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India’s Auto Makers See Steep Fall In Sales

From Slowdown To Lockdown: India

Mahindra, maker of popular sport-utility vehicles such as Scorpio, posted an 88 per cent slide in sales. BENGALURU: Automakers in the country saw a steep fall in sales in March as a slowdown in demand was exacerbated by shutdowns in production due to the coronavirus pandemic. The government last week …

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Many Airlines At Brink Of Bankruptcy, Need Government Support: Industry Body

Aviation Industry Stares At Loss Of Up To $3.6 Billion In Q1 Due To Travel Ban

New Delhi: As cash reserves of aviation sector companies are “running down quickly” as planes are grounded amid the coronavirus pandemic, industry body FICCI on Wednesday recommended several measures to Finance Minister Nirmala Sitharaman and Civil Aviation Minister Hardeep Singh Puri to help aviation firms. FICCI stated in its letter …

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Gold Futures Rise To Touch Rs 43,550/10 Grams Mark Amid Coronavirus Fears

Gold Futures Recover Most Of Day

According to industry body IBJA, the gold jewellery rate stood at Rs 43,123 excluding GST Gold Rate On April 1: Gold prices rose on Wednesday tracking international rates as India entered the eighth day of a 21-day lockdown to fight the spread of the coronavirus pandemic. MCX gold futures rose …

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Gold Price Rises Over 1% On Flight To Safety Driven By Coronavirus fears

Gold Rate Jumps To Record High Amid Weakness In Rupee

Gold is considered an attractive investment during times of political or economic uncertainty Gold rose more than 1 per cent on Wednesday as fears over a worsening coronavirus pandemic triggered a flight to safety, with expectations of further monetary easing by central banks adding support. Spot gold was up 1.4 …

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Government Begins Fiscal Year Under Severe Strain Amid Biggest Lockdown

World Economy Powering Down Daily Makes Recession More Likely

India kicks off its fiscal year with revenues under severe strain. A prolonged slowdown in the economy depressed tax collections in the financial year that ended Tuesday, latest official data show. As India now conducts the world’s biggest lockdown, budget pressures are set to worsen. Finance Minister Nirmala Sitharaman has …

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Loan Moratorium EMI Delay By 3 Months Unlikely To Give Benefit As Banks To Charge Interests Later

Borrowers Unlikely To Get Loan Moratorium Benefit As Banks Will Charge Interest Later

The banks will levy interest on the outstanding amount of loan The three-month suspension of EMI payments may not result in a significant gains for borrowers as they will charge interest for the moratorium period, according to the moratorium scheme announced by state-owned banks. Last Friday, the RBI had announced …

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Merger Of PSU Banks April 1 4 State-Run Banks In Place Of 10 From Today As Mega Merger Takes Effect

4 State-Run Banks In Place Of 10 From Today As Mega Merger Takes Effect

The government’s mega merger plan to strengthen the financial system came into effect on Wednesday, combining 10 state-run banks into four. Announced in August last year, the merger combines Punjab National Bank, Oriental Bank of Commerce and United Bank into one lender managing business worth Rs 17.95 lakh crore. Similarly, …

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Coronavirus Lockdown May Hurt Government’s Plan to Sell Record Bonds

Coronavirus Lockdown May Hurt Government

The government on Tuesday said it will sell Rs 4.88 lakh crore of bonds in the six months to September With India in the throes of an unprecedented lockdown, Prime Minister Narendra Modi’s record borrowing program may face a rough start. The government on Tuesday said it will sell Rs …

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Indian Banks Association Answers All Questions About Loan Moratorium

Indian Banks Association Answers All Questions About Loan Moratorium

Reserve Bank of India announced certain regulatory measures to mitigate the burden of debt servicing Last week, the Reserve Bank of India announced a three-month moratorium on all term loans outstanding as on March 1, 2020, as well as on working capital facilities, as part of its measures to strengthen …

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