Even as the high inflation figure for October has ruled out any possibility of a rate cut by the Reserve Bank of India's (RBI's) monetary policy committee (MPC) in December, a rate cut in February also looks uncertain due to global uncertainties. Economists told Business Standard that unless domestic growth slows markedly, the outlook on rate cut remains unclear. India's headline inflation touched a 14-month high of 6.2 per cent in October, breaching the MPC's upper tolerance band of 6 per cent.
The Reserve Bank of India (RBI) has barred four non-banking finance companies (NBFCs), including two microfinance institutions (MFIs), from sanctioning and disbursing loans for charging exorbitant interest rates to the borrowers. These four entities are Asirvad Microfinance, Arohan Financial Services (also an MFI), DMI Finance, which provides personal, consumption, and micro, small and medium enterprises loans, and Flipkart co-founder Sachin Bansal's Navi Finserv, which offers home and personal loans. The ban will take effect on October 21 to "facilitate closure of transactions in the pipeline", the regulator said in a statement.
The government has slashed by up to a fifth the supplies of cheaper gas to city gas entities that retail CNG to automobiles, increasing their dependence in costly imported fuel. Buying costly imported gas to make up for the shortfall should result in a hike in CNG price but given the ensuing assembly elections in Maharashtra, that may be put off for now. Indraprastha Gas Ltd and Mahanagar Gas Ltd in regulatory filings stated that supplies of domestically produced gas, which was available at a capped rate which is half of the imported price, has been cut.
'Retail investors, who had not seen such a massive correction in the SMID universe since COVID-19, are witnessing something like this for the first time. Panic profit booking may continue.'
'If the borrower can't repay the loan due to lack of income or losses from speculative activities, they risk defaulting on it.' 'This could lead to the bank seizing the property.'
'Volumes in F&O trading had gone up rapidly and, in a way, the increase in STT on F&O will protect investor interest.'
The Q2FY25 revenue for Coal India (CIL) was reported at Rs 30,700 crore (down 6 per cent year-on-year or Y-o-Y and 16 per cent sequentially). The blended average selling price was Rs 1,622/tonne (down 6 per cent Y-o-Y and 3 per cent quarter-on-quarter or Q-o-Q). Adjusted operating profit stood at Rs 7,200 crore (down 20 per cent Y-o-Y and 38 per cent Q-o-Q) due to lower-than-expected e-auction volumes and higher costs.
The Akhil Bharatiya Akhara Parishad on Wednesday said it has decided to not allow 'non-Sanatanis' from putting up food stalls in the Kumbh Mela and rename terms 'Shahi Snan' and 'Peshwai' as 'Rajsi Snan' and 'Chhavni Pravesh'.
India remains the largest growing economy in the world, a senior official from the International Monetary Fund said, observing that the country's macroeconomic fundamentals are good. "India is said to remain the largest growing economy in the world. We project growth at seven per cent in FY24-25, supported by recovery in rural consumption, as there have been favourable harvests.
China has violated border agreements, External Affairs Minister S Jaishankar said on Tuesday, noting that continued tension will cast a natural shadow over the rest of this relationship.
A rise in petrol and diesel consumption can help the government cut cesses on the fuels by Rs 4.5 a litre without impacting revenue collections of FY21, and help cool off the pressure on inflation, domestic rating agency ICRA said on Friday. Petrol consumption is estimated to increase 14 per cent in 2021-22 and diesel by 10 per cent on the lower base, rise in mobility and economic recovery, ICRA said. The rating agency added that it will result in an additional Rs 40,000 crore in revenue for the government through higher collections of the cess.
The ban is also estimated to have prevented 18 lakh men in the state from becoming overweight or obese, it said.
India's leading steel companies hope the Modi 3.0 Budget will continue the massive capital expenditure currently underway, focusing on infrastructure development, manufacturing, and fair trade. The infrastructure segment is the largest steel user, and the government's focus has fuelled steel consumption even as international markets have underperformed. According to provisional statistics, steel consumption grew 13.6 per cent in FY24, reaching 136 million tonnes (mt), according to a CRISIL report.
'What is Balaji without Ekta (Kapoor), what is Dharma without Karan (Johar?)'
The increase in energy consumption was driven by renewables and natural gas, which together contributed three quarters of the expansion.
Union Finance Minister Nirmala Sitharaman on Tuesday commended Indian financial sector regulators for doing a "world-class job" and bringing greater transparency into the system. Underlining that she is not against questioning or critiquing regulators, Sitharaman said there is a need to be "extremely conscious" about contributions made by them as well. Speaking at the Financial Express Best Banks Awards, the finance minister said, "I strongly recommend that facts are taken on board before we discuss anything to do with the regulators, strictly speaking."
Chief Minister M K Stalin has ordered a CB-CID probe to ensure comprehensive investigation and the government transferred Kallakurichi District Collector Sravan Kumar Jatavath and Superintendent of Police Samay Singh Meena was suspended, a statement said.
Eighteen more people lost their lives after allegedly consuming illicit liquor in dry Bihar's Siwan and Saran districts, taking the toll in the tragedy to 24, officials said on Thursday.
The Centre on Thursday began the first phase of retail sales of onion at a subsidised rate of Rs 35 per kg to provide relief to Delhi-NCR and Mumbai consumers from rising prices of the kitchen staple. NCCF and NAFED, which are maintaining a buffer stock of 4.7 lakh tonne onion on behalf of the government, will undertake the retail sale through their own stores and mobile vans. Onion will be sold at 38 retail points in Delhi-NCR and Parel and Malad in Mumbai.
