Banks sanction ₹1.27 tn worth loans to MSME under credit guarantee scheme !!

The finance ministry on Tuesday said that, as of 20 July, banks have sanctioned loans worth about ₹1,27,582 crore under the ₹3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector impacted by the economic slowdown the triggered by coronavirus. However, disbursements from public sector banks and private banks against this stood at ₹77,613 crore under the 100% ECLGS for micro, small and medium enterprises (MSMEs). The scheme is the biggest fiscal component of the ₹20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman in…

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This is the world’s smallest 4G Android 10 phone, as big as your credit card !!

Large screen phones with display in sizes of above 6-inches have become pretty much standard nowadays. Some people, however, still look for a smaller form factor. There are not a lot of options unless you settle with the iPhone SE or older-gen Android phones. Now, a China-based firm has launched what is being touted as the world’s smallest 4G Android smartphone. Shanghai-based Unihertz has launched Jelly 2. The phone is the successor to Jelly, another small smartphone that launched in back in 2017. The company has a small lineup of…

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Nandan Nilekani opens credit infra to help small businesses get loans !!

A major new technological innovation is in the works connecting lenders with the marketplace, Aadhaar architect Nandan Nilekani announced on Wednesday that, as he buttressed the need for India to “democratize credit” for millions of small businesses to revive its virus-battered economy. Speaking at the Global Fintech Festival, 2020 Nilekani, co-founder & non-executive chairman of Infosys Ltd, described that the initiative as a credit protocol infrastructure called the Open Credit Enablement Network, or OCEN, built by the Indian Software Product Industry Roundtable (iSpirt), a think-tank of the software industry. Under these…

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Researchers Rediscover ‘Lost Planet’ Using New Method in Another Step Towards Finding Habitable Planets !!

Researchers from University of Warwick in the UK rediscovered the planet named NGTS-11b using the Next-Generation Transit Survey (NGTS) telescopes in Chile. The planet was its originally found in 2018 using data from NASA’s TESS telescope, which scans for a dip in light from the star to identify it as a planet. At the time, due to a 27-day scanning limitation of the TESS telescope, the star could not be identified. However, using the NGTS telescopes, researchers were successfully able to rediscover the NGTS-11b, which revolves around its star every…

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