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Demand for higher yield trips another bond sale
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The benchmark yielded 6.14 percent Thursday versus 6.03 percent a day earlier. The central bank was aiming to borrow Rs 31,000 crore through a primary auction against which it ended up raising a little more than Rs 6,000 crore.
The benchmark yield surged 11 basis points Thursday, mimicking the recent hardening of rates in the US.
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MUMBAI: The Reserve Bank of India (RBI) could not find takers for about Rs 25,000 crore of government bonds at reasonable rates as bidders demanded higher yields, pointing to the challenges North Block’s principal money manager faces in preventing a spiral in debt costs.
India promises to deliver better returns, experts say
Companies across India have become more efficient and profitable and that this trend will continue. Reuters
Removal of double taxation for NRIs on income accrued through foreign retirement benefits accounts will have immediate positive implications.
Investors looking for a reliable and promising centre of business excellence should turn their eyes towards India, which is set to log in a remarkable recovery from the Covid-19 pandemic and provide fertile grounds for future businesses.
Experts, at an event on Thursday, hailed the positive implications of the recent Indian budget, and shared their thoughts on how it will aid the country’s recovery. The event was presented by the Institute of Chartered Accountants of India Abu Dhabi Chapter, in association with the India Business & Professional Group (IBPG).
Ronojoy Mazumdar, Bloomberg News Elevators travel next to electronic boards displaying stock figures at the National Stock Exchange of India Ltd. (NSE) building in Mumbai, India, on Friday, Dec. 16, 2016. The NSE plans to file a draft prospectus this month for an initial public offering of about 100 billion rupees ($1.5 billion), pushing ahead with the nation s biggest listing in more than six years after its top executive resigned, people with knowledge of the matter said. Photographer: Dhiraj Singh/Bloomberg , Bloomberg
(Bloomberg) India stocks fell, with the S&P BSE Sensex retreating for a second day after failing to breach the 50,000 mark earlier this week.
Investor aversion and strained government finances could complicate the capital plans for some Indian banks, particularly state-owned ones, after the central bank s latest stress tests indicate that some lenders capital could fall below minimum regulatory requirements this year in the aftermath of the coronavirus pandemic. As forbearance measures to help businesses and individuals survive the pandemic end on March 31, analysts expect nonperforming assets to spike later this year. The Reserve Bank of India, or RBI, reiterated that, overall, banks have sufficient capital even in the severe stress scenario. The outcome of the stress tests are not its forecasts, but conservative assessments under hypothetical conditions, according to the RBI s