Issue: 1080
OECD sees India maintaining
growth momentum in FY26; GST to help push growth: India’s economy is expected to
grow 6.7 percent in FY26, the Organisation for Economic Co-operation and
Development (OECD) said on December 2, keeping its forecast unchanged. In
its latest Economic Outlook, the OECD noted that India remains one of the
fastest-growing major economies, supported by strong investment activity and
resilient services. “Real GDP is projected to grow by 6.7% in fiscal year
2025-26, 6.2% in 2026-27 and 6.4% in 2027-28. Higher tariffs applied by the
United States are expected to weigh on exports, but private consumption will be
supported by rising real incomes as inflation remains low and consumption taxes
decline,” OECD said. The Paris-based institution said investment will be
sustained by declining borrowing costs and strong public capital expenditure.
(Moneycontrol)
India–US yield gap widens
to near 12-month high: After narrowing sharply in
June 2025, the yield gap between India’s 10-year government bond and the US
10-year Treasury has widened again to nearly 250 basis points - its highest
level in close to a year. Analysts say such a reversal after a steep
compression usually reflects diverging rate expectations, currency pressures
and shifts in foreign investor appetite. India’s benchmark 10-year
yield is hovering around 6.56 percent, while the US 10-year is trading near
4.10 percent, widening the spread from June’s compressed level of about 189
basis points.
(Moneycontrol)
Rupee slide makes it one of
the most undervalued EM units: The rupee on Tuesday came
within a whisker of the psychologically crucial 90-to-a-dollar mark, testing an
all-time intraday low of 89.95 and closing at a record low of 89.87. INR is
being buffeted by FPI selling in the equity market, importer demand,
short-covering by speculators, delays in clinching the tariff deal with the US,
the possibility of a repo rate cut, and reduced RBI intervention, among others.
In the calendar year so far, the rupee has depreciated about 5 per cent (or
about 425 paise) against the US dollar.
(Business Line)
RBI releases
2025 list of Domestic Systemically Important Banks (D-SIBs): State
Bank of India (Bucket 4), HDFC Bank (Bucket 2), and ICICI Bank (Bucket 1) continue
to be identified as Domestic Systemically Important Banks (D-SIBs) under the
same bucketing structure as in the 2024 list of D-SIBs.
The
additional Common Equity Tier 1 (CET1) requirement for these D-SIBs will be in
addition to the Capital Conservation Buffer will be 0.80% for SBI, 0.40% for
HDFC Bank and 0.20% for ICICI Bank.
(RBI Press Release)
Foreign holding in SBI,
BoB, 3 more PSBs down, govt says no plan to raise the limit: Shareholding by foreign
investors in five out of 12 PSBs, including SBI and Bank of Baroda, has come
down at the end of FY25, data presented by the Finance Ministry in Rajya Sabha
on Tuesday showed. The Ministry clarified that there is no plan to raise the
threshold. Also, it reiterated that there is no plan for merger of public
sector banks currently. “No Sir,” the Minister of State in Finance Ministry,
Pankaj Chaudhary, said in a written reply when asked whether the government has
proposed raising the FDI limit in PSBs to 49 per cent. He also informed that
the FDI limit in PSBs and private sector banks are 20 per cent and 74 per cent
respectively. In case of private sector banks, up to 49 per cent of FDI is
through the automatic route.
(Moneycontrol)
Razorpay secures RBI’s
cross-border payment aggregator licence: Fintech startup Razorpay has
received an aggregator licence for cross-border payments from the Reserve Bank,
Payment Aggregator – Cross Border (PA-CB) licence. In a social media post on X,
Shashank Kumar, founder of Razorpay, said that the step brings their vision of
a global payments network from Asia much closer. “We’re already the largest
non-bank cross-border payments player in India powering global brands we all
know…This milestone strengthens our commitment and ability to help businesses
go global, faster and with far less friction.” Kumar said.
(Financial Express)
Govt not considering hike
in FDI limit to 49% for public sector banks: MoS Finance: The government is not
considering any proposal to raise the foreign direct investment (FDI) limit in
public sector banks to 49 per cent, from the current 20 per cent, Minister of
State for Finance Pankaj Chaudhary said on Tuesday. The FDI limit in PSBs and
private sector banks is 20 per cent and 74 per cent, respectively. In case of
private sector banks, up to 49 per cent of FDI is through the automatic route
and beyond 49 per cent and up to 74 per cent, government route is applicable.
(Financial Express)
In a first, complaints
against private banks exceed PSBs in FY25: For the first time, complaints
against private lenders under the Reserve Bank of India’s Integrated Ombudsman
Scheme (RB-IOS) exceeded those against public-sector banks (PSBs) in FY25.
According to data released by the central bank, private banks received 111,119
complaints during the year, compared with 103,117 complaints against PSBs. Total
complaints increased by 13.55 per cent to 1.33 million in FY25, up from 1.18
million in FY24. The RBI received these through the Office of the Reserve Bank
of India Ombudsman (ORBIO) and the Centralised Receipt and Processing Centre
(CRPC).
