Naptapgo secures INR 2 crore funding in Pre-Seed round, Hospitality News, ET HospitalityWorld
ET Hospitality
2 min read
Naptapgo secures INR 2 crore funding in Pre-Seed round
The funds from Inflection Point Ventures will be used for franchise development, marketing, technology upgrades, and enhancing central operations to drive growth and customer experience.
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Economic Times
an hour ago
- Economic Times
RBI's 50 bps rate cut sparks short-term bond rally, long-term yields stay subdued. What's ahead?
India's short-term government bonds rallied after the RBI's surprise 50 bps rate cut, while long-term yields remained largely stable. The central bank's dovish tilt and liquidity infusion via a cumulative 100 bps CRR cut added to the positive momentum. Experts expect monetary transmission to improve, with shorter-end yields benefiting the most amid a data-dependent policy outlook. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India's short-term government bonds rose on Friday, buoyed by the central bank's monetary policy announcements, including a larger-than-expected 50 basis point rate cut, which were viewed as particularly supportive for the shorter end of the yield curve. In contrast, the more liquid long-term bonds remained largely yield on India's benchmark 10-year government bond rose to 6.2200% around 1:25 pm on Friday, up from 6.1960% at Thursday's five-year 6.75% 2029 bond yield was at 5.8100%, after ending at 5.8514%. Bond yields were volatile after the RBI RBI lowered its key repo rate to 5.50%, marking its third consecutive cut, as subdued inflation gave policymakers room to shift their focus toward boosting economic central bank has lowered rates by a total of 100 basis points in 2025 so far, beginning with a 25 basis point cut in February. Additionally, the Central Bank reduced the CRR by a cumulative 100 bps in four equal tranches, adding almost INR 2.5 Lakh crore to banking system liquidity.'Larger than expected move on the Repo Rate, offset by the hardening of the policy stance, may be seen as a front-loading of future policy action. CRR, on the other hand, is a surprise for the market,' noted Churchil Bhatt, Executive Vice President - Investment at Kotak Mahindra Life Insurance has also moved its full-year inflation forecast lower to 3.7% from 4.0% while affirming its confidence in a robust growth trajectory.'Overall, we expect moderate steepening of the Government Bond yield curve, with shorter-end yields and spread assets benefitting from the surprise liquidity bonanza,' Bhatt believes that these policy actions will also accelerate monetary transmission, resulting in lower bank lending rates. Going forward, he expects to see a data-dependent approach to RBI, with most of the heavy lifting behind yields and RBI interest rates have an inverse relationship, meaning when the RBI cuts interest rates (like the 50 basis point repo rate cut in this case), bond yields, particularly on shorter-duration government bonds, typically is because new bonds will offer lower returns, making existing higher-yielding bonds more attractive, thereby driving up their prices and pushing yields down. Short-term yields are more directly influenced by such rate cuts and tend to respond read: RBI's bazooka sends Sensex, Nifty soaring. What does it mean for stock market investors However, long-term yields, like the 10-year benchmark, are typically shaped by broader factors such as inflation expectations, fiscal outlook, and economic growth.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
an hour ago
- Time of India
RBI's 50 bps rate cut sparks short-term bond rally, long-term yields stay subdued. What's ahead?
India's short-term government bonds rose on Friday, buoyed by the central bank's monetary policy announcements, including a larger-than-expected 50 basis point rate cut, which were viewed as particularly supportive for the shorter end of the yield curve. In contrast, the more liquid long-term bonds remained largely muted. The yield on India's benchmark 10-year government bond rose to 6.2200% around 1:25 pm on Friday, up from 6.1960% at Thursday's close. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo The five-year 6.75% 2029 bond yield was at 5.8100%, after ending at 5.8514%. Bond yields were volatile after the RBI announcement. Bonds Corner Powered By RBI's 50 bps rate cut sparks short-term bond rally, long-term yields stay subdued. What's ahead? India's short-term government bonds rallied after the RBI's surprise 50 bps rate cut, while long-term yields remained largely stable. The central bank's dovish tilt and liquidity infusion via a cumulative 100 bps CRR cut added to the positive momentum. Experts expect monetary transmission to improve, with shorter-end yields benefiting the most amid a data-dependent policy outlook. RBI accepts 95% of bond buyback ahead of monetary policy review India plans increased bond buybacks and switches to secure sovereign rating upgrades India bond traders suggest borrowing tweak to bring down long-term yields, sources say India's favoured 5-year bond trade loses steam with rate cuts priced in, fund managers say Browse all Bonds News with The RBI lowered its key repo rate to 5.50%, marking its third consecutive cut, as subdued inflation gave policymakers room to shift their focus toward boosting economic growth. The central bank has lowered rates by a total of 100 basis points in 2025 so far, beginning with a 25 basis point cut in February. Additionally, the Central Bank reduced the CRR by a cumulative 100 bps in four equal tranches, adding almost INR 2.5 Lakh crore to banking system liquidity. Live Events 'Larger than expected move on the Repo Rate, offset by the hardening of the policy stance, may be seen as a front-loading of future policy action. CRR, on the other hand, is a surprise for the market,' noted Churchil Bhatt, Executive Vice President - Investment at Kotak Mahindra Life Insurance Company. RBI has also moved its full-year inflation forecast lower to 3.7% from 4.0% while affirming its confidence in a robust growth trajectory. 'Overall, we expect moderate steepening of the Government Bond yield curve, with shorter-end yields and spread assets benefitting from the surprise liquidity bonanza,' Bhatt added. He believes that these policy actions will also accelerate monetary transmission, resulting in lower bank lending rates. Going forward, he expects to see a data-dependent approach to RBI, with most of the heavy lifting behind us. Bond yields and RBI interest rates have an inverse relationship, meaning when the RBI cuts interest rates (like the 50 basis point repo rate cut in this case), bond yields, particularly on shorter-duration government bonds, typically fall. This is because new bonds will offer lower returns, making existing higher-yielding bonds more attractive, thereby driving up their prices and pushing yields down. Short-term yields are more directly influenced by such rate cuts and tend to respond quickly. Also read: RBI's bazooka sends Sensex, Nifty soaring. What does it mean for stock market investors However, long-term yields, like the 10-year benchmark, are typically shaped by broader factors such as inflation expectations, fiscal outlook, and economic growth.
