BHP will start paying invoices from small business suppliers after just seven days and has created a $6 million fund to support labour hire companies affected by COVID-19.…
The Union government is planning to give unemployment benefits to a section of organised workers who have lost their jobs due to the coronavirus pandemic.
This will be along the lines of measures taken by some countries such as the United States to combat the impact of the pandemic, also known as COVID-19, on the working population.
The government’s ‘Atal Beema Vyakti Kalyan Yojana’ scheme, which provides unemployment insurance to workers subscribed to the Employees’ State Insurance (ESI) scheme, will cover such workers during the coronavirus pandemic. The ESI is a self-financing health insurance scheme for formal sector workers in India managed by the Employees State Insurance Corporation (ESIC).
Under the scheme, which has been operational since July 2018, workers who become unemployed get compensation in the form of cash up to 3 months of unemployment. But the workers can avail this benefit only once in their lifetime. “The labour and employment ministry is looking to extend the scheme and allow workers to avail the unemployment insurance benefit if they are impacted due to the coronavirus,” a senior government official said, requesting anonymity.
Workers get cash to the tune of
Online enterprise debt platform and lender Vivriti Capital has raised Rs 350 crore in Series B round from LGT Lightstone Aspada.
The latest round of funding takes the total equity raised by the start-up to $100 million. The company would use the fresh fund to expand technology and data science capability in all three lines of business- its online lending marketplace, non banking finance company (NBFC) and fund management.
Avendus Capital was the sole financial advisor for this deal.
“We have achieved unprecedented scale in a tough market. We’re issuers as well as providers of capital and will use the fresh funds to scale up our technological and data science capabilities by March 2021. We will also scale up our NBFC,” said Gaurav Kumar, founder and managing director at Viviriti Capital.
“We are excited to back the team at Vivriti in helping build India’s largest debt platform. Over the last few years, we have tracked their progress keenly and have been impressed by the quality of execution. We believe that the combination of their tech platform and strong product development capabilities bring much needed innovation in the
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