What is a letter of comfort?

. In April this year, the Union finance ministry had barred ministries and departments from issuing letters of comfort. The idea was to usher in transparency. And now, the Reserve Bank of India has disallowed such quasi bank guarantee instrument provided by a corporate. So what is this document? . A letter of comfort is … Read more

What increasing business optimism means for growth

The Reserve Bank of India’s latest Industrial Outlook Survey shows that despite input cost pressures, businesses are optimistic about demand and business sentiments are positive. Why does RBI conduct this survey and how does it help policymaking? Mint explains. What do business sentiments mean? Business sentiments simply indicate whether companies are confident in carrying on … Read more

The path to greater financial inclusion

Nearly 40 percent of the country’s population has embraced digital payments and we account for the highest volume of real-time payment transactions at 48 billion (2021). Thankfully, fintech has played a massive role in bringing about a revolution in financial inclusion. TO READ THE FULL STORY, SUBSCRIBE NOW AT JUST RS 249 A MONTH. Key … Read more

Muthoot Finance net profit down 17 percent in Q1

Muthoot Finance registered a net profit of ₹802 crore in Q1 FY23 against ₹971 crore in Q1 FY22, a decrease of 17 percent year-on-year (yoy). Loan assets stood at ₹56,689 crore when compared to ₹52,614 crore in the same quarter last year, registering a growth of eight percent yoy. But they declined by two percent … Read more

Independence Day 2022: What financial freedom means to MSMEs

By Harshvardhan Lunia Credit and Finance for MSMEs: Freedom has many facets, but at its core lies in the availability and ability to exercise choice and experience independence. This thought lies at the basis of the need for an individual’s financial independence as well, for which we can take MSMEs as the perfect example. MSMEs … Read more

RBI’s digital-lending rules: Paytm’s BNPL biz may need operational tweaks

Currently, under Paytm Postpaid, loans are not directly disbursed to the customer’s account Dear Reader, Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how … Read more

India to be fastest growing economy in the world this year: Govt source

While inflation continues to be above the comfort zone, the economy has continued on its recovery path, supported by pent-up demand for services and higher industrial output. Rising inflation rates notwithstanding, India will be the fastest growing economy in the world this year, a top government source said on Thursday. While inflation continues to be … Read more

India To Be Fastest Growing Economy This Year And Next, Claims Govt Source

India will be the fastest growing prominent economy this year and next despite headwinds from growing inflation, widening trade deficit and a shrinking rupee, said a top government source on Thursday (August 11). While the widening trade deficit and exhausting forex reserves due to higher import bills had raised alarm bells for the current account … Read more