Saurav Mukherjee

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India Mar 27, 2020

ITC Sets Up Rs 150 Crores COVID-19 Contingency Fund for Vulnerable Sections, Says 'Move is a Meaningful Support to Contain This Pandemic'

ITC limited on Friday set up Rs 150 crores COVID-19 Contingency Fund for vulnerable sections of society to provide a meaningful support to contain this pandemic. ITC chairman Sanjiv Puri said that the contingency fund is in line with ITC’s credo of ‘Nation First – Sab Saath Badhein’
India Mar 26, 2020

G20 Virtual Summit 2020 on Coronavirus: PM Narendra Modi Calls for 'Open Sharing of Medical Research for Development of Humankind'

Addressing the G-20 Virtual Summit 2020 via video conferencing, PM Modi called for sharing freely and openly medical research for development of humankind. He also pitched for developing more adaptive, responsive, affordable, human healthcare system to be deployed globally and sought strengthening of global organisations like WHO to deal with healthcare issues.
India Mar 26, 2020

YES Bank Reconstitutes New Board With Immediate Effect, Appoints 8 Members

The YES Bank board was reconstituted with immediate effect with the appointment of eight members under the pursuant to YES Bank Limited Reconstruction Scheme, 2020. In the new board, three members are non-executive directors, two are from RBI and two are from SBI and notified Prashant Kumar as Managing Director and CEO.
India Mar 24, 2020

Nirmala Sitharaman Announces Financial Measures to Combat Economic Loss Due to COVID-19 Spread, Here Are Top 10 Announcements by Finance Ministry

Union Finance Minister Nirmala Sitharaman on Tuesday announced a slew of measures taken by the Finance Ministry to combat the economic loss due to the coronavirus pandemic in the country. Here are top 10 announcements.
India Mar 18, 2020

AGR Case: Supreme Court Lambasts DoT, Telecoms on Undertaking Self-Assessment of Dues, Says 'We Won’t Tolerate This'

The Supreme Court slammed the Department of Telecommunications on the adjusted gross revenue (AGR) case which the telecom firms have to pay. The apex court asked the DoT to withdraw the move of allowing the the companies to undertake self-assessment, calling this process a fraud on the court and they won't tolerate this.
India Mar 16, 2020

RBI Governor Shaktikanta Das Assures People's 'Money in YES Bank Safe', Says 'COVID19 Could Impact India Directly Through Trade Channels'

Reserve Bank of India Governor Shaktikanta Das said the rescue plan for crisis-hit YES Bank is credible and sustainable, adding that the restructuring plan is first of its type. He claimed the growth momentum in India would also be impacted somewhat due to COVID-19 outbreak.
India Mar 16, 2020

YES Bank Announces to Resume All Banking Services From March 18

With the crisis over YES Bank looming and restrictions imposed by Reserve Bank on it, YES Bank on Monday issued a statement that it will resume to full banking services from March 18, 2020, from 6 pm onwards. The YES Bank requested its account holders to visit any of their 1,132 branches from March 19, 2020.
India Mar 12, 2020

RBI Says Ready for COVID-19 Impact on Indian Economy, Eases Norm on US Dollar Transactions to Provide Liquidity to Forex Market

Reserve Bank of India said that they are taking all necessary measures to ensure that the effects of the COVID-19 pandemic on the Indian economy are mitigated. Adding on, the RBI even mentioned that they have decided to undertake 6-month US Dollar sell or buy swaps to provide liquidity to the foreign exchange market.
India Mar 12, 2020

Coronavirus Impact on Indian Economy: GDP to Decline by Atleast 70-80 BPS, COVID-19 Playing Adverse Effect on Stocks, Says JPMorgan

With the coronavirus pandemic impacting the global economy, chief India economist at JPMorgan Sajjid Chinoy that its effect on Indian exports and tourism could be 70-80 basis points (bps) at a minimum. Chinoy claimed that economic damage around the world is going to be much more severe than people believe.
India Mar 10, 2020

Madhya Pradesh Crisis: Jyotiraditya Scindia Resigns From Congress After Meeting PM Narendra Modi, May Join BJP

