From liquor sale amid lockdown to SBI cutting savings rate- here’s what you might have missed in headlines today

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From liquor sale amid lockdown to SBI cutting savings rate- here’s what you might have missed in headlines today
  • SBI has cut the savings rate by 0.25% to 2.75% on all deposits.
  • The Confederation of Indian Alcoholic Beverage Companies (CIABC) has urged 10 states to allow sale of alcoholic beverages.
  • Investor wealth on Tuesday jumped ₹ 7,71,377 crore as markets bounced back.
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Following are the top business stories of April 7.

India biggest producer of 'game-changer' hydroxychloroquine drug; has enough capacity

India is the biggest manufacturer of hydroxychloroquine, the anti-malarial drug that is being touted as 'game-changer' in the fight against COVID-19 and is being aggressively sought by US President Donald Trump.

WhatsApp to limit sharing of frequently forwarded messages to one chat at a time

WhatsApp will allow users to send frequently forwarded messages to only one chat at a time as part of efforts to curb spreading of misinformation amid the coronavirus pandemic.

Sensex, Nifty log best single session ever tracking global peers

Indian market gauges Sensex and Nifty logged their biggest one-day gains ever in absolute terms on Tuesday, tracking global peers amid signs that the Covid-19 pandemic may be peaking in some of the hard-hit countries.
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Indian economy likely to grow 2% in FY21: Icra

Icra Ratings on Tuesday sharply cut the country's GDP forecast amid the COVID-19 crisis and expects the economy to grow at just 2 per cent in the current fiscal.

Rupee surges 49 paise to end at 75.64 against dollar amid stocks rally

The rupee on Tuesday surged by 49 paise to close at 75.64 against the US dollar, following a rally in stock markets.

Insurance cos start offering exclusive COVID-19 policies, partnering with online payment firms

Seeing business opportunity amid the spread of the coronavirus pandemic, insurance companies in the country have started offering policies specific to COVID-19 and some of them partnered with digital payment service providers to push sales of such plans, officials said on Tuesday.

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Remuneration paid to directors to attract GST: AAR

Companies will have to pay GST on the remuneration they dole out to directors, the Authority for Advance Ruling (AAR) has said.

Food insecurity, malnutrition, poverty may escalate in developing world says IFPRI

Food insecurity, malnutrition and poverty may escalate, particularly among marginalised people in the developing world due to the rapid spread of coronavirus, a latest report by International Food Policy Research Institute (IFPRI) said on Tuesday.

Plunging fuel demand has OMCs worried on all fronts

National oil companies are staring at inventory losses as they have to bring down refinery throughputs because of the plunging demand for fuels following the nationwide lockdown to contain the deadly coronavirus infection.

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RBI relaxes overdraft facility norms for states, UTs

The Reserve Bank on Tuesday relaxed norms for state governments to avail overdraft facilities for a longer period until September 30 as they are facing cashflow mismatches amid coronavirus outbreak leading to countrywide lockdown.

IL&FS case a 'blessing in disguise' to address corp governance issues: Official

Describing the IL&FS matter as a "watershed moment", Corporate Affairs Secretary Injeti Srinivas has said it was a blessing in disguise that forced the government to take the bull by its horns and address the difficult issue of corporate governance.

French firm Total's arm invests ₹ 3.7K cr to form JV with Adani Group

French energy firm Total SA on Tuesday said it has invested Rs 3,707 crore to set up 50:50 joint venture with Adani Green Energy Ltd (AGEL) through its step-down subsidiary.

Investor wealth jumps Rs 7.71 lakh cr as markets recover

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Investor wealth on Tuesday jumped ₹ 7,71,377 crore as markets bounced back after two days of fall, tracking a broad-based rally in global equities.

Vodafone Idea users face connectivity issues

Several subscribers of Vodafone Idea on Tuesday reported poor call and data connectivity issues.

SBI cuts savings rate by 25 bps to 2.75%

The country's largest lender SBI on Tuesday said it has cut the savings rate by 0.25% to 2.75% on all deposits.

Allow liquor sale; illicit trade burden on exchequer: CIABC to 10 states

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The Confederation of Indian Alcoholic Beverage Companies (CIABC) has urged 10 states to allow sale of alcoholic beverages saying that a blanket ban during the lockdown to contain coronavirus has resulted in sale of illicit and spurious liquor while causing burden on exchequer.

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