ECONOMIC UPDATE

 



  • Indian Forex Reserve reached to $608.999 which is all time high as per the latest RBI report

  • Indian companies foreign borrowings decreased around 51% to $738 million. 

  • Indian households borrowing increased to 37.3% which reflects the financial stress on Indian households also a huge decline observed in bank deposits. 

  • India's Manufacturing Industry affected from the 2nd wave of COVID-19 as per the market data,  PMI (Purchase Managers Index) decreased to 48.1%. 

  • Paytm to raise $2.3 Billion from Indian stock markets though IPO very soon

  • ICICI Bank to revise the charges of ATM withdrawals, Cheque Book, as well as cash transaction limits for its saving account holders from August 1, 2021

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