The stock had fallen nearly 80 percent in the last three-month period, which was quite a big correction compared to Nifty Bank (down 46 percent), Nifty (down 34 percent) and Nifty Private Bank (down 49 percent), following concerns around asset quality and strength of funding franchise. … [Read more...] about UBS Principal Capital buys Rs 197cr worth shares of IndusInd Bank
The United States, the hardest hit by the virus, has announced a $2-trillion stimulus package. In Europe, the current epicentre of the epidemic, Germany and France announced their stimulus for €750 billion and €45 billion respectively. To protect businesses and workers, Britain has announced four packages worth 65 billion pounds in tax cuts and spending. The European Central Bank is spending €750 billion in bond purchases to provide more liquidity to member states. The European Union leaders, however, have yet to agree on a common financial response, including the so-called corona bonds — an EU-backed mechanism to raise common debt. As EU is preparing for major economic shocks (reduction in real GDP growth in 2020 by 2.5 percentage points), the organisation has promised to everything at its disposal to minimise the impact. … [Read more...] about COVID-19 | Can G-20 provide the right platform for a global response?
Overall, the Budget fell short of most expectations from the various stakeholders – companies or individual tax payers – and hasn’t provided any concrete stimulus to address the flailing economy. While fiscal constraints are understandable, in a year when the finance minister is taking a deviation from the FRBM glide path, a lot more could have been done to bring back the confidence and flows to the Indian economy. The Budget was unfortunately, a good opportunity squandered. … [Read more...] about Budget 2020: A good opportunity squandered
Usually, after a RBI policy review, the discussion is about the measures and the impact on the market and economy. While this is always true, we are going through challenging times and the desperate measure will bring succour to stakeholders: people who have taken retail loans, corporates who have taken big ticket debt, MSMEs, mutual fund investors (banks can use TLTRO money to buy bonds from MFs) and the bond market generally, which is the yardstick for pricing of credit in the entire economy. All global central banks are saying “whatever it takes.” The RBI also has walked the talk. … [Read more...] about RBI comes out all guns blazing to sanitise a struggling financial system
Call on this number and follow the instructions - 022-50042333, 022-50042211, or submit your request on the bank's website if the customer wants the three-month breather from loan EMI. To avail the credit card moratorium,(a) voluntarily defer paying the outstanding during this period, i.e., make NIL payment(b) turn off Auto Pay (in case the same is currently availed) through net banking / mobile banking to avail the benefit of the moratorium and reactivate the same post the end of moratorium period. … [Read more...] about EMI moratorium: ICICI Bank vs HDFC Bank vs Axis Bank – all you need to know