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Domestic stock markets to end 2024 on positive note, Nifty clocks 13 pc gain Riding on resilient economic growth, the domestic stock markets are ending 2024 on a positive note, with Nifty registering a 13 per cent gain (year-to-date) -- its ninth consecutive year of positive gains, a Motilal Oswal Wealth Management report said on Saturday.  The first half of the year saw robust corporate earnings, a surge in domestic flows, and a resilient macro landscape, driving the Nifty to an all-time high of 26,277 in September. In fact, the markets navigated significa...
Domestic stock markets to end 2024 on positive note, Nifty clocks 13 pc gain
Domestic stock markets to end 2024 on positive note, Nifty clocks 13 pc gain
Source: IANS
2024-12-21 04:51:52 pm
High prices impinging on India`s growth, central bank minutes show High prices are the cause for demand slowdown in India, and aligning inflation to the central bank's 4% target is key to ensuring sustained economic growth, members of the rate-setting panel said in the minutes of the December meeting. "The policy priority at this critical juncture has to be on restoring the inflation growth balance," Reserve Bank of India Governor Shaktikanta Das said in the minutes of his last monetary policy committee (MPC) meeting released on Friday. L...
High prices impinging on India`s growth, central bank minutes show
High prices impinging on India`s growth, central bank minutes show
Source: Reuters
2024-12-21 10:43:18 am
India`s forex reserves dip to nearly six-month low  India's foreign exchange reserves fell by nearly $2 billion to an almost six-month low of $652.87 billion as of Dec. 13, data from the Reserve Bank of India (RBI) showed on Friday. The reserves had declined by $3.2 billion in the week of Dec. 6, and have declined by $52 billion from the record high of $704.89 billion hit on Sept. 27. Changes in foreign currency assets are caused by the central bank's intervention in the forex market as well as the appreciation or depreciat...
India`s forex reserves dip to nearly six-month low
India`s forex reserves dip to nearly six-month low
Source: Reuters
2024-12-21 10:41:02 am
Rupee hits all-time low as dollar extends climb, RBI likely steps in The Indian rupee weakened to its record low on Friday, hurt by persistent dollar strength after strong U.S. economic data reinforced the Federal Reserve's hawkish tilt while likely intervention by the Reserve Bank of India capped the currency's losses. The rupee declined to 85.10 against the U.S. dollar in early trading, inching past its previous record low of 85.0850 hit on Thursday. The local unit was last quoted at 85.0975 as of 10:00 a.m. IST. State-run banks were spotted of...
Rupee hits all-time low as dollar extends climb, RBI likely steps in
Rupee hits all-time low as dollar extends climb, RBI likely steps in
Source: Reuters
2024-12-20 11:01:27 am
Ensuring SMS traceability for secure messaging: TRAI  A framework to ensure the traceability of all commercial SMS has been achieved which is a major step towards creating a safer and spam-free messaging ecosystem, the Telecom Regulatory Authority of India (TRAI) said on Thursday.  Under this framework, all principal entities (PEs) such as businesses, banks, and government agencies along with their telemarketers (TMs), were required to declare and register their message transmission paths through blockchain-based Distributed Ledger...
Ensuring SMS traceability for secure messaging: TRAI
Ensuring SMS traceability for secure messaging: TRAI
Source: IANS
2024-12-20 08:56:57 am
Rupee may weaken past 85/USD on Fed`s `decidedly`hawkish turn The Indian rupee may dip past 85 for the first time on Thursday after Federal Reserve officials signalled fewer rate cuts in 2025, sending the dollar index to its highest in two years. The one-month non-deliverable forward indicated that the rupee will open at 85.04-85.06 to the U.S. dollar compared with 84.9525 in the previous session. Overnight, U.S. equities plunged, Treasury yields rose and the dollar index soared after the Fed indicated a much slower pace of rate cuts than previous...
