RBI guv urges people not resort to panic buying; says Indian banking system is safe
Mumbai: Allaying depositors’ concerns, RBI Governor Shaktikanta Das on Friday asserted there Indian banking system is safe, and termed linking banks’ share prices to safety of deposits as “fallacious” thinking. The comments, which came after a massive correction in banking stocks following the Yes Bank crisis and coronavirus outbreak, also urged depositors not to resort […]
Slashed interest rate needs quick transmission: FM
New Delhi: Finance Minister Nirmala Sitharaman on Friday asked banks for “quick transmission” of slashed interest rate as the RBI cut the key lending rate sharply by 75 basis points to boost liquidity in financial system to deal with the COVID-19 pandemic. In a tweet, the Finance Minister also welcomed RBI Governor Shaktikanta Das’ statement […]
Xi tells Trump China and US must ‘unite to fight virus’
Beijing: China and the United States should “unite to fight” the deadly coronavirus pandemic that has ravaged the globe, said President Xi Jinping in a call with his US counterpart on Friday, according to state media. The two countries have clashed in recent weeks over the virus, but Xi told President Donald Trump that China […]
Russia to close restaurants, cafes from Saturday
Moscow: The Russian government has ordered all cafes and restaurants to close for a week from Saturday to stem the spread of the coronavirus infection. Russian regions are to “halt the activities of public food service organisations,” except for delivery services, a government decree said on Friday. The decree also ordered regional authorities to halt […]
Lockdown: Govt unveils Rs 1.7 lakh cr stimulus to help poor
New Delhi: The government on Thursday announced a Rs 1.7 lakh crore stimulus that included free foodgrain and cooking gas to poor for three months, and cash doles to women and poor senior citizens as it looked to ease the economic impact of the nationwide lockdown. While over 80 crore poor ration card holders will […]