Fastest growth in the services sector in February in one year, employment has not got relief on the front: Services PMI.
India’s services sector recorded the fastest growth in the past year in February. However, there is still no respite news in terms of jobs. It has been said in a monthly survey.
According to this survey, despite a sharp increase, the services sector recorded a decrease in employment opportunities in February.
According to this survey, employment opportunities have come down due to a sudden increase in the total expenses of companies.
IHS Markit’s India Services Business Activity Index peaked at 55.3 in February from 52.8 in January. This growth was witnessed in the services sector due to improved demand and favorable market conditions.
Confidence in the business has been restored due to a campaign involving the Covid-19 vaccine. On its strength, the index remained above 50 points in February for the fifth consecutive month.
It is noteworthy that above 50 on PMI shows growth. However, the figure below shows the contraction.
The new order also saw a fifth consecutive month of growth, but panelists indicated that services demand was limited to a level due to the Covid-19 epidemic and travel-related restrictions.
It has been said in the survey, “New orders related to exports have seen a 12th consecutive decrease. However, from March 2020 till now, the pace of decrease in export orders was the lowest in February 2021. ”
Meanwhile, India’s private sector output recorded the fastest growth in the last four months in February. The Composite PMI Output Index peaked at 57.3 in February, up from 55.8 in January. It includes data related to both the manufacturing and services sectors.
IHS Markit’s India Services PMI also stated that despite a growth in total new business, there was a decrease in employment in February. Many companies say that this situation persists due to restrictions related to Kovid-19.
SBI’s tweet, fraudster adopting these methods for fraud
State Bank of India (SBI) has told its customers that recently such messages are being shared in which SBI is being asked to redeem credit points.
The bank said that customers should stay away from such messages. The bank wrote on Twitter to beware of the messages sent by fraudsters for reward points!
SBI wrote, “Dear customer, we have come to know through some media reports that cybercriminals are sending fake messages to our customers in the name of SBI and asking them to click on the fake link and get reward points.”
In this way, by clicking on the fake link, the customer’s reward point is being fraudulently collected and sensitive information of the customer is being collected.