Rupee may weaken past 85/USD on Fed`s `decidedly`hawkish turn
Rupee may weaken past 85/USD on Fed`s `decidedly`hawkish turn
Source: Reuters
2024-12-19 08:45:36 am
Rupee to linger near all-time low before Fed rate forecasts The Indian rupee is likely to hold near lifetime lows on Wednesday, with traders awaiting the Federal Reserve's projections on how many times it will cut interest rates next year. The one-month non-deliverable forward indicated that the rupee will mostly unchanged from 84.8950 in the previous session. The dollar index was little changed on Wednesday, just below 107. Asian currencies were mixed and rangebound. "Today's FOMC (Federal Open Market Committee) could spark anot...
Rupee to linger near all-time low before Fed rate forecasts
Rupee to linger near all-time low before Fed rate forecasts
Source: Reuters
2024-12-18 09:01:13 am
Indian firms raise over Rs 3 lakh crore from stock market in 2024 The year 2024 has been historic for the Indian stock market as companies have raised a record capital of over Rs 3 lakh crore so far this year through Initial Public Offerings (IPOs), Qualified Institutional Placements (QIPs), and Rights Issues, breaking the previous record of raising capital - Rs 1.88 lakh crore in 2021.   According to reports, 90 companies have raised or announced fundraising of Rs 1.62 lakh crore so far this year, which is 2.2 times more than last year's Rs 49,...
Indian firms raise over Rs 3 lakh crore from stock market in 2024
Indian firms raise over Rs 3 lakh crore from stock market in 2024
Source: IANS
2024-12-17 03:15:40 pm
Area sown under rabi crops increases to 558.8 lakh hectares  The total area sown during the ongoing rabi crop season so far has touched 558.8 lakh hectares, up from 556.6 lakh hectares in the same period of the previous year, an official statement said on Monday.  The area covered under wheat has increased to 293.11 lakh hectares (ha) compared to 284.17 lakh ha during the corresponding period of last year.  The total area under pulses has been reported at 123.27 lakh ha while 38.75 lakh ha area has been sown under Shri Anna (mille...
Area sown under rabi crops increases to 558.8 lakh hectares
Area sown under rabi crops increases to 558.8 lakh hectares
Source: IANS
2024-12-17 08:55:43 am
Quote on WPI Inflation Reaction by Raghvendra Nath, MD, Ladderup Wealth Below the Quote on WPI Inflation Reaction by Raghvendra Nath, MD, Ladderup Wealth   "India's Wholesale Price Index (WPI) has decreased to a three-month low of 1.89% in November, primarily due to a decline in food price inflation, which moderated to 8.63% compared to 13.54% in October 2024. This positive trend in food prices is expected to continue, supported by a favorable crop season, which should further reduce food inflation in the coming months. Given the recent Consum...
Quote on WPI Inflation Reaction by Raghvendra Nath, MD, Ladderup Wealth
Quote on WPI Inflation Reaction by Raghvendra Nath, MD, Ladderup Wealth
Source: Ladderup Wealth Management
2024-12-16 03:59:14 pm
India’s banking sector poised for continued resilience: S&P Global India’s financial sector is poised for continued resilience, bolstered by structural improvements and robust economic growth prospects, according to the S&P Global Ratings 2025 banking outlook.  “We anticipate asset quality will stabilize, with weak loans in the banking sector projected to decline to approximately 3.0 per cent of gross loans by March 31, 2025. This positive trend is supported by healthy corporate balance sheets and enhanced risk management practices,&r...
India’s banking sector poised for continued resilience: S&P Global
India’s banking sector poised for continued resilience: S&P Global
Source: IANS
2024-12-16 02:34:59 pm
India`s WPI inflation eases to 1.89 pc in November  India’s annual rate of inflation based on the Wholesale Price Index (WPI) eased to 1.89 per cent in November compared to 2.36 per cent in October as the rise in food prices slowed during the month with the fresh crop arriving in the market, data released by the Commerce and Industry Ministry on Monday showed.   “The positive rate of inflation in November 2024 is primarily due to an increase in prices of food articles, food products, other manufacturing, textiles, mac...
India`s WPI inflation eases to 1.89 pc in November
India`s WPI inflation eases to 1.89 pc in November
Source: IANS
2024-12-16 01:40:45 pm
Monetary Policy Shifts Amid Crude Oil Price Volatility in 2025 by Amit Gupta, Kedia Advisory As crude oil markets continue to be shaped by global supply surpluses, demand uncertainties, and geopolitical tensions, central banks are adjusting their monetary policies to navigate these evolving dynamics. The projected decline in crude oil prices for 2025, coupled with potential disruptions, presents both challenges and opportunities for policymakers worldwide. These developments are expected to influence inflation rates, currency stability, and broader economic growth, prompting central ...
