Commercial vehicles witnessed a fall of 15-17% in November as buyers struggled to meet margin money requirements, reports Swaraj Baggonkar.
A number of public sector banks will have to stock up on core capital, if the Reserve Bank of India decides to ask banks to leave out hybrid instruments while computing Tier-I capital adequacy, as indicated by RBI last week.
The industry expects Iran to purchase at least 1 million tonnes this financial year
The loans securitised between January 2004 and December 2006 have shown progressively lower collection efficiency and hence, higher delinquency levels. In fact, among all the years, the pools securitised in 2006 have shown the weakest performance, rating agency ICRA said.
Historically, there has been no correlation between growth in bank credit to industry and lower benchmark interest rate
Unlike bank FDs that are considered risk-free investments, NCDs do carry a certain amount of risk, primary among them is the risk of default, either servicing the interest payment or meeting their principal repayment obligations.
There is little doubt that the global economic crisis has worsened Indias growth prospects, but the slowdown began long before the US financial meltdown began.
Private hospitals, especially smaller standalone ones, are staring at a crisis that they were not prepared for. Analysts say larger corporate chains have to brace up for at least six months for business to return to normal.
For the near term, Gill will have to improve relations with the Reserve Bank of India, which have been strained in recent times. He will also need to strengthen the bank's asset quality and improve governance standards and internal processes.
An initial reading of the guidelines indicates two factors - potential rise in borrowing cost and lower returns on investment book - could hit the spread of NBFCs.
Inflation in onion continued to rule high at 42.22 per cent and in potato at 43.25 per cent.
In a rating watch statement, ICRA said that it has re-affirmed the LAAA rating with a stable outlook on ICICI Bank's subordinated debt programme and long-term bonds programme, which indicate highest credit quality and lowest credit risk for the two instruments. Besides, the ratings for the debts taken over by ICICI Bank from the erstwhile ICICI Limited have also been retained at LAAA with stable outlook and MAAA, respectively.
Banks will need more funds, as they have to provide more capital.
The internals of the food inflation are worrying, given a broad-based uptick across categories that tend to be sticky, such as proteins, and a narrower-than-expected reduction in inflation for vegetables.
Import growth moderated to a four-month low, owing to sharp decline in that of gold.
The Indian benchmark remained static in its last closing on May 28, while Brent prices dropped further to $75.71 a barrel. Less Brent crude in Indian basket makes prices sticky.
Despite Indian economy recovering, there is very little room for loan growth, say bankers.
Most jewellery shops and establishments in the country are shut since March 2.
Economic affairs secretary S C Garg said that all macroeconomic parameters are performing well.
Economists, however, caution against interpreting the data as a broad-based revival
The biggest contribution of IIT is the brand that they have created at the global level. The IIT brand commands respect for capability and excellence of a very high order in most academic institutions, corporate circles across a wide range of industries, and even government.
A day after Manmohan Singh won the trust vote, sans Left support, rating agencies Moody's Investor Services and Icra said the insurance sector will get a huge boost if the government paves the way for greater foreign participation in Indian companies.
All public sector banks have moved to such a regime voluntarily, while private banks are yet to. The state-run banks have introduced repo-linked products for floating-rate home and auto loans, but the RBI said loans to micro, small and medium enterprises (MSMEs) should also be linked to an external benchmark.
Family-owned companies like those of Tatas, Birlas and Ambanis are dominating the country's corporate landscape, but still face challenges regarding corporate governance norms such as appointment of successors and transparency in functioning, rating agency Moody's said. However, these companies have responded well to opportunities available in the fast-growing and liberalizing economy, according to a joint survey by Moody's Investors Service and its domestic associate.
Govt squeezed capital expenditure, and also cut revenue expenditure, that does not go into creating assets, by 11% in H1
The price of the Indian basket of crude oil jumped as much as 78 per cent to cross $50 a barrel last week, from a multi-year low of $28 in January.
For the first eight months of the current financial year, the figure stood at Rs 7.17 trillion.
Direct tax collections grew by a meagre 6.6 per cent during April-July of the current financial year against the Budget target of 14.4 per cent for 2018-19. Corporation taxes, in particular, grew at just 0.57 per cent, the lowest in the first four months in at least seven years.
"Growth is expected to moderate gradually in China... pick up in India, and remain broadly stable in the Asean-5 region."
In its morning update, the Union health ministry said the total number of positive cases has reached 2,16,919 with a record spike of 9,304 new cases since Wednesday 8 am across the country, while the death toll has increased to 6,075 with 260 more fatalities in this period. A PTI tally of figures announced by different states and union territories, as of 9.50 pm, showed a higher number of confirmed cases across the country at 2,17,389 and the death toll at 6,233.
The commercial vehicle loans that were extended recently have shown higher tendency for default than old advances, according to a study by rating agency Icra. The large number of borrowers is being brought into the fold in a segment that is growing fast (buoyant) and there is certain lowering of credit criterion (read laxity in lending norms).
Officials said good rain in August - though it might not improve acreages much for most crops except urad, moong, and paddy - would help in improving yields in the crops already planted.
India is currently under the 21-day lockdown since March 25, with only essential services exempted to contain the fast-spreading virus.
The immediate revenue loss could worsen the Centre's fiscal deficit, from the budgeted 3.3 per cent of gross domestic product (GDP) to 3.7 per cent of GDP -- a massive 40-basis-point increase. It was stabilised at 3.4 per cent since 2016-17, report Abhishek Waghmare and Dilasha Seth.
Factors like dedicated recovery teams, centralised follow-up on bad loan accounts and resolutions via NCLT are driving the trend
Common use products like hair oil, soaps and toothpaste will be charged with a single national sales tax or GST of 18 per cent instead of present 22-24 per cent
Exports rise for 8th month, albeit at lower pace
RBI targets to keep inflation at 4 per cent, (+/- 2 per cent), and its rise beyond this comfort zone will put pressure on the central bank to hike rates.
September import growth was the second lowest this fiscal year, after the April growth figures of 4.6 per cent, bringing the trade deficit down to $13.98 billion
Although exports of gold jewellery have increased from Rs 5,220 crore (Rs 52.20 billion) during FY 2001 to Rs 23,516 crore (Rs 235.16 billion) during FY 2007 (source: Icra industry monitor), the export business has been constrained by an inability to compete in global markets on basis of price and superior design capabilities.
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