India pushes ‘last-mile’ funds for cash-starved shadow banks

New Delhi: India’s central bank announced new measures to encourage lending to the country’s cash-starved borrowers by injecting $6.5 billion into the banking system, ordering lenders to freeze dividends and easing rules on bad loans. In another effort to strengthen the financial system’s response to the coronavirus-fuelled slowdown, Reserve Bank of India Governor Shaktikanta Das […]

Coronavirus: Chinese economy shrinks 6.8% in first quarter

Beijing: China’s economy contracted for the first time in nearly three decades last quarter as drastic measures to contain the coronavirus pandemic brought activity to a standstill, official data showed Friday. Gross domestic product shrank 6.8 per cent in the January-March quarter from the same period a year earlier, according to figures released by the […]