Lockdown was easy, opening up to require a lot of confidence: Rashesh Shah

For most people living in red zones, the building WhatsApp groups and apartment apps have emerged as the new spaces to coordinate the buying and procuring of essential items. It has forced people to interact with those who were just familiar faces or flat numbers earlier.

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The LRS transactions are currently permitted by banks based on the declaration made by the remitter.

A report said that India (receiving USD 69 billion in remittances in 2017) was followed by China (USD 64 billion) and the Philippines (USD 33 billion).

Nearly 82 per cent of the total remittances received by the country originated from eight countries - the UAE, US, Saudi Arabia, Qatar, Kuwait, Oman, UK, and Malaysia.

India received $69 billion in overseas remittances last year, equivalent to almost 3 percent of GDP, Capital Economics said, citing World Bank data.

India is followed by China ($67 billion), Mexico and Philippines ($34 billion each), according to World Bank.

ET looked at data from 1990-91 to present, and the remittance-elections bump is evident.

India was followed by China (USD 67 billion), Mexico (USD 36 billion), the Philippines (USD 34 billion), and Egypt (USD 29 billion).

India was the top recipient of remittances worldwide in 2018, data from the World Bank shows. The remittances were boosted in part by migrants from Kerala sending.

India continues remains the top recipient of remittances, with its diaspora sending back $78.6 bn in 2018.

“The Directorate of Intelligence & Criminal Investigation (I&CI) of the income tax department during August and September 2019 obtained LRS data from several banks in Mumbai and Delhi and verification of the top 100 cases was undertaken. However, nothing adverse was found,” said the report, which was submitted to SIT probing black money earlier this year.

The payments bank sees average monthly remittances of close to Rs 5,000 crore from daily wage earners working in various factories, construction sites, small businesses, plumbers, carpenters, cab drivers, among others.

They said while the government is strictly enforcing the COVID-19 lockdown, the additional restrictions were imposed on Friday to ensure that the day passes off peacefully.

This is the phase two of the Modernisation of Airfield Infrastructure (MAFI) programme, the ministry said, adding that airfields of the Indian Air Force were upgraded in the first phase.

Union Home Minister Amit Shah chaired a meeting of the DGs of all Central Armed Police Forces (CAPFs) where he appreciated the commendable work done by these forces and expressed concern over increasing COVID-19 cases, a home ministry spokesperson said.

With donations to the PM-Cares Fund and Covid-19-related relief work eligible to be considered CSR expenditure, most companies are likely to nearly exhaust their current CSR budgets after donating to this fund or related relief work.

India Inc’s first attempts to move goods across states after the easing of lockdown curbs were hobbled by expired e-way bills which made it near impossible for transporters to cross checkpoints.

There has been a 35-40% increase in the number of cases of stress and panic attack in April over previous months, according to data from counselling firms. A large number of the callers seek cure for mental stress arising out of social isolation and the workfrom-home milieu — leading to anxiety, depression, loneliness.

Industry captains say economy and jobs must be central focus now, and policymakers have to recognise that the country will have to live with and work around Covid-19. India Inc’s growing call on reopening India for business comes amidst a blizzard of grim economic forecasts. Economic growth in FY21 can be negative, according to Nomura, ICRA and others.

“I have been trying for the last two years to pursue the scrappage policy. I have asked the Secretary (ministry of road transport and highways) to expedite the scrappage policy. Because this will help reduce production cost,” Gadkari said in an interaction with SIAM Institute on Thursday.

China on Friday named its first Mars exploration mission to be launched later this year as Tianwen-1 as it celebrated 'Space Day' to mark the 50th anniversary of the launch of the country's first satellite Dong Fang Hong-1 in 1970.

The tale of ITER’s missing shims shows how even the best-laid contingency plans have had to be rewritten.

The scientists, including those from the University of Sheffield in the UK, said overuse of antibiotics, high animal numbers, and low genetic diversity caused by intensive farming techniques increase the likelihood of these pathogens becoming a major public health risk.

CSIR's Institute of Genomics and Integrative Biology (IGIB), Delhi, Centre for Cellular and Molecular Biology (CCMB), Hyderabad and Institute of Microbial Technology, Chandigarh are currently sequencing the genomes of the novel coronavirus, he said. Other CSIR institutes are also expected to join the process.

The tenure of the instrument is two years and 364 days from the deemed date of allotment.

These will be issued in three tranches of Rs 500 crore, Rs 300 crore and Rs 200 crores with redemptions due on September 30, 2022, November 28, 2022 and December 29, 2022 respectively, it added.

The company said that it will seek shareholders' nod for raising up to Rs 2,500 crore through QIP.

On April 28, Tata Motors had said it would be issuing non-convertible debentures worth Rs 1,000 crore.

A hike in taxes on fuels, which will add to government’s revenue, helped lift sentiment.

The company's total income declined 17.90 per cent YoY to Rs 449.62 crore in the January-March quarter

The postponed Tokyo 2020 Olympics will be cancelled if the coronavirus pandemic isn't brought under control by next year, the organising committee's president said in comments published Tuesday.

Tendulkar made the donation to the Hi5 Foundation, a non-profit organisation based out of Mumbai.

US West Texas Intermediate (WTI) crude rose $1.78, or 7.4 per cent, to $25.77, on track for its highest close since April 6 and up more than 30 per cent this week.

The iconic Statue of Liberty. Image courtesy - iStock Welcome to the Empire State, otherwise known as New York. The state is home to profound experiences wi...

Railways stations that are India's pride.

In a telephonic interview Mumbai-based Sharma talks about her own experiences as a single woman and what has changed for single women over the years and what hasn’t.

Both phones will come in 8GB + 128GB and 12GB + 256GB storage variants.

‘This deal will probably give Jio access to a lot of enterprise software providers’

‘Investors focusing on predictability, sustainability and better quality businesses’

‘Don’t sell but use dips in the market to deploy money’

‘Industry leaders would benefit from both the demand revival as well as consolidation.’

Privately-held real estate investment firm Cain International has signed an agreement with the Oberoi Group for the operation of 23 serviced residences in Mayfair in London.

The Commission of Railway Safety, which investigates all serious rail accidents and clears all rail projects, also said that now that such an incident of migrant or other persons walking along the tracks leading to consequent deaths have come to notice, all-out efforts must be made to prevent recurrence of such incidents in future.

Shramik special trains were run from May 1 on the request of different state governments. The railways has suspended passenger, mail and express trains to combat the spread of novel coronavirus (Covid-19) since March 24.

The task force, in a report released on Thursday, acknowledged stress in the telecom sector and said the Supreme Court judgement mandating companies to pay around Rs 1.35 lakh crore has placed some operators in a "precarious position" due to the short period of time in which they have to meet their liabilities.

This will be the first Open House Discussion (OHD) to be conducted by the regulator during the lockdown and also first such discussion to happen through video-conferencing mode.

The Indian unit of Fiberhome, a Wuhan-based producer of fibre optic, had in mid-2019 bagged a pan-India fibre-based network programme contract from PGCIL that aims to offer broadband services and resell bandwidth to public departments.