- State Bank of India (SBI) has come up with a slew of special offers for its retail customers to spread festive joy amid the coronavirus pandemic. The nation’s largest lender has announced a 100% waiver in the processing fee for all customers applying for a car, gold, and personal loan through YONO. The bank is offering the lowest interest rate starting from 7.5% to customers opting for car loans. They will also get 100% on-road finance on select models.
- US stocks soared on Monday as new stimulus hopes and encouraging economic data lifted investor sentiments. On Sunday, House Speaker Nancy Pelosi told CNN that House Democrats may offer their latest stimulus proposal as legislation if revived talks with the Trump administration do not yield a deal her party can get behind.
- Gold prices today fall again, down ₹7000 from record highs. Gold and silver prices continued to be under pressure in Indian markets today. On MCX, gold futures fell 0.4% to ₹49,460 per 10 gram, extending last week’s sharp fall, while silver tumbled 1% to ₹58,473 per kg. Last week, gold prices in India had tumbled ₹2,000 per 10 gram in India while silver plunged ₹9,000 per kg. As compared to is August 7th highs of ₹56,200, gold is down about ₹7,000 per 10 gram
Also read: Gold Mutual Fund vs Gold ETF
- Restaurants in the state are likely to begin their operations from the first week of October as the state government has assured hoteliers during their meeting with chief minister Uddhav Thackeray on Monday of receiving the requisite permissions. The state government has prepared a Standard Operation Procedure (SOP) for the restaurants, which is expected to be finalised in the next few days.
- Leading stock exchange BSE said it has signed a pact with private sector lender Yes Bank to empower the small and medium enterprises (SMEs) listed on the platform. The pact aims at empowering the SME segment through awareness and knowledge-sharing programs, BSE said in a statement. As per the Memorandum of Understanding (MoU), BSE and Yes Bank will conduct knowledge events for SMEs, export promotion of SMEs, in addition to providing banking and financial solutions.
- In what is likely to be a massive boost for the booming Indian start-up community, the Government is engaged in discussion with a global pension fund and Insurance Regulatory Development Authority of India (IRDAI) to float a $2 billion alternative investment fund (AIF) for small and emerging start-ups
- Saudi Aramco remains engaged with the proposed $44-billion refinery-cum-petrochemicals complex in Maharashtra, amid speculation that the oil crash may tempt Saudis to dump the venture for a stake in BPCL or Reliance Industrie. Saudi Aramco had agreed in 2018 to take 50% stake in the proposed refinery – the other half would be with Indian Oil, BPCL and HPCL – and share part of that with the UAE’s Abu Dhabi National Oil Company (Adnoc).
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