Page 1902 - Economy & Policy News

RBI formalises guidelines for regulating payment aggregators, gateways

Payment gateways, says the latest guidelines, will be considered as technology providers or outsourcing partners of banks or non-banks, as the case may be.

Govt needs Rs 3.06 trillion in 20 days to meet direct tax target

The data showed that the government has collected 73.8 per cent of direct tax target as given in RE by March 10 and 88.71 per cent of indirect tax mop-up projection by February 29

Govt halts three crucial policy initiatives as revenues shrink: Report

ndia's income tax revenues contracted 3.5% in the first 11 months of the current fiscal year, which began in April 2019, and income from other taxes grew by a meagre 3.8%

PE/VC investments in February slips to a 24-month low of $1.7 bn: Report

There were five large deals worth $700 million in February 2020 compared to nine deals worth $2.0 billion last year and five deals worth $1.4 billion in January 2020

Airlines, travel agents seek relief as they fly into coronavirus turbulence

Globally, airlines have grounded aircraft and slashed flights as governments have suspended visas and restricted travel to stop the spread of Covid-19

Govt plans relief package for domestic airlines ravaged by Covid-19: Report

At present, the sector is the worst affected due to the outbreak

Coronavirus pandemic may adversely affect output and prices: SBI Ecowrap

However, if both the Centre and states are not willing to cut fuel prices, they must not -- under any circumstances -- raise excise duty

Moody's cuts India's GDP growth to 5.3% for 2020 over Covid-19 outbreak

Moody's said oil price shock adds to growth and fiscal pressures for exposed sovereigns.

Tourists who go to China may consider India a safer option: Prahlad Patel

Patel also said that Prime Minister Narendra Modi was the brand ambassador of India's tourism

Barmer refinery will provide crude oil; import won't be needed: CM Gehlot

He held a detailed review of the refinery project and said that the work of various phases of the project should be completed on time

FM reaches out to CAs to promote Vivad se Vishwas scheme to resolve cases

Addressing CAs at an, Sitharaman said they should work hard to make the scheme successful

Coronavirus pandemic could shave off 0.5% of India's GDP: CARE survey

Majority respondents who believe that the RBI will reduce the repo rate, expect a cut between 25 and 50 bps either before or in April 2020

Coronavirus flight shutdowns have hit cargo capacity, says IATA

"The dramatic travel restrictions and collapse of passenger demand have severely limited cargo capacity," said Geneva-based IATA

Coronavirus outbreak could make airlines bankrupt by May-end: CAPA

Many airlines have probably been driven into technical bankruptcy or substantially breached debt covenants already, Sydney-based consultancy CAPA Centre for Aviation warned in a statement Monday

Don't rush to withdraw deposits from YES Bank: RBI governor Shaktikanta Das

Das said the central bank had enough instruments for use if needed - they would be deployed at a time that would maximise impact

Govt mulls campaign to halt panic buying amid coronavirus outbreak

Sanitisers are a Rs 300-350-crore industry in India, and in the last one month, the demand has jumped 10-fold, claimed industry sources

Telcos' stressed assets: IBA tries to overcome the stumbling blocks

The IBA's request highlights the roadblocks in resolving stress assets in this sector under the IBC

Coronavirus outbreak to take heavy toll on readymade garment exports

Exporters have attributed the drop mainly due to COVID-19, which impacted sentiment in the European market - the largest for Indian exporters

India plans to fill strategic petroleum reserves with cheap Saudi, UAE oil

Leading OPEC producers Saudi Arabia and Abu Dhabi have said they will increase output while cutting prices, giving big consumers the chance to fill up at discounted prices

Covid-19 pandemic can deal MSMEs a serious blow: CRISIL SME Tracker

The World Health Organisation has declared Covid-19 a pandemic, as more than 114 countries have reported cases of the affliction. This has material implications for the global economy