Tuesday, August 25
The Reserve Bank of India said in the minutes of its Monetary Policy Committee meeting that a swift conclusion to trade negotiations could lend support to growth, even as ongoing uncertainties continue to pose downside risks to the outlook."External uncertainties continue to pose downside risks to the outlook, while speedy conclusion of ongoingtrade and investment negotiations present upside potential," the minutes of the Monetary Policy Committee (MPC) meeting read. The Reserve Bank of India’s rate-setting Monetary Policy Committee (MPC) on Friday revised India’s GDP forecast for FY2025-26 upwards to 7.3%, compared with the earlier estimate of 6.8%. For Q3 FY26, the central bank raised its growth estimate to 7.0% from 6.4%. The forecast for Q4 FY26 was also raised to 6.5% from 6.2%. S
New Delhi | Bengaluru: Standard Chartered Bank widened a fraud probe at its priority banking unit after a complaint surfaced in mid-November about funds disappearing from a customer’s account at a branch in Bengaluru, according to people with knowledge of the matter.The inquiry is looking at possible diversion of funds worth at least Rs 80 crore belonging to a set of high net worth individuals (HNI) who have accounts at the bank’s MG Road branch in the city, they said.The case had begun last month with a customer complaining about the diversion of Rs 2.7 crore. The Karnataka government has ordered the transfer of the case from the Bengaluru City Police to the state Criminal Investigation Department (CID). 126064306 ‘Customers Top Priority’ The transfer has been ordered since the a
Mumbai: ICICI Prudential Asset Management is likely to make a firm market debut on Friday as the bidding rush in its recent initial public offering (IPO) points to strong investor appetite for the stock. "Looking at the phenomenal response to the IPO, there is a likelihood of listing gains to the tune of 10-20%," said Sunny Agrawal, head of fundamental research at SBI Securities. The company sold shares at ₹2,165 apiece in the issue. The ₹10,602.65-crore issue was subscribed 39.17 times. The grey market premium (GMP) - the extra price investors are willing to pay over the IPO price in the unofficial market before listing - for ICICI Prudential's shares was up to ₹375, or 17.3%, on Thursday evening, according to ipowatch.in. This suggests the stock could list at above ₹2,500. Broke
The European Central Bank left interest rates unchanged for a fourth straight meeting as inflation hovers around target and the euro zone weathers global shocks. The deposit rate was kept at 2% on Thursday - as predicted by all analysts in a Bloomberg survey. Policymakers continued to offer no guidance on future steps, stressing that they'll act one meeting at a time based on incoming data. Fresh forecasts accompanied the decision, envisaging firmer economic expansion and inflation returning to 2% in 2028 after falling short of that level during the next two years.126067164 The updated assessment "reconfirms that inflation should stabilise at the 2% target in the medium term," ECB said in a statement. The euro erased an earlier drop to trade about $1.1733. Bunds edged down, with the 10-yea
