Govt to undertake measures to increase demand: Sanjeev Sanyal : Bulletin: Business Today
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Govt to undertake measures to increase demand: Sanjeev Sanyal

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July 10, 2020

PNB reports over Rs 3600 crore loans to DHFL as fraud

Punjab National Bank said on Thursday it had reported loans made to Dewan Housing Finance Corporation Ltd worth 36.89 billion rupees ($491 million) to India's central bank as "fraud." Indian state-owned lender PNB, which was hit by a $2 billion fraud involving billionaire Nirav Modi in 2018, had already set aside 12.5 billion rupees in provisions for the loans to DHFL, which is in bankruptcy proceedings.

Uttar Pradesh govt imposes coronavirus lockdown from July 10 to July 13

In wake of rising number of coronavirus cases, Uttar Pradesh government on Thursday imposed a lockdown in the state starting 10 am on Friday, July 10 till 5 am on July 13. The Yogi Adityanath-led state government has taken this decision to cut the chain of transmission of coronavirus, Chief Secretary Rajendra Tiwari said today.

Reliance to load Venezuelan crude oil under swap deal

India's Reliance will load its first cargo of Venezuelan crude in three months this week in exchange for diesel under a swap deal the parties say is permitted under the U.S. sanctions regime on the Latin American country, according to a Reliance source and a shipping document from state oil firm PDVSA. An oil tanker named Commodore would load the cargo of crude in Venezuela and ship it to India.

RIL-BP launch fuel and mobility joint venture under 'Jio-bp' brand

Mukesh Ambani-led Reliance Industries and UK's energy major BP plc on Thursday announced the launch of Reliance BP Mobility Limited (RBML), a fuel and mobility joint venture. Operating under the "Jio-bp" brand, the joint venture aims to become a leading player in India's fuels and mobility markets, RIL said in a regulatory filing.

Consumer sentiment improves in June as per Sentiment Index

Govt to undertake measures to increase demand; fiscal, monetary headroom available: Sanjeev Sanyal

Asserting that economic activity is steadily coming back on track, Principal Economic Adviser Sanjeev Sanyal on Thursday said the government will undertake measures to boost demand and there is both monetary and fiscal headroom available. He hinted that the Reserve Bank of India (RBI) may further cut interest rates as a monetary policy tool to perk up demand. He was speaking at the India Global Week 2020.

US bans Pakistan International Airlines flights over pilot certification concerns

The U.S. Department of Transportation said it has revoked permission for Pakistan International Airlines (PIA) to conduct charter flights to the United States, citing Federal Aviation Administration (FAA) concerns over Pakistani pilot certifications. The information is contained in a revocation of special authorisation dated July 1. Pakistan last month grounded almost a third of its pilots after discovering they may have falsified their qualifications

Covid-19 vaccine should reach 20% population in each country: WHO

The World Health Organisation (WHO) and its alliance partners including the vaccine alliance, Gavi, said the goal is to create 2 billion Covid-19 vaccine doses by 2021. It also assures that there will be enough doses to go around, initially to protect some of the highest-risk groups, including those that would otherwise be unable to afford it-particularly poor and developing countries.

Indoor airborne spread of coronavirus possible under certain conditions: WHO

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