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Daily Voice: RBI unlikely to hint at interest rate cut in October policy meeting, says First Water Capital's Arun Chulani

Money ControlMoney Control · 9m ago
Daily Voice: RBI unlikely to hint at interest rate cut in October policy meeting, says First Water Capital's Arun Chulani
Medial

Arun Chulani, Co-Founder of First Water Capital, believes that the Indian central bank (RBI) is unlikely to hint at a rate cut in its October policy meeting. Chulani stated that the RBI runs a tight ship and with the economy still growing at 7-8%, there is no immediate requirement for a stimulus to increase demand. He also emphasized the potential for growth in the chemical sector and highlighted the attractiveness of sectors like flexible packaging and private banks in the current market environment. Chulani mentioned that India offers long-term tailwinds, such as young demographics and infrastructure spending, making it an appealing investment destination.

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As RBI relents on policy stance, what is the outlook for Indian equities?

Money ControlMoney Control · 9m ago
As RBI relents on policy stance, what is the outlook for Indian equities?
Medial

the MPC meeting, several factors were considered that led to the change in policy stance: 1. Economic slowdown: The Indian economy has been facing a slowdown, with GDP growth falling to its lowest level in recent years. The rate cut is expected to provide a boost to the economy and revive growth. 2. Inflation outlook: The inflation rate has remained well within the RBI's target range, providing room for a rate cut. Lower interest rates can help stimulate consumption and investment, driving inflation higher. 3. Global factors: Weak global growth and uncertainty due to trade tensions have also influenced the decision. The RBI believes that a rate cut could help counter potential external risks and support domestic demand. 4. Liquidity conditions: The banking system has been facing liquidity constraints, which have impacted credit flow in the economy. The rate cut is expected to improve liquidity conditions and make credit more easily available. 5. Policy transmission: Despite previous rate cuts, the benefits were not fully passed on to borrowers. The RBI expects that a change in policy stance will encourage banks to transmit the rate cut to borrowers more effectively. 6. Market expectations: Market participants were anticipating a rate cut, and the change in policy stance aligns with these expectations. This move is seen as a positive signal for the stock markets and investor sentiment.

Moneycontrol Pro Panorama | Will inflation hold back RBI from cutting interest rates?

Money ControlMoney Control · 9m ago
Moneycontrol Pro Panorama | Will inflation hold back RBI from cutting interest rates?
Medial

Retail inflation in September reached its highest level for the year 2024, causing concern among market participants. Despite positive global cues and a drop in crude oil prices, benchmark stock market indices are trading with slight losses. The Reserve Bank of India's (RBI) recent shift in policy stance to neutral has raised expectations of an interest rate cut in the next meeting, but the latest inflation data may complicate that decision. Excessive monsoon rains have damaged crops and disrupted supply chains, leading to a spike in food and vegetable prices. The RBI will need to balance inflation concerns with signs of demand moderation and slowdown in the domestic economy. Additionally, external risks, such as the US presidential election and global economic slowdown, could influence the central bank's decision-making.

UPI transactions surge 8% in December

EntrackrEntrackr · 6m ago
UPI transactions surge 8% in December
Medial

UPI transactions surge 8% in December Unified Payments Interface (UPI) recorded 16.73 billion transactions worth Rs 23.25 lakh crore in December, marking an 8% increase in volume and a 7.88% rise in value compared to November. On a year-on-year basis, this reflects a 39% year-on-year (YoY) growth in volume and a 28% increase in value, according to data released by NPCI (The National Payments Corporation of India). The average daily transaction count for December was 540 million, with a total daily transaction value of Rs 74,990 crore. In November, the daily average transaction count was 516 million, with a daily transaction value of Rs 71,840 crore. This upward trend continued from October 2024, when UPI processed 16.58 billion transactions worth Rs 23.50 lakh crore. PhonePe currently leads the UPI market with nearly 48% share by transaction volume, followed by Google Pay at 37% and Paytm at 7%. The market share is unlikely to change as NPCI has extended the compliance timeline for Third Party App Providers (TPAPs) exceeding the volume cap in UPI. The deadline has been extended by two years, until December 31, 2026. Meanwhile, NPCI has lifted the user onboarding limit for WhatsApp Pay, allowing the platform to extend UPI services to its entire user base across the country. Currently, UPI payments are accepted in seven countries, including Bhutan, Mauritius, Nepal, Singapore, Sri Lanka, and France. According to media reports, NPCI is working to expand its services to Qatar, Thailand, and the broader Southeast Asian region.