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Business Standard
2 hours ago
- Business Standard
RBI delivers a jumbo surprise; more reasons for INR to underperform: Nomura
Nomura on RBI rate cut: Policy repo rate was cut by 50bp to 5.50 per cent, against consensus and our expectations of a 25bp cut. The governor described this as a frontloaded rate cut, which was made possible by the durable alignment of inflation with the target. The policy stance was changed to 'neutral' from 'accommodative', another surprise, to signal that, with 100bp of cumulative cuts already delivered, 'monetary policy is left with very limited space to support growth'. Additionally, even though banking system liquidity is already in surplus, the RBI surprised by cutting the cash reserve ratio by 100bp to 3.00 per cent, which will be made effective in a staggered manner and will release ₹2.5 trillion in liquidity. On its macro forecasts, the RBI retained its GDP growth forecast at 6.5 per cent y-o-y in FY26, as expected, and lowered its CPI inflation forecast to 3.7 per cent (from 4.0 per cent), largely as expected, acknowledging that inflation will undershoot its 4 per cent target this year. Today's policy decision constitutes a major surprise. The RBI's MPC had just changed its stance to 'accommodative' at the April meeting, so a flip back to 'neutral' soon suggests more nimble decision making. The combination of a 50bp cut, a shift in stance to neutral and the CRR cut signals that the RBI's MPC believes the existing space for policy easing has been largely exhausted, and they will be in a wait-and-watch stance now, with policy transmission the key objective. This suggests that, unless there are major economic surprises, the RBI will be on hold in August and beyond. ALSO READ | However, the policy outlook will depend on the macro outlook. We see downside risks to the RBI's GDP growth and CPI inflation outlooks. On our forecasts, GDP growth is likely to surprise lower at 6.2 per cent (RBI: 6.5 per cent), while CPI inflation is tracking even lower at 3.3 per cent (RBI has now revised to 3.7 per cent). Therefore, we do not view today's action as the end of the easing cycle. We continue to see the terminal rates at 5.00 per cent, with a likely pause in August, followed by 25bp rate cut in each of October and December. The RBI surprised with a 50bp rate cut and a 100bp CRR cut, which initially led to a weaker INR. However, with the signal from RBI that this move was frontloading and as the RBI also changed its monetary policy stance to 'neutral', this led spot USD/INR back down to be largely unchanged. Given our economics team's views of continued downside growth challenges ahead and further RBI rate cuts, we see limited support for INR from a macro perspective. Overall, we still expect INR to underperform, and today's actions and the policy/macro outlook do not change this view. We remain long EUR/INR (conviction level: 3/5), given the softer USD outlook as well as the recent, relatively hawkish surprise from the ECB (5 June ECB meeting). Locally, we believe the RBI will continue to accumulate USD, with the recent evidence from the April FX forward book and FX reserve developments. ALSO READ | On liquidity, the RBI noted how it wants to provide sufficient system liquidity, given transmission has been slow. It surprised with a 100bp cut to the CRR rate, which will inject ₹2.6 trillion into the system in a staggered approach. Considering this staggered approach (effectively monthly starting from 6 September), the RBI is likely done for now on OMOs and other liquidity measures. We still expect more measures in H2 of the financial year, but further action seems unlikely in the near term. On strategy, we maintain our positive stance on India rates. We increase our conviction level back to 4/5 on long 5y IGBs (6.75 29s, current 5.76 per cent), targeting a move down to 5.50 per cent (was 5.75 per cent). The CRR cut and the recent bond buyback further skews the SLR supply / demand equation in favour of lower yields, especially as the government also continues to switch short-dated paper for longer-dated. We expect the IGB curve to steepen.
