INCLUSIVE GOVERNANCE
Proxy debt plays may slow as JPM index inclusion progresses
Analysts predict the Centre will maintain or reduce the fiscal deficit target to 5% of GDP in the upcoming budget, as foreign investment in Indian government bonds surges post JP Morgan index inclusion.
8% GDP growth not sustainable yet; bond index inclusion may see short-term volatility: Abheek Barua
After the inclusion in the JP Morgan global bond index, in the short term. we need to prepare for volatility. But in the long term, the collateral and the second-round benefits are huge, says Abheek Barua. He expects this to lead to an improvement in the fixed-income ecosystem, which unfortunately has not taken off that well
007 Effect! JPMorgan bond inclusion can attract $2-3 billion monthly FII inflows into India
Since October 2023, non-residents have invested nearly $15 billion in Indian government bonds, including $5 billion through USD-settled, INR-denominated supranational bonds. Starting from Friday, passive fund inclusion will begin at a rate of 1% per month, leading to total inflows of $25-30 billion by the time full weightage is reached.
What JP Morgan bond index inclusion means for India's economic future? Jayesh Mehta answers
This is significant, as you mentioned—it's a notable event. The only caveat is that this recognition of India should have come much earlier, but finally, India has been acknowledged.
Finance Ministry calls meeting with PSBs to review financial inclusion schemes ahead of budget
Finance ministry has scheduled a meeting on Tuesday with heads of state-owned banks and financial institutions. The purpose of the meeting is to review the progress of the government's key financial inclusion schemes, including the Jan Dhan Yojana, Jan Suraksha Yojana, and Mudra Yojana, ahead of the budget.
SLBCs can play effective role in financial inclusion by better coordination with govt, NGOs: RBI DG
RBI Deputy Governor Swaminathan J emphasized the crucial role of State Level Bankers' Committees (SLBCs) in advancing financial inclusion. He highlighted their potential for better coordination with governments and NGOs, effective credit planning, and promoting digital financial literacy. Swaminathan urged SLBCs to bridge the gap between financial services and underserved communities, fostering inclusive and sustainable economic growth.
FPIs’ G-Sec purchases cross $10-billion mark
Nine months after JP Morgan announced the inclusion of Indian government debt in its emerging markets index, foreign portfolio investors have increased their ownership of sovereign bonds by over $10 billion. The influx of funds is expected to continue as India's index weightage grows.
JPMorgan says foreign holdings of Indian bonds could double over next year
JP Morgan's inclusion of Indian bonds in the GBI-EM Global index suite is expected to attract $20-25 billion in foreign flows. Over $10 billion has already been invested in Indian government bonds, as per Reserve Bank of India data.
Rate cut hopes, inclusion in JPM index fuel ‘FOMO’ trades in GSecs
Indian sovereign debt players bond with bonds following Mint Road's move to decelerate rate-increase drive and JPMorgan's recognition. CCIL data shows a 40% increase in monthly trades, reaching ₹8.6 lakh crore in 2023.
Transgender community members, sanitation workers, labourers to attend Modi's oath ceremony
Transgender community, labourers, and sanitation workers who contributed to the new parliament building are invited to PM-designate Narendra Modi's swearing-in ceremony. BJP MPs felicitated them as part of PM Modi's inclusivity message. This is the first formal invitation to the transgender community for such an event.
NCBC may delist some of 37 castes from Bengal on central list
37 castes from West Bengal included in Central OBC List by UPA government are under NCBC scanner after Calcutta high court invalidated OBC certificates issued by West Bengal government post-2010.
Centre to take decisive steps to strengthen banking system, says Finance Minister
In a post on X, Sitharaman said India's banking sector turned around due to Prime Minister Narendra Modi's strong and decisive leadership, and recently achieved a significant milestone by recording its highest-ever net profit of over ₹3 lakh crore. "During FY 2023-24, public sector banks recorded the highest-ever aggregate net profit of ₹1.41 lakh crore, almost 4 times higher than ₹36,270 crore in FY 2014," she noted, adding that the government has turned banks from being "NPA-laden nightmares" into "pillars of jan kalyan".
Modi govt turned around banking sector, over Rs 10 lakh crore bad loans recovered in 10 years: Nirmala Sitharaman
Finance minister Nirmala Sitharaman highlighted the Modi government's success in the banking sector, recovering over Rs 10 lakh crore from bad loans. The Enforcement Directorate investigated 1,105 bank fraud cases, attaching proceeds worth Rs 64,920 crore.
Welfare schemes, policies in India not oriented towards poor: P Chidambaram
Senior Congress leader P Chidambaram criticized the current welfare schemes in India, stating they aren't effectively targeted towards the poor. Speaking at an event, he emphasized the need for policies to be oriented towards marginalized sections like SCs, STs, and the poor to achieve an egalitarian society. Chidambaram advocated for universal and free healthcare and education as essential components of such a society, citing examples from European nations.
Foreigners boost India corporate debt buying before govt bond index inclusion
Foreign investors show increasing interest in Indian rupee-denominated corporate debt ahead of the inclusion of Indian government securities in a global bond index, expecting passive inflows of around $25 billion. Recent data highlights purchases in corporate bonds, interest in launching ETFs, and robust demand for dollar bonds.
India's long-term bonds attract foreign investors as JPMorgan index inclusion nears
Overseas investors are buying longer-duration Indian government bonds in anticipation of inclusion in JPMorgan's emerging market debt index, expecting significant passive flows. Bonds with maturities of 10 years and more, notably the 7.18% 2033 and 7.30% 2053, have attracted foreign ownership amidst net selling of government bonds in recent weeks.
Inclusive growth should be priority of government: Vijay Shekhar Sharma, Paytm
Vijay Shekhar Sharma, MD of Paytm, emphasizes the importance of economic growth reaching every corner, urging the next government to prioritize this focus.
Modi's 'dhakad' government brought down wall of Article 370: PM Modi in Ambala
Prime Minister Narendra Modi addressed a rally in Haryana, criticising the Congress for betraying India's forces and soldiers. He highlighted his government's decision to revoke Article 370, leading to development in Kashmir. Modi emphasized the strength of his government and its impact on national security. The rally focused on patriotism and upcoming Lok Sabha poll results.
Congress repeats it will double free ration if INDIA bloc wins; says BJP is spreading lies
The Congress party accused the BJP of spreading misinformation about food rations in India. They declared that Karnataka's successful 10 kg free rice scheme 'Anna Bhagya' will be extended nationwide by an INDIA bloc government. The party promised to double free ration allotments if elected.
Load More
