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