Monetary Policy Shifts Amid Crude Oil Price Volatility in 2025 by Amit Gupta, Kedia Advisory
Monetary Policy Shifts Amid Crude Oil Price Volatility in 2025 by Amit Gupta, Kedia Advisory
Source: Kedia Advisory
2024-12-16 12:12:41 pm
Rupee weakens against US dollar on Monday Indian rupee weakened against the US dollar on Monday tracking sluggish domestic equities, elevated crude oil prices, and dollar demand from importers and foreign banks, while RBI data showed India's forex reserves dropped by $3.235 billion to $654.857 billion for the week ended December 6. However, some weakness were limited by foreign fund inflows into Indian capital markets and weak American currency overseas. Foreign Institutional Investors purchased Rs 2,335.32 crore in the capital m...
Rupee weakens against US dollar on Monday
Rupee weakens against US dollar on Monday
Source: Accord Fintech
2024-12-16 12:04:37 pm
Indian rupee, bonds to be guided by Fed policy decision  The Indian rupee and government bonds will take cues from the Federal Reserve's policy decision this week, with investors keeping an eye out for hawkish revisions to future U.S. interest rate projections. The rupee closed at 84.7875 against the U.S. dollar on Friday, down 0.1% on the week. It hit a record low of 84.88 earlier last week. Elevated dollar bids in the non-deliverable forwards market, along with expectations of a dovish tilt in monetary policy following the appoint...
Indian rupee, bonds to be guided by Fed policy decision
Indian rupee, bonds to be guided by Fed policy decision
Source: Reuters
2024-12-16 09:07:10 am
Indian rupee to face renewed pressure as US yields climb The Indian rupee, having witnessed slight relief late last week, is likely to come under renewed strain on Monday on the back of a further rise in U.S. Treasury yields. The 1-month non-deliverable forward indicate that the rupee will open at 84.82-84.83 to the U.S. dollar compared with its previous close of 84.7875. The local currency inched up 0.1% on Friday, thanks to likely dollar sales by the central bank and possible inflows, according to traders. "In the context" of h...
Indian rupee to face renewed pressure as US yields climb
Indian rupee to face renewed pressure as US yields climb
Source: Reuters
2024-12-16 08:59:40 am
PSBs in India clock record Rs 1.41 lakh crore in net profit in FY24 Public Sector Banks (PSBs) in India registered their highest-ever aggregate net profit of Rs 1.41 lakh crore in the financial year 2023-24, the Ministry of Finance said on Sunday.  The gross non-performing assets (GNPA) ratio steeply declined, dropping to 3.12 per cent in September 2024. Demonstrating continued momentum, they registered a net profit of Rs 85,5206,000 crore in the first half of 2024-25. In addition to their stellar performance, PSBs have contributed significantly to...
PSBs in India clock record Rs 1.41 lakh crore in net profit in FY24
PSBs in India clock record Rs 1.41 lakh crore in net profit in FY24
Source: IANS
2024-12-15 04:57:42 pm
Indian SCBs clock highest-ever net profit at Rs 23.50 lakh cr in FY24, reduce NPAs The gross non-performing asset (NPA) ratio for scheduled commercial banks (SCBs) have improved significantly with a reduction to 2.67 per cent in June 2024 from 11.18 per cent in March 2018, according to the government.  Moreover, SCBs recorded highest-ever aggregate net profit of Rs 23.50 lakh crore in FY2023-24, against net profit of Rs 22.63 lakh crore in FY2022-23. The asset quality of SCBs has improved significantly with gross NPA ratio of SCBs declining to 2.67 per cent (Rs 4...
