US Labour Market Appears to Stabilise as Private Payrolls Fall Less Than Expected

U.S. private payrolls fell less than expected in May, suggesting layoffs were abating as businesses reopen, though the overall economy’s recovery from the COVID-19 pandemic will be slow. The ADP National Employment Report on Wednesday showed private employers laid off another 2.76 million workers last month after a record 19.557 million in April. Economists polled […]

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Public Sector Banks Disburse Rs 3,893-cr Loans to MSMEs Under Emergency Credit Line Guarantee Scheme

The Finance Ministry on Wednesday said that public sector banks (PSBs) have disbursed Rs 3,892.78 crore in the first two days of the month under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector hit hard by the coronavirus-induced lockdown. Meanwhile, PSBs have sanctioned loans worth Rs 10,361.75 crore under […]

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Indians Spent a Lot on Streaming App Subscriptions During Lockdown But Ecommerce Was Badly Hit

It was perhaps always going to make for interesting reading. How Indians spent their money during the lockdown, has as expected, varied drastically across regions and usage demographics. Financial services and credit card payment platform CRED has shared numbers to illustrate what its users spent on, or prioritized spending on, during the COVID lockdown months […]

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