LIVE: US adds 4.8 million jobs in June as unemployment falls to 11.1%

Goa Tourism Minister Manohar Ajgaonkar said the coastal state would be opened for tourists starting July 2. Stay tuned with Business Standard for the latest news of today

8:13 PM

Latest News LIVE update: Bank credit grows 6.18%, deposits 11%, says RBI data

Bank credit and deposits grew 6.18 per cent and 11 per cent to Rs 102.45 trillion and Rs 138.67 trillion, respectively, in the fortnight ended June 19, according to the RBI. In the fortnight ended June 21, 2019, bank credit had stood at Rs 96.48 trillion and deposits at Rs 124.92 trillion. In the previous fortnight that ended on June 5 this year, advances had grown 6.24 per cent and deposits by 11.28 per cent.

 

Rating agency Crisil in a recent report said bank credit growth is likely to nosedive to a multi-decadal low of 0-1 per cent in 2020-21 as economic activity is sharply impacted by the COVID-19 pandemic.

 

For May, the non-food credit growth decelerated to 6.8 per cent year-on-year from 11.4 per cent in the corresponding period of the previous year, RBI data had shown. The outstanding incremental non-food credit stood at Rs 90.3 trillion as of May 22, 2020, against Rs 84.51 trillion on May 24, 2019.

 

Bank loan growth to industry decelerated to 1.7 per cent in May from 6.4 per cent in the corresponding month last year. Loan growth to the services sector slowed down to 11.2 per cent in May, compared with 14.8 per cent a year ago. Personal loans growth decelerated to 10.6 per cent in May 2020, against 16.9 per cent in May 2019, RBI data showed.

7:58 PM

US H-1B visa suspension to effect Indians, should be revoked: Rahul Gandhi

Congress leader Rahul Gandhi has demanded that suspension of the H-1B visas should be revoked as it will impact millions of Indians. He also said that America has benefited from India's talent.

 

Rahul Gandhi in a tweet said, "America has benefited enormously by embracing India's vast talent pool through its H-1B program." "Its suspension will impact millions of Indians and US firms. It should be revoked," added Rahul.

 

The former Congress president was reacting to US Democratic Presidential candidate Joe Biden, who said that he will lift the temporary suspension of the H-1B visas if he wins in the November Presidential elections.

 

The Trump administration suspended the H-1B visas along with other types of foreign work visas until the end of 2020 to protect American workers in a crucial election year. READ MORE...

7:51 PM

Latest News LIVE: Won't sell Chinese mobile phones, say shopkeepers in Ahmedabad

Amid escalating border tension between India and China, the shopkeepers in Ahmedabad city's largest mobile phone market said they have decided not to sell Chinese gadgets henceforth, and urged Indian companies to manufacture good quality and affordable devices to provide an alternative. These vendors have even covered the signboards of Chinese brands in their shopping complex with banners saying "Made In India", news agency PTI reported.

 

The multi-storey Murtimant Complex on Relief Road in the eastern part of the city houses over 50 retail as well as wholesale shops, which sell mobile phones and accessories worth lakhs of rupees every day.

 

As calls for boycott of China-made goods erupted across the country after 20 Indian soldiers died in a violent face-off with Chinese troops in Ladakh's Galwan valley last month, the shopkeepers in Ahmedabad decided not to sell any products manufactured in the neighbouring country.

 

"We have decided to boycott Chinese items. In the coming days, we will permanently remove the signboards of the Chinese mobile phone brands. Since we have already stocked China-made devices, we will sell them in the next one month and then buy only Indian or South Korean goods," said Rakesh Mehta, a shop owner.

 

Another shopkeeper said that no one is interested in selling Chinese goods if traders get such devices from Indian manufacturers.

 

"I support this call for boycott, but it's also a fact that Chinese goods is a lot cheaper. We are selling it because customers are not ready to shell out more for the high-end products," said a wholesale trader.

7:40 PM

Plea before court seeking FIR against Ramdev for falsely claiming to have found cure for Covid-19

An advocate has moved a Delhi Court seeking lodging of an FIR against yoga guru Baba Ramdev and others for allegedly cheating people by falsely claiming that his firm Patanjali hasfound a cure for COVID-19, news agency PTI reported.

