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<div type="image" title="The RBI has cracked the regulatory whip on NBFCs and banks, who&amp;#39;ve been pushing microfinance and unsecured loans aggressively to grow their loan books." agency="ANI" msid="114778648" hostid="261" caption="&amp;lt;p&amp;gt;The RBI has cracked the regulatory whip on NBFCs and banks, who&amp;#39;ve been pushing microfinance and unsecured loans aggressively to grow their loan books.&amp;lt;/p&amp;gt;"></div> Imagine this. You have a younger sibling you’re mighty envious of. And why not? Unlike you, they seem to enjoy all the freedom and money in the world. They party like there’s no tomorrow, and here you are, stuck in a boring, ultra-disciplined but responsible routine that feels completely devoid of any independence, and mostly, funds. But of late, things are changing. This sibling is in massive trouble and just cannot escape the parent’s wrath anymore. Long story short, the party is over, and it is time to go back home. The rising defaults on this sibling’s part have now begun pulling the entire house down, thereby attracting the regulator’s ire. <h2>The Wild West of <keyword id="113684" type="General" weightage="20" keywordseo="microfinance" source="Orion">microfinance</keyword> and unsecured loans</h2>It's hard to ignore the issues with microfinance and unsecured loans in India. Many saw them as a small gamble and ignored the rising defaults much like the younger siblings’ tantrums, and now they find themselves in hot waters. The skyrocketing instances of non-payments aren't a micro-issue anymore and are threatening the stability of the entire banking system. In the quarter ended September 30, 2024, 5 of India’s 8 largest private sector <keyword id="19934118" type="General" weightage="20" keywordseo="banks" source="keywords">banks</keyword> reported a steep rise in their bad loan book, mostly thanks to microfinance loans. Some banks, in a bid to strengthen their fortress against these <keyword id="142154" type="General" weightage="100" keywordseo="bad-loans" source="Orion">bad loans</keyword>, have significantly upped their provisions. For instance, IndusInd Bank set aside Rs 525 crore during July and September 2024 to battle the menace of defaults on microfinance loans, which make up about 9% of its total loan book. See, banks rely heavily on their interest income, which they earn from advancing loans. Any loan where the borrower has not paid interest to the bank or defaulted for 90 days or more becomes bad, i.e. an NPA, or non-performing asset for the bank. And who likes things going bad? Simply put, there has been a steep rise in three areas, much to the dislike of banks and MFIs (micro-finance institutions). But hey, it's mostly their doing! <ol><li>GNPA ratio (gross net performing assets): The quantum of non-performing assets a bank has in proportion to its total assets.</li><li>Provision: The amount banks set aside to take care of such NPAs.</li><li>Slippage ratio: The rate at which good girls go bad, or the speed at which good loans turn into NPAs</li></ol>But how are these plaguing the Indian banking sector? And what does the road ahead look like? We decode it for you. <h2> Microfinance: A not-so-micro-menace</h2>Microfinance loans were initially brought forth for low-income households and individuals i.e. for those who might not generally have access to traditional ways of credit, like bank loans and more. They don’t require collateral or an asset to be pledged in lieu of the loan, making it a tad bit easier for borrowers. As of June 2024, the amount of outstanding loans in the microfinance industry stood at a staggering Rs 4,20,256 crore. Of this, NBFC-MFIs accounted for 40% and banks made for 33% of these. In 2022, RBI, in a bid to inspire some competition in this space, did something radical-they did away with the ceiling on how much interest MFIs could charge their customers. Previously, MFIs could add up to 12% to their cost of acquiring funds to determine the final interest rate chargeable to the consumer. So, assuming that Bank A incurs a 5% cost to acquire funds for further loaning, A could charge up to 17% interest from the end consumer. So, interest rates were in the hands of MFIs, and boy, did they have a gala time with it. Instead of spurring some healthy competition, as RBI expected, MFIs and banks went rogue and all guns blazing, competing for the title of “Who will charge the highest interest?” Recently, RBI banned 4 microfinance institutions (MFIs), namely Asirvad Micro Finance Limited, Arohan Financial Services Limited, DMI Finance Private Limited, and <keyword id="20117932" type="General" weightage="20" keywordseo="navi-finserv" source="keywords">Navi Finserv</keyword> from disbursing loans effective October 21, 2024. Why? Because they were charging 14% extra interest over their original cost of funds. To maintain their loan books (and pockets), banks and NBFCs resorted to shady practices like netting off loans, which RBI has now advised MFIs against. Here, lenders allow borrowers to settle a previous outstanding loan by issuing them a new loan! As crazy as it sounds, it helped banks to report less of their total assets as NPAs, since