Morning Buzz: HP to make Chromebooks in India, banks plan rating model to profile risks in startups, and more
Here are the top business headlines this morning, to get your day started
Hewlett Packard has partnered with Google to make Chromebooks in India.
Image: Shutterstock
HP to make Chromebooks in India
Hewlett Packard has partnered with Google to make Chromebooks in India. The computers will be made at HP’s Flex facility in Chennai where HP has been producing a range of laptops and desktops since August 2020. HP is one of the key participants in the governments PLI scheme for manufacturing IT products. The Chromebooks are expected to be used by schools for K12 education.(Mint)
India US bond yields spread fall to lowest in 17 years
The spread between India and US bond yields narrowed to 256 basis points the lowest since May 2006 and sharply lower than 345 basis points since December 2022. The lower spread makes Indian bonds less attractive for foreigners to invest in. Foreign portfolio investors have invested $122 million so far in September down 89 percent from the $923 million invested in August.(Business Standard)
Banks plan rating model to profile risk in startups
Banks are planning to initiate a separate credit scoring model for startups and have initiated discussions with ratings agencies and the banking regulator. This comes as the government wants banks to play a more significant role in financing startups. Banks are of the view that a common rating system will reduce turnaround time for granting loans.
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