The Reserve Bank of India's (RBI's) caution on inflation, highlighted during the recent monetary policy meeting, may put investors' faith in fast moving consumer goods (FMCG) stocks to test, analysts said. They, however, believe FMCG stocks may ride through this near-term investor anxiety as related companies are, typically, well-equipped to handle inflation due to their pricing power and steady demand for essential goods.
'Higher interest rates make gold less attractive as it doesn't generate yield.' 'However, with rates set to fall, the tables are turning for gold.'
Reliance Industries Ltd has consolidated its balance sheet after the previous round of capex and is ready for the next level of growth, its chairman and managing director Mukesh Ambani said outlining plans from net zero to roll-out of True5G telecom network and retail. In the firm's latest annual report, he said in the world of volatility and uncertainty, India is shining as a beacon of stability and prosperity.
It's important to take breaks, spend time with loved ones and engage in activities like yoga or meditation to help relax and relieve stress.
Reserve Bank on Thursday retained the growth and inflation projection at 7.2 per cent and 4.5 per cent respectively for the current fiscal amid expectations of a normal monsoon. In its last bi-monthly monetary policy review in June, RBI had projected real GDP growth and retail inflation at the same.
The number of people averse to the surveys by the National Statistical Office (NSO) has more than doubled over the last five years between the 75th National Sample Survey (NSS) round (July 2017- June 2018) and the 79th NSS round (July 2022-June 2023), the Ministry of Statistics and Programme Implementation MoSPI) said on Friday in a conference organised to discuss the issue of 'non- responsiveness' to its sample surveys. The ministry said that nearly 6.9 per cent people in urban areas surveyed by the NSO for the 79th NSS round did not participate in the exercise, while the number of people in rural India that refused to participate in these surveys stood at 3.9 per cent.
The recurrent increases in fuel prices over the past 10 days are eating into the margins of transporters, who will be forced to pass on the hikes to their customers. This, in turn, is set to make the prices of daily consumables and other goods dearer, affect consumption, and slow economic growth, said transporters and analysts. Freight rates on grand trunk routes have shot up 3-4 per cent month-on-month in the past few days, according to the Indian Foundation of Transport Research & Training (IFTRT).
'While investors need to be prepared for making some losses, they should not lose big money chasing euphoria amid fear of missing out.'
The Tamil Nadu Prohibition (Amendment) Act, 2024, which shall come into force on such date as notified by the government, aims to completely eradicate the menace of illicit liquor from the state.
Most brokerages are betting that the new government will shift to a policy focussing on boosting rural incomes and consumption since that has clearly been a pain point.
'In the audience's mind there is no urgency to go see a film in the theatre.' 'If you pay for social media buzz it does not convert into bums on seats.'
India's power consumption grew 11.45 per cent to 55.37 billion units (BU) in the first half of October this year, mainly driven by buoyancy in industrial and commercial activities, as per government data.
Much of the discussion is happening at a "family level, not a corporate level". That means it is an Ambani or a Goenka in direct talks with Johar.
Kiran Bhatt, a cosmetologist with a PhD in nutrition, explains how poor hygiene and lifestyle can impact your skin's health causing infections.
The government has slashed by up to 20 per cent the supplies of cheaper domestically produced natural gas to city retailers -- a move that may result in Rs 4-6 per kg hike in the price of CNG sold to automobiles, unless excise duty on the fuel is cut, sources said. Natural gas pumped from below the ground and from under the seabed from sites ranging from the Arabian Sea to Bay of Bengal within India is the raw material that is turned into CNG for sale to automobiles and piped cooking gas to households.
The revised Dietary Guidelines for Indians released by the National Institute of Nutrition explains how prolonged intake of large amounts of protein powders or consumption of high protein concentrate can damage the body.
India's Rs 4.5-trillion fast-moving consumer goods (FMCG) sector was one of the first to bounce back from the lockdown induced blues, reporting a year-on-year (YoY) growth in the October-December quarter last year. That said, the overall consumption figures continue to remain depressed. The FMCG market, which includes daily consumables like branded atta, hand sanitizers, edible oils, shampoos, razors, and so on, recorded 7.3 per cent value growth during the period, while the smartphone market grew by 21 per cent.
In the first quarter (Q1) of the ongoing financial year ending June 30, Westlife Foodworld, which operates McDonald's outlets in the South and West, reported an 88 per cent drop in net profit. While net sales remained flat, its same-store sales growth (SSSG) fell by 6.7 per cent, impacted by "subdued in-store business, although the off-premise segment saw positive same-store sales", the company said.
The Budget proposals are expected to boost the fortunes of consumer goods and fast-moving consumer goods companies, which have been struggling with poor consumer demand for more than a year. The Budget announcements, such as the increase in standard deduction by Rs 25,000 for income-tax payers and slab revisions, will put more money in their hands, boosting consumer demand. Private consumption is also likely to benefit from a new scheme to offer internships to 10 million youths in the country's top 500 companies.
Regular, uncontrolled consumption of sugar can raise blood pressure, increase inflammation and contribute to obesity, all of which strain the heart, warns Dr Anu Gaikwad.
India's exports registered a steepest decline in 13-month falling 9.3 per cent in August to $34.71 billion due to global economic uncertainties, while the trade deficit soared to a 10-month of $29.65 billion. According to the government data released on Tuesday, imports increased by 3.3 per cent to $64.36 billion, which is a record high, due to a significant jump in the inbound shipments of gold and silver.
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