the new credit would cover pending instalments of the borrower’s previous loan. Then there was the issue of borrowers overleveraging, i.e. taking multiple loans using different IDs from various lenders and then failing to honour any of them. The consequence? Banks and NBFCs end up with massive NPAs. Data from credit bureaus suggests that over the last quarter, there was a 17.2% rise in the number of borrowers who had 5 or more active loans at the same time. <h2>Growth &gt; Caution</h2>It's an age-old tale unfolding yet again in India’s banking sector- Icarus flew too close to the sun and eventually, fell to its death. Between April and June 2024, NBFCs microfinance portfolio jumped by 2.7%. If you see this in terms of loan sources, microfinance loans issued by banks grew by 11.2% in Q1FY25. But the same portfolio in NBFCs swelled by almost double-23.9%. While most of these loans had an average ticket size between Rs 30,000-50,000, there was a sharp spike in the number of loans that had a ticket size of Rs 80,000 or more. Data suggests that as of March 2024, more than 12% of all microfinance borrowers had over 4 or more active loans. In dating parlance, this is a classic case of borrowers going polyamorous, minus the honesty and transparency. Not the best of situations, you'd agree! <h2>Will banks and NBFCs stand up to this stress?</h2>If their results for Q2FY25 are to be believed, NBFCs are not handling the pressure all that well. Or even slightly well. Only a few banks like Bank of Baroda (BoB), ICICI, and Indian Bank were up for the battle, even witnessing a decline in their loan delinquencies. Some others, like IndusInd Bank, saw their stock dip by a massive 16.2% over the last 5 days. Its slippages in the previous quarter burgeoned from Rs 15.3 billion in Q1FY25 to Rs 17.9 billion in Q2. As a result, the bank pushed a staggeringly high amount of money to create an NPA cushion for itself. While its management has highlighted its preference for secured lending, that was hardly reflected in its actions during the quarter, where growth in unsecured personal loans remained exceptionally high at over 7% on a QoQ basis. Turns out, only 44% of customers in IndusInd Banks’ microfinance loan portfolio were exclusive to it. The rest 47% were, you guessed it right-polyamorous! 27% had borrowed from another lender as well, apart from IndusInd Bank, while 20% were those who had outstanding loans with two other lenders, apart from IndusInd Bank. IndusInd Bank’s credit card segment did not miss the NPA bus and accounted for 7-8% of its GNPAs. Canara Bank’s total slippages during the previous quarter jumped to Rs 11.1 billion, up by 24.7% QoQ, and making up for 3.6% of its total loans. As for Bandhan Bank, its gross NPA for Q2FY25 inched up on a QoQ basis, up from 4.23% in Q1, to 4.68% in the second quarter. IDFC Bank’s heavy provisioning for its NPAs marred its profits significantly, causing its PAT (profit after tax) to dip by 73% on a YoY basis. Data from ICRA Analytics suggest that the AUM (asset under management) growth in microfinance loans and unsecured (personal and business) loans by the NBFCs will moderate to 10-12% and 19-21%, respectively, in FY2025 compared to 30% and 38%, in FY2024. Says A M Karthik, Senior Vice President &amp; Co-Group Head, Financial Sector Ratings, ICRA, “As bank funds constitute a larger share in the overall funding of NBFCs, a slower credit flow from banks to the NBFCs will compress their AUM growth. The NBFCs in unsecured and digital lending businesses shall face a higher squeeze in funding compared to others, and the unsecured lending space will continue to be a source of stress in the near term.” There has been uninhibited growth in <keyword id="6051027" type="General" weightage="20" keywordseo="Unsecured-loan" source="Orion">unsecured loan</keyword>s, apart from just the microfinance segment. For instance, Axis Bank’s gross slippages jumped by Rs 4,443 crore, largely thanks to its unsecured business. The same is the case with Yes Bank, which saw 35–40% of its retail slippages emerging from the unsecured loan portfolio. <keyword id="6376194" type="General" weightage="20" keywordseo="kotak-mahindra" source="Orion">Kotak Mahindra</keyword> Bank was also quick to follow Yes Bank’s suit, with around 35%-40% of its slippages coming from credit cards. <h2>How is the road ahead?</h2>While RBI has just cracked its whip and served a warning at the moment, experts at Morgan Stanley believe that more changes (read regulatory lashes) are underway. Moreover, with both festive and wedding seasons underway in our country, unsecured lending might pick up momentum, much to the disdain of the calibrated approach banks have been taking towards it so far. But if the situation doesn't improve, RBI will not waste any time in becoming the typical tyrannical <keyword id="19897820" type="General" weightage="20" keywordseo="bollywood" source="keywords">Bollywood</keyword> headmaster who runs his dominion with an iron fist. However, that's a story for another day. Do you have a topic in mind you'd want a simpler explanation for, or insights or personal experience to share on personal finance and more? Contact us at businessinsider@timesinternet.in.

