Covid-19: RBI sets up war-room with 90 members

The Reserve Bank is virtually being run from a war-room at a city facility manned by just around 90 critical staff as the nation’s monetary authority works to insulate the financial system from disruptions due to the coronavirus pandemic. Continue Reading

India’s manufacturing sector activity inches up in November

The country’s manufacturing sector activity inched up in November but the upturn remained subdued as growth rates for new orders as well as production were modest, a monthly survey said today. The IHS Markit India Manufacturing PMI rose to 51.2 in November from 50.6 in October, when it had fallen to a two-year low, indicating only a slight improvement in the health of the sector. Continue Reading

Banks call for one-time loan for realtors

Lenders unanimously have called for a one-time restructuring mechanism to save the tens of hundreds of stalled realty projects with an additional funding option to help such projects get completed. The demand came ahead of the government approving setting up of a Rs 25,000-crore bailout fund to finance as many as 1,600 stalled housing projects. Continue Reading