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Goldman Sachs Downgrades India's Real GDP Forecasts From 8% to 7.6% et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Mar 20, 2018 1:18 PM 1 min read
Editorial

End of Day Wrap-up (Tuesday / March 20, 2018) #MehulChoksi #VinodRai #BBB #GoldmanSachs #Uber #UK #Brexit #CBI #GDP #PNBscam #NiravModi #inflation #Transfin

Editor's Comment: Nirav Modi's uncle Mehul Choksi sends letter to CBI saying he is unable to join the probe due to business commitments & health issues. Mentions he is unlikely to come back within the next 6 months.

 

Banks Board Bureau chief Vinod Rai cites communication breakdown with govt to explain inaction on the BBB's recommendations. Says he is yet to hear back from the Department of Financial Services on recommendations made on reforms in appointments, compensation, performance assessment and governance almonst a year ago.

 

Goldman Sachs downgrades India's real GDP forecasts from 8% to 7.6% for 2018-19 in light of the PNB scam, anticipating tighter regulations which may constrain credit growth.

 

Parliamentary committee criticises govt on wide gaps between allocated vs. used funds wrt Smart Cities, Affordable Housing etc. schemes. Govt reverts low spending figures are not reflective of progress on ground.

 

A self-driving Uber involved in a fatal pedestrian crash in Phoenix Arizona. First death involving a fully autonomous vehicle. Uber suspends all ongoing road-testing exercises.

 

UK inflation rate falls more than expected in February as impact of pound post-Brexit slide reduced. Bank of England still expected to increase rates by May.