Washington: The International Monetary Fund (IMF) has come up with relief aid for the 25 poorest countries in the world with the announcement to provide financial assistance to counter the Coronavirus pandemic. As per this, these 25 countries have been awarded a moratorium on the repayments of their existing loans by the IMF. At the […]
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Mumbai: – The Reserve Bank of India (RBI) made some important announcements on Friday, given the effects of the Coronavirus pandemic, on the Indian economy. RBI reduced the REPO rate by 0.75% and the reverse REPO rate by 0.90%. This will reduce the EMIs for car and home loans, bringing major relief to the borrowers. […]
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New Delhi: Union Finance Minister, Nirmala Sitharaman, has announced a significant relief for the taxpayers and ordinary bank account holders. Finance Minister Sitharaman made some important announcements for providing relief, by extending the date for filing returns, to the Income Tax and GST payers. The minimum balance condition, for bank accounts, also has been removed […]
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New Delhi: The measures taken by the government for the public sector banks reeling under the pressures of non-productive loans, have been implemented successfully as Union Finance Minister Nirmala Sitharaman claimed that 13 banks had declared profits in the first six months of this year. The Finance Minister gave this information after the meeting with […]
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Islamabad: Pakistan, who failed to provide satisfactory answers to 22 out of the 27 questions posed by the Financial Action Task Force (FATF), has been retained in the ‘Grey List’. Pakistan attempted answering these 22 questions at length. Dissatisfied with the answers, FATF has asked 150 more questions to Pakistan. The FATF officials have issued […]
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Washington/Beijing: US President Donald Trump issued a stern warning to the world bank saying that China has enormous amounts of funds and even if it does not, it will create it; therefore, under any circumstances, the world bank should not fund China. Only a few days ago, the world bank decided to provide billions of […]
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New Delhi: In an effort to provide an impetus to the economy, Union Finance Minister Nirmala Sitharaman made a significant announcement of boosting the stalled housing projects. As per the announcement, 1,600 stalled housing projects will be provided with a package of ₹25,000 crores. Finance Minister Sitharaman said that the government would be distributing the first instalment […]
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New York: The global consulting firm McKenzie issued a warning that nearly 60% of the banks in the world have failed to get returns on their investments, and these banks will not be able to take the hit of the recession. Against the background of the indications of recession received from around the world, this […]
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Moscow: “I don’t have much to say about higher audit institutions, but as for international organisations like the IMF, they must die,” said Herman Gref, chief of the Russian Sberbank demanding the IMF be abolished. Last year, some European countries had hinted at initiating efforts to find an alternative to the IMF. Against this backdrop, […]
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New Delhi: Union Finance Minister Nirmala Sitharaman,announced some important decisions, given the reduced economic growth rate and the stunted growth rates in certain sectors. Special announcements have been made to incentivise the export and housing sector. These include financial assistance of ₹500 billion for the export and ₹100 billion for the housing sector. The Union […]
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