INSUBCONTINENT EXCLUSIVE:
This report was compiled from agency feeds.
RBI, govt signal truce after 10-hour meetThe RBI board, which met for a marathon 10 hours on
Monday, agreed to restructure small-scale loans with aggregate credit facilities of up to Rs 25 crore and set up a committee to discuss the
controversial issue of transfer of surplus reserves to the government
The board also decided to consider relaxation of lending norms for banks under the Prompt Corrective Action regime, a key demand of the
While there was no special window for NBFCs, the implementation of the capital adequacy norms have been liberalised
CRR for banks remained at 9% but the deadline for maintaining capital conservation buffer was extended to March 2020.
RBI to Inject Rs
8,000-cr liquidity on Nov 22 via OMOThe Reserve Bank said Monday it will inject Rs 8,000 crore into the system through purchase of
government securities on November 22
The open market operation (OMO) will help ease tight liquidity situation triggered by series of default by group companies of ILFS
As part of the OMOs, the RBI will purchase government securities maturing in 2021 bearing interest rate of 7.80%, 2024 (8.40%), 2026
(8.33%), 2028 (8.60%) and 2032 (8.28%)
US recession chances edge upThe Federal Reserve is still expected to raise interest rates again next month and three times next year, but a
majority of economists polled by Reuters over the past week say the risk is it will slow that pace down
The probability of a US recession in the next two years, while still low, also nudged up to a median 35% from 30% in the latest monthly
Reuters survey of economists taken Nov 13-19
It held at 15% for the next 12 months
pressured by cautious comments about the US economy from Federal Reserve officials suggesting the central bank may be nearing the end of its
Against a basket of six major currencies .DXY, the greenback fell to 96.120, its lowest since Nov
8, after falling nearly half a percent last week, its biggest weekly drop since late September.
Oil prices stableOil prices were stable on
Tuesday on expectations that producer club OPEC will soon cut supply to prevent oversupply amid slowing demand growth and a surge in output
US West Texas Intermediate (WTI) crude futures CLc1, were at $57.21 per barrel at 0117 GMT, 1 cent above their last settlement
Front-month Brent crude oil futures LCOc1 were at $66.75 a barrel, down 4 cents from their last close.
GST blow for back officesSeveral MNC
back offices now face 18% Goods and Services Tax (GST) liabilities after the Authority of Advance Ruling (AAR) said they are merely
Even Indian companies providing offshore support services to multinationals are liable to pay the 18% GST levy on their revenues and would
not be treated as exports and hence taxable in India
legal.
Safety audit of all domestic airlines orderedCivil aviation minister Suresh Prabhu has ordered a safety audit of all domestic
airlines, including struggling carrier Jet Airways Ltd, news channel CNBC-TV18 reported on Monday
The aviation safety watchdog, Directorate General of Civil Aviation, has been asked to conduct the audit, the channel cited federal minister
Jet Airways is cutting costs and seeking funds to stay afloat
Investor premium in startups under lensThe ministry of corporate affairs (MCA) became the latest government department after the income tax
to question the premium paid by investors in startups after issuing notices to more than 2,000 startups that have raised money since 2013
The ministry has questioned the valuations at which these startups raised money and is focusing on companies whose valuations have fallen
after the first round of fundraising
POLICIES MOREThe government Monday virtually ruled out possibility of bailout package for cash-strapped Jet Airways, with Civil Aviation
Minister Suresh Prabhu saying that a private airline's management has to make sure that the carrier functions properly
The Supreme Court upheld the National Company Law Appellate Tribunal (NCLAT) ruling that allowed UltraTech to take over ailing Binani
Cement, rejecting a plea by a Dalmia Bharat unit and marking the end of a longdrawn battle.Nissan Motor Co Chairman Carlos Ghosn was
arrested on Monday for alleged financial misconduct and will be fired from the board this week, a dramatic fall for a leader hailed for
rescuing the Japanese carmaker from close to bankruptcy.TOP VIDEOLooking to build a portfolio Annual report can tell you a lotTOP QUOTEWhy
Mark Matthews of Julius Baer is underweight India right nowFUNDAMENTALSRupee up: The rupee on Monday rose by 26 paise to close at a 10-week
high of 71.67 against the US currency, extending its winning streak for the fifth straight day
10-yr bond yields down: India 10-year bonds' yields fell 0.02% to 7.89% on Monday, November 19, from 7.81% in the previous trading session,
reports Bloomberg.
Call rates: The overnight call money rate weighted average was 6.17% on Friday, according to RBI data
It moved in a range of 4.60-6.60%.
