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Economy
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what may be the movement of Nifty index from 25 Aug to @8 Aug 2008? Upwards or downwards and how much?...
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Chairman of the US Federal Reserve Ben Bernanke said, the outlook for inflation is highly uncertain. He said, “A soft economy and a jump in inflation creates a challenging environment.” Growth is likely to fall short of potential for some time, he said. The recent decline in commodity prices and a decline in the dollar is encouraging.
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What may be scenerio in Indian Economy. Taking global clues in consideration....
In reply to:
Outlook on inflation highly uncertain: Bernanke
Posted by :
MMB Messenger
Chairman of the US Federal Reserve Ben Bernanke said, the outlook for inflation is highly uncertain. He said, “A soft economy and a jump in inflation creates a challenging environment.” Growth is likely to fall short of potential for some time, he said. The recent decline in commodity prices and a decline in the dollar is encouraging.
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Very true said Sir!! Acute example.
All banks have huge unaccounted money. Nobody knows, where all this money goes?...
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More pain for banks: Loan waiver burden rises
Posted by : Leave it.
Would this commentator express her views over the unclaimed ,interest-unpaid-deposit amounts of various nature, lying in the bank\
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I am trying to recollect those matter that are cut.
Please bear with the inconvenience.
... It took more than three months to get back that debit. In the current budget all tax payers are given an increase of Rs.50000 in tax-free income tax limit. Every individual is getting petrol, LPG Gas cylinders at the subsidised price. Nearly ten thousand rupees is give as subsidy for a family even before the farmer's loan waiver scheme. How many industrial undertakings pay/paid their loan and interest? Was there any cry against it? How many companies declare dividends and pay it in time. Even AGMs are not called for since they declared dividend four months back. Have you raised the voice against such delay, though they may be with in the company law.
To confine to the point on hand, let us not make an issue for the loan waiver scheme. Banks have hidden wealth. From the missing SB/RD pass books, which you were seeing heaped in a corner of the counter, you can gauge, how they disappeared with the value involved.
So nothing is lost. It was a social obligation for the Govt. to save the farmers. Perhaps,can also be viewed as an attempt to catch votes too.If that is the line of argument, all the beneficiaries are not sure to cast the votes to the particular party to come back to powe.
I have my own view over the loan waiver scheme as above. I am happy to see that they are also treated like anybody.
If you agree, I will not disagree.
V.Krishnamoorthy
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In reply to:
More pain for banks: Loan waiver burden rises
Posted by : Leave it.
I do not know how a portion of the post is cut. This is frequently experienced by me.If the limit is over, there must be some signal. That is not made available. I am also not able to take a review and take a copy before submitting it. The MBB should do some thing.
V.Krishnamoorthy
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I do not know how a portion of the post is cut. This is frequently experienced by me.If the limit is over, there must be some signal. That is not made available. I am also not able to take a review and take a copy before submitting it. The MBB should do some thing.
V.Krishnamoorthy...
In reply to:
More pain for banks: Loan waiver burden rises
Posted by : Leave it.
Would this commentator express her views over the unclaimed ,interest-unpaid-deposit amounts of various nature, lying in the bank\\\\`s accounts for more than 40 years? Have any of them made arragements to make the payments to the depositors? In 2002 I helped a watch man to claim his deceased father\\\\`s money,of Rs.16000 from Indian Bank ,Pondicherry. Even many educated employees, are having their in-operative accounts which they have left as it is ,on transfer and even now they are not able to get it for want of their own folly,for they are unable to quote their account numbers.
Few years back you can see many banks, keeping the unclaimed SB/RD pass books heaped in a tray on a corner of the counter. Now many banks have simply removed them, tobe seen nowhere.
