April 04, 2020

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RBI

4
Apr

RBI/2019-20/205 (Delhi)
Exim Bank's Government of India supported Line of Credit (LoC) of USD 161.36 million to the Government of the Republic of Burundi

4
Apr

RBI/2019-20/206 (Delhi)
Export of Goods and ServicesRealisation and Repatriation of Export Proceeds-Relaxation

4
Apr

RBI/2019-20/207 (Delhi)
Amendment to Master Direction (MD) on KYC

4
Apr

RBI/2019-20/208 (Delhi)
Rupee Drawing Arrangement – Remittance to the Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM-CARES) Fund

4
Apr

RBI/2019-20/208 (Delhi)
Rupee Drawing Arrangement – Remittance to the Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM-CARES) Fund

30
Mar

RBI/2019-20/178 (Goa)
Large Exposures Framework

30
Mar

RBI/2019-20/179 (Delhi)
Priority Sector Lending - Lending by banks to NBFCs for On-Lending

30
Mar

RBI/2019-20/180 (Delhi)
Formation of new Union Territory of The Dadra and Nagar Haveli and Daman and Diu - Assignment of UTLBC Convenorship

30
Mar

RBI/2019-20/181 (Delhi)
Formation of new district in the State of Chhattisgarh – Assignment of Lead Bank Responsibility

30
Mar

RBI/2019-2020/182 (Delhi)
Liquidity Adjustment Facility – Repo and Reverse Repo Rates

30
Mar

RBI/2019-2020/183 (Delhi)
Marginal Standing Facility

30
Mar

RBI/2019-20/184 (Delhi)
Standing Liquidity Facility for Primary Dealers

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LIVE MARKET

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INDIAN ECONOMY

Economic Policy: India’s biggest challenge in time of Coronavirus

Since the nationwide lockdown on March 24, various branches of the Indian government have issued dozens of notifications to clarify the scope of the lockdown, develop the health system’s response, and support the real economy and the financial system. These are illustrations of the strength of the Indian ruli...

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Govt’s fiscal stimulus may hit deficit target but no worries; here’s what may bring money

As economic activities have come to a halt due to coronavirus-induced lockdown in the country, the government’s fiscal stimulus may play a major role in combating the situation. While it will make a severe dent in the fiscal deficit numbers, to keep the economy running is on the centre’s priority so far. Give...

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Remittances to Bharat hit by return of the native

Domestic remittances, usually from big cities and more affluent areas to India’s rural hinterland, plunged about 80% in the past two weeks, triggered likely by a sudden loss of jobs and the return of the migrant workers to their homes. The Centre’s decision to transfer funds directly to their bank accounts mi...

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Ministers’ panel talks road map after lockdown

The group of ministers (GoM) tasked with reviewing the Covid-19 pandemic situation on Friday discussed the way forward for getting key sectors back on track after the lockdown is lifted, with a special focus on agriculture and the rapid supply of testing kits to rural areas. The three-week lockdown is schedul...

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India, China could explore measures to boost trade hit by Covid-19

India and China are expected to discuss steps and explore measuresof boosting bilateral trade which has been significantly impacted by the coronavirus outbreak. China is a major market for Indian products including seafood, petrochemicals, gems and jewellery, but India’s export of these products to its nei...

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'India may post lowest growth in post-reform period in FY21'

Indian economy, which was already in slowdown phase for last six quarters, could register the lowest growth in the post-reform period in 2020-21 despite strong monetary and fiscal stimulus measures, an eminent economist said on Friday. N R Bhanumurthy, a Professor at National Institute of Public Finance an...

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MARKET & FINANCE

Bond yields rise as market participants worry over additional supply of bonds

Bonds sold-off on Friday with the benchmark yield closing 17 basis points higher at 6.305% as concerns of over-supply of bonds in the market and a lack of indication of how the central bank intends to absorb any potential additional borrowing by the government in the wake of the Covid-19 crisis led to disappo...

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RBI cuts trading hours for money, other financial markets; cites these risks

Lockdowns, social distancing, restrictions on the movement of people and non-essential activities have not only pulled brakes on economic activities but the trading hours in the financial markets have also been decreased. RBI has cut the trading hours of various markets up to 4 hours daily. The money market w...

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FPI holding limits for all listed stocks raised to sectoral limits

National Securities Depository Ltd (NSDL) and Central Depository Services Ltd (CDSL) on Friday revised Foreign Portfolio Investment (FPI) limits for all listed stocks on Indian bourses. With Friday’s move, FPI limit in certain stocks has gone up to 100 per cent. The move is likely to increase India’s weigh...

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Forex reserve surges by $5.65 billion to $475.56 billion

After falling massively in the week ended March 20, the country's foreign exchange reserve surged by $5.65 billion to $475.56 billion in the week ended March 27, helped by an increase in foreign currency assets, according to the latest data from the Reserve Bank of India (RBI). In the week ended March 20, ...

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Bond market disappointed with borrowing plan of Centre, states

Bond yields shot up on Friday as dealers expressed disappointment on heavy weekly borrowing numbers, while there was no news on private placement with the Reserve Bank of India (RBI). Despite the government and the RBI earmarking five specified securities for foreign portfolio investors (FPI), it will take...

