‘India’s GDP may dip to 1.6% in FY21’

India’s GDP growth is estimated to plunge to 1.6% for fiscal year 2021 due to the impact of the Covid-19 pandemic, down from the earlier projection of 3.3%, Goldman Sachs…

Covid-19: SpiceJet operates 1st cargo-on-seat flight

Days after India allowed passenger aircraft to be utilised for cargo-only flights, SpiceJet operated the first “cargo-on-seat” service by carrying 11 tonnes of vital supplies in passenger cabin and belly…

SBI cuts MCLR by 35 bps across all tenors

The country’s largest lender State Bank of India on Tuesday said it has cut the marginal cost of funds based lending rate (MCLR) by 35 basis points (bps) across all…

Many companies take 90-day no-layoff pledge

A number of global companies – most with large presence in India – have assured employees that there will be no or insignificant layoffs while the Covid-19 outbreak and lockdown…

Fitch slashes India growth forecast to 2%

Fitch Ratings on Friday said it has slashed India’s growth forecast for the current fiscal to a 30-year low of 2 per cent, from 5.1 per cent projected earlier, as…

AI to fly cargo flights to China for medical supplies

Air India will operate regular cargo flights between India and China from Friday (April 3) to transport “critical medical equipment and supplies”. The airline will establish a “cargo air-bridge” with…

RIL contributes Rs 500 crore to PM CARES Fund

Reliance Industries’ chief Mukesh Ambani on Monday committed Rs 500 crore to the Prime Minister’s COVID-19 fund, topping up over the multi-crore initiative of India’s first coronavirus hospital, meals to…

Mother Dairy seeks to use e-grocers’ network

Mother Dairy, one of India’s leading dairy companies, has written to major food e-commerce players, including Bigbasket, Milkbasket and Supr Daily, to operate as a team to maintain a smooth…

E-tail to take $1 billion hit in lockdown

The 21-day lockdown will lead to a loss of at least $1 billion in gross sales as India’s largest online retail platforms like Amazon and Flipkart stop selling non-essentials till…