Top headlines: FPIs rush to exit India; PSBs sanctioned Rs 6.45 trn loan

From PSBs sanctioning loans worth Rs 6.45 trn in two months of lockdown to govt's recent reforms, here are the top headlines of the day

FPIs rush to exit India, withdraw $6.4 billion amid Covid-19 uncertainty

Foreign investors turned net sellers in March quarter and pulled out $6.4 billion from the Indian equity markets largely due to the COVID-19 outbreak and ensuing risk-averse environment, a Morningstar report said. In comparison, foreign portfolio investors (FPIs) bought net assets worth $6.3 billion in three months ended December 2019. FPIs were net buyers in January ($1.71 billion) and February ($265 million). They, however, went on a selling spree in March as they sold net assets worth $8.4 billion. Read More

Economic package won't fully offset negative