About 17 million women were left jobless in India soon after the Govt announced lockdown and the unemployment rate rose to 33% during this period. The Oxfam report also notes that the rise in unemployment of women can also lead to a loss of $218 billion to India’s GDP. A total of 122 million people were also become jobless in India during the period.
Jeff Bezos sought $1.7 million from his Michael Sanchez in means of legal fees to cover a defamation lawsuit. Sanchez had filed defamation against Bezos for accusing him of the source of nude photos of Bezos leaked to a magazine. The case did no progress as Sanchez had no proof against Bezos except what heard from journalist.
For the first time in the Indian stock market time, the Bombay Stock Exchange’s Sensex crossed the 50,000 mark point. The Sensex, which was were in the 49,000 territory, spurted out following Biden’s ascendancy to the White House. It opened at 50,096.57 and touched a fresh all-time high of 50,126.73 points. The bullish run continues still now.
Alibaba chief Jack Ma appeared online after being out of public view over 2 months following a Chinese crackdown on his establishments. The billionaire addressed scores of teachers on an online conference organised to recognize the achievements of rural educators. Ma’s re-emergence may help quashing speculation about his plight following the crackdown.
The imports and exports have seen on the recovery mode, registering an increase in exports and imports in December since February 2020. The Commerce Ministry released data showed an export rise of 0.1% on year to $27.15 billion in December. Imports rose by 7.6% in December to $42.59 billion, inflating trade deficit to a 25-month high of $15.44 billion.
An RBI constituted Working Group will look into the digital lending through mobile apps and online platforms in India. The Group is expected to give a report on digital lending activities and suggest policy and statutory changes in the next three months. Several instances suicides and harassment were reported in the country related to digital lending.