RBI announces special liquidity scheme for NBFCs and HFCs through a SPV

Mumbai/IBNS: In the bid to improve the liquidity position of the NBFCs and HFCs amid the sagging economic situation triggered by Covid-19 pandemic, the government has approved a special scheme to prevent potential systemic risk in the financial sector, the Reserve Bank said on Wednesday.

Covid-19 puts brakes on automobile, auto parts exports in May: EEPC India

Kolkata/IBNS: Covid-19 public health crisis has taken a massive toll on exports of India's automobiles in May, 2020  with  as much annualised erosion as 98 per cent and 65 per cent in shipments to key  markets like the US and Mexico respectively, according to an EEPC India analysis.

What will power the post-pandemic global economic recovery?

New York/IBNS: As governments try to kick-start their economies, the UN is calling for recovery plans to be built around low-carbon technologies, to avoid a return to fossil-fuel based business as usual.

CERT warns against possible phishing attack in India

Kolkata/IBNS: The Indian Computer Emergency Response Team (CERT-In) has issued an advisory recently warning about a possible phishing attack by cyber criminals against people in India with the intent to steal personal data, including bank account information, using the email id - ncov2019@gov.in.

Glenmark's shares surge after getting government approval for Covid-19 drug

Mumbai/IBNS: The shares of Glenmark Pharmaceuticals on Monday surged days after getting an approval from the Drugs Controller General of India (DCGI) to market and manufacture antiviral drug Favipiravir, to be sold under the brand name FabiFlu, for the treatment of Covid-19 patients having mild to moderate symptoms.

COVID-19 could drive global poverty back over one billion people: Study

New York: In dramatic new numbers researchers estimate that extreme poverty could spike as a result of the COVID-19 pandemic, on the day the postponed meeting of the world’s richest nations, the G7, should have finished.

ParleG records unprecedented sales during the lockdown period; Twitter applauds with #BharatKaApnaBiscuit

Mumbai/IBNS: Parle G, the biscuit brand which has been a favourite of the masses since decades, recorded unprecedented sales during the lockdown period, said a senior company official, according to media reports.

Coronavirus: World Bank confirms deepest recession since World War Two

New York/IBNS: The COVID-19 pandemic will shrink the global economy by 5.2 per cent this year, representing the deepest recession since World War Two, and triggering a dramatic rise in extreme poverty, the World Bank said Monday in its latest Global Economic Prospects report.

Bharti AXA Life Renewal income rise 17% to Rs 1,359 cr in FY20

New Delhi/IBNS: Bharti AXA Life Insurance today said the company registered 17% growth in its renewal premium to Rs 1,359 core for the year ended March 31, 2020, against Rs 1,164 crore in the last financial year 2018-19.

India's foreign exchange reserves soar amid Covid-19 pandemic

Mumbai/IBNS: At a time when India is facing a fresh economic challenge triggered by coronavirus pandemic, the Reserve Bank of India said country's foreign exchange reserve has increased by USD 3.43 billion to a new all-time high of $493.48 billion for the week ended May 29 following handsome accumulation of the core currency assets.

COVID-19 fallout to cost US economy 7.9 tln USD over next decade: CBO

Washington/Xinhua/UNI: Fallout from the COVID-19 pandemic will shrink the size of the U.S. economy by 7.9 trillion U.S. dollars over the next decade, according to new projections released by the Congressional Budget Office (CBO) on Monday.

ODWEN solves the last-mile delivery problem amid Covid-19 pandemic

New Delhi/IBNS:  Techstars Bangalore Class of 2020 start up ODWEN brought in a much-needed technology solution to create an integrated warehousing platform amid the Covid-19 pandemic.

Bengal Chamber organises webinar #RESETINDIA2020 to discuss business strategies post Covid-19

Kolkata/IBNS: To discuss ways to bounce back and find a way forward in all business sectors post Covid-19, a webinar #RESETINDIA2020 was organized by The Bengal Chamber on Thursday.

Nissan India launches innovative customer centric offers and services

Kolkata/IBNS: Nissan India has introduced new car finance schemes and redefined its pick-up and drop service to empower customers with peace of mind and convenience.

Nirmala Sitharaman starts her third press briefing 

New Delhi/IBNS: Indian Finance Minister Nirmala Sitharaman on Friday is addressing her third press conference on providing details about the economic package announced by PM Narendra Modi this week during his national address.