Government to infuse Rs 20,000 crore in state-run banks
The government sought parliamentary approval to infuse ₹ 20,000 crore in state run banks in today’s Lok Sabha Session. The pandemic’s impact has pushed up the ratio of gross non-performing to almost 12% from 8.5 % in March 2020.
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Infosys to buy Czech firm for 30 mn euros.
IT firm Infosys has signed a definitive agreement to acquire GuideVision, an enterprise service management consultancy for up to 30 million euros including earn-out and bonuses. The acquisition will be carried under Infy Consulting Company Ltd, a step-down subsidiary of Infosys Ltd, a regulatory filing said.
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Govt asks corporates to clear MSME dues on priority
Micro, Small and Medium Enterprises, MSME,In a statement the Ministry has asked the private sector enterprises of the country to take measures for release of payment of MSME dues on priority.The ministry has also urged corporates to join Trade Receivables Discounting System (TReDS) and start transacting.
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Japan’s Suga wins party leadership race
Japan’s former PM has resigned citing health reasons. Yoshihide Suga, is the new Prime Minister designate of Japan. He has chief cabinet secretary for almost eight years and is currently serving as president of the Liberal Democratic Party
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Banking Regulation (Amendment) Bill introduced in Lok Sabha
The government has introduced the Banking Regulation (Amendment ) Bill in Lok Sabha, which seeks to bring cooperative banks on par with developments in the banking sector and implement some changes to improve efficiency in the banking system.The Act regulates the functioning of banks and provides details on various aspects such as licensing, management, and operations of banks.
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India’s oil import bill declines by two-third on fall in international prices
India’s crude oil import bill fell to a third in the first four months of the current fiscal after international oil rates nosedived on demand evaporating due to the outbreak of coronavirus pandemic and ensuing lockdowns, Petroleum Minister Dharmendra Pradhan said on Monday.(Source:MoneyControl)
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Amazon to hire 100,000 in wake of shopping surge in US and Canada
The recent surge in shopping and ecommerce has had logistics companies across the world going on a hiring spree. Amazon is hiring another 100,000 workers in the US and Canada, in its fourth such recruitment spree this year. Amazon had a similar hiring drive in March this year where it also increased hourly wages by $2 per hour. The recruitment is mostly for root level workers like delivery personnel and warehouse workers.
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August WPI inflation up at 0.16% after being in negative zone for 4 months
The Department for Promotion of Industry and Internal Trade stated that the Wholesale price-based inflation(WPI) jumped to 0.16 per cent in August as compared to -0.58 per cent in July, 2020. The figures returned to positive after being negative for four straight months.The Wholesale Price Index (WPI) are released on the 14th of every month with a time lag of two weeks of the reference month.
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GST compensation of Rs 1.51 lakh crore due to states. Maharashtra Leads.
The GST collection during April-August declined on account of COVID-19 induced lockdown, and the compensation due to states stands at over ₹1.51 lakh crore, Minister of State for Finance Anurag Singh Thakur said in Lok Sabha on Monday. he provisional GST compensation due to states/UTs for 2020-21 was highest for Maharashtra at Rs 22,485 crore, followed by Karnataka (Rs 13,763 crore) and Uttar Pradesh (Rs 11,742 crore)
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Dream11 parent secures $225 million in fresh funding
Dream11 has raised fresh capital in an investment round worth $225 million. Tiger Global, TPG Tech Adjacencies, Indian private equity firm ChrysCapital and Footpath Ventures led the round.The 12-year old startup had also recently become the title sponsor for the Indian Premier League this year.
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