- Indian stock markets were buoyant but directionless last week, with Sensex and Nifty closing marginally higher.
- Foreign portfolio investors’ ownership of Indian sovereign bonds increased by over $10 billion, with expectations of $20 billion passive inflows by March 2025.
- RBI mandated all credit card payments to be processed through BBPS after June 30, We see how this may impact FinTech’s at large.
- Q1 FY25 GDP growth is steady, private consumption is broadening, inflation is easing but volatile, and investment growth is stable as per RBI Bulletin.
- RBI amended priority sector lending guidelines to incentivize banks to channelize more credit to underpenetrated districts.
- The new proposal by a private firm, for secondary market for life insurance policies appears better option for policy holders in place of surrender with financial loss. We see how in detail.
- IRBI proposed that resolution plans for stressed firms should not extinguish creditors' rights to proceed against loan guarantors.
- SEBI’s first-time publication of break-up of data on AIFs may help further policy changes.
- SEBI allowed redemption even if KYC status is ‘On Hold’ under specific conditions
- HSBC's PMI indicated continued expansion in India's manufacturing and services sectors.
- Fitch Ratings raised India's FY25 growth forecast to 7.2% due to elevated consumer confidence but warned of heatwave risks.
- Indian tech startups raised $4.1 billion in H1 2024, a slight increase from H2 2023 but a decrease from H1 2023.
- Seed stage funding rose slightly, early-stage funding remained stable, and late-stage funding increased slightly.
Suggest reading detailed blog ?>> https://bit.ly/Weekending22ndJune
