Top headlines: India Inc's overseas fundraising, Vistara-AI merger talks

From Vistara-Air India merger discussions to India Inc's fundraising, here are the top headlines on Friday morning

India Inc's fundraising from overseas sinks to 76-qtr low in Q2: Data

Foreign currency loans raised by Indian companies nosedived to $210 million in the September quarter (Q2), 93.3 per cent less than the year-ago period when five firms raised $3.1 billion. The Q2 amount is the lowest since December 2003 quarter when India Inc raised $191 million. Read more

Singapore Airlines confirms Vistara-Air India merger discussions

Singapore Airlines (SIA) is engaged in confidential talks with Tata Sons for merging Vistara with Air India, the flagship carrier of the Republic of Singapore informed the stock exchange in the Southeast Asian nation on Thursday in a first acknowledgement of a possible integration of the two airlines. Read more

India to become world's third-largest economy by FY28, says IMF

India failed to unseat the UK and missed being the fifth-largest economy by $10 billion in 2021-22. It’ll have to wait another year before it gets that coveted spot in 2022-23, overtaking the UK by $27 billion. Read more

Attrition to continue to spike even as IT biggies reduce hiring: Experts

It will take another few quarters for the pace of employees voluntarily leaving companies in the information technology (IT) sector to come down meaningfully. Human resource (HR) and industry experts point out that the demand for skilled talent remains high — not only from services players but from multinational corporations (MNCs) as well, keeping attrition levels above 20 per cent for 2022-23 (FY23). Read more 

As MPC fails on CPI mandate, RBI's growth-inflation balance gets trickier

On Wednesday, government data showed that India’s consumer price index-based inflation was at 7.41 per cent in September 2022. The data officially marks the failure of the Reserve Bank of India’s (RBI) Monetary Policy Committee to keep inflation within the mandated target range — for the first time since the six-member panel started to decide policy repo rate in October 2016. Read more

RBI norms on unhedged Fx exposure unlikely to impact banks much

The Reserve Bank of India’s (RBI’s) directions over banks’ treatment of unhedged foreign currency exposure have increased regulatory requirements for lenders at a time when the rupee has weakened sharply against the US dollar. Read more