Soon after meeting Prime Minister Narendra Modi and Union Home Minister Amit Shah in New Delhi, senior Congress leader Jyotiraditya Scindia on Tuesday tendered his resignation to the partry president Sonia Gandhi. Following this, the sepeculations on his joining BJP rose.
India Mar 06, 2020

YES Bank Crisis: FM Nirmala Sitharaman Says 'Centre, RBI Monitoring Private Lender Since 2017'; Asks RBI to Probe Matter

Union Finance Minister Nirmala Sitharaman said that both the Centre and Reserve Bank had been monitoring the YES Bank since 2017 and have noticed governance issues. She had RBI has been asked to probe the matter.
India Mar 06, 2020

Telecom Crisis: FM Nirmala Sitharaman Indicates Relief to Telcos on AGR Dues Soon, Says 'Concerned Department Will Do it'

FM Nirmala Sitharaman that the central government is looking at the options and will take a decision on relief to telecom companies on AGR soon. She also state that the concerned department will do it.
India Mar 05, 2020

YES Bank Crisis: Reserve Bank Caps Withdrawals at Rs 50,000, Appoints Former SBI Chief Financial Officer as Administrator

The Reserve Bank of India has put YES Bank on effected moratorium from March 5 to April 3. In the latest circular, effective from 6 pm onwards, the RBI had imposed a cap on the private lender to pay more than Rs 50,000 to the depositors during the moratorium period.
India Mar 05, 2020

Coronavirus Effect in India: Chinese Imported Sprinklers, Water Guns For Holi Get a Hit, Product Prices to Jump by 15-20% This Festive Season

India imports 90 percent of Holi related water toys from China. However, this year the imports and exports from China have been hit due to global epidemic noval coronavirus, due to which product prices are expected to jump by 15-20% this festive season.
India Mar 04, 2020

PM Narendra Modi Cabinet Gives Nod to Bank Mergers of 10 PSBs Into 4 Entities, New Move to be Effective From April 1, 2020

Prime Minister Narendra Modi-led Union Cabinet approved the mega consolidation in 10 PSBs into four entities, which would be effective from April 1, 2020. This happens to be the second biggest bank mergers of PSBs in less than 6 months.
India Mar 02, 2020

Coronavirus Scare in India: DGCA Announces Universal Screening of All Passengers Arriving in Flights From Italy and Iran

The DGCA announced the expansion of universal screening of all passengers arriving in flights from Italy and Iran amid the global outbreak of noval coronavirus. The development comes after Union Health Ministry issued a travel advisory for China and Iran.
India Mar 02, 2020

Unemployment Rate in India Jumps to 7.78% in February 2020, Rural Region Worst Affected: CMIE

The Centre for Monitoring Indian Economy (CMIE) says India’s unemployment rate rose to 7.78 percent in February 2020, which is highest in last four months. Also it added that rural region is worst affected at the jobless rate is 7.37% in rural region.
India Feb 14, 2020

Income Tax Dept Discloses Details of 2,200 CAs, Doctors, Lawyers & Others Declaring Income Over Rs 1 Crore Days After PM Narendra Modi Speaks About Tax Evaders

With PM Narendra Modi expressed his surprise on the fact that only 2,200 people in the country had declared earnings of Rs 1 crore per annum, IT department shared ITR data for the financial year 2018-19 through a series of tweets. In the tweets, the IT Dept mentioned the number of 2,200 CAs, doctors, lawyers and others declaring income over Rs 1 crore.
India Feb 13, 2020

COVID-19 In India: First Patient Discharged From Alappuzha Hospital In Kerala, 2 Other Coronavirus Patients Undergoing Treatment; Here Are All Updates

Kerala government informed that one of the three coronavirus-infected patient was discharged the Medical College Hospital in Alappuzha. State Health Minister KK Shailaja said that the person was discharged after he was consistently tested negative for more than a week.
India Feb 12, 2020

5G Spectrum Sale: TRAI Refuses to Revise Base Pricing for Airwaves Auction After Bharti Airtel Calls it 'Unaffordable'

The TRAI denied to back down from its suggestions on valuation of spectrum and base price for the upcoming auction. The new update also applies for 5G spectrum airwaves. This development comes a week after telecom company Airtel shared its unwillingness to buy spectrum at recommended prices by TRAI.

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