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BusinessToday.In
March 29, 2020
Bank of India has also cut benchmark marginal cost of funds based lending rate (MCLR) by 25 bps across tenors from one year to one month, and by 15 bps for overnight tenor. The one-year MCLR is now 7.95 per cent per annum


PTI
New Delhi, March 29, 2020
The government on March 4 had notified the amalgamation schemes for 10 state owned banks into four as part of its consolidation plan to create bigger size stronger banks in the public sector


Vivek Dubey
New Delhi, March 28, 2020
The MSME Ministry, in a statement to industry bodies including FISME, said, ''Government of India would like to reach out to you if you are in the field of manufacturing or supply of following items related to use in COVID-19 (Coronavirus)\"


BusinessToday.In
New Delhi, March 27, 2020
Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report


BusinessToday.In
New Delhi, March 27, 2020
In a bid to maintain stability in the financial system in the wake of coronavirus pandemic, the Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that Rs 3.74 lakh crore liquidity will be injected into system through various measures. As part of liquidity infusion measures, the central bank announced a massive 75 basis points cut in repo rates to revive economic growth which has been hit hard by the COVID-19 outbreak. Watch the video for more.Also Read: How RBI's Rs 3.74 lakh crore stimulus will impact financial markets


BusinessToday.In
New Delhi, March 27, 2020
Following a 75 basis points reduction in interest rate, SBI's external benchmark linked lending rate (EBR) will come down to 7.05 per cent per annum from 7.80 per cent earlier


Niti Kiran
March 27, 2020
A CRR reduction or revision was never coupled with repo or reverse repo rate revision since the central bank was nationalised in 1949


Aprajita Sharma
March 27, 2020
The EMI holiday will not only give a big relief to salaried employees of struggling companies, fearing a delay in the salary, pay cuts and even job loss but also self-employed individuals staring at income loss


BusinessToday.In
New Delhi, March 27, 2020
Finance Minister Nirmala Sitharaman has announced a comprehensive package of Rs 1.7 lakh crore for the economically weaker sections of the society hit by coronavirus; Walmart Inc's Flipkart is all set to resume its grocery and essential services after the local law enforcement authorities assured the e-commerce giant of safe passage of supply chain and delivery executives; Former Reserve Bank of India Governor Raghuram Rajan has said that the lockdown is not enough to contain coronavirus in the country. He added that the lockdown will be substantially harder for the poorer sections of society. Watch this and more on News Blast.Also Read: Coronavirus: Top govt official warns not all international passengers monitored


Sumant Banerji
March 27, 2020
Major relief measures sought by the industry also include relaxation in fixed electricity charges and relaxation in levy demurrage charges for at least 7 days for import cargo clearance


BusinessToday.In
New Delhi, March 27, 2020
SBI Chairman Rajnish Kumar said that the bazooka of conventional cash reserve ratio (CRR) cut by 100 bps and unconventional liquidity measure of incentivising banks will lift the spirit of financial market


Anand Adhikari
March 27, 2020
RBI's list of announcements included a repo rate cut of 75 basis points, Rs 3.74 lakh crore liquidity boost, and deferment of loan instalments for 3 months, among other things


Manoj Sharma
New Delhi, March 27, 2020
RBI on Friday key cut interest rate by steepest -- 75basis points to 4.4 per cent -- in more than 15 years as it joined the Modigovernment efforts to tackle coronavirus impact


BusinessToday.In
New Delhi, March 27, 2020
By announcing targeted long term repo operations and reducing CRR, the RBI has ensured that the dislocations in financial markets get addressed to great extent, says FICCI President


BusinessToday.In
March 27, 2020
Prime Minister Narendra Modi said, 'RBI's announcements will improve liquidity, reduce cost of funds, help middle class and businesses'


Anand Adhikari
March 27, 2020
These are 'extraordinary' measures because of an unprecedented situation that the outbreak of Covid-19 has created in the global economy


Chitranjan Kumar
New Delhi, March 27, 2020
The policy measures taken by the RBI will sizeably expand liquidity in system, which will ensure that financial markets and institutions are able to function normally in face of coronavirus related dislocations


BusinessToday.In
New Delhi, March 27, 2020
Coronavirus relief: Finance Ministry urges RBI to pause EMI, loan repaymentsFinance Ministry has asked the Reserve Bank of India to consider emergency measures to help borrowers cope with economic pressure triggered by the COVID 19 outbreak. Coronavirus outbreak has led to reduced business activity and has already resulted in layoffs and salary cuts. Meanwhile, Finance Minister Nirmala Sitharaman has announced a comprehensive package of Rs 1.7 lakh crore for the economically weake...


Anwesha Madhukalya
New Delhi, March 27, 2020
Shaktikanta Das Press Conference update: The RBI Governor said that depositors of commercial banks, including private sector banks, need not worry on the safety of their funds


Chitranjan Kumar
New Delhi, March 27, 2020
Shaktikanta Das said that the RBI has already injected liquidity of Rs 2.8 lakh crore in the financial markets through various instruments, which equals to 1.4 per cent of GDP


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