Business Short News

Some of us even despite the way private-run banks are flourishing or their long existence have the belief that our money is safe in public-run banks though deposits at even private banks are secured by way of an insurance. Now when it comes to savings account, you may be comfortable opting that too in a PSB and some of them fetch return better than big private banks.

In line with the deterioration of India's economic outlook, Fitch Solutions has revised its forecast on fuel demand downward to 11.5 percent for 2020. Economists of research firm forecast India's real GDP to contract by 8.6 percent in the fiscal year 2020-21, down from the previous estimate of a 4.5 percent contraction.

The government has raised investment cap in defence sector via the automatic route to 74% for companies looking for new industrial licenses. And further from here they will need approval beforehand. The decision has been take to boost FDI in defence. Further for foreign investments into the defence sector there shall be scrutiny with respect to national security.

Analysts have now turned bullish on the IT segment on the potential for an increase in spendings on IT support as businesses expanding their online operations to reach customers. Morgan Stanley has raised its target prices on top software exporters by 17-33 percent, which is still 11-14 percent away from their current prices, making them a good bet.