BUSINESS
Indian bond yields may soften post marginal cut in gross govt borrowing, fiscal deficit
Finance Minister Nirmala Sitharaman in a speech presenting the full Budget for 2024-25, said the Centre marginally cut the gross borrowing target from the markets in 2024-25 to Rs 14.01 lakh crore to finance its fiscal deficit of 4.9 percent of the GDP.
BUSINESS
FM proposes to simplify FDI, overseas investment rules
Currently, Indian rupee is trading at 83.6313 against the US dollar.
BUSINESS
FM proposes credit guarantee scheme of Rs 100 crore for MSMEs
Further she said the government has formulated package to finance technology support to MSME.
BUSINESS
FM proposes to enhance mudra loans to Rs 20 lakh from Rs 10 lakh in budget 2024
Mudra or Micro Units Development & Refinance Agency, is a channel for government credit scheme meant for entrepreneurs under which loans are given.
BUSINESS
Economists expect government to lower fiscal deficit in budget 2024
In the interim budget, the government had targeted a fiscal deficit of 5.1 percent of the GDP for 2024-25.
BUSINESS
Online bond platforms pitch for integration with RBI's direct platform for retailers from budget 2024
Online bond platforms are companies that sell bonds or non-convertible debentures (NCDs) to investors, especially retail investors, through their websites or mobile apps. Experts say that the integration of RBI's Retail Direct Platform with these platforms will allow retail investors to directly invest in government bonds.
BUDGET
Corporate bonds public issues in FY24 at a record high
During FY24, the value of corporate bond issuances increased to Rs 8.6 lakh crore from Rs 7.6 lakh crore during the previous financial year.
BUSINESS
Core services inflation eases to a nine-year low in FY24
Core inflation in June stood at 3.1 percent, sharply lower than 7.1 percent in February 2022
BUSINESS
Economic Survey 2024: Financial system stress indicator improves as govt debt market stress eases
Declining volatility and rangebound movement in the exchange rate reduced stress levels in the foreign exchange market.
BUSINESS
Economic Survey 2024: MFIs see share of rural borrowers climb 10-year high in FY23
During FY23, the microfinance sector bounced back strongly, achieving an aggregate disbursement of Rs 1.8 lakh crore, 55 percent higher than the previous year.
BUSINESS
HDFC Bank net gains Rs 482.87 crore after transition to revised norms on bank investment portfolio
The lender has credited the amount to the general reserves as specified in the norms.
BUSINESS
Foreign currency assets in FX reserves rises by Rs 5.63 lakh crore since Indian bond inclusion announcement
Currently, foreign investors holding in the FAR securities stood at Rs 1.98 lakh crore as on July 20. The holding has increased by over Rs 1 lakh crore since the announcement of inclusion.
BUSINESS
L&T Finance's personal loan book likely to see more thrust from next quarter amid new fintech partnerships
L&T Finance is hoping that new partnerships with fintechs will give an impetus to its personal loan book. Joshi further added that the company may see 30-35 basis points (Bps) increase in cost of funds.
BUSINESS
Arka Fincap explores co-lending partnerships with three PSU lenders
The company in the first quarter of the current financial year is expected to report assets under management (AUM) of Rs 5,600 crore
BUSINESS
Indian bond issuers grabbing rates below RBI's repo in overseas market on strong foreign investors demand
The yield on Samvardhan Motherson International bonds was 78 basis points (Bps) lower than the repo rate at RBI.
BUSINESS
Budget 2024: Divestment of PSU companies may be pushed to FY26, says RBL Bank’s Achala Jethmalani
Healthy dividends from the RBI and PSU companies are expected to put divestment plans on the backburner in the Union Budget for fiscal 2025. In addition, some government measures would help in keeping inflation under control, Jethmalani said.
BUSINESS
Total salary of top 10 PSU banks' heads was less than half of Axis Bank's chief's payout in FY24
Kotak Mahindra Bank MD and CEO Ashok Vaswani netted Rs 1.83 crore in the previous financial year, and Amitabh Chaudhry, MD and CEO of Axis Bank, got Rs 9.11 crore.
BUSINESS
Banks reluctant to park funds with RBI in long-term VRRR ahead of GST outflows
Since the start of this month, the central bank had conducted 10 VRRR auctions, but subscription happened either 50 percent and in some cases fully.
BUSINESS
RBI unlikely to cut rates, change stance in August policy amid food price pressure, say economists
In June, CPI inflation rose to a four-month high of 5.08 percent compared to 4.75 percent in the previous month, as food inflation rose to 9.4 percent.
BUSINESS
Overseas bonds are back in flavour in 2024 on stepped up demand from foreign investors
In 2022 and 2023, experts said most Indian issuers refrained from tapping the overseas market due to rising interest rates by central banks across the world due to higher inflation, geopolitical uncertainties, and war among few nations.
BUSINESS
MC Explains I How RBI's easing of LRS norms opens new avenues for investors via GIFT City
The central bank has allowed authorised persons to facilitate remittances for availing financial services or financial products as per the International Financial Services Centres Authority Act.
BUSINESS
NBFCs may see 60-100 bps rise in cost of funds, pressure on Q1 margins as bank turn funds tap dry
The shadow banks are likely to record a decline in loan disbursements during the April-June quarter due to extended electoral activities and disruptions caused by heat waves
BUSINESS
Open interest in currency derivatives up 44% in Singapore after RBI’s new norms
Bloomberg data indicates that aggregate open interest contracts on the Singapore exchange stood at 2,62,030 on July 9, 44 percent higher than those on May 3, when RBI norms kicked in. From January to now, there has been a 4x jump in open interest for currency derivatives
BUSINESS
States' borrowing becomes cheaper by 12 bps in one month amid positive domestic cues
As per RBI’s data, between June 11 and July 9, states have borrowed Rs 52,513.88 crore through SDLs, which was 70 percent of the total Rs 74,950 crore indicated in the calendar.