Simply Put: Is the lending party over? The dangerous tango of Indian banks with microfinance and unsecured loans

In a landmark moment for <keyword id="19897820" type="General" weightage="20" keywordseo="Bollywood" source="keywords" meta.keywordsubtype="org" meta.entityname="Bollywood" meta.hostid="261" meta.entityid="Bollywood">Bollywood</keyword>, <keyword id="19993351" type="General" weightage="20" keywordseo="Shraddha-Kapoor" source="keywords">Shraddha Kapoor</keyword> and <keyword id="20089346" type="General" weightage="20" keywordseo="Rajkummar-Rao" source="keywords">Rajkummar Rao</keyword>’s horror-comedy <keyword id="20132930" type="General" weightage="100" keywordseo="Stree-2" source="keywords">Stree 2</keyword> has etched its name into the history books by becoming the <keyword id="22985993" type="General" weightage="20" keywordseo="highest-grossing-Hindi-film" source="keywords">highest-grossing Hindi film</keyword> ever. The film surpassed the lifetime earnings of Shah Rukh Khan’s <keyword id="19897076" type="General" weightage="20" keywordseo="Jawan" source="keywords">Jawan</keyword>, officially cementing its place at the top of the <keyword id="19895835" type="General" weightage="20" keywordseo="box-office" source="keywords">box office</keyword>. <h2>Record-breaking success</h2>Trade analyst <keyword id="20278358" type="General" weightage="20" keywordseo="Taran-Adarsh" source="keywords">Taran Adarsh</keyword> confirmed the news on his X (formerly Twitter) account, where he shared the staggering numbers that have propelled Stree 2 to this incredible milestone. The film, which is now in its fifth week of release, has accumulated an astounding Rs 586 crore in total box office collections across India. Adarsh’s post read: "Stree 2 scripts HISTORY… Becomes the HIGHEST-GROSSING HINDI FILM EVER… Crosses lifetime biz of #Jawan [#Hindi version]... Next stop: Inaugurating the ₹ 600 cr Club." The film’s daily earnings continue to impress. Over the weekend, Stree 2 earned Rs 3.60 crore on Friday, Rs 5.55 crore on Saturday, and Rs 6.85 crore on Sunday. Even during the weekdays, it showed remarkable consistency, pulling in Rs 3.17 crore on Monday and Rs 2.65 crore on Tuesday. <div type="Article" hostid="261" msid="112528273" title="Beyond Stree 2: Exploring the potential of Indian Cinematic Universes" mstype="2" mssubtype="0"></div>Despite stiff competition from Akshay Kumar’s <keyword id="20713953" type="General" weightage="20" keywordseo="Khel-Khel-Mein" source="keywords">Khel Khel Mein</keyword> and John Abraham’s Vedaa, Stree 2 maintained its grip on the box office, becoming a clear favourite among audiences. In its second week alone, the film earned an impressive Rs 453.60 crore, further solidifying its dominance. <h2>A sequel that surpassed expectations</h2>Directed by Amar Kaushik, Stree 2 builds on the foundation laid by its predecessor, Stree (2018), which was a surprise hit at the time. While the original film set high expectations for its sequel, Stree 2 has far exceeded them, drawing praise for its engaging storyline, witty humour, and strong performances by its ensemble cast. <div type="Article" hostid="261" msid="112890023" title="Baadshah of Bollywood Shah Rukh Khan debuts on India&amp;#39;s richest list with Rs 7,300 cr — here&amp;#39;s how the King made his wealth" mstype="2" mssubtype="0"></div>The film not only stars Shraddha Kapoor and Rajkummar Rao but also features standout performances from Pankaj Tripathi, Abhishek Banerjee, and Aparshakti Khurana. Special appearances by Bollywood stars Varun Dhawan and Akshay Kumar have also added to the film’s appeal, with their cameos being particularly well-received by fans. <h2>Eyeing the Rs 600 crore milestone</h2>As Stree 2 nears the coveted Rs 600 crore mark, the excitement around the film continues to build. Its success reaffirms the audience’s love for unique storytelling and genre-bending films that mix horror and comedy with social commentary. With its winning formula, Stree 2 has not only captured the box office but also secured a place in the hearts of fans across India. The journey of Stree 2 is far from over, and with the momentum it’s carrying, it may soon set even more box office records. As it stands today, the film’s legacy as the highest-grossing Hindi film ever is a testament to the power of innovative cinema and strong performances. (With inputs from ANI)

