Credit card spending in September recorded strong growth of 25 per cent year-on-year (Y-o-Y), marking the highest increase in six months. Even as many banks saw higher slippages during the July-September quarter of 2024-25, spending growth exceeded 20 per cent for the first time since February. According to the latest data released by the Reserve Bank of India (RBI), September spending reached Rs 1.76 trillion, compared to Rs 1.42 trillion in the same period a year ago. In August 2024, credit card spending was Rs 1.68 trillion.
Retail investors have become a force to reckon with in the last 10 years with their ownership of Indian equities rising 800 basis points, or 8 per cent, to 23.4 per cent during this period, suggests a recent note from Morgan Stanley. This number, Morgan Stanley said, is set to rise in the next few years as Indian households are still underinvested in equities. India's demographics, policy framework, investor education and modest positive real rates, it said, will fuel the 'equity cult' in India.
The government on Tuesday announced a new centrally-sponsored scheme for skilling 20 lakh youth over the next five years. The announcement was made by Finance Minister Nirmala Sitharaman in the Union Budget 2024-25. The minister said that model skilling loan scheme will be revised to facilitate loans up to Rs 7.5 lakh.
Sports minister Mansukh Mandaviya called the shooting World Cup final, which commenced in New Delhi on Monday, a celebration of excellence and added that the country felt honoured to welcome the best in the business.
Global brokerage firm CLSA has reversed its early tactical shift from Indian equities to Chinese stocks, and has decided to raise India allocation while cutting exposure to China. In its report titled 'Pouncing Tiger, Prevaricating Dragon', CLSA cited challenges facing Chinese markets in the aftermath of Donald Trump's victory in the US elections as the reason for the move. "Misfortune can happen in threes. So it has played out for Chinese equities over the past week.
Uttam Ghosh offers his take on how the growing mood of fear is crushing the Spirit of India.
A government school principal was arrested in Kota after he allegedly deleted Ganesh Chaturthi greetings posted on the school WhatsApp group, which triggered protests by people of the village, officials said on Sunday.
'Some of the astounding proposals, if translated into statutory provisions, would be suicidal.' 'This would not be a wonder cure for increasing insurance penetration and only result in mushrooming growth of players like paan kiosks with deleterious consequences.'
India and France are negotiating the deal for buying 26 Rafale Marine jets which are going to be deployed on the INS Vikrant aircraft carrier and different bases.
Is the 'caged parrot' at work again, asks Uttam Ghosh.
After a year of decline, mergers and acquisitions (M&As) in India increased 13.8 per cent, reaching $69.2 billion in the first nine months of 2024, as against $60.8 billion during the same period in 2023. Led by Indian companies and private-equity (PE) firms, 2,301 transactions were signed between January and September this year as compared to 1,855 transactions reported in the same period last year, according to the Bloomberg data.
Will it be "Donald" and "Narendra" when the American president and Indian prime minister speak on Tuesday evening?
Uttam Ghosh offers his take on the spectacle where a martyr's daughter is trolled by all and sundry for speaking her mind.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
You can explore the option of talking directly to the manager, suggests rediffGURU Archana Deshpande.
More than 50 per cent of SIP accounts come from semi-urban and rural areas.
The funding environment in India for startups is improving this year if one were to go by Bain & Company estimates. Five private equity (PE) investors that come on top on the criterion of deal size collectively put in $9 billion in the first half of 2024, surpassing their outlay for last calendar year, when it was $8 billion. At the top of the list is Swedish firm EQT, which acquired US-based and listed Perficient at an enterprise value of $3 billion, the deal being done by the Indian wing of the company. It has also added to its list by putting in $500 million in WSO2, a "software as a service" company, increasing its tally to $3.5 billion.
Uttam Ghosh offers his take on the decisions of airlines banning stand-up comedian Kunal Kamra for his alleged heckling television journalist Arnab Goswami aboard a flight on Tuesday.
