Slipped Again
Comparison of indices – closing 12th June 2020 vs 5th June 2020
Last week: NIFTY50 -1.7%, Midcap +1.3%, Smallcap -0.7%,
Sectoral: REALTY +1.3%, METAL -4.1%, BANK -1.8%
S&P affirms India’s rating at ‘BBB-’, outlook stable
Amidst fear of a rating downgrade, S&P Global Ratings has affirmed ‘BBB-‘ long-term and ‘A-3’ short-term sovereign credit ratings on India. The agency said the outlook on the long-term rating is stable. It reflects India’s above-average real GDP growth, sound external profile, and evolving monetary settings.
FM advises PSBs to speed up loan disbursement for MSMEs
FM Nirmala Sitharaman has held a review meeting on credit guarantee scheme with heads of public sector banks (PSBs), and asked them to expedite loan disbursement under the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for MSME sector.
India's economy to contract 3.2% in FY21: World Bank
World Bank report estimates that India’s economy will shrink by 3.2% in the current financial year (FY21). A host of international agencies forecast a contraction in growth rate due to coronavirus lockdown halting economic activity. Pandemic and multi-phased lockdown imposed to curb its spread has resulted in a blow to the Indian economy.
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