The RBI's first version of gilt acquisition programme, or 'G-SAP 1.0', has drawn comparisons with the quantitative easing programmes launched by the US Federal Reserve and other major central banks. It is, however, rather difficult to view it as anything but quantitative easing by 'jugaad'.
Equity market consolidation and risk-return payoff dynamics have driven money into arbitrage funds in the last three months. Arbitrage funds saw net inflow of 133 bln rupees in Jan-Mar.
SEBI's penalty on RIL promoters sends a message that continuing non-compliance with core principles of major regulations such as takeovers, insider trading and fraud will attract the highest penalty.
In its maiden issue in December 2019, the Bharat Bond Exchange-Traded Fund had raised 124 bln rupees. The second tranche of the bond ETF in July raised close to 109.9 bln rupees. Initial estimate suggests it might be for around 100-150 bln rupees.
India's headline retail inflation may have risen to a four-month high of 5.4% in March due to higher fuel prices and low base, an Informist poll shows. The statistical effect of a low base may also push up inflation in March.
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