Category: Economy

Moody’s lessens India’s GDP growth forecast for 2020 to 2.5% from 5.3%

Moody’s
  • Moody’s Investor Service has cut its GDP growth forecast for India to 2.5 from 5.3% in 2020
  • It is mainly due to the influence of the COVID-19 pandemic and the resultant lockdown.

CRISIL lowers GDP growth forecast for fiscal 2021 to 3.5 percent

Crisil
  • CRISIL has cut its base-case Gross Domestic Product (GDP) growth forecast for fiscal 2021 to 3.5 percent from 5.2 percent expected earlier.
  • The past days have noticed global growth forecasts cut and financial markets heaving as the Covid-19 pandemic spread geometrically.

Jana SFB along with NPCI starts UPI QR-based loan installment payment facility

Jana Small Finance Bank
  • Jana Small Finance Bank (SFB) has started a UPI QR-based loan installment payment facility to its existing 40 lakh plus customers & 5crore microfinance agencies.
  • Jana Small Finance Bank is a leading digitized bank in partnership with the National Payment Corporation of India (NPCI).

UBS lowers India’s FY21 real GDP growth forecast from 5.1% to 4%

GDP
  • With over 400 positive Covid-19 cases in India resulting in lockdowns on 23rd March led UBS Securities to lower India’s growth forecast for the next financial year starting April 1, to 4 percent from the 5.1 percent estimated earlier.

Crisil drops FY21 growth to 5.2% from 5.7%

Crisil
  • Crisil downgraded India’s Gross Domestic Forecast (GDP) for fiscal 2021 to 5.2% from 5.7% due to the coronavirus pandemic.
  • As per Crisil, if the COVID 19 if not tackled by April-June 2020 globally then it may lead to a drastic slowdown.

Paytm Payments Bank to now issue Visa debit cards

Paytm Payments Bank to now issue Visa debit cards
  • Paytm Payments Bank Ltd (PPBL) has paired with Visa to issue Visa debit cards.
  • With this, Paytm will grant over 10 million new digital debit cards in FY 2020-2021 to its customers.
  • PPBL will grant Visa virtual debit cards to its customers and facilitate them to transact at all merchants accepting payments through cards.

Digital Solutions Exchange “GOKADDAL” released in India

GOKADDAL

The World’s first Digital Solutions Exchange in the cloud “GOKADDAL” has been released in India. GOKADDAL is a cloud-based solutions exchange platform which focuses on four A’s i.e. Automation, Artificial Intelligence, Analytics and Augmentative Technologies. GOKADDAL brings its customers to the right solutions with right tools and right providers and hence aids them to realize their digital transformation vision. The cloud delivery platform is expected to revolutionize the way digital solutions are sourced, delivered and managed. The Dubai based emerging technology company “GOKADDAL Technologies” is a part of Merkado group.

HP to get US$80 Mn to improve water management practices

World Bank

The Government of India, Government of Himachal Pradesh have inked a US$80 million loan agreement with the World Bank. The loan agreement aims to enhance water management practices and to improve agricultural productivity in 428 Gram Panchayats of Himachal Pradesh.

Japanese company Hakuhodo obtains AdGlobal360

Hakuhodo

Indian MarTech Company, AdGlobal360 has been obtained by Japanese company Hakuhodo Inc for an undisclosed sum. Adglobal360 is India’s fastest growing MarTech Company headquartered in Gurugram, Haryana. The MarTech Company facilitates its customers with end to end digital solutions.

CoinDCX starts crypto-referral initiative in India

CoinDCX

CoinDCX, a cryptocurrency trading platform has started its crypto-referral initiative in India. This initiative is targeted at providing an incentive for crypto adoption by rewarding Rs 500 for every new referral in addition to Rs 500 worth of bitcoin for every new user. This programme, the company believes, will be one of the largest referral programmes in the Indian crypto sector.