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Biz EOD: India's GDP worst among major economies; rise in suicides due to bankruptcy; Moody's downgrades 4 state-run lenders

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

twitter-logoBusinessToday.In | September 4, 2020 | Updated 23:24 IST
Biz EOD: India's GDP worst among major economies; rise in suicides due to bankruptcy; Moody's downgrades 4 state-run lenders
Top stories from the world of business and economy

Indian economy, which saw one of the most stringent lockdowns, has shrunk the most amongst major economies on not just quarterly basis but also annualised basis. Suicides due to bankruptcy or indebtedness rose sharply by 19 per cent in 2019. Moody's Investors Service has downgraded ratings of four state-run banks - Bank of Baroda, Bank of India, Canara Bank, and Union Bank of India - citing deteriorating quality of loans following the coronavirus pandemic. Read for more top stories from the world of business and economy:

1. GDP CONTROVERSY: At -75% 'annualised' GDP, India still the worst performer

Indian economy, which saw one of the most stringent lockdowns, has shrunk the most amongst major economies on not just quarterly basis but also annualised basis.

2. Suicides due to bankruptcy jump 19% in 2019 after a fall in 2018

A total of 1,39,123 suicides were reported in the country during 2019, registering an increase of 3.4 per cent in comparison to 2018 while the rate of suicides increased by 0.2 per cent during the period.

3. Moody's downgrades Bank of Baroda, Canara Bank, 2 other state-run lenders

Moody's Investors Service has downgraded ratings of four state-run banks citing deteriorating quality of loans following the coronavirus pandemic.

4. Vodafone Idea plans to raise up to $1.5 billion through equity

Telecom operator Vodafone Idea plans to raise $1-$1.5 billion via equity sale as it works with potential strategic partners to buy stake.

5. JEE, NEET Exams to go ahead, Supreme Court rejects states' plea to review order

The Supreme Court (SC) on Friday dismissed the plea filed by six opposition-ruled states to review order to conduct JEE, NEET exams.

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