'Stree 2' takes the crown, surpasses 'Jawan' as highest-grossing Hindi film

Washington [US], July 11 (ANI): Nearly a month after its release on Friday, June 14, '<keyword id="20201788" type="General" weightage="100" keywordseo="Inside-Out-2" source="keywords">Inside Out 2</keyword>' has surpassed <keyword id="22072059" type="General" weightage="20" keywordseo="Incredibles-2" source="keywords">Incredibles 2</keyword> in revenue to become the <keyword id="20231440" type="General" weightage="20" keywordseo="highest-grossing-movie" source="keywords">highest-grossing movie</keyword> in <keyword id="20162406" type="General" weightage="20" keywordseo="Pixar" source="keywords" meta.keywordsubtype="org" meta.entityname="Pixar" meta.hostid="261" meta.entityid="Pixar">Pixar</keyword>'s history. As reported by Variety, Inside Out 2 has earned $1.25 billion globally, surpassing Incredibles 2's $1.24 billion record. This achievement makes it the fourth <keyword id="22368065" type="General" weightage="20" keywordseo="highest-grossing-animated-movie" source="Orion">highest-grossing animated movie</keyword> ever, trailing only Frozen ($1.29 billion), The Super Mario Bros. Movie ($1.36 billion), and Frozen II ($1.45 billion). The sequel quickly exceeded the overall gross of the original Inside Out, which made $859 million worldwide in 2015. The film's success was anticipated, as <keyword id="20509343" type="General" weightage="20" keywordseo="The-Walt-Disney-Company" source="keywords" meta.keywordsubtype="org" meta.entityname="The Walt Disney Company" meta.hostid="261" meta.entityid="The Walt Disney Company">The Walt Disney Company</keyword> had earlier announced that 'Inside Out 2' became the fastest animated film to reach $1 billion at the global box office, achieving this milestone in less than three weeks after its release. 'Inside Out 2' is now one of only 11 animated films to have crossed the $1 billion mark. It is also the first movie to achieve this feat since July 2023's 'Barbie.' The sequel follows 13-year-old Riley as she experiences new emotions during puberty and prepares for high school. Directed by Kelsey Mann, the film introduces new emotions like Anxiety, Envy, Embarrassment, Ennui, and Nostalgia, in addition to the original five: Joy, Sadness, Fear, Anger, and Disgust. Amy Poehler, who voices Joy, told PEOPLE that the first film was naturally set up for a sequel. "At the very end of the original, Joy has that great moment where she's like, 'Finally, everything the way it's supposed to be.' Then we see that big puberty button, 'Should we press this?' We do press it in the second movie," Poehler said in September 2022. She had been advocating for a sequel for years. "I've been bugging Pete Docter [the Chief Creative Officer of studio Pixar] and the team and just saying, 'When are you guys going to make another one? When's that happening?' When they told me their idea of how to approach the second one, I thought it was just genius," she told PEOPLE in June. Inside Out 2 is now playing in theatres.

'Inside Out 2' surpasses 'Incredibles 2' to become highest-grossing movie in Pixar's history

Simplifying economy: GDP to PPP — essential terms you need to know

The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the proposal for the 3rd batch of ascending <keyword id="22338892" type="General" weightage="20" keywordseo="e-auctions" source="keywords">e-auctions</keyword> for 730 <keyword id="22951451" type="General" weightage="100" keywordseo="FM-radio-channels" source="keywords">FM radio channels</keyword> in 234 new cities, with an estimated reserve price of Rs. 784.87 crore under the <keyword id="22950610" type="General" weightage="20" keywordseo="Private-FM-Radio" source="keywords">Private FM Radio</keyword> <keyword id="22657617" type="General" weightage="20" keywordseo="Phase-III-Policy" source="keywords">Phase III Policy</keyword>. According to the official statement, the Cabinet also approved a proposal to set the <keyword id="22951452" type="General" weightage="20" keywordseo="Annual-License-Fee" source="keywords">Annual License Fee</keyword> (ALF) for FM channels at 4 per cent of <keyword id="20406587" type="General" weightage="20" keywordseo="Gross-Revenue" source="keywords">Gross Revenue</keyword>, excluding Goods and Services Tax (GST). This will apply to the 234 new cities and towns. The expansion of Private FM Radio to these 234 new locations will address the existing demand for FM radio services in areas still uncovered by private broadcasters, providing access to new and local content in <keyword id="20520759" type="General" weightage="20" keywordseo="regional-languages" source="keywords">regional languages</keyword>. This initiative will create new <keyword id="19972727" type="General" weightage="20" keywordseo="employment-opportunities" source="keywords">employment opportunities</keyword>, promote local dialects and culture, and support the 'vocal for local' initiative. Many of the approved cities and towns are located in Aspirational districts and areas affected by Left-Wing Extremism (LWE). The introduction of Private FM Radio in these regions will further strengthen the Government's outreach efforts. The evolution of India's Private FM Radio Policy marked a shift from <keyword id="22951453" type="General" weightage="20" keywordseo="medium-wave" source="keywords">Medium Wave</keyword> (MW) broadcasting to Frequency Modulated (FM) waves, driven by a need to enhance the quality and variety of radio programming, improve broadcast standards, and modernize outdated equipment. The journey began with the approval of the FM Phase-I Policy in July 1999, which aimed to revitalize the radio industry by introducing open auctions for selecting successful bidders. However, the initial phase met with limited success, with only 21 channels becoming operational across 12 cities. Recognizing the need for a more robust framework, the government introduced the improved FM Phase-II Policy in July 2005, following recommendations from the Dr Amit Mitra Committee and the Telecom Regulatory Authority of India (TRAI). This policy was well-received by stakeholders and resulted in significant growth in the FM radio industry, creating new employment opportunities and expanding the reach of private FM radio. Despite this success, many cities, particularly those with populations below three lakh and border areas, remained outside the private FM radio network. The necessity for further expansion led to the introduction of the FM Phase-III Policy, which sought to address the unmet demand for FM radio in uncovered cities. This policy recognized the strategic importance of extending FM radio services to border areas, such as Jammu &amp; Kashmir, the North Eastern states, and island territories, where private broadcasters had been reluctant to enter due to concerns about viability. The policy also aimed to incentivise the development of FM radio in these regions to counter cross-border propaganda and ensure that Indian radio channels had a wider reach. Additionally, the Phase-III Policy acknowledged the presence of 97 vacant channels from Phase-II that could not be auctioned for various reasons and emphasized the need for better utilisation of the frequency spectrum allocated for FM broadcasting.

