Panel to review FPI diktat : SEBI
Amid apprehensions that its April 10 circular on beneficial ownership of offshore funds could cause potential capital outflows of $75 billion,SEBI said it would review the matter and take a “holistic view”, seeking to assuage panic among investors.
India claimed breakthrough in RCEP talks
Commerce Ministry officials said there was a breakthrough in understanding India’s concerns at the recently held meeting in Singapore on August 30-31.
FPI outflow concerns preposterous: SEBI
SEBI issued a statement saying it is preposterous and highly irresponsible to claim that 75 billion dollars of FPI investment will move out of the country because of SEBI’s circular issued in April 2018.
Financial savings are up
The gross financial savings of the household sector, as a proportion of disposable income, saw a sharp rise in 2017-18, shows the RBI’s annual report.
Mauritius top FDI source in India
According to RBI data released, Mauritius remained the top source of foreign direct investment into India in 2017-18 followed by Singapore.
PSU banks plan closure of 70 overseas offices in FY18
Public sector banks are in the process of closing or rationalising about 70 overseas operations as part of capital conservation exercise.
Rs 3 lakh crore loans to come under IBC for resolution
As much as Rs 3 lakh crore worth of loans of 70-80 companies is likely to come in for resolution under the Insolvency and Bankruptcy Code (IBC)
US sanction on Iran lead to rise in oil prices
Oil prices gained more than 1 percent on Friday, ending a run of weekly declines on signs that Iran sanctions may limit global supply and that a trade war may not curb China’s appetite for U.S. crude.
Forex reserves drop $33.2 million to $400.84 billion
According to RBI data, India’s foreign exchange reserves fell by $33.2 million to $400.847 billion in the week to 17 August mainly due to fall in foreign currency assets.
Finance Commission holds second consultation
15th Finance Commission held its second consultation with the leading economists in Pune on 21st August 2018.