The RBI in its first quarterly review of the credit policy kept the repo and reverse repo -- short-term rates at which banks lend and borrow from RBI--unchanged, retained economic growth projection at 6 per cent with an upward bias and projected inflation at around 5 per cent by March, 2010.
The current episode highlights the structural vulnerabilities in the liquidity management practices of Indian NBFIs
The land acquisition bill is a catalyst to investment and passing the bill will improve India's business environment.
Moody's said implementation challenges, in addition to affecting growth and government revenues, will impact corporates by lowering sales volumes and cash flows.
Moody's, which cut its FY14 growth estimate to 4.5 per cent recently, said economic growth will be lowest in a decade.
Moody's said it reflects India's weaker performance on fiscal.
Reliance Industries Ltd is expected to invest Rs 30,000 crore (Rs 300 billion), of the total Rs 70,000 crore (Rs 700 billion) announced, in its telecom arm Reliance Jio Infocomm over the next two years, credit rating firm Moody's said on Monday. The investment in the telecom business is a credit negative for RIL because RJio will not generate any EBITDA (an indicator of cash flows) for at least next 12 months, it said. Moody's added however that RJio will be a formidable competitor in the sector making it a credit negative for top telecom operators already in the field. "Based on RIL's March 2014 annual report, we estimate that it has already invested about Rs 400 billion (Rs 40,000 crore) in Reliance Jio, and we expect RIL to invest the next Rs 300 billion in Reliance Jio over the next two years," Moody's Investors Service said in a statement. RIL recently announced that it will launch commercial 4G telecom service of RJio in 2015 entailing investment of Rs 70,000 crore. RIL has said that RJio will initially cover about 5,000 towns and cities accounting for over 90 per cent of urban India, as well as over 215,000 villages in India and the target is to expand this to over 600,000 villages. Moody's said RJio will be a "formidable competitor in India's telecom sector" as it will enter the business with financial muscle. RJio's entry into highly competitive telecom sector is also credit negative for incumbent mobile operators and market leaders Bharti Airtel and Vodafone India because "it will undoubtedly result in intensified competition that will lead to declines in average revenue per user and margins". But, it also said that strong spectrum holding of incumbents; existing large subscriber-bases and well- established brand equity; offering 2G and 3G services (apart from 4G services being launched) as well as marketing and distribution architecture mitigate much of the near-term competitive threat from Reliance Jio for them. "Furthermore, given issues of language and literacy, large parts of rural India remain a substantially voice-based market where near-term demand for 4G services may be muted," Moody's said.
Sukanya Verma raises a toast to the top female performers of 2024.
Pathan conceded that Jasprit Bumrah is the only automatic selection among the bowlers.
Former South African quick Dale Steyn opined that MI's frontline pacers Bumrah and Coetzee need support from other bowlers, given the rigours of the IPL. He hinted that an off-colour Pandya was not helping MI's bowling department.
Prime Minister Narendra Modi led-NDA government in its third term must tackle the problem of unemployment in the country, especially in the unorganised sector and in small and medium enterprises, former NITI Aayog Vice Chairman Rajiv Kumar said on Monday. Kumar also emphasised that the government now must finalise the four labour codes as it has been delayed beyond expectations. "We must recognise that post-COVID economic recovery has been a K-shaped recovery.
BCCI sources said while skipper Sourav Ganguly favours Chappell, vice-captain Rahul Dravid and Anil Kumble prefer Moody for the India coach's job.
Talks are underway with the Australian to take over the job held by John Dyson, whose term ended last month.
'KKR's form over the past two weeks is not going to be relevant tomorrow. They have got a lot of experience in that team. There are lot of players who know how to win play-offs. So, we make sure that we focus on us and play with the same mindset we have been playing so far'
Listing the series of reforms which led to the upgrade, he said while demonetisation took the economy towards greater formalisation and digitisation, use of Aadhaar ensured targeted delivery of government benefits.