A year ago I closed my special savings bank account with Bank of Baroda, Madurai-2 as they were not maintaining my account as per their own rules and lines. For every mistake I point out such as, non credit of quarterly interest, double credits of interest for the same period, wrong debit of service charges, (for issue of the cheque book for the first time itself, when there is a minimum balance of Rs.5000.), I closed the account after three years. They did not return the passbook. Fortunately I demanded it on the next day morning and they took it from the dustbin. To my suprise, I noted a debit of Rs.1128.00 as service charges under this Spl. S.B.account \\\\\\\\
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Would this commentator express her views over the unclaimed ,interest-unpaid-deposit amounts of various nature, lying in the bank\\\\`s accounts for more than 40 years? Have any of them made arragements to make the payments to the depositors? In 2002 I helped a watch man to claim his deceased father\\\\`s money,of Rs.16000 from Indian Bank ,Pondicherry. Even many educated employees, are having their in-operative accounts which they have left as it is ,on transfer and even now they are not able to get it for want of their own folly,for they are unable to quote their account numbers.
Few years back you can see many banks, keeping the unclaimed SB/RD pass books heaped in a tray on a corner of the counter. Now many banks have simply removed them, tobe seen nowhere.
A year ago I closed my special savings bank account with Bank of Baroda, Madurai-2 as they were not maintaining my account as per their own rules and lines. For every mistake I point out such as, non credit of quarterly interest, double credits of interest for the same period, wrong debit of service charges, (for issue of the cheque book for the first time itself, when there is a minimum balance of Rs.5000.), I closed the account after three years. They did not return the passbook. Fortunately I demanded it on the next day morning and they took it from the dustbin. To my suprise, I noted a debit of Rs.1128.00 as service charges under this Spl. S.B.account \\\\\\\\...
In reply to:
More pain for banks: Loan waiver burden rises
Posted by : MMB Messenger
As per the farmers’ loan waiver scheme, the Government is to repay the loans of small and marginal farmers up to February 28, 2009. The banks are to bear the burden of the interest accrued. The interest accrued from March 1 to June 30 is Rs 7,500 crore. This amount of Rs 7,500 crore includes the penal charges on farmers.
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As per the farmers’ loan waiver scheme, the Government is to repay the loans of small and marginal farmers up to February 28, 2009. The banks are to bear the burden of the interest accrued. The interest accrued from March 1 to June 30 is Rs 7,500 crore. This amount of Rs 7,500 crore includes the penal charges on farmers.
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A Prasanna, Chief Economist, ICICI Securities feels headline inflation should peak at around 13% levels ....
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Crude still not out of woods. Forget RBI now FED & other central banks also could act crude specific. Speculative tendencies in crude would result in erosion of wealth of even large fund houses & thereby writedowns. So, fundamentally speaking crude will correct due to low & lower demand from China & also Japan, Higher supply due to more oil drilling & explorations. Also, cost effective feasiblity of unexplored crude reserves which are 1.3-1.6 trillion barrels in total. ...
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Costlier food items, such as fruits, vegetables and milk, pushed the wholesale price-based inflation to 12.63% for the week-ended August 9, from 12.44% in the previous week. The inflation stood at 4.24% in the corresponding week of the previous year. -ET
While Masur prices rose 3%, tea, moong and gram prices increased 2% and milk was up 1% over the last week. Overall index for primary food articles, which has weightage of 22.02% in the WPI, rose by 0.3% in the week ended August 9. Inflation stood at 12.44% (provisional) a week ago. Also, in keeping with the trend of final inflation coming higher than provision estimate, inflation for the week ended June 14, 2008 has been revised to 11.80% from 11.42%.
Economists feel inflation could go up to 13.5% before it starts to come down.
With the rising inflation an interest rate hike of 25 basis points is not being ruled out in the October monetary policy review. Experts feel that the task of striking a balance between rising inflation and growth had got much tougher for the central bank.
\"Prices of essential commodities, which include food grains, pulses, edible oils, vegetables, dairy products, kerosene, soap and safety matches, have more or less stabilised,\" a finance ministry statement said. It said that in the case of the primary articles group, the annual point-to-point inflation increased to 11.83% as compared to 11.43 % reported last week.
