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Biz EOD: Mudra loan NPAs rise; 7 lakh govt jobs vacant; Star India reports Rs 1,216 crore loss

BusinessToday.In     November 27, 2019

The Mudra loan chickens are finally coming home to roost for the Indian banking industry after almost five years of its launch. There were nearly seven lakh job vacancies in different government departments as on March 2018, reveals Union Ministry of Personnel before the Rajya Sabha. Star India, country's leading media conglomerate, reported a net loss of Rs 1,216 crore for the financial year ended March 31, 2019. Read for more top stories from the world of business and economy:

1. Mudra loans report card: PNB NPAs at 23%, other banks' above 20%

High level of slippages is making the Reserve Bank of India jittery. RBI Governor Shaktikanta Das had earlier advised banks to be cautious and prudent in lending to small borrowers.

2. Why RCom creditors rejected Anil Ambani's resignation

The committee of creditors (CoC) has rejected the resignations saying these cannot be accepted. It asked the directors, including Ambani, to perform their duties until the insolvency proceedings are concluded.

3. Nearly 7 lakh govt jobs remain vacant; 2.5 lakh positions empty in Railways

The biggest Central government employer Indian Railways had 2,59,369 job vacancies, Defence had 1,87,054 vacancies and Home Affairs had 72,365 vacancies, according to the data.

4. Difficult to run Air India if we don't sell it: Aviation Minister HS Puri

The government is aiming to start the complete sale of the airline by March, Finance Minister Nirmala Sitharaman had stated earlier this month.

5. Star India reports Rs 1,216 crore loss in FY19; IPL expenses touch Rs 4,000 crore

Star India loss was also attributed to its digital streaming platform Hotstar, which posted a net loss of Rs 558.38 crore on revenue of Rs 1,112.74 crore for financial year 2018-19.

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