India:
- RBI Governor, Urjit Patel, calls on FM, Arun Jaitley, before monetary policy review. The review is expected around 5th/ 6th June
- I Tax authorities warns against cash dealings of INR > 2 lakh
- RBI initiates PCA (prompt corrective action) against Dena bank. To understand more on PCA & Dena bank status, click here (Dena bank NNPA worsens to 10.66% and so is ROA. FY17 ROA at -0.67 is not healthy)
- Chinese daily highlighted ‘demonetization’ as a self-goal by GOI in context of slower than expected GDP growth
- A few banks, Karnataka & Indian banks, reduces rates further on loans
- Niti Aayog confirmed that it has initiated an annual household survey for urban & rural areas to get a better understanding of employment situation. This will be then updated on quarterly basis
- Former statistician, Pronab Sen’ believes that the current impact of note ban on GDP discounts the impact on informal sector/ un-organized sector
- Good monsoon may augur well for the economy and GDP as well. As of now, Met predicts a good monsoon this year. Good monsoon can be the unlikely savior/ messiah for Indian’s public sector banks reeling under ‘bad loan’s
On the international, a few key highlights:
- The precarious position of distressed Spanish bank ‘Banco Popular’ has caught PIMCO (one of world largest asset manager) on wrong foot due to plunging price of the banks’ riskiest bond
- Elsewhere, the climate change and the Paris accord are in vogue courtesy the recent statements by American President
Source:
News feed under ‘Top News’ in Randomwalks.in