Indian SCBs clock highest-ever net profit at Rs 23.50 lakh cr in FY24, reduce NPAs
Indian SCBs clock highest-ever net profit at Rs 23.50 lakh cr in FY24, reduce NPAs
Source: IANS
2024-12-15 10:08:20 am
UPI transactions surge to Rs 223 lakh crore in Jan-Nov The Unified Payments Interface (UPI) has achieved 15,547 crore transactions worth Rs 223 lakh crore from January to November this year, ‘showcasing its transformative impact on financial transactions’ in India, the Finance Ministry said on Saturday. The Finance Ministry also said that UPI is now accepted in seven countries including France, UAE, Singapore, Sri Lanka, Mauritius, Bhutan and Nepal. The UPI system provides a cheaper and quicker alternative to the available channels...
UPI transactions surge to Rs 223 lakh crore in Jan-Nov
UPI transactions surge to Rs 223 lakh crore in Jan-Nov
Source: IANS
2024-12-14 05:42:20 pm
CPI inflation to average 4.8 per cent in 2024-25: SBI report CPI inflation is likely to average 4.8 per cent with an upward bias for the full financial year 2024-25 as evolving food prices play a key role, according to an SBI report. “With continuous moderation in fuel prices (fuel and light inflation is in negative territory for the last 15 consecutive months), inflation is currently being driven by food price only,” the report states. “We expect RBI to cut rates in February 2025 by a cumulative 75 bps over the rate cut cycles ...
CPI inflation to average 4.8 per cent in 2024-25: SBI report
CPI inflation to average 4.8 per cent in 2024-25: SBI report
Source: IANS
2024-12-14 05:03:58 pm
FII buying reaches Rs 22,765 crore in Dec as economic growth stays resilient The foreign institutional investors’ (FIIs) buying continued through Indian stock exchanges this month to reach Rs 14,435 crore (till December 13), as the economic growth stayed resilient.  The total buy figure from the FIIs -- including the exchange buying and buying through the ‘primary market and others category’ -- stood at Rs 22,765 crore (till December 13), as per the National Securities Depository Limited (NSDL) data. FIIs turning buyers in December after r...
FII buying reaches Rs 22,765 crore in Dec as economic growth stays resilient
FII buying reaches Rs 22,765 crore in Dec as economic growth stays resilient
Source: IANS
2024-12-14 03:18:40 pm
RBI keeps repo rate unchanged; cuts CRR by 50bp -Motilal OswalFinancial Services Ltd RBI keeps repo rate unchanged; cuts CRR by 50bp Rate cuts could begin from Feb’25 or later * The Reserve Bank of India (RBI) announced its fifth bi-monthly monetary policy for FY25 on 6th Dec'24. The rate-setting panel decided to keep the benchmark repo rate unchanged at 6.5% for the 11th consecutive meeting, with four out of six members voting in favor. Dr. Nagesh Kumar and Prof. Ram Singh voted to reduce the policy repo rate by 25bp. * The MPC unanimously decided to keep ...
RBI keeps repo rate unchanged; cuts CRR by 50bp -Motilal OswalFinancial Services Ltd
RBI keeps repo rate unchanged; cuts CRR by 50bp -Motilal OswalFinancial Services Ltd
Source: Motilal Oswal Financial Services ltd
2024-12-14 12:34:40 pm
`India-UK Financial Markets Dialogue` hails reforms in both countries Senior officials from India and the UK on Friday touched upon reforms in respective financial services sectors, including capital markets, insurance and reinsurance, pensions, fintech, sustainable finance and International Financial Services Centre.  The third meeting of ‘India-UK Financial Markets Dialogue’ was hosted by Department of Economic Affairs, Ministry of Finance, in GIFT City, Gujarat. Delegates from India and the UK shared perspectives on priorities and ongoing...
`India-UK Financial Markets Dialogue` hails reforms in both countries
`India-UK Financial Markets Dialogue` hails reforms in both countries
Source: IANS
2024-12-14 11:15:35 am
India`s GDP growth to hold steady in FY25, likely to clock 6.7 pc in FY26 India's economic growth will continue to hold steady in FY25 despite global uncertainties, with a projected GDP at 6.7 per cent in FY26, a report showed on Friday.  CareEdge Ratings said that it expects Indian government to continue on the path of fiscal consolidation and projects India's GDP growth to remain healthy at 6.5 per cent in FY25 and 6.7 per cent in FY26. “We expect to see improvement in private investment in 2025, supported by anticipated monetary policy e...
