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Biz EOD: SBI's focus areas post-COVID; HUL to shift supply from China; TikTok CEO calls ban unfortunate

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

twitter-logoBusinessToday.In | July 1, 2020 | Updated 21:35 IST
Biz EOD: SBI's focus areas post-COVID; HUL to shift supply from China; TikTok CEO calls ban unfortunate
Top stories from the world of business and economy

State Bank of India (SBI), the largest bank in the country, is in discussion with dozens of new-age NBFCs, fintech and traditional NBFCs for co-lending. Hindustan Unilever (HUL) has begun discussions on possible alternatives to raw materials it imports from China in its bid to help the country become self-reliant. Kevin Mayer, CEO of TikTok, in an open letter, said the company is working with all stakeholders to address the related concerns after the app was banned in India. Read for more top stories from the world of business and economy:

1. From co-lending to reskilling workforce, SBI's top 5 focus areas post-COVID

The bank is in discussion with dozens of new age NBFCs, fintechs and traditional NBFCs for co-lending. Over half a dozen NBFCs have already been onboarded where the bank is lending based on the lead generated by these new players.

2. Coronavirus fallout: HUL aims to shift supply from China; in talks for alternatives

Speaking to shareholder at HUL's 87th annual general meeting, Mehta further stated that the company has initiated talks on the matter as it imports raw materials and packaging materials worth over Rs 400 crore from China.

3. TikTok CEO Kevin Mayer calls ban unfortunate; says employees well-being top priority

Mayer, in his message, said that the company would do anything in its power to restore the positive experiences and opportunities that they can be proud of.

4. GST collection jumps 46% to Rs 90,917 crore in June compared to May; declines 9% YoY

The spike in June could partly be due to the fact that returns of the month of April, March as well as some returns of February were filed in the month of June 2020.

5. Unemployment rate falls to 10.99% in June from 23.48% in May: CMIE

Haryana has highest unemployment rate of 33.6 per cent, followed by Tripura at 21.3 per cent and Jharkhand at 21 per cent.

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