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India Insights

Monthly update on Indian markets
05 November 2019
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    Summary

    • After taking the lower-than-expected growth rate for the first quarter of FY20 into account, the Reserve Bank of India cut its GDP growth forecast for the year sharply to 6.1 per cent from 6.9 per cent
    • Following the October rate cut, we see scope for additional modest easing despite rising food inflation, a lack of adequate monetary transmission and risks of fiscal slippage, but policy actions will be data dependent
    • India’s second largest software services company announced that it had launched an independent investigation into two whistleblower complaints on potentially irregular accounting practices; no immediate material impact on the company’s financials is expected
    • In the current negative bond yield environment, the appeal of India’s high yielding bonds is further strengthened as investors seek not only assets with attractive yields but ones of high quality

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