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Visitors walk past the logo of Kia Motors  (REUTERS)
To be sure, the first quarter is typically a lean season for loans as credit usually picks up in the latter half of the year but covid-19 has slowed it even further.
To be sure, the first quarter is typically a lean season for loans as credit usually picks up in the latter half of the year but covid-19 has slowed it even further.

Private lenders see tepid rise in loans in Q1

  • With banks cherry-picking customers during the pandemic, better asset quality and low-risk credit are being prioritised. Experts believe that this has led to a slackening growth in bank loans

The future of digital media and advertising will depend on whether these platforms manage to provide safe environment for brands and consumers
In June, large size retailers (sales of over  ₹300 crore) witnessed a degrowth of 59% and small retailers ( less than  ₹300 crore sales) witnessed a decline of 69%, the retailers association said
In June, large size retailers (sales of over 300 crore) witnessed a degrowth of 59% and small retailers ( less than 300 crore sales) witnessed a decline of 69%, the retailers association said

Retailers see 67% fall in sales during June 15-30: Survey

During the period, malls witnessed 77% degrowth (year-on-year) on account of not being allowed to open uniformly across the country, high street retail showed degrowth of 62% in business despite being allowed to open across India

BP to invest USD 70 million in India's Green Growth Equity Fund (Photo: Reuters) (Reuters)
BP to invest USD 70 million in India's Green Growth Equity Fund (Photo: Reuters) (Reuters)

BP to invest USD 70 million in India's Green Growth Equity Fund

This is to support the growing renewable energy sector in India, this fund, established in 2018, is focused on identifying, investing and supporting growth in zero-carbon and low-carbon energy solutions in the country

ECLGS provides an incentive to banks and non-bank lenders to offer additional funding facility to small borrowers by providing them 100% guarantee for any losses suffered by the lenders due to any default.
ECLGS provides an incentive to banks and non-bank lenders to offer additional funding facility to small borrowers by providing them 100% guarantee for any losses suffered by the lenders due to any default.

Banks disburse 49% of loans approved under emergency credit guarantee scheme

  • 16 private sector lenders have sanctioned 65,863.63 crore, out of which 35,757 crore has been disbursed
  • In case of the 12 state-owned banks, 20,515 or 42% of credit sanctioned has been disbursed

With its investment, BP will get the rights to co-invest in projects alongside GGEF (Reuters)
With its investment, BP will get the rights to co-invest in projects alongside GGEF (Reuters)

BP to invest $70 million in India’s Green Growth Equity Fund

  • Upon investment later this year, BP will become a limited partner in the GGEF and have representation on its advisory committee
  • BP's investment in GGEF is aimed at rapidly scaling up commercially viable low-carbon solutions as part of its ambition to become a net zero company by 2050 or sooner

For security reasons minor should have a mobile number that is different from the parent’s number. (Photo: Bloomberg)
For security reasons minor should have a mobile number that is different from the parent’s number. (Photo: Bloomberg)

Fino Payments Bank launches 'Bhavishya' savings account for minors

  • Bhavishya, a subscription-based savings account, can be opened by paying a nominal amount
  • The bank will initially introduce the Bhavishya savings account in UP, Bihar, and MP and gradually in other states

Till March 2020, Bharti Airtel had over 423 million customers across its operations
Till March 2020, Bharti Airtel had over 423 million customers across its operations

Airtel launches new 289 prepaid plan with Zee5 content for free: Details here

  • The announcement came after the telco's strategic alliance with digital entertainment platform, ZEE5, which will give its users complete access to all the ZEE5 premium content for free
  • The new 289 prepaid bundle offers unlimited calling, 1.5 GB/day, 100 SMS/day for a pack validity of 28 days

The size of Indian media and entertainment industry is about $20-25 billion with over 900 television channels, newspapers, magazines, cinema theaters and multiplexes and a host of digital as well as over-the-top online video streaming platforms.. Photo: Ramesh Pathania/Mint
The size of Indian media and entertainment industry is about $20-25 billion with over 900 television channels, newspapers, magazines, cinema theaters and multiplexes and a host of digital as well as over-the-top online video streaming platforms.. Photo: Ramesh Pathania/Mint

Media undersold itself, is overdependent on advertising: Uday Shankar

  • Letting advertisers pay for the product has become a big setback for the media industry which is looking at a bleak year as advertising plummets due to the ongoing pandemic

INR vs USD: The rupee settled higher at 75.36 per USD (Photo: Reuters)
Union I&B Minister Prakash Javadekar  (PTI)
In April, business for retailers had slumped 83% year-on-year, while in May, retail sales fell 71%. (Photo: PTI)
Photo: Bloomberg
Animation and VFX companies will likely gain traction in covid times. (Photo courtesy: Sony Pictures Animation - The Smurfs 2)
BJP spokesperson Shaina NC tweeted her thanks to Prime Minister Narendra Modi and I&B minister Prakash Javadekar for her nomination to the state broadcaster's board.
BJP spokesperson Shaina NC tweeted her thanks to Prime Minister Narendra Modi and I&B minister Prakash Javadekar for her nomination to the state broadcaster's board.

BJP's Shaina NC nominated to the board of state broadcaster Prasar Bharati

  • Shaina NC holds the positions of national spokesperson, member of the national executive council, and treasurer of BJP's Maharashtra unit
  • She is also involved in social work through two NGOs, I Love Mumbai and Giants International

Photo: Reuters
Yes Bank has raised  ₹3,200 crore by downselling its profitable loan facility in ‘Safeway Concessions’, a subsidiary of Australia’s Macquarie group to the State Bank of India. (Mint)
Yes Bank has raised 3,200 crore by downselling its profitable loan facility in ‘Safeway Concessions’, a subsidiary of Australia’s Macquarie group to the State Bank of India. (Mint)

Yes Bank may sell a part of wholesale loan book to SBI

  • The private lender is looking to raise 700 crore by downselling its exposure in WKLT
  • The equity capital will help Yes Bank increase its capital adequacy ratio which currently stands at 8.5%

Under the central government's 'Pradhan Mantri Ujjawala Yojana' LPG, gas connections were provided free of cost to women of rural areas.
Under the central government's 'Pradhan Mantri Ujjawala Yojana' LPG, gas connections were provided free of cost to women of rural areas.

Himachal first state where everyone has an LPG connection: CM

  • The state government had launched 'Himachal Grihini Suvidha Yojana' to cover the left out families in the state
  • The chief minister said as many as 2,76,243 families in the state were provided free gas connections under this scheme

Rural and overall joblessness rate climbed marginally for the second consecutive week, shows data. (Mint)
Rural and overall joblessness rate climbed marginally for the second consecutive week, shows data. (Mint)

Urban job losses on the rise again

  • The increase comes after Karnataka, Tamil Nadu, Assam, West Bengal and Maharashtra imposed fresh curbs on urban activity
  • The CMIE data shows both rural and overall joblessness rate climbed marginally for the second consecutive week

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