UPI transactions near 17 Bn in January

EntrackrEntrackr · 5m ago
UPI transactions near 17 Bn in January
Medial

UPI transactions near 17 Bn in January The Unified Payments Interface (UPI) recorded 16.99 billion transactions worth Rs 23.48 lakh crore in January, reflecting a 39% year-on-year growth in transaction volume and a 28% increase in transaction value. On a monthly basis, UPI saw a 1.55% growth in volume and nearly a 1% rise in value, compared to 16.73 billion transactions worth Rs 23.25 lakh crore in December. According to data released by the National Payments Corporation of India (NPCI), the average daily transaction count stood at 548 million. PhonePe currently leads the UPI market with a 47.7% share of transaction volume, followed by Google Pay at 36.7% and Paytm at 6.87%. This market share distribution is unlikely to change soon, as NPCI has extended the compliance timeline for Third-Party App Providers (TPAPs) exceeding the UPI volume cap. The new deadline has been extended by two years, until December 31, 2026. Meanwhile, NPCI has lifted the user onboarding limit for WhatsApp Pay, allowing the platform to offer UPI services to its entire user base across India. Recently, NPCI Chief Dilip Asbe disclosed that approximately 450 million users are currently utilizing UPI, with around 200 million daily active users. He emphasized the need for substantial support from the Reserve Bank of India (RBI), the government, and the broader financial ecosystem to explore strategies for onboarding an additional 200-300 million users onto the UPI platform.

Quick Clean raises Rs 50 Cr in Series A round

EntrackrEntrackr · 4m ago
Quick Clean raises Rs 50 Cr in Series A round
Medial

Quick Clean, a professional linen management solutions provider, has raised Rs 50 crore ($5.7 million) in its Series A funding round co-led by Alkemi Growth Capital and Blue Ashva Capital, and witnessed an additional investment of Rs 10 crore ($1.15 million) credit line from Venture Debt Cos. The company had previously raised $188K from Deepan Exim and others. The fresh funds will be used to expand its footprint into healthcare and hospitality, Quick Clean said in a press release. Co-founded in 2010 by Anshul Gupta and Ankur Gupta, Quick Clean started by introducing coin-operated laundromat services before evolving into an importer and distributor of commercial laundry equipment and expanding to 45 franchises in their first year of operation. The company has partnered with leading technology providers like Electrolux Professional, Trevil, and Rennai. The Gurugram-based company has a presence across 36 cities in India, with a team of over 750 experienced professionals and an ARR of Rs 80 crore. Quick Clean boasts over 3,000 installed machines across more than 120 five-star hotels and leading healthcare chains, including Taj, Marriott, Fairmont, ITC, Radisson, AIIMS, PMCH, and other large organizations. The company has claimed to have processed over 600 million kg of linen, saved 210 million liters of water (meeting the daily water requirement of 15 lakh households), and reduced 60 million kg of carbon emissions. Quick Clean aims to raise hygiene standards, enhance sustainability, and lead India’s professional linen management revolution.

Daily Voice: Don't foresee any substantial risk of significant capital moving from India to China, says Ladderup's Raghvendra Nath

Money ControlMoney Control · 9m ago
Daily Voice: Don't foresee any substantial risk of significant capital moving from India to China, says Ladderup's Raghvendra Nath
Medial

- Raghvendra Nath is the Managing Director at Ladderup Wealth Management. - Indian markets have witnessed a powerful rally driven by domestic flows, resilient economic growth, and strong earnings growth from companies. - Investors have become more selective, focusing on high-quality and high-growth stocks, while stocks that were primarily driven by liquidity and speculation may see a gradual decline in valuations. - There may be some moderation in earnings expectations during the Q2 FY25 earnings season, but no major downgrades are anticipated due to favorable macroeconomic factors. - The Reserve Bank of India (RBI) is expected to maintain its policy stance unchanged in the upcoming October meeting, considering the geopolitical tensions in the Middle East. - The real estate sector in India has shown signs of improvement, with increased demand and record-breaking sales. However, caution is advised as stock prices already reflect much of the optimism. - The recent rally in the Chinese market is seen as a relief rally rather than a structural pivot, and India's relative attractiveness remains high. No substantial rebalancing or risk of significant capital moving from India to China is anticipated.

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