Top Headlines: BSNL bailout, YES Bank to raise $1.1 bn from Carlyle, Advent

Business Standard brings you the top headlines at this hour

BSNL bailout: On revival and 4G launch, employees have fingers crossed

The Rs 1.64 trillion package, unveiled on Wednesday, includes a mix of financial support, debt restructuring, viability gap funding and administrative allotment of spectrum that will help the telecom service firm to de-stress its balance sheet, improve landline network and launch 4G service. The government hopes with these measures BSNL will turn profitable on a net basis in 2026-27. Read more...

Global PE investors Advent, Carlyle to invest Rs 8,900 cr in YES Bank

Private lender YES Bank on Friday announced raising equity capital worth $1.1 billion (Rs 8,900 crore) through funds affiliated to global private equity investors Carlyle and Advent International. Each investor will potentially acquire up to 10 per cent, YES Bank said in a filing. Read more...

Over Rs 1-trillion freebies announced by state govts, shows data

State governments have announced over Rs 1 trillion in welfare schemes and subsidies this year, even as the Supreme Court on Tuesday raised questions over freebies promised around elections. Andhra Pradesh, Madhya Pradesh, and West Bengal are among the state governments with the largest welfare scheme announcements in their respective Budgets this year. Read more...

Exports to take severe beating if recession hits US, Europe: Experts

Fears of a recession in advanced countries, amplified by the two consecutive quarters of GDP decline in the US, would affect exports from India but domestic demand would help its economy withstand the pressure. Read more...

India topped list of trade-related concerns at WTO in 2021 with 35% share

Issues were raised about India's-policy on tyres, import curbs on ACs, quality norms for copier paper and caustic soda, GM-free certification for imported food items, among other things. Read more...