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Analysts see FY16 CAD at 0.5-0.6% of GDP.
They pointed out that Finance Minister Nirmala Sitharaman relies a lot on divestments, where the government under-performed in FY2019-20, to achieve the 3.8 per cent fiscal deficit target.
The market last tumbled 10% or more in December 2016 following demonetisation. The decline was followed by a sharp rebound. This time the chances of such a v-shaped recovery are less.
Singaporean brokerage DBS said in a report that it expects exports to pick up once the GST-driven distortions subsided, but it warned that the traditional product mix will hinder its ability to participate in the ongoing trade upturn.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
Banks say they themselves red-flagged the transactions to RBI. It must be noted that these transactions are not outright evidence of fraud or proof of nefarious activities.
Excise duty cut for auto company is a great boon for the sectors, expert feels.
The July-September quarter GDP numbers are due on November 30.
...but when they awaken, it's going to be overly optimistic to assume everybody will walk off the sleeping bed and come back to full life, Rajan noted.
The wholesale price-based inflation accelerated to a record high of 12.94 per cent in May, on rising prices of crude oil and manufactured goods. Low base effect also contributed to the spike in WPI inflation in May 2021. In May 2020, WPI inflation was at (-) 3.37 per cent. This is the fifth straight month of uptick seen in the wholesale price index (WPI)-based inflation. In April, 2021, WPI inflation hit double digit at 10.49 per cent. "The annual rate of inflation, based on monthly WPI, was 12.94 per cent for the month of May, 2021 (over May, 2020) as compared to (-) 3.37 per cent in May 2020.
As per the report, the government's estimate of 5-5.5 per cent GDP growth will require an average growth of 5.4 per cent in the second half of this fiscal, which is a tall order now.
Analysts are expecting inflation to fall further in October and November on base effect. Inflation measured by consumer prices has been trending down for over four months, and came in at 6.7 per cent in September.
147 domestic and international recruiters -- including Ola, Amazon, Flipkart and Xiaomi -- hired all 460 graduates.
In the start-up world, hitting the $1-billion mark, which accords the "Unicorn" tag, is a milestone. Enterprises typically reach the milestone only by series C or series D, or three to four funding rounds later. Zeta achieved it at the first one. On May 25, the six-year-old banking tech firm raised $250 million from Japanese conglomerate SoftBank, at a post-money valuation of $1.45 billion. "This is the first time we have raised institutional money," Zeta co-founder Bhavin Turakhia beamed on the conference call. This trajectory is uncommon in start-ups.
The government will announce the FY13 GDP numbers on May 30, where it expects the readings to be around 5.2 per cent.
Of the Rs 20-lakh-crore package that Prime Minister Narendra Modi announced to defend the economy against coronavirus disruptions, fresh support may be only around 60 per cent of the offer as it counts the first financial stimulus and liquidity support that Reserve Bank has given already, and will overburden the bond market, says a report.
Analysts say RBI will cut rates because the liquidity crunch that began this time last year is still hurting the economy and also with an eye on the August industrial production numbers, which showed a contraction by 1.1 per cent -- the steepest in seven long years.
Ola said it will not charge commission from drivers for the first two months after the launch, allowing them to retain 100 per cent of their earnings from the platform.
The agency welcomed the Rs 1.70-lakh crore package announced by Finance Minister Nirmala Sitharaman earlier in the day but said more measures like loan forbearances for small businesses and households are necessary.
Speaking to reporters at the ongoing South Asian Diaspora Convention in Singapore, Gupta highlighted the funding deficit faced by infrastructure projects in India and the rest of the region, while the high saving rate among the Chinese was boosting the RMB deposit base in Hong Kong and Singapore, already estimated to be over $3 trillion.
No, because year-on-year data mask a sharp upward correction in industrial growth but a rate rise could see a surge of fund flows into India and prove counter-productive
The footprints of Indian-origin corporate executives at multinationals is expanding, with Sandeep Kataria taking over the reins of footwear major Bata as its global chief executive officer. From FMCG majors to IT titans, Kataria joins the league of Indian-origin executives who have climbed the highest echelons of corporate across diverse sectors globally. From Nooyi to Pichai to Nadella, the list of such people at the helm of multi-billion dollar enterprises is long.
The Nifty PSU Bank pared losses to end flat after falling as much as 1.05%
Indian banks have started exploring opportunities in the space, including lending to crypto exchanges, and accepting bitcoins as collateral, among others.
The loan is funded by a consortium of banks led by Australian and New Zealand Banking Group Ltd, BNP Paribas, Credit Agricole Corporate and Investment Bank, DBS Bank Ltd and Intesa Sanpaolo Spa, RCom said in a filing to the Bombay Stock Exchange.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
The most common complaint of financial consumers is cumbersome processes, complicated products, usurious charges, and mis-selling of products, which finally don't deliver what is promised or as expect, notes Debashis Basu.
Economists praise Das for his pragmatism and willingness to face challenges head on. And in doing so with the finesse of an able administrator.
They took investor money via IPOs and then disappeared.
The American brokerage firm said it expects the rate cut to happen only in December if the monsoons normalise to cool down inflation or early 2015 in case prices rise prolongs.
Patanjali, the lone player left in contention after the exit of Adani Wilmar, had last month increased its bid value by around Rs 200 crore to Rs 4,350 crore for Ruchi Soya.
Mutual fund analysts attribute this to the volatility in the debt markets over the last two months. Saurabh Nanavati, chief executive officer, Religare Asset Management Company, said, "In the last three months, many debt funds found themselves in trouble due to the rise in the 10-year government securities' yield. In such a scenario, the funds will not be in a position to distribute dividends on a regular basis as they are not generating income."
If an opportunity fund is true to its calling, it will move all around, scouting for the right opportunities, be it in market-cap, sector-wise or theme-wise holdings.
Some leading private and foreign banks in the country have started checking scores of credit information companies such as Credit Information Bureau Ltd as part of their pre-employment screening process.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
Adani Wilmar's bid was approved by the committee of creditors of the bankruptcy-bound Ruchi Soya with about 96% votes in favour
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
The Reserve Bank is likely to continue buying dollars from market to add to its reserves in the coming months, which has crossed $300 billion, says a report.
Many other Indians are heading the businesses at companies abroad.
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