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Coronavirus Crisis: India GDP To Shrink Up To 11.8% In 2020-21, Say Rating Agencies
Edited by Sandeep Singh (with inputs from agencies) | Tuesday September 08, 2020Days after official data showed India's GDP or gross domestic product shrank a record 23.9 per cent in the April-June period, economists have pegged overall economic contraction for the full financial year 2020-21 above 10.5 per cent. In its Global Economic Outlook report released on Monday, credit ratings major Fitch said it expects the country's economy to contract 10.5 per cent in the current financial year, sharply lower than its earlier projection of 5 per cent. Separately, India Ratings and Research, which is a fully-owned subsidiary of the US-based Fitch Group, said it expects the economy to shrink 11.8 per cent in the ongoing fiscal year, before bouncing back in the fiscal year beginning April 2021. -
Indian Economy Projected To Shrink 11.8% In 2020-21: Fitch Arm
Reuters | Tuesday September 08, 2020, New DelhiOn Monday, India surpassed Brazil as the nation with the largest number of infections outside the United States, with a tally of 4.28 million. -
Sensex Jumps Over 300 Points Led By Financial, IT, Energy Stocks
Edited by Sandeep Singh (with inputs from agencies) | Tuesday September 08, 2020At 12:53 pm, the Sensex traded 293.99 points - or 0.77 per cent - higher at 38,711.22, while the Nifty was up 74.75 points - or 0.66 per cent - at 11,429.80. -
India Ratings Revises 2020-21 GDP Projection To -11.8%
Press Trust of India | Tuesday September 08, 2020, MumbaiIndia Ratings said it expects the country's GDP to rebound, and expand at 9.9 per cent year-on-year in financial year 2021-22. -
Rupee Declines By 29 Paise To 73.64 Against Dollar
Press Trust of India | Tuesday September 08, 2020, MumbaiForex traders said a strengthening dollar and foreign fund outflows weighed on the rupee. -
Coronavirus Crisis: India's GDP Likely To Contract 10.5% In 2020-21, Says Fitch
Edited by Sandeep Singh (with inputs from agencies) | Tuesday September 08, 2020However, the pace of expansion is expected to moderate soon, Fitch said in its Global Economic Outlook report. -
Indian Economy To Contract 10.5% In 2020-21: Fitch
Press Trust of India | Tuesday September 08, 2020, New DelhiLast month, official data showed that the country's gross domestic product (GDP) shrank 23.9 per cent in the April-June period, in one of the sharpest contractions in the world. -
Sensex Rises Over 250 Points As Markets Recover Early Losses
Edited by Sandeep Singh (with inputs from agencies) | Tuesday September 08, 2020The NSE's India VIX index - which gauges the expectation of volatility in the near term - climbed up as much as 0.86 per cent. -
Route Mobile IPO Set To Open On Wednesday. Here's All You Need To Know
Edited by Peter Noronha | Tuesday September 08, 2020Route Mobile Initial Public Offer: The offer IPO will be open for three trading days, from September 9 to September 11, at a price band of Rs 345-350 per share. -
Rupee Drops To 73.64 Mark On Firm Dollar
Edited by Sandeep Singh (with inputs from agencies) | Tuesday September 08, 2020At Monday's close of 73.34, the rupee has recovered 4.64 per cent from its all-time low of 76.91, recorded in April. -
Market Latest Updates: Sensex, Nifty Edge Lower Amid Choppy Trade; Financial Stocks Drop
Edited by Sandeep Singh (with inputs from agencies) | Tuesday September 08, 2020Share Market Latest Updates: At 9:22 am, the Sensex traded10.08 points lower at 38,407.15, while the Nifty was down 1.55 point at11,353.50. -
Petrol, Diesel Prices Remain Unchanged On Tuesday
Edited by Peter Noronha | Tuesday September 08, 2020In Delhi, the price of petrol was maintained at Rs 82.08 per litre and diesel rates were steady at Rs 73.16 per litre, according to notifications by Indian Oil Corporation. -
Sensex, Nifty Likely To Have A Positive Opening
Edited by Peter Noronha (with inputs from agencies) | Tuesday September 08, 2020The domestic stock markets are likely to open in the green, following encouraging Asian cues and a positive start on SGX Nifty. -
KV Kamath Panel Identifies 26 COVID-19-Affected Sectors For Debt Resolution
Edited by Sandeep Singh (with inputs from agencies) | Monday September 07, 2020The Reserve Bank of India (RBI) said on Monday that it had broadly accepted recommendations made by a committee on loans restructuring for COVID-19-affected businesses. The RBI-appointed panel, under eminent banker KV Kamath, recommended five financial ratios for 26 sectors - including aviation, construction, power, real estate and automobiles - which could be taken into account by banks while finalising their resolution plans for borrowers. The development comes at a time when the central bank has warned that bad loans in the country's banking system can soar to at least 12.5 per cent by March 2021, from 8.5 per cent at the end of March this year, due to the impact of the coronavirus pandemic. -
RBI's KV Kamath Committee Picks 26 Sectors For Loan Restructuring, Lists Criteria
Edited by Abhik Deb (with inputs from agencies) | Monday September 07, 2020The committee will also scrutinise restructuring of loans above Rs 1,500 crore
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