 "Top headlines: Subpar global trade growth, Sebi crackdown on ads, and more")
RBI should prioritise inflation over growth, say FinMin officials
Finance ministry officials are of the view that the Reserve Bank of India (RBI) should prioritise bringing inflation down within the mandated range of 2-6 per cent, even if economic growth is adversely impacted in the process.
“The central bank should focus on combating inflation until it is within the tolerance level of 6 per cent, even if it pares (down) growth,” a senior government official told Business Standard. He said that inflation is still elevated, which could have an impact on low-income strata. Read more...
Sebi takes slew of measures to crack down on misleading investment ads
Market regulator Securities and Exchange Board of India (Sebi) has announced a slew of measures to crack down on investment advisors and analysts making misleading advertisements or claims in order to solicit investments.
In a circular issued on Wednesday, Sebi prohibited the use of terms like ‘Best’, ‘No. 1’, ‘Top’, ‘leading’, and ‘one of the best amongst market leaders’, among others in any form of advertisement. Read more...
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Global trade growth expected to be subpar at 1.7% in 2023: WTO
The World Trade Organisation (WTO) on Wednesday said that the global merchandise trade volume is expected to grow 1.7 per cent in 2023 as compared to an earlier estimate of 1 per cent in October, but lower than 2.7 per cent growth in 2022.
The global trade body cautioned that the expected to be ‘subpar’, due to multiple factors, including the ongoing Russia-Ukraine conflict, stubbornly high inflation, tighter monetary policy and financial uncertainty. Read more...
RBI rate hike touch & go affair amid inflation, growth concerns, swaps show
India’s rates traders are on the fence about a quarter-point rate hike on Thursday, even though a majority of economists are predicting one.
Policy decisions this week from some of the Reserve Bank of India’s global peers offer a good reason for the split. While Australia’s central bank bolstered the case for global doves by calling a halt to its tightening cycle, its New Zealand counterpart emboldened hawks by opting for a larger-than-expected hike. Read more...
HDFC Bank garners record Rs 1.5 trillion deposits in a quarter
HDFC Bank has exceeded its target of garnering Rs 1 trillion in deposits during a quarter for the first time since it announced its merger with HDFC Ltd in April last year.
During the January–March quarter (Q4) of FY23, the country’s largest private sector lender mopped up over Rs 1.5 trillion in deposits. This is a record for the bank, which saw its deposit base touch Rs 18.88 trillion. Read more...