Business

She commended the work done by the public sector banks for the implementation of the Rs 1.70 lakh crore PM Garib Kalyan Yojana, which was an announcement made within two days after the lockdown was announced.

It had touched a life-time high of USD 487.23 billion in the week to March 6, after it rose by USD 5.69 billion.

The scheme is available from May 20 to September 30, 2020. Senior citizens will get 80 basis points (bps) extra than what is applicable to non-senior citizens for the same deposit amount and tenure.

Prime Minister Narendra Modi on May 12 announced a stimulus package of Rs 20 lakh crore, or nearly 10 per cent of GDP, to deal with the economic fallout of Covid-19. The contents of the package were broad-based and announced in five tranches.

The deals underscore the strength of a digital business built over the past four years in an effort to diversify Reliance away from petrochemicals and refining.

Here are the biggest decisions for Covid-19 economic relief that the Centre took during the last week:

Data out on Friday showed US retail sales and industrial production both plunged in April, putting the economy on track for its deepest contraction since the Great Depression.

Covid-19 crisis provides an opportunity to revive, re-invent and move more banking products and services to the digital platforms, he said.

Sitharaman said Rs 2 lakh crore concessional credit will also be extended to help 2.5 crore farmers through Kisan credit cards.

Prices have risen in the past two weeks as some countries relaxed coronavirus restrictions and lockdowns, giving hope for a pickup in fuel demand.

Private equity (PE) and venture capital (VC) investment in the country rose to its 10-year peak primarily due to the increasing number of large deals greater than $100 million as well as an increase in their average deal size, the firm's India Private Equ...

Reliance Industries was the top gainer in the Sensex pack, soaring over 3 per cent, followed by UltraTech Cement, Maruti, Bajaj Auto, IndusInd Bank and ITC.

The meeting, to be held via video-conferencing, will also take stock of interest rate transmission to borrowers by banks and progress on moratorium on loan repayments, sources said.

Sidharth Nath Singh informed the participants, through video conferencing, about the developmental projects being undertaken in the state; including the Jewar Airport, said to be key to improving the state's airways connectivity.

In the year-ago fortnight, bank loans had stood at Rs 96.20 lakh crore and deposits at Rs 124.83 lakh crore.

After swinging over 800 points during the day, the 30-share index closed 232.24 points or 0.74 per cent higher at 31,685.75.