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GLOBAL CORPORATE

Covid-19: EU waives duties, VAT on imported medical devices until July 31

The European Union (EU) has announced to temporarily waive customs duties and value-added tax (VAT) on the import of medical devices, and protective equipment, from non-EU countries to help the fight against coronavirus. The decision to approve the requests from member states and the UK was made to to make...

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Lockdown hits business activity across Europe

Business activity has cratered across Europe as attempts to contain the coronavirus pandemic push governments to shut down vast swathes of their economies, from shops to factories to restaurants, surveys showed on Friday. Governments in the euro zone have unveiled unprecedented stimulus measures and the Europ...

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Custom

CBIC allows traders to import, export goods without furnishing bonds

The Central Board of Indirect Taxes and Customs (CBIC) has allowed traders to submit an undertaking instead of furnishing bonds – required by customs for assessment and clearing of goods – in order to prevent delays or disruption in exports or imports caused by Covid 19 pandemic. The decision was taken aft...

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GLOBAL ECONOMY

Trade Report
Country Month Link
Switerzland July 2019 Click
S&P confirms US AA+ rating with stable outlook

The financial rating agency Standard and Poor’s confirmed on Thursday the AA+ rating for the United States’ long-term debt despite the recent passage of a historic $2 trillion aid package to combat the novel coronavirus. S&P al...

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ADB warns global cost of virus could top $4 trillion

The coronavirus pandemic could cost the global economy $4.1 trillion as it ravages United States, Europe and other major economies, the Asian Development Bank warned on Friday The estimated impact is equivalent to nearly five perc...

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Jobs destroyed worldwide as coronavirus sparks recession

The world’s workers are reeling from the initial shock of the coronavirus recession, with job losses and welfare claims around the globe already running into the millions this week. As the International Labour Organization warn...

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Rs 2.5 trn economic loss, 18.5 mn may lose jobs: Pak on coronavirus impact

Pakistan has estimated that up to 18.5 million people in the country could lose their jobs and the economy will sustain a loss of nearly Rs 2.5 trillion in three months due to the coronavirus pandemic, according to a media report ...

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Coronavirus: UK among economies risking record slump

The coronavirus pandemic could trigger a global slump bigger than the Great Depression of the 1930s, a closely watched international survey suggests. Manufacturing and services sectors in key geographical areas, including the U...

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Fitch sees global growth contracting by 1.9 per cent in 2020

Fitch Ratings on Friday projected that the global economy will fall into a deep recession in 2020 due to the massive disruptions caused by the Covid-19 pandemic, with growth print contracting by 1.9 per cent, pulled down by larger...

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China frees up $56 bln for virus-hit economy by slashing small banks' reserve requirements

China's central bank said on Friday it was cutting the amount of cash that small and mid-sized banks must hold as reserves, releasing around 400 billion yuan ($56.38 billion) in liquidity to shore up the economy, which has been ba...

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Covid fight is a balancing act for world's economies: World Bank India Chief

The Coronavirus pandemic is having a strong impact on the global economy. Questions are rife about the possible economic and financial fallout of asking a third of the world's population to stay home and shutting down factories. ...

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INDIAN CORPORATE

Tata Motors downgraded by S&P Global Ratings ‘B’ from ‘B+’

S&P Global Ratings on Thursday downgraded both the long-term issuer credit rating on Tata Motors and its long-term issue rating on the company’s senior unsecured notes to ‘B’ from ‘B+’. The rating agency expects operating conditio...

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JSPL FY20 crude steel output grows 12% to 8.17 MT

Jindal Steel and Power Ltd (JSPL) on Friday said its annual crude steel production and sales figure for the fiscal year ended March 31, 2020 stood at 8.17 million tonne (MT) and 7.92 MT, respectively. In 2018-19 fiscal, the consol...

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Amul beats slowdown: RS Sodhi-led FMCG firm’s turnover grows double-digit in FY20

While many FMCG companies reported slow growth rates in the last financial year 2019-20 owing to an economic slowdown, the Gujarat Cooperative Milk Marketing Federation Ltd (Amul) has reported a 17% increase in its turnover for th...

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Relief measures announced by govt, RBI not enough, says India Inc

India Inc is near unanimous in its view that the relief measures announced by the Reserve Bank of India (RBI) and the government are not enough, even as it seeks a comprehensive stimulus package from the state to combat the advers...

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M&M rolls back plan to invest Rs 3,000 crore into Ssang Yong Motors

Mahindra & Mahindra Ltd has rolled back plans to infuse fresh funding into SsangYong Motor Company (SYMC). In February, M&M had announced a fund infusion of 450-500 billion Korean Won (Rs. 2,700-3,000 crore) to bring its South Kor...

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Keeping store-shelves stocked is Britannia’s challenge

Stocked out shelves, supply chain disruptions, under-utilised plants, shut distributors, ‘feet-on-ground’ salesmen not turning up... All of these are a business chief’s worst nightmare. But that’s the reality for everyone now, say...

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GST

GST ease amid Covid 19: E-way bill validity extended, 10% ITC deferred

The government extended the validity of e-way bills till April 30, that were set to expire between March 20 and April 15, giving a big relief to industry grappling with issues of supplies and goods stuck in transit amid the nationwide lockdown due to Covid 19. “Where an e-way bill has been generated and it...

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