Morning Buzz: Yes Bank puts more bad loans for sale, investor firm Omidyar to exit India, and more
Here are the top business headlines this morning, to get your day started
Private lender Yes Bank has put an additional Rs4,200 crore worth of bad loans for sale.
Image: Niharika Kulkarni/NurPhoto via Getty Images
India’s retail inflation surges to a three-month high in November
Annual retail inflation for the country, according to the CPI index, rose to 5.5 percent for November 2023, its highest pace of growth, raising concerns that the Reserve Bank of India is unlikely to start lowering interest rates soon. The central bank has kept rates on hold for five consecutive meetings—at 6.5 percent—the last decision being on December 9 last week. Food inflation, a majority of the consumer price basket, was 8.7 percent in November, up from 6.61 percent in October 2023.
(Economic Times, The Times of India, Reuters India)
Nearly 80 percent employers to sustain or expand their workforce in H2FY24
Nearly 80 percent of India’s employers in the corporate world are planning to either sustain or increase their workforce in the second half of FY24, according to a TeamLease report. The boost to government policies and fostering a conducive business environment, implementation of PLI schemes and other employment initiatives from the government have been cited as the reasons to start hiring more.
(Business Standard)
