Top headlines: IndiGo employees take pay cut as coronavirus bugs economy

Reliance Group chairman Anil Ambani appeared the Enforcement Directorate in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials said. Here is more on what happened in the business world on Thursday.

Anil Ambani appears before ED

Reliance Group Chairman Anil Ambani on Thursday appeared before the Enforcement Directorate in Mumbai in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials said. Read more

Rescue package for aviation sector

India is planning a rescue package worth as much as $1.6 billion for the aviation sector, which has been battered after the coronavirus outbreak forced countries to close borders and brought air travel to a near-halt, two government sources told Reuters. Read more

 

Ind-Ra revises rating watch on YES Bank

Yes Bank on Thursday said that India Ratings and Research (Ind-Ra) has revised rating watch on the bank's long-term issuer rating of 'IND BB-' to rating watch evolving (RWE) from rating watch negative (RWN).

The RWE indicates the possibility of the ratings being either upgraded, downgraded or affirmed. Read more

 

India ranks second in probes on foreign bribery, enforcement drags globally

Enforcement actions globally slowed down in 2019 against trans-national bribery cases, but India is at the second place after Brazil in terms of the number of investigations concerning alleged bribery of domestic officials by foreign firms, a report said on Thursday. Read more

ECB announces 750 bn euro pandemic emergency purchase scheme

The European Central Bank on Wednesday announced a surprise 750-billion-euro scheme to purchase government and corporate bonds, as it joined other central banks in stepping up efforts to contain the economic damage from the coronavirus. Read more