Top 10 biz headlines: Stranded labour in lockdown, company results and more

The government on Sunday said that workers stranded in relief camps could go to work within the states they were in but didn’t give permission to let them go back to their home states. Meanwhile, investment hubs such as the Cayman Islands, Singapore, Ireland, and Luxembourg may come under greater scrutiny of Sebi. Here are the top 10 business headlines

Covid-19: Stranded labour can work during lockdown, but conditions apply

The home ministry issued a “standard operating system for movement of stranded labour” to allow workers to resume work from April 20 when additional economic activities will begin in areas not designated as “containment zones”. Read more here

RBI may cap reverse repo rate to ensure liquidity translates into credit

The Reserve Bank of India (RBI) is not in favour of banks parking huge amounts of funds at its reverse repo window, and may not hesitate to impose a cap on it to ensure systemic liquidity translates into credit for industry. Read more here

Covid-19 impact: Govt backtracks on non-essential items’ sale by e-tailers

The government on Sunday said e-commerce platforms would be allowed to sell only essential items during the extension, a move that the industry described as a complete U-turn from what was said last week. Read more here

keeps companies’ yearly, quarterly results in limbo

A leading consumer goods company, which usually notifies the date for declaring its yearly and quarterly results within a fortnight of the end of the period, is clueless about when it would be able to do so this time. Members of its team of internal auditors criss-cross the country at this time of the year to take stock of inventories and audit all its production units. But now they are stuck at their respective homes in Mumbai. Read more here

Sebi may scan Cayman, Singapore investment hubs for Chinese links

Investment hubs such as the Cayman Islands, Singapore, Ireland, and Luxembourg may come under greater scrutiny of the Securities and Exchange Board of India (Sebi) because a significant portion of investments coming from China and Hong Kong into India may be routed through these jurisdictions, said people in the know. Read more here

Covid-19 impact: India Inc confidence index lowest since 2008 crisis

Confidence index of India Inc fell to the lowest level in the fourth quarter of 2019-20 due to the situations created by Covid-19, according to a survey done by the Federation of Indian Chambers of Commerce & Industry. The index fell to 42.9 in the quarter, against 59 in the previous quarter. Read more here

Covid-19 impact: IndiGo shuts bookings till May 31 after DGCA order

IndiGo closed all its bookings till May 31, shortly after the Directorate General of Civil Aviation (DGCA) on Sunday prevented all airlines from taking bookings till a final decision on lifting or easing restrictions on resuming air travel is announced. Read more here

India could use 3-5% of GDP stabilising economy: World Bank economists

The World Bank, in its report on South Asia, has cut projections for India’s economic growth to 1.5-2.8 per cent, from earlier 6.1 per cent, for FY21. Read the excerpts from an interview with World Bank economists here

Truck freight rates up, drivers not reporting for duty as industries set to open up from today

The freight rates have started to rise with trucking companies as government prepares to open factories in designated green zones on Monday. The increase in rate is attributed to the loss of business as well as shortage of people, the Times of India reported.

Kishore Biyani gets a breather on restructuring loans, with riders

As several lenders gave a condiitonal nod to restructur loans worth $600 million of promoter debt, Future group founder Kishore Biyani may get a breather, Livemint report said.

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