Consequences Financial News

Uday Kotak, the founder and director of Kotak Mahindra Bank, wants you to move away from banks in a bid to create sustained growth story. You heard that right. In so called year-end musings, Kotak highlighted a changing landscape where savers are transforming into investors, presenting challenges for the banking sector regarding deposits and funding costs. «As savers become investors the banking sector faces challenges on its deposits and cost of funds. The large corporate sector has to meaningfully move to capital markets (debt and equity) and away from banks,» Kotak wrote on a Twitter post. «Banks will become distributors of corporate debt rather than storage houses. They will need to penetrate mid sized corporates, MSMEs and consumers,» he added. He also said that we need to keep Japan of the 80s at the back of our mind.

‘No consequences if a face is not projected’: Pawar on INDIA bloc PM candidate Yesterday Congress constituted the manifesto committee for the 2024 general elections at the party's 139th foundation day rally -- titled `Hain Taiyyar Hum' (we are ready) -- in Nagpur and sounded the bugle for the 2024 Lok Sabha elections. Senior Congress leader P. Chidambaram was appointed as the Chairman and former Deputy Chief Minister of Chhattisgarh TS Singh Deo as the Convenor of the Manifesto Committee.

With 2024 around the corner, it is a good time to take stock of the prevailing political uncertainties around the world and their possible economic consequences. It is a vast subject. In this short column, I will touch on only a few key political fault-lines and share some speculations on their possible economic consequences.

Also Read: Smallcaps in Review | From BSE to Angel One, here are the top 10 smallcap gainers of 2023; check full list Healthy inflow from domestic institutional investors (DII) and foreign institutional investors (FII) brought back confidence in the market. Consequently, the key domestic benchmarks Sensex and Nifty 50 continued reaching multiple records and gained nearly 20-22 per cent in the last one year.

American YouTuber and podcast host Patrick Bet-David increased by $20 million just because Lionel Messi became his neighbor. According to the Daily Star, Messi's mere presence in the plush area has been financially lucrative for his neighbor. The social media influencer, who boasts of more than one billion views across his two channels, has seen the value of his property go through the roof. After joining MLS team Inter Miami, the eight-time Ballon d'Or winner moved to the US. Lionel Messi initially moved to a £ 7 million apartment near the iconic Golden Beach. However, he spent £8.4m on a humongous property located in Fort Lauderdale.

Decline in inflation: In the realm of developed markets, central banks made significant strides in curbing inflation without inflicting substantial harm on their respective economies throughout the past year. Notably, the United States, despite the Federal Reserve initiating its most assertive tightening cycle in over four decades, managed to steer clear of a recession. The effective policies implemented by developed market central banks underscore their adeptness in navigating the delicate balance between taming inflationary pressures and ensuring the sustained health of their economies.

They say that the rising tide lifts all boats. Amid the ongoing bull run, equity mutual funds jumped in their valuations, so much so that the industry’s overall asset size went higher by nearly 23 percent this calendar year until Nov 30.

Budget 2024: What will the market look for in Vote on Account? Mint collated the views of 10 experts on what they expect from the upcoming Budget. Here's what they said: The Budget will largely be a non-event as it will be a Vote on Account and hence largely a report card with the election commission not permitting any major announcements on account of the ensuing general elections. That being said the fiscal numbers are likely to be in line with the budget estimates.

Bengaluru police on Wednesday arrested individuals associated with Karnataka Rakshana Vedike (KRV), a pro-Kannada activist group, while conducting a protest. As reported by ANI, the protest called for all businesses and establishments in the state to display nameplates in Kannada, by the government mandate stipulating that 60 per cent of the nameplates should be in the Kannada language. The demonstration to raise public awareness was organized under the guidance of T A Narayan Gowda, the State President of Karnataka Rakshana Vedike.

Satish Menon, Executive Director of Geojit Financial Services underscores the exact nature of the Budget 2024 cannot be predicted at this stage. However, he expects new initiatives to boost manufacturing in India and government expenditure on Infra to flourish. In an interview with Mint, Menon also shares his views on the market and the sectors he is positive about. Edited excerpts: Our understanding is that the final budget will be after the general election, and the February Budget will act as a provisional one.

