BUSINESS
RBI to conduct third open market purchases G-SAP on June 17
The Reserve Bank will purchase government securities and state development loans (SDLs) through a multi-security auction using the multiple price method. Under the tranche, up to Rs 10,000 crore of SDLs will be purchased. "The result of the auctions will be announced on the same day and successful participants should ensure availability of securities in their SGL account by 12 noon on June 18, 2021."
Covid to push air traffic recovery to FY23 end
"But the credit quality of airport operators will continue to be supported by strong business models and healthy liquidity covers amid low debt servicing requirements this fiscal. "This is based on an analysis of the top four private airports - Delhi, Mumbai, Bengaluru and Hyderabad - which accounted for 90 per cent of air passenger traffic handled by private airports in India and 50 per cent of all air traffic last fiscal."
ATM charges increased to Rs 21 from Jan 1
Customers are eligible for five free transactions (inclusive of financial and non-financial transactions) every month from their own bank ATMs. They are also eligible for free transactions (inclusive of financial and non-financial transactions) from other bank ATMs viz. three transactions in metro centres and five transactions in non-metro centres.
Eightfold AI raises $220M led by SoftBank Vision Fund 2
The company has raised more than $410 million to date, with $350 million coming in the last six months. Eightfold AI said that the funds will be used to continue the rapid growth and development of its talent intelligence platform and expand its growing partner ecosystem.
US inflation highest in 13 years but markets at record highs
The Labor Department said May's increase in consumer inflation was the largest since August 2008. The jump followed a 4.2 per cent rise for the year ended in April, WSJ said. The core price index, which excludes the often-volatile categories of food and energy, rose 3.8 per cent in May from a year before-the largest increase for that reading since June 1992.
Tata expands digital footprint with majority stake in health platform 1MG
The investment in 1MG is in line with the Tata Group's vision of creating a digital ecosystem that addresses consumer needs across categories in a unified manner, a company statement said. E-pharmacy, e-diagnostics, and teleconsultation are critical segments in the present ecosystem and have been among the fastest-growing segments in this space, as it enables access to healthcare during the pandemic, it said.
Elon Musk's Starlink plans to put faster Wi-Fi on commercial airplanes
Since 2018, SpaceX has launched nearly 1,800 Starlink satellites out of the roughly 4,400 it needs to provide global coverage of broadband internet, primarily for rural homes where fibre connections aren't available. Starlink is now being expanded to airlines, as SpaceX races to open the broadband network commercially later this year, the Verge reported.
Yes Bank board okays raising up to Rs 10K cr via debt securities
"The Board of Directors of the Bank in its meeting held on June 10, 2021, have, inter alia, considered and approved seeking shareholders' approval for borrowing/raising funds in Indian/foreign currency up to an amount of Rs 10,000 crore by issue of debt securities including but not limited to non-convertible debentures, bonds, Medium Term Note (MTN) etc," it said.
Indian labour market now in worst condition since Apr-May 2020: CMIE
Data published by CMIE showed that the unemployment rate, which reached 11.9 per cent in May 2021, continued to rise during early June. The 30-day moving average unemployment rate as of June 6, 2021, was 13 per cent.
India's agriculture exports jump to $ 41 billion despite pandemic disruptions
Commerce secretary Anup Wadhawan said that excellent growth of Agri exports in FY21 has come after it remained stagnant for the past three years (USD 38.43 billion in 2017-18, USD 38.74 billion in 2018-19 and USD 35.16 billion 2019-20).
Don't Miss
Advertisement