As share of cash volumes in trading mix sees decline, it will result in moderation of profitability from core broking operations.
RBI governor Das flags growth slowdown, deputy raises alarm on inflation
Shaktikanta Das said in Washington, DC, that there was nothing sacrosanct about the 25 bps rate cut and that monetary policy could be well served by calibrating the size of the policy rate to the dynamics of the situation, and the size of the change itself could convey the stance of policy.
The minimum size of each bid would be $10 million and in multiples of $1 million thereafter.
According to Soumya Kanti Ghosh, chief economic advisor of the State Bank of India group, a 50 bps rate cut is a possibility, but 25 bps is more likely.
'In my 20 years, I have never seen such high rates.'
Schuldschein is an alternative way to raise funds instead of loans or bonds and deals can run from $12 million to more than $1.13 billion. These instruments include tranches of different maturities and currencies and investors are spread across the world.
While three of the top five FPIs - Capital, Government of Singapore, and Vanguard - have seen their investment value more than triple, India's benchmark indices have risen just 70%.
In 5 years, the AMC has clocked a growth rate of 40% with its AUM up nearly 4 times.
RBI proposed that at least half of the compensation of a CEO should be variable. It also said that stock options should be part of the variable pay, against the extant practice of keeping it beyond and above the scope of the official compensation package.
Chances of a rate cut in April improve if core inflation continues to ease, growth falling below the projected 7.2% for FY19 and if the global trade slowdown exacerbates.
'Investors need to find out how the FMP's assets are distributed and ensure the investments are in high-quality names.'
The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
The continued rise in interest is a pressure on fiscal, but it is not an easy way out unless the government cuts back on populist measures and sticks to fiscal prudence as laid out in the FRBM, which the government missed for the second consecutive year.
'There is merit in keeping the central bank's balance sheet strong if the government's fiscal balance sheet is weak.'
The culture of these firms is alien to the Indian financial system. Distressed assets funds are known for their ruthless recovery ethics. Slicing and dicing a company and selling it on a piecemeal basis is their usual practice. This is something Indian banks are finding a little uncomfortable.
MFs have benefited from a shift to financial assets from physical assets like real estate and gold.
About 24 fund houses saw a decline in their debt AUMs in the past one year.
Over the past several months, the airline has struggled to pay vendors and staff salaries on time.
2018 has been a disappointing and highly volatile year for equity investors.
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