NEW DELHI: Sustained fiscal deficit reduction, particularly if underpinned by durable revenue-raising reforms, would be positive for India’s sovereign ratings fundamentals over the medium term, Fitch Ratings said on Monday. The rating agency’s statement comes in the backdrop of the recent larger-than-expected Reserve Bank of India (RBI) dividend of...
MUMBAI: Four top European banks, which also play key custodian roles in the local sovereign debt trade, have sought the Reserve Bank of India’s (RBI) go-ahead for a third-party transaction model to break the impasse involving their home authorities and domestic policymakers over audit oversight rights. “There was a...
NEW DELHI: The regulator continues to be unrelenting in its drive to enforce audit quality. While the top five firms auditors came under its scrutiny last year, the National Financial Reporting Authority (NFRA) has decided to widen the ambit of its annual inspection this year. The Big Five, three...
NEW DELHI: With a sharp 62% decline in net foreign direct investment (FDI) to India in FY24 and a looming crisis in finding non-Budget funds to finance infrastructure projects, the Centre is preparing a multi-pronged action plan to attract long-term capital of an additional $50 billion per year from...
NEW DELHI: Jobless growth is a curse, and would dent growth itself. So, improving labour efficiency – and ensuring remunerative wages – are key to boosting the fortunes of the Indian economy, and bolstering the aggregate demand. Reforms of the labour market are bound to be a top priority...
State-owned lenders plan to approach the government seeking changes to terms governing performance bank guarantees (PBGs), timely compensation from concessioning authorities, and greater immunity for board members sanctioning funds for infrastructure projects as they firm up their response to Reserve Bank of India (RBI) draft rules on project financing...
Emerging markets such as India and Indonesia, whose populations are growing at a solid pace, stand to benefit as demographics begin to play a bigger role in investment decisions, according to Fidelity International and BlackRock Investment Institute. The investors are focusing on the two nations in emerging Asia, thanks...
NEW DELHI: India has recorded a trade deficit, the difference between imports and exports, with nine of its top 10 trading partners, including China, Russia, Singapore, and Korea, in 2023-24, according to official data. The data also showed that the deficit with China, Russia, Korea, and Hong Kong increased...
NEW DELHI: India’s GDP in the fourth quarter of financial year 2023-24 is expected to have grown within the range of 6.1-6.7 per cent, lower than over 8 per cent rate recorded in the previous three quarters, according to projections by various economists. The GDP numbers for the fourth...
NEW DELHI: The government has directed telecom operators to block all incoming international spoofed calls that display Indian mobile numbers, an official statement said on Sunday. The Department of Telecom (DoT) said that it has been reported that fraudsters are making international spoofed calls displaying Indian mobile numbers to...
NEW DELHI: Domestic airfares are sailing northwards, surging up to 40 per cent in key routes on higher traffic and capacity constraints in the last six quarters. Still, ticket prices are among the lowest in the world, according to experts. India is one of the world’s fastest growing civil...
NEW DELHI: Foreign investors have pulled out a massive Rs 22,000 crore from Indian equities so far this month, due to uncertainty surrounding the outcome of the Lok Sabha elections and outperformance of Chinese markets. This came following a net outflow of over Rs 8,700 crore in the entire...
NEW DELHI: Fintech unicorns BharatPe Group and PhonePe Group have amicably settled all long-standing legal disputes pertaining to the use of the trademark with the suffix ‘Pe’, both companies said in a joint statement. BharatPe and PhonePe had been involved in long-drawn legal disputes across multiple courts, over the...
A larger-than-expected surplus transfer by the RBI will have a limited impact on India’s medium-term fiscal consolidation, Fitch Ratings said Friday. “While supportive of near-term fiscal performance, the one-off nature of the dividend, however, means the medium-term impact of this windfall on India’s consolidation and debt path will be...
NEW DELHI: With strong growth surpassing market expectations in FY24, early indications suggest a continuation of the economic momentum in the first quarter of FY25, the monthly economic review for April 2024 by the Ministry of Finance said on Friday. “The emerging robust trends in important high-frequency indicators of...
NEW DELHI: The department of telecommunications’ (DoT) receipts for FY24 will be around Rs 10,000 crore less than the revised budgeted target of Rs 93,541 crore, officials said. This is because of some payment related adjustments pertaining to state-owned Bharat Sanchar Nigam (BSNL) that will be accounted for in...
MUMBAI: With liquidity deficit rising consistently, the Reserve Bank of India on Friday conducted a variable rate repo (VRR) auction of Rs 1.25 trillion. This has taken the total liquidity infused through the auctions so far this month to Rs 7.75 trillion. Cash-starved banks have placed bids worth Rs...
MUMBAI: Google is learnt to have invested about $350 million in Flipkart as part of the e-commerce major’s near $1 billion funding round led by parent Walmart. Flipkart did not comment on the specifics of the funding, but sources told TOI that the tech giant has infused about $350...