Business
Gross Loan Portfolio of Microfinance Institutions Rises 31% to Rs 74,371 Crore in FY20: MFIN
The Microfinance Institutions Network (MFIN) is an RBI-recognised self-regulatory organisation and industry association of the microfinance sector.
Kick-starting LIC Disinvestment Process, FinMin Invites Bids from Transaction Advisors for IPO
The advisors can submit their bids beginning Friday, till July 13, 2020. The bids would be opened by DIPAM on July 14.
33% Infosys’ Staff to Permanently Work from Home Globally in Future
If this decision is implemented, 80,000 of the company’s 2,42,371 employees globally will always be working remotely in the future.
Australia Jobless Rate Surges to 19-Year High in May, Slow Recovery Seen
Employment in May plunged a further 227,700 after a record slump of about 600,000 in April, figures from the Australian Bureau of Statistics (ABS) on Thursday showed.
Fuel Prices Hit New High, Petrol Hiked By 55 Paise, Diesel By 60 Paise for 11th Consecutive Day
The price hikes have been criticised by the opposition parties who say the sharp rise in fuel price will increase problems in the lives of people who are already reeling under economic stress due to the coronavirus pandemic.
Centre's Final Stimulus Package Likely in September-October, Says RBI Director Gurumurthy
Speaking at a webinar organised by the Bharat Chamber of Commerce, Gurumurthy said the package of more than Rs 20 lakh crore announced by the central government can be described as an interim measure.
Near-term Disruption lLkely in IT Sector, FY22 Should be Normal Year: Citi Report
COVID-19 has provided IT services companies with an opportunity to test work from home (WFH) concepts, and innovate on services as well as delivery, the report said.
Advance Tax Collection Falls 31% in June Quarter
During the first two months of the June quarter, a nationwide lockdown was in place aimed at controlling the spread of the coronavirus pandemic.
ATF Price Hiked by 16.3%, Petrol up 47 Paise, Diesel by 93 Paise
This is the second straight increase in ATF price this month. Rates were hiked by a record 56.5 per cent (Rs 12,126.75 per kl) on June 1.
Ex-eBay Employees Charged with Cyberstalking US Couple, Delivered Live Bugs, Bloody Pig Mask to Them
U.S. Attorney Andrew Lelling said the defendants engaged in a "determined, systematic effort" to emotionally "terrorise" the couple with anonymous email threats, and deliveries such as live cockroaches, a bloody Halloween pig mask, a funeral wreath, and a...
GST Council Halves Interest on Delayed Filing of GST Returns, Discusses Impact of Covid-19 Lockdown
Small tax-payers will have to pay no interest for late furnishing of GST returns till July 6; after that, the interest rate was reduced to 9% and this will be valid till September 30.
18% GST on Parota, 5% on Rotis: Karnataka Tax Authorities' New Ruling Explains the Difference
ID Fresh Food, which was engaged in preparation and supply of a wide range of ready-to-cook meals and fresh foods, such as idli and dosa batter, parotas, curd and paneer, had approached AAR to seek a ruling on the GST rate applicable to whole-wheat parota...
SBI Board to Consider Raising Up to $1.5 Billion via Bonds
SBI said the capital is proposed to be raised through public and/or private placement of senior unsecured notes in US dollar or any other convertible currency during 2020-21.
Sensex Plunges 709 Points on Global Selloff, Nifty Closes Below 10k
SBI was the top laggard in the Sensex pack, dropping over 5 per cent, followed by Sun Pharma, Maruti, Bajaj Finance, Tata Steel, Axis Bank and ICICI Bank.
S&P Retains India's Rating at Lowest Investment Grade For 13th Year in a Row
The stable outlook also assumes that the government's fiscal deficit will recede markedly following a multi-year high in fiscal year 2021.
Hiring Activities in India Declines by 61% in May Due to Covid-19 Lockdown: Report
The report further revealed that the May decline in hiring is led by industries like hotel, restaurant, travel, airlines (91 percent), retail (87 percent), auto, ancillary (76 percent) and BFSI (70 percent).