A man checks his mobile phones in front of SBI branch in Kolkata, India. Reuters
Reserve Bank of India (RBI) Governor Shaktikanta Das has said the gross fiscal deficit has adhered to budgetary targets, and that the current account deficit is expected to be around 2.5 per cent of the GDP in 2018-19. Das said this earlier this week while speaking at the “Governor Talks”
Further monetary policy easing is expected as the economy struggles with a demand downturn, liquidity constraint and a high finance cost, sources said on Friday. It is learnt that Reserve Bank of India would stick with its stance and further lower the repo rate, which will in turn reinvigorate consumer
State-run United Bank of India (UBI) on Monday said it has posted a net profit of Rs95.18 crore in the fourth quarter of the financial year 2018-19 (FY19), after seven quarters of consecutive losses. The lender had reported a net loss of Rs260.62 crore in the March quarter of the fiscal year 2017-18 (FY18).
Housing finance major HDFC Limited has partnered with the India Mortgage Guarantee Corporation (IMGC) to offer a mortgage-guaranteed home loan product. The partnership aims to make it possible for HDFC to further penetrate the home loan market and access an enlarged customer base, helping them to own a home of their choice, HDFC said.
Many countries clearly seem to be in a mood to ease lockdowns, but extreme care should be taken to see to it that this process remains gradual as the pandemic still lurks all around with its deadly intentions.
As sections of the global economy tip-toe toward reopening, it’s becoming clearer that a full recovery from the worst slump since the 1930s will be impossible until a vaccine or treatment is found for the deadly coronavirus.
By imposing a hugely controversial and sweeping national security law for Hong Kong, China has just struck a deathblow to the city’s autonomy and liberties. Clearly, the new law will kill future democratic movements.