lipped from: https://indianexpress.com/article/opinion/editorials/first-price-stability-8025557/ MPC members are yet to elaborate on what their expectations of the terminal rate is, considering the long lags, the committee must front-load
Day: July 13, 2022
*RBI may hike interest rate by 25-35bps in Aug meeting; Inflation likely to cool off on easing commodity prices | The Financial Express
Clipped from: https://www.financialexpress.com/economy/rbi-may-hike-interest-rate-by-25-35bps-in-aug-meeting-inflation-likely-to-cool-off-on-easing-commodity-prices/2592537/?ref=Must_Read The MPC has already raised the repo rate by 90bps to 4.90% and is scheduled to meet Aug 2-4. On the basis of
*Phensedyl: When medicine becomes malady: smuggling of cough syrup Phensedyl rampant, even fakes join the fray – The Economic Times
Clipped from: https://economictimes.indiatimes.com/prime/pharma-and-healthcare/when-medicine-becomes-malady-smuggling-of-cough-syrup-phensedyl-rampant-even-fakes-join-the-fray/primearticleshow/92836381.cms SynopsisOver the decades, smuggling of the popular medicine near the Bangladesh and Myanmar borders has acquired monstrous proportions. Manufacturer Abbott and law-enforcement agencies
*IndusInd Bank: ED investigating case on remittance transactions during 2011-14 – The Hindu BusinessLineq
Clipped from: https://www.thehindubusinessline.com/money-and-banking/indusind-bank-ed-investigating-caseon-remittance-transactions-during-2011-14/article65634880.ece Filed STRs, police complaints; have no credit exposure to entities, says bank Private sector lender IndusInd Bank on Wednesday said the Directorate of
*Google bans these four malicious apps. Delete them or risk your money – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/info-tech/google-bans-these-four-malicious-apps-delete-them-or-risk-your-money/article65635264.ece Google takes down malicious apps over security concern Google, world’s largest search engine technology, has taken down four application from its Play Store.
CAD as percentage of GDP: Nowhere near 2012-13 level, yet worrisome | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/cad-as-percentage-of-gdp-nowhere-near-2012-13-level-yet-worrisome-122071300822_1.html If up to $50 billion is withdrawn from forex reserves to finance CAD, the country would still be able to meet nine month’s
Wall Street falls after red-hot inflation data; Nasdaq down 1.5% | Business Standard News
Clipped from: https://www.business-standard.com/article/international/wall-st-opens-sharply-lower-after-red-hot-inflation-data-nasdaq-down-1-8-122071301238_1.html US inflation accelerated in June by more than forecast, underscoring relentless price pressures that keep the Federal Reserve on track for another big
MF industry AUM hit 11-month low, stocks of 4 firms underperform | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/mf-industry-aum-hit-11-month-low-at-rs-35-64-trn-122071301206_1.html The mutual fund industry – which makes money managing assets – has seen zero growth in 11 months. Photo: Shutterstock The assets managed
ED probing some entities, employees over irregularities, says IndusInd Bank | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/ed-probing-some-entities-employees-over-irregularities-says-indusind-bank-122071301036_1.html IndusInd Bank says it has no credit exposure to the entities being investigated The FIR, dated July 9, was filed with the Chennai
Windfall tax review more likely now after fall in global crude prices | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/windfall-tax-review-more-likely-now-after-fall-in-global-crude-prices-122071300560_1.html Post windfall tax, the realised spread on diesel and gasoline has fallen to near loss-making levels while the realisation on aviation fuel and
Google to slow hiring for the rest of the year as recession looms | Business Standard News
Clipped from: https://www.business-standard.com/article/international/here-s-alphabet-ceo-sundar-pichai-s-memo-on-google-s-hiring-slowdown-122071300289_1.html Sundar Pichai said the company will focus on hiring “engineering, technical and other critical roles,” in 2022 and 2023 Alphabet CEO Sundar Pichai
How the RBI is creating conditions for foreign flows to come back to India | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/how-the-rbi-is-creating-conditions-for-foreign-flows-to-come-back-to-india-122071300776_1.html The RBI announced five measures on July 6 to further liberalise foreign exchange. The measures are aimed at creating a more enabling environment
*****Industry hopes Govt retains export sops on rupee-settled deals – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/industry-hopes-govt-retains-export-sops-on-rupee-settled-deals/article65631262.ece Calls to cut down huge price difference between the buy and sell quote on the rupee The industry trade with countries facing sanctions
*PSBs set to go live on account aggregator platform soon – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/psbs-set-to-go-live-on-account-aggregator-platform-soon/article65630474.ece SBI, Canara Bank, Punjab National Bank, and Indian Bank have started their implementation The account aggregator ecosystem is set to get a major
Need to link small and large businesses – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/need-to-link-small-and-large-businesses/article65632474.ece By supplying large firms with ‘intermediate products’, small units play a key role in manufacturing sector’s growth The share of the manufacturing sector
*******ITAT okays adding betting earnings to business income – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/sports/itat-okays-adding-betting-earnings-to-business-income/article65630430.ece Rules estimate of income from betting as ‘fair and reasonable’ Betting is illegal but there is nothing wrong in adding the earnings from
*GST: Consensus eludes GoM on online gaming, casino & horse racing – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/consensus-eludes-gom-on-online-gaming-casino-horse-racing/article65631887.ece Group of Ministers aims to submit final report before Aug 10 A Group of Ministers (GoM) on online gaming, casinos and horse-racing, in
*With RBI allowing trade settlement in Re, India, Russia can set up banking structure – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/economy/rbi-framework-in-place-india-russia-to-speed-up-banking-arrangement-for-rupee-denominated-trade/article65631845.ece Discussion on a payment system to circumvent Western sanctions against Russian banks was initiated during Russian Foreign Minister’s visit in April, say sources
*****Major PSU banks to go live on account aggregator system by July-end | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/major-psu-banks-to-go-live-on-account-aggregator-system-by-july-end-122071200973_1.html SBI and BoB are expected to go live by the deadline; PNB and Union Bank of India are already live on the ecosystem
*******Asian countries in talks for settling trade in domestic currencies | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/asian-countries-in-talks-for-settling-trade-in-domestic-currencies-122071201015_1.html Countries to accept trading partners’ currency; move aimed at reducing dollar dependence Commodities such as crude oil are denominated in the US dollar,