Currently, there are 23 Indian Government bonds (IGBs) which are eligible for inclusion -- in the widely tracked emerging market debt index -- with a combined notional value of USD 330 billion, as per the JP Morgan statement which also highlights that inclusion of the IGBs will be staggered over a 10-month period starting 28 June, 2024, through 31 March, 2025. Thus, in effect, there will be an incremental addition of 1 per cent weightage per month for these Indian bonds in the index.
The GBI-EM GD accounts for USD 213 billion of the estimated USD 236 billion benchmarked to the GBI-EM family of indices, the JP Morgan statement adds. According to JP Morgan, India is expected to reach the maximum weight of 10 per cent in the GBI-EM Global Diversified Index (GBIEM GD). Following the JPM announcement, spot USD/ INR opened around 31 basis points lower and has since retraced higher by 11 bp, according to market record. While Secretary, Department of Economic Affairs Ajay Seth has welcomed it as a “development showing confidence in the Indian economy,” Chief Economic Adviser V. Anantha Nageswaran underlines the confidence emanating from the fact that “JP Morgan has made this decision on their own”. Nageswaran views it as an attestation of the confidence that financial market participants and financial markets, in general, have on India’s potential and growth prospects and its macroeconomic and fiscal policies. “Just as long-term equity investors have been amply rewarded by investing in Indian markets, so will long-term investors in Indian government bonds be,” says Nageswaran.
Denne historien er fra September 24, 2023-utgaven av The Business Guardian.
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Denne historien er fra September 24, 2023-utgaven av The Business Guardian.
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LG nods to deployment of CDVs
In a move to tackle the ongoing air pollution crisis in the national capital, Delhi Lieutenant Governor VK Saxena on Wednesday approved the redeployment of Civil Defence Volunteers (CDVs) for a four-month period from November 1, 2024, to February 28, 2025.
Delhi has become gas chamber, AAP responsible for all this: BJP
Bharatiya Janata Party leader Shehzad Poonawalla on Wednesday wore a gas mask as the pollution level rises in the Delhi-NCR region and said that the national capital has become a gas chamber.
Police nab wanted shooter Mogli, Gogi Gang member
The Special Cell of Delhi Police on Wednesday arrested the third Gogi gang member in connection with the November 4 firing incidents in Nangloi and Alipur areas.
Winter action plan: Govt to set up 250 pagoda tents for homeless
The Delhi government has rolled out a winter action plan for the homeless as part of which 200-250 pagoda tents with a capacity to accommodate around 2,000 people will be set up and 16 rescue teams will be formed.
DELHI'S AQI HITS 'SEVERE': WORST IN COUNTRY THIS SEASON
Bihar's Hajipur, with an AQI of 417, had the second-worst reading in the country
LG appeals to CM to hike EWS limit to 5 lakh
The lieutenant governor noted that as per the minimum wages notified by the Delhi government the annual income of skilled workers (Rs 21,917X12= Rs 2.63 lakh) is more than the proposed threshold limit of Rs 2.5 lakh.
Delhi court grants bail to Vivo India official in PMLA case
Delhi's Patiala House Court on November 11 granted regular bail to Chinese national Guangwen, alias Andrew, in the Vivo Mobile money laundering case.
Gujarat High Court Rejected Temporary Bail Of Convict For Father's Treatment: 2002 Sabarmati Express Burning Case
The Gujarat High Court in the case Faruk Mohmmad Bhana Through Imran Faruk Bhana Versus State Of Gujarat And Anr observed and has rejected the temporary bail petition filed by a man who is convicted in the year 2002 Sabarmati Express train burning case, seeking for carrying out the medical treatment of his 95-year-old father.
Calcutta High Court On Plea Against Use Of Loudspeakers Near School For Specially-Abled Children: 'Puja Committee Thinks They Are Bigger Than God'
The Calcutta High Court in the case Prajna Paromita Sen And Anr. Versus State Of West Bengal And Ors observed that the use of loudspeakers and blocking of roads outside a specially-abled children's school for celebrating Jadadhatri puja, showed that the 'puja committee thinks they are bigger than the deity itself.
Punjab And Haryana High Court Referred Matter To CJ, Recommends Training: 'Pained And Shocked' Over Trial Judge Who Held Witness Guilty For Taking Contradictory Stand
The Punjab and Haryana High Court in the case Devender @ Sachin versus State Of Haryana observed and has expressed shock over the conduct of a judge who held the witness guilty for giving false statement because he took a contradictory stand before the police and the Court.
