Indian

Household debt may have declined to 34% in Q1 FY22: SBI report

Sep 15, 2021

In absolute numbers, the household debt has increased to Rs 75 lakh crore in the first quarter of FY22 from Rs 73.59 lakh crore in FY21, it said.

It said the recently released India Debt & Investment Survey (AIDIS) report for 2018 showed an increase in the average amount of debt among rural as well as urban households between 2012 and 2018.

The average amount of debt increased by 84 per cent and 42 per cent, respectively, for rural and urban households for the six-year period ended 2018, the SBI research report said.

Depression crosses Odisha, hits over 20 lakh people and leaves 4 dead

Sep 15, 2021

The calamity has also caused severe damage to about 100 roads and left 25 villages marooned. As per preliminary reports received from districts there have been four human causalities ,including a three-year-old girl in a wall collapse in Ganjam in southern Odisha.

Indian law firms want higher fees to advise on LIC’s mega IPO

Sep 15, 2021

Government officials also recently called a few prominent law firms and urged them to join the IPO work, said three law firm partners familiar with the talks.

This week, the government relaxed its fee payment schedules, to offer a 50% payment after the draft IPO prospectus was filed.

LIC may be valued around $109-bn for its mega IPO

Sep 15, 2021

The government is considering selling a 5%-10% stake in the company, which could raise between Rs 40,000 crore and Rs 1 trillion, according to people with knowledge of the matter, who asked not to be identified as the matter is private.

The potential valuation is based on preliminary talks and may change after further discussions, due diligence and an official valuation report, the people said. A spokesperson for the finance ministry declined to comment.

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International

Clear we have entered recession: IMF chief Kristalina Georgieva

Mar 27, 2020

Over 80 countries, mostly of low incomes, have already have requested emergency aid from the International Monetary Fund, she said.

Coronavirus cases top half a million, protective gear lacking – WHO

Mar 27, 2020

Tedros, without giving specifics, thanked “various national organisations” that had provided what he called critical cyber intelligence after a rise in online scams and cyber attacks on the U.N. agency and on himself,Tedros Adhanom Ghebreyesus, WHO director-general

Casino gambles on Coronavirus Business Interruption Lawsuit Against Lloyd’s, AIG, XL

Mar 26, 2020

The Chickasaw lawsuit is the second in more than a week in which a business has asked a court to declare that the coronavirus is a type of “direct physical loss or damage” that would require insurers to pay for lost revenue.

Coronavirus Rescue Bill includes $250 billion to expand unemployment insurance

Mar 26, 2020

About $500 billion in direct payments to people, in two waves of checks of up to $1,200 each. Additional payments for families with children could push the total to $3,000 for a family of four, according to Treasury

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Briefs