With a 3-pronged approach which covers India’s economic scenario, it’s financial performance and banking as well as NBFC sector, The Brief’s financial section is all about curated expert opinions and analysis on how India performs on the global economic front and how public policy influences it to create market entry opportunities for foreign entrants.
In a paper published in April 2019, researchers at the Reserve Bank of India (RBI) found that more of Indian banking sector consolidation in the country’s struggling banking sector will help lenders lower costs and efficiently scale their operations. The same paper finds that India had 19 cost-efficient banks in 2005, falling to a low of 12 before recovering to 14 by the end of 2018. While banking…
In a dull market, heads are rolling at Deutsche Bank’s India-related business after its global restructuring announcement. Earlier this month, Deutsche Bank, which is the world’s largest German lender, announced that they would shut down their global equities business and reduce their fixed income operations. This will impact as many as 18,000 jobs globally, helping the bank save US$8.3 billion…
While the stock market voted down the budget, there were some announcements in that budget speech that will open up new frontiers for India’s burgeoning economy. Let us look at some of them and how they are likely to usher a few sunrise sectors that will not just create jobs but also help double the size of the economy – from the current US$2.61 trillion to US$5 trillion by 2024-25.
Last week, India’s first female finance minister in almost five decades, Nirmala Sitharaman presented the 2019 Union Budget after the BJP-led NDA Government won the elections with a thumping majority in May, this year. The budget did not have much of good news for investors, companies and stock markets – on the contrary, few of the budget proposals, spooked the stock market, leading to the S&P BSE Sensex posting its worst single day fall of 2019, plummeting by 908 points to touch an intraday low of 38,605.
The announcements made in Union Budget 2019 came as a welcome sign for consumers and manufacturers of electric vehicles, alike. The electric vehicle industry in India has unanimously welcomed the government’s proposed tax benefits for electric vehicles, with expectations of a major boost in the coming years. In addition to lowering the GST rates on electric vehicles from 12% to 5%, the government has also announced exemptions on customs duty on lithium-ion cells.