Govt. extends emergency credit line guarantee scheme till June
The Hindu
The government on Wednesday extended the ₹3-lakh-crore emergency credit line guarantee scheme by another three months till June 30 and also widened its scope to new sectors, including hospitality, tra
The government on Wednesday extended the ₹3-lakh-crore emergency credit line guarantee scheme by another three months till June 30 and also widened its scope to new sectors, including hospitality, travel and tourism. ECLGS 3.0 would involve extending credit of up to 40% of total credit outstanding across all lending institutions as on February 29, 2020, the finance ministry said in a statement. The tenor of loans granted under ECLGS 3.0 would be 6 years ,including a moratorium period of 2 years.
The company, which started exports with shipments to neighbouring markets like Bangladesh and Nepal in 1986-87, said it currently exports to nearly 100 countries, including markets in Africa, Latin America, Asia, and the Middle East.
Starting April 1, 2023, merchant transactions over ₹2,000 done through PPI wallets on UPI will attract an interchange charge of 1.1%.
The Supreme Court on March 29 allowed a plea by the Centre seeking allocation of ₹5,000 crore out of ₹24,000 crore deposited by the Sahara group with market regulator SEBI to repay its depositors
Benchmark indices were trading in the positive territory in early trade on March 29 amid fresh foreign fund inflows and buying in HDFC twins. The 30-share BSE Sensex advanced 218.68 points to 57,832.40 in initial trade. The broader NSE Nifty climbed 71.5 points to 17,023.20
India’s MSP programmes are under scrutiny at the WTO, as it is the first country to invoke the Bali ‘peace clause’ to justify exceeding its 10% ceiling (of the total value of rice production) for rice support in 2018-2019 and 2019-2020.
Job cuts part of an effort to save $5.5 billion in costs and make money-losing streaming business profitable
Alibaba announced a restructuring on March 28, sharing news that it will split into six units covering e-commerce, media and the cloud. Each of the six will be managed by its own CEO and board of directors.
Many of the Adani group firms hit their lower circuit during the day
Benchmark equity indices Sensex and Nifty ended marginally lower in highly volatile trade on March 28. Adani Entertainment, Adani Ports, Tech Mahindra, HeroMotoCorp and Tata Motors were among major Nifty losers.
Equity benchmark indices climbed in early trade on March 28 tracking a firm trend in Asian markets and buying in index major Reliance Industries, HDFC twins and IT counters.
The rupee gained 15 paise to 82.16 against the U.S. dollar in early trade on March 28 as the weakness of the American currency and a positive trend in domestic equities strengthened investor sentiments.