The average time taken for resolution of stressed assets under the insolvency law reached a three-year high in the June quarter, according to a report. The longest delay was 643 days for the Financial Creditors (FCs) in the first quarter of this fiscal, as per the report by India Ratings based on an analysis of … Read more
CreditAccess Grameen is all set to enter the bond market next week to raise up to Rs 1000 crore in non-convertible debentures, as it looks to diversify the liability profile. This is the second bond raising by India’s largest NBFC-MFI after raising Rs 500 crore in November last year. “The issue is in sync with … Read more
Though few fear a moderate rain deficit to impact inflation, an intense El Nino that severely disrupts the monsoon could push inflation up by 15-20 basis points by boosting food prices. Food items have 39.06% weight in India‘s Consumer Price Index (CPI), the price gauge for the Reserve Bank of India. A deep deficient monsoon … Read more
Pencilling in just 4 % GDP growth for the fourth quarter, a rating agency report has said the final growth numbers for the full year will be lower than the second advance estimate of 7 %. The economy grew at 13.2 % in the first quarter and 6.3 % in the second three-month period due … Read more
Mumbai: The record heat in February can lead to more rate hikes from RBI, a domestic rating agency said on Tuesday. The high temperatures will impact the wheat production, the rating agency said, adding that the surge in wheat prices contributed to over a tenth of the retail inflation in December and January, which is … Read more
Dwindling wage growth is emerging as a bigger headache despite economic recovery gains as it leads to tepid demand and results in under-utilisation of capacity, further widening the output gap, India Ratings said in a note on Thursday. According to the report, households accounting for 44-45 per cent of the GVA have witnessed a decline … Read more
Inflation in July may have eased from multi-month highs, but that still may not be a cause for celebration as core inflation remains sticky at 6%. This may prompt the central bank to raise the repo rate as much as 35 basis points, Nomura Securities said. “Headline inflation moderates due to volatile components, but underlying … Read more
India Ratings has revised downwards its GDP growth forecast for 2021-22 to 8.6 per cent from the consensus 9.2 per cent projected earlier. The National Statistical Organisation (NSO), which has forecast 9.2 per cent real GDP growth for the year, will release the second advance estimate of national income on Monday. According to an India … Read more
Private sector capex is showing some signs of pick-up. This is led by large companies in steel and cement, where capacity utilisation is at healthy levels. Source link
Despite an additional expenditure of Rs 3.73 lakh crore announced earlier this month, the government is set to undershoot the fiscal deficit target by 20 bps at 6.6 per cent on the back of overall robust revenue collections and under-spending by many ministries, according to a report. Rising revenue will take care of the additional … Read more