The Ministry of Coal (MoC) is taking decisive action to ensure a reliable power supply for Indian citizens during the peak demand period. Through a multi-pronged approach, they have achieved record-breaking coal stockpiles at thermal power plants, exceeding 45 million tonnes (MT) as of June 16, 2024. This represents a significant 31.71% increase compared to …
The scorching heat wave gripping Northern India since mid-May 2024 has pushed power demand to unprecedented levels. The region saw its highest-ever peak demand of 89 GW on June 17th, 2024. Despite these challenges, the government successfully met this demand by strategically importing 25-30% of the region’s power needs from neighbouring states. Utilities have also …
Fitch Ratings has increased its growth forecast for India to 7.2%, aligning with the Reserve Bank of India’s (RBI) prediction. This positive outlook is driven by improving consumer confidence and higher investment. Although investment is expected to continue rising, it will do so at a slower pace than in recent quarters. FY 2023-24 Economic Performance …
India’s natural gas sector witnessed a significant shift in May 2024, with a decline in LNG imports balanced by a rise in domestic production. According to data released by the oil ministry, LNG imports fell by 7.2% year-on-year, reaching 2,650 million metric standard cubic meters (MMSCM) compared to 2,854 MMSCM in May 2023. Domestic Production …
Credit rating agencies (CRAs) in India are seeking intervention from the central bank, the Reserve Bank of India (RBI), to address the rising issue of non-cooperative companies. The Problem A significant challenge faced by CRAs is the increasing number of rated companies (estimated at over 60%) that are withholding crucial information needed to maintain their …
India’s retail inflation records a 12-month low of 4.75% in May, as per government records. This is slightly lower than the 11-month low in April of 4.83%. The number remains within the RBI’s tolerance band of 2-6%. The inflation rate, however, remains unchanged at 0.48% in May. Other records that impact the aggregate retail inflation …
On June 12, 2024, the Telecom industry body Cellular Operators Association of India (COAI) said it expects the government to assign the 6 GHz band spectrum for expanding 5G networks. Additionally, COAI proposed implementing a policy where major applications would bear the cost of excessive data traffic they generate. The association, representing key players like …
Indian banks are urging the Reserve Bank of India (RBI), the country’s central bank, to relax a key liquidity rule to free up more funds for lending. The RBI has raised concerns about a potential mismatch between deposit growth and loan disbursements, which could create future challenges for banks. What’s the Issue? The rule in …
The Securities and Exchange Board of India (Sebi) unveiled Mumbai’s upgraded ‘Saa₹thi 2.0’ mobile application. The main goal of launching this app is to simplify financial concepts for investors. With a revamped user interface, the app offers comprehensive tools, including financial calculators and instructional modules covering KYC procedures, mutual funds, ETFs, and stock exchange transactions. …
India’s manufacturing growth decelerated to a 3-month low in May due to a heatwave, reducing working hours for some firms. However, overall factory activity remained strong, supported by robust international sales, according to a business survey released on June 03, 2024. Regional Heatwave Impact In May, certain northern and western regions of Asia’s third-largest economy …
