Events covered –

Sale of UK long product plant by Tata Steel. Meanwhile, the process for sale of second package also begins. That would leave Tata Steel with only the Netherlands operations Unit, which is EBITDA  positive.

Finance ministry to replace interest subvention with interest subsidy.

  • Jewelers’ call of their strike after more than six weeks. A bold move by the govt by not buckling-in to the pressure.
  • IMD predicts above average monsoon.
  • IMF World Economic Outlook puts global growth at 3.2% for 2016, a 0.2% lower than its Jan’16 projection.
  • IIP  grows by 2% reversing 3 month trend.
  • Prime minister launches electronic platform integrating agriculture mandis across states.

Other events –

  • Unified Payments Interface (UPI), the app to enable money transaction through mobile, launched, eliminating the need for IFS Code etc. However, it would some more time for customers to be able to use it.
  • Supreme Court to examine confidentiality of Banks’ NPAs.
  • Inflation (CPI) records a decline to 4.83% in March, against 5.26% in Feb. Stands at six month low now.
  • Water train reaches Latur. A unique move, but long way to go.


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