Non-banking financial companies (NBFCs) such as Bajaj Finance, Shriram Finance, Muthoot Finance, and IIFL Finance have regained their growth momentum after losing market share to banks in the post-Covid period. The growth surge is being led by diversified lenders and gold-loan companies while development-finance institutions such as Power Finance Corporation (PFC), REC, and Housing & Urban Development Corporation (Hudco) continue to grow at a slower pace.
Glimpses from around the world that will make you smile and cry.
Finance Minister Nirmala Sitharaman on Saturday announced the government's plan to transform India into a large logistics organisation with 1.5 lakh rural post offices.
'As the Budget has taken some measures to spur growth, similar action from the MPC may be expected.'
With its age-old fascination for education, southern states have done better than the North. Start-ups, IT hubs, and industry majors setting up shop have changed the face of the South. Nearly 79% of global offices set up by international conglomerates in India are in the South. Almost 46% of tech unicorns are from the South. The GDP per person in the South is 4.2 times higher than the North. None of these indicators can be ignored by any central government, whatever the political compulsions, notes Ramesh Menon.
'Growth, liquidity and deposit mobilisation are likely to be discussed during the interaction.'
'If it doesn't, it will continue with measures to infuse liquidity, signalling a new cycle,' predicts Tamal Bandyopadhyay.
As Modi spoke, two Cabinet ministers sat behind him as did senior diplomats and civil servants. National Security Adviser Ajit K Doval -- a regular attendee alongside Modi at such international gatherings -- was intriguingly seated behind the Cabinet ministers and the PM's principal secretary.
'The move to remove indexation benefits on LTCGs presently available for property, gold, and other unlisted assets may have a negative impact as it directly impacts real estate investors.'
'Alongside economic growth and the Asian century, stress has become an Asian caravan.' 'But stress doesn't arrive in one's country as invitation to taste exhaustion. It comes dressed as a challenge.' 'Its evangelists ask: Are you man enough to shoulder stress?' points out Shyam G Menon.
The Reserve Bank of India's (RBI's) decision to withdraw the incremental cash reserve ratio (I-CRR) is expected to benefit banks during the festival season. They are likely to increase deposit rates by up to 25 basis points (bps) in select maturity buckets. The rise in demand for funds to cover tax payments and meet quarter-end business targets could influence rate decisions by banks, according to bankers and money market executives.
Popular YouTuber and social media influencer Elvish Yadav is making his presence felt inside the Bigg Boss OTT house.
Finance Minister Nirmala Sitharaman on Tuesday nudged the fintech industry to break the distance barrier and have more engagements with the government and its agencies to enhance trust. Sitharaman was replying to a question by Kris Gopalakrishnan, chairman, Global Fintech Fest (GFF) 2022 advisory board, who wanted to know how to ensure trust among industry, regulators, and the government. "I don't want to sound cliche, but distance brings distrust. "So, cut the distance down, have greater engagement with the government," the minister said.
Filing of nominations for the post of Congress president is scheduled to begin on Saturday with a contest between Rajasthan Chief Minister Ashok Gehlot and former Union minister Shashi Tharoor on the cards.
Months after exiting the decades-long association with the Congress party, Azad said that he was not against its policy of secularism, but its weak party system.
Despite its admirable competence and proven track record, the RBI doesn't have the capacity to supervise an economy that's growing so fast and becoming larger by the year, points out T C A Srinivasa Raghavan.
The real requirement for the finance minister's explanatory speech is to explain the measures taken in the Budget to influence inflation and growth not just through the announcement of a deficit goal, but more broadly through the impact on money supply, consumer demand, foreign trade and investment, explains Nitin Desai.
The general nervousness because of the IL&FS default will prevail in the system for now.
Bank credit is likely to grow at a four-year high of 11-12 per cent in fiscal 2023, on the back of better economic growth and budgetary support from the government, according to a report. In the fiscal ended March 2022, bank advances have likely grown at 9-10 per cent. "Healthy economic growth and budgetary support from the government should lift bank credit growth by 200-300 basis points to 11-12 per cent this fiscal," Crisil Ratings said in the report. The higher credit growth expectation is also supported by the improved resilience of the banking system, it added.
Nirmala Sitharaman's messaging was clear when she presented a well-balanced Budget with an eye on state elections in nine states followed by a general election next year, observes Ramesh Menon.
The Budget Session of Parliament will commence on Monday and is scheduled to conclude on April 8 wherein the first part of the session will extend up to February 11, said the Lok Sabha Secretariat on Sunday.
Probably 35 bps. There could be even an encore in February 2023 to take the policy rate to 6.5% before the financial year ends, predicts Tamal Bandyopadhyay.
To help the country emerge as a true welfare State, political parties must put the country's interests first before strategising to win elections and short-term goals, argues Ramesh Menon.
For the first 90 days of 2021, from January 5 onwards, one Union minister will visit one district in Tamil Nadu every week till the assembly election.
Disapproving of Janata Dal-United's remarks against Narendra Modi, the Bharatiya Janata Party on Sunday firmly stood behind the Gujarat chief minister saying no "unfounded inferences" should be drawn against him
Banks are set to sell dud-loans worth Rs 90,000 crore of 22 firms in the first tranche to the National Asset Reconstruction Company (NARCL). It's reason for cheer given that such sales to asset reconstruction companies (ARCs) have been poor in recent times. In fiscal 2020, their assets under management (AUM) contracted by 4 per cent; and in fiscal 2021, it fell by another 100 basis points to Rs 1.07 trillion. So, why are we where we are?
Bharatiya Janata Party spokesperson Nirmala Sitaraman called the Jammu & Kashmir interlocutors' report being published on a website just 36 hours after the conclusion of the budget session of Parliament as UPA II's "backdoor exposure" of a sensitive report.
'The Air Force rules the skies.' Wing Commander K Dinesh (retd) recounts an encounter at Mumbai airport.
Bharatiya Janata Party on Sunday demanded that Prime Minister Manmohan Singh and the then finance minister, when the 2G Spectrum allocation was made, P Chidambaram, give "proper reply" to former Telecom Minister A Raja's claim that the issue of sale of equity by spectrum licencees was discussed with them.
Alleging that the Congress lacks the political will to carve out a separate Telangana, the Bharatiya Janata Party on Sunday demanded that the full content of the Srikrishna Committee report on formation of the state be made public.
In the wake of the controversy created by Bharaiya Janata Party leader Sushma Swaraj's statement on Reddy brothers, the party on Sunday said there was no rift over the issue in the party.
Chidambaram mocked her with a tongue-in-cheek tweet.
While there is no change in the strength of the Modi-led CCPA over its two tenures, what has changed is its profile.
The major beneficiaries of loan recasting will be sub-Rs 500 crore corporate exposures and retail exposures, which were earlier expected to see the highest increase in NPAs in percentage terms.
Lenders can now initiate recovery proceedings since the SC has lifted the standstill on asset classification, which protected stressed accounts from slipping into NPAs.
About 50 per cent of the accounts that availed of the EMI moratorium amid the pandemic, which made things worse in an already slowing economy, are expected to be restructured, and of these accounts that would undergo restructuring, one-third, or Rs 6-9 trillion, could turn into NPAs.
MF assets remained unaffected by the January market crash, said research firm Crisil. Some fund houses even registered an increse in AUMs.
A young computer wiz from Gujarat will present a paper on Indian font recognition softwares at a global conference in the US next month.
'This fund will enable micro-donations as a result of which a large number of people will be able to contribute with smallest of denominations,' a statement said. People can visit www.pmindia.gov.in to make contributions using credit and debit cards, UPI, net banking and RTGS or NEFT, it said.
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