Industry

Reserve Bank of India Governor Shaktikanta Das (File photo: AFP)
Jio had reported a profit of  ₹840 crore for the March quarter on an operating revenue of  ₹11,100 crore (Mint file)
Jio had reported a profit of 840 crore for the March quarter on an operating revenue of 11,100 crore (Mint file)

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

Prime Video penetration is 15% as compared to 13% of Netflix. (Photo: Indranil Bhoumik/Mint)
Netflix was drawn into a legal battle last year after a complaint that its first Indian original series ‘Sacred Games’ insulted former prime minister and Congress leader Rajiv Gandhi. (Reuters)
Netflix was drawn into a legal battle last year after a complaint that its first Indian original series ‘Sacred Games’ insulted former prime minister and Congress leader Rajiv Gandhi. (Reuters)

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

The Shahid Kapoor-starrer ‘Kabir Singh’ is currently the ninth highest grossing Hindi film of all time.
The Netflix logo is seen on their office in Hollywood, Los Angeles, California. (Reuters)
The Netflix logo is seen on their office in Hollywood, Los Angeles, California. (Reuters)

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

Niranjan Hiranandani, founder and managing director, Hiranandani Group
Niranjan Hiranandani, founder and managing director, Hiranandani Group

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 growth to the services sector also lost steam and grew at a much slower pace of 14.8% in May (Aniruddha Chowdhury/Mint)
Credit growth to the services sector also lost steam and grew at a much slower pace of 14.8% in May (Aniruddha Chowdhury/Mint)

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%

Greenko founder and president Mahesh Kolli (left) and CEO Anil Kumar Chalamalasetty. (Mint)
He said the BSNL has to spend 75 per cent of its revenues in paying salaries to employees, while private companies have very low employee cost.
He said the BSNL has to spend 75 per cent of its revenues in paying salaries to employees, while private companies have very low employee cost.

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

Under Rana Kapoor, the total assets of the bank grew at a compound annual growth rate of 34% in the 10 years through March 2018 (Mint file)
Under Rana Kapoor, the total assets of the bank grew at a compound annual growth rate of 34% in the 10 years through March 2018 (Mint file)

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

 (Photo: Priyanka Parashar/Mint)
Last week, Allahabad Bank had disclosed to the RBI about a fraud of  ₹1,774.82 crore by Bhushan Steel and Power. (Photo: Mint)
In FY19, India produced 207 million tonne of iron ore. (Bloomberg)
Sales data from research and analytics firm Nielsen backs the naturals trend: iStockphoto
One of the joint development projects is in the prime Bandra Kurla Complex.aniruddha chowdhury/mint
One of the joint development projects is in the prime Bandra Kurla Complex.aniruddha chowdhury/mint

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

A file photo of a Tata Motors plant. Tata Chemicals plans a factory to make lithium-ion cells, which will augment Tata Motors’ ambitions to build a sustainable EV ecosystem. (Reuters )
A file photo of a Tata Motors plant. Tata Chemicals plans a factory to make lithium-ion cells, which will augment Tata Motors’ ambitions to build a sustainable EV ecosystem. (Reuters )

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

The decision has been taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi
The decision has been taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi

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

Uniqlo becomes one of the key brands to enter India, to set up business in the country under its 100% single brand FDI. (Reuters)
Uniqlo becomes one of the key brands to enter India, to set up business in the country under its 100% single brand FDI. (Reuters)

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