'Today, three areas give banks a big headache -- steel, power, infrastructure.' 'Three Cs are very critical in lending -- character, capacity and collateral of the borrower.'
The business council aims to give impetus to trade.
Russia is among the top buyers of Indian tea, accounting for about 18 per cent of the industry's total exports.
Sounding a note of caution, the Reserve Bank said on Friday said there is a risk of high wholesale price inflation (WPI) putting pressure on the retail inflation, albeit with a lag. In its annual report, the RBI said that the cost-push pressures from high industrial raw material prices, transportation costs and global logistics, and supply chain bottlenecks continue to impinge on core inflation. "The substantial wedge between wholesale and retail price inflation amidst a sharp rise in manufactured products' inflation poses the risk of a possible passthrough of input cost pressures to retail inflation with a lag, although slack in the economy is muting the pass-through," the central bank noted.
The RBI on Wednesday asked banks to provide an option to jewellery exporters and domestic manufacturers of gold jewellery to repay a part of Gold (metal) Loans (GML) in physical gold. As per the extant instructions, banks authorised to import gold and designated banks participating in Gold Monetisation Scheme, 2015 (GMS) can extend GML to jewellery exporters or domestic manufacturers of gold jewellery. GML are repaid in Indian rupees, equivalent to the value of the yellow metal borrowed.
'So far as supervision is concerned, there are enough powers but to take action on public sector banks, consultation with the government is needed.'
83% of the CEOS plan to hire more in the new year.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed two spots to No. 53 on Forbes' latest Global 2000 list of public companies worldwide. Forbes Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value, Forbes said releasing the 2022 ranking of the world's top 2,000 companies. Reliance is the top-ranked Indian firm on the list, followed by State Bank of India at No. 105, HDFC Bank at No. 153 and ICICI Bank at No. 204.
Auto majors face dip in exports due to credit squeeze in Lanka, Nepal
'Credit expansion is probably the quickest way to get the economy going again.' 'Easy credit is like a shot of nitro in a race car: In timely, small, quick, doses it can give a tremendous boost but carried to extreme it can destroy the engine,' points out S Muralidharan, former managing director, BNP Paribas.
United States Secretary of State John Kerry, heading a high-powered delegation of his cabinet colleagues and top military commanders, today left for India as part of his 10-day seven nation Asia trip.
India has raised tariffs on 28 items, including almond, pulses and walnut, exported from the US in retaliation to America's withdrawal of preferential access for Indian products.
If the central banks act harshly now, the markets will crash and then rally. If they are hesitant, the pain will be prolonged, predicts Debashis Basu.
What could be the reason for the successive downward revisions across the board? Some key indicators make it evident, reports Abhishek Waghmare.
Hillary Clinton and Bernie Sanders held a fierce and substantive debate on Sunday night, disagreeing over trade, guns, the auto industry and Wall Street.
The 2015 World Bank group's Doing Business index ranked India at 142, down from 140, which it was the year before.
Finance minister Nirmala Sitharaman on Wednesday exuded confidence that inflation would further decline and the government is on track to meet its budgetary target for deficit and said that there is no fear of stagflation in India. Replying to the debate on first batch of Supplementary Demands for Grants 2022-23 in Lok Sabha, the finance minister said inflation has come down and it is now in the tolerable band of the RBI. Inflation has been declining since April 2022 and it is declining further, she said.
'The Indian economy and the Indian financial sector today remain resilient and much better placed.'
'Auto, pharma, and industrials have delivered well in the recent quarter, while businesses like quick-service restaurants, consumer staples, and durables have underperformed in volume growth.'
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And with prices low, the equilibrium real exchange rate will also be low, that is to say depreciated.
Reliance Industries, the Tata group, Bharti Airtel and Aditya Birla are among Indian conglomerates that have hedged their revenue and costs linked to the US dollar, giving them financial cover as the rupee fell past 80 against the greenback on Tuesday.
'Yet the market didn't do all that badly because it was cushioned by domestic inflows.'
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
Russian traders have started asking for payments in ruble for their exports to India in a move that could derail trade between the two countries which gathered pace after the war in Europe. This is because Indian importers are unable to pay in ruble. The India-Russia trade gathered pace after Vladimir Putin invaded Ukraine in February this year. In the April-June quarter, India's imports from Russia were valued at $9.27 billion, up 369 per cent year on year.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
Maharashtra Chief Minister Uddhav Thackeray announced a statewide curfew for 15 days from 8 am on April 14 to contain the rapid spread of the coronavirus in its second wave. With Section 144 being imposed across the state, Thackeray essential services have been exempted from the restrictions. The curfew will be in place till 7 am on May 1.
Thanks to the recapitalisation by the government and measures taken by the central bank, collapse of any large housing finance company won't pose as big a risk as it had six months ago.
On the present government's 'Make in India' campaign, C Rangarajan, former chairman of the Prime Minister's Economic Advisory Council, says it is important to first ask for whom it is being made.
Exports in January 2014 stood at $26.89 billion.
Centre mulls strategy to ensure powers given to the agencies are not misused.
During the meeting with Acting Deputy US Trade Representative Wendy Cutler on Wednesday,
Job postings declined on an annual basis in September but witnessed a marginal uptick compared to August this year, a report said on Tuesday. There was a fall in job postings in various sectors, including media and entertainment, home appliances, shipping and marine, IT and BPO/ITES compared to September 2021. For September 2022, the Monster Employment Index (MEI) showed that there was a 4 per cent decline in hiring activities on an annual basis but a 1 per cent rise on a month-on-month basis.
The government on Monday ruled out making public the RBI report detailing the reasons why the central bank could not keep inflation within the targeted 6 per cent upper limit for the three consecutive quarters. "Yes sir, RBI has furnished a report to the central government, as mandated under Section 45ZN of the RBI Act, 1934 and Regulation 7 of RBI Monetary Policy Committee and Monetary Policy process Regulations, 2016," minister of state for finance Pankaj Chaudhary said in a written reply. The said provisions of the RBI Act, 1934, and regulations therein does not provide for making the report public, he said.
Trade sanctions on Russia by Europe and the US offer an opportunity for India, but the devaluation of the rouble may play spoilsport
As the Indian currency hovers around its lowest versus the US greenback, several smaller and mid-sized companies are expected to face rough weather as almost 44 per cent of the foreign loans taken by Indian companies remained unhedged. According to the data sourced from the Reserve Bank of India, Indian companies raised around $38.2 billion in the financial year ended in March. Of this, only 56 per cent of the loans are hedged while the rest of the foreign loans remain unhedged, thus risking the companies to forex volatility.
If 4,000 workers could work round the clock for the construction of the new Parliament building, then there is no reason why all infrastructure projects too cannot follow that model, asserts Dr Sudhir Bisht.
Changes in global oil and gas rates matter more to India's economy than other major economies because the country imports around 87 per cent of its oil, half of its gas in the form of LNG, and over 60 per cent of its LPG.
The country's new economic roadmap highlights the importance of creating a virtuous cycle of investment, savings and exports in order to sustain rapid economic growth over the next five years.
To provide exporters/importers greater flexibility in risk management, RBI enhanced the limit available to exporters to 50 per cent
India's real GDP growth is set to exceed 7 per cent for CY-2015.
