India’s manufacturing sector growth fell to an eight-month low in September amid softer increase in factory production, sales and new export orders, a monthly survey said on Tuesday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) fell from 57.5 in August to 56.5 in September, registering the weakest pace of growth since January.
Posts tagged Rediff
Sebi board okays new asset class, MF Lite rules (01-10-2024)
The Securities and Exchange Board of India (Sebi) on Monday approved the introduction of a new asset class, designed to offer greater flexibility to fund managers and target investors with a higher risk appetite. The markets regulator also cleared the liberalised Mutual Funds Lite (MF Lite) framework, aimed at fund houses that solely launch passively managed schemes. In another significant move, the board reduced the timeframe for rights issues from the current 317 working days to just 23.
RBI diktat for gold loan providers (01-10-2024)
The Reserve Bank of India (RBI) on Monday directed banks and non-banking financial companies (NBFCs) offering gold loans to thoroughly review their policies, processes, and practices to identify any gaps. The central bank also told them to closely monitoring their gold loan portfolios amid significant growth observed in this segment vis-à-vis some lenders. Additionally, the RBI, through a circular, instructed these lenders to ensure adequate controls over outsourced activities and third-party service providers.
New launches a positive for top realty players (01-10-2024)
The national real estate market presents an intriguing picture. Lower volumes and flat pricing serve as dampeners. Sales bookings across the top ten markets have seen 6 per cent growth year-on-year (Y-o-Y) between April and August 2024, but sales volume is down 8 per cent Y-o-Y. Unsold inventory is up.
Tata Motors-Spinny tieup makes upgrade to EV easier (01-10-2024)
The company has the largest car park in EVs in India, estimated to be around 170,000 units. As a pilot, it has already started work with used online car marketplace Spinny.
Why Is Made In India iPhone Costlier?! (01-10-2024)
18% cent GST on iPhones continues to weigh heavily on the final cost to Indian consumers, limiting the impact of price cuts.
Sebi plans new asset class; Rs 10 lakh min investment (30-09-2024)
Capital markets regulator Sebi on Monday cleared a proposal to introduce a new asset class for high-risk profile investors to bridge the gap between mutual funds and portfolio management services in terms of flexibility in asset construction. The minimum amount of Rs 10 lakh can be invested for the new asset class per investor across all investment strategies of the new product in a particular AMC.
Govt extends I-T audit report filing date to Oct 7 (30-09-2024)
The income tax department has extended the date for filing audit report for 2023-24 by 7 days till October 7. In a circular, the I-T department said considering the difficulties faced by taxpayers in electronic filing of various audit reports under the Income Tax Act, the deadline is being extended from September 30 to October 7.
Fiscal deficit in Apr-Aug at 27% of full-year target (30-09-2024)
The Centre’s fiscal deficit at the end of the first five months of the current fiscal touched 27 per cent of the full-year target, government data showed on Monday. In absolute terms, the fiscal deficit — the gap between expenditure and revenue — was at Rs 4,35,176 crore as of August-end, according to data released by the Controller General of Accounts (CGA). The deficit stood at 36 per cent of the Budget Estimates (BE) in the corresponding period of 2023-24.
India’s CAD widens to 1.1% of GDP in April-June (30-09-2024)
The country’s current account deficit widened marginally to $9.7 billion or 1.1 per cent of GDP in April-June 2024, as against $8.9 billion or 1 per cent in the year-ago period, Reserve Bank of India said on Monday. The crucial number representing the country’s external sector strength has come on the heels of a surplus of $4.6 billion or 0.5 per cent of GDP recorded in the preceding January-March quarter. The Reserve Bank attributed the year-on-year widening in current account deficit to a rise in merchandise trade gap which was recorded at $65.1 billion in Q1 FY25 as compared to $56.7 billion in the year-ago period.