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bank borrowings to non-bank financing companies for nearly six years, the trend has now reversed. Latest RBI data for the period of July 2024 shows that the growth of outstanding credit exposure of banks to non-banking financing companies grew nearly half of the growth recorded in July 2023. According to RBI data, the bank's outstanding credit exposure to non-banks stood at Rs 15.3 lakh crore as of July 2024, indicating an 12.7% on year growth that is approximately half of the growth rate reported in July 2023. On a sequential basis, the amount fell by 1.7%. «The credit extended by banks to NBFCs which had earlier exhibited a consistent upward trend for close to six years and continued its acceleration along with the phased reopening of economies after the Covid-19 pandemic has now reversed,» said Sanjay Agarwal, Senior Director – BFSI Ratings, CARE Ratings. «Advances to NBFCs have experienced a slowdown in growth at 0.5% in July 2024 from December 2023. The reported growth rate of advances to NBFCs has been below the overall bank credit growth since December 2023. This can be attributed to regulatory actions (risk weights), base effect, and capital market borrowings.»

could benefit Indian RMG exporters like Gokaldas Exports Ltd, K.P.R Mill Ltd, and Arvind Ltd. Unsurprisingly, shares of these stocks touched new highs, reflecting the Street’s optimism. Sentiment boosts aside, grabbing a meaningful chunk from Bangladesh’s textile export pie may not be easy.

₹223 crores, while NTC Industries’ standalone net profit fell almost 78% to ₹44 crores in Q1 FY25. Even ITC, the most diversified player in the tobacco business, reported a mere 0.3% on-year rise in its standalone net profit to ₹4,920 crore in the same period. Also Read: ITC shares hit a new high post budget.

South China Morning Post, the Hong Kong daily, reported that the Malaysian Retailers Association has publicly called on Kuala Lumpur to significantly raise duties on imported goods costing $115 or less from the 10% levy imposed in January. The retailer’s association estimates it is losing 30% of its business to e-commerce portals selling goods shipped in from China. “Because we have not tightened up any rules or regulations, Malaysia has become a dumping ground for excess capacity from China," Ameer Ali Mydin of the Malaysian Retailers Association told the newspaper.

U.S. Vice-President Kamala Harris and former president Donald Trump clashed over the economy, immigration and reproductive rights in Tuesday night’s presidential debate, as both candidates sought to make their case for winning the White House in November.

Donald Trump and Kamala Harris on Inflation: During the high voltage debate that could help in shaping 2024 Presidential elections, the two showcased differing view points on tax cuts, trade wars and more. Trump, 78, criticized Harris for the persistent inflation during the Biden administration's term, though he overstated the level of price increases. He also pivoted quickly to his top issue, immigration, claiming again without evidence that immigrants from «insane asylums» are crossing the U.S. southern border with Mexico.

Taylor Swift endorsed Democrat Kamala Harris in the US presidential contest against Donald Trump, saying she was a «warrior.» «I will be casting my vote for Kamala Harris and Tim Walz in the 2024 Presidential Election,» she posted on her Instagram account. Read More: US Presidential Debate 2024: Donald Trump, Kamala Harris clash over economy, abortion and more; Here are key takeaways

Sri Lankan elections in India’s Southern neighbourhood with less than a fortnight left for the Presidential polls there. In what promises to be a closely contested fight, Sajith Premadasa, formerly of United National Party, and Anura Kumara Dissanayake of Janatha Vimukthi Peramuna. Incumbent President Ranil Wickremasinghe is fighting an uphill battle. However, can still close the gap and win the polls in the second preference vote. Mahinda Rajapaksa’s son Namal is the other main contender, but may not stand a chance in this election, according to observers of Lankan elections. On a recent visit to Colombo, NSA Ajit K Doval met all four candidates and New Delhi is keeping a close eye on elections whose outcome will enable further strategic and economic partnership.

