Telcos see sharp rise in data usage but minor gains in Arpu

Users consumed more data compared to pre-covid times, but within the range of existing plans, analysts say

No relief for NBFCs under debt recast plan

Industry experts believe that this could turn credit negative for NBFCs, which are already struggling to meet liquidity requirements.

One-time loan recast to ease liquidity pressure on companies: CRISIL

One-time restructuring of corporate loans, which are facing stress due to coronavirus-induced disruptions, announced by the RBI is likely to ease liquidity pressure for companies, the CRISIL report said

What Indians have been buying during coronavirus pandemic?

Spending patterns of Indian during during coronavirus pandemic reveal just how deeply concerned they are with protecting their health and fortifying their store-cupboards, warding off boredom and keeping their homes (and themselves) neat and tidy

Telco consumers will be at a disadvantage in duopoly: Sajjan Jindal

• The Indian telecom sector went through a major upheaval following the launch of Reliance Jio’s free services in 2016 leaving only two other private operators in the ecosystem
• This situation was further exacerbated by SC verdict on long pending AGR dues in October 2019

Actors, crew above 65 now allowed to work: Bombay HC

• In an interview to movie portal Film Companion, Shah had said the clause makes no sense
• Not allowing people above the age of 65 on set was part of the guidelines set out by the state government when it allowed shoots to resume in June

UCO Bank reduces MCLR by 10 bps across tenors

• The revised one-year MCLR stands at 7.40% as against 7.50% earlier, the bank said
• The three-month and six-month MCLRs have been cut to 7.05% and 7.30%, respectively

Cholamandalam Finance sees rise in demand for personal mobility vehicle loans

The company is seeing good demand for entry-level cars and two wheelers. Sales of used vehicles may see a spurt as new vehicles may be costlier because of upgraded emission norms, Cholamandalam Finance CFO Arulselvan D. said

Debt recast: RBI announces names of members of KV Kamath committee

• The Reserve Bank has constituted the Expert Committee under the chairmanship of K.V. Kamath

AU Bank forays into south India with branch launch in Bengaluru

• Another branch is going to be launched at Residency Road in Bengaluru this month
• AU Bank has 664 banking touchpoints across 12 states and one Union Territory

Telecom operators' revenue growing strongly defying coronavirus: Fitch

• Bharti's ARPU was highest in the last 12 quarters
• Robust growth will be driven by sustained higher tariffs, Fitch said

Banks will not open current accounts for those with cash credit, overdraft

• RBI said rather than opening a new current account, all transactions should be routed through Cash Credit or OverDraft account
• The move will avoid hoodwinking of the system and reduce the blind spots

Brand endorsement business  sees churn

• Several brands have also started working with big celebrities but only on a project basis for Instagram or Facebook activation campaigns
• The silver lining for big celebrities is that their social media following has grown significantly during lockdown

RBI moves to revive economy, preserve financial stability

• Shaktikanta Das leaves policy rates unchanged, but says central bank will remain vigilant on inflation
• Shaktikanta Das warned India’s real gross domestic product (GDP) growth is set to contract in 2020-21, but did not give a specific forecast

Green  light  for  one-time  restructure of stressed debt  till 31 December

• While banks could recast loans even before Thursday’s step, lenders were reluctant to use it as they had to tag the loan as bad and set aside 15% as provisions
• Industry estimates peg the total quantum of loans coming up for recast at ₹5-8 trillion, or 5-8% of the ₹101 trillion loan book.

Lessons learnt, regulator bulletproofs loan scheme

• RBI puts in place safeguards to prevent misuse of debt restructuring plan
• All resolution plans of ₹1,500 crore and more will have to be vetted by an expert panel

Now, gold jewellery to fetch you a higher loan amount

• Customers will be able to borrow up to 90% of the value of the yellow metal compared to the existing 75%
• The move will be a boon for cash-strapped borrowers

RBI’s one-time loan recast move gives India Inc a lifeline

• The plan will enable lenders to implement a resolution framework without ownership change
• Key sectors, such as MSMEs, which are facing financial stress, are poised to benefit, say experts

E-tailers test covid waters with sales day

For the first time, Amazon India conducted its prime Day sale in India before hosting it in the US market

Digital payments becomes easier: Online system for customer grievances is a must

• Any entity that is setting up a payment system in the country shall arrange the ODR system at the starting of the services, the regulator directed