Banks

The Mahagujarat Bank Employees’ Association in Surat wants operations to be restricted in containment zones

The Mahagujarat Bank Employees’ Association has written to the Surat Municipal Commissioner Banchanidhi Pani and District Collector Dr Dhaval Patel asking that banks in contaminants zones be either closed or their operations restricted. Surat has been witnessing a surge in COVID-19 cases. The association has said that many of the banks are operating from COVID-19...

Mallya may be extradited to India anytime in coming days, say media reports

Indian business tycoon Vijay Mallya, who is wanted in several cases for defrauding banks of crores of rupees, can be extradited to India anytime in the coming days, a news agency report said. The report quoted government sources as saying that the legal process for the same has been completed. Mallya had earlier lost his...

RBI extends moratorium on loans by another 3 months

The Reserve Bank of India (RBI) said on Friday the three-month moratorium on payment of installments on term loans to banks, non-bank financial institutions (NBFCs), including housing finance companies, and other financial institutions is being extended by another three months. “In view of the extension of the lockdown and continuing disruption on account of COVID-19,...

RBI cuts reverse repo rate by 25 basis points to push banks towards lending

The Reserve Bank of India (RBI) unexpectedly cut its key deposit rate for the second time in three weeks on Friday to discourage banks for parking idle funds with it and push them toward lending to revive the flagging economy amid the coronavirus lockdown. The RBI cut its reverse repo rate by 25 basis points...
Sensex rallies 2,476 points in biggest single-day gains since 2009

Sensex rallies 2,476 points in biggest single-day gains since 2009

Firing on all cylinders, the bulls made a terrific comeback on Tuesday with the benchmark indices posting their biggest single-day gain since May 18, 2009. Supportive global cues and hopes that coronavirus spread may have peaked in key global centres, boosted investor sentiment. The S&P BSE Sensex today reclaimed the crucial psychological level of 30,000....

Markets tank again amid coronavirus scare

Indian shares ended lower on Monday as coronavirus cases in Asia’s third-largest economy rose to over a thousand, stoking concerns about the impact on businesses and growth. The broader NSE Nifty 50 index closed down 4.38 per cent at 8,281.1 and the benchmark S&P BSE Sensex was 4.61 per cent lower at 28,440.32. Government data...