Lokpal Bill Mission – Curb Corruption
It is well known fact from Kids to Grandpas across the length and breadth of the country that Bribery / Corruption is rampant in India and termed political interference as a key reason for poor enforcement of anti-bribery and corruption laws in the country. Hence, having a strong civil participation in the matter can help bring enhanced governance.
Successive Governments in India has taken various initiatives in the recent past to curb corruption, mostly by being vocal in the press without actual powers to the civil society nor punishing the culprits. There is an urgent need for a mechanism that would adopt Read more
Budget 2011 Live – Highlights
Excerpts from Pranab Mukherjee’s Speech Live – Continuous Update.
Indian economy at pre-crisis growth trajectory. Food Inflation still remains a concern. FY11 Fiscal consolidation impressive. Service Sector continues to grow in double digit. Stronger fiscal consolidation needed. Need to ensure sustained private investment.
FM says corruption is a problem; must fight it collectively. Need to improve the supply of agriculture to meet demand. Current account deficit poses some concern. Economic growth seen at 8.75%-9.25% in FY12. GST rollout preparation in final stages, will be tabled in the current session. Sees FY11 industrial growth at 8.1% and services growth at 9.6%.
FIIs allowed to invest in MF schemes. Divestment target at Read more
RBI Concerned on Current + Fiscal Deficit
In the Monetary Policy Review, the RBI clearly stated it is concerned about the Twin Deficit-s Current Account as well as Fiscal. The RBI expected the overall current account deficit for 2010-2011 to be about 3.5% of GDP. It noted ‘A CAD of this magnitude is not sustainable.’ The RBI was also concerned about the financing of the current account deficit since the faster-than-expected global recovery may enhance the attractiveness of investment opportunities in Read more
Onion prices Make Institutional Investors Cry & Sell India
The decelerating trend in headline inflation was rudely reversed in December due to rising food prices both on the domestic and global front. Consequently, headline inflation rose 8.43%YoY in Dec, in line with expectations of 8.4% but higher than 7.5% levels seen in Nov.
While the base effect was expected to kick in, the rise in the Dec numbers was primarily due to primary articles which rose 16.5% YoY, 3.5%MoM) Primary food inflation jumped to 13.6% y-o-y Read more
Mobile money – Game Changer – Financial Inclusion
Mobile banking was a solution that fit developing world needs like a glove. Most developing countries have suffered from low penetration of banking and electronic cash. The model is being led by various types of entities: banks, mobile companies and third-party aggregators. In India, the push for mobile banking is coming from the banking regulator committed to financial inclusion.
The biggest GameChanger for mobile banking will be its ability to converge the twin objectives Read more
October Indian Inflation at a High of 8.6%
Indian inflation continued to remain extremely high with October inflation printing at 8.6% oya (0.6% m/m, sa). Underpinning this month’s inflation was a sharp acceleration in non-food primary articles (e.g. fibres, silks, rubber) reflecting the sustained rise in global commodity prices in recent weeks.
More worryingly, while the level of manufacturing ex-food inflation continues to remain sticky at the 5% level, its monthly momentum Read more
List of Private Sector Banks in India
We have obtained the list of all Private Sector Banks in India.
There are 25 private sector banks in India which are categorized by the RBI as Old Private Sector Banks and New Private Sector Banks. The 18 Old Private Sector Banks are as follows,
- Bank of Rajasthan [ Merger with ICICI going on]
- Bharat Overseas Bank
- Catholic Syrian Bank
- City Union Bank
- Dhanlaxmi Bank
- Federal Bank
List of All Nationalized Banks in India
Nationalized Banks also known as Public Sector Banks Or PSU Banks are the Banks where Government of India has direct control in ownership and management. Advantage of banking with these financial institutions is that they don’t have hidden charges like most Private Sector and Foreign Banks do.
India has 26 Nationalized Banks and Here is the list of these Banks where you can conduct your business, Read more
Bliss GVS Pharma pact with Kuwait Saudi Pharmaceutical Industries
Bliss GVS Pharma has signed a Joint Venture (JV) agreement with Kuwait Saudi Pharmaceutical Industries Company, based in Kuwait, for establishing a Suppository Line Manufacturing facility in Kuwait.
The company manufactures wide range of Pessary Formulations, Suppository Formulations, Calcium Preparation, Protein Powders, Iron Preparation, Antibiotics, Analgesic and Antipyretics, Respiratory, Anti-inflammatory, Dermatological Preparations and Anti-Diarrhoeal products.
RBI raises repo and reverse repo rates by 25 and 50 bps
Finally, the RBI Governor mustered some courage to hike the much needed Repo and Reverse Repo rates by 25bps and 50 bps during its monetary policy review meeting today. With this, the repo rate will stand at 5.75% and reverse repo rate will go up to 4.5%. Meanwhile, CRR has been kept unchanged at the current level of 6.0%. Story Updating..
RBI embarked on gradual exit from an overtly accommodative monetary stance, while ensuring that the nascent recovery is not
derailed. Thereafter, as recovery gathered momentum and so did inflation, RBI’s stance was one of balancing the objectives of Read more