PM Modi and RBI governor Shaktikanta Das have both said that local lenders are strong, after the US banking crisis spilled over to the Indian stock market and rattled bank stocks.
Switzerland’s 2nd largest bank has been merged with country’s largest bank & its rival UBS for a lot lower than its market value. Regulators say this was the best way forward.
India can raise the SVB issue with G20 finance ministers and evolve a banking framework to insulate emerging economies of the South from frauds committed by the developed North.
Data & the feel after 6 years under PM Modi proves a strong leader doesn’t necessarily give us decisive economic leadership unmindful of immediate political risks.
As bad debt piles up & the budget deficit target goes out of the window, it’ll be tough for RBI Governor Shaktikanta Das to keep all the balls in the air.
Indian Hotels Co., Tata’s listed firm that operates the Taj brand, plans to dispose of certain budget inns in non-metro areas and lease them back for a fee.
Investors have made their preferences clear: Good private banks quote at higher multiples of book value, while govt banks quote discounts. This cannot continue.
IAF is firming up plans to revamp airlift capabilities with medium transport aircraft that will be assembled in India & serve as its main workhorse. Embraer is leading contender as of now.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
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