The industry body of MSMEs has asked the government to ensure they have cash in hand as they are facing a major liquidity crisis. JSW Steel's Rs 19,700-crore acquisition plan for Bhushan Power and Steel (BPSL) may hit another roadblock as the commodity market conditions are going haywire in the country. The winner in the entertainment industry during the lockdown will be the OTT platforms such as ZEE5, Hotstar, Amazon Prime Video and many others. Read for more top stories from the world of business and economy:
SBI has initiated process to defer EMIs and interest on term loan falling due between March 1 to May 31 and extend repayment period by three months.
JSW Steel was supposed to make payment before March 16 for the acquisition, but it has been delayed as the former promoter Sanjay Singhal filed a petition against the takeover at the Supreme Court.
Tarun Katial, CEO, ZEE5 India, says that the OTT platform's premium subscribers have gone up by over 100 per cent.
The central bank has announced releasing up to Rs 1,00,000 crore through long term repo auction. There is already a scramble for pouncing on the cheap money instead of chasing deposits.