LIVE: China amassing large number of troops since early May, MEA on LAC row

Monsoon set to hit Delhi today. PM Modi will inaugurate employment scheme for 12.5 mn UP residents. Stay tuned with Business Standard for the latest news of today

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Actions taken by Indian side are not in consonance with spirit of several bilateral agreements: Chinese envoy

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LIVE updates: Bridge damaged in Tinsukia's Baghjan following heavy rainfall in Assam

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China amassing large number of troops since early May; India had to make counter deployment: MEA on eastern Ladakh row

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Conduct of Chinese side along LAC is reflective of complete disregard to existing agreements: MEA

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LIVE: 45 deaths and 3,509 new coronavirus cases in Tamil Nadu today; state tally rises to 70,977

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Sebi eases pricing framework for preferential issue of shares

Markets regulator Sebi on Thursday decided to temporarily relax pricing framework for preferential allotment of shares as part of efforts to liberalise norms for raising funds amid the coronavirus pandemic. The watchdog would provide an additional option to the existing pricing methodology for preferential issuances, according to a release issued by Sebi after its board meeting.

 

In the wake of serious challenges faced by the corporate sector due to Covid-19, Sebihas been receiving representations from various stakeholders for temporarily liberalising regulations relating to raising of capital from thesecurities market. In case of frequently traded shares, the price of the equity shares to be allottedpursuant to the preferential issue should not be less than higher of

 

"the average of the weekly high and low of the volume weighted average price of the related equity shares" during the twelve weeks preceding the relevant date.

 

Further, companies can consider "the average of the weekly high and low of the volume weighted averageprices of the related equity shares quoted on a recognised stock exchange during the two weeks preceding the relevant date" for pricing guideline for preferential issue.

6:12 PM

Pakistan's continuation in FATF grey list vindicates India's position that it continues to support terror networks: MEA

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India proud to have contributed by deploying 60 Para Field Hospital in the Korean Peninsula during the war: PM Modi

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I salute all the bravehearts who sacrificed their lives for establishing peace in the Korean peninsula: PM Modi

On this special occasion, I salute all the bravehearts who sacrificed their lives for establishing peace in the Korean peninsula: PM Narendra Modi speaking at the 70th anniversary of the outbreak of the Korean War

5:54 PM

There is already an existing bilateral mechanism between India and Nepal: MEA

5:39 PM

Latest News LIVE: Gold falls Rs 293, silver plunges Rs 598

Gold prices fell by Rs 293 to Rs 49,072 per 10 gram in the national capital on Thursday amid rupee appreciation, according to HDFC Securities. The precious metal had closed at Rs 49,365 per 10 gram in the previous trade.

 

The rupee erased its initial losses and settled 7 paise higher at 75.65 (provisional) against the US dollar on Thursday. Silver also plunged Rs 598 to Rs 48,705 per kg from Rs 49,303 per kg in the previous trade. In the international market, gold was quoting with gains at USD 1,767 per ounce, while silver was trading at USD 17.58 per ounce.

 

"The rising virus cases and worries over economic recovery has led gold prices to the highest levels since 2012," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

5:29 PM

PM Narendra Modi to launch 'Aatma Nirbhar Uttar Pradesh Rojgar Abhiyan' tomorrow at 11 AM

Prime Minister Narendra Modi is set to launch "Atma Nirbhar Uttar Pradesh Rojgar Abhiyan" on June 26 at 11 am through video-conference in presence of the Chief Minister Yogi Adityanath. This Abhiyan is intensely focused towards providing employment, promote local entrepreneurship and create partnership with Industrial associations and other organizations to provide employment opportunities.

 

Centre announced the Atma Nirbhar Bharat Package to stimulate various sectors. In order to generate employment with thrust towards creating infrastructure in backward regions of the country Garib Kalyan Rojgar Abhiyan was launched on June 20, 2020.

 

In Uttar Pradesh, nearly 30 lakh migrant workers have returned. Thirty-one districts of Uttar Pradesh have more than 25,000 returnee migrant workers.

 

These include five aspirational districts. The Government of Uttar Pradesh envisaged a unique initiative "Atma Nirbhar Uttar Pradesh Rojgar Abhiyan" which dovetails programs of Government of India and the State government while creating partnerships with Industry and other organizations. Covid-19 pandemic has had an adverse impact on workforce in general and migrant workers in particular. A large number of migrant workers returned to several states.

 

The challenge of containing COVID-19 was compounded by the need to provide basic amenities and means of livelihood to migrants and rural workers. Villages across all districts of Uttar Pradesh will join this program through the Common Service Centers and Krishi Vigyan Kendras, maintaining the norms of social distancing in the wake of the COVID-19 pandemic.

5:23 PM

India's exports likely to dip 10-12% in 2020-21: FIEO

The country's exports are likely to witness a 10-12 per cent year-on-year decline during the ongoing fiscal, if the current trend persists, due to the contraction in global demand on account of the Covid-19 pandemic, FIEO said on Thursday. Federation of Indian Export Organisations (FIEO) President S K Saraf said although exporters are receiving a lot of enquiries from countries where anti-China sentiments are high, demand in employment intensive sectors like gems and jewellery, apparels, footwear, handicrafts, and carpets is still a challenge.

 

"Initially, looking into the lockdown challenges and projected decline in global trade, we expected 20 per cent decline in our exports. However, two days back, the WTO (World Trade Organisation) trade estimates for the second quarter puts the contraction only at 13 per cent," Saraf told reporters during a video conference briefing.

 

"...We do not expect much improvement in demand. Therefore, we expect around 10 per cent-12 per cent decline in India's exports in the current fiscal," he added.

 

However, in case of a second wave of the pandemic, the contraction in exports may reach 20 per cent, Saraf said. India's exports contracted by a record 60 per cent in April and 36.47 per cent in May.

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NDRF teams undertaking flood rescue operations in Assam

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India should produce end-consumed items that we need on a sustained basis, says Finance Minister Nirmala Sitharaman