 

The application, filed by advocate Tushar Anand, claimed that Ramdev and other persons only had permission to make/produce an immunity booster and they are falsely representing/making a false claim in the media that they have found a cure for COVID-19.

 

The accused persons are taking undue advantage of media and have made a false representation to the people who will buy the product since, the above said accused persons are claiming it to cure the said the deadly corona virus.

 

By virtue of this the accused persons in a pre planned hatched conspiracy with mala fide intentions to cause wrongful loss to the public at large by making such mis-representations and with intention to cause wrongful gain to themselves and also producing a product for which they never claimed/received a license by the concerned authorities, the plea said.

 

The application is likely to come up for hearing on Friday. It has sought lodging of the FIR under various sections including 270 (malignant act likely to spread infection of disease dangerous), 420 (cheating) and 504 (intentionally insults with intent to provoke break of public peace).

7:31 PM

Private train operations likely by 2023, fares to be competitive: Railways

Private train operations in the country will begin by April 2023, and the ticket fares in these trains will be competitive with airfares on similar routes, the Railways said Thursday.

 

Addressing a press conference online, Railway Board Chairman VK Yadav said that private players in passenger train operations will mean a quantum jump in technology and coaches that run at higher speeds.

 

The improvement in technology will also mean that the coaches that now require maintenance after running 4,000 km, will need maintenance after every 40,000-km, that is either once or twice a month, he said.

 

His statement came a day after the Railways formally kickstarted its plans to allow private entities to operate passenger trains on its network by inviting request for qualifications (RFQ) for participation on 109 pairs of routes through 151 modern trains. READ MORE...

 

7:26 PM

HUL renames its flagship skin care brand Fair & Lovely as Glow & Lovely

Fast-moving consumer goods major Hindustan Unilever Ltd's (HUL's) flagship skin care brand for women Fair & Lovely will now be known as Glow & Lovely.

 

"Over the next few months, Glow & Lovely will be on the shelves and future innovations will deliver on this new proposition," the company said on Thursday.

 

The men's range of Fair & Lovely will be called Glow & Handsome. HUL said the next step in evolution of its skin care portfolio is to have a more inclusive vision of positive beauty. A week ago, the company had said it will stop using the word 'Fair' in the brand name Fair & Lovely.

 

"We are making our skin care portfolio more inclusive and want to lead the celebration of a more diverse portrayal of beauty," said HUL Chairman and Managing Director Sanjiv Mehta. READ MORE...

 

7:13 PM

Latest News LIVE update: 17 die in fresh lightning strikes across Bihar

At least 17 more people died in lightning strikes in various parts of Bihar on Thursday, officials said. However, according to unconfirmed reports, at least 20 people have died due to lightning strikes in the state. According to Police, five people died after being struck by lightning in Dulhin Bazaar of Patna alone, news agency IANS reported.

 

An official of the Disaster Management Department said that according to the information received from the districts, 17 people died due to lightning in the state on Thursday -- five of them in Patna, four in East Champaran, three each in Samastipur and Katihar and two in Shivhar district.

 

The Meteorological Department on Wednesday had issued an alert for heavy rain and thunderstorms in the next 48 hours. On Tuesday, 11 people had died by lightning in various districts of Bihar, while on June 26, at least 96 people died across Bihar in lightning strikes.

6:57 PM

I don't need any certificate from Digvijaya Singh and Kamal Nath, says BJP leader Jyotiraditya Scindia

"Tiger abhi zinda hai," said BJP leader Jyotiraditya Scindia on Thursday as he launched an attack on Congress leaders Digvijaya Singh and Kamal Nath and accused them of going back on promises to people of Madhya Pradesh, news agency ANI reported.

 

Scindia made the remarks on a day the Shivraj Singh Chouhan government in the state was expanded with the induction of 28 ministers.

 

"I don't need any certificate from Kamal Nath nor Digvijaya Singh. The facts are before the people how they looted the state in 15 months. They have taken everything for themselves. They (people) have also seen their history of going back on promises. But I would only like to tell them 'tiger abhi zinda hai (tiger is alive)," Scindia told reporters here.

