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Amazon-backed Future Retail set to tap bond market amid cash crunch

The retailer joins other stressed Indian issuers looking to build cash buffers to survive the coronavirus pandemic’s financial fallout.
An under-construction building (Representational image) | Commons

Regulatory lapses & policy uncertainty are pushing infra financing into crisis: Experts

At CPR Dialogues 2020, former SEBI chief U.K Sinha said there is a lack of accountability when it came to infrastructure financing institutions.
Shoppers walk through the New Market area in Kolkata, India, on Tuesday, April 30, 2019. Prime Minister Narendra Modi is seeking a re-election bid in national elections | Photo by Prashanth Vishwanathan | Bloomberg

Global bond market looks to Modi for greater access to India

India needs to cut limits on foreign ownership of sovereign bonds & allow the rupee to trade more freely on international markets.
Indian economy

Debt crisis has hurt India’s plans to have a bigger bond market

India’s credit crisis is impeding changes to rupee bond market, which has operated like a cosy club of a few big local banks & brokers doing deals.
Mumbai city skyline | File photo: Kuni Takahashi/Bloomberg

India’s first overseas debt bond sale is failing

India’s first planned foray into the overseas bond market may be stillborn due to its historical aversion to borrowing in foreign currencies.

India must overhaul its foreign exchange market to boost export, balance out trade deficit

Achieving a market-driven realistic exchange rate mechanism for the dollar was one of the key policy goals of the 1990-91 economic reforms in India.
A $100 dollar and a Rs 10 banknote

How govt of India and RBI can manage the risk of foreign currency borrowing

The risk of foreign currency borrowing can be minimised if govt and RBI stick to FRBM Act and inflation-targeting frameworks. A Public Debt Management Agency also needs to be set up.
Skyline of Mumbai | Representational image | Kuni Takahashi/Bloomberg

India’s maiden $10 billion foreign bond debt sale deal is fraught with confusion

A news report claims the PMO is opposed to selling debt in foreign currencies, a day after a top finance ministry official overseeing the sale was transferred.
File image of former finance secretary Subhash Chandra Garg | Photo: Suraj Singh Bisht | ThePrint

Shunted to power ministry, finance secretary Subhash Garg opts for voluntary retirement

Subhash Chandra Garg, moved to power ministry Wednesday, was behind the budget announcement to raise funds from sovereign bond issuance overseas.
Mumbai city skyline | File photo: Kuni Takahashi/Bloomberg

India’s plan to raise $10 billion comes at a time when world is desperate for yield

The deal will give global funds more access to Indian sovereign bonds, and may also let the country’s other issuers adjust debt sale prices.

On Camera

Angela Merkel, Germany's chancellor, delivers a speech during a special address on day two of the World Economic Forum (WEF) in Davos

Quantum chemist Angela Merkel has finally become Europe’s leader

There's consensus in Berlin that Merkel's connection with European integration is cerebral, not emotional. Covid seems to have changed that.
File image of a GST Council meeting chaired by Finance Minister Nirmala Sitharaman

GST collections in June stand at Rs 90,917 crore, 9% lower than last year

GST collections for the first quarter of this fiscal declined 59% as lockdown imposed to contain spread of Covid-19 pandemic severely impacted economic activity.

Defence

An army convoy moving towards the Zojilla pass, in Drass, Ladakh on 28 May 2020 | Representational image | ANI

India, China repeat calls for phased de-escalation in 3rd round of corps commander talks

India & China's calls for de-escalation are similar to those made at the second round of military talks but implementation is proving a challenge on the ground.
Illustration by Soham Sen | ThePrint

India must believe threat of war is real, even if Chinese build-up is coercive diplomacy

India invented coercive diplomacy with Op Parakram. But unlike Pakistan back then, it must never blink, be prepared for war, and wear out the Chinese.