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Biz EOD: FMCG to see flat growth; Tata Steel's plan to turn ailing business; should you invest in high-interest FDs

BusinessToday.In     July 30, 2020

FMCG industry in India would witness a flat growth of 1 per cent in 2020, according to Nielsen Global Connect. The management of Tata Steel is left with limited options -- the same old that they have been trying to execute for at least a decade -- to turn around its sick European business. Many depositors need higher rates on their FDs but the recent crisis in PMC Bank and YES Bank suggests few of them will dare to take chance with their hard-earned money. Read for more top stories from the world of business and economy:

1. FMCG industry to see a flat growth in 2020; June shows green shoots

During the months of April-May, because of the lockdown, the traditional stores were closed for 11-12 days, and by June the closure was only for five days, thereby increasing the availability of products.

2. Limited roll-out of GST e-invoice system unlikely to serve purpose

What e-invoice will necessarily do is eliminate the need of data entry of purchase invoice by the buyer as that will be shared electronically and read by the accounting/billing system of the buyer even before the goods arrive.

3. Tata Steel and its same old plans to turn around Corus

Tata Steel wants to change its European business simpler, leaner and sustainable, and generate savings across multiple initiatives.

4. Govt mulls gold amnesty scheme for unaccounted holders

People who declare their gold holdings will have to deposit some of the legalised gold with the government for a few years, according to a proposition sent to PM Narendra Modi.

5. BT Insight: Should you invest in high interest rate FDs of small finance banks?

Senior citizens who primarily depend on FDs to manage their retirement expenses, have seen their income falling drastically within few years. When all major big banks are offering interest rates around 6 per cent the rates offered by many small finance banks look quite attractive.

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