Summary in 2 min quick read below
- Markets cheered with highest weekly gains bereft of new announcements in interim budget while bond markets softened more than 10 bps with fiscal rectitude in display.
- Lower borrowings and fiscal consolidation not only help lower interest costs but reduce crowding out of bond markets by Govt. Banks to witness not only higher treasury gains through softening of yields but higher credit growth for private investments.
- Extension of tax sops to Startups and Sovereign funds, complimented by 50-year interest free loan are likely to spur innovation, research ?and investment in infrastructure.? Capex announcements in infra, roof tops and wind energy are likely to bolster logistics and sustainable development space, key focus sectors of the Fund.
- SEBI cannot be blamed for suspending operations of Growpital masquerading collective investment scheme through LLP structure. SEBI’s new consultation paper on nomination framework is aimed at reducing unclaimed deposits.
- RBI action suspending operations of PayTM Payments Bank, appears to be backed by instances of serious violations including KYC, data breach and PMLA. Some accounts were linked to a single PAN and operated more than 1,000 wallets, contrary to their intended use for small transactions.
- IRDAI while directing all general and health insurers to include AYUSH coverage, relaxed the requirement of prior approval for listing for insurance companies.
- IMF while lowering projections of global economy, raised growth rates for India though lower than what Govt released on Monday, before presenting the interim budget.?
- Output in the eight core infrastructure sectors expanded at a sluggish clip of 3.8% in December while manufacturing PMI fell to 54.9 in December.
Suggest reading detailed blog with data points >> https://bit.ly/Weekending4thFeb
