Economy & Policy

Govt source says FY21 tax shortfall seen around 2.6 trln rupees

Friday, Nov 27, 2020 --Govt source: See FY21 tax mop-up marginally lower than FY20 revised aim --May cut FY21 tax aim sharply after Dec advance tax  By Adrija Chatterjee and Shubham Batra NEW DELHI – The Indian economy may be showing signs of recovery, but tax collections in the current financial year ending March...

Data Alert:Apr-Oct fiscal gap at 9.532 trln rupees, 120% of FY21 aim

Friday, Nov 27, 2020 --Govt Apr-Oct fiscal deficit 9.532 trln rupees vs 7.204 trln yr ago--Govt Apr-Oct fiscal deficit 119.7% of 7.963-trln-rupee Budget aim--Govt Oct fiscal deficit 392 bln rupees vs 689 bln year ago--Govt Apr-Oct revenue gap 7.722 trln rupees vs 5.460 trln year ago--Govt Oct revenue deficit 94 bln...

Centre asks states to exhaust GST loans before extra mkt borrowing

Thursday, Nov 26, 2020 --GST loans cheaper than normal borrowing by states--Some states said don't want entire GST window borrowing By Shubham Batra and Adrija Chatterjee NEW DELHI – The Centre has asked states to exhaust cheaper loans availed through the goods and services tax special window before looking at additional open market borrowing,...

RBI Das says IBA, mkt players working on smooth transition from LIBOR

Thursday, Nov 26, 2020 NEW DELHI - The Indian Banks' Association and various market players are jointly working to ensure the transition from the London Interbank Offered Rate, or LIBOR, to an alternative benchmark is smooth, Reserve Bank of India Governor Shaktikanta Das said today. "The Indian Banks' Association has been working...

Cogencis Poll:India likely in recession, Jul-Sep GDP may shrink 8.8%

Wednesday, Nov 25, 2020 NEW DELHI – The Indian economy likely entered a technical recession in Jul-Sep, with the GDP expected to have contracted for the second consecutive quarter due to the disruptions caused by the COVID-19 pandemic. India's GDP is seen shrinking 8.8% in the second quarter of 2020-21 (Apr-Mar), though an...

INTERVIEW: Shriram City MD sees disbursement normalising in 2-3 qtrs

Tuesday, Nov 24, 2020 By Alekh Archana and T. Bijoy Idicheriah MUMBAI – Shriram City Union Finance has seen a rise in credit offtake, but the non-banking finance company is still two or three quarters away from pre-COVID disbursement level, says Managing Director and Chief Executive Officer Y.S. Chakravarti."Disbursements are improving, but...I...

RBI to use artificial intelligence for regulation, supervision

Monday, Nov 23, 2020 By T. Bijoy Idicheriah MUMBAI - The Reserve Bank of India is looking at increasingly using artificial intelligence and machine learning for supervision and regulation, especially in offsite surveillance and compliance, a senior banking industry source said. "The intent is to continuously make the supervision and regulation data driven...

Rajan, Acharya call proposal to allow cos in banking a 'bombshell'

Monday, Nov 23, 2020 MUMBAI – Granting industrial houses a bank licence--as proposed by a regulatory panel--will allow such companies easy, "no-questions asked" financing through "in-house" banks, and enable the concentration of economic and political power with certain business houses, according to former Reserve Bank of India governor Raghuram Rajan and former RBI deputy governor...

Credit Suisse says cos with sub-1 interest cover dn to mid-2014 levels

Friday, Nov 20, 2020 MUMBAI - The share of debt of companies that are not generating sufficient operating revenue to pay interest fell in the September quarter to levels last seen in mid-2014, led by improvement in the metals and telecom sectors, according to a report by Credit Suisse. During the quarter,...

Govt plans to divest 10% stake in Mishra Dhatu via OFS by Mar-end

Friday, Nov 20, 2020 --Govt source: May raise 3.6 bln rupees through Mishra Dhatu OFS By Sagar Sen NEW DELHI – The government is planning to sell 10% stake in Mishra Dhatu Nigam Ltd through an offer-for-sale of shares by the end of March, a senior finance ministry official said. The government currently holds 74%...


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