Financial Sector

There was time to put together plan for Yes Bank, had given 'enough' notice about its problems: Raghuram Rajan

To a question related to RBI's policy rate, Rajan said no amount of interest rate cut is going to help if credit growth is weak

Coronavirus may impact India's March quarter GDP growth by 0.20% after epidemic hits imports from China for crucial sectors: Report

The brokerage cut its fiscal 2020-21 real GDP growth estimate marginally to 5.6% as against the previous estimate of 5.7%, but added that there will be a recovery in the next financial year.

Financial sector firms pitch for tax break, GST reduction at pre-Budget meeting with Nirmala Sitharaman

Financial sector players on Monday demanded reduction of GST on term insurance for increasing its penetration and streamlining KYC norms to expand financial inclusion

Indian economy likely to rebound in 2020 on measures taken by govt, RBI: CII

CII believes that with the sharp moderation in growth, the time has come to adopt an expansionary fiscal policy

Risk of contagion in Indian financial sector rising; failure of any large finance firm will adversely impact economic growth: S&P

The Indian financial sector is facing the rising risk of contagion and failure of any large finance company will adversely impact economic growth, S&P Global Ratings said in a report on Wednesday

India has worked on fundamentals, but problems needs to be addressed; projecting strong growth for country: IMF

The IMF on Tuesday trimmed India's growth forecast by 90 basic points to 6.1%.

Economic slowdown: NITI Aayog for extraordinary steps to deal with unprecedent stress in financial sector in last 70 years

Explaining how stress in the financial sector has led to a slowdown in the economy, the NITI Aayog vice-chairman said the entire episode started with indiscriminate lending during 2009-14 leading rise in non-performing assets (NPAs) post-2014.

Fintech startup deals in India surpass China, dealmaking expected to continue at strong pace in India

China had marginally higher investments at $375 million during the period, compared to the $350 million in India.

Proposed Rs 70,000-cr capital infusion into public sector banks credit positive, to boost economy: S&P

The capital infusion will help some banks to come out of the central bank's prompt corrective action (PCA) and resume lending and clean up their balance sheets, she added.

RBI monetary policy: Changes in rates may not spur investment; govt needs to ascertain causes of stagnation

Further, fuel inflation has been increasing and the assumption made by the RBI here is that oil prices are unlikely to increase in the next couple of months.