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Biz EOD: Fitch lowers India GDP forecast; Deepak Kochhar arrested; PUBG Corp takes reins back

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

twitter-logoBusinessToday.In | September 9, 2020 | Updated 00:16 IST
Biz EOD: Fitch lowers India GDP forecast; Deepak Kochhar arrested; PUBG Corp takes reins back
Top stories from the world of business and economy

Fitch Ratings lowered its forecast for India's GDP growth for FY21, projecting a 10.5 per cent contraction of the economy from an earlier estimate of 5 per cent shrinkage in the same period. Deepak Kochhar, husband of former ICICI Bank MD and CEO Chanda Kochhar, was arrested by the Enforcement Directorate (ED) and will remain in custody till September 19 for further questioning. PUBG Corporation, following PUBG Mobile's ban in India last week, has unauthorised Tencent Games from all PUBG Mobile-related franchise and will take on all publishing responsibilities within the country. Read for more top stories from the world of business and economy:

1. Fitch Ratings revises India GDP forecast, says economy to shrink 10.5% in FY21

This comes at a time when Fitch has revised upwards, although moderately, its prediction for global GDP to 4.4 per cent now from the earlier estimated fall of 4.6 per cent.

2. Chanda Kochhar's husband Deepak Kochhar sent to ED custody till Sept 19

ICICI Bank-Videocon case: The case pertains to the illegal sanctioning of loans to Venugopal Dhoot-led Videocon Group when Chanda Kochhar was the CEO of the ICICI Bank.

3. Indian small businesses look to ramp up technical hiring amid COVID-19 crisis

According to the latest 'Currents' report on developer and SMB trends in the cloud by DigitalCloud, Indian SMBs demand for digital services is likely to outpace US demand and increasing technical talent pool.

4. PUBG Corp takes reins back: No more 'winner winner chicken dinner!' for Tencent in India

PUBG Corporation says that it has seen an overwhelming amount of support for the game from the country's player base and would like to thank the community for their passion and enthusiasm.

5. Is Reliance Industries stock in less than Rs 2,100 good investment?

Stock price of Reliance Industries has gained 72% in one year and 0.93% in the last one week. Market capitalisation of the firm stood at Rs 13,35,744 crore.

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