Banking industry
Consumer price inflation in India jumped to 6.5% in January 2023, marking a significant increase from the 5.7% recorded in December 2022. According to the Ministry of Statistics and Programme Implementation, this uptick in inflation will likely lead the Reserve Bank of India (RBI) to maintain a hawkish
Banking industry
India's retail inflation has been an unexpected upsurge, rising to 6.5% in January. This unexpected increase has cast doubts on the Reserve Bank of India's (RBI) decision to halt interest rate hikes due to inflation concerns. The February MPC meeting will have access to January&
Banking industry
The Reserve Bank of India's Monetary Policy Committee raised the repo rate by 25 bps to 6.5% on Wednesday, emphasizing the need for further policy action to keep inflation expectations anchored. This move drew comparisons with the US Federal Reserve, Bank of England, and other global central
Banking industry
The Monetary Policy Committee of the Reserve Bank of India decided to increase the policy repo rate by 25 basis points to 6.50%, citing global economic uncertainties and sticky core inflation. This decision is seen as a cautious approach to keep inflation under control while allowing the economy to
Banking industry
Finance Minister Nirmala Sitharaman has expressed confidence that India's banking system and financial markets are sound and well regulated, despite the controversy surrounding the Adani Group. Sitharaman's remarks come as Adani Group companies' shares have declined significantly over the past seven sessions following an adverse
Banking industry
The Indian stock market concluded Thursday's volatile session on a mixed note, with the BSE Sensex closing in green above 59,900 while the NSE Nifty 50 ended in red below 17,650. The top gainers were ITC, IndusInd Bank, Hindustan Unilever Ltd, Infosys, and Wipro, while the
Banking industry
A group of investors is urging six Wall Street banks to step up their efforts to reduce financing of fossil fuels, citing concerns about meeting global climate goals. The banks, including JPMorgan Chase, Citigroup, and Bank of America, are being asked to phase out funding for oil and gas exploration
Banking industry
MedTherapy Biotechnology, a privately held CAR-T cell cancer gene therapy biotechnology company, has announced that its technology could potentially reduce the time and cost to manufacture CAR-T cell cancer gene therapy to a fraction, approximately by seventy percent. The company's clinical development plan and strategies are being presented
Banking industry
Wealthy Indians, some of whom are involved in the diamond industry, have been summoned by the tax office to explain why their names are linked to life insurance policies worth millions of dollars. The tax authority has received information about these policies from foreign insurance companies and is investigating whether
Banking industry
Indian equity benchmarks ended higher by around a percent on Tuesday, led by heavy buying in index majors Larsen & Toubro, Hindustan Unilever, and HDFC. The Reserve Bank of India's (RBI) report stating that states' gross fiscal deficit (GFD) is budgeted to decline from 4.1 per
Banking industry
The stock market rally maintained its upward momentum Thursday, with the S&P 500 index climbing 0.3% and the Dow Jones Industrial Average advancing 0.6%. However, investors should remain cautious as the rally has made huge strides over the past five sessions, and a pause or pullback
Banking industry
The stock market witnessed a surge on Thursday, with the Nasdaq extending its win streak to five sessions, driven by a robust December consumer price index (CPI) report and upcoming fourth-quarter earnings season. Key TAKEAWAYS: * The December CPI report showed a 0.1% decline in the CPI, beating expectations of
