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Vivek Sharma, MD at Panasonic Life Solutions India, said these stores will serve as experience centres for consumers and influencers, He said the stores will target customers as well as builders, contractors and architects. The company has opened the first such outlet in Hyderabad will be setting up these stores in a franchise owned and operated model.

"Two long-term policy decisions have been taken to make India hub of electronics manufacturing in new directions and medical electronics. Cabinet has approved production linked-incentive for electronics companies. We will give Rs 40,995 crore in the coming five years for production linked-incentive," Union Communications Minister Ravi Shankar Prasad said.

On the impact of the outbreak, the company said: "COVID-19 has affected the supply of some components to our manufacturing facilities and volume of business in 'Servicetec' segment. This is likely to impact our planned production and volume of business in excess of 10 per cent for the month of March."

For domestic mobile phone companies, the investment threshold is Rs. 200 crore over four years and sales criteria is Rs. 5000 crore in five years and for components it is Rs. 100 crore for 4 years and Rs. 600 crore of sales in 5 years.

Having suffered an unprecedented sales decline of 6-7 per cent in 2019-20, the industry will be up against challenges in both supply and demand sides due to the coronavirus pandemic, Panasonic India and South Asia President and CEO Manish Sharma said.

​​Even after the curbs are lifted, social distancing norms and an overall fear of the pandemic may keep people away from the stores for some time.

The company plans to make investments of around Rs 210 crore on infrastructure development of the facility over the next four years. This new manufacturing facility will cater to the domestic and international business for Compaq televisions, for which it holds licence for multiple countries and regions.

Prasad, speaking after a virtual meeting with state IT ministers, also said India needed to capitalise on a huge electronics manufacturing opportunity that has been thrown open, as companies look to move of China in the wake of the Covid-19 virus outbreak.

After 40 days of lockdown, certain business activities like opening of standalone stores and e-commerce delivery of non-essential items have been allowed in green and orange zones (locations with few or no COVID-19 cases).

South Korean electronics giant Samsung has resumed limited manufacturing operations at its Noida plant and will scale up the production gradually, a company official said on Friday.

Industry has also pitched for SPV with initial funding from govt, to help refinance small and mid-sized NBFCs

Affirms Issuer Default Ratings for seven banks including these four and Bank of India, Canara and PNB

On April 27, the RBI had introduced the Rs 50,000-crore liquidity line for the MF industry

Capital infusion to be supported by IDFC limited, ICICI Prudential Life, HDFC Life, Warburg Pincus and Bajaj Allianz

The meeting will take stock of implementation of several steps announced by the RBI, including moderation in interest rate and its transmission, as well as liquidity infusion measures for industry

Fitch has cut its forecast for India's GDP growth in the financial year ending March 2021 (FY21) to 0.8 per cent from a pre-pandemic forecast of 5.1 per cent

Dhawan will assume charge from Saturday in place of Ashish Agarwal, the current chief risk officer, who will be transitioning to a new role in the bank

The meetings were also attended by deputy governors and other senior officers of the central bank, RBI said in a statement on its website

Depositors to get up to Rs 5 lakh under deposit insurance on liquidation

Relaxation likely on branch audit as Guv meets bankers

The number of NPA accounts rose from 2,08,035 as of March 31, 2014, to 6,17,306 as of December 2019

The RBI cancelled the licence of CKP Co-op Bank on April 28, and notified the cancelletaion on its website on Saturday. There it also said that deposits up to Rs 5 lakh are guaranteed by the DICGC

Mutual Funds say they didn't need to use their liquidity line fully

Suggestions from various quarters, including from Indian Banks' Association, have come for the further extension of moratorium and the RBI is actively considering them, according to sources.

Senior SBI executives said most of those seeking deferment are retail and micro and small enterprises and are hard-pressed for resources when earning and cash flows have almost dried up.

In addition, West Bengal will also request the Reserve Bank of India (RBI) to increase the additional credit limit to MSMEs, to 30 per cent from the existing 10 per cent.

Axis' credit costs for the quarter ended March 31, 2020 are higher than anticipated, but some of it is precautionary

Considers 25 fresh credit proposals from shadow banks

The lender had psoted a pre-tax loss of Rs 2,338.31 crore in the same quarter of previous financial year

There is a facility of standby line of credit for MSMEs as well as PNB COVID-19 Emergency Credit Facility (PNB-CECF), the bank said

The bank saw a healthy growth of 37 per cent in its operating profit at Rs 765 crore compared to Rs 560 crore a year ago.

The rise in currency in circulatiom is perplexing when economic activity has nosedived. Generally, CIC should rise in tandem with growth in economic activities, as people need cash to transact

During March-April 2020, PSBs sanctioned loans worth Rs 5.66 lakh cr for more than 41.81 lakh accounts

Bank sets aside Rs 334 cr for expected penalty for SLR breach