Gloomy times are here to stay with yet another dismal day at the stock market with the Sensex dropping 242 points weighed down by the rise in COVID0-19 cases. Find out how the government miscalculated demand for liquor rush across the country. Yes Bank in focus again with ED filing chargesheet against former Yes Bank MD & CEO Rana Kapoor and family. Kotak cuts CTC of employees amidst COVID-19 losses. All you need to know about COVID-19 prevention & control apps and their features.
If you missed following up on financial news today, here are the details...
Yes Bank case: ED files charge sheet against Rana Kapoor, family
Nearly two months after he was arrested, the Enforcement Directorate (ED) on Wednesday, 6 May, filed a charge sheet against Yes Bank Founder Rana Kapoor before a special court, official sources said. Kapoor was arrested by the ED on 8 March and charged under the Prevention of Money Laundering Act (PMLA). The agency is probing allegations of paying Rs 600 crore to a company controlled by Kapoor and his family members, from a firm linked to the scam-tainted Dewan Housing Finance Ltd (DHFL).
Sensex drops 242 points, Nifty gives up 9,200-mark amid coronavirus pandemic
Equity benchmark Sensex fell over 242 points on Thursday, dragged by losses in index-heavyweights HDFC twins and Kotak Bank amid rising coronavirus cases in the country.
Only Modi govt & RBI’s efforts can revive India’s auto industry
The coronavirus pandemic has done more for cars than any climate-change denier could have. Even the greenest amongst us is now wary of switching to public transport. Those who had given up personal cars for Uber rides, will think twice now. And, those who were sharing rides to save money will probably pay that bit extra to avoid sitting next to a coughing stranger.
COVID-19: 6 ways to manage your money better
The Government of India has extended the lockdown by another two weeks, till May 17. Certain relaxations have been given based on the category of zone, hinting at a gradual lifting of the lockdown.
With this extension, India has witnessed the strictest of lockdowns of 54 days. The resultant impact on economic activity is going to be immense with agencies pegging the GDP growth at less than 1% for financial year 2020-21.
Govt failed to anticipate demand, didn't open enough shops, says industry body on liquor rush
As soon as liquor shops reopened on Monday, May 4, after 40 days of COVID-19 lockdown restrictions, a huge crowd in serpentine queues were seen outside the stores across the country flouting the norm of social distancing which was enforced to curb the further spread of the virus.
SBI cuts lending rate by 15 basis points across all tenors; introduces new term deposit scheme for senior citizens
State Bank of India (SBI), the state-run largest lender, has announced the reduction in its MCLR by 15 bps across all tenors. What does this mean for you?
Tesla billionaire Elon Musk set for $720m pay day
Musk, who is worth $39.4bn (£31.9bn) according to Forbes, is set for a $720m pay out from his electric car company after hitting a key performance milestone.
World food prices fall sharply in April because of coronavirus - U.N.
World food prices fell for a third consecutive month in April, hit by the economic and logistical impact of the coronavirus pandemic, the United Nations food agency said on Thursday.
Kotak Mahindra Bank cuts CTC of employees earning over Rs 25 Lakh
Kotak Mahindra Bank in an internal e-mail communication has informed its employees that it will be cutting CTC (cost-to-company) of all employees earning over Rs 25 lakh per annum, a Moneycontrol report said.
Smartphone Shipments in India to Decline by 12% in 2020; 5G Phones Capture 2% Share
As smartphone brands face a state of uncertainty as both supply and demand has been diminished in India, the industry will bear the maximum brunt in the second quarter (April-June period), leaving the sector with at least 11-12 per cent overall decline in shipments for the entire 2020, a new report said on Thursday.
Apps for COVID-19 prevention and control in India: features explained
Many healthcare agencies across the globe are working to find a cure, control, and prevent COVID-19 infections. As we live in the age of the internet, there are a lot of apps that help educate people about the deadly coronavirus. Most of these apps are available for both Android and iOS devices and offer services like real-time patient tracking using geolocation and Bluetooth technology.
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