RBI takes Rs 12,904 crore COVID-19 hit due to risk averse banks : Bulletin: Business Today
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RBI takes Rs 12,904 crore COVID-19 hit due to risk averse banks

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BusinessToday.In | August 26, 2020

Cutting consolidated debt to zero in 3 years top priority: Tata Motors Chairman N Chandrasekaran

Tata Motors Chairman N Chandrasekaran has said Tata Motors group will cut its consolidated debt to zero in the next three years. During the 75th shareholders' meet on Tuesday, Chandrasekaran said improving product portfolio and cutting debt to zero will be the top priority for the company in the  near future.

RBI takes Rs 12,904 crore COVID-19 hit due to risk averse banks

The RBI's annual report has revealed that its liquidity-absorbing operations in the banking system have resulted in a net interest outgo of Rs 12,904 crore in 2019-20. The huge surplus liquidity created by the Reserve Bank of India (RBI) over the last one year to prop up the economy is probably hurting it more than risk-averse commercial banks.

Government extends deadline to submit bids for Air India by two months

The government has extended by two months the deadline for placing bids for Air India till October 30 as the COVID-19 fallout has disrupted economic activity globally. The process of stake sale in the national carrier was initiated on January 27. This is the fourth extension given by the government for putting in bids.

Tim Cook who introduced Apple Watch and Airpods, completes 9 years as Apple CEO

Tim Cook has completed 9 years as the CEO of tech giant Apple. Former late founder of Apple, Steve Jobs handed over Cook his responsibilities saying that Apple's "brightest and most innovative days are ahead of it." Apple was worth under $400 billion when Cook joined as CEO. It is worth five times more than that today. Last week, the Cupertino-based California company became the first publicly listed US company to reach a market value of over $2 trillion.

Only EVs to deliver Flipkart orders by 2030; pilot-run startsE-commerce giant Flipkart has joined global firms in their sustainability pledge by deciding to completely switch to electric vehicle (EV) across its supply chain by 2030. Over the next 10 years, Flipkart will integrate electric vehicles in phased manner in its entire fleet (directly owned or leased corporate fleets) including the last mile delivery.

India's COVID-19 death toll inches towards 60,000-mark; 24.04 lakh patients cured

India's coronavirus death toll is inching towards 60,000-mark, while the tally has climbed to more than 31 lakh on Monday. At least 848 people have succumbed to the disease in a span of 24 hours, taking the toll to 58,390.

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