Economic Survey 2024: Farmers should move to high-value agriculture to increase income “We need to reimagine the role of agriculture in the economy. In field crops, which are grown on 94% of our land, growth hasn’t even been 2%. So, the segment that is driving growth is not benefitting all farmers.

Reserve Bank of India (RBI) has been carrying out a nimble balancing act over the past couple of months to ensure exchange-rate stability, supplying dollars in a broader trade deficit environment, but not allowing the rupee to breach the psychologically crucial 84 mark to a dollar. Over the past month-and-a-half, the rupee has hit new lows versus the dollar on several occasions as speculation about a growth slowdown in the US has sparked risk aversion, weakening global investor appetite for emerging market currencies.

US markets is looking at a rough couple of months, with some major concerns surrounding stocks like S&P 500, Nvidia, Nasdaq 100, that are heavily losing their market capitalization, and also placing immense pressure on its closely associated stocks. Fears of recession is majorly driving this downslide of the stocks, with Nvidia stock prices falling heavily, as their AI chip launch draws close.

Rep. Maria Salazar, R-Fla., on Vice President  Kamala Harris proposal to help small businesses and House Speaker Johnsons expected move to link the SAVE Act to federal funding.

Brazil will play Paraguay in FIFA World Cup qualifier game for South America on Tuesday night. Five-time winners and the most successful soccer team in FIFA World Cup won their previous match against Ecuador. Paraguay drew with Uruguay in their last game. Brazil versus Paraguay soccer game is scheduled to kick off at 8.30 pm (ET) on Tuesday, September 10 at Estadio Defensores del Chaco — Asuncion in Paraguay. Also Read: Big worry! A US recession indicator is stating that the world's largest economy is in a downfall

S Jaishankar on Tuesday said India is open to pursuing business with China, but the question is in what sector and under what terms. He was speaking in Berlin at Germany's annual ambassadors' conference. Jaishankar stated that China was the world's second-largest economy and a premium manufacturer.

US recession is currently becoming an unwanted reality, as various market factors are suggesting that there are major chances of a major effect on the national economy. The pandemic had earlier triggered a major inflation in the country, worse than what was seen in the last 40 years, and now, there are chances that things could deteriorate again if the impending recession does arrive.

Finance Commission is open to listening to the views of all states and consider all possibilities, including their grievance on facing a cut in central allocations despite better performance on the economy front, the Commission's Chairman Arvind Panagariya said on Tuesday. Panagariya, who is on a visit to Telangana along with the other members of the Commission as part of the panel's state visits, said it was expected that better-performing states would generally say that (they faced a reduction in central allocations). «That (states which made progress saying their allocations declined) is to be expected. At least so far, what we have seen, in two of the states, Karnataka and Telangana, we have heard that,» the economist told reporters here.

Squeezed by an economic downturn and a rapidly aging population, China took a step toward raising its unusually low benchmarks for when people should retire. China has one of the lowest retirement ages among major economies, letting women retire as early as 50 and men at 60—policies unchanged since the 1950s. Beijing has long said it wants citizens to work longer, but has repeatedly put off any policy changes for fear of social pushback.

US recession could easily become a reality, as per some insights from the bond market, which the US Federal Reserve is already contemplating seriously about. A recession could see a major issue for the US economy, leading to rising unemployment, frequent market crashes and much more. And the weakening jobs market is exactly a major hint that a recession could be along the way for the United States.

Matt Norris, investment adviser to the VT Gravis UK Listed Property fund, explained there are five key drivers supporting his positive outlook for the sector's growth potential in the near term. Deep Dive: REIT sector focus matters even as sharp discounts abound The first is the continuation of the interest rate easing cycle, which Norris said should lower future refinancing costs and reduce the discount rates used to value properties, while the second is the growing economy. «The UK economy is demonstrating resilience, with a soft landing evident in recent economic data,» Norris s...

low-carbon transition can create potential distortions and trade tensions, the World Trade Organization (WTO) has said.