World Bank cuts India's FY20 growth estimates to 5% : Bulletin: Business Today
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World Bank cuts India's FY20 growth estimates to 5%

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BusinessToday.In | January 9, 2020

World Bank cuts India's FY20 growth estimates to 5% from earlier 6%
The World Bank on Wednesday cut its forecast for India's growth for financial year 2020 to 5 per cent from the estimated growth of 6 per cent earlier. The multilateral development lender also expects India's growth to pick up slightly to 5.8 per cent in the next fiscal. World Bank's Global Economic Prospects report stated weakness in credit from non-banking financial companies (NBFCs) as one of the primary reasons behind the growth rate cut.

SBI 'guarantees' to return homebuyers' money if builders fail to deliver on time
After the government announced a Rs 25,000-crore special liquidity fund to help unfinished housing projects, the State Bank of India (SBI) has come out with a unique 'guarantee' cover for residential home buyers across ten cities of the country.SBI has offered to refund the buyer's amount (principal paid by the home buyer) invested in an under-construction project if the builder fails to handover the occupancy certificate within the agreed time period.

Govt plans ranking national highways on safety, mobility
The government is considering to assess and rate its national highways on benchmarks such as safety and mobility etc. It wants to undertake this exercise in order to improve the quality of highways network in the country, address the loopholes and adopt better practices at the drafting stage itself.

India's competition watchdog calls for more transparency on discounts by e-commerce platforms
The Competition Commission of India (CCI) has called for clear and transparent policies on discounts by e-commerce platforms, the basis of discount rates and the implications of participation/non-participation in such discount schemes.
In its report titled "Market Study on E-commerce in India", the anti-trust regulator has said that their study could not identify sources of cost savings that may fully explain the deep discounts.

Donald Trump says no U.S. troops hurt in Iran strikes, Tehran 'standing down'
U.S. President Donald Trump said on Wednesday Iranian missile strikes on bases in Iraq had not harmed any U.S. troops stationed there and damage was minimal, an outcome he said showed Tehran wanted to prevent an escalation into conflict. Iranian forces fired missiles at military bases housing U.S. troops in Iraq early on Wednesday, saying it was in retaliation for the killing in a U.S. drone strike of powerful Iranian commander Qassem Soleimani on Jan. 3.

Twitter plans to limit replies in effort to combat online abuse
Twitter Inc said it will test new features early this year that would allow users to control who can reply to their tweets, as it looks to limit abuse and harassment on the platform. Social media firms are under pressure to address harassment on their sites, which often occurs in unsolicited replies targeting women and minorities, and Twitter Chief Executive Officer Jack Dorsey has promised since 2018 to increase the "health" of public conversation.


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