Gayatri Nayak

  • April manufacturing IIP to contract by 50-60 per cent: Report

    April manufacturing IIP to contract by 50-60 per cent: Report

    "We believe IIP manufacturing and IIP in April will contract by 50% -60% with some improvement in May in the range of -30% to -35%" said the SBI report released on Wednesday. Official release of IIP numbers for April are scheduled to be released in the second week of June.

    MSMEs and exporters get some relief from RBI

    MSMEs and exporters get some relief from RBI

    The maximum permissible period of pre-shipment and post-shipment export credit sanctioned by banks is increased from the existing one year to 15 months, for disbursements made up to July 31, 2020.

    Lockdown period cash demand almost double the levels of last year's election phase

    Lockdown period cash demand almost double the levels of last year's election phase

    Cash infused by the Reserve Bank of India or the currency in circulation amounted to Rs 1.42 lakh crore between April 01 and May 15, the latest release on reserve money indicated. This is almost double the amount of Rs 72,984 crore, which was released in the same period a year ago during which election cash demand was high.

    Outward remittances at all-time high in march

    Outward remittances at all-time high in march

    Indians sent a record $18.75 billion in FY'20 under the liberalised remittance scheme whose scope was widened in 2015 to facilitate investments in overseas markets, send money for maintenance of close relatives abroad and other purposes.

    Indians send record $344 million in March for maintaining family abroad

    Indians send record $344 million in March for maintaining family abroad

    Money transferred overseas for maintenance of relatives abroad under the Reserve Bank of India's liberalised remittances scheme or LRS touched a new high in March at $344 million. It accounted for a quarter of the $1.34 billion sent abroad under the scheme during the month.

    Economy to shrink despite stimulus: Economists

    Economy to shrink despite stimulus: Economists

    While Nomura has forecast recession-three consecutive quarters of recession, Goldman Sachs, Bank of America, UBS and HSBC have been less harsh with economy contraction forecast ranging from 0.1 per cent and 3.5 per cent.

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