IDFC

Annual Reports

Message from the Chairman: Annual Report 2016-17

The global and local macroeconomic environment saw significant events in FY17. Events such as BREXIT and President Trump’s election created an impact on global economic activity. In India the demonetisation of 1,000 and 500 denomination currency notes, was a key initiative by the Government. Though this caused inconvenience and distress to many people, the general public accepted it stoically and even seemed to support the announcement. While it was claimed that demonetisation had slowed down growth, it needs to be acknowledged that growth had begun to decelerate in the first two quarters of FY17. The Central Statistical Organisation ("CSO") has put the advance estimate for real Gross Value Added growth in FY17 at 6.7%. This is lower than 7.8% achieved in FY16. The trajectory of headline CPI inflation remained southbound for most part of FY17.

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2016-17 Annual Report

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IDFC - Subsidiary Annual Report 2016 - 2017

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