After studying law I vectored towards journalism by accident and it's the only job I've done since. It's a job that has taken me on a private jet to Jaisalmer - where I wrote India's first feature on fractional ownership of business jets - to the badlands of west UP where India's sugar economy is inextricably now tied to politics. I'm a big fan of new business models and crafty entrepreneurs. Fortunately for me, there are plenty of those in Asia at the moment.
Low-income borrowers are facing issues with servicing home loans on account of rural stress and a fall in household savings.
Delinquencies rising in low ticket home loans
Low-income borrowers are facing issues with servicing home loans on account of rural stress and a fall in household savings. There is also a repayment shock on account of rising interest rates. Affordable housing interest rates are usually 2-2.5 times NPA levels of usual housing loans. Affordable housing EMIs have risen by 20 percent due to a rise in interest rates to 13-14 percent.
Two-wheeler makers offer up to Rs 50,000 of discounts
Two wheeler makers have started offering discounts ranging from Rs 2,500 to Rs 50,000 as they fear a slump in demand post the year-end sales season. According to the Federation of Automobile Dealers Association, dealers are sitting on 32-37 days’ inventory despite the fact that the industry clocked 21 percent sales growth in November. Electric two-wheeler makers are offering even bigger discounts.
Rupee hits new low
In advance of the Fed decision on interest rates, the rupee closed at a record low of Rs 83.40. The latest inflation print showed that the disinflation part continues to be rocky. As a result, the Fed in its meeting kept rates on hold. The dollar index, which measures the value of the dollar against six major currencies, also rose to 104.03.
(Economic Times, BusinessLine)
December IPO rise before FIIs go on holiday
More than half a dozen IPOs are planned for the last two weeks of December before FIIs go on vacation. In 2008, 2013 and 2018, there were no IPOs in December and the first week of December 2023 saw no IPOs as there was uncertainty over the election results. Both India Shelter and DOMS Industries’ IPOs got off to a flying start on Wednesday. Expect the next round of IPOs to come after January 8.