Steel, the most commonly used input in construction sector and industries, is at all-time highs, as most metals including base and precious metals prices have gone through the roof over the last one year.
With this, total wilful defaults amounted to Rs 2,44,602 crore from 12,917 accounts as of December 2020, as against Rs 2,05,606 crore from 12,255 accounts in December 2019, according to data available from credit information bureau TransUnion CIBIL.
The regulator has been flooded with complaints about insurers refusing to offer or renew Covid policies fearing spurt in claims.
Net outflows from DIIs was at Rs 23,124 crore during the quarter. In rupee value terms, DII holding rose to an all-time high of Rs 25.75 lakh crore by this March, an increase of 3.27 per cent over the last quarter.
If the second wave peaks in May-end, the GDP expansion will come at 9.8 per cent, and can go down to 8.2 per cent if peaking happens in June-end, it said.
Exports during May 1-7 last year stood at $3.91 billion and $6.48 billion in the same week of May 2019, data showed.
Foreign investors pulled out Rs 5,936 crore from domestic equities in the first week of May amid worries over the intense second wave of Covid infection and its fallout on the economy.
If GST exemption is granted for domestic supplies and commercial imports of Covid-related drugs, vaccines and oxygen concentrators, manufacturers would not be able to offset the taxes paid on inputs and pass it on to consumers in terms of higher prices, she said.
The DoT believes that all the three private telcos are likely to wait for the allocation of mid-band spectrum to roll out commercial 5G services.
Investment by mutual funds (MFs) in equities will continue in coming months seeing the increase in user growths as multiple fintech players are entering into this space, Kaushlendra Singh Sengar, founder and CEO at INVEST19, said.
The Facebook-owned platform said that even those users who had not accepted the updated terms of services will not have their account deleted for now.
Union Petroleum Minister Dharmendra Pradhan said the move “would help attract tourists to the state”, adding that oil PSUs would also contribute to the development of Kedarnath, Uttarkashi, Yamunotri and Gangotri.
In a circular, the CBIC said importers and exporters will have to furnish an undertaking to the Customs authorities in lieu of the bonds till June 30.
The Kolkata-based bank had posted Rs 517.28 crore net profit in the fourth quarter of FY20. The lender’s total provision and contingencies in Q4FY21 rose 92.7 per cent y-o-y to Rs 1,594.30 crore from Rs 827.36 crore in the same quarter previous fiscal.
The Banks Board Bureau (BBB) — the head-hunting agency for chairmen, CEOs and MDs of public sector banks and insurance companies — has chosen Mini Ipe and BC Patnaik as Managing Directors of Life Insurance Corporation (LIC), which will have two vacancies of MD in the next five months.
DRDO, in a statement on Saturday, said the 2-deoxy-D-glucose (2-DG) drug can provide early relief from oxygen dependency among the patients, which can be helpful as the second Covid-19 wave rages on across the country, and more patients continue to need medical oxygen.
With the latest gain, the forex kitty posted its fourth successive week of gains — starting with a rise of $4.344 billion to reach $581.213 billion during the week ended April 9.
According to the data released by the Reserve Bank of India, the currency with public rose by Rs 15,919 crore in the fortnight ended April 23 to cross the Rs 28 lakh crore mark for the first time.
The Irdai said a health regulator would have helped in terms of adherence to treatment protocols, reasonability of charges and service quality at hospitals.
Prabhu recommended that the travel and tourism (including health tourism), education and aviation sectors be exempted from the Rs 5-crore ceiling as they have been the worst hit by Covid.
The government has allowed hospitals, dispensaries and Covid care centres to accept cash payments in excess of Rs 2 lakh from patients or kin till May 31.
The "need of the hour is, therefore, to expand vaccination at a fast pace", the Finance Ministry noted in its Monthly Economic Review for April released Friday.
At last count, nearly one in every five air traffic controllers at Delhi’s Indira Gandhi International Airport was out of action, either directly or indirectly affected by Covid-19, The Indian Express had reported on May 3.
In the initial phase, these trials will be for 6 months, including a 2-month period for procurement and setting up of the equipment.