Current news & Rumours in the mkt
- Thread starter praveen taneja
- Start date
Shall we take some quantity delivery, with SL of 55 or so. Do you feel its time to buy or wait till the outcome of the panel reports?
Bhaiya, what does your " Inner feel" predict?
Saivenkat
Bhaiya, what does your " Inner feel" predict?
Saivenkat
but 61.50-62 is resi zone it looks
PSU’s to get 42% gas for power sector
The government has finalized a gas allocation policy for the power sector under which 42% of the domestic gas would be reserved for companies controlled by the Centre and the states. Besides, power plants located in SEZs and the Delhi- Mumbai industrial corridor would get 4% each. The remaining 50% gas would be given to the private sector, out of which 40% would be for independent
gas allocation policy is clear and out. Since this policy would be implemented from the XIIth Five Year Plan, the companies have some time to decide on their projects’ priority. This news is a clear positive for Indian power generation companies and brings an end to all speculation doing the rounds on government’s allocation policy.
The government has finalized a gas allocation policy for the power sector under which 42% of the domestic gas would be reserved for companies controlled by the Centre and the states. Besides, power plants located in SEZs and the Delhi- Mumbai industrial corridor would get 4% each. The remaining 50% gas would be given to the private sector, out of which 40% would be for independent
gas allocation policy is clear and out. Since this policy would be implemented from the XIIth Five Year Plan, the companies have some time to decide on their projects’ priority. This news is a clear positive for Indian power generation companies and brings an end to all speculation doing the rounds on government’s allocation policy.
http://myiris.com/newsCentre/storyShow.php?fileR=20100917121838707&dir=2010/09/17&secID=livenews
hope it can b of some use to u
hope it can b of some use to u
Savings bank A/C to be more attractive
Impact
Guaranteed returns on savings bank account may soon be a thing of the past. The Reserve Bank of India has moved a step forward in its proposal to deregulate this interest rate.
At present a working group has been set up by the RBI, in order to assess the modalities of deregulating interest rates.
Deregulating interest rates would mean that banks will now have the freedom to set interest rates on savings bank account, based on their need for funds. At present, the rate of interest offered on savings deposits is mandated at 3.5%. by RBI.
Former Deputy Governor of RBI - Mr. S.S. Tarapore has been a strong proponent of freeing interest rates on savings deposits. In a recent article in a business publication he had said, "The interests of small depositors have been, for all practical purposes, bartered away. With the Consumer Price Index (CPI) showing a year-on-year increase of 13-14% and the Wholesale Price Index (WPI) an increase of 10%, the interest rate on savings bank accounts of 3.5% reflects high negative rates of return. A rock-like savings bank deposit rate of 3.5%, irrespective of the overall situation, reflects policy paralysis".
Highlighting one of the issues in deregulation of interest rates, Deputy Governor of RBI - Ms Usha Thorat said, "On one hand, savings accounts provide banks with low-cost funds of an enduring nature which facilitate asset-liability management and help lower lending rates. On the other hand, the costs not currently recovered in handling such accounts have to be considered as well".
In our opinion, the proposed deregulation of interest rates on savings bank account would benefit the customers, and also bring out the liquidity management ability of banks. However, banks should disclose their interest rates publicly, in order to infuse transparency for account holders, thus precluding any discrimination.
Impact
Guaranteed returns on savings bank account may soon be a thing of the past. The Reserve Bank of India has moved a step forward in its proposal to deregulate this interest rate.
At present a working group has been set up by the RBI, in order to assess the modalities of deregulating interest rates.
Deregulating interest rates would mean that banks will now have the freedom to set interest rates on savings bank account, based on their need for funds. At present, the rate of interest offered on savings deposits is mandated at 3.5%. by RBI.
Former Deputy Governor of RBI - Mr. S.S. Tarapore has been a strong proponent of freeing interest rates on savings deposits. In a recent article in a business publication he had said, "The interests of small depositors have been, for all practical purposes, bartered away. With the Consumer Price Index (CPI) showing a year-on-year increase of 13-14% and the Wholesale Price Index (WPI) an increase of 10%, the interest rate on savings bank accounts of 3.5% reflects high negative rates of return. A rock-like savings bank deposit rate of 3.5%, irrespective of the overall situation, reflects policy paralysis".
Highlighting one of the issues in deregulation of interest rates, Deputy Governor of RBI - Ms Usha Thorat said, "On one hand, savings accounts provide banks with low-cost funds of an enduring nature which facilitate asset-liability management and help lower lending rates. On the other hand, the costs not currently recovered in handling such accounts have to be considered as well".
In our opinion, the proposed deregulation of interest rates on savings bank account would benefit the customers, and also bring out the liquidity management ability of banks. However, banks should disclose their interest rates publicly, in order to infuse transparency for account holders, thus precluding any discrimination.
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