If fears of COVID-19 persist among overseas investors, then further redemptions cannot be ruled out, Himanshu Srivastava, Associate Director – Manager Research, Morningstar India, stated. NEW DELHI: Foreign investors have pulled out Rs 5,936 crore from the Indian equities in the first week of May amid worries over the intense second wave of coronavirus infection… Continue reading FPIs withdraw Rs 5,936 crore from equities in first week of May
Author: Economic Times of India Online News
Rs 3 lakh crore loan guarantee scheme expanded to help businesses recover from second Covid shock
“Validity of ECLGS extended to 30.09.2021 or till guarantees for an amount of Rs.3 lakh crore are issued. Disbursement under the scheme permitted up to31.12.2021,” an official notification said. Modi government has expanded its loan guarantee programme to help businesses ward off the ravages of the second wave. According to the proposal, the Central government… Continue reading Rs 3 lakh crore loan guarantee scheme expanded to help businesses recover from second Covid shock
Rupee takes northward trajectory this fiscal; volatility likely amid Covid blues: Experts
Registering gains for the third straight day, the rupee rose 15 paise to close at 72.45 against the US dollar on May 28 (Friday). This month has only one more trading day on May 31 (Monday). NEW DELHI: Shrugging off pandemic-induced economic woes, the Indian rupee has witnessed significant appreciation in the first two months… Continue reading Rupee takes northward trajectory this fiscal; volatility likely amid Covid blues: Experts
Banks begin process of restructuring of loans up to Rs 25 crore
Taking cognisance of the prevailing situation, the RBI announced Resolution Framework 2.0 under which individuals and small businesses having exposure up to Rs 25 crore can opt for loan restructuring if they had not availed the earlier scheme. To provide support to small businesses hit by the second coronavirus wave, banks have initiated the process… Continue reading Banks begin process of restructuring of loans up to Rs 25 crore
Karnataka: Commercial vehicles exempted from motor vehicle tax for May
BENGALURU: The Karnataka transport department has decided to waive motor vehicle tax for commercial vehicles in the state for the month of May. Deputy CM and transport minister Laxman Savadi said: “The government imposed a lockdown due to Covid second wave. We have decided to exempt commercial vehicles from paying MV tax during May.” K… Continue reading Karnataka: Commercial vehicles exempted from motor vehicle tax for May
Local lockdowns to dent automobile MoM wholesale numbers
It said that though May 2021 has been impacted by Covid-led lockdown across segments, volumes are expected to recover with the gradual lifting of lockdown restrictions. Mumbai: Automobile wholesale numbers are expected to decline on a MoM basis due to localised lockdowns by states and supply-side issues said Motilal Oswal Financial Services. According to the… Continue reading Local lockdowns to dent automobile MoM wholesale numbers
Hyundai forms relief task force to support customers affected by Cyclone Yaas
To ensure uninterrupted mobility, the automaker said it is extending emergency roadside service to support the customers for hassle-free and peace of mind experience New Delhi: Hyundai Motor India on Saturday said it has formed a relief task force to support its customers affected by Cyclone Yaas in Odisha, West Bengal and Jharkhand. “Our relief… Continue reading Hyundai forms relief task force to support customers affected by Cyclone Yaas
Max 10-sec service time, no vehicle queue beyond 100 metres: New toll plaza guidelines
NEW DELHI: Soon, yellow lines at toll plazas will ensure that the waiting queue of vehicles is not more than 100 metres at any given point of time and if the queue is beyond the stipulated distance, then vehicles at the front can pass without paying the toll. These guidelines have been issued by the… Continue reading Max 10-sec service time, no vehicle queue beyond 100 metres: New toll plaza guidelines
Sundaram Finance, TVS Group companies contribute Rs 8 cr to Tamil Nadu’s COVID-19 relief
Representational Image Non Banking Finance Company Sundaram Finance and TVS Group companies,including Brakes India, Wheels India, Sundaram Home Finance and Royal Sundaram General Insurance have contributed Rs eight crore towards the Tamil Nadu government’s COVID-19 relief efforts. The contribution includes Rs 2.50 crore to the Chief Minister’s Public Relief Fund, Rs 2.50 crore to the… Continue reading Sundaram Finance, TVS Group companies contribute Rs 8 cr to Tamil Nadu’s COVID-19 relief
Nissan plans work stoppages in Mexico in June due to chip shortage
During the first four months of this year, Nissan was Mexico’s second-biggest auto assembler after General Motors, according to data from national statistics agency INEGI. MEXICO: Japanese automaker Nissan will carry out temporary work stoppages at three Mexican plants for several days in June because of production adjustments needed to manage a shortage of semiconductor… Continue reading Nissan plans work stoppages in Mexico in June due to chip shortage