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Economy
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The following is the text of Finance Minister P Chidambaram’s statement on the CRR cut. ...
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So much talk about banking regulations in India. Then how Global trust bank gone bust. Dont believe the words of these bureaucrats and politicians.Cash is king till things settle down....
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Aug IIP at 1.3% versus 10.9% YoY
Posted by :
MMB Messenger
August IIP numbers seen at 1.3% versus 10.9% YoY. Manufacturing growth for August is seen at 1.1% versus 10.7% (YoY), and the consumer durables growth came in at 5.1% against 6.2%. 
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The Finance Minister should resign. He is giving false assurance to people of his country. He has diminished the credibility of his chair....
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Aug IIP at 1.3% versus 10.9% YoY
Posted by : MMB Messenger
August IIP numbers seen at 1.3% versus 10.9% YoY. Manufacturing growth for August is seen at 1.1% versus 10.7% (YoY), and the consumer durables growth came in at 5.1% against 6.2%.
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It is quite sure that RBI\...
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RBI cuts CRR by 150 bps
Posted by : MMB Messenger
The Reserve Bank of India has cut 150 basis points to 7.5% with effect from tomorrow in a bid to infuse liquidity into the markets.
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The Indian Finance Minister is a liar. He should resign for giving false assurances to people of India. He has diminished the credibility of his chair....
In reply to:
Aug IIP at 1.3% versus 10.9% YoY
Posted by : MMB Messenger
August IIP numbers seen at 1.3% versus 10.9% YoY. Manufacturing growth for August is seen at 1.1% versus 10.7% (YoY), and the consumer durables growth came in at 5.1% against 6.2%.
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i humble request to finance minister please suspend the future trading of currency with immdiate effect as its affect the importers alot.really, its hard to survive
ishu bansal ...
In reply to:
RBI cuts CRR by 150 bps
Posted by : MMB Messenger
The Reserve Bank of India has cut 150 basis points to 7.5% with effect from tomorrow in a bid to infuse liquidity into the markets.
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The August IIP Number proves the lies told by the Indian Finance Minister. He has done a big dis-service to the Indian public. He should resign. His Swiss bank accounts should be probed....
In reply to:
Aug IIP at 1.3% versus 10.9% YoY
Posted by : MMB Messenger
August IIP numbers seen at 1.3% versus 10.9% YoY. Manufacturing growth for August is seen at 1.1% versus 10.7% (YoY), and the consumer durables growth came in at 5.1% against 6.2%.
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I think these IIP numbers are due to high interest rates & steep rise in interest rates by RBI. Its like IIP numbers are invited by RBI & it was on the guest\...
In reply to:
Aug IIP at 1.3% versus 10.9% YoY
Posted by : MMB Messenger
August IIP numbers seen at 1.3% versus 10.9% YoY. Manufacturing growth for August is seen at 1.1% versus 10.7% (YoY), and the consumer durables growth came in at 5.1% against 6.2%.
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August IIP numbers seen at 1.3% versus 10.9% YoY. Manufacturing growth for August is seen at 1.1% versus 10.7% (YoY), and the consumer durables growth came in at 5.1% against 6.2%....
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Its good for rate sensitive sectors. I like to lower the target of IT,Tech, Pharma by 40% from current level. However, stock like ranbaxy would see upside....
In reply to:
RBI cuts CRR by 150 bps
Posted by : MMB Messenger
The Reserve Bank of India has cut 150 basis points to 7.5% with effect from tomorrow in a bid to infuse liquidity into the markets.
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The Reserve Bank of India has cut 150 basis points to 7.5% with effect from tomorrow in a bid to infuse liquidity into the markets....
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Sir,
ICICI seems to be going the LEHMEN BROTHERS way, Serves them right for their pathetic customer service. I have withdrawn all my money from my ICICI account, leaving only the minimum balance.
Three cheers to the ,,WORST INDIAN BANK,, s foreseeable demise!
...Singh...
...
In reply to:
Is indian economy collapsing????!!!!
Posted by : marketman
We have been listening indian growth stories for few years.... our financial markets too witnessed the same trend till recently.... our policy makers repeatedly assuring the investors about the strongness of indian economy.... they are saying india is immune to world financial crisis....
But indian financial markets too collapsing along with the global cues.... almost all investors and many corporates are already in deep troubles.... few are doubting at some pvt sector banks for their suspicious behaviour....
We are also part of globe,india is not from any other planet.... this common logic is ignored by our policy makers and talking nonsenses on daily basis to confuse/mislead the indian investors aswell as indian public....
Atleast the chiefs of global economy taking few steps to control the situation,we havnot seen any types of mesures or useful decisions so far in india.... already stock markets fell more than 50% from their peaks within few months.... banks are struggling for survival,many corporates facing liquidty problem,few companies at the threshold of removing employees from payrolls,experts epecting subprime type issues may occur soon in india too.... interestingly indian rupee is weaken much within short span of time....
By seeing/experiencing all these ill effects,even patriotic indians doubting about the situation of economy in the country.... few people asking questions like Is indian economy too collapsing?!
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Gold futures at new high of Rs 14,200 per 10 grams
Dow at five year low; closes below 679 pts down
RBI cancels Rs 10000 crore bond auction ...
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Dollar sold at 49.30 and return to 49.20 now....
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Effects of the global financial crisis are already precipitating in the form of delinquencies. Though the situation may not be alarming just yet, fresh cases have been added to the Reserve Bank of India (RBI)-constituted corporate debt restructuring (CDR) cell - a signal that more defaults on borrowings could be in the pipeline.
Though details of the new cases were not immediately available, a banker said this is a trickle that could eventually become a flood. It is learnt that in the September quarter, five new cases with total debts of Rs 1,600 crore have been added to CDR. A special committee has been constituted to restructure these companies. Of these, four are from textiles, which is among the worst-affected sectors given the slump in global demand and an over supply situation, while one is a sugar company.
Between April and August this year, sources said that around ten new cases were transferred to CDR. Fresh cases of defaults had effectively diminished over the years to six or seven a year. A positive trend was being witnessed over the last few years with companies successfully turning around and exiting from CDR.
Rising costs of power and other raw materials have, however, resulted in the new cases of defaults on borrowings. The prevailing liquidity crisis, high interest rates, depreciation of the rupee, among other factors, could lead to more companies being caught in the CDR net.
A banker told TOI that more delinquencies are expected to crop up especially in sectors like real estate, auto components, textiles, among others.
IDBI Bank, executive director, B Ravindranath, however, is optimistic about the current downturn. \"We have constituted a special committee to take proactive measures to ensure timely help for the new companies in CDR. India can definitely overcome the situation with timely help through restructuring and rehabilitation initiatives,\" he said.
Banks hope to unlock the value of unproductive assets of these companies to enable them to come out of the current crisis. The CDR mechanism was formed in 2001 as an effective means of dealing with standard and sub-standard assets of banks and financial institutions. There was a substantial rise in the number of defaults on debt by companies bogged down by a down cyle in the economy. The high interest rate regime then had resulted in defaults on borrowings, particularly in the steel sector.
-ET
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Poll
Udayan's Market Outlook
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Investors should stay in cash, not sell in panic | |
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| Udayan Mukherjee, Stocks Editor, TV18 | ||
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