Sound of Freedom" to Amazon's Prime Video has sparked new controversy surrounding the polarizing film. The independent production, addressing child sex trafficking, emerged as an unexpected box office success in 2023, poised to conclude the year as the 10th highest-grossing film—trailing behind popular titles like Barbie and Oppenheimer. Presently holding the fourth position on Prime Video's real-time most-watched list, fervent supporters aim to take it to the top spot. However, critics contend that the film shouldn't be accessible for viewing at all.

On Wednesday, Nifty closed at 21,654 (Sensex 72,038), both lifetime highs, no doubt engendering a feeling of wellness among investors. Markets have been on a tear in India following BJP's victory in the latest round of assembly elections, and the anticipation of a thumping victory in the 2024 general elections, coupled with a growing recognition of India's long-term potential. The exuberance of the markets is well-timed when it comes to confidence, the all-important ingredient of economic growth.

In the calendar year 2023, investors’ interest in equity-oriented mutual funds was noticeably high. It is seen as a direct impact of the ongoing bull run of broader market indices. BSE Sensex gave an annual return of 16 percent, so the growing interest of investors in equity is quite understandable.

The decentralized finance system known as Yearn.finance is making a concerted effort to retrieve $1.4 million from arbitrage traders. This predicament came about as a consequence of a multisignature programming mistake that led to a significant depletion of the protocol's currency.

₹355.00 apiece on the BSE. In a regulatory filing, Kansai Nerolac Paints said that its board of directors has approved a proposal for monetization of idle land parcels of the company not being put for productive use.

fixed deposits (FDs). This presents a favourable investment prospect for cautious investors seeking to increase their wealth without exposure to market risks. However, not everyone can afford to invest in large fixed deposits at once.

Russia's crude oil exports and a fifth of coal came to India in the past 12 months, making India the second-largest importer of Russian fuels after China, according to a research agency. Since the European Union imposed a ban on the import of coal, oil and some other commodities from Russia on December 5, 2022, supplies to India and China have increased. Between the EU ban and the end of November this year, China imported 40% of all the coal and 45% of all the crude oil Russia exported, according to the Finland-based Centre for Research on Energy and Clean Air (CREA). India purchased 32% of Russia's crude oil exports while the EU (8%) and Turkey (4%) were the third- and fourth-largest buyers.

The Economic Possibilities For Our Grandchildren in 1930, a brief optimistic tract about the distant future at a time when the world was facing immense economic difficulties. His vision of a world of abundance and leisure, when cultivation of the art of life will be more important than an endless pursuit of the means of life, was at odds with the huge misery and unemployment that was spreading across most of the world.

Karnataka government rolled out the last of Congress’ pre-poll guarantees on Tuesday, with chief minister Siddaramaiah formally opening registrations for the unemployment assistance scheme Yuva Nidhi. The AICC, readying itself for the upcoming Parliament elections, is banking heavily on the guarantee formula, which has led to landslide victories for the Congress this year in both Karnataka and Telangana assembly polls. Speaking at the Yuva Nidhi launch, the CM slammed Prime Minister Narendra Modi, calling him out on his “lack of economic understanding” for criticising the guarantees.

Chinese assets have had a terrible year—but China’s currency is gaining ground as an international payments option. The yuan’s status as a global currency still faces a huge obstacle in the form of China’s own capital controls. Even so, rising willingness to conduct trade in yuan could help insulate China’s economy, at least to an extent, in the event sanctions were imposed in a hypothetical future conflict with the West.

The past six months have been challenging for listed ceramic tile makers. Shares of key tile manufacturers Somany Ceramics Ltd, Kajaria Ceramics Ltd and Cera Sanitaryware Ltd have clocked muted returns of 4-8% as demand has been sluggish. Apart from elevated inflation, a slowdown in retail demand and delays in construction due to higher cement and iron prices have weighed on domestic demand, said analysts.