Top headlines: World bank on India's GDP, airport privatisation, more

World Bank cautioned India against using its tariff policy to attract the firms wanting to shift from China | Photo: Reuters
Three more airports to be leased to private firms for 50 years, says govt

The airports in Jaipur, Thiruvanthapuram and Guwahati airports will be leased to private companies for development, operation and maintenance on a public-private partnership (PPP) model for 50 years, said the government on Wednesday as it sought to open up the aviation sector, which has been hit hard by the coronavirus pandemic. Read on... 

World Bank sees higher GDP fall in India than 3.2% it projected earlier
The World Bank on Wednesday said that it is likely to project a steeper contraction of India's economy than 3.2 per cent it has forecast for the current financial year due to the increasing number of Covid-19 cases and the resultant regional lockdowns. Read more...

IPL title rights: BCCI likely to ask Dream11 to revisit bids for 2021, 2022

They have won the IPL title rights for this season but whether fantasy gaming platform Dream11 hold on to that for the next two editions will depend on how high they raise the bid as the BCCI is unwilling to settle for the current offer. Read on...

Crisil downgrades Indian Bank's tier I bonds on lower reserves position
Rating agency Crisil has downgraded public sector lender Indian Bank’s tier I bonds from “AA+” to “AA” due to lower eligible reserves position of the merged bank. Another public sector lender Allahabad Bank merged with Indian Bank from April 01, 2020. Read on...

Softbank dispatches senior execs to help Covid-19 hit Oyo: Report
SoftBank Group Corp. is dispatching two executives to help Oyo Hotels, one of the largest startups in its portfolio, right its virus-stricken business in Japan, according to people familiar with the matter. Read on...

Banks may restructure Rs 8.4 tn loans as economy sputters: India Ratings
Indian banks may restructure loans worth Rs 8.4 trillion--about 7.7 per cent of total credit in March 2020--to manage financial stress caused by the coronavirus pandemic. The loans cover corporate and non-corporates accounts that banks may recast under the Reserve Bank of India’s recent norms, according to India Ratings. Read more...

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