Business and Economy

Sunday, March 29, 2020NRAI urges landlords to waive rents for restaurants till June

New Delhi, March 29 (IANS) Hit by the coronavirus crisis and the nation-wide lockdown, the National Restaurant Association of India (NRAI) has urged landlords in the food and beverage (F&B) or restaurant industry to waive their rents and the common area maintenance charges till June or till the lockdown lasts.

In an open letter to the landlords in the food and beverage (F&B) business, the indu


Sunday, March 29, 2020Paytm to contribute Rs 500 crore for PM CARES Fund

New Delhi, March 29 (IANS) To support the fight against COVID-19 pandemic, India's leading digital payments and financial services platform Paytm on Sunday said it is aiming to contribute Rs 500 crore to the PM CARES Fund.

Urging users to do their bit in the fight against Covid-19, the company said that for every contribution or any other payment made on Paytm using the wallet, UPI and Paytm B


Sunday, March 29, 2020Wheat procurement after middle of April, no word from FCI

New Delhi, March 29 (IANS) With the country under a 21-day nationwide lockdown till April 14 due to coronavirus crisis, procurement of wheat in the new Rabi season will start only after the middle of next month.

The Food Corporation of India (FCI) has till now not issued any new order on the procurement and storage of wheat this season in the country.

"Wheat is normally purchased by state a


Sunday, March 29, 2020India to be fastest growing G20 economy on Covid-19 impact as global economy shrinks

New Delhi, March 28 (IANS) India will emerge as the fastest growing economy among the G20 countries even as Economist Intelligence Unit (EIU) has slashed Indias GDP growth forecast to 2.1 per cent from 6 per cent in the light of the coronavirus pandemic.

India's growth at just 2.1 per cent may be a huge downgrade but given the projected recession in other regions like the US, Europe and Latin


Saturday, March 28, 2020Cyber security risk increases amid 'work from home' trend

New Delhi, March 28 (IANS) With companies across the globe turning to work from home, via the online medium amid the COVID-19 outbreak, threats to cyber security have increased.

Deepak Bhawnani, CEO at Alea Consulting said: "Companies, large and small, will be impacted due to ramifications of work from home, as this will lead to cyber security risk concerns. Proprietary corporate data is being


Friday, March 27, 2020COVID-19: Domestic flights suspension extended till April 14

New Delhi, March 27 (IANS) Aviation regulator DGCA has extended the suspension of domestic flights by a fortnight till April 14 in view of the ongoing 21-day nationwide lockdown due to the coronavirus crisis.

The Director General of Civil Aviation had earlier stopped operations of passenger flights on all domestic routes from March 25 to March 31.

"All domestic operators engage in scheduled


Friday, March 27, 2020ITC limits operations to production of essential items

New Delhi, March 27 (IANS) FMCG-to-hospitality major ITC on Friday said that its factories are producing only essential items such as flour, buiscuits and sanitisers.

The company, however, said that its manufacturing facilities of essential goods are partially operational with limited workforce in view of the coronavirus crisis and the restrictions announced by the Central and state government


Friday, March 27, 2020Special cargo flights to NE, NFR operates goods trains

Guwahati, March 27 (IANS) Air India would operate special cargo flights to the northeastern region of India to ferry the commodities required to deal with the novel coronavirus treatment and other public emergency, top AAI official said on Friday.

The Northeast Frontier Railway (NFR) has also been operating freight trains in most of the northeastern states, including Assam, Tripura, Arunachal


Friday, March 27, 2020Business leaders need to reimagine the new normal

New Delhi, March 27 (IANS) The COVID-19 hit sectors like commercial aerospace, air and travel, insurance carriers, oil and gas and automotive may not see restart until 2021 and business leaders need to create a multi-pronged strategy to overcome it, a new report said on Friday.

According to the report by McKinsey & Company, industry leaders need to begin with addressing the immediate challenge


Friday, March 27, 2020RBI rate cut fails to boost market, Sensex falls to trade in red

Mumbai, March 27 (IANS) Indian stock markets erased all their initial gains on Friday afternoon, with the BSE Sensex trading over 250 points lower, although the Reserve Bank of India (RBI) announced an emergency rate cut of 75 basis points.

The 30-stock Sensex tumbled after gaining over 1,100 during the initial trade.

The RBI Governor's grave concern over the global economy and a likely slo


Thursday, March 26, 2020TN government warns private banks against recovering dues

Chennai, March 26 (IANS) The Tamil Nadu government on Thursday warned of stringent action against private banks, self-help groups, and finance companies if they go on to collect interest on loans from small borrowers.

The government also permitted small caterers serving the elderly to continue supply of cooked food, provided their vehicles sport the sticker 'Essential Service' and the drivers


Thursday, March 26, 2020Will ask states to use Rs 31,000 cr fund for building workers: Centre

New Delhi, March 26 (IANS) Union Finance Minister Nirmala Sitharaman on Thursday said that the Centre will direct state governments to utilise the construction workers' welfare fund to support these workers against economic disruption due to the 21-day lockdown in the wake of the coronavirus crisis.

Addressing the media here, Sitharaman said that the fund created by a central government's Act


Thursday, March 26, 2020Digital India faces its biggest challenge amid lockdown

New Delhi, March 26 (IANS) When Digital India took birth, little did we know that in an unprecedented situation like a total lockdown, the apps and services that helped us sail through the day with ease will immediately hang up on millions.

From Uber to Ola, Swiggy to Zomato and Bigbasket to Grofers -- and thousands of app-based services in between -- the digital dream has taken a 21-day long


Thursday, March 26, 2020Most Indian businesses pivoting in response to pandemic: Survey

Bengaluru, March 26 (IANS) Overall 64 per cent of Indian businesses are ready or getting ready to meet the new workplace demands in the wake of new coronavirus pandemic and are leveraging collaboration tech tools to ensure uninterrupted work, a new survey by leading job portal Indeed said on Thursday.

While 43 per cent of small and medium businesses (SMBs) said they are well prepared, 39 per c


Thursday, March 26, 2020Grofers user gets delivery slot for April 13, no slots on Bigbasket

New Delhi/Noida, March 26 (IANS) Day 2 of COVID-19 lockdown was no different for people who tried to book online delivery of essential items like groceries, milk and vegetables at Bigbasket, Grofers and other online platforms.

To one user's amusement, he got the next delivery slot on Grofers for Monday, April 13.

"When trying to place a new order, the earliest delivery date is coming out to