After mortgage lender HDFC Ltd and private sector ICICI Bank, the People’s Bank of China has now made equity investment in one of India’s largest NBFCs, Bajaj Finance. In a paper on banking reforms, former RBI Governor Raghuram Rajan and former RBI Deputy Governor Viral Acharya have explained why the Indian banking sector is in shambles currently. Defending the farm bills that were passed in the Rajya Sabha, PM Modi said that it will change the economic conditions of farmers. Read for more top stories from the world of business and economy:
1. After HDFC and ICICI Bank, the People’s Bank of China now invests in Bajaj Finance
Chinese central bank’s investment in Bajaj’s financial services arm is less than 1.0 per cent, and hence not reflected in the shareholding pattern of the company filed with the stock exchanges.
2. ‘Grand bargains’ 50 years ago to lazy lending: Rajan, Acharya explain why Indian banking is in shambles
With limited lending options and country’s need for infrastructure, PSBs are increasingly choosing to lend huge amounts to large projects, especially in infrastructure, said Rajan and Acharya.
3. E-healthcare platform Medtalks sees 10,000% growth in 6 months
The tech-driven platform that offers Continuous Medical Education (CME) and Continuing Professional Development (CPD) programmes for healthcare professionals, trained over 100,000 healthcare professionals over the last 6 months.
4. Logistics startups pin hopes on festive season; see COVD-19 vaccine delivery as opportunity
Badly hit by the coronavirus lockdown, multiple logistics startups are eagerly waiting for the festive season for demand revival.
5. PM Modi defends farm bills once again; says will change economic condition of farmers
Farm bills row: This change in farming sector is the need of the present hour and our government has brought this reform for farmers, said PM Modi.