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A screen displays a broadcast of the Reserve Bank of India (RBI) Governor Shakitanka Das inside the Bombay Stock Exchange (BSE) in Mumbai, India, on Friday, March 27, 2020. The RBI cut interest rates and announced steps to boost liquidity in a stimulus worth 3.2% of gross domestic product to counter the economic impact of the coronavirus outbreak | Dhiraj Singh/Bloomberg

Modi govt is seeking $6 billion of loans to fight coronavirus

The World Bank has already committed $1 billion and Modi govt is in talks with Asian Infrastructure Investment Bank and ADB for more.
Nandan Nilekani speaks at Carnegie India's Global Technology Summit 2019

Small businessmen will soon get loans based on data, not balance sheets: Nandan Nilekani

Nandan Nilekani says under the new system, Account Aggregator, owners will be able to use bank statements, tax returns, home loan repayment records to avail of short-term loans.
File photo of people lining up outside an HDFC Bank ATM| Bloomberg

HDFC Bank sees signs of economy reviving in rural and semi-urban areas

Loan outreach programmes in rural areas have given the sense that consumption in rural & semi-urban areas is turning more positive, HDFC Bank says.
The RBI logo

Indian banks are still not fully passing on interest rate cuts to customers

Spread between RBI’s key policy rate & weighted average lending rate on outstanding loans from banks is highest in data going back to February 2012.

Broke Air India mortgaged land worth Rs 3,775 crore — land that belonged to someone else

The land, two prime plots in New Delhi, was loaned to Air India by the housing ministry. It is now locked with a consortium of 19 banks led by SBI.
Representational image

Pakistan stock market, currency reel after it seals 13th IMF bailout since 1980s

The Pakistan central bank is due to meet Monday to decide on monetary policy, with economists expecting a seventh straight hike in interest rates.
People in a mall

Slackening consumer demand is reining in animal spirits of economy

Uncertainty over outcome of elections has cast a shadow on investments & consumer demand has been hit by relatively tight financial conditions.

Election promises are giving a big push to financing deals for infrastructure projects

Loans for projects came to Rs 520 billion in March quarter, the highest since 2011, compared with Rs 144 billion in previous quarter.
A man stands in front of an electronic ticker board showing stock information figures outside the Bombay Stock Exchange (BSE) in Mumbai

Global analysts are ratcheting up their profit forecasts for Indian equities

Fundamentals of corporate India are improving & projections for next year’s earnings at S&P BSE Sensex Index companies has jumped to a record high.
Allahabad Bank

India to inject Rs 482 billion into state lenders to boost loans

The govt is hoping that a stronger banking system will help bolster loan growth hovering near a five-year high seen in December.

On Camera

What about Dalit priest at Ayodhya Ram Mandir? Even Communist intellectuals won’t demand it

It is being said that the Ram Mandir will be more significant than the Vatican of Rome and the Mecca of Saudi Arabia. But will it change the status of Dalits and Shudras?

These are the things Indians have been spending their money on during the pandemic

Immunity boosters, comfort foods and digital services are some of the items Indian consumers have been buying in the lockdown months.

Defence

Indian Army personnel | Representational image | ANI

This is the 3-stage system Army movies go through in India to prevent an Ekta Kapoor ‘XXX’

MoD wrote to Censor Board last month emphasising that web series based on military subjects also require a no-objection certification, just like movies & TV serials do.
Illustration by Soham Sen | ThePrint

Modi govt’s NEP is out of touch with reality, Indian voters want English-medium education

State leaders with their ear to the ground, like Nitish, Mamata and Yogi, have shown that the push for native language education is not what voters want.