Big News

Mastercard to Invest US$1bn in Indian Financial Infrastructure.  Mastercard announced an investment of US$1bn in India over the next five years, proceeds of which will go towards increasing infrastructure as well as doubling its headcount in the country.

RBI Boosts Liquidity Requirements for Financial Services Companies.   The Reserve Bank of India (RBI) released the draft guidelines on liquidity risk management framework for non-banking financial companies (NBFCs) and core investment companies (CICs) following rating downgrades and debt defaults in the NBFC sector over the last eight months.

India GDP Grows Slower Than Expected at 5.8%.  India’s economic growth rate slowed to five-year low of 5.8% in January-March 2018-19, with overall growth for FY19 falling to 6.8%, lower than 7.2% in the previous financial year.

Morgan Stanley Sets Sensex Target of 45,000, Nifty Target of 13,500 by June 2020.  Morgan Stanley analysts estimate the Sensex to hit 45,000, up from 39,500 currently and Nifty to reach 13,500, up from 11,859 currently, by June 2020.

Indian Company Oyo Becomes Second-Largest Hotel Group in China.  Indian hospitality firm Oyo became the second-largest hotel group in China within 18 months of its foray into the country, with presence in 320 cities and nearly 10,000 Oyo-branded hotels.

Private Equity and Venture Capital Deals Grow 79% Y-o-y.  April recorded the highest number of PE and VC deals for any month in India, with funds executing 102 deals worth US$4.4bn during the month, a 79% year-on-year growth in deal value.