Industry

Logos of ADNOC. (Reuters )
 (Reuters)
(Reuters)

RBI steps up liquidity management to make rate cuts count

  • The RBI's 2 rate cuts this year, totalling 50 basis points, have not been followed with moves of a similar magnitude by commercial banks
  • After April's cut, RBI Governor said the central bank was 'conscious' that the transmission of rate decisions had to be 'appropriate and effective'

 (Photo: HT)

Xiaomi aims 10,000 retail stores in India by 2019

  • Xiaomi had primarily been an online brand since its inception and started its offline sales in India two years ago
  • Xiaomi India said it generated employment for over 2,000 people with the opening of 1,000 Mi Stores, which are spread across 19 states in the country

Last year, Flipkart announced that it was scouting for a 100-acre plot in the outskirts of Bengaluru to set up a logistics park. (Reuters)
Last year, Flipkart announced that it was scouting for a 100-acre plot in the outskirts of Bengaluru to set up a logistics park. (Reuters)

Flipkart to set up more logistic parks, generate 50, 000 jobs: Report

  • This comes at a time when both Flipkart and Amazon have upped ante to secure market leadership
  • The idea behind setting up logistics park is to consolidate fulfilment, sorting and transport centres as supply chain

 (File photo: Hemant Mishra/Mint)
RBI is
RBI is "rightly" pumping liquidity in the slack April-September industrial season to ensure sufficient liquidity in the busy October-March season: BofAML (Reuters )

RBI needs to inject $35 billion in FY20 to allow 16% loan growth, says BofAML

  • The RBI on Tuesday said that it will inject 25,000 crore liquidity through open market operations (OMOs) in May
  • The RBI on Tuesday also conducted its second successful dollar swap auction of $5 billion

After three years, RBI will buy back the same amount of dollars at the premium offered in Tuesday’s auction. (Reuters)
After three years, RBI will buy back the same amount of dollars at the premium offered in Tuesday’s auction. (Reuters)

RBI’s second dollar swap auction fetches bids worth $18.65 billion

  • RBI accepted bids at a premium of 8.38 at at an annualized rate of 4.01% from authorized dealers and paid them rupees in return
  • The central bank says it will purchase govt securities against infusing liquidity worth 12,500 crore through OMOs

The Goods and Services Tax Council in November 2017 made large-scale tax cuts on items such as shampoos, cosmetics, hair oil and groceries from 28% to 18%. (Bloomberg)
The Goods and Services Tax Council in November 2017 made large-scale tax cuts on items such as shampoos, cosmetics, hair oil and groceries from 28% to 18%. (Bloomberg)

P&G India faces charges over profiteering under GST law

  • P&G India reportedly did not pass on GST rate cut benefits of about 250 crore to consumers
  • P&G India says passed on the net benefit to consumers and that it continues to cooperate with authorities

HT Media said on 18 April that the acquisition of Radio One would make it the strongest radio company in the fast-growing metro markets.
HT Media said on 18 April that the acquisition of Radio One would make it the strongest radio company in the fast-growing metro markets.

HT Media acquires 51% stake in Radio One parent Next Mediaworks

  • The Radio One acquisition will not only add an additional station to HT Media's Top 5 metros but also the key market of Pune to its network
  • HT Media is now detailing out the synergies of operations of Radio One with its own brands Fever FM and Radio Nasha

 (Mint)
It can be noted that the RBI has been using OMOs through the prolonged period of weak liquidity starting FY19 itself.  (Reuters )
It can be noted that the RBI has been using OMOs through the prolonged period of weak liquidity starting FY19 itself. (Reuters )

RBI annouces another 25,000 crore OMO in May as liquidity dries up

  • The apex bank also added that the OMO amount is indicative and the RBI retains the flexibility to change it
  • The purchase, called as open market operations (OMOs), will be undertaken in two equal tranches with the first one on May 2

Reliance and SoftBank spokespersons declined to comment on the matter.
India is the world’s third-largest importer of oil. (Bloomberg)
The Indian IT industry is expected to add around 2.5 lakh new jobs this year, according to a TeamLease Services report.
The Indian IT industry is expected to add around 2.5 lakh new jobs this year, according to a TeamLease Services report.

TCS, Infosys increase hiring by 350% in FY19

  • TCS hired 29,287 employees in the financial year ending on March 31
  • Bengaluru-based Infosys added 24,016 software professionals

Allahabad Bank. (Mint)
R S Sharma (Abhijit Bhatlekar/Mint)
Growth in the fourth quarter demand in parts of India remained sporadic (Mint)
Growth in the fourth quarter demand in parts of India remained sporadic (Mint)

Air conditioner demand likely to pick up in Q1FY20: Report

  • India’s air conditioner market is estimated at over 7 million units
  • It is likely to grow on the back of rising penetration, urbanisation and higher disposable incomes

An analysis of the portfolio of microfinance institutions shows that the ticket sizes and loan tenures are rising. (Mint)
An analysis of the portfolio of microfinance institutions shows that the ticket sizes and loan tenures are rising. (Mint)

Microfinance sector faces rising risk of overleverage, says Icra

  • Icra says that the domestic microfinance sector has registered a 28% growth during the 12 months ended December 2018
  • Investors however have continued to support the microfinance industry with equity infusion of around 4,350 crore in FY19

The popularity of test cricket in particular is declining, with both stadium attendance and television viewership eroding steadily over the last five years. (PTI)
The popularity of test cricket in particular is declining, with both stadium attendance and television viewership eroding steadily over the last five years. (PTI)

Global media rights for cricket to touch $2 billion by 2021: Report

  • The findings stated that three key markets – India, Australia and England – accounted for 90% of the value of cricket’s global media rights in 2018
  • With the explosion of smartphones and broadband connectivity, the consumption of live matches has significantly shot up