On 28 June Monday, Nirmala Sitharaman announced a slew of new economic measures to revive an economy tattered by COVID-19. She presented a 7-point relief measure that included financial assistance for different sectors. 7 relief measures announced by the GOI 1. Loan guarantee scheme of Rs. 1.1 lakh crores for coronavirus-affected sectors Under this announcement …
The Reserve Bank of India regularly conducts Consumer Confidence Survey (CCS) and Inflation Expectations Survey of Households (IESH). On 27 June 2021, it released the July 2021 round of these surveys. What are CCS and IESH? CCS seeks qualitative feedback from respondents on their sentiments on households’ income and spending situation, price level, employment opportunities, …
The Petrol and Diesel prices in India are witnessing record-high levels amidst the economic slowdown caused by the pandemic. All the Indian cities currently are charging above Rs.90 per liter of petrol, wherein some like Bangalore, Bhopal, Hyderabad, Jaipur, and Mumbai have crossed the Rs.100 per liter mark. Diesel prices are also running above Rs.80 …
The reports of Covid-19 resurgence in some Asian countries have worried investors, and as a result, Asian stocks slumped on several exchanges. Several Asian stock markets reported the stress is mounting as virus spread rises. Several countries in Asia have reported rising cases of Covid-19 infection, disrupting the market. In Japan, stocks slumped in the …
Zomato, the food delivery behemoth, filed for approval from the Competition Commission of India to acquire a 9.3% stake in Grofers, the grocery delivery company. The $120 million investment will come from Zomato and its investor Tiger Global, of which Zomato will contribute the lion’s share. Some key highlights Along with a 9.3% stake, Zomato …
The Reserve Bank of India announced on Monday it would carry out the first purchase of government securities worth Rs. 20,000 crores on 8 July. It is a part of its G-Sec Acquisition Programme (G-SAP) to support a post-pandemic market, announced earlier this year. On 4 June, the RBI Governor Shri Shaktikanta Das announced regarding …
An Overview of RIL’s Annual Report Reliance Industries said it had applied for the use of niclosamide as a potential medicine to treat pandemic virus and created a cost-effective diagnostic kit to detect the disease, among other pandemic-fighting measures. RIL stated Jio Platforms has partnered with US chipmaker Qualcomm for local manufacturing of 5G equipment …
Oil prices shot up to two-year peaks on June 1, as Brent crude traded a little over $70 per barrel. The last time prices breached the $70 mark was in March when Brent inched over $71 for a brief while. Oil futures too traded at this level last in 2019, much before the Covid-19 pandemic …
An Overview On Friday, the RBI’s six-member Monetary Policy Committee is expected to keep the policy rate unchanged and retain its accommodative posture. While the policy stance is likely to remain growth-oriented, after the economy contracted by 7.3 percent in FY21, the lowest in four decades, all eyes will be on the RBI for any …
An Overview In the midst of the second wave of pandemic, the leading stock exchange – BSE reached a milestone of seven crore registered users based on Unique Client Code (UCC) on Monday. The BSE said in a statement that the transition from 6 crore to 7 crore users took only 139 days, compared to …