India`s GDP growth to hold steady in FY25, likely to clock 6.7 pc in FY26
India`s GDP growth to hold steady in FY25, likely to clock 6.7 pc in FY26
Source: IANS
2024-12-13 06:03:56 pm
Rupee strengthens against US dollar on Friday Indian rupee strengthened from its all-time low against the US dollar on Friday tracking better-than-expected domestic inflation data. Data showed India’s retail inflation declined in November to 5.48% and came within the Reserve Bank's tolerance limit, creating headroom for interest rate cut at the central bank's rate-setting panel meeting under new Governor Sanjay Malhotra in February. However, firm American currency and foreign fund outflows have limited the recovery in domes...
Rupee strengthens against US dollar on Friday
Rupee strengthens against US dollar on Friday
Source: Accord Fintech
2024-12-13 11:39:33 am
Rupee weakness to persist on rally in dollar, US yields The Indian rupee will have to contend with the higher run in the U.S. dollar and yields at the open on Friday, which may push the local currency to a new all-time low. The one-month non-deliverable forward indicated that the rupee will open at 84.87-84.88 to the dollar, compared with 84.8575 in the previous session and near the all-time low of 84.88 hit on Thursday. The dollar index climbed past the 107 handle in the New York session on Thursday to its highest in more than two weeks. Th...
Rupee weakness to persist on rally in dollar, US yields
Rupee weakness to persist on rally in dollar, US yields
Source: Reuters
2024-12-13 08:57:11 am
India`s November retail inflation eases as food prices moderate India's retail inflation eased in November as soaring vegetable prices moderated, boosting expectations of an interest rate cut by the central bank at its next policy review amid concerns around slowing growth. Retail inflation eased in November to 5.48%, lower than 6.21% in the previous month and below a 5.53% forecast by economists in a Reuters poll. Food inflation slowed down to 9.04% from 10.87% a month earlier. Food accounts for nearly half of the consumption basket. Vegetab...
India`s November retail inflation eases as food prices moderate
India`s November retail inflation eases as food prices moderate
Source: Reuters
2024-12-12 05:06:47 pm
India`s retail inflation declines to 5.48 per cent in Nov India’s retail price inflation based on the Consumer Price Index (CPI) declined to 5.48 per cent in November as the increase in prices of food items eased during the month bringing relief to household budgets, said the Ministry of Statistics on Thursday. The slowing inflation marks a reversal of the increasing trend in the previous two months when the inflation rate touched 6.21 per cent in October. “During the month of November, a significant decline in inflation is observe...
India`s retail inflation declines to 5.48 per cent in Nov
India`s retail inflation declines to 5.48 per cent in Nov
Source: IANS
2024-12-12 04:42:42 pm
Gross NPA of PSBs drops to 3.12 pc in 10 years, net profit at Rs 1.41 lakh cr in FY24: Centre The gross non-performing asset (NPA) ratio of public sector banks (PSBs) declined to 3.12 per cent in September this year, from 4.97 per cent in March 2015 and from a peak of 14.58 per cent in March 2018, the Centre informed on Thursday.  The Ministry of Finance said in a statement that public sector banks (PSUs) recorded the highest ever aggregate net profit of Rs 1.41 lakh crore during FY2023-24, against net profit of Rs 1.05 lakh crore in FY2022-23, and recorded Rs 0.86 lakh crore ...
Gross NPA of PSBs drops to 3.12 pc in 10 years, net profit at Rs 1.41 lakh cr in FY24: Centre
Gross NPA of PSBs drops to 3.12 pc in 10 years, net profit at Rs 1.41 lakh cr in FY24: Centre
Source: IANS
2024-12-12 04:40:02 pm
India cenbank`s FX swaps spur inversion of rupee forward premiums curve The Reserve Bank of India's forex swaps, to avoid directly impacting cash in the system as it supports the spiralling rupee, and the arbitrage between the offshore and onshore markets have inverted the dollar/rupee forward premiums curve. The implied yield on near-maturity forwards is now higher than on longer-term forwards for the first time this year. For instance, the implied yield on the 1-month dollar/rupee forward premium is 30 basis points higher than on the 1-year, while the...
