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Government Announces Cash-For-LTC, Festival Advance To Boost Consumer Demand
Pres Trust of India | Monday October 12, 2020Finance Minister Nirmala Sitharaman on Monday announced a payment of cash in lieu of LTC and Rs 10,000 festival advance to government employees to stimulate consumer demand during the festival season and boost the economy. -
Nirmala Sitharaman Announces Economic Stimulus To Boost Demand By Rs 73,000 Crore
Reuters | Monday October 12, 2020, New DelhiFinance Minister Nirmala Sitharaman said the government will allow its employees to spend tax-exempt travel allowances on goods and services. -
Sensex, Nifty Lose Steam, End On A Flat Note After Seven-Day Winning Run
Edited by Abhishek Vasudev | Monday October 12, 2020Eight of 11 sector gauges compiled by the National Stock Exchange ended lower led by the Nifty PSU Bank index's 2 per cent decline. -
Government's Gold Bond Scheme Open For Subscription. All You Need To Know
Edited by Sandeep Singh | Monday October 12, 2020The Sovereign Gold Bond scheme opened for subscription under its seventh tranche of the year on Monday. Bonds under the SGB programme - in which the RBI issues bonds linked to the market price of the yellow metal on behalf of government - are available at Rs 5,051 per unit, which is equivalent to the market value of one gram of gold. After the current tranche, the Sovereign Gold Bond scheme will open for subscription five more times till March 2020. Launched in 2015 along with the Gold Monetisation Scheme, the Sovereign Gold Bond scheme provides gold-linked returns and an additional return of 2.5 per cent per annum. The SGB scheme is an effective way to invest in non-physical gold, say wealth planners. -
Government To Give Rs 12,000 Crore Interest-Free 50-Year Loan To States
Edited by Abhishek Vasudev (With inputs from PTI) | Monday October 12, 2020The loan will have to be spent entirely on new or ongoing capital projects, she said adding that states can settle bills of contractors and suppliers but all the amount has to be paid before March 31, 2021. -
Government Announces Rs 10,000 Special Festival Loan For Its Employees
Edited by Abhishek Vasudev | Monday October 12, 2020Special Festival Advance scheme is a one-time advance scheme for central government employees and was revived after it was discontinued after the recommendations of Sixth Pay Commission were accepted, Ms Sithraman said. -
Travel Payout, Festival Advance For Government Employees Till March
Edited by Peter Noronha | Monday October 12, 2020Finance Minister Nirmala Sitharaman on Monday announced two special schemes for government staff in a bid to boost consumer demand: a Leave Travel Concession-related cash voucher and a festival advance. The schemes are likely to lead to additional consumer demand of Rs 36,000 crore by March 31, 2021, which will help those in need on account of the coronavirus pandemic. Employees of central and state governments as well as public sector companies will be able to use these schemes to spend money on festivals of their choice till March 31. -
Nirmala Sitharaman Announces Rs 73,000-Crore Measures To Boost Consumer Demand
Edited by Sandeep Singh (with inputs from agencies) | Monday October 12, 2020The government is currently in the process of gradually lifting restrictions imposed in late-March to curb the spread of the deadly coronavirus, which has sent an already slowing economy marred by low demand into a standstill. -
Vedanta Hits Lower Circuit Due To Failure Of Delisting Plans
Edited by Peter Noronha | Monday October 12, 2020The shares of Vedanta hit the lower circuit in mid-morning trading due to the miner's failure to buy back shares and delist itself, compelling it to return all tendered shares. -
Stock Market Update: Sensex Gains Over 350 Points, Nifty Crosses Touches 12,000 As Financial, IT Stocks Lead Gains
Edited by Sandeep Singh (with inputs from agencies) | Monday October 12, 2020Stock Market Updates: Share markets in other parts of Asia jumped led by Chinese shares, though caution about the fate of US stimulus kept the dollar firm. -
UTI AMC Makes A Tepid Debut, Lists At 12% Discount
Edited by Peter Noronha | Monday October 12, 2020Shares of UTI Asset Management Company: The shares listed at Rs 490.25, a discount of Rs 63.75 or 11.51 per cent on the BSE, compared to issue price of Rs 554. -
Mazagon Dock Shipbuilders Debuts At 49% Premium To Issue Price
Edited by Peter Noronha | Monday October 12, 2020Mazagon Dock IPO: The shares of the country's largest defence company listed opened at Rs 216.25 on the BSE, up Rs 71.25 or 49 per cent compared to issue price of Rs 145 per share. -
"Higher-Than-Expected" Reopening In India Boosts GDP Recovery Hopes
Abhishek Vishnoi, Bloomberg | Monday October 12, 2020A Jefferies Financial Group Inc. model tracking economic recovery this week showed activity in India is already at 93 per cent of pre-Covid levels. -
Market Latest Updates: Sensex Up Over 100 Points, Nifty Below 11,950 As Markets Pare Early Gains
Edited by Sandeep Singh (with inputs from agencies) | Monday October 12, 2020Share Market Latest Updates: Share markets in other parts of Asia jumped led by Chinese shares, though caution about the fate of US stimulus kept the dollar firm and a central bank policy tweak unwound some of the yuan's gains. -
Petrol, Diesel Prices Unchanged On Monday
Edited by Peter Noronha | Monday October 12, 2020In Delhi, the price of petrol was Rs 81.06 per litre and that of diesel was Rs 70.46 per litre, according to notifications from Indian Oil Corporation.
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