27/01/2025
- The rains have been progressing well. The monsoons till August 17, 2024 is 4.4% above normal.
- Direct Tax collection jumps about 24% to 8.13 trillion from April to August 2024.
- RBI directs HFCs to maintain 15% of the amount of total fixed deposits as liquid funds and not issue deposit at more than 5 years.
- Retail inflation slows down to 3.5% in July 2024. This will encourage RBI to reduce interest rates sooner than late.
- Apple exceeds PLI scheme target, ships 85% iPhones by production value.
- India’s weight in MSCI EM index hits 20%
- Karnataka directs all government departments to suspend transactions with SBI, PNB. A few incidents, where banks did not release some money due to pending cases against State Government departments has led to such action.
- L&T semiconductor Technologies will sign contracts with six automobile companies by the end of Sept, making them its first clients.
- India’s imports from China in July stood at a staggering $10.2 billion while exports stood at just $1.5 billion. Very poor deficit with China. India needs to act fast. You cannot let the China have such a strong trade surplus from India.
- At the end of July, equity mutual funds were sitting on a cash of Rs 80000 crores, top 26 funds. They are trying to conserve cash to be deployed on corrections.