NBD should enhance emergency facility to USD 10 billion to fight Covid-19: Sitharaman
The National Development Bank (NDB) was established by Brazil, Russia, India, China and South Africa in 2014.
By Asian News International | New Delhi
PUBLISHED ON APR 21, 2020 07:08 AM IST
Finance Minister Nirmala Sitharaman on Monday asked New Development Bank (NDB) to enhance the emergency facility to USD 10 billion to combat Covid-19 pandemic.
Sitharaman participated in the 5th Annual Meeting of Board of Governors of NDB through video-conference.
“On the discussion of Covid-19, FM appreciated NDB’s effort on fast-tracking of financial assistance of about USD 5 billion to BRICS countries including Emergency Assistance of USD 1 billion India to combat Covid-19 pandemic. She also suggested that, assistance under this Facility to be enhanced to USD 10 Billion,” an official statement quoted Sitharaman.
During the discussion, she outlined various measures taken in India to respond to the Covid-19, includes, allocation of USD 2 Billion (Rs 15,000 crore) by the Indian government.
She also strongly encouraged NDB to take appropriate actions to join the G-20 forum along with other Multilateral Development Bank (MDBs)/International Financial Institutions (IFIs).
The minister urged NDB to follow innovative practices in supporting the BRICS nations for achieving their Sustainable Development Goals.
The NDB was established by Brazil, Russia, India, China and South Africa in 2014.
The purpose of the Bank is to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries to complement the existing efforts of multilateral and regional financial institutions for global growth and development.
NDB has so far approved 14 projects of India for an amount of USD 4,183 million.
(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)
Gold prices down over 20% from highs. Should you invest?
By hindustantimes.com | Written by Meenakshi Ray, New Delhi
PUBLISHED ON MAR 07, 2021 06:40 PM IST
Gold has been falling for the past few months and has lost more than 20% in value from the highs witnessed in August last year.
RBI: India Inc's overseas direct investment falls by 31% to USD 1.85 billion
PTI, Mumbai
PUBLISHED ON MAR 07, 2021 06:27 PM IST
Domestic companies made investments of USD 2.66 billion in their overseas subsidiaries and joint-ventures in the year-ago month, February 2020.
OPEC+ surprise sees oil soar past Gulf’s budget-balancing Levels
Posted by Harshit Sabarwal | Bloomberg
PUBLISHED ON MAR 07, 2021 06:27 PM IST
The shock move by OPEC+ triggered a rally in Brent prices, which rose to almost $70 a barrel. That’s higher than annual average levels needed for the cartel’s largest producers, including Saudi Arabia, to balance their budgets this year.
Elon Musk’s historic wealth gains unravel with $27 billion loss
Bloomberg
PUBLISHED ON MAR 07, 2021 05:04 PM IST
Musk’s fortune hasn’t been solely subject to the forces buffeting the tech industry. His net worth has risen and slumped recently in tandem with the price of Bitcoin.
How to check PF balance without Universal Account Number
By hindustantimes.com | Edited by Ayshee Bhaduri, Hindustan Times, New Delhi
PUBLISHED ON MAR 07, 2021 02:49 PM IST
- For checking EPF balance without UAN number, users will need to log into their account through the EPF homepage at epfindia.gov.in.
On cryptocurrency, Anurag Thakur says ‘innovation welcomed, must evaluate ideas’
By hindustantimes.com | Written by Kanishka Sarkar, Hindustan Times, New Delhi
PUBLISHED ON MAR 06, 2021 09:09 PM IST
Anurag Thakur’s remark comes days after the Reserve bank of India (RBI) governor Shaktikanta Das flagged “major concerns” about the impact of cryptocurrencies on financial stability.
Opted for continuity in deciding tax devolution to states: FC chairman N K Singh
PTI
UPDATED ON MAR 06, 2021 07:39 PM IST
- The 15th Finance Commission has recommended that states be given 41 per cent of the divisible tax pool of the Centre during the period 2021-22 to 2025-26, which is at the same level as was recommended by the 14th Finance Commission.
From ITR to PAN-Aadhaar linking: Tax-related tasks to complete before March 31
By hindustantimes.com | Edited by Mallika Soni
UPDATED ON MAR 06, 2021 04:45 PM IST
- Here’s a list of some of the tasks which need to be performed by taxpayers before March 31
AirAsia CEO says company may launch flying-taxi business in 2022
Bloomberg
PUBLISHED ON MAR 06, 2021 02:55 PM IST
With the airline business taking a hit from the coronavirus pandemic, AirAsia has been expanding in the digital space.
Covid rescue plan clears hurdle as US economy shows gains
Posted by Harshit Sabarwal | AFP
PUBLISHED ON MAR 06, 2021 02:26 PM IST
Negotiations in the evenly divided Senate had frozen the chamber's action for some nine hours before the Democrats reached agreement with moderate Senator Joe Manchin, who had balked at the scale of the benefits.
Muthoot Group chairman MG George passes away: All you need to know
By hindustantimes.com | Written by Deepali Sharma
PUBLISHED ON MAR 06, 2021 11:24 AM IST
Notably, George was one of the six people from the Malayalee background to have entered the Forbes Magazine's Rich list of 2020.
A weak week for gold: Here's how the bullion fared
By hindustantimes.com | Written by Deepali Sharma, Hindustan Times, New Delhi
PUBLISHED ON MAR 06, 2021 11:17 AM IST
The continuous fall in the prices of gold allured Indian consumers to purchase more gold in physical form.
Centre, states need to discuss fuel taxes, says Sitharaman
By Gireesh Chandra Prasad, Hindustan Times, New Delhi
PUBLISHED ON MAR 06, 2021 02:15 AM IST
- In an interaction with members of the Indian Women’s Press Corps (IWPC), Sitharaman said that consumer sentiment about the tax burden on auto fuel was understandable.
Reliance to bear the cost of covid shots for its staff
By Kalpana Pathak, Hindustan Times, Mumbai
PUBLISHED ON MAR 06, 2021 02:10 AM IST
- Nearly 1.1 million vaccine doses were administered to people above the age of 60 and those in the 45-59 age group till Thursday.
Govt plans to scrap 6,000 compliances
By Asit Ranjan Mishra, Hindustan Times, New Delhi
PUBLISHED ON MAR 06, 2021 02:04 AM IST
- Mohapatra said the idea came during Modi’s meeting with Marriott International president and chief executive Arne Sorenson, who complained about the complex regulations in starting and running a hotel in India.