Reserve Bank of India (RBI) Governor Shaktikanta Das on May 25 told chiefs of select private banks to boost credit flows to retail and business borrowers. He also called on them to implement the measures announced by the central bank on May 5.

The governor spoke to them via video conference in a meeting attended by deputy governors MK Jain, M Rajeshwar Rao, Michael D. Patra and T Rabi Sankar. Earlier, on May 19, the RBI top brass had held a similar meeting with top executives of public sector banks.

“In his opening remarks, the governor recognised the crucial role played by the private sector banks as important stakeholders in the Indian banking sector. He impressed upon the banks to quickly and swiftly implement the measures announced by RBI on May 5, 2021, in right earnest,” the RBI said in a statement on its website.

Ratan Tata is known for his empathetic nature and treating his employees like his family. There have been several instances where he has gone out of the way to help out the people who work for him and his company Tata Steel. 

So, during the second wave of Covid-19, Tata Steel has gone above and beyond to help its employees and extended social security schemes to the family members of the employees affected by Covid-19. 

The Jamshedpur-based steel manufacturer has announced that it would continue to pay monthly salary to the family of all employees who died due to COVID-19.

While there was an era when one business coordinated with another and the chain continued with making India a hub of business. Nevertheless, cities to cities began connecting with one another till we could see an economic rise in the nation. But with Covid-19, many businesses had to stop their ventures, and later left on no other option than being “atma-nirbhar”. Shivam Soni, CEO & Founder, Beyoung Folks Private Limited, explains how Atma Nirbhar Bharat initiative is helping Tier 2 City Start-Ups by  giving boost for Small Businesses: -

The largest bank in the country, the State Bank of India (SBI), has written off Rs 17,590 crore bad loans in 2020-21 amid the pandemic. This amount is one of the highest in last four years. The bank had written off Rs 17,782 crore in 2018-19.

The total combined write-offs in the last four years have touched Rs 52,758 crore. The figure for write-off is over Rs 1 lakh crore in the past seven years.

While the bank has managed to bring down its gross and net NPAs in 2020-21, the large write-off amount shows the challenges in recovering bad loans.The current loan restructuring and regulatory forbearances given by the RBI also hides the true asset quality picture.

EV maker Etrio on Wednesday said it is looking to enter the electric four-wheeler light commercial vehicle (LCV) category, and plans to launch new products in the three-wheeler category. The company also announced its foray in the B2C segment with pan-India dealership network to increase adoption of three-wheelers besides opening dealerships in six states, Etrio said in a release.

Currently, the company has dealers in Delhi, UP, Haryana, Karnataka, Madhya Pradesh and Odisha. The three-wheeler passenger market, which has been affected greatly by restricted movement owing to the pandemic and urban lockdowns, is expected to revive once there is a demand surge, Etrio said.