Business and Market News

India Celebrates Victory of People at India Gate on the Achievement of 3 Demands of Jan Lokpal Bill

2011-08-28T11:07:00.000-07:00

Today is a special day for almost every Indian. Anna Hazare breaks his fast at 10:19 morning. He took coconut water and honey from two girls – Ikra and Simran. Ikra belongs to a Muslim community while Simran is a Dalit girl.

Anna Hazare tried to establish a social balance from his stage in the country. It was necessary because it was not a fight for socialist society. Dalit girl indicates the policy of satisfaction on the surface of democratic political drama.

It was the victorious Sunday today. Middle class has written a new story of peaceful movement in India. It was nothing but a pre-planned achievement to emphasize bureaucracy. It was a fight for an independent bureaucracy like judiciary to run the democracy. What have done judiciary for the people of India in last 65 years?

If a democracy runs by bureaucracy than what will you say it? Is democracy or bureaucracy? Why people of India don’t believe on their own leader? Do they think beyond the democracy?

Yes, they think beyond the existing democracy. They need a socially balanced society. They are thinking about equality for everyone.

These are not the issues of Jan Lokpal Bill but the people of India are thinking about it in their future. Today, a great celebration was organized at India Gate, Delhi in the achievement of 3 demands of Jan Lokpal Bill.

Thousands of supporters are seen at India Gate. The mobs celebrated the victory of people of India. It was the victory of Anna Hazare and his team for middle class society. They already have addressed to bring some other topic to make a new India.

In the whole scenario, Swami Agnivesh is trapped against Anna Hazare. A video brings his reality to the people of India. But overall, the whole movement gave a jerk to the society to think about a beyond the democracy.

Infrastructure Fund Launched by IDFC Mutual Fund

2011-02-23T00:20:00.000-08:00

Recently, IDFC Mutual Fund announced the launch of an infrastructure fund. The fund aims to generate long-term capital growth through a diversified portfolio of predominantly equity and equity-related instruments.

An online news portal about business and economy - economictimes.indiatimes.com, quotes a statement of the fund house, “IDFC Infrastructure Fund is an open-ended scheme. The scheme's investment objective is to generate long- term capital growth through an active diversified portfolio of predominantly equity and equity-related instruments of firm participating in and benefiting from growth in infrastructure and related activities.”

Infrastructure Fund IDFC Mutual Fund is aimed to generate long-term capital growth through an active diversified portfolio of predominantly equity and equity-related instruments of firm.

Further the news portal quotes a statement of Kenneth Andrade, IDFC MF Head Investments, “The fund has been launched at a time when we believe that valuations in this sector are very attractive and there may be huge investment appreciation ahead.”

Further he said, “It will be benchmarked against the BSE 200 Index. The scheme will have up to 80-100 per cent exposure in equity and equity-related securities and 0-20 per cent in debt and money market instruments.”

Infrastructure Fund IDFC Mutual Fund is being considered as the biggest investment in comparison of BSE and money market instruments.

The news portal gives a light on the Infrastructure Fund of IDFC Mutual Fund, “The government has proposed Rs 50,000-crore infrastructure fund to support private sector investments in PPP projects.”

So, there is a good support of government also of Rs. 50,000 crore infrastructure funds to support private sector investments in PPP projects.

Infrastructure Fund of IDFC Mutual Fund is open from 14th February and closes on 28th February, 2011. You can subscribe the Infrastructure Fund of IDFC Mutual Fund between the above mentioned dates. It is a good news like Kotak Secure Invest Insurance and Kotak Wealth Insurance of Kotak Life Insurance.

Phase II of Paradise City Announced To Launch By HDIL

2010-12-30T17:59:00.000-08:00

Recently, Housing Development and Infrastructure Ltd (HDIL) announced to launch its second phase of mega township project - Paradise City. The City is being developed at Palghar (W).

An online news portal about business and economy - economictimes.indiatimes.com, writes about it, “The second phase offers 3,000 units for sale comprising 1RK, 1, 2 and 3 BHK formats, ranging from 340 sqft-930 sqft and shops ranging from 5,155 sqft-7,950 sqft. “

Further the news portal quotes a statement of the Company, “In less than two weeks, almost 100 per cent of the project's first phase was sold out. Paradise City is a mega affordable housing project that offers the convenience of modern living coupled with a green and clean environment. The project will offer over 20,000 designed homes at affordable prices.”

In the analysis, the news portal writes, “The well planned township is demarcated in 16 sectors; the second phase includes sectors 4, 5 and 6 and shops from 1, 2, and 3 which are open for bookings from today onwards.”

