Morning buzz: Blackstone eyes Disney's India business, IMF raises India growth forecast, and more

Here are the top business headlines this morning to get your day started

  • Published:
  • 11/10/2023 09:55 AM

Blackstone has started talks to buy Disney’s India streaming and television business Image: Reuters

Blackstone eyes Disney's India business

Blackstone has started talks to buy Disney’s India streaming and television business. Senior leadership teams of the companies have had multiple meetings. Blackstone is interested in buying the business either fully or partially. This would include the Hotstar streaming service as well as Star India television network, OTT and 30 percent stake in Tata Play.  

(Economic Times)

IMF raises India growth forecast to 6.3 percent in FY24

The IMF has raised India’s growth forecast to 6.3 percent after a strong showing in Q1. This also comes as several international brokerages, including Morgan Stanley, Nomura and Moody’s, have raised their forecasts. Key risks include a slowdown in global growth and high oil prices that would pressure India’s current account and stoke inflation.  

(Economic Times, Mint, Financial Express, Times of India)   

Nearly 70 percent of taxpayers opted for new tax regime

Around 70 percent of taxpayers have shifted to the new regime, according to the CBDT chief, signalling that the steps announced in the Budget to make it the default tax regime have worked. Personal income tax receipts have jumped 32.5 percent as of October 9 against the budgeted growth of 11.4 percent.  

(Financial Express)   

Smaller banks hike interest rates on savings accounts

Small and mid-size banks are offering up to 7.5 percent on CASA accounts to tap into a source of low cost funds. As competition between banks increases, the line between savings accounts and fixed deposits is blurring. The banks say the higher borrowing costs do not pinch them as they are able to hike their loan products accordingly. Once the customer opens a savings account, they are able to cross-sell services to them.   

(Financial Express)