Month: December 2009

Potential for a reintroduction of Re1 cigarette – ITC

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According to ITC, the vacuum created by the exit of the popular low priced micros and plain nonfilter cigarettes (in the wake of the heavy imposition of excise duties last year) has been occupied by duty-evaded illegal regular size filter cigarettes which are sold at Re1 per stick.

Mr. Kurush Grant Divisional Chief Executive, ITC said,

these low priced tax-evaded illegal cigarettes account for about 12-13% of cigarette industry today (~5% in 1HCY08).

Industry has represented to government to consider the introduction of

Read morePotential for a reintroduction of Re1 cigarette – ITC

Hindustan Construction bags order from Indian Strategic Petroleum Reserves

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Hindustan Construction Company (HCC) has informed us in a message that the company just a while ago received a prestigious contract worth Rs 374.66 crore from Indian Strategic Petroleum Reserves (ISPRL), New Delhi. The company has bagged the order for construction of civil works for an underground rock caverns for Strategic Storage of Crude Oil … Read more Hindustan Construction bags order from Indian Strategic Petroleum Reserves

Investor confidence empowers FDI inflows a y-o-y growth of 60% in November

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India has garnered foreign direct investment (FDI) inflows of $1.74 billion during November 2009, a 60% increase over the $1.08 billion recorded in same month last year. This surge in FDI inflows is significant because India continued to be held as a safe destination for investment despite global recession and financial crises in world’s largest economies.

According to the Department of Industrial Planning and Policy, India has received $23.82 billion up to October 2009 as against $30.58 billion in the fiscal year of 2008-09. In the month of October this year, FDI inflows have notched $2.33 billion as against $1.49 billion during the same month in 2008. However, FDI inflows during April-November period of the current fiscal year declined marginally to $19.38 billion from $19.79 billion a year ago on the backdrop of the impact of global financial crisis felt in earlier months of FY 10.

Read moreInvestor confidence empowers FDI inflows a y-o-y growth of 60% in November

ICICI Bank – Image makeover – Learning from Mistakes

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In a recent meeting, the management highlighted its initiatives to change the general perception about the bank. Some of these aspects are very important and quite commendable as well, in our view.

ICICI Bank is trying to build personal relations with its customers and has been increasing its branch banking focus, compared to its earlier strategy of pushing customers towards ATMs and internet, which never allowed any relationship to be built between the customer and the bank. The management is trying to project a very soft image of itself across all customers and different from its earlier “know all” approach.

Read moreICICI Bank – Image makeover – Learning from Mistakes

Value of Indian Currency Notes + Coins Induced into Circulation in last 10 years

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In one of the Macro Economic Research we are undertaking, we wanted to know what is the total value of currency in circulation in India. We spent quite some time and money to gather this information from RBI [India’s Central Bank and Highest Authority on Banking]

The duty of the RBI is to place its indent for supply of fresh banknotes and coins every year with the Government Press / Mints and the Indian Government fulfill those requests. Here is the record as obtained directly from the records

Read moreValue of Indian Currency Notes + Coins Induced into Circulation in last 10 years

How Indians Can Settle Credit Cards + Loan EMIs – A Relief Package

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Indian Banks in a bid to expand their market share in Housing Loans, Auto Loans and Credit Cards, lent recklessly over 2004 to 2007 to any consumer without even verifying the credentials. Now, they are facing rapid defaults and are causing a misery to the Indian borrower. The RBI aware of this situation, has instructed BCSBI an independent body [it is as good as Government as it was formed by the RBI, so your data is safe with them] that looks into the functioning of Banks and Financial Institutions has started a separate counseling wing to identify genuine cases and negotiate a relief package.

Read moreHow Indians Can Settle Credit Cards + Loan EMIs – A Relief Package