India cenbank`s FX swaps spur inversion of rupee forward premiums curve
India cenbank`s FX swaps spur inversion of rupee forward premiums curve
Source: Reuters
2024-12-12 03:56:49 pm
Rupee weakens to near all-time low against US dollar on Thursday Indian rupee weakened to near all-time low against the US dollar on Thursday on the back of foreign fund outflows from the Indian capital market and rising crude oil prices. Foreign Institutional Investors were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs 1,012.24 crore, exchange data showed. Moreover sluggish domestic equities also weighed on rupee, even after US CPI inflation came on expected lines fuelling bets of a 25 basis point rate cut by the Feder...
Rupee weakens to near all-time low against US dollar on Thursday
Rupee weakens to near all-time low against US dollar on Thursday
Source: Accord Fintech
2024-12-12 12:04:08 pm
ADB lowers India`s GDP growth forecast to 6.5% for current fiscal The Asian Development Bank (ADB) in its latest edition of Asian Development Outlook (ADO) has said that it lowered India’s economic growth forecast to 6.5 per cent for the current financial year (FY25) from its earlier estimate of 7 per cent due to lower-than-expected growth in private investment and housing demand. It has also lowered India’s growth forecast for 2025-26 financial year. It however said India’s growth will remain robust, with the economy supported by highe...
ADB lowers India`s GDP growth forecast to 6.5% for current fiscal
ADB lowers India`s GDP growth forecast to 6.5% for current fiscal
Source: Accord Fintech
2024-12-12 10:08:51 am
RBI to maintain continuity and stability in policy matters: Sanjay Malhotra  Newly appointed RBI Governor Sanjay Malhotra on Wednesday said the central bank will maintain continuity and stability in policy matters with a greater use of technology to promote financial inclusion.  Addressing his first press conference after taking charge at the central bank, the IIT-Kanpur graduate said he would work toward further use of technology to reduce cost and make financial services all pervasive. "Innovation will be key; we will also have to be cautious a...
RBI to maintain continuity and stability in policy matters: Sanjay Malhotra
RBI to maintain continuity and stability in policy matters: Sanjay Malhotra
Source: IANS
2024-12-12 09:33:17 am
India`s newly-appointed central bank chief commits to policy continuity  India's newly-appointed central bank governor Sanjay Malhotra on Wednesday said he will look to ensure stability and continuity in policymaking for the benefit of the economy. "All businesses, all people they do need this (policy) stability rather than (a) day-to-day kind of a policy," Malhotra said at a press conference in Mumbai after he took charge for a three-year term. "We continue to uphold this value, this principle of stability." Malhotra's a...
India`s newly-appointed central bank chief commits to policy continuity
India`s newly-appointed central bank chief commits to policy continuity
Source: Reuters
2024-12-11 05:40:38 pm
India`s growth to rebound to 7 pc in 2025-26 India’s economic growth is expected to rebound to 7 per cent in 2025-26, despite the global uncertainties, primarily due to domestic policies, according to an Axis Bank research report released on Wednesday.  The report states that a cyclical rebound will push India back to a higher growth path. “The loss in momentum during the first half of 2024-25 for the Indian economy, in our view, is cyclical, and due to unintended fiscal and monetary tightening; the latter due to ...
India`s growth to rebound to 7 pc in 2025-26
India`s growth to rebound to 7 pc in 2025-26
Source: IANS
2024-12-11 03:17:36 pm
Sectoral Credit Deployment for October 2024 by CareEdge Ratings Synopsis * Non-food credit offtake slowed to 11.5% y-o-y in October 2024, down from 20.0% (including merger) and 15.4% (excluding merger) in October 2023. This slowdown is attributed to a higher base effect, RBI measures such as higher risk weights and the proposed LCR norms, and a focus on managing the Credit-toDeposit ratio (which remained around 80%). Credit offtake in October 2024 was driven by industry (large and MSMEs), gold loans, and mortgages, partially offset by lower growth in N...
