India’s gig financial system goes off the rails because the coronavirus disaster deepens

Online food delivery was pegged to grow 9.5% between 2020 and 2024. However, the numbers may be revised as consumers remain cautious and refrain from ordering food online (Photo: Sharana Basappa/Mint) 4 min read . Updated: 30 Mar 2020, 12:49 AM IST Lata Jha, Suneera Tandon The immediate impact of the Covid-19 scare is likely…

Trade requires prolonged monetary yr on account of coronavirus pandemic

The auditors cited issues such as physical verifications of inventories, fixed assets, balance confirmations, fair-value measurements, and going-concern assessments Auditors and industry bodies have called for extending the financial year 2019-20 by three months, till the end of June, amid the coronavirus (Covid-19) pandemic. Industry representatives recently met officials of the Ministry of Corporate Affairs,…

Coronavirus Pandemic: Mahindra To Manufacture Face Protect From March 30

The company will kick start production at its Kandivali facility from March 30, 2020 and will manufacture 500 units to begin with and then look to ramp up production. | Published: 20 hours ago View Photos The design of the Face Shield has been sourced from Ford Motor Mahindra will start manufacturing Face Shield for…

Coronavirus pandemic: Fitch Scores downgrades long run IDRs of three NBFCs

Fitch Ratings has downgraded long-term issuer default ratings of three NBFCs on increasing macro-economic challenges following coronavirus pandemic.These non-banking financial companies are Shriram Transport Finance Company Limited (STFC), Muthoot Finance Limited (MFL) and India Infoline Finance Limited (IIFL).The long-term issuer default ratings (IDRs) of STFC and MFL have been downgraded to BB from BB+, while…