(Bloomberg) Sign up for the India Edition newsletter by Menaka Doshi – an insider's guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly.Most Read from BloombergChina Weighs Stock Market Rescue Package Backed by $278 BillionIndia Tops Hong Kong as World’s Fourth-Largest Stock MarketFlorida Governor DeSantis Drops Out of 2024 Race, Endorses TrumpHong Kong Stocks at 36% Discount Show True Depth of China GloomMorgan Stanley, JPMorgan Sa
The cohort are betting on inclusion in global bond indexes to drive returns after the central bank doused speculation of an interest-rate cut. In 2023, Indian sovereign bonds saw their best annual performance in three years.
The insurance buyout will allow Kolkata-based Bandhan, which began as a microfinance company, to expand its remit beyond banking and asset management. The stake purchase is subject to regulatory approvals. The value of the buyout, and the quantum of proceeds to each of the exiting stakeholders, weren t immediately known.
The weighted average call rate, an overnight funding cost rate that the central bank monitors, have climbed almost 30 basis points since the start of the year. At 6.78% on Wednesday, it’s just hovering above the upper band of the Reserve Bank of India’s interest-rate corridor of 6.75%.