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2016-10-09 ArtNo.45868
◆India less prone to banking crises;risks higher for China: BIS
 【Basel/ New Delhi】India is less vulnerable to banking distress among the major economies while neighbouring China faces higher risks, according to the Bank for International Settlements (BIS). Data compiled by BIS of more than 40 economies show that credit-to-GDP gap was among the least for India in the first quarter of this year. The metric, seen as a reliable early warning indicator of impending financial crises, captures the build-up of excessive credit in the system. In the first quarter of 2016, India's credit-to-GDP gap stood at -2.9, also the lowest among the BRIC group of nations, as per BIS data. The same stood at -3.0 in the three months ended December 2015. Indicating increased risks in the country's banking system, China saw credit-to-GDP gap jump to 30.1 in the January-March 2016 period from 28.4 seen in the preceding quarter. The metric for Brazil and Russia stood at 4.6 and 3.7, respectively, in the March 2016 quarter. ○CAD narrows sharply to 0.1% of GDP  【New Delhi】Thanks primarily to a lower (down over $9 billion) merchandise trade deficit and despite a decline in services receipts and remittances, India’s current account deficit (CAD) narrowed sharply to $0.3 billion or 0.1% of gross domestic product (GDP) in Q1FY17, compared with $6.1 billion (1.2% of GDP) in the corresponding quarter last year. According to the data from the Reserve Bank of India, despite net FDI inflows moderating to $4.1 billion (from $10 billion in Q1FY16 and $8.8 billion in Q4FY16), the narrower CAD coupled with a flat banking capital number (swinging back from a negative $9 billion in March quarter) helped the balance of payments to be in surplus in Q1 this year: ○Cabinet clears infrastructure push, allows PSUs to raise Rs 31,300 cr  【New Delhi】To augment infrastructure investment, the Cabinet on the 21st of September approved a proposal to allow six PSUs including NHAI, PFC and REC to raise R31,300 crore through bonds in FY17. 【News source】 India less prone to banking crises; risks higher for China: Bank for International Settlements India less vulnerable to banking distress risks than China CAD narrows sharply to 0.1% of GDP Current account deficit narrows to decade low of 0.1% CAD narrows to $300 million in Q1 Narendra Modi Cabinet clears infrastructure push, allows NHAI, other PSUs to raise Rs 31,300 cr Cabinet approves raising Extra Budgetary Resources to augment infrastructure spending ○One world： The aim of SEAnews ◆Recruitment of Ad-SEAnews CanvassersYour Comments / UnsubscribeSEAnews MessengerSEAnewsFacebookSEAnewsGoogleSEAnews eBookstoreSEAnews eBookstore(GoogleJ)SEAnews world circulation |
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