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In news:

India would launch a communication satellite GSAT-30 onboard Ariane-5 launch vehicle from French Guiana on January 17.

In Brief:

  • It is a communication satellite to provide communication services from geostationary orbit.
  • It is to serve as replacement to INSAT-4A spacecraft services with enhanced coverage.
  • The satellite provides coverage to Indian mainland and islands and extended coverage to Gulf countries, a large number of Asian countries and Australia.
  • It will be used for supporting
    - VSAT networks,
    - Television uplinking and teleport services,
    - Digital satellite news gathering,
    - DTH television services,
    - Cellular communications

Bank Credit Growth Hits 2 Yr Low

Bank credit growth hits 2-year low on weak demand in key sectors – RBI Data.

In Brief:

  • The gross bank credit growth declined to a two-year low of 7.3 per cent in November 2019, driven by weak credit demand by the industrial and services sector.
  • The bank credit outstanding for the eight months of FY20 expanded by just 1 per cent.

What is Bank Credit growth:

  • Bank credit is the total amount of credit available to a business or individual from a banking institution.
  • It consists of the total amount of combined funds that financial institutions provide to an individual or business.
  • A business or individual’s bank credit depends on the borrower’s ability to repay the loan and the total amount of credit available in the banking institution.