Higher commodity prices have been one of the key reasons for earnings buoyancy over the last two years. In FY22, the global rally in commodity prices alone accounted for 50% of incremental Nifty earnings growth. Analysts said further downgrades would weigh down markets that are already trading at premium valuations.
RBI eases restrictions on cash credit accounts, eases current account norms
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.