 "Top headlines: PLI scheme targets jobs; mobile apps struggle for money")
Consumer spends on mobile apps--a key element for making this business viable--are still very small. Read all the top headlines of the day here:
Steel, auto, textile companies at heart of PLI scheme job target
Steel, auto, textile companies at heart of PLI scheme job target
The government’s ambitious target of generating over 6 million jobs in five years from the production-linked incentive (PLI) scheme will hinge on five of the 14 specified sectors reaching the magic numbers. Read more
Public sector banks up loan growth target as corporate demand sees revival
Large public sector banks (PSBs) have revised upwards their credit growth target for the current financial year. This is following revival of demand from the corporate sector and small and medium enterprises (SMEs), even as a nascent economic recovery is taking shape. Read more
Suzlon Energy seeks Rs 4,200-crore bailout from govt-owned PFC, REC
Suzlon Energy, a loss-making renewable power firm, has sought a Rs 4,200-crore bailout from the government-owned Power Finance Corporation (PFC) and REC. According to banking sources, Suzlon Energy has proposed that because REC and PFC have specialised knowledge about the power sector, the two institutions are in a better position to address the specific needs of the company. Read more
Share of retail investors in NSE companies at record high, shows data
Retail investors have gained significant heft in the past year amid a sustained uptick in Indian equities. The share of retail investors in companies listed on the NSE reached an all-time high of 7.32 per cent in the quarter ended December 31, 2021, up from 7.13 per cent in the previous quarter and 6.9 per cent a year ago, the data from PRIME Infobase shows. Read more
Despite high downloads, mobile apps struggle to make money in India
Consider this contradiction. Indian consumers are lapping up mobile apps like never before — helping the country rank high in the global pecking order both for new downloads and the hours spent on them. Read more
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