SBI announces emergency credit line in light of COVID-19
“With a view to provide some degree of relief to the borrowers whose operations are impacted by Covid 19, it is decided by the Bank to make available additional credit facilities to the eligible existing borrowers by way of ad-hoc facilities i.e COVID 19 emergency credit line (CECL) to tide over the current crisis situation,” the note read.
Covid-19: Quarantine facilities to have 60,000 beds
With the number of confirmed coronavirus cases in the country increasing to 151, governme...
Unoccupied government houses may be used for quarantine
According to sources, the Group of Ministers (GoM), headed by health minister Harsh V...
Army’s desert quarantine largest in India, may get bigger
India’s largest military quarantine facility at Jaisalmer has been put on standby.
Bankers agree to give a line of credit to CG Power, says chief
While investigations by regulators will continue in parallel, the lenders have been supportive to get the company out of the woods, Guha said.
Air India passengers face harrowing time at Seven Hills quarantine facility
Passengers who had come to Mumbai from Frankfurt on Air India flight AI124 on Monday not only had a harrowing quarantine experience but some of them were even allowed to leave without proper testing, two passengers have alleged.
Armed forces have 4 quarantine facilities on standby: Nodal officer for Covid-19 cases
Currently, there are 58 people at the Indian Air Force's Hindon facility, 44 at the Indian Navy's facility, 484 people at the Army's Jaisalmer facility and 82 people at its Manesar facility, who are in quarantine. "The Jaisalmer facility is on standby to accommodate 100 more people," Brigadier Sharma said.
On lending by banks to NBFCs, HFCs to be part of priority sector in FY21: RBI
The move will help boost credit disbursement in the targeted segment like agriculture, MSME and housing sector. After undertaking a review, it has been decided to extend the priority sector classification for bank loans to NBFCs for on-lending for 2020-21, RBI said in a statement.
NASA suspends work on Moon rocket due to coronavirus
The space agency is shutting down its Michoud Assembly Facility in New Orleans, where the Space Launch System rocket is being built, and the nearby Stennis Space Center, administrator Jim Bridenstine said late Thursday.
US Fed revives commercial paper facility to boost lending
Fed said it would buy commercial paper directly from banks and large corporations.
RBI extends Rs 60,000-crore credit line to Yes Bank
As per Section 17 of RBI Act 1934, the central bank can provide liquidity support to any lender in the form of loans and advances against collateral such as stocks, funds and securities (other than immovable property) in which a trustee is authorised to invest trust money by an Act of Parliament.
7.3 million jobs at stake, restaurant body writes to Finance Minister for financial bailout package
The move is primarily aimed at providing immediate relief to over 7 million people employed in the F&B Sector who stand severely impacted due to the outbreak and spread of COVID-19.
The man who saw India’s banking crisis early warns of new peril
The coronavirus pandemic now roiling global markets adds urgency to Ashish Gupta's warnings.
RBI urges customers to use digital banking facilities amid coronavirus outbreak
NEFT is central bank-controlled interoperable payment channels used for fund transfer by a customer between different accounts. These transactions are done on time batches unlike RTGS which makes this mode of payments non- instantaneous.
Harvey Weinstein transferred to New York state prison a day before 68th birthday
The former Hollywood mogul begins to serve a 23-year sentence for rape and sexual assault in the landmark #MeToo case.
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