The Modi govt has attached conditions for its capital infusion into OlCL, NICL and UIICL, focussing on profitability and improving customer service.
Move comes as part of efforts of global companies to diversify their supply chains and reduce dependence on China. India has been trying to woo these firms.
The pandemic is the biggest test of the economic and financial system's resilience and robustness, Das said, adding that RBI has asked banks to conduct Covid stress tests.
Mukesh Ambani's Jio has now sold about 25% of its shares to buyers, including Facebook and US private equity firms KKR & Co., and Silver Lake.
Giving rural migrants an incentive to return to cities is crucial to restoring economic activity to pre-Covid levels. Low-cost housing is a good starting point.
From power consumption to jobs to Google’s mobility trends, the figures show activity has picked up from the record slump registered in April, but the recovery has a long way to go.
SBI chairman Rajnish Kumar said the extension of the loan moratorium may be needed only for certain specific stressed sectors.
Index of Industrial Production figures for May are an improvement over the 58% contraction in April, the first full month of the nationwide Covid-19 lockdown.
A complete, successful implementation of the existing support measures is of paramount importance, said Vitor Gaspar, Director of IMF's Fiscal Affairs Department.
HDFC shares fell as much as 2.2% in Mumbai in early trading Friday. The stock dropped 40% from its January record high to its April low but has since rebounded 27%.