APN News

  • Wednesday, April, 2020| Today's Market | Current Time: 11:03:35
  • Merger of 10 state-run banks into 4 to come into force from April 1: RBI

    Reserve Bank of India has said that the merger of 10 state-run banks into four will come into force from April 1. The branches of merging banks will operate as of the banks in which these have been amalgamated. The government on March 4 had notified the amalgamation schemes for 10 state owned banks into four […]

    Loans and EMIs to be cheaper as SBI to cut repo rate by 75 basis points.

    State Bank of India, SBI on Friday said that it has decided to pass on the entire 75 basis points repo rate cut announced by the Reserve Bank of India. The new rates, to be effective from 1st of April, will be applicable for its borrowers availing loans based on External Benchmark-linked lending rate, EBR […]

    IOC Chairman, Sanjeev Singh says country has enough petrol, diesel, cooking gas in stocks to last way beyond 3-week lockdown

    Indian Oil Corporation, IOC, Chairman Sanjiv Singh has said that the country has enough petrol, diesel and cooking gas LPG in stocks to last way beyond the three-week nationwide lockdown as all plants and supply locations are fully operational. Mr Singh said customers should not resort to panic booking of LPG refills. He said that IOC has […]

    Loans and EMIs to be cheaper as SBI to cut repo rate by 75 basis points.

    State Bank of India, SBI on Friday said that it has decided to pass on the entire 75 basis points repo rate cut announced by the Reserve Bank of India. The new rates, to be effective from 1st of April, will be applicable for its borrowers availing loans based on External Benchmark-linked lending rate, EBR […]

    World Entered Recession:IMF

    International Monetary Fund, IMF, has said that the world is in the face of a devastating impact due to the Corona virus pandemic and has clearly entered a recession. However, it projected a recovery next year. Managing Director Kristalina Georgieva said that IMF has reassessed the prospects for growth for 2020 and 2021. It said […]

    RBI permits 3 month moratorium on EMI payments on all outstanding loans

    The Reserve Bank of India (RBI) Governor Shaktikanta Das today announced cut in benchmark interest rate, Repo Rate by 75 basis points to 4.4 per cent to deal with the hardship caused due to the outbreak of COVID-19. The central bank also reduced the Cash Reserve Ratio (CRR) of all banks by 100 basis points […]

    RBI cut repo rate by 75 bps to 4.4 %; reduces CRR by 100 bps

    The Reserve Bank of India (RBI) Governor Shaktikanta Das today announced cut in benchmark interest rate, Repo Rate by 75 basis points to 4.4 per cent to deal with the hardship caused due to the outbreak of COVID-19. The central bank also reduced the Cash Reserve Ratio (CRR) of all banks by 100 basis points […]

    Moody’s slashes India GDP growth in 2020 to 2.5 %

    Moody’s Investors Service today slashed its estimate of India’s GDP growth during 2020 calendar year to 2.5 per cent, from an earlier estimate of 5.3 per cent and said the Corona virus pandemic will cause unprecedented shock to the global economy. In its Global Macro Outlook 2020-21, Moody’s said India is likely to see a […]

    Steps announced by FM Nirmala Sitharaman are critical for vulnerable sections: FICCI

    Industry body group, FICCI has said that the steps announced by the Finance Minister Nirmala Sitharaman are critical and substantial to help the most vulnerable sections of the society through the immediate crisis. FICCI President Dr Sangita Reddy welcomed Prime Minister’s Gareeb Kalyan Scheme saying it will take care of the poor and vulnerable, women […]

    RBI offers Rs 11,722 cr to banks through repo auction

    The Reserve Bank of India has offered Rs 11,772 crore to banks through a 12-day variable rate repo auction. Before the auction, the RBI enhanced the amount of auction to Rs 50,000 crore from Rs 25,000 crore, announced earlier. In the auction, the central bank received Rs 11,772 crore of bids and allocated the entire […]