KKR to invest in JIO; RBI cuts repo rate by 40 bps to 4% | Top Headlines by ET NOW

KKR to invest in JIO; RBI cuts repo rate by 40 bps to 4% | Top Headlines

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Top headlines of the day 1. RBI Governor Shaktikanta Das addressed the media days after Finance Minister Nirmala Sitharaman unveiled details of the mega economic stimulus package of Rs 20 Lakh Crore. Highlights of the Press Conference - RBI cuts repo rate by 40 bps to 4% - The RBI has also decided to extend the moratorium granted on all term loans by another three months till August 31 - Interest accrued in moratorium to become funded term loan - MPC sees growth reviving in Oct-March with downside risks - Indian economic activity severely impacted by the lockdown - MPC maintaining Accommodative stance till growth revives 2. KKR to acquire 2.32% stake in Reliance Jio for Rs 11,367 cr. With this investment, #Jio has raised Rs 78.562 cr from leading technology investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic and KKR in quick succession. This money will be utilised to reduce the mountain of debts of Reliance which is of 1.5 lakh crore but also to make JIO platforms completely high-grade technology ecosystem toward which they are actually moving. The rights issue which will get completed on 3rd June. 3. PM Narendra Modi conducts an aerial survey to assess the damage caused by Cyclone Amphan. Rs 1000 crore advance assurance will be given to West Bengal. Rs. 2 lakh would be given to the next of kin of the persons deceased & Rs 50,000 each to the persons who got seriously injured, says PM Narendra Modi. NDRF teams are working in the cyclone-affected parts. Top officials are closely monitoring the situation and also working in close coordination with the West Bengal government. No stone will be left unturned in helping the affected, tweets PM Modi Watch! Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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