| Description | Currency | Values |
| USD vs INR | 64.85 | |
| Euro vs INR | 79.62 | |
| Euro vs USD | 1.228 | |
| Gold / 10 gram | INR | 30,473 |
| Sensex | 33,844 | |
| Crude Oil WTI (NYMEX) | USD | 61.29 |
2nd round of Global Investor Meet - TN
With investment slipping especially FDI @ Rs.14,800 crores for the year 16-17 which is 50% lower compared to previous year TN is in need of matured industrial policy and administration. TN also is loosing in competition to neighbouring states like Andhra Pradesh with major industries like Isuzu motors & Foxconn moving to Andhra Pradesh. In this GIM meet TN is looking to redo its incentive package for industries in light of new GST regime. Industries can expect some incentives on GST.
Deposit rates to go up?
At the moment there seems to be an increase in Bulk interest rates offered by banks on deposits of above Rs.50 crores as there is demand from corporate for working capital and with advance tax obligation round the corner credit demand is higher.
USD vs INR
USD is at its highest ever this month against INR @ 64.85. It moved up from 64.27 in the past 4 days which is a significant drop. PNB fraud, stock market slippage are cited as some of the reasons. USD is expected to move upto 65.20 in the coming trading sessions.
Rising Inflation cause of concern
Inflation increase is a cause for concern of Indian economy which is mainly driven by higher food and energy costs. Target is 4% set by RBI.
Rising Trade deficit
Imports climb 26.1% outpacing exports, which rise by 9%. Trade deficit is on a 3 year high @ $ 16.3 billion last seen at this levels in November 2014. Higher imports are mainly due to oil imports jumping by 42% in January
RBI Stricter norms on NPA
In February 12th notification - RBI has directed as below
In respect of accounts with aggregate exposure of the lenders at Rs.2,000 crores and above, on or after March 1, 2018 (‘reference date’), including accounts where resolution may have been initiated under any of the existing schemes as well as accounts classified as restructured standard assets which are currently in respective specified periods (as per the previous guidelines), RP shall be implemented as per the following timelines:
- If in default as on the reference date, then 180 days from the reference date.
- If in default after the reference date, then 180 days from the date of first such default.
This new direction from RBI is a welcome move, this will trigger a higher reporting of NPA as well as early detection of stressed assets and to move insolvency proceedings if required to recover the stressed assets quickly
