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Sensex up 1,000 points ahead of RBI Governor’s briefing

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Sensex equity Nifty

Mumbai, April 17 ) The Indian stock market opened on a positive noted on Friday, with the BSE Sensex rising over 1,000 points.

The gains came ahead of the briefing by the Reserve Bank of India’s (RBI) Governor Shaktikanta Das at 10 a.m. Investor sentiments were boosted on hopes of further support for liquidity easing in the economy.

Rise in the Asian indices also supported the domestic markets, analysts said.

At 9.32 a.m., Sensex was trading at 31,648.99, higher by 1,046.38 points or 3.42 per cent from the previous close 30,602.61.

It had opened at 31,656.68, and has touched an intra-day high of 31,711.70 and a low of 31,512.11.

The Nifty50 on the National Stock Exchange (NSE) was trading at 9,283.80, higher by 291 points or 3.24 per cent from previous close.

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Government hints at incentives for resumption of film, TV production

“To accelerate the restart of filmmaking that had come to a standstill as a result of COVID, we are also coming up with incentives of production in all sectors, including TV serials, film-making, co-production, animation, gaming. We will be announcing these measures shortly,” Union Minister for Information and Broadcasting Prakash Javadekar said on Tuesday..

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PRAKASH JAVEDAKAR-WEFORNEWS

Union Minister for Information and Broadcasting Prakash Javadekar has announced that the government will soon issue Standard Operating Procedures to boost resumption of film production, at a time when the nation is witnessing the unlocking phase after the lockdown.

“To accelerate the restart of filmmaking that had come to a standstill as a result of COVID, we are also coming up with incentives of production in all sectors, including TV serials, film-making, co-production, animation, gaming. We will be announcing these measures shortly,” the minister said on Tuesday while speaking at the 21st edition of FICCI Frames.

Owing to the COVID- 19, this year the annual event was held virtually instead of being organised near Powai Lake, where it normally takes place.

The FICCI Frames Virtual Summit will continue till July 11.

As the nation witnesses a phased opening up of the Covid-19 induced lockdown, film industries across the country prepare to get back to action.

On Tuesday, Bollywood actress Taapsee Pannu took to Instagram Stories to announce she was back at work. She gave a glimpse of her make-up vanity room, sharing that she has started shooting amid the ongoing coronavirus pandemic.

“Let’s do this. #BackToWork,” Taapsee captioned the image.

Also on Tuesday evening, trade analyst Taran Adarsh announced that a new Bengali film titled “SOS Kolkata” will be going on floors on Wednesday. The film starring Yash, Nusrat Jahan, Mimi Chakraborty, Sabyasachi Chakraborty and Shantilal Mukherjee in key roles, is slated for a Durga Puja release this year.

In Mumbai, Ekta Kapoor recently resumed shooting for her daily soap “Naagin 4”.

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Economic mismanagement a tragedy, will destroy millions: Rahul Gandhi

The Congress leader has been raising the issue of economic problems Indians are facing due to the lockdown amid coronavirus pandemic.

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Rahul Gandhi

New Delhi, July 7 : Reacting to a research report that Indians are worst-hit on the economic front and that 8 out of 10 rural households had lost income during the coronavirus pandemic, Congress leader Rahul Gandhi on Tuesday alleged that the economic mismanagement was a tragedy that was out to destroy millions.

“India”s economic mismanagement is a tragedy that is going to destroy millions of families,” he tweeted.

He said that it would no longer be accepted silently.

The Congress leader has been raising the issue of economic problems Indians are facing due to the lockdown amid coronavirus pandemic.

Rahul Gandhi was quoting research by University of Chicago and Centre for Monitoring Indian Economy, which said that 80 per cent rural and 75 per cent urban households have suffered loss in income.

Congress General Secretary KC Venugopal in a statement on Tuesday said that the country lost nearly 13 crore jobs, with many states reaching unemployment figures of 40 per cent.

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HDFC Bank cuts interest rates on loans by 20 bps

Banks review MCLR every month. Last month the HDFC Bank had reduced MCLR across tenors by 5 bps.

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HDFC Bank

Mumbai, July 7 : The HDFC Bank has reduced the marginal cost of funds-based lending rates (MCLR) on loans across tenors by 20 basis points with immediate effect.

Following the reduction, MCLRs of the bank will range from 7.10 per cent to 7.65 per cent.

The bank”s overnight MCLR now stands reduced to 7.10 per cent and its one-month MCLR is 7.15 per cent. One-year MCLR will now be 7.45 per cent, while three-year MCLR stands at 7.65 per cent.

Banks review MCLR every month. Last month the HDFC Bank had reduced MCLR across tenors by 5 bps.

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