Britannia Factories Running At 25% Capacity Utilisation Amid Lockdown
Amid the Covid-19 lockdown, factories of Britannia are running at 25-30 per cent capacity utilisation, managing director Varun Berry has said. However, in the next 5-6 days production is likely to pick up and the FMCG-major should be getting close to 70-75 per cent as far as capacity utilisation is concerned, Berry said.
“We do not have problems in terms of raw materials but factories are operating at 25-30 per cent efficiency as we haven’t been able to get workers to come in. Safety is our topmost priority but there’s a little bit of fear factor among the workers.” He said, the surge in demand during the lockdown is not a sustained one.
ALSO READ: Manufacturing firms want partial lift on Covid-19 lockdown to reduce losses
The company is holding an inventory of up to 11 days which is witnessing a depletion for the past one week. To ensure uninterrupted supply of essentials, Britannia said it had also partnered with on-demand e-commerce platform Dunzo to deliver its products.
BoE Loosens Capital Rules
The Bank of England has taken a significant step towards easing post-crisis regulation by lowering its estimate of the c... Read more
Monzo Looks For US Banking License
Monzo is preparing a renewed push to secure a US banking licence, four years after abandoning its first attempt when tal... Read more
Crypto Firms Push Into US Banking
America’s cryptocurrency companies are scrambling to secure a foothold in the country’s traditional banking system, ... Read more
Parallel Banking: Stablecoins Are Now Global
Parallel Banking: How Stablecoins Are Building a New Global Payments SystemStablecoins—digital currencies pegged to tr... Read more
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more