Business

RIL's 35.2 million tonnes a year SEZ refinery processed 2.51 million tonnes of crude oil into fuel in March, a drop of 24 per cent year-on-year, according to data released by the Ministry of Petroleum and Natural Gas on Thursday.

In a video statement, Ambani said he is delighted to welcome Facebook as a long-term partner and said the two companies will together accelerate India’s digital transformation to empower, enable and enrich people.

IndusInd Bank was the top laggard in the Sensex pack, sinking over 12 per cent, followed by Bajaj Finance, ICICI Bank, Axis Bank, M&M, Tata Steel, ONGC and Maruti.

Many oil companies took on too much debt during the good times. Some of them won't be able to survive this historic downturn.

A statement said the company is in touch with the affected employees and their families to provide active and continuous support to help them through the rest and recovery.

A substantial part of Chinese investments is routed through the Asian financial centre given its market expertise and deep pool of liquidity.

Analysts said this month's agreement between top producers to slash output by 10 million barrels a day was having little impact on the oil crisis.

The package may also include steps like directions to the state and central power regulators to reduce electricity traiff, the source said.

The bank did not elaborate on who the three were. A media report in the run up to the board meet had mentioned the names of Sashidhar Jagdishan, Kaizad Bharucha and Sunil Garg as the ones who had made the cut.

The extension in validity altogether benefits around 12 crore customers, it will enable customers to continue getting incoming calls even if they are unable to recharge their account till May 3.

The RBI on Friday further eased bad-loan rules, froze dividend payment by lenders and pushed banks to lend more by cutting the reverse repo rate by 25 basis points.

It is estimated that revenue in Wipro's key IT services segment had been reduced by $14-$16 million for the quarter due to the pandemic.

The IMF Board has already approved debt relief for 25 of its poorest members to help battle the coronavirus outbreak.

Rajiv Kumar said he is convinced that with the fiscal policy package now in the making, India will see economic activity recovering quite strongly from the second quarter of 2020-21.

Trade deficit went down to USD 9.76 billion in march this year from USD 11 billion in the same month last year, after India's exports were less by USD 21.41 billion.

The new income tax regime, announced in the Budget, provides an option to individuals to be taxed at lower rates if they do not avail specified exemptions and deductions like house rent allowance, interest on home loan, investments made under Section 80C,...