'Future market gains will likely depend primarily on earnings growth.'
Commercial banks have turned cautious in lending to smaller microfinance institutions (MFIs), which has compelled the latter to borrow from non-banking financial companies (NBFCs) at much higher rates. Recently Reserve Bank of India (RBI) Deputy Governor M Rajeshwar Rao slammed micro lenders for increasing their margins "disproportionately" and said these lenders were quick to pass on the increased cost to the borrowers but reluctant to pass on the benefits under the new regime, where margins are not capped.
It is to be seen if SBI under Setty, who will have a three-year term, can ride the economic cycle to take SBI to new heights, navigating some of these challenges.
'Our unsecured loan is not exactly unsecured. It is backed by cash flow of customers.'
Fundraising activity in the debt market is gaining momentum ahead of the festival season. Several non-banking financial companies (NBFCs) and the National Bank for Agriculture and Rural Development (Nabard) are planning to raise at least Rs 5,560 crore in the next two days by issuing bonds, with a greenshoe size of Rs 6,370 crore. Ajay Malglunia, managing director and head of investment grade group at JM Financial, said, "The market likes certainty, the market will gain clarity after the US Federal Reserve's (Fed's) policy.
The Congress on Monday promised that a government led by it will conduct a nationwide caste census and implement 33 per cent reservation for women in the Lok Sabha and state legislative assemblies at the earliest, including adequate representation for women belonging to the OBC community.
Overseas investors, as well as other key stakeholders, such as brokers, custodians, and clearing corporations, are yet to iron out critical issues, even as the shift towards a shorter trade settlement cycle approaches new phases. Several industry players said foreign portfolio investors (FPIs) are still facing impediments over the trade confirmation timelines, foreign exchange (forex) bookings, and pre-funding requirements. This could potentially act as a roadblock when it comes to moving entirely to the new T+1 settlement cycle from next year.
The recent Reserve Bank of India (RBI) norms on tokenisation services, which will be offered by card networks, are likely to result in merchants and payment aggregators incurring a cost as they have to pay a fee to the networks. The merchants and the payment aggregators, in turn, may pass on the cost to the customers. The norms, which were issued by the banking regulator released on September 7, allow card networks like Visa and Mastercard to offer the tokenisation service.
The Securities and Exchange Board of India (Sebi) on Thursday hiked individual limits of mutual funds' investments in overseas equity instruments by $50 million to $150 million.
A study conducted by the CII and the Institute of Rural Management on the Jyotigram Yojana, the state government's rural electrification scheme which promises 24-hour, 3-phase electricity to villages, says there is an increase in the level of average employment and reduction in migration from rural areas by 33 per cent.
We will find it difficult to exceed an average of 5 per cent growth in the medium term, warns Shankar Acharya, the former chief economic adviser.
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
Let all the stakeholders, especially the government, remember that if the Make in India lion needs to roar and rise again, it won't happen unless India Inc rises too, points out Shekaar Subramanian.
A weak rupee, though seemingly good for exporters, would push up input cost further for Indian companies.
Plan to lay off excess staff, trim salaries of top executives.
If variation is over 50 points, write to the bank and bureau immediately to correct the discrepancy
This optimism is triggered by the feel-good factor in the wake of the Sensex touching record-high levels last week and a slew of discount offers by airlines to boost travel demand.
India is experiencing jobless growth and skepticism abounding that the country may not be able to cash in on its demographic bonus
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