Economic & Finance News

8 years of Make in India, FY23 FDI on track to cross $100 billion, says Centre

“Make In India has substantial accomplishments across 27 sectors. These include strategic sectors of manufacturing and services as well,” the commerce and industry ministry said in a statement. [...]

Economic reforms, ease of doing biz likely to take India's FDI to $100 bn this fiscal, says government

"This FDI has come from 101 countries, and invested across 31 union territories and states and 57 sectors in the country. On the back of economic reforms and Ease of… [...]

India's forex reserves drop $5.2 billion to $545.652 billion, as of September 16

Following the monetary tightening across the globe, the dollar rallied to a 20-year high. RBI's action back home to prevent sharp depreciation of the rupee may lead to further fall… [...]

It’s every nation for itself as dollar batters global currencies

While the problems in currency markets right now are in many ways reminiscent of the 1980s, the solutions are unlikely to be. Back then, the world’s economic superpowers agreed to… [...]

Lenders invite fresh resolution plans for Twin Srei companies

Lenders of twin Srei companies passed resolutions to lower the earnest money deposits (EMD) to ₹50 crore from ₹150 crore and the performance bank guarantee to a minimum of ₹300… [...]

Microfinance sector grows 24% in June quarter; loan disbursals rise nearly 80%

Micro loan disbursals during the June quarter improved sharply to Rs 45,830 crore as compared with Rs Rs 25,503 crore seen in the same period a year ago. The number… [...]

Over Rs 58,000 crore in taxes lost due to illicit trade in FMCG, mobile, tobacco, alcohol industry: Ficci report

The FMCG industry alone accounted for 75% of the total illicit value of goods in five key industries. Tobacco products and alcoholic beverages- two highly regulated industries - account for… [...]

As pace slows, PMO seeks to add impetus to asset monetisation

"A monitoring committee may be able to draw ministries, departments and public sector enterprises out of their reluctance," an official said. The finance ministry's FY24 budget circular issued on September… [...]

India's success in popularizing digital payment has proved sceptics wrong: Nirmala Sitharaman

​​During the lockdown induced by the COVID-19 pandemic, people received money in their bank accounts just by pressing a button, she said. "If they could not go to the bank… [...]

$25 billion investment expected to flow into India's new semiconductor plan

Changes in production-linked incentive (PLI) scheme for manufacturing of semiconductor were approved by the Cabinet on Wednesday. [...]

We're very ambitious about India, says International Finance Corporation MD

In FY22, IFC committed a record $32.8 billion to private firms and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost… [...]

Short-term rates surge as net surplus liquidity nears zero

The weighted average rate in the interbank call market, where banks lend and borrow among one another, was at 5.61% on Monday versus 5.17% last Thursday and 5.20% Friday, reflecting… [...]

FM Nirmala Sitharaman urges IFC to scale up India lending to $3.5 billion in 3-4 Years

Finance minister Nirmala Sitharaman conveyed this to IFC managing director Makhtar Diop at a meeting on Monday. [...]

FY23 credit growth seen at 13%; deposit rates set to move higher: Ind-Ra

The agency also upwardly reviewed its credit growth estimate to 13 per cent from the earlier expectation of 10 per cent, on higher working capital demand, shift to bank lending… [...]

Market News

Ahead of Market: 10 things that will decide D-St action on Tuesday

Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said, “the steep weakness continued in the market for the second consecutive session on Monday, and Nifty closed the day lower by 311… [...]

Bank of England says it "will not hesitate" to raise rates

BRITAIN-BOE/ (UPDATE 1)UPDATE 1-Bank of England says it "will not hesitate" to raise rates [...]

Sebi comes out with modalities for investment adviser applications

As per the provisions of investment advisers rules, the administration and supervision of Investment Advisers (IAs) has been delegated to BASL. [...]

Zee Media case: Sebi levies Rs 4 lakh fine on 25FPS Media for disclosure lapses

The order came after Sebi conducted an examination in the scrip of Zee Media Corporation for the period April 2019-2020. [...]

D-Street valuations quite expensive even without factoring in rate hikes: Kotak Institutional Equities

Primarily, valuations of consumption as well as investment stocks are way higher than historical levels. The market typically expects a fast normalization in respect of both interest rates as well… [...]

BSE receives Sebi's final approval to launch EGR on its platform

Leading stock exchange BSE on Monday said it has received the final approval from the capital markets regulator Sebi for introducing the Electronic Gold Receipt (EGR) on its platform. [...]

Nifty finds no buyers at lower levels. What investors should do on Tuesday

A long bear candle was formed on the daily chart, which chart readers say indicate a sharp down-trended movement in the market. Nifty’s biggest support will be at 16,907, while… [...]

Nifty Bank: Key levels to watch out for on Tuesday

The index breached its important support levels, and pullback rallies should be utilized to initiate fresh short positions. The higher-end resistance is visible at the 39,500-40,000 zone, and the next… [...]

Nasdaq rises as battered growth stocks show recovery signs

At 10:09 a.m. ET the Dow Jones Industrial Average was down 119.29 points, or 0.40%, at 29,471.12, the S&P 500 was up 3.43 points, or 0.09%, at 3,696.66 and the… [...]

Tech View: Nifty50 breaks below 50-DMA; It is officially a ‘sell on rise’ market, caution experts

The Nifty50 index plunged by more than 1 per cent for the second consecutive day in a row, and it looks like the index officially entered a ‘sell on rise’… [...]

Navratri Special pick by Religare Broking: HCL Tech could give nearly 50% return in next 1 year

Apart from their capabilities, HCL has partnerships with Amazon Web Services (AWS), IBM, Microsoft, Google (for cloud), Dell, CISCO, Adobe, etc. to provide solutions to clients in their digital journey.The… [...]