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Biz EOD: Govt pegs 5% GDP growth for FY20; SC orders DoT to refund RCom; Gold price drops

BusinessToday.In     January 7, 2020

India's nominal GDP is expected to grow by 5 per cent in the financial year 2019-20 compared to the growth rate of 6.8 per cent last year. The Supreme Court has directed the Department of Telecom to refund the bank guarantee worth Rs 104 crore to Anil Ambani's RCom. Gold prices in the domestic market slipped 2.1% off yesterday's highs, tracking the overseas trend, as global investors moved over geopolitical concerns. Read for more top stories from the world of business and economy:

1. Govt's advance estimate pegs GDP growth at 5% for FY20

As per the data released by the Ministry of Statistics and Programme Implementation, the real GDP is expected to grow by 5 per cent in financial year 2019-20 against 6.8 per cent last year.

2. Air India sale: Amit Shah-led GoM approves draft for inviting bids

The GoM also approved the share purchase agreement, under which the airline's total debt of around Rs 60,000 crore would be transferred to a special purpose vehicle.

3. SC orders DoT to refund Rs 104 crore bank guarantee to Anil Ambani's RCom

This amount is the balance of the bank guarantee for spectrum, to be paid to R-Com by Centre.

4. Gold price slips from 7-yr high as investors shrug off US-Iran tension

Hit by a pullback in rupee and easing crude prices, Gold 05 Feb 2020 Futures were trading near 40,203 per 10 gm on Tuesday. Yesterday, Gold futures for 24 karats in Delhi, spiked to a record Rs 41,400 per 10 gm.

5. ESAF Small Finance Bank files draft prospectus with Sebi for Rs 976 crore IPO

The bank is likely to consider a pre-IPO placement of up to Rs 300 crore.

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