 

Earlier today, Scindia had said that the cabinet is not a leader's team but that of people and will serve them.

 

"This (the Cabinet) is not any leader's team, but the team of the public. They are not the government's ministers but public servants. We will strive for serving the people and will provide services to the last person in the society. In 100 days of its rule the Shivraj Singh government has battled corona, helped the farmers in every possible way. We will continue doing this in the next four years," Scindia said.

 

Scindia, who joined BJP on March 12, also expressed the hope that the 12 ministers chosen in the Cabinet today will win by-polls when these are held. Chouhan on Thursday held the first cabinet meeting of the expanded cabinet in Bhopal. He returned as chief minister in March after Kamal Nath resigned from the post as his government was reduced to a minority due to resignation of over 20 Congress MLAs.

6:44 PM

Latest News LIVE update: Mumbai, adjoining areas to get heavy rainfall in 2-3 days, says IMD

Mumbai and its adjoining areas will receive heavy rainfall in the next two to three days, said India Meteorological Department (IMD) in the city on Thursday. The IMD said, heavy to very heavy rainfall is likely to occur at isolated places in Mumbai and heavy rainfall is likely to occur at isolated places in Thane and Palghar on Friday, news agency ANI reported.

 

According to IMD Panaji, heavy to very heavy rainfall is very likely at a few places in north and south Goa on July 3 and 4. For fishermen high wave warnings have been issued for the next five days. The weather department further predicted that for north Goa, heavy rainfall is very likely at a few places with very heavy rainfall very likely at isolated places over the district on July 2.

 

For south Goa, heavy rainfall is very likely at a few places with very heavy rainfall likely at isolated places over the district on Thursday. The IMD further predicted that for north Goa, heavy rainfall is very likely at a few places with very heavy rainfall likely at isolated places over the district on July 5. For south Goa, heavy rainfall is very likely at a few places with very heavy rainfall likely at isolated places over the district on July 5.

6:16 PM

Pakistan cannot shift the blame on India for its domestic problems: MEA

6:16 PM

Centre extends postal ballot facility to voters above 65, Covid-19 patients under quarantine

The government has extended the postal ballot facility to electors above 65 years of age and COVID-19 positive patients who are under home or institutional quarantine. The changes have come about months before assembly elections in Bihar, which are likely to take place later this year. According to a notification by the Law and Justice Ministry, the Centre after consulting the Election Commission of India (ECI) made rules to further amend the Conduction of Election Rules, 1961, news agency ANI reported.

 

The notification said that in the rule 27A, clause (aa) of the Conduct of Election Rules 1961, after the words "or persons with disability" occurring at the end, the words, letter and figures "or the COVID-19 suspect or affected persons" shall be inserted.

 

In clause (e), for the figures and word "80 years", the figures and word "65 years" shall be substituted.

 

After clause (e), according to the notification, a clause (f) shall be inserted which will read "COVID 19 suspect or affected persons" means the electors who are (i) tested as COVID 19 positive by the government hospital or the hospital recognised by the government as COVID hospital, or (ii) under home quarantine or institutional quarantine due to COVID 19, and certified by such competent authority, as may be notified by the state government or union territory administration.

6:12 PM

Mumbai Police to record filmmaker Sanjay Leela Bhansali's statement in connection with actor Sushant Singh Rajput's death case

6:09 PM

Expect China to sincerely follow up and ensure expeditious restoration of peace: MEA

6:05 PM

Latest News LIVE: Hindustan Unilever to rename skin lightening cream to 'Glow & Lovely'

The Indian arm of global consumer giant Unilever said on Thursday its much-criticised skin cream 'Fair & Lovely' will be rebranded as 'Glow & Lovely'.

 

Its skin cream for men will be called 'Glow & Handsome', Hindustan Unilever said, a week after announcing it would rename its skin lightening cream that has drawn flak for promoting negative stereotypes related to darker skin tones, news agency Reuters reported.

 

5:58 PM

Defence Minister Rajnath Singh's planned visit to Ladakh tomorrow has been rescheduled: PTI