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RBI's ₹2 lakh-crore boost may help India's new govt have an easy-peasy run to achieve a goal
The RBI on May 22 announced a record-high dividend transfer to the government equivalent to 0.6 per cent of GDP ( Rs 2.1 lakh) from its operations in FY24. The figure has surpassed the 0.3 per cent of GDP expected in the FY25 budget from February. Hence, the rating agency said that it will aid the authorities in meeting near-term deficit reduction goals.
RBI's record dividend presents a delicious dilemma for new Indian government
As India prepares for a new government by June 4, a significant Rs 2.11 lakh crore windfall awaits allocation. Options range from faster deficit reduction to increased spending. Analysts anticipate positive investor sentiment, though preferences vary between deficit reduction and expenditure. The BJP-led government's cautious approach contrasts with opposition promises
India to get rating support if it uses RBI dividend to reduce fiscal deficit: S&P analyst
S&P Global Rating suggests India could improve its rating if it channels the record Rs 2.1 lakh crore dividend from the RBI to reduce fiscal deficit. The dividend, around 0.35% of GDP, could aid fiscal consolidation, potentially supporting a faster path to reducing the deficit and boosting India's creditworthiness.
Travel planning 101: 52 places you must visit in 2024
Planning your next holiday? Consider adding these destinations to your itinerary for the perfect vacation.
UBS seeks to hire several private bankers to serve India’s rich
UBS is aiming to create more products to compete for managing the wealth of rich Indians. The bank plans to add at least seven relationship managers to bring its total advisory strength in India to around 25. UBS is also employing two senior executives from rival firms in portfolio management services, who develop India-specific products.
Singapore's Temasek reports portfolio value drop, positive on China tech
The drop in net portfolio value is its first since the 2019 financial year and came amid intensified global market volatility.
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Biggest losers of AI boom are knowledge workers: McKinsey report
A few years ago, McKinsey had estimated that about half of worker hours worldwide were spent on tasks that could be automated. Now it’s raising the figure to as high as 60-70%.
Charting the global economy: ECB hikes despite banking turmoil
The European Central Bank, Denmark and Argentina hiked interest rates this week.
Who wears crop tops to the office? Casual dressing at work signals the next evolution in our workplace wardrobe
Visible tattoos are acceptable and blue jeans, sneakers have become the norm.
Myanmar political standoff leaves economy in tatters
The military takeover in Myanmar has set its economy back years, if not decades, as political unrest and violence disrupt banking, trade and livelihoods and millions slide deeper into poverty.
Indian states need more financial support from Modi government, says an S&P report
The Covid-19 pandemic could increase budget deficits and indebtedness of state governments as spending needs to exceed revenue collected, S&P Global analysts YeeFarn Phua and Ruchika Malhotra said in a report.
Blockchain brings unicorns to millennials
Why should only the wealthy get to ride unicorns to further riches?
Yes Bank seeks CBI probe against Cox & Kings group
Yes bank current management alleges payment of kickbacks and laundering of money related to loan transactions with the Cox & Kings Group (CKG). The irregularities were found during a financial audit of the bank carried out by PricewaterhouseCoopers.
A startup aims to bridge a yawning gap entrepreneurs in the social enterprise sector face
“Some social enterprises receive small grants that help them kickstart the organisation. But the ‘what next’ answer was not available in the market, which is where we came in” says, Edward Yee, cofounder of Givfunds.
India biggest commitment for AIIB: official
Yee Ean Pang, AIIB's Director General for Investment Operations Department, also underlined the multi-lateral bank's focus in India on development of rural roads, transmission lines and green projects among others.
Great farmer bailout imperils India sovereign-rating upgrade
A farmer bailout may not just prove inflationary and impinge on the central bank’s ability to cut interest rates, but also cause states to increase their borrowings.
Ashish Vohra to take over as Reliance Life CEO
As Max Life moves to merge with HDFC Life, many in the senior to middle management are left with little choice but to leave the company.
Meet the Goldman Sachs team that has been crushing tech banking
Goldman Sachs has made $497 million this year advising technology companies on anything from acquisitions to equity and debt deals.
PE Funds to put Rs 450 crore into Lotus Greens’ Noida project
Clearwater Capital did not respond to an email questionnaire. The Noida Authority had awarded the bid to build the sports city to Lotus Greens in July.
Banks to offer higher returns on NRI deposits to lure dollars
Banks can now give 125 basis points over Libor – benchmark rate in international money markets on foreign currency non-resident accounts.
Some fear big gambling expansion at Wall Street
California Governor Arnold Schwarzenegger is dramatically overestimating the jackpot the state could collect if it sold the rights to operate the lottery to an outside company.
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