SBI announced a 0.40 per cent cut in lending rate to 9.30 per cent, which is the most competitive in the market at present.
Finance Minister Nirmala Sitharaman's Rs 30,600 crore government guarantee for the bad bank has changed the body language of bankers for the better, observes Tamal Bandyopadhyay.
An alumnus of St Stephen's College, Delhi, his professional career began in the early 1990s. He completed a Master's degree in international affairs from Columbia University during 1996-98. And an MBA from Northeastern University, Boston.
'Misplaced national priorities have brought the economy to a cul-de-sac,' says Ambassador M K Bhadrakumar.
The windfall from RBI may be used to trim borrowing, help fund Rs 3.3 lakh crore capex plan, capitalise banks and provide fiscal stimulus to some stressed sectors, experts and economists said.
The government must expand the farm insurance cover and advice banks and financial institutions to settle crop insurance claims in the drought-hit areas without delay.
'Success will require political skill, not just economic expertise'
The government's huge borrowing to fund the high fiscal deficit could jack up interest rates, but if used efficiently, this could boost the Indian economy, reeling under a global meltdown, according to economists.
India is one of the largest defence importers.
Observing that the turmoil in global capital should come as a wake-up call for South Asia, which was the second-fastest growing region in the world in the aftermath of the global crisis, the World Bank said on Wednesday its recent performance has been less stellar, and it has been sustained by potentially volatile portfolio inflows.
While the government has infused huge capital into PSBs, the same has largely been used to mitigate losses and has failed to contribute meaningfully to credit growth.
Asia is rebounding fast from the global financial crisis.
Many analysts argue with limited space for a fiscal stimulus, the burden of lifting growth lies squarely on monetary policy.
In all, RBI has cut interest rates by 110 bps this year. But this has not yet led to a boost in economic activity. While the growth rate has slowed to a five-year low, consumer confidence is waning and foreign direct investment has plateaued.
Goldman-HDFC JV and OYO Hotels & Homes are betting big on student housing, says Raghavendra Kamath.
'The expectation was that Modi would become even bolder in his approach, and after only four months into his second term, we are starting to see evidence of this.'
The proposed auction has business-friendly terms and conditions, including reduced upfront amount, adjustment of upfront amount against royalty and liberal efficiency parameters to encourage flexibility to operationalise the coal mines. Besides, 100 per cent FDI through automatic route has been allowed.
'If credit is not available, people will postpone buying. That's what has happened.'
Economic performance is affected if large numbers of people are out of work, or at such low levels of income as to force under-consumption, observes T N Ninan.
Hemant Shivsaran lists the number of projects the Modi government has announced since August to woo Gujarat voters.
Spotlight likely on cement, metals, road cos
Three stockmarket experts give their best picks for the New Year.
'I suggest a cut in the GST rates and an infusion of Rs 1.2 trillion into the economy in six months.'
No need for extra stimulus, India to hit around 8 pct growth: adviser
Once the 21-day lockdown is lifted, which may happen in phases, those who have been contemplating purchasing a car may actually do it, said analysts. Thanks to social distancing norms and rising hygiene awareness, daily commuters may ditch public transport and shared mobility solutions like Ola and Uber. Many are likely to prefer the confines of a car over roughing it up in crowded public transport services such as a metro, local sub-urban trains and buses, they said.
With the deal closing, SoftBank becomes an investor in two of India's largest on-demand cab service -- Uber and Ola.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
Consumers can expect a 5G launch in the country soon. Telecom companies (telcos) say if auctions take place on time - the target is July - they would be able to offer some services in a few cities by the end of this year and a full roll-out from 2023. But the question is: will 5G turn the tables for telcos financially? Will average revenue per user (ARPU) improve? Will mobile consumers upgrade to 5G quickly and pay more? Will the expanded functions that 5G enables drum up sufficient revenues? In simple terms, will telcos make more money?
RBI had previously cut repo rate by 0.25% each in January and March.
Excerpts from Prime Minister Narendra Modi's speech at the Combined Commanders Conference on board the INS Vikramaditya at sea, off the coast of Kochi.
Facing the twin task of fighting the coronavirus pandemic today and building a better tomorrow, the world is experiencing a new Bretton Woods moment, IMF managing director Kristalina Georgieva said
There are many collateral advantages of taking the tough decision.
Curbing the federal deficit is the government's absolute priority on February 28.
Launching the auction of mines for commercial mining, that is expected to garner Rs 33,000 crore of capital investment in the country over next five to seven years, Modi said it not only marks the beginning of unlocking of the country's coal sector from the "lockdown of decades", but aims at making India the largest exporter of coal.
'India has about 22,000 tonnes of private gold, held by individuals and temples.' 'Much of this is locked up in safes and vaults as a dead investment. If we can put the vast reserves of gold to use, it would boost the economy,' says V P Nandakumar, executive chairman, Manappuram Finance, India's first listed gold loan company.
Fitch Ratings on Thursday said the resurgence of COVID-19 infections may delay India's economic recovery, but won't derail it, as it kept the sovereign rating unchanged at 'BBB-' with a negative outlook. It projected a 12.8 per cent recovery in GDP in the fiscal year ending March 2022 (FY22), moderating to 5.8 per cent in FY23, from an estimated contraction of 7.5 per cent in 2020-21. Fitch had in June last year revised outlook for India to 'negative' from 'stable' on grounds that the coronavirus pandemic had significantly weakened the country's growth outlook and exposed the challenges associated with a high public debt burden.
India Inc is encouraged by a determined Budget.
The World Bank report said Brand Northeast would build on elements such as healthy living, environmental sustainability, social responsibility, service orientation, among others.
.jpg)
The new Insurance Bill may be implemented in 2015.
In their pre-budget expectations, they also asked the government to assess the option of developing unused airstrips located in various parts of the country to boost air connectivity.
