Quick 2 min. Read summary below:
- The global stock market rallies continued, fuelled by favourable US jobs data and anticipation of Fed easing. Indian markets saw consolidation and closed above the 74K mark for the first time.
- The RBI imposed restrictions on IIFL Finance's gold loan business and JM Financial's financing activities related to securities and bonds. We rationalise the concerns arose over potential risks in gold loans due to rising prices and loan practices in our detailed blog.
- RBI introduced amendments to regulate credit card issuance and usage, aiming to protect consumers from fraudulent practices and ensure fair billing practices. It also directed banks and card networks to end exclusive pacts on credit cards, promoting competition and consumer choice.
- RBI proposed interoperability of digital payment systems for internet banking, aiming to streamline fund settlements for merchants and reduce transaction delays and risks.
- SEBI notified regulations for Small and Medium Real Estate Investment Trusts (SM REITs), enhancing investor trust and liquidity in the real estate sector.
- Govt. increased asset and turnover thresholds for mergers and acquisitions, reducing the compliance burden for small deals.
- CRISIL projected Indian economy to grow by 6.8% in FY25, while Moody's raised India's GDP growth projection for 2024 to 6.8
- The government introduced Acing Development of Innovative Technologies with iDEX (ADITI), offering funding up to ₹25 crore for startups to develop innovations required by the armed forces.
- Churchill outlined four themes for private capital in 2024, focusing on the impact of lower interest rates, identifying winners and losers, maintaining diversified portfolios, and embracing next-generation financing technologies.
Suggest reading detailed blog (10 min read) with data points and analysis >> https://bit.ly/Weekending9thMarch
