Page 5 - State Of Indian Economy

Sebi solved 3,180 complaints in January through its SCORES platform

A total of 3,180 complaints received through SCORES against companies or market intermediaries have been disposed of in January, as per data released by markets regulator Sebi on Friday. SCORES is a redressal grievance system that was launched by the Securities and Exchange Board of India (Sebi) in June 2011. At the beginning of January, as many as 2,915 complaints were pending and 2,877 fresh complaints were received during the month. These complaints were related to refunds, allotment, redemption and interest, among others. The regulator also noted that there were 11 complaints as of January 2023, which were pending for more than three months. These complaints were related to research analyst, investment adviser, non-demat, remat and transfer/dividend/rights/redemption. The average resolution time for a complaint is 31 days, it added. In a separate public notice, Sebi mentioned eight entities against whom complaints have been pending for more than three months on SCORES as of .

India's forex drops by $1.494 bn to reach $575.267 bn as of Feb 3: RBI data

India's foreign exchange reserves dropped by USD 1.494 billion to reach USD 575.267 billion as of February 3, snapping a three-week rising trend, RBI data showed on Friday. In the previous reporting week, the overall reserves had jumped by USD 3.03 billion to USD 576.76 billion. In October 2021, the country's forex kitty had reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments. For the week ended February 3, the foreign currency assets, a major component of the reserves, decreased by USD 1.323 billion to USD 507.695 billion, according to the Weekly Statistical Supplement released by the RBI. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. After rising for multiple weeks, gold reserves decreased by USD 246 ..

Kerala FM Balagopal seeks inputs to revitalise state's sagging economy

Ahead of the state budget to be presented on February 3, Kerala Finance Minister K.N. Balagopal has sought the people's suggestions to reinvigorate the sagging economy of the state

Waning input cost, rising investments herald upturn in capex cycle: RBI

Waning input cost pressures, buoyant corporate sales and rising investments in fixed assets are heralding the beginning of an upturn in the capex cycle in India will contribute to speed up growth momentum in the economy, said an RBI article on Tuesday. The balance of risks is increasingly tilted towards a darkening global outlook and emerging market economies (EMEs) appear to be more vulnerable, even though incoming data suggest that global inflation may have peaked, said the article titled 'State of the Economy' published in the RBI Bulletin December 2022 article. "The near-term growth outlook for the Indian economy is supported by domestic drivers as reflected in trends in high-frequency indicators," it said and added equity markets touched a string of new highs during November buoyed by strong portfolio flows to India. Headline inflation moderated by 90 basis points to 5.9 per cent in November driven by a fall in vegetable prices even as core inflation remained steady at 6 per .

RBI prods Indian civic bodies to issue municipal bonds for funding

India's local city governments must consider issuing municipal bonds to meet their funding requirements as the demand to ramp-up infrastructure in the Asia's third-largest economy grows

When everyone is slowing, India in relatively bright spot than others: IMF

When everyone is slowing down in terms of economic growth, India has not remained unimpacted, but is doing better and is in a relatively bright spot compared to other countries, a top International Monetary Fund (IMF) official said on Tuesday. Just look at the global conjuncture right now, which is the overarching problem, IMF Director of Asia and Pacific Department, Krishna Srinivasan, said, adding that the growth was "slowing across many parts of the world even as inflation is rising". "We expect countries accounting for 1/3 of the global economy to go into a recession this year or the next. And inflation is rampant. So that is the overarching story, Srinivasan told PTI in an interview. Almost every country is slowing. In that context, India is doing better and is in a relative bright spot compared to the other countries in the region, Srinivasan said. The IMF on Tuesday in its World Economic Outlook projected a growth rate of 6.8 per cent in 2022 as compared to 8.7 per cent in 2

Households hesitant to spend

Rural India's steep fall in willingness to spend on consumer durables and urban India's scepticism regarding their future well-being is worrisome

With rupee at 80, how to tackle cost of studying and travelling abroad

Education consultants advise parents to prepare for at least 2% annual increase in costs for children abroad

Gyanvapi row an attempt to divert attention from economic situation: Pawar

The resurrection of controversy surrounding Varanasi's Gyanvapi mosque was a part of efforts by the BJP to divert people's attention from the issues such as inflation and unemployment, Sharad Pawar

Indian economy is bouncing back strongly: MoS for External Affairs

The MoS said the Narendra Modi government has undertaken far-reaching structural reforms, making use of the mantra of 'Reform, Perform and Transform'

Tens of millions on the fringes sink into poverty as Covid wrecks India

The government estimates India's gross domestic product shrank 8 per cent in the year ended March, its biggest contraction since 1952

India Covid-19 crisis shows complacency, lack of leadership: Raghuram Rajan

Country should have recognised coronavirus potentially comes back in more virulent forms, says former RBI governor.

Economic recovery reduces slippage risk for Indian PSBs: Moody's

"While the government's capital infusion into public sector banks will help them meet Basel capital requirements, it will not boost credit growth," the agency said

India GDP recovering better than expected; to contract 7.4% in FY21: SBI

The report also says that it would take seven quarters from the fourth quarter of FY21 for GDP to reach the pre-pandemic level in nominal terms

Credit growth will move to normal level in next financial year: SBI Chief

The economy is expected to be on normal course in early next financial year, says Dinesh Khara

India's October unemployment rate climbs up to 6.98%, CMIE data shows

India's unemployment rate in October rose to 6.98% from 6.67% in September, according to data released by the Centre for Monitoring Indian Economy

GST collections cross Rs 1 trillion in October for first time in 8 months

GST collections in October stood at over Rs 1.05 trillion, crossing for the first time Rs 1 trillion mark since February this year, the finance ministry said

Top Headlines: Losses rise as India locks down; businesses seek stimulus

Business Standard brings to you the top headlines of the day

Deepening economic stress

Latest data suggests no respite from bad news

Corporate tax cut a consolation for benchmarks in volatile year

Sensex gained 12% while Nifty ended up 10% despite challenges such as the trade war andtrade war and economic slowdown