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Biz EOD: Govt to borrow with ease; auto industry to recover in 6 yrs; Jio Platforms' 5th deal

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

twitter-logo BusinessToday.In   New Delhi     Last Updated: May 22, 2020  | 23:59 IST
Biz EOD: Govt to borrow with ease; auto industry to recover in 6 yrs; Jio Platforms' 5th deal
Top stories from the world of business and economy

The beneficiaries of RBI's repo rate cut are typically corporate and individual borrowers, but this time around the move is aimed at easing the pressure on the government. Auto component manufacturer Bosch said the Indian automobile industry may take up to six years to get back to peak volume levels of 2018-19. Jio Platforms Ltd announced its fifth stake sale deal to sell 2.32 per cent stake to private equity giant KKR for Rs 11,367 crore. Read for more top stories from the world of business and economy:

1. RBI repo rate cut: Make no mistake - this time it's for government to borrow cheap!

The government has tried to keep deficit financing at minimum despite demand for higher stimulus from economists, states, opposition parties and global experts.

2. India's auto industry to take 6 years to recover: Bosch

After the Rs 20 lakh crore Atma Nirbhar Bharat stimulus package largely ignored the auto industry, the sector is now expecting some relief by way of GST reduction and scrappage policy.

3. Jio Platforms stake sales, rights issue to cut RIL debt by Rs 1 lakh crore in Q1

Jio Platforms Ltd (JPL) on Friday announced its fifth stake sale deal to sell 2.32 per cent stake to private equity giant KKR for Rs 11,367 crore.

4. Not another Franklin Templeton - 2 debt funds suspended by ABSL MF for new investors

The investors who were part of the suspended schemes at the time of sidepocketing will get their dues as and when recoveries are made in the segregated portfolio.

5. Lockdown 4.0: Labour Ministry receives up to 14,000 complaints of job losses, pay cuts

While there has been massive retrenchment across sectors, a large number of workers have complained of part-payment or non-payment of wages.

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