News Analysis India

Tag: vigorous

  • Economic recovery more vigorous than expected, need to monitor demand stability: RBI

    Reserve Bank Governor Shaktikanta Das said on Thursday that the country’s economy has recovered more vigorously than expected after being affected by the initial outbreak of the corona virus epidemic, but the demand stability needs to be monitored after the festive season. .

    He said at the annual function of the Indian Foreign Exchange Regulations Association that there is a risk of decreasing growth in the whole world including India. Governor Das said that after the festive season, we need to keep an eye on the stability of the demand and market expectations regarding the Corona vaccine.

    Das said that RBI is committed to maintain the functioning of financial markets and work will be done to reduce any downside risk. Regarding capital account convertibility, he said that the approach would continue to see it as a process rather than an event.

  • Zomato launches new service, will not take any commission from restaurants

    Restaurant-to-home food service Zomato said on Wednesday that it has offered to deliver orders at zero commission to partner restaurants to help bring the industry back on track.

    Online food delivery company Jomato said in a blog post that the catering business is now gaining momentum after the initial setback due to the epidemic, but the growth is not uniform. “In our last mid-Kovid-19 report, we wrote about how the catering order business is making a strong comeback after the initial setback due to the epidemic.” Today we are at 110 per cent of the GMV (gross goods value) before Kovid-19. ”

    Jomato said that according to the World Health Organization (WHO) the food supply is safe and people should not be afraid of food packaging. The blog post further stated, “We have delivered more than 13 crore orders since the start of the lockdown in March and no cases of Kovid-19 infection have come to light through catering and packing.”

    It further said that the signs are encouraging, but this growth is not uniform and the food service industry is still not fully back on track. According to the blog post, help is still needed to bring this area back to the pre-Kovid-19 level and Jomato is making every effort in this direction.