Business Highlights

Following are the top business stories at 1900 hours: DEL34 BIZ-LD VIRUS-RBI RBI announces more measures to deal with economic fallout of Covid-19 Mumbai: The RBI on Wednesday provided more time to exporters to collect payment of goods and software sold to overseas buyers and repatriate that to India as the central bank announced more measures to deal with the economic fallout of Covid-19 pandemic. DEL129 BIZ-LD GST-COLLECTION GST mop-up slips below Rs 1 lakh cr-mark, March collection at Rs 97,597 cr New Delhi: GST collections in March slipped below the psychological Rs 1 lakh crore-mark for the first time in four months to Rs 97,597 crore as COVID-19 lockdown that shut most businesses compounded tax collections in an already sluggish economy. DCM39 BIZ-VIRUS-BANKS EMI Loan moratorium: Most pvt banks go for "opt-in" option Mumbai: Most of the private sector lenders have decided to go for the "opt-in" option on loan repayment moratorium, putting the onus on the customer to take the initiative of informing the bank of their choice to go for the three-month breather offered by the Reserve Bank of India. DEL80 BIZ-LD STOCKS Sensex starts FY21 with 1,203-pt plunge; bank, IT stocks hammered Mumbai: Markets began the new fiscal with yet another bruising selloff on Wednesday as global sentiment remained grim due to the Covid-19 pandemic. DCM12 BIZ-PNB-BANK MERGER All branches of Oriental Bank of Commerce, United Bank of India start functioning as PNB branches New Delhi: State-owned Punjab National bank on Wednesday said all nation-wide branches of United Bank of India and Oriental Bank of Commerce has started functioning as PNB branches. DCM41 BIZ-LPG Non-subsidised cooking gas price cut by Rs 61.5 per cylinder New Delhi: The price of non-subsidised LPG, or market-priced cooking gas, on Wednesday was cut by Rs 61.5 per cylinder in line with a fall in benchmark international rates.

DEL71 BIZ-VIRUS-NITI AAYOG MEMBER India well prepared, coronavirus impact will be 'much smaller and manageable': Niti Aayog member New Delhi: The impact of the coronavirus outbreak in India will be "much smaller and manageable" as the big decision of nationwide lockdown and travel restrictions were put in place much before other countries, a Niti Aayog member said on Wednesday DEL29 BIZ-VIRUS-TRUCK DRIVER SHORTAGE Lockdown: Only 5 pc of 90 lakh trucks operating; driver, labour shortage hampering logistics: AIMTC New Delhi: Only 5 per cent of around 90 lakh trucks across India are plying on the roads at the moment due to shortage of drivers and labourers at loading and unloading points following the nationwide lockdown, thereby severely hampering transportation of goods, according to truckers body AIMTC. DEL53 BIZ-VIRUS-AIR INDIA-BIDS Govt may further extend deadline to bid for Air India New Delhi: The government is likely to extend the April 30 deadline to bid for Air India as the COVID-19 fallout has disrupted economic activities globally, an official has said.

DCM24BIZ-VIRUS LD-WIPRO Wipro, Azim Premji Foundation commit Rs 1,125 cr to tackle COVID-19 crisis New Delhi: Wipro Ltd, Wipro Enterprises Ltd and Azim Premji Foundation have together committed Rs 1,125 crore towards tackling the unprecedented health and humanitarian crisis arising from the COVID-19 outbreak in the country. DEL104 BIZ-STOCKS-WEALTH Investor wealth erodes Rs 3.20 lakh cr on first trade of FY21 as markets tumble New Delhi: Investor wealth dropped Rs 3,20,633.05 crore on the first day of the new financial year as selling resumed in the equity market amid rising cases of COVID-19. DEL105 BIZ-VIRUS-FOODGRAINS States can buy fixed quota of grains directly from FCI depots without bidding under OMSS: Centre New Delhi: To meet additional requirements of foodgrains amid COVID-19 outbreak, the Centre on Wednesday allowed states to directly purchase a fixed quota of wheat and rice from state-run FCI depots without participating in an e-auction under the open market sale scheme (OMSS).

DCM73 BIZ-VIRUS-FMCG-LD RETAIL Retailers say enough stock if there is no panic buying; put restrictions on purchase quantity New Delhi: Retailers on Wednesday said there is enough stock of essential items and groceries if people do not resort to panic buying, while some organised players put caps on items that a consumer can purchase during the lockdown. DCM36 BIZ-AUTO-SALES-LD MARUTI Maruti Suzuki reports 16 pc dip in sales in 2019-20 New Delhi: The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday reported 16.1 per cent dip in total sales in 2019-20 at 15,63,297 units as slowdown and coronavirus pandemic took its toll on the auto sector.

DCM76 BIZ-VIRUS POWER CONSUMPTION India's power consumption shrinks 9.24 pc at 100.13 BU in March New Delhi: India's power consumption fell 9.24 per cent to 100.13 billion units in March compared to 110.32 billion units in the year-ago period mainly on account of lower commercial and industrial demand due to the lockdown imposed to fight COVID-19. PTI SHW SHW.