Economy

SLS Trust formed to support NBFCs-HFCs The SBI Capital Markets Limited (SBICAP) has set up a Special Purpose Vehicle in the form of SLS Trust on 1 July 2020 to handle Rs.30,000 crore Special Liquidity Scheme to improve the liquidity...

Expect NPAs to a fresh high The COVID-19 pandemic may set back the recovery of India's banking sector by years, which could hit credit flows and, ultimately, the economy. S&P Global Ratings expects non-performing loans in India will hit a...

Finance companies’ credit risk remains high S&P Global Ratings said economic conditions have turned adverse for Indian banks due to COVID-19 as the drastic efforts to curtail the spread of the coronavirus have resulted in a sharp economic contraction. The...

Corporate earnings to recover in 12-18 months Companies in India face further potential rating downside, despite several negative rating actions over the past three months, S&P Global Ratings has cautioned. About 35% of credit ratings on Indian corporates have either...

CII-IBF leads SG$159,000 donation for migrant workers A CII-IBF survey in April revealed that the Indian Companies here remain resolute and confident in Singapore and appreciate the Government’s proactive steps taken on the economic side. The companies, led by heavyweights...

Prioritise online single window system With more outcome-oriented action on Ease of Doing Business (EODB), huge momentum to India’s domestic and overseas investment can be imparted at a time when self-reliance is being strengthened. Stating this on 20 June 2020,...

Expect fiscal constraints among states The Indian Corporate sector, beaten by economic slowed down, would need to focus on managing liquidity, cutting costs and improving digital infrastructure, wherever possible, said Shamsher Dewan, ICRA’s Vice President - Corporate Sector Ratings. “Going...

India joins the club of progressive economies India has taken a first step towards the free-market pricing for natural gas with the launch of the Indian Gas Exchange (IGX) in an e-ceremony on 15 June 2020. Speaking at the commencement...

Low oil prices to benefit India India's economy will strongly recover following the deep contraction in this fiscal year, said S&P Global Ratings which forecasts real GDP growth at 8.5% in fiscal 2022. But for fiscal 2021, ending 31 March...

Fintech can solve financial needs India Needs Low Cost, High Volume Products, Interoperability of Accounts and Flow-based Lending to Give a Push to Financial Integration: Shri India needs a low cost, high volume products with interoperability of accounts and flow-based...