The country’s second largest state-owned lender, Bank of Baroda, on Monday announced that it had plans to lend up to Rs 1,000 crore in tandem with 16 non-banking financial companies (NBFCs) and microfinance institutions (MFIs) in the current quarter.

With this step, the bank will get new accounts, to whom they will be cross-selling other products as well. At the same time, NBFCs will get an opportunity to grow their business – asset under management – without facing any capital constraints or funding related challenges.

Facebook is reportedly working on a new messaging application called Threads that will allow users to share information with their closest friends. Threads will act as a companion to Instagram letting users automatically share their location, battery life and other intimate details with their friends, The Verge reported on Monday. Instagram currently allows sharing of text, photo and video messages and this new feature is meant to promote sharing of more details with your close friends.

GMR Infrastructure’s (GMR’s) Q1FY20 adjusted loss of Rs 3.4 bn came in line with our estimate. Delhi Airport’s (DIAL) traffic continued to moderate due to the Jet Airways issue; Hyderabad Airport’s (HIAL) traffic grew 8% y-o-y. In the power segment, PLF improved y-o-y in Warora, but fell in Kamalanga due to major maintenance undertaken during the quarter.

The committee of creditors (CoC) of Reliance Communications (RCom) will hold their sixth meeting on August 27, according to a BSE notice. Ericsson had dragged RCom to insolvency and bankruptcy proceedings in September 2017 over non-payment of dues of over Rs 1,500 crore. The petition was admitted in the National Company Law Tribunal (NCLT), however, the National Company Law Appellate Tribunal (NCLAT) stayed the insolvency order, aer an appeal from RCom and a settlement with Ericsson was chalked out.

Tata Motors is going for a second block closure in this month at its Pune plant from where it rolls out passenger cars and commercial vehicles. The company will have a four-day block closure from August 28 to 31. The company had a three-day block closure on August 3.

Tata Motors had earlier indicated that the external environment remains challenging, leading to demand contraction and they have aligned production to actual demand and adjusted the number of shifts and contractual manpower.

Gold prices scaled a new high on Monday, adding another Rs 675 to Rs 39,670 per 10 gram in Delhi mainly due to falling rupee and strong global trend.

Since August 20, gold prices have touched a fresh every day.

IT major Infosys has bought back 11.05 crore of its shares under its Rs 8,260-crore buyback offer that began in March this year.

"...The company bought back 11,05,19,266 equity shares at an average price of Rs 747.38 per equity share; and deployed an amount of Rs 82,59,99,99,430.03 deploying 99.999999 per cent of the maximum buyback size (excluding transaction costs)...till August 26," Infosys said in a regulatory filing on late Monday night.

Nearly 40,000 fires are incinerating Brazil’s Amazon rainforest, the latest outbreak in an overactive fire season that has charred 1,330 square miles of the rainforest this year.

Don’t blame dry weather for the swift destruction of the world’s largest tropical forest, say environmentalists.

The government on Monday offered for bidding seven new areas for prospecting of oil and natural gas on revamped exploration terms that look to expedite cut in import dependence by raising domestic output.

Five blocks offered are in little-explored Vindhyan sedimentary basin, while one block is in Bengal Purnea basin. The remaining block is the proven basin of Rajasthan, according to a press statement by the Directorate General of Hydrocarbons (DGH).

India’s economic numbers have for some time looked better than the facts warranted, feeding an overconfidence in New Delhi about the country’s prospects. Thankfully, that’s begun to change. The Reserve Bank of India, the International Monetary Fund, investment banks and ratings agencies have all recently cut their estimates of 2019 growth sharply.

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