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Two words but conveys tons of insights. This is the single most important factor to determine the health of a lending institution. Gross non-performing assets (GNPA) which is an indicator to gauge asset quality are in their best shape right now.

In particular, analysts said the Fed’s expectation of accelerating economic growth next year, rising to 1.2% from a forecast 0.2% for 2022, was incongruous with such sharply higher interest rates. Analysts at Barclays said the growth projection was “difficult to reconcile” with slowing spending and the “intensifying drag from tightening financial conditions.” As higher rates raise costs for companies, spending falls, hiring slows, and unemployment rises.

But inflation and subsequent rate hikes by the U.S. Federal Reserve led to a wide sell-off in the alternative asset class that dealt a heavy blow to several companies in the sector. Digital asset exchange Coinbase Global Inc and crypto lender BlockFi have been forced to cut jobs, while Singapore-based crypto hedge fund Three Arrows Capital has filed for bankruptcy.

Nasdaq Digital Assets, will offer custody services for cryptocurrencies, including bitcoin and ethereum, potentially pitting it against firms such as Coinbase, Fidelity Digital Assets and Winkelvoss twin-owned Gemini that offer similar products. Nasdaq has hired Ira Auerbach, a Gemini executive, to lead the new unit

The fall in the foreign exchange reserves can be attributed to a fall in the Foreign Currency Assets (FCA), which is a major component of the overall reserves, according to the Weekly Statistical Supplement released by RBI. Foreign currency assets dropped $4.70 billion to $484.90 billion for the same period. Gold reserves fell $458 million to $38.19 billion.

The group has initiated the process to consolidate its seven subsidiaries including four listed companies Tata Metaliks, Tata Steel Long Products, TRF Ltd and Tinplate Company of India Ltd into Tata Steel Ltd. The other three companies are Indian Steel & Wire Products Ltd, Tata Steel Mining Ltd and S&T Mining Company Ltd.

"The investment in Caelux aligns with our strategy to create the most advanced green energy manufacturing ecosystem, backed by world class talent, and built on the pillars of technological innovation achieved through strategic partnerships," Ambani said. "We will work along with the team at Caelux to accelerate its product development and commercialisation of its technology."

"The company has not outsourced any collection activities in its vehicle finance business to any third-party agencies and, therefore, the company does not expect any impact on collections in this business," M&M Finance said in a statement.

Goldman said it expects margins to improve further and is forecasting FY24 to be the first year of adjusted EBITDA profitability for Paytm. This could be a key catalyst for the stock, it said.Goldman said if the Reserve Bank of India removes the ban on Paytm Payments Bank to onboard new customers imposed in March 2022, it could be another trigger for the stock. One97 Communications owns 49% in Paytm Payments Bank (PBBL).

In the BSE500 index, 345 stocks settled in the red, whereas other 155 stocks posted gains for the week. Only eight stocks were able to rise 10 per cent or more, whereas the same number of stocks clocked double-digit cuts. Benchmark indices - BSE Sensex and Nifty 50 - dropped over a per cent each, while midcap and smallcap indices underperformed as they shed 2 per cent during the week. The BSE500 index was also down by more than a per cent.