Top 15 finance stories of the day

Big financial developments at a glance:

Moody's says India's growth projections ambitious; GDP expansion likely at 4.9% in FY20, 5.5% in FY21

Moody's Investors Service on Tuesday said economic growth projections made by Finance Minister Nirmala Sitharaman in her Budget for 2020-21 appear ambitious given the structural and cyclical challenges facing the Indian economy. Read more

Gold prices surge even as risk sentiment improves on Fed's corporate bond buying program

Gold prices in India on Tuesday rose 0.34% or Rs. 162 to Rs. 47188 per 10 gm. In the previous session, gold prices inched lower by 0.65% or Rs. 308 to Rs. 47026. Silver also inched higher 0.56% or Rs. 267 to Rs. 47660 per kg. Read more

Petrol, diesel prices in India hiked for the 10th consecutive day

On Tuesday, fuel prices across the country were raised for the tenth consecutive day even as international crude oil prices remained subdued. Read more

Now EPF claim settlement possible from any of its regional offices

The EPFO, the retirement fund managing body, on Monday launched a multi-location claim settlement facility. This move will enable claim settlement from any of the organization's regional offices across the country.Read more

Rupee opens stronger at 75.89 per US Dollar

Rupee in Tuesday's trade (June 16, 2020) opened higher at 75.89 previous close of 76.03 per US dollar. This was on account of resilience in Indian equities as also weakness in dollar which lost momentum after the US Fed's corporate bond buying program lifted investor sentiment. Read more

Sensex ends higher, border tensions limit gains

Benchmark indices ended the day higher, significantly underperforming global markets, as border tensions between China and India reduced gains. Read more

'Why no insurance cover for mental health?' SC issues notices to Centre, Regulator

The Supreme Court on Tuesday issued notices to the Centre and the IRDAI, the regulatory body for insurance sector, on a plea seeking extension of financial cover for mental illnesses too. Read more

How to apply for a PAN Card: advantages, fees, eligibility, FAQs

A Permanent Account Number or PAN is a 10-digit unique identification alphanumeric number to identify a taxpayer in India. All tax-related information of a person is regarded against this number which acts as a primary key to store the information. No two people can have the same number. Read more

Salary cut to deal with COVID-19 to have impact on your gratuity too

Gratuity, i.e. a retirement benefit provided to those who render five or more continuous years of service to an employer, also come at stake for those who are soon to retire. This is being said as the Covid 19 outbreak and consequent disruption on account of it has pushed companies across sectors to take on to pay cut to reduce their fixed cost. Read more

Mutual Fund investors turn cautious now!

The month of May was divided into two halves for the equity market. In the first half, the leading equity indices were down by 10 per cent whereas, in the second half, they made a remarkable comeback. One of the reasons for such a recovery was that both foreign institutional investors (FIIs) and domestic institutional investors (DIIs) turned net buyer in the market. Read more

Tata Motors owned Jaguar Land Rover to slash over 1,000 jobs as COVID-19 crisis hits earnings

Tata Motors Ltd expects to shed about 1,100 temporary jobs at Jaguar Land Rover after it raised the cost-cutting target at its luxury unit by 1 billion pounds ($1.26 billion) to ride out the disruptions caused by the coronavirus outbreak. Read more

Amazon CEO Jeff Bezos agrees to testify before US Congress in antitrust probe Inc said on Monday its founder and Chief Executive Jeff Bezos was willing to testify to a congressional panel investigating potential violations of U.S. antitrust law by big technology companies. The company’s attorney sent a letter to members of the House Judiciary Committee, saying Amazon had cooperated with the probe. “This includes making Jeff Bezos available to testify at a hearing with the other CEOs this summer,” said the letter from Robert Kelner of Covington and Burling LLP. Read more

Employment rate In India begins to improve in June

India's unemployment rate fell sharply in the second week of June, as many jobs lost during the nationwide lockdown were restored, offering some hope. Read more

Miss flying over cities? Here's a stunning visual treat for you

With international travel having come to a standstill due to the COVID-19 pandemic, hoping to catch a glimpse of cities from the top is now a great expectation! We can now only expect to see them virtually before we strike it off our bucket lists. Gallery

Automatic cars under Rs 10 lakh

Demand for automatic cars is on the rise, and the reason for that is our ever-worsening traffic. To cater to this demand, carmakers have rolled out automatic options across price points and body styles. Read more