Global ratings agency Moody's on said it has a "negative" outlook on the country's banking system due to concerns over asset quality and the high interest rates.
The state-owned bank's loss largely offsets the Rs 1,800-crore (Rs 18-billion) capital injection the government will make in FY14.
Moody's wanted to learn from the Finance Ministry officials, the steps taken to check subsidy outgo and impact of the proposed right to food bill on the exchequer.
The agency said that over the next two years new NPL formation rates would witness a gradual decline.
It has blamed lack of political will for the slow reform process.
The coach of Sunrisers Hyderabad Tom Moody is hoping for Yuvraj Singh's speedy recovery ahead of season nine of the Indian Premier League. The Hyderabad-based franchise made some smart picks in the 2016 IPL Player Auctions. But the biggest name that caught everyone's attention was Yuvraj. However, the senior all-rounder is recovering from an injury, that he sustained during the World T20 and is expected to miss out on the first two weeks of IPL. "A player like Yuvraj Singh is important to any team. He is not only a match-winner with the bat but he is a very useful bowler in those middle overs," Moody said. "Sadly, Yuvraj will be out for a couple of weeks but we don't know how long that is going to be," Moody hoped for Yuvraj's speedy recovery from an ankle injury.
Pointing out that these recent measures are incremental rather than radical, Moody's said, these steps will sustain higher gross domestic product growth and address some of the constraints on the country's sovereign credit profile.
Moody's said the government will face challenges in achieving its deficit target for the fiscal year ending March 2021, amid persistent structural and cyclical headwinds to growth.
The share of foreign loans in total Adani group debt portfolio dropped to 61 per cent by September 2023 from 63 per cent as of March 2023, as the group repaid part of its foreign loans and refinanced part of older loans. The share of Indian lenders, on the other hand, rose to 39 per cent in the total debt pie in September 2023 from 37 per cent in March after a report by US-based short seller Hindenburg Research in January last year, which led to volatility in the share prices of group companies. The group's total debt remained static at Rs 2.26 trillion in the same period.
"The downgrade would mean they would have no buyers for their debt papers. It would also impact borrowing from overseas banks," said a Mumbai-based analyst.
Credit rating agency Moody's Investors Services said on Monday that it had upgraded India's country ceiling for foreign currency debt to Ba1, the top of the speculative grade, from Ba2 due to a substantial improvement in the external liquidity.
Ganjis -- or vests -- are comfy, versatile and airy. Team it with tracks, denim pants or shorts for a winning combo.
India's finance minister Pranab Mukherjee is all set to become the next President of the country.
Predicting that a worsening fiscal position because of repeated tax cuts would further weaken investor confidence in India, Moody's on Wednesday said now it is for the Reserve Bank of India should to take measures to revive the economy.
Moody's has revised to positive the outlook on the long- term ratings of private sector lenders
Unseasonal rains and hailstorm are likely to disrupt supplies.
Pointing out that loosening cycle of monetary policy by RBI began only in October, Moody's said, it might not have led to an immediate rebound in domestic consumption. However, the RBI on Thursday stated that monetary measures taken by it were 'appropriate'.
Moody's downgraded local currency bank deposit ratings.
RBI is likely to keep interest rates stable in the near term, revealed Moody's. It may also ease its monetary policy stance later in the year.
Former captain and coach Anil Kumble believes having totally different squads in limited overs and Test format is the way forward for India in international cricket.
Australia batsman Shaun Marsh's mentor Tom Moody said the cricketer's biggest challenge now is to fight through the nagging injury problems that are hampering his rise.
On Tuesday, Economic Affairs Secretary Arvind Mayaram told reporters that economic growth this financial year would be over five per cent and the numbers in the second quarter would be better than the first quarter which yielded gross domestic product expansion of 4.4 per cent, a four-year low.
Rating agency Moody's on Tuesday cautioned that a third front government created by regional parties could lead to capital flight and delay economic recovery.
