India's unemployment rate rises to 7.7% in December: CMIE : Bulletin: Business Today
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India's unemployment rate rises to 7.7% in December: CMIE

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January 3, 2020

India's unemployment rate rises to 7.7% in December: CMIE

India's unemployment rate increased to 7.7 per cent in December, slightly higher than 7.48 per cent reported in the previous month, according to data released by think-tank Centre for Monitoring Indian Economy (CMIE) on Thursday. In November, the unemployment rate had fallen nearly 1 per cent to 7.48 per cent compared to a three-year high

Auto slowdown: Bosch's India unit to cut workforce by 'a couple of thousands'

In wake of the ongoing slump in the auto sector, world's largest auto-part supplier Bosch Ltd will cut its India workforce by "a couple of thousands" in the next four years, Soumitra Bhattacharya, Bosch India Managing Director, has said. The company would let go around 10 per cent of the total workforce of 3,700 white-collar employees in India as part of the company's strategy to transform amidst the downturn in the automotive sector.

DMRC offers free Wi-Fi on Delhi Metro airport line

You will now be able to access free Wi-Fi on the airport line of the Delhi metro, i.e. the line from New Delhi to Dwarka Sector 21. Delhi Metro Rail Corporation or DMRC has launched a free high-speed internet facility on this line. DMRC MD Mangu Singh launched the free Wi-Fi facility at the Shivaji Stadium metro station. Passengers will have to log in to the METROWIFI_FREE network in order to be able to access the free high-speed internet network.

HDFC gets Irdai nod to acquire majority stake in Apollo Munich Health Insurance

Housing Development Finance Corporation Ltd (HDFC) has received approval from Insurance Regulatory and Development Authority of India (Irdai) to acquire a majority shareholding in Apollo Munich Health Insurance. The mortgage lender and its subsidiary HDFC ERGO have received all requisite approvals to acquire 51.2 per cent stake in Apollo Munich Health Insurance, HDFC said in filing to exchanges.

Electricity supply down 1.1% in December, declines for fifth straight month

India's electricity supply fell for the fifth straight month in December, provisional government data showed, potentially reflecting sluggish industrial activity amid an overall economic slowdown. Power supply fell to 101.92 billion units in December, down 1.1% from 103.04 billion units last year.

Tata Sons vs Cyrus Mistry: Boardroom battle goes to Supreme Court

Tata Sons on Thursday knocked the Supreme Court's door challenging the National Company Law Appellate Tribunal (NCLAT) order reinstating Cyrus Mistry as the executive chairman of the holding company. While NCLAT ruled in Mistry's favour last month, Tata Sons had four weeks to challenge the NCLAT order. It has now asked the Supreme Court to put a stay on the appointment order on six grounds.

December factory activity picks up to 7-month high but business optimism weakens

India's factory activity expanded at its fastest pace in seven months in December as a jump in new orders prompted companies to ramp up production, a private business survey showed on Thursday. The uptick in Indian manufacturing sector growth signaled by the latest PMI results will be welcomed by policymakers, particularly given concerning results observed in October.



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