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Friday, July 01, 2022

Sunny Verma


Sunny Verma is a Senior Assistant Editor with The Indian Express and writes on economy and finance.

Indian banks avoid Russia entities on West blacklist
Fri, Mar 25, 2022

With the US and European nations blocking major Russian financial institutions from SWIFT, those entities on the sanctions list are unable to receive confirmations for fund transactions executed through the globally accepted messaging network.

Explained: The US Fed Reserve’s rate hike, and its impact on markets, RBI policy
Thu, Mar 17, 2022

The US Federal Reserve has raised interest rates by 25 basis points, the first hike since 2018. What impact has this had on markets? Will it impact the Reserve Bank of India's monetary policy decision?

As crude oil prices ease, govt to wait and watch on excise duty cut
Thu, Mar 17, 2022

India imports about 85% of its crude oil requirements

Fertilisers likely to hike subsidy bill, but tax mop-up may keep deficit in check
Mon, Mar 14, 2022

Finance Ministry expects oil prices to cool off in the next 2-3 months as the impact of the geopolitical tensions may get eased by higher production from the United States and the OPEC member countries.

National Land Monetization corporation: Cabinet clears agency to monetise Govt land
Thu, Mar 10, 2022

To be fully owned by the Centre, under the administrative jurisdiction of the Finance Ministry, NLMC will have an initial authorised share capital of Rs 5,000 crore and paid-up share capital of Rs 150 crore.

Budget’s infra plans may take a hit as war fallout spills over
Wed, Mar 09, 2022

Government-led spending plans, leveraging infrastructure and capital expenditure to revive growth in the Budget for next fiscal, runs the risk from the uncertainties emanating from the ongoing Russia-Ukraine conflict.

Seize opportunity to export best-quality wheat, urges PM Modi as demand surges amid Russia-Ukraine war
Wed, Mar 09, 2022

Wheat prices have skyrocketed globally due to the geopolitical situation, especially since Russia and Ukraine are the world’s second-largest and fourth-largest wheat exporters, respectively

For bond market liquidity, FinMin looking at institution for buying debt
Mon, Feb 28, 2022

The DEA is working closely with Sebi. Such an entity is being seen as crucial especially during times of stress in financial markets, which freezes liquidity sometimes even for investment-grade bonds.

Credit score ‘misused’: How to fix this key metric
Tue, Mar 01, 2022

A customer can check her credit score and whether any loan (which has not be taken) is outstanding through the reports furnished by respective credit information bureaus.

Explained: Why digital lenders have come under the scanner
Thu, Mar 03, 2022

As per the findings of an RBI Working Group, released in November 2021, as many as 600 out of 1100 lending apps currently available for Indian Android users across 80 application stores are illegal apps.

Ahead of IPO, Govt clears 20% FDI in LIC under automatic route
Sun, Feb 27, 2022

“The change in FDI policy is sufficient to facilitate foreign investment in LIC up to 20 per cent,” said a government official noting that an amendment to the LIC Act, 1956, was not required.

Explained: Importance of credit score in getting a loan and how can one fix it
Thu, Mar 03, 2022

What is credit score, when is it downgrade, and how can a customer rectify it?

Palanivel Thiaga Rajan interview: Power being taken from states to the Union, creating complexity
Mon, Feb 21, 2022

'Why should it be in the Union’s interest that you cannot prepay? On what logic does it make sense? what purpose is served by not allowing prepayment?'

Centre’s loans for capex push ties our hands, say Opposition states
Mon, Feb 21, 2022

States are flagging specific concerns about how the 50-year loans, specifically earmarked for capex in the budget for next fiscal, will “tie them up” as per the Constitutional obligation under Article 293 (3), under which they need to seek the Centre’s permission for any borrowing in future.

Board knew of NSE chief’s misconduct but let her resign with glowing praise
Sun, Feb 20, 2022

Board did not inform market regulator SEBI of the ‘grave irregularities’

Inflation over comfort range of 6%; no need for alarm: RBI
Tue, Feb 15, 2022

India CPI Inflation Rate January 2022: The retail inflation which is measured by the Consumer Price Index (CPI) for December 2021 was revised to 5.66 per cent from 5.59 per cent, government data revealed.

Explained: Despite govt’s climate focus, why grants to a key adaptation fund are sliding
Thu, Feb 10, 2022

Grants released under NAFCC fell from Rs 115.36 crore in 2017-18 to Rs 42.94 crore in 2020-21, and Rs 27.76 crore (till December 2021) in the current year.

Infra push has larger, lasting multiplier effect, will create demand, jobs: Economic Affairs Secretary
Mon, Feb 07, 2022

There is a view that fiscal consolidation has been on the lower side and gross market borrowing is higher than expected. Could it crowd out private investment?

‘FY22 tax collections historic high … next year a window to cash in on the good times’: CBDT Chairman JB Mohapatra
Sun, Feb 06, 2022

"The department is in a very good space right now. Unlike last year, and before that one, when we were struggling for collections. This year collections have been good thankfully and hopefully another three months will go in this manner," Central Board of Direct Taxes (CBDT) Chairman JB Mohapatra said.

Budget a continuity of 2021 policies…capex push to lead lasting revival: FM
Sun, Feb 06, 2022

Nirmala Sitharaman was responding to a specific query from Bajaj Finserv CMD Sanjiv Bajaj regarding the timeline for privatisation of two-state owned banks and one general insurance company.

Interview with Secretary, DIPAM: ‘Entering difficult phase; nuanced divestment to have far-reaching impact’
Fri, Feb 04, 2022

'We believe there is sufficient capacity in today’s India to have multiple players who can think along these lines, build large infrastructure, manage large companies as well as large shareholders.'

Govt getting ready to sell IDBI Bank, may keep some stake: Top official
Fri, Feb 04, 2022

The government will also file the Draft Red Herring Prospectus (DRHP), or the primary prospectus, of Life Insurance Corporation (LIC) with the market regulator next week, and expects to list it on stock exchanges by the end of the financial year.

Tax revenue may cross RE; without excise we get 14% rise next year: Bajaj
Thu, Feb 03, 2022

"For excise duty, we have taken a hit of about Rs 50,000-60,000 crore and for customs duty it was overall Rs 18,000-20,000 crore," says Revenue Secretary Tarun Bajaj.

CBDT chief: Changes to I-T law have huge revenue implications
Thu, Feb 03, 2022

Making a retrospective amendment to the Income-tax Act from 2005-06, the Budget clarified that cess and surcharge will not be allowed to be claimed as deductions in the form of expenditure.

LIC IPO key: Divestment numbers missed, Budget dials down target
Wed, Feb 02, 2022

While Finance Minister Nirmala Sitharaman had set a target of Rs 1.75 lakh crore through disinvestment in the Budget estimates in 2021-22, the target has now been revised to Rs 78,000 crore. And for the year 2022-23, she has set a softer target of Rs 65,000 crore.