\"However, out of 98 articles, 17 articles have shown a decline in prices as compared to August 2, 2008. These included rice, maize, urad and arhar, sunflower, linseed and niger seed, raw rubber, cotton, potatoes, eggs, dry chillies and eggs. Another 56 articles have shown no increase in prices,\" it said.
\"Inflation may have peaked. There is some softening in commodity prices. Rice and wheat production is expected to be good although pulses may see some pressure. A possibility of rate hike by 25 bps is not ruled out. But, now the task of balancing between inflation and growth will be tough...,\" CRISIL principal economist D K Joshi said.
Index of manufactured products, which has the highest weight of 63.75% in WPI, rose by 0.2% during the week on account of higher prices of some edible oils, textiles items, paper and rubber items. The index for manufactured food products group rose by 0.1% due to higher prices of khandsari and rape & mustard oil, which were up by 1% each.
Prices of other edible oils, however, declined. The textiles sector, however, continues to see rapid increase. Rise in prices of cotton yarn-cones by 8%, polyester staple fibre by 7%, mixed fabrics and cotton grey cloth & canvas by 6% each, other cotton yarn by 5% fuelled a rise in index for textiles group, which rose 1.6% in the week under review. Higher prices of PVC fitting & accessories, which were up by 13%, as also cement contributed to the rise in prices of manufactured products.
HDFC Bank chief economist Abheek Barua feels the inflation peak may be in sight.
\"The rise in inflation was in line with expectation. It may rise further on account of the base effect and then come down. However, some surprises because of the failure in catching data on time could play the spoil sport. Further, monetary tightening is not completely ruled out but when globally central banks are going in for expansionary stance, it would be difficult to go in for contradictory policy now,\" he says.
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Countdown begins at Beijing Olympics. hardly. some 60 hours remaining for closing ceremony.
This rally in crude is short & sweet enabling opportunity for stuck investors to have profit booking & move out of it.
Fundamentals for crude havent changed but sudden drop in demand from china might cause huge pressure on crude. So there wasnt any reason for this recent rally, it just moved because of speculation again enabling to get little bit higher price & thereby exit....
In reply to:
Crude inches up $5/bbl to $121.44/bbl
Posted by : MMB Messenger
Crude has inched higher by five dollars. In after hours trading crude is at 121.44/bbl.
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Crude has inched higher by five dollars. In after hours trading crude is at 121.44/bbl.
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At a time when the US and European economies are spiralling down, the Indian economy in general is looking up, despite the current slowdown. Not surprisingly the NRI is investing in various sectors, including real estate. Several real estate projects across India have garnered approximately 10-20% participation from NRIs.
The return on investment provided by Indian real estate has been found to be more attractive than that offered by developed nations. Also the simplified process of investment has reversed the equation and many NRIs have been consistently investing in properties.
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he dollar slipped on Thursday as oil prices rose past 9, even after the number of Americans filing for unemployment benefits dropped.
The 15-nation currency rose to .4830 in early morning trading in New York from .4768 late Wednesday.
Light, sweet crude prices rose above 9 a barrel in electronic trading on the New York Mercantile Exchange on Thursday morning.
Investors often use oil as a hedge against a falling dollar and rising inflation. The prices of crude futures and the dollar have tended to move in opposite directions.
The Labor Department said Thursday that the number of workers filing for unemployment benefits dropped by 13,000 to 432,000, more than expected. But the four-week moving average, which grew to 445,750, is at its highest level in almost seven years.
\\`Profit-taking off recent gains and the fact commodity prices are edging higher once more is ensuring that the dollar retreats further from the highs it saw earlier in the week,\\` said James Hughes, a currency analyst with CMC Markets.
In other trading, the British pound rose to .8705 Thursday morning from .8615, while the dollar slid to 108.25 Japanese yen from 109.79 yen late Wednesday in New York. ...
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