ECONOMY


Only under-utilised brownfield assets will be monetised under the National Monetisation Pipeline (NMP) of the Centre worth Rs 6 lakh crore, Finance Minister Nirmala Sitharaman said on Monday.   Besides, no land parcels will be taken up under the NMP, she said after unvieling the asset...

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Continued unlocking across the country has accelerated the improvement in various high frequency industrial and service sector indicators during July 2021, said ICRA.   According to Aditi Nayar, Chief Economist, ICRA: "With the further easing of the state-wise restrictions, especially...

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India's largest credit card issuer HDFC Bank on Monday said it aims to add five lakh new credit cards to its portfolio every month beginning February 2022.   Accordingly, the new additions will enable the bank to regain market share in the credit card issuing business in the next 9 to...

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Governor of the Reserve Bank of India (RBI) Shaktikanta Das has said that the resurgence of inflation in May and June reignited the debate on monetary policy response.   The minutes of the last meeting of the monetary policy committee (MPC) showed that Mr Das said that the approach by...

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Moneylife Digital Team 19 August 2021
The Reserve Bank of India (RBI) has revised its guidelines for locker facility provided by banks, and fixed banks' liability at 100 times the annual rent of the safe deposit locker in case of loss of contents due to fire, theft, burglary, dacoity, among others. The new guidelines would be...

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Spurted by comfortable liquidity conditions, the financial condition of the economy stays benign and is supportive of recovery, the Reserve Bank of India (RBI) Bulletin for August said.   The bulletin noted that the course of the economy over the month and a half gone by has been...

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Quaid Najmi (IANS) 11 August 2021
It's official. The much-touted Rs20-lakh-crore special pandemic package, announced in May 2020 to revive the COVID-hit economy, was apparently a dud, according to reply under RTI (Right to Information) released here on Wednesday.   Hoping to unravel the exact benefits of the historic...

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Subhash Narayan (IANS) 10 August 2021
Cost of diesel incurred as part of a composite service will attract GST even though the fuel itself has not been included under the new indirect tax system, it has been held.   In a significant order, the Karnataka bench of Authority for Advance Ruling (AAR) has ruled that the cost of...

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Moneylife Digital Team 09 August 2021
The Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill, 2021 which was passed in the Lok Sabha on Monday will also help the Reserve Bank of India (RBI) in the process of dealing with stressed banks.    The amendment would give RBI-run DICGC greater say in a stressed...

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Moneylife Digital Team 09 August 2021
Passenger vehicle (PV) retail sales witnessed a year-on-year (y-o-y) growth of 63% to 261,744 units in July 2021 due to the lifting of lock-down curbs as well as a low base recovery, as per data shared by the Federation of Automobile Dealers Associations (FADA) on Monday.   Total...

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Moneylife Digital Team 06 August 2021
To support a faster economic recovery amid the COVID-19 pandemic, the Reserve Bank of India (RBI) on Friday retained its key short-term lending rates along with the growth-oriented accommodative stance during the August monetary policy review of FY21-22.    The monetary policy...

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Moneylife Digital Team 05 August 2021
The parliamentary standing committee on finance headed by Lok Sabha member and former minister of state for finance Jayant Sinha has noted in its report that banks are parking their stressed assets with asset reconstruction companies (ARC) to hide the actual extent of bad debts and cautioned...

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 Covid-19-triggered local restrictions continued to subdue India's service sector production in July, but the rate of declined has slowed, the IHS Markit India Services PMI report said.   Business activity, new orders, and employment declined further, but in all cases, the rates of...

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Moneylife Digital Team 04 August 2021
The Parliamentary standing committee on finance’s report on the Insolvency and Bankruptcy Code (IBC) has come down heavily on the Union government and pointed out a number of shortcomings in the Code while recommending an overhaul.   Taking a grim view, the standing committee headed...

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Moneylife Digital Team 03 August 2021
The finance commission (FC) had recommended that borrowings by states should be linked to the size of the gross state domestic product (GSDP). However, this often results in information asymmetry as GSDP numbers of states undergo revisions like any other macro number. Given the borrowings...

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Moneylife Digital Team 03 August 2021
The Reserve Bank of India (RBI) will continue with its accommodative monetary policy stance till end of 2021 as the recent easing of commodity prices would relieve the pressure on the retail inflation in coming months, says India Ratings and Research (Ind-Ra).    In a note, the...

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Arul Louis (IANS) 28 July 2021
The Delta variant-spurred Covid-19 second wave has shaved off 3 per cent from the International Monetary Fund's (IMF) previous projection for India's economic growth for fiscal year 2021-22, pegging it now at 9.5 per cent, but the country still remains the world's fastest-growing large...

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Moneylife Digital Team 20 July 2021
Owing to the second wave of the COVID pandemic, the Indian economy is likely to mirror a similar trend seen in FY20-21, when the first half of the financial year is weaker and the second half is significantly stronger, says Deepak Parekh, chairman of Housing Development Finance Corp Ltd...

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Moneylife Digital Team 16 July 2021
With the rising prices of fuel and essentials amidst the COVID-19 impact, as many as 79% consumers believe their household earnings for FY21-22 will decline, while 49% expect decline in savings, as per a survey conducted by LocalCircles.   According to the survey, 79% households say...

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Moneylife Digital Team 13 July 2021
S&P Global Ratings has affirmed its 'BBB-' long-term and 'A-3' short-term unsolicited foreign and local currency sovereign ratings on India with a stable outlook. The BBB- ratings from S&P denotes the entity to have adequate capacity to meet financial commitments, but more subject to adverse...

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