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The Rupee depreciation catch: Import intensive exports likely to take a hit
Usually, a depreciation in the domestic currency is expected to give a boost to exports, as traders get more local currency when they convert the export proceeds, but importers, on the other hand, need more local currency to buy the same quantity of imported inputs.
Retail inflation over 6% second month, all eyes on RBI meeting
The RBI has projected retail inflation at 5.3 per cent for FY22, with Q4 inflation at 5.7 per cent before easing to 4.9 per cent in Q1 FY23.
India’s retail inflation spikes to 6.07% in February: Govt data
India CPI Inflation Rate February 2022: The retail inflation which is measured by the Consumer Price Index (CPI) was 6.07 per cent in February, government data revealed.
India’s WPI inflation spikes to 13.11% in February: Govt data
India's WPI Inflation February 2022: The wholesale price index (WPI) grew 12.96 per cent during January and it rose to 14.27 per cent in December 2021, the data from the Ministry of Commerce & Industry showed.
Currency assets boost forex reserves to $631.9 bn
During the previous week ended February 25, the foreign exchange — or forex — reserves had declined by $1.425 billion to $631.527 billion. In the reporting week, the gain in reserves was fuelled by a rise in the foreign currency assets (FCA).
HDFC Bank set for Digital 2.0 as RBI lifts curbs on business generating activities
In December 2020, the banking regulator had directed HDFC Bank to temporarily halt all digital launches as well as new sourcing of credit card customers, following various outages that the private lender faced due to technical glitches in the past two years.
RBI Deputy Governor: War fallout ‘may trigger re-calibration of forecasts’
In 2022, India faces similar risks as in 2013 from surging international crude prices and the volume of gold imports, he said. Yet, the external sector is much more viable than it was in 2013.
Covid, lockdown hit MSMEs hardest, their bad loans spiked Rs 20,000 crore in 2020-21
Gross non-performing assets (NPAs) of MSMEs, or loans defaulted by these enterprises, rose by Rs 20,000 crore to Rs 1,65,732 crore as of September 2021 from Rs 1,45,673 crore in September 2020, the RBI said in response to a Right to Information (RTI) application by The Indian Express.
IIP Data January 2022: India’s industrial output climbs 1.3% in Jan, says Govt data
IIP India Growth Rate Data January 2022: The industrial growth so far in the fiscal year 2021-22 (April-January) has grown 13.7 per cent, compared to a contraction of (-)12.0 per cent in the corresponding period year ago, the data from Ministry of Statistics & Programme Implementation (MoSPI) showed.
‘Current account deficit likely to hit 10-year high’
The risk would stem from a further sustained rise in oil prices, leading to quick deterioration in macro stability and currency volatility, Morgan Stanley said.
India likely to grow at 7.8% in FY23 with risk tilted towards downside: Crisil report
The rating agency, however, cautioned that the ongoing Russia Ukraine war and rising commodity prices do pose a downside risk to the growth.
National Land Monetization corporation: Cabinet clears agency to monetise Govt land
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.
‘50% of women not financially independent’
About 33 per cent of the women finds “cost of living” as one of the challenges or barriers for being financially independent, the survey by SBI General insurance said.
Despite volatility, equity funds get Rs 19,705 crore in February despite 3% market fall
The Association of Mutual Funds in India (Amfi) said the industry registered an overall net inflow of Rs 31,533 crore in February, compared with a net inflow of Rs 35,252 crore in the preceding month.
We see clear advantages in a central bank driven digital currency: Nirmala Sitharaman
Asked about regulating the crypto sector, the Minister, not willing to get into whether the government would be regulating or banning it, said after the consultation, the government would be talking about it.
Necessary to accelerate eco-friendly projects to meet net-zero carbon emissions: PM Modi
Speaking at a post-budget webinar on 'Financing for growth and aspirational economy', Modi said that India has set a target of net-zero carbon emissions by the year 2070. To speed up work on this, it is necessary to accelerate environment-friendly projects.
‘Women start availing more home, auto loans’
The share of female borrowers in home loans has increased by two percentage points to 31 per cent in the Rs 24,99,460 crore home loan market as of December 2021.
BharatPe co-founder: Ashneer Grover creating ‘false narrative’, board upheld ‘governance’
Accusing Ashneer Grover of creating a “false narrative” about BharatPe, Shashvat Nakrani wrote: “What is important to note is that this is an aberration and not the norm.”
Piyush Goyal: Look to advance CEPA with Bangladesh in coming days
In FY21, trade with Bangladesh accounted for about 3.3 per cent of exports at $9.7 billion and 0.3 per cent of imports at $1.3 billion.
Central banks in a bind, geopolitical situations aggravate dilemmas: Das
The RBI kept the repo rate unchanged for the tenth time in a row at 4 per cent and retained the accommodative policy stance in the February policy review.
Monetary policy is an art of managing expectations, says RBI Governor
The central bank also recognise that communication needs to be backed by commensurate actions to build credibility and instil wider confidence in policies.
Accommodative stance carries with it the risk of falling behind the curve: RBI MPC member Jayanth Varma
The Monetary Policy Committee (MPC) should do more to communicate its resolve to defend the inflation target, and its willingness to raise rates as and when required, said Jayanth Varma, Member of the MPC of the Reserve Bank of India (RBI).
Risk of RBI falling behind curve on inflation: member of monetary panel
Consumer price inflation which crossed the RBI’s upper tolerance level of six per cent to 6.01 per cent in January is likely to hit the seven per cent mark as crude prices touched $116 per barrel recently.
PM Modi, Piyush Goyal to industry: Cut imports, support local manufacturing
Prime Minister Narendra Modi called on industry to cut imports of goods that can be manufactured in the country. “Today, the world is looking at India as a manufacturing powerhouse,” he said, adding that industry will have to maintain global standards and compete globally.
GST collection up 18% at over Rs 1.33 lakh crore in February
The February mop-up was impacted by the Omicron wave that swept through the country and hence, the gross sales tax collection was lower than the record Rs 1,40,986 crore netted in January.
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