A task force set up by India's central bank on Tuesday recommended a slew of measures for developing a secondary market for corporate loans, including easing of regulations to allow foreign portfolio investors (FPIs) to directly purchase distressed loans from banks.
A task force set up by India's central bank on Tuesday recommended a slew of measures for developing a secondary market for corporate loans, including easing of regulations to allow foreign portfolio investors (FPIs) to directly purchase distressed loans from banks.RBI recommends developing a secondary market for corporate loans
Sales data from India’s top six car makers, including Suzuki Motor Corp’s and Toyota Motor Corp’s Indian businesses, shows that passenger vehicle sales for August fell 34% compared with the same period a year ago. These six manufacturers make up more than 90% share of the market. (Reuters)
India's gold imports in August plunged 73% from a year ago to the lowest level in three years as a rally in local prices to a record high and a hike in import duty curtailed retail purchases of the precious metal, a government source said on Wednesday.
Lower imports by the world's second biggest consumer could cap gains in global prices that are trading near their highest level in over six years, but help the south Asian country in bringing down the trade deficit and supporting rupee.India's gold imports hit lowest level in 3 years on high domestic prices, import duty
Shares of Cox & Kings, which defaulted on some of its borrowings earlier this year, have fallen 98% over the last 12 months to give it a market value of about $10.4 million from $0.7bn. #MOMarketUpdates— Motilal Oswal Financial Services Ltd (@MotilalOswalLtd) September 4, 2019
President Donald Trump on Tuesday warned China over delaying trade talks.
"We are doing very well in our negotiations with China. While I am sure they would love to be dealing with a new administration so they could continue their practice of 'ripoff USA' (USD 600 B/year), 16 months plus is a long time to be hemorrhaging jobs and companies on a long-shot...., Trump said in a tweet Tuesday.
The rupee rebounded 19 paise to 72.20 against the US dollar in early trade on Wednesday, amid weakening of the American currency in overseas market.
The rupee on Tuesday had dropped sharply by 97 paise to more than nine-month low of 72.39 against the US dollar as heavy sell-off in the domestic equity market, weak macro environment and a stronger greenback kept investors edgy.
At the interbank foreign exchange on Wednesday, the rupee opened at 72.20, registering a rise of 19 paise over its previous close of 72.39. The domestic unit was later trading at 72.185 against the dollar at 1120 hrs.
The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.08 per cent to 98.92.
Rupee vs dollar: Rupee rebounds 19 paise to 72.18 against US dollar
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