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Fuel prices may rise by Rs 5/litre after daily revision restarts

New Delhi: Be ready to face up to Rs 4-5 per litre increase in the pump price of petrol and diesel next month with public sector oil marketing companies bracing up to restart daily price revision of the two petroleum products after the lockdown is lifted in June. Official sources in public sector oil marketing companies said that all fuel …

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A business clinic to help Kerala MSMEs in corona times

Kochi: In these pandemic times, when the businesses are gravely affected and the MSMEs are particularly feeling the heat, a Kerala institute has come up with an initiative to help the distressed industry. The Institute of Small Enterprises and Development (ISED) has come out with a unique platform — ‘’business clinic’’ for extending advisory services to the COVID-19 affected MSMEs …

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Uttarakhand launches scheme for returning migrants

Dehradun: Uttarakhand Chief Minister Trivendra Singh Rawat launched a scheme on Thursday under which loans will be given to the migrants returning to the state in the wake of the coronavirus pandemic for self-employment. Loans will be given to the eligible applicants under the Mukhya Mantri Swarojgar Yojana for projects worth Rs 25 lakh in the manufacturing sector and Rs …

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Stringent lockdown further reduced GDP forecast: Fitch

IANS New Delhi India’s stringent lockdown norms have lasted longer than expected, said Fitch Ratings as it further reduced India’s GDP forecast to (-) 5 per cent from an earlier projected growth of 0.8 per cent for the current fiscal. However, for 2021-22 the economic growth forecast has been pegged at 9.5 per cent. The massive cut was revealed in …

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Coal India arm awaits Centre nod for mining project in Assam

PTI Guwahati Coal India arm North Eastern Coalfields (NEC) has said its mining operations in Tikak Open Cast Project (OCP), under Saleki Proposed Reserve Forest in Assam’s Digboi, is currently on hold and awaiting final approval from the Centre. The miner said it is in the process of complying with stipulations and conditions laid down by the National Board for …

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2 out of 3 MSMEs are well-placed in lockdown

IANS New Delhi Two out of three micro, small and medium enterprises (MSMEs) are well-placed to surge through the lockdown while 30 per cent are very strongly positioned, according to TransUnion Cibil and SIDBI market pulse on MSMEs. Structurally stronger MSMEs are likely to be least impacted during the lockdown, the report noted. By simulating elements on past events like …

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RIL expanded in every conceivable technology trend: report

IANS Mumbai Reliance Industries (RIL) has expanded its horizon in every conceivable technology trend and the investments made by the company are bridging the gap between physical and digital footprints through next generation computing platforms, according to an Axis Capital report. “The company has both built and acquired portfolio of platforms in Artificial Intelligence, Natural Language Processing, NB-IoT, Edge Computing, …

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Moderate participation expected in spectrum auctions: ICRA

IANS Mumbai Rating agency Investment Information and Credit Rating Agency (ICRA) expects moderate participation for the upcoming spectrum auctions at Rs 55,000-Rs 60,000 crore due to the limited financial flexibility of the industry. The Telecom Regulatory Authority of India (TRAI) has recommended auctions with one of the largest quanta of spectrum on offer – more than 8,500 MHz, which at reserve …

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India facing its worst recession in current fiscal: CRISIL

New Delhi: India’s fourth recession since independence, the first since liberalisation and perhaps the worst to date, is here, Credit Rating Information Services of India Limited (CRISIL) said on Tuesday as it predicted the economy to shrink by five per cent in the current fiscal because of coronavirus lockdown. “The first quarter (April to June 2020) will suffer a staggering …

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Banks to face tough time reporting bad loans: experts

New Delhi: Banks and other secured lenders may face a tough time in terms of reporting of non-performing assets in their books and may take to loan restructuring over the next one year as new cases under the insolvency and bankruptcy code (IBC) will not be admitted, experts said. The Centre has suspended the admission of fresh applications for insolvency …

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