27 July 2020

Macroeconomic News
India hikes exposure to US Government securities in May

The Financial Express · 26 Jul 2020

India’s holdings of American Government securities increased by nearly USD 13 billion to USD 169.9 billion at the end of May, according to latest official data. Read More →
RBI signs $400 million currency swap with Sri Lanka

Indian Express · 26 Jul 2020

The Reserve Bank of India (RBI) has signed an agreement for extending a $400-million currency swap facility to Sri Lanka to boost the foreign reserves and ensure financial stability of the country, which is badly hit by the COVID-19 pandemic. Read More →
Monsoon revival likely in India in next few days due to 3 atmospheric systems: IMD

India Today · 26 Jul 2020

The Indian Meteorological Department, Pune, said that the monsoon activity over Maharashtra, except Konkan region, has been subdued for the past seven days and added that over the next couple of days, monsoon revival is likely to take place over India due to three atmospheric systems. Read More →
Government & Regulatory News
PM Modi reviews implementation of micro-credit scheme for street vendors

Business Standard · 25 Jul 2020

Prime Minister Narendra Modi reviewed the implementation of a special micro-credit facility for street vendors, stressing that it should not be seen from the perspective of extending loans to them but as part of an outreach for their holistic development and economic uplift. Read More →
Government amends certain Indian Accounting Standards amid Covid-19 pandemic

Business Standard · 26 Jul 2020

The Government has amended certain Indian Accounting Standards (Ind-AS), including the standard relating to leases amid the coronavirus pandemic. Read More →
Extreme risk aversion to have adverse outcomes: RBI Governor

The Pioneer · 27 Jul 2020

As the economy reels under the pandemic and post lockdown woes, Reserve Bank of India (RBI) Governor Shaktikanta Das is of the view that extreme risk aversion by financial institutions will have adverse outcomes for all. Read More →
Industry/Sectoral News
Covid hit tourism, MSME, aviation worst: RBI survey

The Times of India · 27 Jul 2020

Tourism and hospitality, construction, aviation, automobiles and MSME sectors are expected to be worst-affected by Covid-19, according to an RBI survey. Read More →
Jewellery industry expects consumer gold demand to struggle on surging prices

The New Indian Express · 25 Jul 2020

The jewellery industry is expecting the consumer demand for gold to falter further amid surging prices of the precious metal and economic slowdown. Read More →
Registration of companies: Pace recovers smartly in June after hitting multi-year low in April

The Financial Express · 27 Jul 2020

Covid-19 has had a predictable adverse impact on registration of new firms. Around 19,000 companies were registered in the June quarter (Q1FY21), down 39% from the year-ago period. Read More →
Company News
NCDEX to launch 'options in goods' contract in 3 farm commodities

Business Standard · 26 Jul 2020

After suspending 'options on futures' contracts, the National Commodity and Derivatives Exchange (NCDEX) has decided to launch 'options on goods' contracts in certain farm commodities. Read More →
Government sure BPCL strategic sale to sail through without further extensions

The Pioneer · 27 Jul 2020

Government is confident that the strategic sale of Bharat Petroleum Corporation Ltd (BPCL) may go through without any further need to extend the bidding deadlines. The deadline for submitting the Expressions of Interest (EoI) for 52.98 per cent stake in the BPCL will end on July 31. Read More →
CII in the News
COVID-19 slows down Maharashtra's industrial belts near Pune and Aurangabad

The New Indian Express · 26 Jul 2020

Mumbai has begun to win the battle against COVID-19, but Maharashtra’s main industrial belt of Pune-Pimpri-Chinchwad-Chakan and Aurangabad, home to automobile majors such as BMW, Mercedes Benz and Volkswagen and top electronic industries, are grappling with the virus.  Read More →
Lockheed Martin to Hold Virtual India Defence Suppliers Conference

Bharatshakti · 26 Jul 2020

The 7th edition of the Annual India Suppliers Conference and Exhibition will be held virtually from 27th July, organised by SIDM, co-hosted by CII and Lockheed Martin. Read More →
Kolkata Port Trust moots tunnel under Hooghly river for truck movement

Outlook India · 26 Jul 2020

The Kolkata Port Trust (KoPT) is weighing the option of constructing a tunnel under the Hooghly river to facilitate container truck movement from one bank to another, a move that will help decongest the city roads, an official said. Read More →
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