Another news portal - www.business-standard.com, writes about Phase II of Paradise City, “Paradise City is a mega affordable housing project that offers the convenience of modern living coupled with a green and clean environment. With close proximity to Palghar railway station, the project will offer over 20,000 elegantly designed homes at affordable prices; offering customers the best of modern amenities. As part of its holistic living experience the project will also have dedicated areas for retail establishments, at attractive price points. The well planned township is demarcated in 16 sectors; the second phase includes sectors 4, 5 & 6 and shops from 1, 2, and 3 which are open for bookings from 24th December 2010 at Kurla West and Palghar West.”

If you want to buy a home, it is a good time like investment in fund of New Exchange Traded Gold Fund of Axis MF.

Short Term Income Fund Scheme Launched by Fidelity Mutual Fund

2010-11-30T09:04:00.000-08:00

Recently, Fidelity Mutual Fund announced the launch of Fidelity Short Term Income Fund. It is an open ended income scheme that aims to generate reasonable returns primarily through investments in fixed income securities and money market instruments.

An online news portal about business and economy - economictimes.indiatimes.com, quotes a statement of Fidelity Investment Managers, Managing Director and Country Head - India, Ashu Suyash, “At a time when investors have turned risk averse with hardening interest rates and increasing equity market volatility, we believe that Fidelity Short Term Income Fund could provide reasonable returns even over shorter periods of time.”

As per the news portal, “The NFO for the fund will open from November 19 and closes on November 30.”

So, now the fund is not available. Its closing date is very near now. Now, you can’t buy it.

Further, Ashu Suyash said to ET, “With this launch, we hope to reach out to a wide section of investors with an investment option that will leverage our expertise in bottom-up credit research to provide better post-tax returns over other interest bearing instruments including deposits.”

Short Term Income Fund Scheme of Fidelity Mutual Fund reaches a wide section of investors with an investment option.

About the Short Term Income Fund Scheme of Fidelity Mutual Fund, the news portal writes, “The fund presents a key building block for the asset allocation plans of retail and high net-worth investors and is in line with our overall objective of helping investors in reaching their financial goals.”

So, the fund basically presents a key building block for the asset allocation plans of retail and high net-worth investors and helping investors in reaching their financial goals. The investment plan was just like new open-ended exchange traded fund of Axis Mutual Fund.

New Exchange Traded Gold Fund Launched by Axis MF

2010-10-31T07:31:00.000-07:00

Recently, Axis Mutual Fund announced the launch of its new open-ended exchange traded fund. It is known as Axis Gold ETF. It is focused to on gold-related investment and derivatives.

An online news portal about business and economy - economictimes.indiatimes.com, quotes a statement of Axis MF, “The fund will allocate a maximum of 100 per cent of its corpus for investment in gold, including derivatives. It might also invest up to 10 per cent of its corpus in money market instruments.

Market sources said Axis MF aims to mop up Rs 300 crore through the new fund offer (NFO), which closes on November 3.

The minimum investment in the Axis Gold ETF NFO is Rs 5,000.” So, the fund comes with 100% allocation of its corpus for investment in gold. It includes derivatives also. Minimum investment in this fund is Rs. 5000.

The news portal quotes a statement of Axis AMC Managing Director & CEO Rajiv Anand also, “Axis Gold ETF will give investors an opportunity to participate in gold as an asset class. Investors prefer gold in their portfolio as it acts as a shield in times of market turmoil.”

Further the news portal adds, “The scheme will be benchmarked against the domestic price of gold. The ETFs will be listed on the National Stock Exchange.

Following its listing, Axis Gold ETF will be the seventh listed gold ETF on the Indian bourses. The total assets under management (AUM) of the six fund houses that had listed gold ETFs on domestic exchanges as of September 30 was over Rs 3,000 crore.”

The news portal quotes another statement of Mr. Anand, “Performance of gold has been good in the last six years. ETF investment would provide investors liquidity as they can trade in the instrument.” It is really a good news in financial market after the launch of Kotak Secure Invest Insurance and Kotak Wealth Insurance by Kotak Life Insurance.

Kotak Life Insurance Launches Kotak Secure Invest Insurance and Kotak Wealth Insurance

2010-09-03T21:35:00.000-07:00

Recently, Kotak Life Insurance launched two new ULIPs - Kotak Secure Invest Insurance and Kotak Wealth Insurance. These two new ULIPs are compatible with the new IRDA guidelines.

About the two new ULIPs, Kotak Life Insurance said in a statement, “Kotak Secure Invest Insurance is an equity exposure plan and is backed by capital guarantees with in-built investment advice of the guarantee fund. It also helps the customer gain from market participation through the guarantee fund that aims at stable capital appreciation while limiting the downside risk in falling market conditions.”

So, Kotak Secure Invest Insurance is launched as an equity exposure plan. The plan is backed by capital guarantees with in-built investment advice of the guarantee fund. The plan has customer gain also from market participation through the guarantee fund that aims at stable capital appreciation.