Cabinet approves Rs 784.87 cr e-auctions for 730 FM radio channels across 234 new cities

<keyword id="20805805" type="General" weightage="20" keywordseo="horror-comedy" source="keywords">Horror comedy</keyword> "<keyword id="20132930" type="General" weightage="20" keywordseo="Stree-2" source="keywords">Stree 2</keyword>", starring <keyword id="20089346" type="General" weightage="20" keywordseo="Rajkummar-Rao" source="keywords">Rajkummar Rao</keyword> and <keyword id="19993351" type="General" weightage="20" keywordseo="Shraddha-Kapoor" source="keywords">Shraddha Kapoor</keyword>, earned a whopping Rs 283 crore globally in gross <keyword id="19974572" type="General" weightage="20" keywordseo="box-office-collection" source="keywords">box office collection</keyword> in its opening weekend. According to production house <keyword id="20079737" type="General" weightage="20" keywordseo="Maddock-Films" source="keywords" meta.keywordsubtype="org" meta.entityname="Maddock Films" meta.hostid="261" meta.entityid="Maddock Films">Maddock Films</keyword>, the Hindi movie -- a sequel to 2018's "Stree" -- raised Rs Rs 240 crore (gross) in India and Rs 43 crore (gross) internationally. "Stree 2" collected Rs 204 crore in net box office collections in India, according to the banner's official X page. "The Box Office Juggernaut that's BREAKING and SHATTERING records! Thank you audience, for making it happen," the makers said in the post. Directed by <keyword id="20242160" type="General" weightage="20" keywordseo="Amar-Kaushik" source="keywords">Amar Kaushik</keyword>, "Stree 2" released in theatres on August 15 on the occasion of Independence Day. It also stars Abhishek Banerjee, Pankaj Tripathi, and Aparshakti Khurana. A direct sequel to "Stree", the new film follows Rao's Vicky and his friends along with the nameless mystery woman, played by Kapoor, face off against a new terror in the form of a ghost who only has a head, aptly called Sarkata. "Stree 2" is part of producer Dinesh Vijan's ambitious horror comedy universe that also includes titles like "Bhediya" and "Munjya". SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-launched-in-india-at-172999-but-you-cant-get-your-hands-on-it-right-now/articleshow/112517193.cms">Google Pixel 9 Pro Fold launched in India at ₹1,72,999, but you can’t get your hands on it right now</a> <a href="https://www.businessinsider.in/stock-market/news/ipo-scam-two-victims-from-hyderabad-lose-over-11crore-in-fake-ipo-scams/articleshow/112488051.cms">IPO scam – Two victims from Hyderabad lose over ₹11 crore in fake IPO scams</a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms">India’s wearables market decline for the first time as smartwatch shipments fall</a>

