Rise & reset: India has a long road to recovery but there is hope and optimism

(This story originally appeared in on Dec 28, 2020) NEW DELHI: The swift recovery displayed by the economy after the bruising impact of one of the strictest lockdowns in the world to prevent the spread of the Covid-19 infection has surprised many. It has also brought some cheer for policy makers in an otherwise gloomy … Read more

India cancels benchmark bond sale in yet another yield signal

By Kartik Goyal The central bank didn’t accept any bids for the benchmark 10-year bond at the weekly auction, in another sign that authorities want to keep yields in a tight range. The monetary authority got 276 bids worth 246.4 billion rupees ($3.4 billion), almost triple the amount the Reserve Bank of India had planned … Read more

Indian economy | RBI: Indian economy reviving; coming out of pandemic slowdown at unforeseen pace, says RBI

NEW DELHI: As economic activities gather momentum and strive to get back to pre-Covid levels, the Reserve Bank of India has said that the Indian economy is reflating at a pace higher than most predictions. The monthly bulletin of the central bank for December said the more evidence has emerged since the last bulletin which … Read more

RBI cautions public against unauthorised digital lending apps

MUMBAI: The Reserve Bank of India on Wednesday has issued a note of caution to the public against the use of “unauthorized” lending apps citing recent media reports on unethical collection practices along with arbitrary interest rates being charged by some of these apps. “There have been reports about individuals/small businesses falling prey to growing … Read more

Fresh home loans see double-digit growth in Sept-Oct

KOLKATA: Fresh home mortgages surged in India over the past two months, in line with the phased unshackling of the economy, indicating that demand remains robust despite the Covid-induced disruptions and income shrinkages. Leading home loan providers, such as State Bank of India, ICICI Bank and Housing Development Finance Corporation said that demand for home … Read more

Govt releases consolidated FDI policy document; replaces countries of concern with land border

New Delhi: The government on Wednesday released the consolidated foreign direct investment (FDI) policy document for 2020, after a three year gap, incorporating all the changes made in the policy recently. The consolidated policy is a compilation of various decisions taken by the government with regard to FDI in different sectors. The Department for Promotion … Read more

Next stimulus should focus on short-gestation infra projects: Niti Aayog Vice Chairman

New Delhi: Niti Aayog Vice Chairman Rajiv Kumar on Thursday said the Indian economy might end up with a lower contraction in the current fiscal than projected by various organisations and also stressed that the next stimulus should focus on short-gestation infrastructure projects. Participating in a virtual event organised by Public Affairs Forum of India … Read more

HDCF Bank Q2 takeaways: Stable asset quality, Covid provisions, new CEO & MD announcement & more

NEW DELHI: HDFC Bank‘s asset quality was strong at the end of September quarter. The private lender made lesser provisions for the quarter compared with June quarter and beat Street estimates on the bottom line front. A pre-provision profit growth of 18 per cent was healthy; so were growth in deposits and advances. Here are … Read more

India Inc’s fund raising set to hit new record in FY21

The central bank moves on boosting liquidity, through bespoke measures such as TLTRO, should also help expand the corporate bond market. Synopsis Local companies, including banks, could raise between $95-100 billion via primary bond sales this financial year, which could be marginally higher than a year before, estimates ICICI Bank. MUMBAI: Corporate India, including local … Read more

LVB board to meet on October 15 to consider rights issue

NEW DELHI: Cash-strapped Lakshmi Vilas Bank (LVB) on Monday said its board will meet later this week to consider issuance of shares on rights basis to existing shareholders. “A meeting of the board will be held Thursday, October 15, 2020 to consider and approve the issue of securities of the bank to existing shareholders of … Read more