Indian corporates are increasingly gravitating back toward bank financing as the cost gap between bank loans and bond market rates narrows. Specifically, the spread between the State Bank of India’s (SBI) Marginal Cost of Funds-based Lending Rate (MCLR) and AAA-rated corporate bond yields has compressed from...
India remains confident it will meet its fiscal deficit target of 4.4% of GDP for FY26 despite introducing major consumption tax cuts. The GST overhaul announced by Prime Minister Modi—including slashed rates on essentials and electronics—is projected to reduce revenue. However, government insiders affirm that federal...
The latest ET Editorial — “GST 2.0: Great Sense (of) Timing” by MS Mani — applauds the government’s decision to launch comprehensive GST reforms right against the backdrop of tariff pressures and faltering export demand. By announcing a pivot to a streamlined, two-rate GST structure ahead...
Indian Non-Banking Financial Companies (NBFCs) have rapidly ramped up their external borrowing in 2025, raising a substantial $3.67 billion through syndicated loans—more than double the total amount borrowed in 2024. This surge reflects improving sentiment among global lenders, alongside more attractive borrowing conditions and regulatory incentives....
India’s foreign exchange (forex) reserves increased by $4.74 billion, climbing to $693.62 billion for the week ending August 8, as reported by the Reserve Bank of India (RBI). This rebound comes shortly after the steepest weekly decline of the year, signaling renewed confidence in India’s external...
The government’s newly launched FASTag Annual Pass saw spectacular adoption on its very first day—approximately 139,000 passes were sold across toll plazas nationwide. Priced at ₹3,000, the pass allows 200 toll crossings or one year’s validity, whichever comes first—offering convenience and cost savings to frequent highway...
India is poised to become a global benchmark in data quality, trailblazing standards that even developed nations could adopt, according to Chief Economic Adviser (CEA) V. Anantha Nageswaran. Emphasizing the importance of robust, reliable data, the CEA highlighted the move as a pivotal step in enhancing...
In a much-anticipated “Diwali gift” to the nation, the Indian government is poised to overhaul the Goods and Services Tax (GST) framework, reducing the current multi-slab structure to just two primary tax rates—5% and 18%, with a separate elevated rate of 40% for luxury and so-called...
India’s multi-month bull run in long-duration government bonds has hit a roadblock. Rally momentum is fading as demand from key institutional investors—such as banks, insurers, and pension funds—wanes, while fiscal concerns and reduced expectations of further interest rate cuts reinforce uncertainty. These dynamics have pushed 10-year...
The Reserve Bank of India (RBI) is set to drastically shorten cheque clearance times under a new efficiency-driven reform called Continuous Clearing and Settlement on Realisation. Starting October 4, 2025, cheques will clear within hours—down from the current timeline of up to two working days—through a...
Economists expect the Reserve Bank of India (RBI) to keep interest rates unchanged in the near term, signalling that its primary focus will be on sustaining economic growth rather than aggressively tackling inflation. This outlook follows the RBI’s latest monetary policy stance, which emphasises supporting economic...
India is bracing for the economic turbulence triggered by the U.S. doubling tariffs on Indian exports—a retaliatory measure over India’s stance on Russian oil imports. According to Fitch’s CreditSights, while the direct impact is manageable, several pivotal sectors—textiles, auto components, and banks—may face indirect strain. Economic...
As India enters a new phase of digital expansion with over a billion additional users joining the economic mainstream in the coming years, businesses must fundamentally transform. Mohamed Kande and Sanjeev Krishan argue that success now depends on rewiring business models—via AI, cloud, data analytics, localized...
Kerala State Financial Enterprises (KSFE), a state-run miscellaneous non-banking financial company (MNBC), has become the first MNBC in India to surpass a business turnover of ₹1 lakh crore. The remarkable feat was achieved by doubling its turnover from ₹50,000 crore in just four years, reflecting robust...
India’s annual retail inflation (CPI) dropped to 1.55% in July, marking its lowest level since June 2017. According to government data, this figure came in below the 2.10% recorded in June and well below economists’ expectations of 1.76%. Drivers of the Disinflation Food Price Deflation: Food...
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