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ECONOMY
India’s GDP expected to contract 9% in FY21: ADB
New Delhi: The Asian Development Bank (ADB) on Tuesday projected a 9 per cent contraction of the Indian economy in the financial year 2020-21, revising its outlook within three months as the Covid situation continues.
In June, ADB had…
New banking bill gives RBI powers to restructure co-op banks
New Delhi: The new Banking Regulation (Amendment) Bill, 2020, introduced by the government on the first day of the Parliament's Monsoon Session, provides the Reserve Bank of India (RBI) powers to restructure cooperative banks.
The Bill…
NVIDIA acquires chip maker Arm for $40 billion
San Francisco: In one of the biggest tech deals, graphics giant NVIDIA has confirmed it is acquiring SoftBank-owned UK chip maker Arm for $40 billion with an aim to create a premier computing company for the age of artificial intelligence…
GST compensation cess: 13 states decide, 12 opt for 1st option
New Delhi: A total of 13 states have so far decided on their borrowing options to meet their GST compensation shortfall and almost all have decided to go for the first option proposed by the Centre, source said.
Out of the 13, 12 states…
Nepal to resume visa services after a month
Kathmandu: Nepal's Department of Immigration has decided to resume all the visa services starting from Sunday after the services were supended over a month ago after one of its staff members tested positive for Covid-19, a senior official…
ICRA upgrades Yes Bank issued securities credit ratings
Mumbai: Improving financial conditions has led ICRA to upgrade credit ratings on securities issued by the lender Yes Bank.
The development comes months after the private lender's financial position worsened and its board was superseded…
Petrol, diesel get cheaper as crude falls
New Delhi: Petrol and diesel prices in the country have fallen again in the wake of softening in global oil prices as extended run of Covid-19 depressed demands and created in glut in the market.
On Saturday, the pump price of petrol…
RBI issues norms for banks to appoint Chief Compliance Officers
Mumbai: The Reserve Bank of India (RBI) on Friday came out with guidelines for banks to appoint Chief Compliance Officers (CCO).
In a circular, the central bank said that it has come up with the guidelines to bring uniformity in…
Samsung leads home turf with 67% smartphone market share in Q2
Seoul: Samsung further expanded its dominance in the domestic smartphone market in the second quarter of the year with 67 per cent share, thanks to robust sales of the Galaxy A budget line and Galaxy S20 series, a new report showed…
SpiceJet operates maiden repatriation flight from Philippines under VBM
New Delhi: Budget passenger airline SpiceJet on Thursday operated its maiden repatriation flight from Philippines under the 'Vande Bharat Mission'.
The airline repatriated 160 stranded Indian nationals from Cebu to Chennai in its Boeing…
