Hidden fees of money transfer shot up in pandemic; Indians paid a bomb
Indians paid more than ₹26,300 crore in foreign exchange fees in 2020 — ₹9,700 crore as exchange rate markups on currency conversions, payments and card purchases, while travelling abroad.
RBI managing economic challenges well: report
While gloom prevails across economies, a State Bank of India report says that the Reserve Bank of India has been relatively successful in ensuring financial stability in the market since May.
The economics of the govt’s stimulus indecision
The delay in stimulus announcement is disappointing and raises the probability that a stimulus, if any, might be weaker than expected, says Jefferies India.
RBI MEASURES IMPRESS MARKETS
Round II of RBI’s Covid-19 crisis measures was received by the Sensex and the Nifty 50 gaining 1,116 and 331 points each before closing 986 and 273 points higher from the previous day’s close.
RBI’s masked growth and inflation forecasts
The central bank has been quiet on its regular growth and inflation forecasts, citing the highly fluid circumstances, but it has given ample hints in its latest Monetary Policy report.
Markets accord red welcome to FY21
Day 1 of the new fiscal saw benchmark indices in the red all through the day; they closed 4% lower.
$27.3-bn of maturing corporate debt in FY21 not a concern: BofA Securities
The amount is just 0.8% and 5.8% of India’s GDP and foreign exchange reserves, respectively. And the maturity profile is reasonably spread out in FY21.
Monday blues for equity markets
While broader indices Sensex and Nifty 50 fell over 701 and 214 points respectively in intraday trade, S&P BSE MidCap and SmallCap fell 2.15% and 2.59% to record new 52-week lows.
When there’s a fire, manage the leakages
The bank should announce a specific inflation target and then raise and lower interest rates as necessary to keep inflation near the target level.
High crude oil price + weak rupee = Wider CAD
While hoping for no rate action from RBI, Ind-Ra expects a macroeconomic hotchpotch if these factors sustain beyond a quarter.