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The wrong choice can quietly increase costs, trigger compliance questions, or even lead to account freezes at the worst possible time.
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Economists say that the outcome of the negotiations for a trade deal between India and the US continues to be crucial, as the absence of an agreement could have negative implications for India’s current account deficit in the next fiscal year
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In the April–June quarter, the bank’s current account deposits declined by 30.57 percent quarter-on-quarter to Rs 54,045 crore, down from Rs 77,841 crore in Q4 FY25, according to the investor presentation.
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Forex reserves are expected to protect India from immediate shocks, but escalation of war could impact trade and oil prices.
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exports rose to $34.7 billion in August from $33.89 billion, imports rose to $62.6 billion from $57.5 billion in July
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Economists contend there is likely to be some slippage in CAD in FY25 to above 1% levels, but it is likely to stay manageable
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A lower current account deficit implies domestic savings must have gone up, and at a faster rate than investment
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As a percentage of GDP, the January-March current account deficit is 0.2 percent compared to 2 percent in October-December 2022 and 1.6 percent in January-March 2022
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However, they face a slew of challenges, ranging from capital adequacy while facilitating trillions of rupees in volumes, to regulations that state that for such a high volume of payments, there should be multiple vendors, reducing the pricing power of these startups. Even though it is early days, a strong business model is yet to evolve
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India's average current account deficit stands at 3.3% of GDP for the first six months of 2022/23.
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Central Banks globally are expected to begin tightening their monetary policy and reduce liquidity in a bid to curtail rising inflation. In FY22, India became the fourth-largest forex reserves holder, after China, Japan, and Switzerland with a record $636 billion. However, India’s external debt rose to $ 593.1 billion in September 2021, from $ 556.8 billion a year earlier.
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Insurers maintain separate current accounts with banks at different operational levels (Branch offices, Controlling offices, Corporate office) for different purposes, including, premium collection, management expenses, policy payments, investment operations.
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Is this surplus in current account temporary? Let's find out in this edition of 3-Point Analysis.
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A lagged pickup in domestic non-oil imports, as well as the potential fresh restrictions that may be warranted in some major trading partners to ward off rising COVID-19 infections, are likely to restrict India's current account surplus to $6 billion in the second half of the fiscal year, Nayar added.
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The RBI should put its foot down and work for an integrated system where dodging banks, regulators and the tax department becomes impossible
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Morgan Stanley feels that Axis may have seen interest based on its strong retail deposit franchise, which make up for almost 80 percent of its funding. However, it has also highlighted concerns on the bank's profitability based on its NPAs.
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Forecasts given by investment houses' research notes and from analysts that Reuters spoke to showed expectations centering on a surplus of USD 4 billion, or 0.8 percent of GDP, in April-June quarter.
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The revision in non-maintenance of QAB charges will be applicable on current general accounts and PNB Smart Banking current accounts with effect from October 1.
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India's imports from the Gulf region, in the fiscal year 2016, fell by a whopping 34 percent due to a fall in crude prices, while exports to the region fell by 17 percent, largely because India exports value-added petro products, says a report by rating agency CRISIL.
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Hartmut Issel of UBS maintained his earlier stance on two Fed rate hikes. He expects the first one to come as early as June. The second hike will come in December, he added.
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India's trade deficit, or the gap between merchandise imports and exports, fell from USD 7.64 billion in January to USD 6.54 billion in February.
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According to the PwC MoneyTree India report, a quarterly study of PE investment activity based on data provided by Venture Intelligence, the fourth quarter of 2015 saw investments worth USD 3.9 billion, a 12 percent drop as compared to the same period of 2014.
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India will post a current account surplus of 0.3 percent of gross domestic product (GDP) in 2015. Gold imports are also set to fall as inflation expectations fall and real deposit rates remain decidedly positive.
