Business

The RBI's decision comes days after Franklin Templeton Mutual Fund decided to close six debt schemes with assets under management of more than Rs 25,000 crore.

Following this, HDFC acquired 25.27 crore shares of Rs 10 each, it said, adding that the total value of these shares are Rs 252 crore.

This is the first instance when a fund house is shutting its schemes because of coronavirus-related pandemic. The decision has led to concerns about the fate of investments and industry body AMFI rushed in on Friday to assuage the same.

The official also said that inventory level has crossed 2 million tonnes and another about 1 million tonnes is in process. The inventory will increase as production continues while sales are weak.

Many opposition leaders, including former Congress President Rahul Gandhi have been demanding that PPE be exempted from GST.

The rupee opened weak at 76.86 at the interbank forex market and then fell further to 76.88, down 5 paise over its last close.

The pandemic has killed nearly 170,000 people, routed financial markets and could trigger the worst economic meltdown since the 1930s Great Depression.

India's new norms for foreign direct investment from specific countries violate the WTO's principle of non-discrimination and are against the general trend of free trade, a Chinese embassy spokesperson said on Monday.

RBI brought down the LCR (Liquidity Coverage Ratio) requirement for all scheduled commercial banks to 80 per cent from 100 per cent currently

The upcoming stimulus will likely focus on the concerns of MSME segments and provide relief to the travel and aviation sectors that have been hit hard by the economic shock caused by coronavirus.

The Finance Ministry had last week said it will fast track issuance of pending income tax refunds up to Rs 5 lakh, which will benefit around 14 lakh taxpayers, to provide relief to individuals and businesses hit by COVID-19 outbreak.

Forex traders said higher opening in domestic equities supported the local unit, while concerns over coronavirus pandemic weighed on the local unit.

During the last holiday-shortened week, the Sensex rallied 3,568.67 points or 12.93 per cent.

The postal department said there is complete lockdown across the country in view of the threat posed by the outbreak of Corona Virus (COVID-19) and central/state governments have issued several advisories and imposed restrictions on the movement of genera...

Energy companies are suffering through a plunge in oil prices caused by the coronavirus pandemic and a supply glut, with crude prices down more than 60% this year.

Donald Trump said last week a deal he had brokered with OPEC leader Saudi Arabia and Russia could lead to cuts of as much as 10-15 million barrels per day or 10-15% of global supplies, an unprecedented reduction.