Kotak Secure Invest Insurance is the best plan for the current market situation. It offers guaranteed investment and fund. It gives a freedom of market participation also through the guarantee fund.

About the Kotak Secure Invest Insurance and Kotak Wealth Insurance plans, an online news portal about business and economy - economictimes.indiatimes.com writes, “Kotak Wealth Insurance is a complete package that provides investment growth along with comprehensive triple benefits in the event of death. Its power-packed range of eight fund options allows customers to balance their risk profile with the tenure their investments.”

So, Kotak Wealth Insurance plan is also a complete package with investment growth along with comprehensive triple benefits in the event of death. You can balance your risk profile with the tenure your investments through power-packed range of eight fund options.

Kotak Secure Invest Insurance and Kotak Wealth Insurance of Kotak Life Insurance are the best plan for the current market situation. These are compatible with the new IRDA guidelines also.

Vodafone Introduces Lowest-Priced Bonus Cards at Rs. 4

2010-07-14T06:10:00.000-07:00

This time, Vodafone has introduced its new lowest-priced bonus card at Rs. 4. The bonus card will be featured with 100 local and national SMS or local/STD calls for 8 minutes.

An online news portal about business and economy - economictimes.indiatimes.com writes about the Vodafone Bonus card, “By choosing to deduct Rs 4 from their available talktime, subscribers can get 8 local/STD minutes, calls at 30 paise per minute (to another Vodafone user), 40 minutes of local night calling (to another Vodafone user) or send 100 local/national SMSes. The card will be valid for one day.”

Further the website publishes a quotation of Vodafone, “Priced at Rs 4, the offer is the lowest cost card currently available in the market and is aimed at enabling more people at the grass-root level to stay connected.”

Further the website quotes a statement of Vodafone Essar Chief Marketing Officer Kumar Ramanathan, “We are delighted to launch the most economical bonus offer available in the market. This marks the democratisation of bonus cards, empowering more and more customers to exercise choices at a highly affordable price point of Rs 4.”

Another website about telecom industry - www.telecomtiger.com writes about it, “Existing subscribers can avail information about the Rs. 4 Bonus offer and also activate the service by dialing the special toll free advisory number *121*. On activation, Rs. 4 will be deducted from the main account balance and the benefit will be valid for one day.

The company says that the new Bonus Card is aimed at enabling many more people at the grass root level to stay connected.

The company is also advertising the new Bonus Card through a television commercial (TVC) that features an animated parrot who thinks that these days it is very difficult to buy anything for chaar rupaay.”

It is really the best and lowest-priced bonus card which offers lots of features but it is valid for only one day.

RBS may sell its Indian commercial and retail unit to HSBC

2010-06-24T19:37:00.001-07:00

A buzz has taken strong shape about Royal Bank of Scotland Group Plc that the company may sell its Indian commercial and retail unit to HSBC Holdings Plc. The news is confirmed by economictimes.indiatimes.com, an online news portal about business and economy.

The news portal quotes a statement, “The sides may agree a deal as early as next month. The unit has about 1.3 million customers, 1,800 employees and 28 branches. The bank has announced the sale of four overseas units this week after agreeing to sales in Argentina, Kazakhstan, Pakistan and the United Arab Emirates.”

Further the news portal reports, “Banco Santander SA, Spain’s biggest bank, offered as much as 1.7 billion pounds ($2.52 billion) to buy more than 300 RBS branches in the U.K.”

About the assets of bank, the news portal quotes, “The bank’s assets ballooned to more than 2.2 trillion pounds, about 1 1/2 times Britain’s annual economic production at its peak in 2008. Following the world’s biggest bank bailout in 2008, assets fell to 1.58 trillion pounds at the end of March.”

“…HSBC, Europe’s largest bank, on Thursday agreed to buy the RBS Kazakh retail unit for as much as $52 million in cash as it bolsters its presence in countries trading with China. A spokesman for London-based HSBC declined to comment on talks about a possible purchase of the RBS India unit. At the moment, the bank has 2 million customers and 35,000 employees in 50 branches across India.”

In the conclusion, the news portal writes, “RBS is withdrawing from 16 countries and scaling back in a further 21. It will remain in 17 “core countries,” including the U.S., Australia, China, France, Germany, the Netherlands, Sweden and Spain.”

It is the biggest news in banking sector after merge of Bank of Rajasthan in ICICI. Let’s see what happen in coming future about the talk. RBS may sell its Indian commercial and retail unit to HSBC or not?

Bank of Rajasthan to be acquired by ICICI

2010-05-18T22:59:00.000-07:00

India’s second largest Private sector Bank – ICICI again in the queue of acquiring other banks. The Bank will acquire Bank of Rajasthan. It would be the 3rd acquisition by ICICI bank in the last decade.

