(ET) State-owned NMDC Limited the country’s largest mining company, has said it will contribute Rs 150 crore to the PM Cares Fund to help in the fight against COVID-19. This was announced in a tweet by N Baijendra Kumar, chairman, NMDC. NMDC has already rolled out various preventive measures at its headquarters, plants and offices to protect the employees and their families against the spread of COVID-19. The company, which has operations in the remote parts of India, has also has also implemented steps to fight the COVID-19 at the villages and hamlets adjacent to its facilities and townships. Commenting on…
Author: Aruna Sharma
(FE) After offering a relief package to the poor and the vulnerable, the government is gearing up for the next round of economic measures that will likely focus on the needs of specific sectors — including MSMEs, exports, tourism, civil aviation and animal husbandry — that have been battered by the Covid-19 outbreak. Sources told FE that some of the proposals being considered are interest subsidy on loans to MSMEs and collateral-free advances to eligible small businesses with a good repayment history. The government might also impress upon the central bank to consider extending beyond December 2020 a loan restructuring…
(ET) All bank branches across the country will be operational from Monday following a advisory from the government as pressure on bank branches is likely to mount due to salary and pension payment. The department of financial services (DFS) told banks to keep all banking channels open and ensure branches and business correspondents function throughout the lockdown period, so that people do not face any hassle in their financial transactions. DFS advisory will also aimed that servicing rural customers who are likely to be benefited under the government’s Rs 1.7 lakh crore financial assistance package amid coronavirus-led business disruptions. Branches…
(ET) About 1,000 MW of solar projects in Haryana are unable to transmit electricity because distribution firms are not giving them the required connectivity, a grouping of solar power developers said.The Distributed Solar Power Association, a body of solar rooftop developers, it’s likely to soon file a petition before the Haryana Electricity Regulatory Commission protesting the power discoms’ reluctance. All these are ‘open access’ projects, where developers supply power directly to their customers without routing it via a discom. But they need the consent of the area’s discom to do so.Though open access transmission is being encouraged by states, in practice,…
(The Pioneer) Union Minister Dharmendra Pradhan on Sunday contributed his one month’s salary and a sum of Rs 1 crore from his MPLAD fund to the Prime Minister’s Relief Fund (PMRF) for combating the COVID-19 pandemic. Pradhan in a tweet informed about this and mentioned, “In these difficult times, we should stand with the needy. In view of the coronavirus outbreak, I contribute my one month’s salary and Rs one crore MPLAD fund to the PMRF).” “I hope that this will be helpful in putting a smile on the faces of the deprived people,” he added.
(ET) Power plants have been exempted from advance coal and freight payments for three months, which will prevent supply disruption during the lockdown and give a major relief to generating firms, particularly in the private sector. A senior ministry official said the short-term dispensation was requested by private power companies that constitute 35% of Indian electricity generation base as they cited cash crunch due to non-payment by discoms. State and central generating companies including NTPC also face the problems but the power ministry on Friday directed them to supply electricity to even defaulting state electricity distribution companies through a three- month…
(LiveMint) Minister of Petroleum and Natural Gas Dharmendra Pradhan after his discussions with Saudi Minister of Energy, Prince Abdulaziz bin Salman, on global oil market developments said that Saudi Arabia has assured India of uninterrupted supply of LPG. “Had a video conference with HRH Prince Abdulaziz, Saudi Minister of Energy and Mr Amin Nasser, President and CEO @Saudi_Aramco. We discussed about the global oil market developments and on uninterrupted LPG supplies from Saudi Arabia to India,” Pradhan tweeted.”HRH Prince Abdulaziz assured of LPG supplies in the coming days to support our domestic requirement,” Pradhan added. While there has been a slump…
(FE) The Centre will disburse April-July installment of Rs 2,000 each to about 9 crore farmers under its flagship PM-Kisan scheme immediately, front-loading release of the money which was otherwise to be transferred by mid-April latest. Under the scheme, launched in February 2019, each beneficiary farmer is entitled to get Rs 6,000 every year in three equal installments as direct income support. The Centre has so far transferred a total of Rs 53,180 crore into the bank accounts of 8.8 crore, 7.8 crore, 6.5 crore and 3.4 crore farmers (not mutually exclusive sets) as first, second, third and fourth installments…
(TH) The Union government on Thursday announced a Rs.1.7 lakh crore package in response to the COVID-19 pandemic and countrywide lockdown, providing free food and cash transfers to support the poorest citizens who are most vulnerable during the crisis. The food grain ration for 80 crore poor people would be doubled for the next three months, supplemented by a kg of local pulses as well, Finance Minister Nirmala Sitharaman said on Thursday. The Centre would provide ₹50 lakh medical insurance cover for the next three months for about 22 lakh health workers in government hospitals fighting the spread of the…
(FE) The Directorate General of Civil Aviation (DGCA) international passenger flights to and from India will remain suspended till April 14, in tandem with the countrywide lockdown. “It has been decided that all scheduled commercial passenger services shall remain closed till 1830 hours GMT of April 14, 2020,” the civil aviation regulator said. The restriction will not apply to international cargo operations and flights that have been approved by the DGCA. On Monday, Prime Minister Narendra Modi announced a lockdown in the entire country for three weeks, limiting public movement through roads, railways and air transport. The restrictions were put in place…