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Biz EOD: MSMEs fear bank harassment; self-reliance fillip for defence sector; RBI may announce further rate cuts

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

twitter-logoBusinessToday.In | August 27, 2020 | Updated 23:29 IST
Biz EOD: MSMEs fear bank harassment; self-reliance fillip for defence sector; RBI may announce further rate cuts
Top stories from the world of business and economy

Micro, small and medium enterprises (MSMEs) fear banks will cut their cash credit limit aggravating financial trouble. Indian private sector defence and aerospace companies should invest in long-term cutting-edge technologies in research and development to match global industry standards, said Union Defence Minister Rajnath Singh. Reserve Bank of India (RBI) Governor Shaktikanta Das hinted that the central bank may announce further rate cuts or policy measures, if needed, to tackle the ongoing coronavirus crisis. Read for more top stories from the world of business and economy:

1) MSMEs fear bank harassment, appeal to RBI for easing of credit rules

MSMEs say the situation will get worse if the government fails to intervene and boost industrial activities.

2) GST Council proposes special RBI window to fund revenue shortfall, states ask for 7 days to decide

Finance Minister Nirmala Sitharaman said the states have asked the Centre to provide full details of the two options by tomorrow and they will get back with their decisions in 7 days.

3) Defence sector should focus on self-reliance and 'making for the world': Rajnath Singh

Once the ongoing policy reforms and roadmap for greater industry participation is in place, there will be greater visibility on-demand requirements for the industry, said Union Defence Minister Rajnath Singh.

4) Shaktikanta Das hints RBI may announce further rate cuts, measures to tackle COVID-19

Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday hinted that the central bank may announce further rate cuts or policy measures, if needed, to tackle the ongoing coronavirus crisis.

5) 34 IPOs worth Rs 33,516 awaited as Sensex jumps 53% from March lows

Data sourced from Prime Database shows that initial public offerings (IPOs) worth Rs 33,516 crore of 34 companies have received approvals. Of these, seven companies have received approvals after the government introduced a nationwide lockdown.

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