The tax hike will generate an additional revenue of Rs 100 crore for the UT administration in 2020-21. After the revision in prices, petrol in the city now costs Rs 68.62 a litre, a hike of Rs 2.8, and diesel Rs 62.02 per litre, an increase of Rs 2.72.

Centre and states are resorting to fuel tax hikes to capture gains from a global oil crash.

The ministers also reviewed ongoing projects and plans including the participation of Indian companies such as Indian Oil Corporation in Russias state-owned Rosneft’s Vostok oil project in the Russian Arctic, Novatek’s deal to supply of LNG to H-Energy, cooperation between Gail and Gazprom.

Before lockdown, the VAT rate on petrol was 30 per cent and on diesel was 22 per cent.

"We have to have a reasonable price. India is a major consumer. But at this juncture, India's viewpoint is the price should be reasonable and responsible. Very low prices are not the answer. Reasonable prices are the answer," he said.

State fuel retailers in India sold 50% less refined fuel in the first two weeks of April than the same time a year earlier as the country came to a standstill due to the lockdown that was put in place on March 24.

The Gautam Adani-led utility firm that sells piped natural gas (PNG) to households and compressed natural gas (CNG) for vehicles hopes to make up for the lost time on new projects once the lockdown is over and is sticking to its capital expenditure plan of Rs 1,500 crore for the current fiscal, its CEO Suresh Manglani has said.

Auditors and company executives told that higher provisioning may be necessary as the pandemic-induced sharp dip would have increased difficulties for these businesses already hit by the ongoing slowdown. In many cases, auditors have asked companies to provide up to 50%.

Reliance, Paytm & BSE are among those interested in securing licences to run an entity with powers like NPCI.

In addition to the Rs 1,600 crore liquidity position, the company said it has undrawn sanctions of Rs 900 crore as on March 31, 2020. The Gurugram-headquartered micro lender also said that it will offer moratorium to all the existing borrowers across India.

For India Inc, disaster planning for business continuity and survival has emerged as the top priority.

Top fintech companies are, therefore, rushing to tap into this new consumer trend, with several of them offering digital solutions to small merchants. These range from instant loans to digital billing to even geotagging, as companies believe the merchant digitisation business will boom when the lockdown eases.

Indians may borrow more against their stash of gold as the world’s biggest lockdown raises financial stress .

As per convention, the government releases GST revenue collection number on the basis of cash collection in a particular month. However, with the situation arising out of COVID-19, the government has decided to wait till the extended deadline for filing returns before release of the collection figure.

Microfinance institutions and non-bank lenders are set to resume full-fledged operations in green and orange zones, or areas designated as safe from the Covid-19 virus outbreak, after the government announced lifting of several restrictions.

Para banks have requested that this window be established through MUDRA, Small Industries Development Bank of India, National Bank for Agriculture and Rural Development and National Housing Bank. They are also requesting a special purpose vehicle that would be allowed to leverage about 4 times to provide a funding of ₹50,000 crore to small and medium-sized NBFCs.

Gold loans for business purposes are mostly used by small businesses as short-term working capital for stocking. With gold prices hovering around Rs 47,000 per 10 gm, small businesses will need to take loans to resume operations, said industry executives.

The lenders have also agreed to extend the three-month moratorium provided by the RBI on term loans to borrowers, the statement said, adding, collections will be made only from customers who have opted out of it.

​ NBFCs have also demanded for extension of the Reserve Bank of India's moratorium to them, relaxation on provisioning norms and additional funding from Small industrial Development Bank of India (SIDBI) and National Bank for Agriculture and Rural Development (NABARD) through refinance mechanism.

The company has already has the IT setup and provisions for employees to be allowed to work form home in future as well, said PK Singh, director (commercial) in-charge of HR. Edited excerpts of an interview with ET’s Rica Bhattacharyya.

The bank which was under RBI's administration since 2014, failed to come up with a satisfactory revival plan, after which the banking regulator cancelled its license. Majority of the bank's depositors now get 100 per cent of their money back. The government hiked the minimum deposit insurance cover from Rs 1 lakh to Rs 5 lakh in its budget announcement in February.

A day after suggesting that Indian economy is "poised to recover" as indicated by high levels of loan sanctions by banks over last two months, Finance Minister Nirmala Sitharaman on Saturday pointed out that banks are leaving no stone unturned to ensure that the current coronavirus situation does not result in liquidity crisis for businesses.

Deb demonstrated how the traditional towel - known locally as gamchha - can be used

Previously, Banerjee had conducted surprise visits to marketplaces to enforce the lockdown, catching unprepared violators off guard

MPs say there is pressure from their constituents to distribute personal protective equipment in hospitals in their constituencies

The child was born on Monday, almost a week into the lockdown in the country

An irked Gambhir has been complaining that Dhoni unfairly hogged the limelight, sidelining the contribution of others

She gifted him a small bottle of hand sanitiser

Now the department is ferrying local DJs from colony to colony who play the song and follow it up with a short message

While Prime Minister Narendra Modi addressed party workers through video-conference, others like BJP chief J P Nadda unfurled the party flag at their residence

By blending one of Bengal's most savoured sweetmeat with the name of the pandemic, the owners aim to lift 'the spirits of the people'

The government in the state has been following the lockdown rules strictly after a sharp increase in the number of Covid-19 cases

Bombay High Court refused to grant bail to the accused, saying it could not put him at the risk of contracting coronavirus

Earlier this week, Pakistan stayed away from the regional trade officials' video conference on Covid-19 because as per the neighboiring country, it should have been managed by Saarc secretariat

So now those who flout the lockdown have started avoiding main roads and places where people gather and play games

Traders in Raipur's biggest commercial centre wrote that an extended lockdown could trigger blood pressure and diabetes, apart from neurological complication

The Bharatiya Janata Party government has started curtailing the facilities accorded to him

He claims that the UP model had been acknowledged by the Centre and other states for its high success rate

The first meeting of the task force was convened via a video conference

Through the ordinance, he truncated the term of the SEC from the existing five years to three years

The Department of Personnel and Training issued a notice that announced postponing the start of a post-graduate degree course for senior bureaucrats at IIM Bangalore

The Congress has constituted an 11-member consultative group which would meet at least once in two days to suggest further policy changes

He even claimed that the state had adopted a discriminatory attitude in resolving the crisis of UP-origin labourers stuck in other states

Shailendra Sengar, Bharatiya Janata Party Kisan Morcha national vice-president, called for a 'complete boycott' of all Chinese goods on April 25

Some of these journalists had urged the Uttar Pradesh government to conduct their sample tests

Till a few months ago, not a day would go by when Shiromani Akali Dal (SAD) would not criticise the Bharatiya Janata Party (BJP) even though the two parties are in alliance.

Students of these 26 institutes will provide interns to help the EGoMs with data analysis and policy inputs

The Punjab chief minister said he had written to Manmohan Singh 'to guide us, along with the group of experts'

There have been numerous gazette notifications from Gadkari's ministry on land acquisition and other related issues to expedite work on national highways, bridges and flyovers

PM Modi's pandemic messaging has been mostly directed at the middle class and elites and there's little empathy for the poor millions. Is he losing his political touch?