Goldman Sachs revised upwards its forecast for India’s gross domestic product (GDP) growth for calendar year 2024 (CY24) by 10 basis points (bps) to 6.7 per cent, and expects the Reserve Bank of India (RBI) to cut interest rates in the fourth quarter of the current calendar year (Q4-CY24) / third quarter of the current…
Fitch Ratings stated on Monday that a sustained reduction in India’s fiscal deficit, especially if supported by durable revenue-raising reforms, would positively impact the country’s sovereign rating fundamentals over the medium term. The Reserve Bank of India’s (RBI) larger-than-expected surplus transfer to the government should help meet the deficit target of 5.1 percent of GDP…
Fintech company BharatPe announced on Tuesday that it has appointed its interim CEO and chief financial officer, Nalin Negi, as the full-time CEO. Negi assumed the role of interim CEO in January 2023, following the departure of then CEO Suhail Sameer. “We are pleased to endorse Nalin Negi in his new capacity and are appreciative…
In recent years, especially following the Covid-19 pandemic, the emphasis on financial inclusion has significantly increased globally. The pandemic highlighted existing disparities in access to financial services and underscored the urgent need for economic equality and opportunities for everyone, regardless of their socioeconomic status. Financial Inclusion: A Necessity Definition: Financial inclusion ensures that everyone can…
Shares of Bharti Airtel and Mahindra & Mahindra reached their new 52-week highs today. The Nifty 50 rose by 104.0 points (0.47%), while the Sensex climbed by 343.05 points (0.47%) as of 10:59:52 IST on April 22, 2024. The Bank Nifty also saw an increase of 172.85 points (0.36%) at 10:44:55 IST on the same…
Adani Group, led by Gautam Adani, increased its stakes in Adani Enterprises and Adani Green Energy in May ahead of a planned fundraising effort. Promoter entities bought 7.27 million shares of Adani Enterprises worth ₹2,162 crore and 13.9 million shares of Adani Green Energy worth ₹2,507 crore between May 10 and May 23, according to…
The Securities and Exchange Board of India (Sebi)’s rigorous measures against stockbrokers’ misuse of client funds and securities have resulted in a significant decline in compensation claims filed by defrauded investors since the peak during the Karvy scandal. In FY24, the National Stock Exchange (NSE) received 164 compensation claims, a sharp drop from 758 claims…
Total domestic passenger vehicle sales experienced a slight uptick last month, reaching 1,44,002 units compared to 1,43,708 units in the same period last year. Additionally, Maruti Suzuki India (MSI) reported a decrease in exports, with numbers falling to 17,367 units from 26,477 units in the same period last year.
Reliance Industries is set to enter the quick commerce sector next month, with JioMart planning to launch deliveries within 30 minutes, according to a May 29 report by the Times of India, citing sources familiar with the development. Initially, the service will deliver groceries in 7-8 cities, with plans to gradually expand to over 1,000…
In FY24, India’s exports of iron ore fines and lump reached a three-year peak of 36.5 million tonnes, marking a significant 145 percent year-on-year increase from around 15 million tonnes in FY23, as per data compiled by market analytics firm BigMint. Correspondingly, exports of iron ore pellets surged by nearly 80 percent year-on-year to 11.3…