May 07, 2021 08:25 PM IST

India's forex reserves jump by $3.91 billion to $588.02 billion

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

SBI, EIB to invest up to Euro 100 million in Indian SMEs focused on climate change, sustainability

Neev Fund II will provide equity to SMEs focusing on mitigating climate risks, promoting social development, job creation, and gender equality at scale, SBI chairman Dinesh Khara said.

Self-employed? Virus might force a rethink

LIC relaxes claim settlement document requirements amid COVID-19 crisis

LIC will accept documents like death summary from government, armed forces and also hospitals to make the claims settlement process quicker.

Surging India virus cases may derail recovery but ratings outlook stable: S&P

The rating agency, however, said the second wave should not hit the economy as hard as the first wave did in the April-June quarter of the 2020/21.

RBI's Rs 50,000 crore liquidity facility can augment hospital bed capacity by 20%: Crisil

The window to banks under priority-sector lending to augment COVID-19 healthcare infrastructure will help raise treatment capacity, and availability of medicines and medical equipment, it said.

Coming soon, a National Educational Technology Forum to boost digital education

The NETF will provide independent evidence-based advice to central and state government agencies on technology-based interventions. The education ministry has already held a series of meetings with state education boards between October 2020 and April 2021.

Second Covid wave poses downside risks to economic activity, says finance ministry

The ministry says it expects a 'muted' economic impact when compared to the wave. Learning to 'operate with COVID-19' provides a silver lining of economic resilience, it said in its April report.

India to breach fiscal deficit target in FY22: Fitch Solutions

The government is targeting a deficit between revenue it earns and what it spends at 6.8 per cent of the gross domestic product (GDP) in FY22 (April 2021 to March 2022).

Credit Suisse cuts India's FY22 GDP forecast to 8.5-9%

The Swiss brokerage has also warned that it will delay the economy reaching potential growth rate by an additional two-three years beyond 2022-23.

US weekly jobless claims drop to fresh 13-month low

Initial claims for state unemployment benefits tumbled 92,000 to a seasonally adjusted 498,000 for the week ended May 1, the Labor Department said.

Crisil says half of its rated mid-sized firms eligible for loan recast under new guidelines

Crisil said it rates 6,800 mid-sized entities and more than half of them are small and medium enterprises (SMEs) having a bank loan exposure of up to Rs 25 crore.

Indian monsoon onset expected around June, says government official

"This is an early indication," Madhavan Rajeevan, secretary of the Ministry of Earth Sciences, said in a tweet.

What caused record GST collections in April?

In Pics | Scenes of Scotland, as it weighs its future within Britain

A centuries-old union could face its greatest test if a majority in Scotland, which joined voluntarily with England in 1707, thinks now is the time to think again. c.2021 The New York Times Company

COVID-19 resurgence bringing renewed challenges for India; GDP growth seen at 9.5%: Fitch

The sudden and steep surge in the number of coronavirus cases – the highest-ever 4,12,262 new infections and a record 3,980 daily death toll in a day – has swamped the health system, which seemed to have collapsed.

AICTE asks institutes to share Wi-Fi access to help students in nearby colleges

The technical education regulatory body said in a circular that such students should be allowed to access the wi-fi facility so that their academic progress continues uninterrupted.

Experts see another 3-4% downgrade if the virus is not contained imminently

Ambareesh Baliga said a correction beyond 10 percent will create panic as most people have been playing momentum with overconfidence

India's fiscal response to COVID conservative, need large stimulus: Report

Bold measures will be required to emerge stronger from the crisis, said the report, ''State of Working India 2021: One Year of Covid-19,'' released on Wednesday by Azim Premji University.

RBI's liquidity measures are accommodative yet mindful of normalisation: Lakshmi Iyer of Kotak Mahindra AMC

Despite the current situation, the RBI does not see significant revisions to growth or inflation forecasts for now.

COVID-19 Second Wave | Rs 8 lakh crore package needed to support lower income groups: Azim Premji University Report

The university report has recommended a cash transfer of Rs 5,000 for three months to as many vulnerable households as can be reached with the existing digital infrastructure, including but not limited to Jan Dhan accounts.

Petrol and diesel prices hiked for third consecutive day as polls conclude: Check rates here

People in New Delhi will now shell out Rs 90.99 per litre for petrol and Rs 81.42 per litre on diesel.

Companies are hiring, even amidst COVID-19 second wave: Randstad India executives

Paul Dupuis, MD and CEO, Randstad India and Viswanath PS, CFO, Randstad India are seeing no major impact on an immediate basis in India's hiring market despite COVID-19 situation getting worse.

Supreme Court strikes down Maratha reservation in jobs and education, saying it violates right to equality

The apex court held that the 50 percent ceiling for reservations cannot be exceeded in any state. It was responding to a Devendra Fadnavis-led state government legislation, which offered 16 percent reservation for the Maratha community in 2018; students relieved, but hope for some reprieve from authorities

COVID-19 Second Wave impact: Hiring activity declines 15%, says Naukri JobSpeak

The current impact on the job market is, however, less severe than what was witnessed in April 2020; hospitality and travel worst hit