Indian shoemakers on wrong foot

With world in COVID-19 grip, global brands cancel orders Indian shoe majors are in dire straits as many international brands have cancelled a portion of their orders and put on hold the rest for the winter season due to the COVID-19 outbreak. According to rough estimates, India exports about 130 […]

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Yes Bank put under moratorium till April 3

Deposit withdrawal capped at ₹50,000; board superseded by Reserve Bank of India The government has put private sector lender Yes Bank under moratorium till April 3 and capped deposit withdrawal at Rs 50,000 after severe deterioration of the bank’s financial position. The decision was taken by the government after an […]

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Govt permits NRIs to own up to 100% stake in Air India

NRI investments would be treated as domestic investments. The government on Wednesday permitted NRIs to control up to 100% stake in disinvestment-bound Air India. The decision comes at a time when the government has sought preliminary bids for 100% stake sale in the national carrier. “Today’s decision on Air India […]

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Passenger car sales continue downward trend

Consumer sentiment remained subdued; SARS-CoV-2 outbreak constrained component supplies Wholesale sales of passenger vehicles in the country continued on a downward trend in February 2020, with major car makers posting a decline in sales as consumer sentiment remained subdued, in addition to component supply constraints due to global outbreak of […]

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