Jul 30, 2013

RBI's monetary policy review of 30 july 2013

The Reserve Bank of India today maintained a status quo by not revising the repo rate or the cash reserve ratio but turned unexpectedly dovish which made the slide below the psychological level of 60/dollar, for the first time since July 9.

The liquidity tightening steps of the central bank which were unleashed a fortnight back were able to halt the sharp depreciation of the currency.

The central bank kept the March end inflation forecast unchanged at 5%, while cut GDP growth forecast for 2013-14 to 5.5% from 5.7% projected in May.

In the post policy press meet RBI governor Subbarao acknowledged that while there was a strong case for further policy easing as growth has moderated more than expected but an uncertain external sector prevented in taking such a step. After cutting the key policy rate by 75 bps cumulatively on three consecutive occasions, RBI held the rate in the June policy.
Posted on Tuesday, July 30, 2013 | Categories:

Jul 19, 2013

You Can Earn Entire Year's Money in ONGC

You Can Earn Entire Year's Money in ONGC
IT IS IN FOR 10% MOVE....but for SL, Holding and alerts please

Jul 18, 2013

Jul 17, 2013

Government announces changes in FDI caps: Highlights

Government announces changes in FDI caps: Highlights
  • FDI cap in telecom raised to 100% from 74%; up to 49% through automatic route and beyond via FIPB
  •  No change in 49% FDI limit in civil aviation
  •  FDI cap in defence production to stay at 26%, higher investment may be considered in state-of-the-art technology production by CCS
  •  100% FDI allowed in single brand retail; 49% through automatic, 49-100% through FIPB
  •  FDI limit in insurance sector raised to 49% from present 26%, subject to Parliament approval
  •  FDI up to 49% in petroleum refining allowed under automatic route, from earlier approval route
  •  In power exchanges 49% FDI allowed through automatic route, from earlier FIPB route
  • Raised FDI in asset reconstruction companies to 100% from 74%; of this up to 49% will be under automatic route
  •  FDI limit increased in credit information companies to 74% from 49%
  •  FDI up to 49% in stock exchanges, depositories allowed under automatic route
  •  FDI up to 100% through automatic route allowed in courier services
  •  FDI in tea plantation up to 49% through automatic route; 49-100% through FIPB route
  •  No decision taken on FDI cap in airports, media, brownfield pharma and multi-brand retail

Jul 11, 2013

Government decides to release economic data after market hours

Key macroeconomic data including GDP and IIP numbers will now be released after market hours, in an apparent bid by the Government to prevent any knee-jerk reaction to such information.
According to a statement available on the Ministry of Statistics and Programme Implementation website, Gross Domestic Product (GDP), Consumer Price Index (CPI) and Index of Industrial Production (IIP) will now be released at 5.30 PM in the evening.
A source said the government has taken this decision in view of deteriorating markets and depreciating rupee.
Financial markets have in the past reacted sharply to release of IIP, GDP and CPI numbers at the scheduled time of around 1100 hours.Starting this Friday, the two key data indicating health of the economy, i.E.
IIP measuring factory output and CPI reflecting price rise on retail level, will be released in the evening.
The factory output growth has slipped to 2 per cent in April on account of dismal performance of manufacturing, mining and power sectors coupled with lower output of capital goods as the official data released last month on June 12.
Falling for the third straight month, CPI or retail inflation stood at 9.31 per cent in May due to easing of prices of edible oil and protein-based items.
Posted on Thursday, July 11, 2013 | Categories: