on their websites for limited periods and are offering gifts of up to Rs 10,000 on pre-bookings made during the lockdown period. LG has opened pre-bookings till May 15 and Samsung by May 8.

Industry has also pitched for SPV with initial funding from govt, to help refinance small and mid-sized NBFCs

On April 27, the RBI had introduced the Rs 50,000-crore liquidity line for the MF industry

Capital infusion to be supported by IDFC limited, ICICI Prudential Life, HDFC Life, Warburg Pincus and Bajaj Allianz

The meeting will take stock of implementation of several steps announced by the RBI, including moderation in interest rate and its transmission, as well as liquidity infusion measures for industry

The meetings were also attended by deputy governors and other senior officers of the central bank, RBI said in a statement on its website

The RBI cancelled the licence of CKP Co-op Bank on April 28, and notified the cancelletaion on its website on Saturday. There it also said that deposits up to Rs 5 lakh are guaranteed by the DICGC

Mutual Funds say they didn't need to use their liquidity line fully

Suggestions from various quarters, including from Indian Banks' Association, have come for the further extension of moratorium and the RBI is actively considering them, according to sources.

Senior SBI executives said most of those seeking deferment are retail and micro and small enterprises and are hard-pressed for resources when earning and cash flows have almost dried up.

The motor and health segments led the decline in premiums for the industry as the month saw premium fall by 9 per cent.

In addition, West Bengal will also request the Reserve Bank of India (RBI) to increase the additional credit limit to MSMEs, to 30 per cent from the existing 10 per cent.

Economic slowdown hits activity, adding fuel to the fire

Axis' credit costs for the quarter ended March 31, 2020 are higher than anticipated, but some of it is precautionary

Considers 25 fresh credit proposals from shadow banks

There is a facility of standby line of credit for MSMEs as well as PNB COVID-19 Emergency Credit Facility (PNB-CECF), the bank said

During March-April 2020, PSBs sanctioned loans worth Rs 5.66 lakh cr for more than 41.81 lakh accounts

Bank sets aside Rs 334 cr for expected penalty for SLR breach

The company offers its retail customers housing and non-housing loans

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

RBI had earlier announced a three-month moratorium on loans by banks to NBFCs.

Those eligible for the benefit will have to show a cash shortage to prove that they will not use the relief to divert funds for other purposes.

The RBI has allowed banks to extend moratorium to borrowers of term loans of all kinds for three months -- March, April and May. "SBI has taken a decision to extend the moratorium allowed by RBI to the NBFC sector which is facing severe problem of cashflow," Khara said.

The borrowers represented the micro, small and medium sized enterprises (MSMEs), retail, agriculture and corporate sectors, which was indicative of an economic revival, said finance minister Nirmala Sitharaman’s office in a tweet on Thursday.

Union Bank of India announced reduction in its MCLR up to 15 basis points across all tenors, effective May 11. Overnight MCLR has been reduced by 15 bps to 7.15 per cent from 7.30 per cent and one-month MCLR by 10 bps to 7.25 per cent.

In the previous fortnight which ended on April 10, 2020, bank credit had grown by 7.20 per cent and deposits by 9.45 per cent.

“Anyone who has not been able to pay because of the moratorium, we have taken care to not report them to rating agencies,” Yes Bank managing director Prashant Kumar said. “Customers cannot be penalised for that.”

​​​The CBI had recently booked the company engaged in export of Basmati rice to the West Asian and European countries and its directors Naresh Kumar, Suresh Kumar and Sangita on the basis of complaint from the State Bank of India (SBI), which suffered the loss of more than Rs 173 crore, they said.

On Monday, the front-month US WTI benchmark crashed into negative territory for the first time ever in history

Global benchmark Brent crude also fell sharply in response to the collapse of demand following reduced economic activity

MCX said that it had settled the contract according to the formula in the contract, which has been followed for the last 15 years

Variables such as nominal gross domestic product (GDP), central bank balance sheets, or official gold reserves will remain the key determinants of gold prices.

Demand continues to remain high, as harvesting and shipping issues hamper supplies

Normally, farmers anticipate a huge bump in demand during the February-May season due to weddings and other such occasions

Global holdings of physically-backed gold ETFs and similar products jumped by 298 tonnes during the March quarter - the highest quarterly inflows for four years

Investment demand, though lower by 17%, was relatively better as sentiments towards equities turned negative and investors turned to gold's liquidity and safe haven status

Supplies remained unaffected and no unusual spike in prices says Mandi Chairman; 15 confirmed cases registered so far

So far, initial exports are estimated to be of the tune of Rs 600 crore which is minuscule compared to the polished diamond inventory

The industry would like to commence operations at the earliest to avoid cancellation of pending orders

In value terms, April imports dropped to $2.84 million from to $3.97 billion a year ago

According to the MCX data, the share of natural gas in the total volume of the exchange has almost tripled, while that of crude has reduced by more than half

Zero making charges may not work any more; store sales to be impacted as consumers buy online

The need to close the mandi arose after confirmed Covid-19 cases surpassed 80 within the APMC itself and shot past 450 across Navi Mumbai, where this mandi situated

Many schools across Nepal have made it mandatory for students to learn Mandarin lured by the Chinese government's offer to cover salaries of teachers who teach the language, a media report said on Saturday.

The Directorate General of Health Services (DGHS) on Monday informed the Supreme Court on Monday of its inability to "amicably" resolve the "stray vacancies" issue in connection with postgraduate medical courses in private medical colleges across the country. Nearly 450 seats are yet to be filled.

Coca-Cola said its financial contribution will be utilised for various purposes, which include activation of over 50 locations across 10 states in partnership with its bottlers to support the hydration needs of the underserved communities through distribution of beverages during the lockdown period.

Britannia Industries Ltd has launched a Store Locator service to enable consumers to find their favourite Britannia products in stores nearby.