BUSINESS
Government withdraws decision to lower small savings rate
In a decision, which would have delivered a blow to savers who depend on small savings schemes for income and social security, the Ministry of Finance on Wednesday announced the reduction in the small savings rate to 3.5 per cent for the first quarter of the financial year starting April 1, 2021.
Indian tech services revenues to hit $300-350 bn by 2025: Nasscom
This will require closer collaboration among stakeholders across the private sector, academia, and the government, said the report titled "Future of Technology Services -- Winning in this decade." The technology services sector now produces about 27 per cent of India's exports and provides livelihoods to about 44 lakh people, Nasscom said.
World trade to grow by 8% in 2021: WTO
The global trade body said prospects for a quick recovery in world trade have improved as merchandise trade expanded more rapidly than expected in the second half of last year. "World merchandise trade volume is expected to increase by 8 per cent in 2021 after falling 5.3 per cent in 2020, a smaller decline than previously estimated," the WTO said in a press release, Xinhua reported.
Tata-Mistry: Amid high valuation, SP Group's exit from Tata Sons may take time
A major contention between the two groups is the difference over the exact value of SP Group's stake in the holding company of the industrial conglomerate. Besides the simmering differences over the stake value, even the intention of a transaction to buy out the minority holding is still not clear.
Sterling & Wilson's US arm bags Rs 890cr contract
In a regulatory filing, Sterling and Wilson Solar said that the order has been received from a leading sustainable energy company and is scheduled to be commissioned by Q4 FY 2022. SWSS will be managing the entire turn-key execution for the PV project. The US market is one of the largest renewable markets globally and it has been the Company's focus to become a significant player in this very important market.
SBI raises additional $1B untied loan with JBIC
According to the lender, the loan is intended to promote 'smooth flow of funds' for the whole range of business operations of Japanese automobile manufacturers in India. SBI has signed a similar deal with JBIC in October 2020.
SpiceJet, Avenue Capital Group enter into MoU for aircraft acquisition
Accordingly, the Avenue Capital Group are specialists in the field of aircraft leasing and have identified the new planes to be ordered by SpiceJet as a unique opportunity for investment. The MoU is in respect of the financing, acquisition and sale and lease-back of 50 new planes to be ordered by the airline.
India tops in real-time digital transactions in 2020: Report
In 2020, the transaction volume share in India stood at 15.6 per cent and 22.9 per cent for instant payments and other electronic payments respectively, while paper-based payments had a considerable share of 61.4 per cent, it showed.
Tata stocks up as pledge released
Tata Sons have released the pledge on March 25 and March 26 in Tata Consultancy Services (TCS), Tata Steel, Tata Power, Tata Motors and Tata Consumer Products. These Tata Group companies informed the exchange that Tata Sons has released some pledged shares last week.
India's healthcare industry to reach $372 bn by 2022: NITI Aayog
Healthcare has become one of the largest sectors of the Indian economy, in terms of both revenue and employment, said the report released by NITI Aayog's Member, Health, V.K. Paul, CEO Amitabh Kant, and Additional Secretary Rakesh Sarwal.
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