Sectoral Credit Deployment for October 2024 by CareEdge Ratings
Sectoral Credit Deployment for October 2024 by CareEdge Ratings
Source: CareEdge Ratings
2024-12-11 11:48:05 am
Gross NPAs of PSBs at Rs 3.16 lakh crore over 3% of outstanding loans: Pankaj Chaudhary Minister of State for Finance Pankaj Chaudhary has said that the gross non-performing assets (NPAs) of public sector banks (PSBs) stood at Rs 3.16 lakh crore as of September 30. He said that as per provisional data of the Reserve Bank of India (RBI), gross NPAs of PSBs and private sector banks as on September 30, 2024 were Rs 3,16,331 crore and Rs 1,34,339 crore, respectively. Gross NPAs as percentage of outstanding loan was 3.09 per cent in public sector banks and 1.86 per cent in private se...
Gross NPAs of PSBs at Rs 3.16 lakh crore over 3% of outstanding loans: Pankaj Chaudhary
Gross NPAs of PSBs at Rs 3.16 lakh crore over 3% of outstanding loans: Pankaj Chaudhary
Source: Accord Fintech
2024-12-11 10:56:18 am
Rupee likely to maintain downward drift, RBI counted on to cap losses Headwinds for the Indian rupee are likely to persist on Wednesday amid ongoing strength in the U.S. dollar and a lingering bearish bias on the local currency that may push it to another lifetime low, but traders expect the central bank's intervention to limit sharp losses. The one-month non-deliverable forward indicated that the rupee may open near 84.88, compared to its all-time low of 84.8575 hit in the previous session. The currency had closed at 84.8525 on Tuesday. The rupee cam...
Rupee likely to maintain downward drift, RBI counted on to cap losses
Rupee likely to maintain downward drift, RBI counted on to cap losses
Source: Reuters
2024-12-11 09:01:03 am
Quote on The Assessment of RBI Governor Mr. Shaktikanta Das tenure by Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings Below the Quote on The Assessment of RBI Governor Mr. Shaktikanta Das tenure by Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings   With Dr. Urjit Patel leaving before his tenure, Mr. Shaktikanta Das took over as the 25th Governor of the Reserve Bank of India for three years in trying circumstances in December 2018. This was a time of intense debate on the role of the RBI and its relationship with the Government of India, a relationship which is uneasy at the best o...
Quote on The Assessment of RBI Governor Mr. Shaktikanta Das tenure by Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings
Quote on The Assessment of RBI Governor Mr. Shaktikanta Das tenure by Dr. Manoranjan Sharma, Chief Economist at Infomerics Ratings
Source: Infomerics Ratings
2024-12-10 03:37:48 pm
Karur Vysya Bank trades higher on the BSE Karur Vysya Bank is currently trading at Rs. 242.85, up by 0.60 points or 0.25% from its previous closing of Rs. 242.25 on the BSE. The scrip opened at Rs. 241.50 and has touched a high and low of Rs. 244.45 and Rs. 238.90 respectively. So far 37175 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 246.15 on 09-Dec-2024 and a 52 week low of Rs. 154.65 on 11-Dec-2023. Last one week high and low of the scrip stood a...
Karur Vysya Bank trades higher on the BSE
Karur Vysya Bank trades higher on the BSE
Source: Accord Fintech
2024-12-10 02:53:46 pm
RBI, Finance Ministry coordination at its best, says Shaktikanta Das The Reserve Bank of India and the Finance Ministry have been on "best terms with excellent coordination and cooperation” over the last six years, outgoing RBI Governor, Shaktikanta Das, said in his farewell address on Tuesday.  He said, “The perspectives of the central bank and the Finance Ministry may differ at certain times but I believe in my tenure we have been able to settle such things." Das said restoring a balance between inflation and growth in the ec...
RBI, Finance Ministry coordination at its best, says Shaktikanta Das
RBI, Finance Ministry coordination at its best, says Shaktikanta Das
Source: IANS
2024-12-10 01:41:35 pm
Retail inflation eases in October for farm, rural workers The Ministry of Labour & Employment in its latest release has showed that retail inflation for farm workers and rural labourers witnessed a notable decline in the month of October 2024, easing to 5.96% and 6%, respectively as compared to 7.08% and 6.92% in October 2023. This also represents a decrease from September's figures of 6.36% and 6.39%, respectively. The recent release also noted that the All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourer...
