Shaktikanta Das meets PSB heads, reiterates call for faster transmission

• RBI Governor discussed challenges in the sector with the heads of state-run banks
• The meeting also covered recent initiatives taken to address issues in the NBFC sector

Jio pips Airtel to become No. 2 by user base

• As of May end, Reliance Jio had 322.98 million users, against Bharti Airtel’s 320.38 million users
• Vodafone Idea continues in the top position with 387.55 million users

79% smartphone users hooked to OTT apps like Hotstar, Netflix, Amazon Prime

• Hotstar is the most-penetrated OTT entertainment app
• Amazon Prime Video has slightly better penetration than Netflix in India

Should Netflix be censored? Govt to decide soon

• The government will take a decision on censoring OTT platforms like Netflix after consultation with stakeholders
• New concerns are being raised on films being shown on Netflix, Minister Prakash Javadekar said

‘Kabir Singh’ runs strong at box office despite row over misogynistic content

• The Arjun Reddy remake has reported worldwide box office collections of ₹350 crore
• Its earnings are higher than Bharat ( ₹304 crore) and Uri: The Surgical Strike ( ₹338 crore)

Netflix's challenge in India: Cheaper rivals

• The intense competition could derail Chief Executive Officer Reed Hastings’s goal of 100 million customers in India
• The world’s second-most populous country is a priority for the streaming service, which is effectively blocked in China

Hiranandani to invest ₹1000 crore to set up first data centre

• Being built over 18 acre land parcel, the company’s first data centre park called ‘Yotta’ would comprise 5 buildings with a total size of around 30 lakh sqft
• The growth of e-commerce firms have expanded the need of having large organised data centres

Credit, deposit growth manage to remain in double- digits

• Personal loan growth slowed to 16.9% in May from 18.6 percent in the year ago period
• On a year-on-year basis as of May, non-food credit increased 11.4% from 11.1%

Power tariff regulator stays Andhra Pradesh's decision to slash Greenko's PPA

• Greenko had appealed against AP’s decision to slash tariff from Rs3.74 per kWh to Rs2.44 per kWh retrospectively from Oct. 27, 2017
• Aptel directs AP’s power distribution utility to continue making payments to Greenko at the earlier rate of Rs3.74 per kWh

Govt considering capital infusion in BSNL

• Ravi Shankar Prasad said the government has inherited legacy issues and steps are being taken to make BSNL more competitive
• Sanjay Shamrao Bhotre said the government is considering capital infusion, including equity infusion in the public sector telecom company

Rana Kapoor loses $1 billion as Yes Bank shares slump 78% since August

• Kapoor owns just over 10% of Yes Bank shares, including through his two holding companies, Yes Capital (India) Pvt and Morgan Credits Pvt
• Last year, he pledged never to sell his shares, vowing to pass them on to his daughters

L&T Hydrocarbon Engineering bags over ₹7,000 crore order from Saudi Aramco

• L&T did not provide the exact value of the contract, but specified that as per its classification, the mega project is in the range of over ₹7,000 crore
• Larsen and Toubro was trading 0.53% lower at ₹1,447.60 apiece on BSE

Allahabad Bank reports about ₹688 crore fraud by SEL Manufacturing

• The account has also been declared as fraud and reported to RBI
• NCLT proceedings are in the process for the matter

If mine auctions are delayed, iron ore prices will rise by over 30%: Crisil

• In FY19, India produced 207 million tonne of iron ore, 65-70% of which was by merchant miners and the rest by captive steelmakers
• Crisil has estimated that if the auctions are conducted in a phased manner from the third quarter of this fiscal, the supply disruption shall be limited

Banks approach Delhi HC against ₹38,000 crore service tax demand

• The banks claim is that the government has taken an arbitrary decision on the service tax
• Next date of hearing is on 14 November

Opinion: Naturals trend in personal care is here to stay

Personal care brands are clearly moving where the consumer is going

Prestige to sign up for 2 prime office project deals in Mumbai

• The firm is in talks with DB Realty to enter into a joint development pact for two of the latter’s projects
• Prestige Group has been looking to enter Mumbai’s office market for several years and has explored similar deals in the past

Tata Chemicals may make lithium-ion cells

• Firm said to have acquired land in Dholera town of Gujarat for the factory
• Tata Chemicals will play a key role in Tata Motors’ plan to devise an EV ecosystem in India

Govt approves doubling of train track connecting Guwahati with New Bongaigaon

• The line capacity utilisation of the section between New Bongaigaon and Agthori via Rangiya is more than 100%
• The project will ease the growing through traffic into the North East region and saving due to faster mobility through the proposed double line section

Japan’s fashion retailer Uniqlo to open 3 stores in India

• Uniqlo to open its first store in Delhi in October
• The store launch in India will help fuel Uniqlo’s global strategy as it tries to beat Spain’s Zara and Swedish H&M to sell more apparel globally