(Business Standard)
The Department for
Promotion of Industry and Internal Trade Recognises 1,97,692 Startups Under
Startup India Initiative: The Department for Promotion
of Industry and Internal Trade (DPIIT) has recognised 1,97,692 entities as
startups under the Startup India initiative as of 31st October 2025. Further,
as on 31st October 2025, 6,385 recognised startups are categorized as closed.
Under Startup India initiative, the Government is implementing three flagship
Schemes, Fund of Funds for Startups (FFS), Startup India Seed Fund Scheme
(SISFS), and Credit Guarantee Scheme for Startups (CGSS) to provide funding
opportunities and support startups across sectors at various stages of their
business cycle.
(PiB)
Maruti installs 2,000
exclusive EV charging points across 1,100 cities: MD: Maruti Suzuki has established more than 2,000
exclusive electric-vehicle (EV) charging points across over 1,100 cities,
marking one of the country’s most extensive EV charging footprints, Managing
Director & CEO Hisashi Takeuchi said on Tuesday. With the charging network
in place, the company plans to begin sales of its first electric car e Vitara
in 2026, he stated. “Trust me, it is worth the wait,” he said in his speech
during a company event, adding that the company’s efforts are aimed at
expanding the overall EV market in India rather than merely competing within
it.
(Business Standard)
ADB approves $650 mn loan
to boost India's rooftop solar rollout by 2027: Multilateral development bank ADB has approved
a $ 650 million (about Rs 5,780 crore) policy-based loan to help the Government
of India accelerate rooftop solar adoption and expand access to clean,
affordable energy for 10 million households by 2027. The financing under
Subprogram 1 of the Accelerating Affordable and Inclusive Rooftop Solar Systems
Development Program will support the government's flagship initiative Pradhan
Mantri Surya Ghar: Muft Bijli Yojana (PMSGMBY) which aims to make rooftop solar
systems widely accessible nationwide, ADB said in a statement on Tuesday.
(Business Standard)
Govt may turn Sanchar
Saathi order into advisory: Handset majors Apple and Samsung have opened
communication channels with the department of telecommunications (DoT) seeking
a rollback of the directive that mandates the pre-installation of the Sanchar
Saathi cyber-security app on all new smartphones sold in the country. Industry
executives told Fe that the companies have proposed a middle path: instead of
forcing installation at the manufacturing stage, the government should convert
the order into an advisory under which brands would actively promote voluntary
user downloads.
(Financial Express)
Govt to allow farmers, cottage units to use LLP model: The government may allow farmers and people engaged in handloom, handicraft or other cottage industries to form limited liability partnerships (LLPs) to let them take advantage of the light-touch regulations under the LLP Act, 2008. In the ongoing winter session of Parliament, the government is expected to table the Corporate Laws (Amendment) Bill, 2025 that will seek to amend the LLP Act so that primary producers don’t have to go through the conventional way of creating producer companies and be subjected to a host of compliance.
(Financial Express)
HIT THE BID
§ "Hit the bid" is a term used when a trader
agrees to sell at the bid price, the highest price a buyer is willing to pay
for a security or asset.
§ The "bid-ask" spread is the difference
between the highest price that a buyer is willing to pay and the lowest price
that a seller is willing to accept. An individual looking to sell will hit the
bid if they wish to transact immediately at that price.
§ To hit the bid, the most effective method is to
enter a market order to sell, although a sell limit order set at the current
bid price is also possible to avoid selling lower than the prevailing bid.
RBI KEY RATES
Repo
Rate: 5.50%
SDF:
5.25%
MSF
/Bank Rate: 5.75%
CRR:
3.00%
SLR:
18.00%
FOREX RATES (RBI REF. RATE)
INR
/ 1 USD : 89.8887
INR
/ 1 GBP : 118.7699
INR
/ 1 EUR : 104.3500
INR
/100 JPY: 57.7300
EQUITY INDEX
Sensex: 85138.27 (-503.63)
NIFTY: 26032.20 (-143.55)
Bnk NIFTY: 59273.80 (-407.55)
International Day
of Persons with Disabilities: December 3 is
celebrated as the International Day of Persons with Disabilities by the United
Nations. This day aims to promote the rights and well-being of persons with
disabilities, increase awareness about their inclusion in every aspect of life,
and mobilize support for their dignity and integration into society.
Historical events: December 3 is
significant for the Bhopal gas tragedy in India and the start of the
Indo-Pakistan War of 1971. Other key events include the birth of Indian
independence leader Dr. Rajendra Prasad and hockey legend Major Dhyan Chand,
and the first public demonstration of neon lights in Paris.
****Have a nice Day****
Visit our website
www.thebankingupdates.com
For Regular
updates, Monthly e-magazines & Promotion Study materials
CLICK HERE TO
ENROLL THE BANK PROMOTION EXTENSIVE MOCK TEST SERIES
Contact us: #
8261802533
email: admin@thebankingupdates.com