Supporting growth will remain RBI’s top priority, show minutes - Gopika Gopakumar, Mint
Members of the Reserve bank of India's Monetary Policy Committee at its rate review held on 7 August have agreed that supporting growth will remain their top priority in the midst of inflation remaining stable within the next one year, according to the minutes of the meeting released on Wednesday.
Airtel declares broadband war on Jio - Kalyan Parbat, Economic Times
Bharti Airtel is pulling out all stops to take on Mukesh Ambani-led Reliance Jio Infocomm’s home broadband offerings. Come September, the Sunil Mittal-led telco will bundle a customised Android-based smart set top box (STB) to deliver converged digital entertainment and fast broadband services, aimed at matching JioFiber’s upcoming offerings.
Banks on rate cutting spree on nudge from RBI - Shayan Ghosh, Mint
Public sector banks have started reducing their marginal cost of funds-based lending rate (MCLR) following the Reserve Bank of India’s (RBI) decision to lower its repo rate by an unconventional 35 bps on 7 August.
Airtel readies battle plan to ride out the Jio storm - Navadha Pandey, Mint
Earlier this month, Reliance Jio dethroned Bharti Airtel as the number two operator in terms of subscriber base. Jio has also became the number one operator by revenue in less than three years of operations, surpassing Vodafone Idea in the June quarter.
Reviving sentiment could be key to battling economic slowdown - Roshan Kishore, Hindustan Times
High-frequency economic indicators suggest that the current economic slowdown is likely to worsen. The core-sector industry index grew just 0.2% in June. India’s biggest car maker Maruti Suzuki reported a 36% annual decline in car sales for the month of July. The stock market has gone into a tailspin after the budget was unveiled on July 5.
Surcharge hike: Will the rich outsmart the taxman? - Sugata Ghosh, Economic Times
The super-rich in India are racking their brains to figure out ways to soften the blow dealt by New Delhi’s decision to impose a stiff surcharge on their income tax. Many business families that hold their assets under local private trusts — entities that are hit as severely as several FPIs and wealthy salaried individuals — are exploring options such as changing the character of the trust or housing the assets in limited liability partnerships (LLP) which have to pay less tax.
Govt in talks with foreign lenders to boost small businesses - Financial Express
India’s government is in talks with foreign lenders to provide as much as $14.5 billion in credit to millions of its small firms, two officials said, in a sign, the country’s banking system may not be robust enough to do the job on its own.
Will Reliance Jio relent on pricing pressure after 6th consecutive ARPU fall? - Navadha Pandey, Mint
Reliance Jio, India’s youngest and only profitable telecom operator, on Friday overtook rival Bharti Airtel to become the country’s second largest operator in terms of mobile phone subscribers.
Budget 2019 needs to give the economy a much needed stimulus - Raghuvir Srinivasan, Hindu
Faltering GDP growth, a consumption slowdown, a truant monsoon that has already hit kharif sowing, global trade tensions and a freeze in the credit market that has set alarm bells ringing across the financial system. This is the backdrop to the maiden Budget of the Finance Minister, Nirmala Sitharaman.
Why Budgets no longer matter to the stock market - Business Line
Even as all eyes are on the Finance Minister, as Nirmala Sitharaman prepares to present her maiden Budget, the stock market is quite indifferent to annual exercise. In fact, the Budget has not been a material event for stocks, for the past 10 years or so.
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