Dovish MPC opts for status quo
While the Reserve Bank of India kept policy rates and its accommodative stance unchanged, additional monetary measures have been brought in to fight the second wave of Covid-19.
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India to be the third largest economy by 2031: Report
According to a BofA Securities report, the Covid-19 shock could delay India touching the GDP of Japan by three years. In their latest estimates, it will now happen by 2031 if the economy grows at 9%.
The significance of the Sensex breaching 50K
Market experts welcome the 30–stock benchmark adding 6,000 points since December 1, but also caution against stretched valuations.
India’s foreign exchange reserves at lifetime high
The big question is how much more foreign exchange will the Reserve Bank of India buy, and why?
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.
Moody’s India downgrade is not unexpected: BofA Securities
While the rating agency downgraded India’s sovereign rating, BofA Securities’ economists see the present downturn as cyclical rather than structural; say fiscal stimulus is critical for recovery.
$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.
India’s forex kitty could swell to $550 billion
Since April 2001 foreign exchange reserves grew 11.15 times to $476.09 billion in mid-February; the RBI may add $21 billion more by March 2021, according to a BofA Securities report.
