It does feel like we are close to the end of the rupee's rally, says Jamal Mecklai.
Undisclosed overseas assets such as immovable property, jewellery, shares and art works will be valued at fair market price for the purpose of tax and penalty under the new black money law.
India's finance minister has emphasised that "it is the real economy that is going to matter.
The banks also received a warning from the rating agency Care, in February 2016, after Firestar's financials deteriorated.
More than a year of Covid-19 has pushed most businesses into gloom but Reliance Industries Ltd (RIL) managed to reduce its gross debt 25 per cent, enabling it to turn towards its next phase of capital expenditure that has come in the form of a Rs 75,000-crore plan for green energy and power storage. The company managed to stay afloat during the pandemic because of its large presence in the consumer-centric businesses of retail and telecommunication (see chart: "A new Reliance"). These two businesses constituted 45 per cent of its EBITDA during FY21 from 36 per cent in FY20.
Loan defaults and restructuring to limit profits.
The better performing states throw up more employment opportunities including at unskilled levels.
Reserve Bank Governor Shaktikanta Das on Monday said despite the latest headwinds arising from the Jackson Hole summit leading to extreme volatility, our banking system and financial markets are strong enough to withstand such pressures. Taking the markets by surprise, US Fed chair Jerome Powell had told the annual Jackson Hole summit of central bankers and economists last week that he would have to keep raising federal fund rates to tame inflation, which remains the biggest challenge to the world's largest economy. He also warned of the pains that such monetary policy actions would create on growth and jobs.
The rupee fell because of fresh demand for dollar from importers.
When an NRI returns to India, he should be aware of his tax residency status.
A weak dollar overseas supported the rupee sentiment.
Billionaire Mukesh Ambani on Friday backed the proposed data privacy and cryptocurrency bills, saying India is putting in place the most forward-looking policies and regulations. Ambani, who has been a votary of Indians owning and controlling their own data and the nation drafting strict rules around how digital information is stored and shared, said nations have the right to build and protect strategic digital infrastructure. Stating that data is the 'new oil', he said every citizen's right to privacy has to be safeguarded. "India is putting in place the most forward-looking policies and regulations," he said at the Infinity Forum, hosted by International Financial Services Centres Authority (IFSCA).
The view among the regulator and the government is that the currency is overvalued
Banks want lower provisioning burden on recast debt, interest on cash reserve ratio deposits.
Sensex remained volatile through the day.
A key trigger for the increased retail participation in equities has been the lockdown triggered by Covid-19 that saw investors channelising their savings to capital markets in search of better return on their investments and the need to increase their disposable income.
The domestic currency had lost 44 paise in the previous two days.
What differentiates Rajan from his predecessors is his proactive steps in anticipating a problem and coming up with out-of-the-box solutions
As if wanting to be an antidote to the coronavirus pandemic, the Indian stock market adorned carnival robes in 2021 with a tsunami of liquidity unleashed by global central banks coupled with supportive domestic policies and the world's largest vaccination drive sparking off a world-beating rally on Dalal Street, despite bouts of uneasiness over fizzy valuations. While the wider economy shuttled between recovery and relapse, dictated by multiple mutations of the virus, equity market benchmarks appeared headed in just one direction -- skywards. The dizzying upward journey has added a whopping Rs 72 lakh crore during 2021 to investors' wealth, measured as the cumulative value of all listed shares in the country, taking it to nearly Rs 260 lakh crore.
The dollar firmed up against some global currencies.
The proposed Rs 10,000 crore (Rs 100 billion) of bond purchase would be done on Monday.
The rouble has been falling steadily since early November and collapsed earlier this month following a spectacular decline in the price of crude oil to five-year lows.
Tata Steel was the top loser in the Sensex pack, shedding over 2 per cent, followed by Sun Pharma, ICICI Bank, SBI, Kotak Bank and Dr Reddy's. NSE Nifty dropped 151.75 points to 15,727.90.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
We are much better placed than in 2013 with our overall fundamentals much stronger - higher foreign exchange reserves, a more favourable growth-inflation mix and an institutional framework for targeting inflation, says B Prasanna.
The rupee extended its fall for the fourth consecutive day by losing another 6 paise to hit a fresh one-month low of 62.31.
Volatile currency market sentiment across Asia following a fresh round of China's yuan depreciation further added to gloom.
The net claims of non-residents on the country, as reflected in the net Index of Industrial Production, decreased by $12.8 billion to $296.2 billion on the back of a $10.6-billion fall in the value of foreign-owned assets for the quarter ended September, the Reserve Bank said on Tuesday.
'It could tempt investors to pick stocks that are not fundamentally sound.'
This concession will be available only to those who had not received any intimation.
Investors are anxious over the US-China trade tension, a sharp devaluation in yuan and uncertainty over Kashmir issue.
RBI Governor Shaktikanta Das has assured Finance Minister Nirmala Sitharaman that the Rs 12.05-trillion gross borrowing programme for FY22 will go through smoothly.
HSBC's Swiss bank routinely allowed clients to withdraw "bricks" of cash
The US, in coordination with allies and partners, continued to forcefully respond to Russia's "unjustified, unprovoked and premeditated" invasion of Ukraine by imposing sanctions on Putin and Lavrov.
If there is a morality tale here, it is that debt and death spare no king.
Currently, non-residents visiting India are not allowed to take out any Indian currency while leaving the country.
With inflation remaining at elevated levels, central banks around the world, including the Reserve Bank of India (RBI), will kill excess demand in economy over the next six to eight months, sources in the know said. They also indicated that there could be a rate hike in June, when the inflation forecast for the current financial year would be raised. The RBI, the sources said, might announce more steps such as raising the limit on held-to-maturity (HTM) bonds to support government borrowings but might not come out with any further quantitative easing GSAP (Government Securities Acquisition Programme) measures.
Forex market was shut on Tuesday on account of 'Mahavir Jayanti'.
India's foreign exchange reserves are at an all-time high.
Impact of lack of significant investments in the last 4-5 years; inability of private sector to put in fresh capital with availing of loans becoming an issue due to rising NPAs of banks, along with demonetisation were mainly responsible for dampening growth, he said.