Stree 2 grosses ₹283 crore worldwide in first weekend

The 15 highest-grossing animated movies of all time

<ul class="summary-list"><li>Billionaire investor Bill Gross says the stock market's record-breaking run is set to slow.</li><li>He recommends that investors reposition toward defensive and high-yielding stocks.</li></ul>Though this year's record-beating stock rally <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-goldman-sachs-boosts-sp500-price-target-again-2024-10#:~:text=Goldman%20Sachs%20raised%20its%20S%26P,trends%20should%20boost%20earnings%20growth.">continues to impress</a> Wall Street, billionaire investor Bill Gross isn't so sure the bull market will maintain its hot pace for much longer.According to the so-called Bond King's latest <a target="_blank" href="https://williamhgross.com/investment-outlook-archive/">note</a>, investors should reposition toward defensive and higher-yielding stocks as momentum winds down. He also recommended low exposure to fixed income, having previously <a target="_blank" href="https://markets.businessinsider.com/news/bonds/bond-yeidls-bill-gross-rising-treasury-issuance-government-debt-deficits-2024-5">criticized current Treasury conditions.</a>"No bear market, but it's not the same bull market anymore," Gross said, adding that equities are set for "low buy positive" returns going forward.Gross also listed four of his favorite investments at present time:The first is <a target="_blank" href="https://markets.businessinsider.com/stocks/ale-stock">Allete</a>, an electric-service company that has risen 5% year-to-date. It's a buyout with 10% upside over the next 12 months, he said.Gross also touted multiple limited partnership pipelines, an investment he frequently emphasizes as a fruitful alternative to bonds. He cited that MLPs offer 8% tax-deferred yields. <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/bill-gross-investing-strategy-oil-gas-piplines-limited-partnerships-ai-2024-5">Back in May</a> he said that MLPs had been "almost as good as AI."On the theme of Treasury alternatives, Gross also cited <a target="_blank" href="https://markets.businessinsider.com/stocks/nly-stock">Annaly Capital Management</a>, a high-yielding mortgage REIT.He also sees <a target="_blank" href="https://markets.businessinsider.com/news/bonds/municipal-bonds-muni-recession-outlook-sahm-yield-curve-charles-schwab-2024-8">municipal income</a> funds as a worthwhile investment, as many have offered over 7% tax-free yields. Gross named the DWS Municipal Income Trust as one example but noted that there are between 20 and 30 others to choose from."7% may not last forever, but for now these funds trade at 6-8%," he said.Gross isn't going as far as to predict that the stock bull run is about to crash, only that a number of headwinds are around the corner. These range from extended valuations to an assortment of macroeconomic and geopolitical headwinds.Gross specifically cited higher corporate taxes under a Kamala Harris presidency, as well as stunted growth if military tensions keep escalating globally. Rising deficits — an issue the investor has <a target="_blank" href="https://markets.businessinsider.com/news/bonds/bill-gross-us-debt-crisis-deficit-inflation-federal-reserve-default-2024-2">repetitively warned against</a> — will eventually slow down spending.Gross also referred to the record cash pile held by legendary investor Warren Buffett, which some see as a <a target="_blank" href="https://markets.businessinsider.com/news/stocks/warren-buffett-record-cash-pile-stock-market-crash-signal-berkshire-2024-5">sign that the market could soon sell off sharply</a>. To Gross, it at least signals a "bumpy road ahead."His note also cited some positives to counter the listed headwinds, such as falling inflation and continued investment in artificial intelligence.

Billionaire 'Bond King' Bill Gross recommends 4 defensive investments for a bull market he sees losing steam

