17 May, 2012

Austerity steps soon, but don't panic: Pranab

Mr. Mukherjee sounded confident that India's growth rate "will pick up" soon, saying: "The Indian growth story is intact. It will move up."

Publication: The Asian Age

Current economic uncertainty is an excellent buying opportunity: Navneet Munot, CIO, SBI MF

Amidst this gloom, should we just give up hope? No, we should not....

Publication: www.cafemutual.com

Mutual funds witness closure of 1.1 million equity folios in 2012

Investors are allocating more money in fixed maturi­ty plans, short-term funds and monthly income plans. "This trend may continue this year, too, but investors should not ignore equities completely," says Ajit Menon, EVP at DSP BlackRock MF.

Publication: Business Standard

16 May, 2012

RBI Keeps an Eye on Currency Bets, Intervenes to Lift Rupee

Regulator sells dollars worth $200-300 m on Tue, to meet select banks this week..

Publication: The Economic Times

Individual MF investors steadier than companies

Contrary to popular per­ception of fickle nature of individual investors in equi­ty funds, it is actually the corporate investors in debt funds who are proving to be volatile in their investments.

Publication: Financial Chronicle

DTC Bill in monsoon session, says Pranab

The government will examine recommendations of the Standing Committee on Fi­nance and incorporate these in the proposed tax reform law, Mukherjee said in the Rajya Sabha...

Publication: The Financial Express

Govt girds up for possible breakout in eurozone

In contrast to the 2008 crisis when the govern­ment gave a hefty fiscal stimu­lus, the Centre would rely on non-budgetary measures this time...

Publication: The Financial Express

Govt firm on PAN number for gold buys of over Rs 2 lakh

Customers will no longer be able to buy gold bars or coins worth more than Rs 2 lakh - even by paying cash -without furnishing an Income-Tax Permanent Account Number (PAN).

Publication: The Hindu Business Line

15 May, 2012

Facebook IPO a bright spot as markets keep eye on Europe

Wall Street could get a chance to show just how much it `likes` Facebook in the week ahead. "I think it shows there`s growth out there. There`s new concepts and there`s entrepreneurialism, and some people could get pretty rich over this," said Bob Doll, Vce Chairman of BlackRock.

Publication: www.moneycontrol.com

Inflation zooms to 7.23%; increases worries for RBI

RBI's predicament: Check inflation or spur flagging growth...

Publication: The Indian Express

RBI to buy Rs.12,000-cr govt bonds

The securities include 8.24 per cent bond maturing in 2018, the current10-year benchmark bond carrying coupon rate of 8.79 per cent, 8.08 per cent bond maturing in 2022 and 8.28 per cent bond maturing in 2027.

Publication: Business Standard

Real GDP growth of FY13 to recover at 7.6%:CMIE

The real gross domestic product (GDP) is expected to recover to 7.6 per cent in the current financial year, on the back of an ex­pected good monsoon and easing of supply con­straints, economic think-tank CMIE forecast in its latest report...

Publication: Financial Chronicle

Forex reserves can be used to check Rs. slide: PMEAC chief Rangaraj an

Prime Minister's Economic Adviso­ry Council (PMEAC) chair­man C Rangaraj an said on Monday that there was limit­ed scope for the RBI to cut interest rates in the wake of rising in­flation. But the Reserve Bank of India can deploy foreign exchange reserves to protect the rupee from sharp depre­ciation, which is caused by sudden fluctuations in the capital flows.

Publication: The Financial Express

Forex reserves can be used to check Rs. slide: PMEAC chief Rangaraj an

Prime Minister's Economic Adviso­ry Council (PMEAC) chair­man C Rangaraj an said on Monday that there was limit­ed scope for the RBI to cut interest rates in the wake of rising in­flation. But the Reserve Bank of India can deploy foreign exchange reserves to protect the rupee from sharp depre­ciation, which is caused by sudden fluctuations in the capital flows.

Publication: The Financial Express

Speciality Restaurants to go ahead with IPO despite weak markets

Speciality Restaurants, the promoters of restaurant chains Mainland China and Oh! Calcutta, will hit the market with its initial pub­lic offering on Wednesday to raise around Rs.182 crore...

Publication: The Financial Express

NRIs sending back large sums as rupee drops

Banks in south with huge NRE deposit base milk opportunity...

Publication: Financial Chronicle

How much worse can the markets get?

Markets have ignored positives such as a dip in oil prices. Continue SIPs, buy fundamentally stocks stocks..

Publication: Mint

14 May, 2012

THE WEEK'S BEST PERFORMING

Express 50 Top Funds...

