Top 10 biz headlines: India staring at decade low growth, Air India sale

Record industrial slump to restrict GDP growth to 5% this year

India is set to clock economic growth of 5 per cent in the current fiscal year, sharply down from last year’s achievement of 6.8 per cent, showed the data released by the National Statistical Office (NSO). Read more

Weak private lenders many go under the hammer

In a first, the Reserve Bank of India (RBI) is planning to auction private sector banks that have been suffering from poor financial health for a prolonged period. This is part of the RBI’s plan to adopt a differentiated regulatory regime for public and private banks under the PCA framework. Read more

25 stressed power assets yet to be resolved

The power generation sector, which has the highest load of non-performing assets (NPAs), worth Rs 2 trillion, saw a minimal resolution of stressed projects in the current financial year despite the relaxed norms of the Reserve Bank of India (RBI) in this regard. Read more

Air India sale ready to take off

 
A group of ministers (GoM) on Tuesday finalised the sale of the entire government stake in state-owned Air India (AI). The alternative mechanism for AI, led by Home Minister Amit Shah, approved the Expression of Interest (EoI) for prospective suitors in the airline. Read more

Say hello to world's first 'artificial human' NEON

In the world of artificial intelligence (AI), chatbots, and personal assistants like Siri and Alexa, creating an artificial human is perhaps the Next Big Thing that the tech tsars are looking at. Read more

Rolls-Royce records best-ever sales in its 116-year history

Rolls-Royce Motor Cars delivered a historic annual sales record in 2019, with a global performance unequalled in the company’s 116-year history.  Read more

Credit at lower rate for small business soon

The Union government is working on measures to arrest declining exports. For that, it plans to come up with an export financing scheme in the next couple of weeks, to offer lower interest rates in rupee and dollar terms as well as reduced premium cost for small businesses. Read more

Banks staring at 20% more provisioning 

Banks might have to make an additional 20 per cent provisioning in the March 2020 quarter if bad debts are not resolved after the deadline to restructure such debts under the Reserve Bank of India’s June 7 circular expired on Tuesday. Read more

ICT Spending in India may Zoom to $144 

Information and communications technology (ICT) spending in India is estimated to grow at a compounded annual growth rate (CAGR) of 7.2 per cent to $144 billion by 2023, from $101 billion in 2018, according to data and analytics company GlobalData, driven by an increase in adoption of IT services across various industries, according to Economic Times

HighRadius is the first unicorn of 2020

HighRadius, an artificial intelligence (AI)-based platform facilitating back-office functions on Tuesday said it has raised $125 million at a valuation of $1 billion, becoming the latest Indian firm to join the unicorn club, LiveMint reported



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