Retail inflation eases in October for farm, rural workers
Retail inflation eases in October for farm, rural workers
Source: Accord Fintech
2024-12-10 12:46:51 pm
Economists react to India`s new central bank chief announcement India appointed career civil servant Sanjay Malhotra as its new central bank governor on Monday in a surprise move that leaves markets guessing about the future direction of monetary policy, as growth slows and high inflation persists. "One has to understand the turf, all perspectives and do what's the best for the economy," Malhotra, who has seldom shared his views on the economy in public, told reporters in New Delhi on Tuesday. Malhotra formally takes over on Wednesday....
Economists react to India`s new central bank chief announcement
Economists react to India`s new central bank chief announcement
Source: Reuters
2024-12-10 12:20:14 pm
India`s retail inflation likely to ease India’s retail inflation based on the Consumer Price Index (CPI) is expected to ease to 5.5 per cent in November due to a decline in food prices, according to a Morgan Stanley report.  "We expect CPI inflation to edge downwards to 5.5 per cent in November from 6.2 per cent in October, aided by a moderation in food prices, even as core ticks up and fuel continues to decline. On a sequential basis, we anticipate the index to decline on the back of contracting food prices and ...
India`s retail inflation likely to ease
India`s retail inflation likely to ease
Source: IANS
2024-12-10 12:16:41 pm
Rupee strengthens marginally against US dollar on Tuesday Indian rupee strengthened marginally and recovered from its all-time low against the US dollar on Tuesday, tracking firm domestic equities and fresh foreign fund inflows into the Indian capital market. Foreign Institutional Investors were net buyers in the capital markets on Monday, as they purchased shares worth Rs 724.27 crore, exchange data showed. Meanwhile, the appointment of the new Reserve Bank of India (RBI) Governor Sanjay Malhotra increased expectations of interest rate cuts next ye...
Rupee strengthens marginally against US dollar on Tuesday
Rupee strengthens marginally against US dollar on Tuesday
Source: Accord Fintech
2024-12-10 11:54:38 am
S&P Global Ratings projects 6.8 pc growth for Indian economy in FY25 S&P Global Ratings on Tuesday projected 6.8 per cent growth for the Indian economy in FY25, followed by 6.9 per cent growth in FY26, on the back of strong urban consumption, steady service sector growth, and ongoing investment in infrastructure.  The growth projection by S&P Global Ratings is higher than the latest Reserve Bank of India’s (RBI) forecast for India’s GDP growth for 2024-25 at 6.6 per cent, from 7.2 per cent earlier. The global credit rating agency...
S&P Global Ratings projects 6.8 pc growth for Indian economy in FY25
S&P Global Ratings projects 6.8 pc growth for Indian economy in FY25
Source: IANS
2024-12-10 11:29:33 am
Total area sown under Rabi crops surges past 493.6 lakh hectares The total area sown during the ongoing Rabi crop season so far has surpassed 493.6 lakh hectares, up from 486.3 hectares in the same period last year raising hopes of higher agricultural production that would help to bring down food prices.  The area covered under wheat has increased to 239.49 lakh hectares compared to 234.15 lakh hectares in the corresponding period of the previous year. Similarly, the area sown under pulses has shot up to 120.65 lakh hectares in the current Rabi ...
Total area sown under Rabi crops surges past 493.6 lakh hectares
Total area sown under Rabi crops surges past 493.6 lakh hectares
Source: IANS
2024-12-10 09:05:51 am
India inflation likely fell in Nov on moderating vegetable prices  India retail inflation likely fell to 5.53% in November after breaching the central bank's 6% upper tolerance band as the arrival of fresh produce to markets moderated soaring vegetable prices, a Reuters poll of economists found. The Reserve Bank of India held interest rates steady last week, as predicted in a separate Reuters poll, citing price pressures, despite news of a surprise sharp slowdown in economic growth last quarter. Inflation unexpectedly rose to a 14-month high ...
India inflation likely fell in Nov on moderating vegetable prices
India inflation likely fell in Nov on moderating vegetable prices
Source: Reuters
2024-12-10 09:00:32 am