S&P Global Ratings on Thursday cut India's growth forecast for the current fiscal to 9.5%, from 11% earlier, and warned of risk to the outlook from further waves of COVID pandemic.
similarRhino62112
⋅
Warning bell - fixed deposits are getting closed more - debits are increasing
The COVID-19 pandemic has impacted Indian household savings in a major way with their financial savings down 21% from 10.4% to 8.2% in the October-December quarter of 2021, according to data from the Reserve Bank of India.
This followed a decline of household bank deposits to GDP ratio that fell to 3% from 7.7% in the July-September quarter. Financial assets to GDP ratio fell to 12.7% in Q3 FY21 from 15.8% in Q2 FY21.
Conversely, household debt went up in the same period. “It (household debt to GDP ratio) rose sharply to 37.9% at end-December 2020 from 37.1% at end-September 2020,” said RBI.
Market bubble will melt continuously….
similarRhino62112
⋅
Seized malaya Nirav Modi etc asset is different recovery is different. Took loan of 5 lakhs crores and seized asset of only 18 thousand crores. Seized asset is holding only not recovery. It takes long time to get back the money. It’s also pure fraud. Whose money is lost ? Public money only lost. That’s why said clearly banks are frauds run by frauds guided by frauds getting personal benefits. People die they live happily and enjoy.
Goi and rbi not doing anything for real sme and msme. They are genuine people. Not able to pay the loans and become NPA now. Why not government write off this sme and msme loans ? They are the real back bone to this country economy development know. Then why they are doing only for big corporates ? That also specially for G state based business people. Big fish wants to live then only they can continue in the central chair. It’s not fair.
Today ril announcement is going to be big shock to ril share holders. Jio entity is going to be listed separately it’s not part of ril book hereafter. Then you can see the real book value of ril it’s debit free or in loss ?
Be careful don’t follow bogus paid media news. Understand the reality. Market bubble will melt continuously…:
similarRhino62112
⋅
Next big threat to economy
As cases of Delta Plus variant increase, Indian Centre calls for containment. The cases have primarily ben concentrated in three states - Maharashtra, Madhya Pradesh and Kerala.
Maharashtra saw a jump in its daily Covid-19 count on Wednesday, recording 10,066 fresh cases. Tope said it is a matter of concern that daily cases are not falling below 8,000.
Till now, the Delta Plus variant has been found in 197 samples across 11 countries - Britain, India, Canada, Japan, Nepal, Poland, Portugal, Russia, Switzerland, Turkey, and the United States.