Month: August 2021

Chief economic adviser says structural reforms set India for robust growth

India’s macroeconomic fundamentals are much stronger, and the country is all set for robust growth on the back of structural reforms, the government’s capex push and rapid vaccination, Chief Economic Adviser KV Subramanian said on Tuesday. Briefing media on the growth number, he said the GDP data for the first quarter reaffirms the government’s prediction …

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RBI will conduct fine-tuning operations to manage unanticipated liquidity flows

Reserve Bank of India (RBI) will conduct fine-tuning operations to manage unanticipated and one-off liquidity flows to ensure balanced liquidity conditions in the system, Governor Shaktikanta Das said on Tuesday. The Governor said that in the monetary policy statement of August 6, he had set out a road map for the gradual restoration of the …

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Core industries report 9.4% growth in July, against -7.6% in year-ago period

The ministry of commerce & industry said that the production of coal, natural gas, refinery products, fertilizers, steel, cement and electricity industries increased last month as against July 2020. The eight core industries reported a 9.4% growth in July as compared to a -7.6% contraction during the same period a year ago, according to government …

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Royal Twinkle Star Club, Citrus Check Inns properties to be auctioned in Sept

Sebi’s move is intended to recover funds worth thousands of crores of rupees raised by these companies in the garb of the sham ‘timeshare holiday’ plans. The auction will be conducted through online mode. Written by Shankhyaneel Sarkar, Hindustan Times, New Delhi PUBLISHED ON AUG 31, 2021 08:13 PM IST Market regulator Securities and Exchange …

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Stock brokers’ body worry shift to T+1 system may impact foreign investors

The Association of National Exchanges Members (Anmi) on Tuesday said that shifting to the T+1 settlement system would lead to India turning into a pre-funding market. It also said that the shift would cause global institutional investors to face multiple issues with the structure. At present trades on the Indian stock market are settled within …

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Covid-19 delta variant hits Chinese economy as services industry contract

China’s economy took a knock from the delta virus outbreak in August, adding to signs of a slowdown in growth in the second half of the year and fueling speculation of more central bank support. The official purchasing managers surveys showed the services industry contracted for the first time since February 2020 as consumers cut …

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Facebook, Xiaomi to enter India’s $1 trillion digital loan market

India’s digital loan market is becoming a battleground for companies from Facebook Inc. to Xiaomi Corp., seeking a foothold in what’s set to be a $1 trillion industry.  Facebook this month said India would be the first country where it rolls out its small business loan program offering loans via a partner to firms that …

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