The Indian banking sector faces the challenge of tackling rising defaults due to slowing economy, even as the banks in the country do not have toxic assets, which triggered financial crisis elsewhere, rating agency Moody's said.
In its quarterly monetary policy review on January 29, the RBI had announced a 0.75 per cent raise in the cash reserve ratio, or the amount banks need to park with the RBI, from 5 per cent earlier.
The government plan to sell stakes in state-owned enterprises would help it address many of India's existing economic concerns and alleviate the current "fiscal stress", according to Moody's.
Yes Bank was the top gainer in the Sensex pack rising 5.80 per cent, followed by Tata Motors, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Bank and Tata Steel.
The record contraction in the growth rate of eight core sectors will have its impact on IIP.
The Indian stock markets may have gained significantly in recent months but the country's fiscal position and uncertainty about global recovery still suggests a cautious approach towards equities, says Moody's.
'The good news is that money continues to flow into India-focussed offshore funds.'
'Don't get me wrong I'm not condoning what was done/said. I'm saying let's use this opportunity to educate each other so it doesn't happen again. One can only apologize if he/she feels wrong about something. I'm confident & proud to be black. That will never change'.
Business failures rise when growth declines. When Indian growth slowed in the last decade, defaults increased. This is the normal working of the market economy, points out Ajay Shah.
Leander Paes and his Czech partner Lukas Dloughy moved into the semi-final of the men's doubles and were joined by Mahesh Bhupathi and his partner Mark Knowles of Bahamas.
Is Kohli not a great captain in spite of so many wins? My answer is, yes, declares Dr Sudhir Bisht.
The compact sedan Zest competes with the established brands like Maruti D'zire, Honda Amaze and Hyundai Xcent.
Portfolio returns, say analysts at Morgan Stanley, are more likely to be driven by bottom-up stock-picking rather than top-down macro forces.
Though the NDA government had been trying to privatise 20 companies, a decision for which was taken in 2017, and included national carrier Air India, the investor community evinced little enthusiasm for any of them. Now, with an in-principle approval for privatisation of BPCL, CCI and SCI, the government has taken the plunge again.
What worked for the markets was favourable global investor sentiment and encouraging flows into the emerging markets following stimulus measures taken by central banks.
S&P Global Ratings on Wednesday lowered India's economic growth forecast to 5.2 per cent for 2020, saying the global economy is entering a recession amid the coronavirus pandemic. The agency had earlier projected a growth rate of 5.7 per cent during the 2020 calendar.
'The slide in growth has arisen primarily because we have an NBFC crisis on top of a banking crisis,' points out T T Ram Mohan.
Cricket Advisory Committee (CAC) member Sourav Ganguly on Saturday said that the interview to select the new India coach will be held on July 10 in Mumbai.
The official said the finance ministry will impress upon rating agencies the resolve of the government to contain fiscal deficit at 4.1 per cent this year and lower it to 3 per cent by 2016-17.
A World Bank study has virtually questioned the methodology of sovereign rating by the international agencies, saying there was evidence that Moody's such rating had low predictive power for currency crises.\n\n\n\n
The IIP data would be released on March 12 for the period of January 2009. Since October, RBI also has infused over Rs 4,00,000 crore (Rs 4,000 billion) by reducing ratios and short-term borrowing and lending rates.
'I might in the future step out of a Dileesh Pothan movie not completely satisfied, but content I'll be in the knowledge that our greatest living film-maker had failed striving to be something more than just an auteur,' notes Sreehari Nair.
The FATF continuing Pakistan in the 'Grey' list means its downgrading by IMF, World Bank, ADB, EU and also a reduction in risk rating by Moody's, S&P and Fitch.
Aseem Chhabra lists his favourite Indian films of 2021.
Rohit Sharma and Manish Pandey sparkled with half-centuries but rest of India's batsmen put up a lackluster performance before the bowlers came good to hand the team a 64-run win over a second string Western Australia XI in the warm-up one-day cricket match at the WACA, in Perth, on Saturday.
Former India spinner Venkatapathy Raju explains the mysteries of spin bowling.
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.
Indian companies will have to repay overseas debt worth $7.5 billion in the June quarter.
RBI's announcement that it would tighten liquidity and re-emphasize its anti-inflationary monetary policy stance could come at the cost of slower short-term economic growth, according to Moody's.
With inflation crossing over 8 per cent, the Reserve Bank may consider further monetary measures to bring it down, global rating agency Moody's said in a report.Even RBI Governor Y V Reddy in a speech last week had described rise in inflation as "totally unacceptable" as it affects the poor instantly.
Mahesh Bhupathi and Mark Knowles entered the final of the Monte Carlo Masters with a 6-0, 7-5 win over Jeff Coetzee and Wesley Moodie.
Reliance is in the market with a benchmark issue to sell 30-year US dollar-denominated Reg S fixed rate senior unsecured notes.
The retrenchments at the company promoted by Mumbai BJP chief Mangal Prabhat Lodha come at a time when the economic growth has dipped to a six-year low of 5 per cent, which has led many to fear if the spectre of job losses across sectors awaits next.
Director Balaji Mohan talks about his second film starring Dulquer.
TCS, Infosys do well but Wipro & HCL disappoint analysts; however, outlook for FY17 bullish in general.
A'Market valuation is another concern.'
'India is trading at steep valuations and there have been a number of IPOs, especially in the insurance sector, that have had an impact on secondary market liquidity.'
For the current fiscal which ends on March 31, it put the real GDP estimate at 5 per cent. It estimated a 7 per cent growth in 2022-23 and 2023-24 fiscal years. The inflation rate was seen moderating to 4.4 per cent in the next fiscal from 4.7 per cent in the current.
Ruling out any change in India's sovereign rating due to a political standoff over the Indo-US nuclear deal, credit rating agency Moody's on Wednesday said the crisis was not serious enough to dent the country's economic policy framework.
The Indo-Pakistani duo lost to the top seeded Australian-South African pair of Stephen Huss and Wesley Moodie 7-6(10), 6-3 at the $150,000 Malaysian Open ATP Challenger tournament in Kuala Lumpur .
