Foreign investors have infused over Rs 13,300 crore in Indian equities in the first two weeks of the month owing to a resilient domestic economy with promising growth prospects. Going ahead, concerns over changes in India-Mauritius tax treaty will weigh on Foreign Portfolio Investor (FPI) inflows in the near-term till clarity emerges on details of … Read more
Moody’s on Friday lowered its outlook on the U.S. credit rating to “negative” from “stable” citing large fiscal deficits and a decline in debt affordability, a move that drew immediate criticism from President Joe Biden’s administration. The move follows a rating downgrade of the sovereign by another ratings agency, Fitch, this year, which came after … Read more
India needs major supply side reforms to check the wild swings in vegetable prices which put the inflation calculation in jeopardy, even as the world’s fifth largest economy is expected to regain momentum in the second quarter, offsetting the exports contraction on account of worldwide slump in demand, Reserve Bank of India said in its … Read more
Reserve Bank of India (RBI) will give banks enough time to comply with its expected credit loss (ECL) based approach for provisioning and is not planning to implement it anytime soon, senior officials from the central bank said. “We have received comments from stakeholders which are being evaluated. Some more work is to be done. … Read more
Acuite Ratings and Research on Monday maintained India’s FY23 gross domestic product (GDP) growth estimate at 7 per cent. The credit rating agency, however, projected the country’s economic growth trajectory in FY24 to slow down to 6 per cent. India would still be one of the highest growth economies in the world, it said. As … Read more
Chief Economic Adviser V Anantha Nageswaran on Saturday said that India is facing global shocks with a position of strength backed by far better household, corporate and financial sector balance sheets and its medium term growth outlook is good. “Overall, all things considered, including the risk of oil price, I do believe that the external … Read more
Embattled Chinese property giant Evergrande on Tuesday conceded it is under “tremendous pressure”, a day after insisting it will avoid a bankruptcy that many fear could have a huge impact on the world’s number-two economy. The Hong Kong-listed developer is sinking under a mountain of liabilities totalling more than $300 billion after years of borrowing … Read more
Rating companies are at the receiving end whenever there’s a credit market blow-up. India is no exception. ICRA, the local unit of Moody’s Investor Services, carried its share of blame. N. Sivaraman, an industry veteran, is now the managing director at the credit-rating company. In an interview with Saikat Das and MC Govardhana Rangan, he … Read more