Publication: The Indian Express

Mutual fund assets grow 16% in April

The mutual fund industry posted a nearly 16 per cent growth in its average assets under management (AUM) at Rs 6.8 trillion in April on the back of higher inflows to the money market funds, a Crisil Research report has said.

Publication: The Statesman

Comm Secy Khullar to Become Trai Chief

Veteran economist's term begins amid row over regulator's auction recommendations...

Publication: The Economic Times

Dominant stake unlikely for NSDL in GST network firm

The National Securities Depository Ltd (NSDL), which was to hold a 21% stake in the company set up to run the goods and services tax (GST) network, may not be the dominant private stakeholder in it...

Publication: Mint

Stimulus for growth

The government finally brought down the rate of withholding tax from 20 per cent to 5 per cent across businesses, in the finance bill, extending the benefit to the infrastructure sector as well. The decision will help companies save on cost of raising funds and may even help raise funds sub­sequently in the form of external commer­cial borrowings (ECBs) that were held up earlier on tax grounds...

Publication: Financial Chronicle

Bond prices rise on resumption of market operations by RBI

The price of the bench­mark ten year security the 8.79 per cent coupon falling due in November 2021, rose to Rs 101.47 (face value Rs 100) last weekend. The price translated to a yield of 8.56 per cent. The previous week the security was priced at Rs 101.08 (8.63 per cent)...

Publication: Financial Chronicle

Ex-Fidelity chief to lead L&T Fin's bank foray

When L&T Finance acquired Fidelity's mutual fund business in India in late March, there wasaquestion mark over Fidelity MF's India chief Ashu Suyash's next move...

Publication: The Times of India

Will the return of entry loads benefit the industry, investors?

Prominent experts from the industry to share their views on this contentious topic. Here's what four of them had to say...

Publication: The Economic Times

Debt, equity fund investors show subtle changes in preferences

Open-end income funds are beginning to be viewed by investors as more attractive than close-end income funds and interval income funds...

Publication: Financial Chronicle

13 May, 2012

Ignorance keeps investors away

Despite moribund equity markets, equity funds with a 10-year track record have delivered 15 to 25 per cent returns...

Publication: The Hindu Business Line

Gold jewellery schemes don't shine as investment

Gold ETF and e-gold formats are safer options to invest in gold....

Publication: The Asian Age

Banks told to fix charges for high-value cheques on cost-plus basis

The banking regulator has come across instances of banks levying charges that are pegged at an arbitrary percentage of the cheque's value. This is a violation of the Payment and Settlement Systems Act...

Publication: The Hindu Business Line

SEBI finds fault with working of United Stock Exchange

SEBI has warned the United Stock Exchange (USE) to be cautious and per­ceptive while discharging its functions and regulatory du­ties...

Publication: The Hindu Business Line

Inter-Bank transfer of loan a/c to be safer

"Banks should put in place a board approved pol­icy with regard to take­over of (borrowal) accounts from another bank," Reserve Bank said in a notification...

Publication: The Asian Age

12 May, 2012

Open Market Operations an option, says Gokarn

The response to Friday's open market operations sug­gests that the RBI can use it as an option to address liquidity pressure, said the RBI Deputy Governor, Dr Subir Gokarn...

Publication: The Hindu Business Line

IIP disappointing, weak global sentiments hindering recovery: FM

Expressing unhappiness over the con­traction in industrial output num­bers. Finance Minister Pranab Mukherjee on Friday said slowdown in global demand and investment activity has impacted IIP...

Publication: Afternoon Despatch & Courier

11 May, 2012

Retail investors go for debt over equity funds

Ajit Menon, EVP at DSP BlackRock Mutual Fund, says, "The increasing participation of retail investors in debt funds is main­ly on account of the poor equity market scenario and higher interest rates. Investors have allocated more money during the year to fixed maturity plans, short-term debt funds and monthly income plans (MIP).

Publication: Business Standard

Twin RBI steps to bolster rupee

RBI today took decisive measures to prop up the rupee, asking ex­porters to sell half the foreign cur­rency in their accounts and making it easier for the market to absorb large foreign exchange transac­tions..

Publication: The Telegraph

RIL buys Rs 1, 233-cr bank stocks as 'long-term investments

Awaiting regulatory approvals for its for­ay into financial services sector, Mukesh Ambani-led Reliance Industries has acquired shares in giants like HDFC, ICICI Bank and Axis Bank as part of long-term'investments

Publication: The Financial Express

HSBC May Exit its Life Insurance JV in India

"HSBC is evaluating possible ways to exit from the business," a person very close to the business said. A decision on this is expected soon, he added.

Publication: The Economic Times