ECONOMY & NATION


Moneylife Digital Team 14 June 2022
Borrowing costs for non-banking financial companies (NBFCs) are seen rising 85-105 basis points (bps) this fiscal. However, overall profitability of NBFCs is expected to remain steady, cushioned by a reduction in credit costs with higher provisioning buffers of the past two fiscals to help...

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Moneylife Digital Team 13 June 2022
The National Company Law Appellate Tribunal (NCLAT), on Monday, upheld the December 2021 order of the Competition Commission of India (CCI) that suspended its earlier order approving Amazon's deal with Future Coupons, and had imposed a Rs202 crore fine on the e-commerce company for...

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Dr B Yerram Raju Dr B Yerram Raju 13 June 2022
The Reserve Bank of India (RBI) raised the repo rate to 4.90% this week, amidst fears of rising inflation that went beyond its expectation. Banks took little time to pass on this rise to their borrowers. The implications have to be seen from the point of view of credit risk, particularly at a...

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Justice Madan B Lokur (The Leaflet) 13 June 2022
Accountability jurisprudence must take root in our justice delivery system so that the culture of impunity that our officials have grown up with gets obliterated from our lexicon.   ----------------------------   Do we have two legal systems prevailing in the country? The...

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Moneylife Digital Team 13 June 2022
Reserve Bank of India (RBI) on 10th June approved the appointment of R Subramaniakumar as managing director and chief executive officer (MD & CEO) of RBL Bank for three years. Mr Subramaniakumar was the administrator of Dewan Housing Finance Corp Ltd (DHFL), which achieved a...

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Moneylife Digital Team 13 June 2022
The Union ministry of information and broadcasting (MIB) on Monday asked the print and electronic media to refrain from publishing ads of online betting platforms. In its 'advisory on advertisement of online betting platforms', the ministry also directed online and social media platforms not...

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India's retail inflation for May moderated from the previous month and came in at 7.04%. However, it remained above the Rserve Bank of India's (RBI's) 6% upper tolerance band for a fifth month in a row, data released on Monday showed.   The retail inflation stayed well above the RBI's...

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Flipkart Co-founder Binny Bansal has sold his stake worth $264 million (more than Rs 2,000 crore) in the homegrown e-commerce platform to Chinese Internet giant Tencent, at a time when the neighbouring country has once again hardened its positions along the Indian border.   The news...

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The crypto winter hammered cryptocurrencies on Monday as the price of a single Bitcoin fell sharply to around $25,600, an 18-month low.   The world's largest cryptocurrency further tanked 7 per cent over fears of risk-off sentiment due to a sharp rise in inflation globally, especially...

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Nita Mukherjee 10 June 2022
While the Reserve Bank of India (RBI) and State Bank of India (SBI) are asking customers to refrain from sharing know-your-customer (KYC) related information over phone, via email or SMS, the Bank, however, is confusing customers, that too after banking hours and over a weekend. A very senior...

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On Wednesday, the Reserve Bank of India (RBI) hiked the repo rate by 50 basis points (bps) or 0.5% to 4.9% in its effort to control inflation. Earlier, in a sudden shock move, on 4th May RBI had raised the repo rate by 40bps. Those who are now in their late-60s or older, would know that one...

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Moneylife Digital Team 10 June 2022
An order passed by the Mumbai unit of the income-tax (I-T) investigation wing in March 2022 lists offshore entities and details of transactions in linked bank accounts adding up to over Rs800 crore of Anil Ambani, the chairman of Reliance Anil Dhirubhai Ambani (ADA) group, says a...

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Moneylife Digital Team 09 June 2022
Even as global uncertainties are in abundance, growth numbers continue to show optimism locally, and the Reserve Bank of India (RBI) could factor in a rate hike in August and even October policy, and take it higher than the pre-pandemic level by August to 5.25% and in October to 5.5%, says a...

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Hours after the Reserve Bank of India (RBI) raised key lending rates, or repo rate, by 50 basis points to 4.9%, global financial services company Moody's Analytics said the central bank could hike the repo rate by another 60bps to 80bps points through the rest of the year.   It,...

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Governor  Reserve Bank of India (RBI), Shaktikanta Das, while estimating India's overall retail inflation for FY22-23 at 6.7%, said that the 75% of the increase in inflation projections can be attributed to the food group.   "It may be noted that around 75% of the increase in...

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Religare Enterprises Ltd's former chairman and managing director (CMD), Sunil Godhwani, was arrested by the economic offences wing (EOW) of the Delhi police on Tuesday in a Rs800 crore fraud case, a police official said.   Mr Godhwani was already under judicial custody pertaining to...

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Moneylife Digital Team 08 June 2022
The Reserve Bank of India (RBI) has raised the limit for recurring transactions which can be conducted without an additional factor of authentication after an initial registration. The limit has been raised from Rs5,000 to Rs15,000, RBI said, as part of its developmental policies announced on...

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Moneylife Digital Team 07 June 2022
Favourable conditions like rising income levels, improved affordability and fiscal support augur well for the demand for homes and housing loans in India will have an exponential growth trajectory for decades to come, says Deepak Parekh, chairman of HDFC Ltd.   In his final letter to...

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Moneylife Digital Team 07 June 2022
On 7th June, even as the new  income-tax (I-T) portal launched last year was completing its first anniversary, the I-T department said software services-provider Infosys has been directed to look into the issue relating to malfunction of search option on the e-filing portal. People who tried...

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Moneylife Digital Team 07 June 2022
Fitch Ratings on Tuesday affirmed its long-term foreign-currency issuer default rating (IDR) on port operator Adani Ports and Special Economic Zone Ltd (APSEZ) at 'BBB-' with a negative outlook.   In a report, the rating agency says, "We continue to assess APSEZ's underlying credit...

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