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
How are markets changing
Want some more? Measures were to come not just for the “market” or “big boys”, but for everybody. All commercial banks, co-operative banks, all-India Financial Institutions, and NBFCs (including housing finance companies and micro-finance institutions) (“lending institutions”) are being permitted to allow a moratorium of three months on payment of instalments in respect of all term loans outstanding as on March 1, 2020. Accordingly, the repayment schedule and all subsequent due dates, as also the tenor for such loans, may be shifted across the board by three months. That is, people facing hardship in the current situation may be granted a holiday of three months. This will not be treated as change in terms and conditions of loan agreements due to financial difficulty of the borrowers and, consequently, will not result in asset classification downgrade. … [Read more...] about RBI comes out all guns blazing to sanitise a struggling financial system
“Indian equities are significantly up today following positive cues from global markets, consecutive days of decline in intensity of COVID-19 cases and reports from banking sector on healthy growth in advances as well as comfortable deposit position,” Amar Ambani, Senior President and Head of Research, YES Securities, told Moneycontrol. … [Read more...] about Taking Stock: Biggest single-day gain, Sensex back above 30K; what should investors do?
Fink said central banks were moving quickly to address problems in credit markets and governments were acting aggressively to enact a fiscal stimulus. The fact that the markets have continued to fall despite these measures suggested that it was a crisis of confidence and not a financial crisis, the 67-year-old said. … [Read more...] about Economy will recover, take a deep breath and have a long-term perspective, says Larry Fink
As we fight this virus by sheltering in our homes, no one would disagree that having internet access in their home is as essential to their family’s well-being as water and electricity. COVID-19 has laid bare the societal and economic fallout from allowing market failures to go unchallenged, and for sitting idly while those same market leaders use their political power to keep others from filling the void. The virus has also shown the fundamental role that internet accessibility plays in giving every child a chance at a quality education, in addressing our widening racial inequities, and ultimately, in closing our nation’s gaps in income and wealth. This is one problem we know we can fix—and we know how. … [Read more...] about Our lack of will to expand broadband access has left millions of students disconnected during closures