Govt sets 50 lakh users threshold to define ‘significant social media intermediary’ under IT rules

The government has fixed fifty lakh registered users as the threshold for defining ‘significant social media intermediary’, which will have to adhere to additional obligations and compliance under the new IT rules that seek to crack down on misuse of social media platforms. …

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New curbs on movement of people is a risk to nascent recovery: SBI report

New curbs on the movement of people or restrictions on businesses are a risk to the nascent recovery, given that gains in the third quarter (Q3/Octobe …

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FM Nirmala Sitharaman attends G20 Central Bank Governors’ Meet

Union Finance and Corporate Affairs Minister Nirmala Sitharaman has participated virtually in the First G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the Italian Presidency to discuss policy actions for transformative and equitable recovery….

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US owes India USD 216 billion as American debt soars to USD 29 trillion: lawmaker

America’s national debt was USD5.6 trillion in 2000. During the Obama administration, it actually doubled. In 2020, the US national debt was USD 23.4 trillion, that was USD 72,309 in debt per person….

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Four of top 5 US banks hire 25% of MBA students from IFMR business school

Despite the pandemic, average salaries are up by about 10 per cent in hiring by finance, consulting and technology giants …

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Non-food credit grows 5.7% in January, shows RBI data

Non-food bank credit grew at 5.7 per cent in January 2021 as against an increase of 8.5 per cent in January 2020, RBI data showed …

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Fiscal deficit hits Rs 12.34 trillion at end of January, shows data

The fiscal deficit at the end of January in the previous financial year was 128.5 per cent of the Revised Estimates (RE) …

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Non-food credit grows 5.7% in January: RBI data

Loans to industry contracted by 1.3 per cent in the reporting month as compared to 2.5 per cent growth last year in the same period mainly due to contraction in credit to large industries, the data showed….

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Non-food bank credit grows 6% in January 2021; gold loans rise 132%

The pace of retail credit, a segment which has the maximum focus of banks, decelerated to 9.1 per cent in January 2021 from 16.9 per cent in January 2020 …

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Govt extends ban on international flights till the end of March

In a circular, the Directorate General of Civil Aviation (DGCA) said international all-cargo operations and flights specifically approved by the DGCA are exempted from the ban …

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Internationalisation of the rupee is ‘inevitable’, says RBI report

Internationalisation means the currency can be freely transacted by both resident and non-residents, and be used as a reserve currency for global trades …

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Domestic air traffic may be back to full pre-Covid level by summer: Puri

The domestic air traffic is expected to be back to the full pre-COVID-19 level by the summer schedule with the traffic seeing a sharp recovery from the July quarter onwards, Puri said on Friday. …

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Gadkari urges MSMEs to avail concessional finance and install rooftop solar

Union minister Nitin Gadkari on Friday invited MSMEs to avail concessional debt finance to install rooftop solar for business efficiency. The Minister for Micro, Small and Medium Enterprises (MSMEs) and Road Transport & Highways said rooftop solar offers an excellent value proposition to MSMEs by significantly bringing down cost of electricity consumption, which on an average, is up to one-fifth of their operations cost. Addressing a programme virtually, Gadkari said, “I believe there is a strong business case for MSMEs to install rooftop solar and achieve significant savings to achieve the cost-competitiveness. I am confident that MSMEs will stand together in generating and consuming solar power using their rooftops.” The minister observed that a large amount (average Rs 8 and higher per unit) is being paid by the MSMEs for power consumption, which contributes to up to one-fifth of the overall production costs. “To assist MSMEs in implementing rooftop solar projects, the ministry …

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Forex reserves increase by $169 mn to $583.865 bn, RBI data shows

The country’s foreign exchange reserves increased by USD 169 million to USD 583.865 billion in the week ended February 19, RBI data showed …

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Government extends deadline for filing declarations under VsV scheme till Mar 31, payment till Apr 30

As many as 1,25,144 cases have so far opted for the Vivad se Vishwas (VsV) Scheme, which is 24.5 per cent of the 5,10,491 cases that were pending at different legal fora….

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TN CM waives farmers’ jewel loans, SHG loans from state co-operatives

The Tamil Nadu Chief Minister Edappadi K Palaniswami, on Friday, announced waiver of jewel loans up to six sovereigns availed by farmers and the poor …

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Four companies express interest toset up aircraft leasing units in GIFT City

At least two global aircraft financing and leasing companies, and two domestic aviation companies will soon set up office at the International Financi …

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Not all Rly zones have increased ordinary, unreserved train fares yet

Increase in passenger fare for short-distance, unreserved trains has been implemented in a few railway zones that include Northern Railway, North Cen …

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Retail inflation for industrial worker eases to 3.15% in January

Retail inflation for industrial workers eased to 3.15 per cent in January against 7.49 per cent in the same month last year, mainly due to lower prices of certain food items …

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