Relaxation likely on branch audit as Guv meets bankers

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.

Private banks put up a better show than other card financiers

Debt of Centre and states combined is over 70% of GDP already; country is currently just a notch above junk

The outstanding portfolio of private banks in the credit card space has increased by 59 per cent year-on-year while other issuers saw a 20 per cent growth in 2019 over 2018.

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

The bank saw a healthy growth of 37 per cent in its operating profit at Rs 765 crore compared to Rs 560 crore a year ago.

State Bank of India, ICICI and some lenders are trying to resurrect the ‘bad bank’ plan.

The Covid-19 crisis is expected to have a heavy impact on the economy and many corporates have been cutting salaries. Some have also retrenched staff, with the unorganised sector being hit the most. The unemployment rate in India touched 27 per cent in the week to May 3, according to think-tank CMIE.

The SBI official said the employee was not attending office for the last 8-10 days and was later found to have contracted the deadly virus.

"Given that 2020 is going to be an exceptional year with government borrowings set to jump, we believe the time has now come for increasing the demand for bonds by having the necessary amendment in the RBI Act used effectively so that conduct of reverse repo and term reverse repo operations are completely non-collateralized," it said.

A `Bad Bank' is being touted as the panacea for industry’s ills, yet again.

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.

Report points to the possibility of grains being hoarded by farmers and traders to be sold at a later date when mandi operations and logistics normalise

The mineral lobby body has appealed to the Union finance ministry to exempt bauxite exports from duties

Earlier the strawberry growers here had to suffer losses following a hailstorm, now that the markets are shut, the strawberry produce is yet to be sold

Some farmers told ANI that they are facing problems as there is shortage of labour and they are not able to send their produce to the market due to the lack of transport facilities

Record high local prices, coupled with short-term pressure on household finances, could encourage people to sell gold

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

Physical sales were very limited due to the lockdown and sovereign gold bonds were one of the few avenues available to invest in the precios metal

A disruption in supply chain means that the arrival of commodities across the nation's main mandis remained a cause of concern

Silver on the hourly chart is trading in a symmetrical triangle pattern with a breakout above 43,300 and breakdown below 42,200

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

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

Students from the Muslim community received about 80 per cent of total scholarships offered under 20 Central government schemes in 2018-19, official data shows.

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.

In a sensational turn of events, four departmental heads of the Rabindra Bharati University have stepped down alleging racist slurs targeted against them by state's ruling Trinamool Congress students wing members.

All private universities in Uttar Pradesh will now have to give an undertaking to the government, saying that their campuses will not be allowed to be used for "any anti-national activity", a new ordinance says.

Beverages maker Coca-Cola’s company-owned bottling partner Hindustan Coca-Cola Beverages has bucked the general trend of companies resorting to pay cuts and job cuts amid the Covid-19 pandemic, announcing 7-8% salary increment to its 7,000 direct employees with effect from April 1, 2020.

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.

“While during the early days of lockdown basic essentials got sold, with time some discretionary sales are coming back,” said Devendra Chawla, MD at Nature’s Basket and Spencer’s Retail that saw 30-60% growth in sales for cold cuts, exotic vegetables, assorted breads and cakes, cookies, international sauces, organic range of staples in last ten days.

Dairy major Amul has written to the central government requesting clarifications on claims made by local authorities, and even some factions of the Gujarat government, that consumption of chilled products like ice-cream spread coronavirus.

“There is absolutely no income coming our way due to the Covid-induced lockdown for over a month. As a result, most companies are facing the problem of paying the employee salaries in full for the month of April,” said National Restaurant Association of India president Anurag Katriar.

The maker of Saffola and Parachute oil said consumption habits are evolving due to current situation, and its new launch will help bridge the gap in kitchen hygiene. Marico had earlier entered the hand hygiene segment by extending Mediker brand.

Meanwhile, several retailers have reported an increase in sales of their private labels, which filled the gaps as supply lines from other manufacturers were disrupted.

CII suggested government to consider measures such as rationalization of GST on value added products such as butter and ghee to build market resilience. CII also suggested the government to distribute liquid milk through mid-day meal schemes to ensure nutrition availability for children.

The US burger and fries giant has joined other restaurant chains including Jubilant FoodWorks-operated Domino's Pizza, Tata Starbucks and Speciality Restaurants in seeking waivers from landlords and mall owners.

Fresno, CA : Alliant International University, California School of Professional Psychology, 2008

Cham : Springer, 2020

New York : The Guilford Press, [2020]