Uttam Ghosh offers his take on BJP-ruled states to freeze labour laws.
With India overtaking China in terms of weightage in the Morgan Stanley emerging markets IMI, Indian equities could see inflows of about $4.5 billion (Rs 37,000 crore), according to estimates. This week, Morgan Stanley announced that India has overtaken China in the MSCI Emerging Markets Investable Market Index (MSCI EM IMI). The weight of India in MSCI EM IMI stood at 22.27 per cent compared to 21.58 per cent of China.
In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
'Assess the property in terms of type, size, location and price point, and whether it fits into your budget.' 'If it checks out on these fronts, one may consider the accompanying offers.'
Roughly 40% of this projected outlay is expected to go towards emerging industries, including green hydrogen, clean energy, semiconductors, and electric vehicles.
Uttam Ghosh offers his take on the 'tukde tukde gang', a slur often used by Bharatiya Janata Party leaders to attack JNU students and Left leaders.
Uttam Ghosh offers his take on Sunday's event where millions of Indians lit diya
'Value index funds are most appropriate for long-term investors who can withstand deeper drawdowns.'
Quarterly earnings of corporates, trading activity of foreign investors and inflation data are the key factors that are expected to drive the momentum in the equity markets this week, analysts said.
Notably, the case was registered 19 days after the Madhya Pradesh high court ordered the police to dispose of the woman's complaint within 90 days after she alleged inaction by the police.
Messaging app Telegram has taken decisive action against bots that were reported for sharing sensitive data related to Star Health and Allied Insurance Company, and is actively keeping an eye on their re-emergence, a company statement said. "The bots reported to Telegram for sharing Star Health data were immediately removed and moderators are monitoring to prevent them from being recreated. "The sharing of private information on Telegram is expressly forbidden and such content is deleted whenever it is found," the statement said.
Most of the Sensex firms settled in the positive territory. Mahindra & Mahindra, Tata Motors, Tech Mahindra, JSW Steel, State Bank of India, HCL Technologies, Reliance Industries and Infosys were the biggest gainers. Kotak Mahindra Bank and Maruti were the laggards.
The Reserve Bank on Wednesday retained the retail inflation projection at 4.5 per cent for fiscal 2024-25, with Governor Shaktikanta Das stressing that the central bank will have to closely monitor the price situation and keep the "inflation horse" under tight leash lest it may bolt again. Unveiling the October bi-monthly monetary policy, the Governor also said the flexible inflation targeting (FIT) framework has completed 8 years since its introduction in 2016 and is a major structural reform of the 21st century in India.
Uttam Ghosh offers his take on this week's election violence in Bengal.
The rupee remains overvalued against the currencies of India's trading partners, even as it hit record lows against the dollar in August and September. According to the Reserve Bank of India's (RBI) real effective exchange rate (REER) index, the rupee stood at 5.5 per cent above its fair value in August, down from 7.7 per cent in July. This slight easing followed fears of a US recession and the unwinding of yen carry trades, which exerted pressure on the Indian currency.
The world is celebrating Raj Kapoor's birth centenary, but when was the last time you watched an RK film?
Uttam Ghosh offers his perspective on India's contrasts -- the government's ambitious economic agenda vis-a-vis farmers' woes and social unrest.
Uttam Ghosh offers his take on the events of August 5, 2020.
Scoring field goals was a major concern in Paris but here the young forwardline comprising Sukhjeet Singh, Abhishek, Uttam Singh, Gurjot Singh, Araijeet Singh Hundal and others have exceeded expectations.
SBI Life Insurance reported a weak performance in Q2FY25. The annual premium equivalent or APE grew 3 per cent year-on-year (Y-o-Y) to Rs 5,390 crore. For the first half of financial year 2025 (H1FY25), it grew 9 per cent Y-o-Y to Rs 9,030 crore.
Uttam Ghosh offer his take on the Pragya Thakur controversy.
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