BUSINESS
OYO's Singapore arm secures $200M SoftBank loan
A regulatory filing showed that OYO Hotels (Singapore) Pte Ltd has secured a loan of $200 million from SB Investment Holdings (UK), an affiliate of SoftBank Vision Fund, for enhancing liquidity through the pandemic and strengthening its balance sheet.
Bumper yield of onions in 2021, Centre will create a record with 2 lakh tons buffer stock
Senior officials of the Central government say that the purpose of creating a record buffer stock of onions is to provide a fair price to the farmers for their crop as well as to take care of the consumers. Officials said that due to adequate availability of onions during the off-season, prices would remain under control. The storage of onions would also be taken care of so that its buffer stock is not wasted.
Jio to digitally transform 50 million MSMEs
Speaking at this announcement, Akash Ambani, Director, Jio commented, "Micro, small and medium businesses are the bedrock of Indian economy. Currently, in the absence of an integrated digital services offering and the knowhow to adopt advanced enterprise offerings, they are unable to leverage the power of digital technologies to run their businesses efficiently.
India's GDP growth to rebound to 11% in FY22: Crisil
The agency cited four drivers to attain such a growth -- "people learning to live with the new normal, flattening of the Covid-19 affliction curve, rollout of vaccinations, and investment-focused government spending".
Rs 1.06L Cr GST compensation shortfall released to states
Till now, 96 per cent of the total estimated GST compensation shortfall has been released to the states and UTs with Legislative Assemblies. Out of this, an amount of Rs 97,242.03 crore has been released to the states and an amount of Rs 8,861.97 crore has been released to the 3 UTs with Legislative Assemblies.
Over 1,100 firms ordered for liquidation till Dec 2020
Citing data from the Insolvency and Bankruptcy Board of India (IBBI), the Minister of State for Corporate Affairs, Anurag Thakur told the Lok Sabha that a total of 1,126 companies have been ordered for liquidation as of December 31, 2020.
Indian renewables' credit quality intact: Moody's
Although Indian renewable energy companies failed to meet generation targets in fiscal years 2019 and 2020 that ended in March 2019 and March 2020 respectively, they will be able to withstand the impact of this underperformance thanks to large and diversified portfolios, according to a report by Moody's Investors Service.
Unilever to remove 'normal' from its beauty, personal care brands
In addition to removing the word "normal", Unilever will not digitally alter a person's body shape, size, proportion or skin colour in its brand advertising, and will increase the number of advertisements portraying people from diverse groups who are under-represented.
India's banks' recovery faces asset-quality risks: Fitch Ratings
According to Fitch, India's banks reported lower impaired loans and improved profitability for the nine months ended December 2020 due to various forbearance measures and continued large write-offs. In a statement, Fitch said that India's banks - particularly state banks - remained more risk averse than in prior years, which was reflected in their weak credit growth.
Tata Motors shareholders' give nod to hive-off PV biz into new entity
In August last year, the board of directors of the company had approved the proposal as per which Tata Motors would transfer its "PV Undertaking" as a going concern, on a slump sale basis to TML Business Analytics Services, the transferee company for a lump sum consideration of Rs 9,417 crore.
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