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Top 10 finance news of the day

Here’s a roundup of the top 10 finance news stories of the day...

Ensure effective rollout of Rs 3-lakh crore ECLGS for lockdown-hit MSMEs: FM to Private Banks

Finance Minister Nirmala Sitharaman on Monday held a meeting with the heads of major private sector banks, and asked them to ensure effective rollout of Rs 3-lakh crore ECLGS for the MSME sector, hit hard by coronavirus-induced lockdown. Read more

4 reasons of Nifty’s fall by over 2% on June 15

After a second wave of coronavirus infection gripped the US and China and cases in India are on the rise, stock markets are once again on the selling spree. Read more

After Rs. 5 per litre hike in petrol, diesel cost: prices to rise further

With nine straight days of hike in petrol and diesel price, cost of auto fuel has scaled to its highest in over a year. Read more

RBI may need to choose between FX, bond interventions in second half - economists

The Reserve Bank of India's interventions in the foreign exchange market have helped reserves climb to a record $501.7 billion in early June, but economists say the pace of increase is likely to taper in the second half of this fiscal year. Read more

Indian exports fall by over 36% in May

India's merchandise exports shrank by more than a third in May from a year ago, dragged down by a fall in global demand and shipments due to the outbreak of coronavirus, trade ministry data showed on Monday. Read more

New Honda WR-V BS6 SUV starts arriving at dealerships: expected prices & other details revealed Honda Cars India revealed the 2020 WR-V SUV in the Indian market, earlier this year. The new Honda WR-V comes with a number of subtle cosmetic revisions while also featuring an updated BS6-compliant engine. Read more

In need of capital, Lakshmi Vilas Bank says it was approached by potential investor

Indian private lender Lakshmi Vilas Bank said on Monday it had been approached by Clix Capital but gave no details after local media reported that the finance company had proposed taking a significant stake in LVB. Read more

MSMEs to be categorised from July according to new standards

Starting in July, more than six crores micro, small and medium-sized companies throughout the country will be listed on the basis of new government-approved guidelines. Under the revised criteria, a company with an expenditure Rs 50 crore and turnover crore Rs 250 would fall into the category of 'medium' business. Read more

China to start auctioning 1 Trillion Yuan special treasury bonds for economic stimulus this week: Report

The Chinese government will begin auctions this week of a planned issue of 1 trillion yuan ($140.98 billion) of special treasury bonds to help finance recovery from the coronavirus pandemic, sources told Reuters on Monday. Read more

India's first natural gas exchange begins operations

On Monday, Indian Gas Exchange (IGX), the country's first natural gas exchange, was launched online by Dharmendra Pradhan, minister of petroleum and natural gas. Read more