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.

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.

After 40 days of lockdown, certain business activities like opening of standalone stores and e-commerce delivery of non-essential items have been allowed in green and orange zones (locations with few or no COVID-19 cases).

Affirms Issuer Default Ratings for seven banks including these four and Bank of India, Canara and PNB

With malls and shops closed, spending avenues are practically non-existent.

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

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

Dhawan will assume charge from Saturday in place of Ashish Agarwal, the current chief risk officer, who will be transitioning to a new role in the bank

Depositors to get up to Rs 5 lakh under deposit insurance on liquidation

Relaxation likely on branch audit as Guv meets bankers

The number of NPA accounts rose from 2,08,035 as of March 31, 2014, to 6,17,306 as of December 2019

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

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

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.

The lender had psoted a pre-tax loss of Rs 2,338.31 crore in the same quarter of previous financial year

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 State Bank of India (SBI) has introduced a special deposit scheme for senior citizens with a higher interest rate

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.

The rise in currency in circulatiom is perplexing when economic activity has nosedived. Generally, CIC should rise in tandem with growth in economic activities, as people need cash to transact

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

Besides SBI, other members of the consortium that has been cheated are Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank

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

Rana Kapoor and his family members allegedly got benefits worth Rs 4,300 crore through the companies controlled by them as kickbacks for sanctioning huge loans, the ED has alleged.

For overnight, one month, three months and six months, MCLR have been reduced to 7.40 per cent, 7.50 per cent, 7.60 per cent and 7.70 per cent, respectively.

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 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 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.

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.

“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

Brokers urge exchange and Sebi to work out an amicable price, as over 11,000 lots of open interest in the April contract were standing and couldn't be carried forward or squared off yesterday

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

Move spurred by unprecedented decline in demand; WGC is also working with large institutions for a bullion exchange in India, and with assaying centres to build consumers' trust

Though WTI recovered, investment in alternative fuels like shale has become unviable.

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

RIL's 35.2 million tonnes a year SEZ refinery processed 2.51 million tonnes of crude oil into fuel in March, a drop of 24 per cent year-on-year

The Rupee is finding resistance around 77.06 and upside momentum will continue above that level

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

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