Top 10 countries with the highest GDP in 2024! See where India stands

If there is one word to aptly describe the ongoing 2024 Lok Sabha <keyword id="20515965" type="General" weightage="20" keywordseo="election-results" source="keywords">election results</keyword>, specifically for the incumbent party, it would be jolting, startling, and perhaps, even surprising. The exit polls were wide off the mark, and then some. Less than a week ago, India reported a remarkable <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> rate of 8.2% for the fiscal year 2023-24. Over the weekend, exit polls predicted a clear and easy majority for the ruling Bharatiya Janata Party (BJP) and its alliance NDA. Consequently, benchmark indexes, Sensex and <keyword id="6354813" type="General" weightage="20" keywordseo="Nifty" source="Orion">Nifty</keyword>, both zoomed more than 3 per cent on Monday, breaching the all-time high records. On Tuesday, the tides turned! Putting a harsh full stop on the ruling party’s “abki baar 400 paar” narrative, the electoral situation on Tuesday evening shows less than 300 seats to the NDA and over 230 seats to the opposing INDIA bloc. What’s even more concerning for the ruling party is its tally dropping from 303 in 2019 to less than 245 this year. Consequently, on Tuesday, Sensex witnessed the steepest drop in over four years since the pandemic, recording a drop of 4,389 to settle just over 72,000. Nifty also dipped by almost 6%, standing at 21,884 points. If the trends hold, the BJP will lack a clear, simple majority on its own for the next five years, even if it manages to form a government with its pre-poll allies. The question is, how stable the new government would be, what would be the overall impact of this verdict on India’s economy, and what’s the story behind the jitters exhibited by the markets on Tuesday? <cmsannotation type="cmsannotation" annotationid="India’s incredible economic growth story" comment="subhead" text="India’s incredible economic growth story">India’s incredible <keyword id="19900794" type="General" weightage="100" keywordseo="economic-growth" source="keywords">economic growth</keyword> story </cmsannotation>Perched to be the world’s 3rd largest economy by 2027, India’s current GDP value stands at $3.9 trillion. As per FM <keyword id="20200167" type="General" weightage="20" keywordseo="Nirmala-Seetharaman" source="keywords">Nirmala Seetharaman</keyword>, the Indian economy is anticipated to grow at a rate of close to 7% in FY25 and hit $7 trillion by 2030. The <keyword id="3530620" type="General" weightage="20" keywordseo="Gross-Value-Added" source="Orion">Gross Value Added</keyword> (GVA) data supports the optimistic outlook, with a growth rate of 7.2% in FY24 compared to 6.7% in FY23. And notably, this strong economic growth has come at a time when most of the major economies across the globe are grappling with a slowdown. While few expect India to maintain a robust growth of 8.2%, most economists agree that GDP growth could moderate to around 7% in FY25. But most of these growth forecasts are contingent on a stable government and policy reforms at the centre. So, does the sharp fall in benchmark indices on Tuesday foretell a twist in India’s growth story? <cmsannotation type="cmsannotation" annotationid="Is there a twist in the tale?" comment="subhead" text="Is there a twist in the tale?">Is there a twist in the tale? </cmsannotation>Firstly, the <keyword id="16791710" type="General" weightage="20" keywordseo="foreign-portfolio-inflows" source="Orion">foreign portfolio inflows</keyword> (FPI), indicative of the global confidence reposed in the Indian markets, have been on a consistent decline over the past 3 months. As of 4th June 2024, foreign institutional investors had withdrawn a total of Rs 14,339 crores from the Indian equity markets while investing Rs 55,273 crores in debt instruments, which are traditionally reflective of safety, security, and a low-risk and change appetite. Foreign institutional investors had also withdrawn Rs 25,586 crores during May 2024, and Rs 8,671 crores during April 2024. If anything, the Indian market stands atop the strong confidence of domestic investors. The AUM (assets under management) of the Indian mutual fund industry stood at a record high of around $57 lakh crores in April 2024, even as the SIP AUM hit a record high of Rs 11.26 lakh crore. "The steep fall is due to the results so far falling short of the exit polls which the market had discounted yesterday. If BJP doesn't get a majority on its own there will be disappointment and this is getting reflected in the market. Also it is possible that Modi 3.O may not be as reform-oriented as the market expected and may turn more welfare- oriented," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. <cmsannotation type="cmsannotation" annotationid="Cautiously optimistic investors could prevail" comment="subhead" text="Cautiously optimistic investors could prevail">Cautiously optimistic investors could prevail </cmsannotation>But does this mean India’s growth story stands threatened or even jeopardized? Even though social media is flooded with memes that might lead one to believe it is all over for India’s story, the country remains the fastest growing economy amongst all G-20 nations in 2024, compelling almost all rating agencies to positively hike the country’s potential growth rate. But, equally noticeable is the fact that India’s private consumption, a major indicator of the economy’s growth, jumped by only 3.5% over the last 3 months of 2024. India now makes up 6.7% of the world’s GDP by purchasing power parity (PPP). As figures go, India is set to become a $10 trillion economy by 2030. Veteran investors like Raamdeo Agrawal, who heads Motilal Oswal Financial Services, believe that India’s potential growth rate of 8-8.5% is not going anywhere and that NDA’s leadership is here to stay. In his words, if an investor has managed to make 4-5x in the last 3-4 years, one will have to give in 20-30%. But that is where you will have to persist as an investor. "With the NDA still looking to form a government, though with the important support of coalition partners, markets look jittery about the prospects of strong decision making. Markets believe that the reformistic approach, which was a hallmark of the previous two terms, might take a backseat in the third term. However, our sense is that it is still early to jump to conclusions and should ideally wait for a clearer picture," said Manish Chowdhury, Head of Research, StoxBox. But all in all, the NDA government is most likely to stay for the full term, and those who bet on the same stand to stay safe despite the surprisingly strong performance of the INDIA alliance. However, in the end, the only one who wins in the market stays put in the market in the long run. Because NDA, or INDIA, compounding is here to stay, all set to immensely benefit long-term investors. (With inputs ANI)

Economic implications of Lok Sabha Election 2024 results: Would lack of a clear majority for BJP impact India’s growth story?

