India’s private sector economy hit a nine-month low in September due to slower manufacturing and services activity, despite a rise in employment and improved business confidence. The headline flash composite PMI fell to 59.3 from 60.7 in August, with both sectors showing similar trends. Slower manufacturing and services business activity in September pulled down India’s […]
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China’s Central Bank slashed the interest rate on its one-year policy loans by the most on record, beginning a sweeping program aimed at reviving confidence in the world’s second-largest economy, according to a report by Bloomberg. The People’s Bank of China cut the rate of the medium-term lending facility to 2% from 2.3%, according to […]
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Balance-level delinquencies in credit card segment stood at 1.8% in Q1FY25 – highest among all other credit divisions. Balance-level delinquencies in the credit card segment saw a 17 basis points (bps) year-on-year (Y-o-Y) rise in the quarter ending June 2024 (Q1FY25). In all other credit segments, including personal loans, delinquencies declined even as retail credit […]
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The report, which tracks digital loans for the June quarter, highlights disbursement trends from 33 FACE members. Loans disbursed by digital lenders have risen by 27% to Rs 37,676 crores, according to a report released by the Fintech Association for Consumer Empowerment (FACE), an RBI-recognized Self-Regulatory Organization in the Fintech sector (SRO-FT). However, this represents […]
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It may be recalled India’s Ease of Doing Business ranking had improved from 143 in 63 in 2014 to 2020. INDIA IS THE world’s fifth largest manufacturing power house producing nearly $560 billion worth of goods per year but our share in global manufacturing output is below 39% And the share of manufacturing in India’s […]
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Banks are urging changes to insolvency regulations to prevent promoters from manipulating their companies’ size to qualify as MSMEs and retain control during bankruptcy proceedings. This move aims to address concerns about delinquent borrowers exploiting the system by downsizing assets and staff to benefit from special provisions for MSMEs. Banks will push for a change […]
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The hot-rolled coil prices dipped to their lowest in the last four years to ₹47,100 per ton this month. Indian steel makers have dropped steel prices to protect their market share against rising imports. The hot-rolled coil prices dipped to their lowest in the last four years to ₹47,100 per ton this month after falling 5% compared […]
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India marked 10 years of Prime Minister Narendra Modi’s ‘Make in India’ initiative, which has revitalized the industrial sector, attracted investments, and created jobs. Key reforms like GST and the Bankruptcy Code have improved ease of doing business. The initiative has also led to significant infrastructure development and increased global competitiveness. On September 25, the […]
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Axis Bank, the country’s third-largest private lender, was hit with a Rs 1.9 crores (US$229,000) penalty from the Reserve Bank of India (RBI) earlier in September for regulatory non-compliance. But that didn’t come as a surprise to the employees of the 31-year-old bank. The irregularities at Axis Bank involved employees opening savings accounts for ineligible […]
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Planning to study or work in Europe? The good news is, obtaining a Schengen Visa has become more accessible for Indian citizens! Discover the countries with the highest approval rates and MEV issuance. Start your European adventure today! With globalization on the rise, more Indian citizens are seeking work, study, and travel opportunities abroad. As […]
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