<ul class="summary-list"><li>"Hellboy: The Crooked Man" is the character's latest reboot.</li><li>The movie features a horrifying moment where a raccoon crawls inside a human's empty skin.</li></ul>"<a target="_blank" class="" href="https://www.businessinsider.com/hellboy-the-crooked-man-new-movie-release-date-marketing-why-2024-9">Hellboy: The Crooked Man</a>" faithfully adapts the comic of the same name by Mike Mignola and Richard Corben, complete with a disgusting skin suit scene.Director Brian Taylor told Business Insider that he used "a lot of rubber and a lot of lube" to get it right.The film stars <a target="_blank" class="" href="https://www.businessinsider.com/every-hellboy-movie-ranked-worst-best-the-crooked-man-2024-9">Jack Kesy as Hellboy</a>, who investigates a community of witches in the Appalachian mountains in 1959 when he comes across a ghostly entity called the Crooked Man (Martin Bassindale).It's the second time Millennium Media has danced with Hellboy, after <a target="_blank" class="" href="https://www.businessinsider.com/why-hellboy-movie-was-flop-at-the-box-office-analysis-2019-4">2019's "Hellboy"</a> starring David Harbour. But it was a critical failure and only earned $55 million against a $50 million budget, according to <a target="_blank" href="https://www.boxofficemojo.com/title/tt2274648/">Box Office Mojo</a>.The reboot's most memorable scene is ripped right from the pages of the original story, as Hellboy stumbles onto the complete, empty skin of a human body. It belongs to a young witch named Cora Fisher (Hannah Margetson), and soon after Hellboy finds it, a raccoon scrambles through a window and climbs inside the skin.It's revealed that Fisher used her powers to transform into a raccoon and is then forced to endure a bone-crunchingly painful process to regain her body.When speaking to BI ahead of the film's release, director Brian Taylor explained that the raccoon is the only CGI element in the sequence — which was released online in full in August."So, obviously it's not a real raccoon, but with the exception of the raccoon, there's no CG enhancement whatsoever. Because when you read that in the comic book, it's one of those things where it's in the script and I know it's going to be a great moment… But you read it and you go, 'Okay, this is going to be a really bad CG scene.'" he explained."Or, we can try to build it so it becomes, 'Let's just do this Clive Barker style. Let's do it with a lot of rubber, and a lot of lube, and some really great performers,'" Taylor continued, referring to movies like "<a target="_blank" class="" href="https://www.businessinsider.com/hellraiser-movies-ranked-worst-to-best-pinhead">Hellraiser</a>" and "Nightbreed.""Even I, having gone through this edit a thousand times, shot by shot, can't spot the handoff. I can't spot the handoff where it turns from a physical effect to an actor. It's so seamless and there's no CG whatsoever. It's just performance and a lot of latex," he added.The director also praised Margetson, saying: "At a certain point, the prosthetic, and the rubber, and the lube, and everything becomes a real person, which is Hannah Margetson, who's an incredible actor and just an out of this world physical performer."The reliance on practical effects is a far cry from 2019's "Hellboy," which used heavy CGI for its over-the-top action scenes.Instead, "Hellboy: The Crooked Man" takes a welcome, back-to-basics approach and leans closer to the horror genre than action and fantasy.Icon Film Distribution presents "Hellboy: The Crooked Man" in UK cinemas from 27 September.

'Hellboy: The Crooked Man' has a gross transformation scene. It took 'a lot of rubber and a lot of lube' to make it work, the director said.

Gross Goods and Services Tax (<keyword id="19951327" type="General" weightage="100" keywordseo="gst" source="keywords">GST</keyword>) collections surged to a <keyword id="19953076" type="General" weightage="20" keywordseo="record-high" source="keywords">record high</keyword> of Rs 2.10 lakh crore in the month of April. The GST collection has also registered a 12.4 per cent year-on-year growth. According to a statement by the <keyword id="19908390" type="General" weightage="20" keywordseo="Ministry-of-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Ministry of Finance" meta.hostid="261" meta.entityid="Ministry of Finance">Ministry of Finance</keyword>, the growth was propelled by a robust uptick in both <keyword id="20791652" type="General" weightage="20" keywordseo="domestic-transactions" source="keywords">domestic transactions</keyword>, which rose by 13.4 per cent, and <keyword id="19933566" type="General" weightage="20" keywordseo="imports" source="keywords">imports</keyword>, witnessing an 8.3 per cent spike. After accounting for refunds, the net GST revenue for April 2024 stood at Rs 1.92 lakh crore, showcasing an impressive 17.1 per cent growth compared to the corresponding period last year. The breakdown of April 2024 collections reveals positive performance across various components. Central Goods and Services Tax (<keyword id="20793046" type="General" weightage="20" keywordseo="CGST" source="keywords">CGST</keyword>) recorded collections of Rs 43,846 crore, while State Goods and Services Tax (<keyword id="20025648" type="General" weightage="20" keywordseo="SGST" source="keywords">SGST</keyword>) collections amounted to Rs 53,538 crore. Integrated Goods and Services Tax (<keyword id="20025649" type="General" weightage="20" keywordseo="IGST" source="keywords">IGST</keyword>) collections totaled Rs 99,623 crore, including Rs 37,826 crore collected on imported goods. Additionally, cess collections reached Rs 13,260 crore, which included Rs 1,008 crore collected on imported goods. Furthermore, the inter-governmental settlement process saw the central government disbursing Rs 50,307 crore to CGST and Rs 41,600 crore to SGST from the IGST collected. This resulted in total revenue of Rs 94,153 crore for CGST and Rs 95,138 crore for SGST for April 2024 after regular settlement. During the financial year 2023-24 the total gross GST collection recorded at Rs 20.18 lakh crore, exceeding Rs 20 lakh crore with a 11.7 per cent increase compared to the previous fiscal year. The average monthly collection for this fiscal year, that ended in March 2024 stood at Rs 1.68 lakh crore, surpassing the previous year's average of Rs 1.5 lakh crore. The surge in recent GST collections reflects a positive trajectory for India's economy, underscoring robust domestic consumption and buoyant import activity. The figures bode well for the country's fiscal health and economic recovery efforts, signaling resilience amidst global uncertainties. The Goods and Services Tax was introduced in the country with effect from July 1, 2017, and states were assured compensation for loss of any revenue arising on account of the implementation of GST as per the provisions of the GST (Compensation to States) Act, 2017 for a period of five years. (ANI)

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