Chanda Kochhar who is the ICICI Bank MD & CEO talks to ET, “We have reached an indicative pricing with the promoters on a swap ratio of 25:118. (A BoR shareholder will receive 25 ICICI shares for every 118 BoR shares held.) This is, however, subject to due diligence. Our understanding of the strategic value is that it would have taken us three years to build the current account and savings account relationships. Also, the deal prices the market capitalisation per branch in the range of around Rs 6.5 crore, which is similar to other old private sector banks.”

Further economictimes.indiatimes.com, an online news portal about economy and business writes, “The indicative price of Rs 188 according to the share swap would be a steep jump compared with the current market price. The ICICI Bank scrip on Tuesday closed at Rs 889.35 on the Bombay Stock Exchange, down by 1.45% while the BoR scrip rose sharply by 19.95% to Rs 99.5. The current market capitalisation of the bank is around Rs 1,604 crore and a price of Rs 188 would value BoR at Rs 3,032 crore.

Given ICICI Bank’s market capitalisation of Rs 99,125 crore, the bank will have to dilute its equity by less than 3%. ICICI Bank will propose a share-swap transaction with BoR.”

In the analysis of bank branches the news portal writes, “BoR currently has around 466 branches, of which around 280 are in Rajasthan. The move would also offer ICICI Bank a decent network across north India in states like Madhya Pradesh, Haryana, Uttar Pradesh and even Delhi where Bank of Rajasthan has over 20 branches.

ICICI Bank currently has around 2,000 branches of its own. The bank, because of its earlier acquisitions of Bank of Madura in 2000-01 and Sangli Bank in 2006-07, has a good network of branches in the south and west.”

In the analysis of the acquisition the news portal writes, “Interestingly, before the economic downturn, ICICI had considered the possibility of taking over BoR. But the deal fell through as ICICI was unwilling to fork out the money Mr Tayal had asked for. ICICI currently has a high capital adequacy ratio of 19.41% while BoR has a ratio of 11.71% as on December 31.”

Merge of Bank of Rajasthan in ICICI will be the biggest acquisition of capital in the recent history. It is the indication of power and strength of banking capital. It will be known as the biggest acquisition of banking sector. The acquisition will make capitalist development very clear in India. Growth in banking sector can be seen with the hikes in deposit rates of Dhanalakshmi bank.

Dhanalakshmi Bank Hikes 25 Basis Points Term Deposit Rates

2010-05-14T21:39:00.000-07:00

Recently, the most popular Kerala-based bank – Dhanalakshmi announced a 25 basis points increase on its domestic term deposit rates. The term is effective now across all maturities.

In a press release it is said that the new rate are applicable for all domestic term deposits below and including Rs 1 crore across all tenures.

Economictimes.indiatimes.com, an online news portal about economy and business, quotes the release, “Deposit of up to Rs 1 crore will be offered 6.5 per cent for one-year maturity. For deposits from ranging from 366 days to two years, 7.25 per cent, above two years up to five year maturities, the bank will offer 7.50 per cent and above five years up to 10 years, 7.75 per cent.”

Further the release says, “The bank will offer a special rate of 7.75 per cent for 400 days term for deposits up to Rs 50 lakh. It has also waived off pre-payment penalty in respect of all deposit schemes that offer the sweep in sweep out facility as a product feature.”

In the conclusion, the news portal writes, “It has also announced increase in the period of term under its short term, high value deposit schemes from 15 days and 30 days to 46 days and 91 days respectively.”

It is the very good news for investors. However, in the last month Reserve Bank of India increases the short-term lending and borrowing rates and the cash reserve ratio (CRR) by 25 basis points. It was the second time when RBI had hiked key rates and repo rates.

Customers of Dhanalakshmi bank will be able to take the more benefit being a long time maturity holders. The bank gives the maximum returns on the long period maturity plans. The big investors have also the big returns in this plan. The bank has tried to take some more risk in the current market.

Reserve Bank of India Increases the Short-term Lending and Borrowing Rates and CRR by 25 Basis Points Each

2010-04-24T22:05:00.000-07:00

Reserve Bank of India increases the short-term lending and borrowing rates and the cash reserve ratio (CRR) by 25 basis points each in the annual Credit Policy for the year 2010-11.

About this hikes, economictimes.indiatimes.com, an online news portal about economy and business writes, “The repo and reverse repo rates have been hiked to 5.25 and 3.75 percent respectively, and will raise the cost of fund for lenders. It also hiked the CRR, the portion of money that commercial banks deposit with the central bank, by 25 basis points. The CRR hike draws out Rs 12,500 crores from the system.”

This is the second time the RBI has raised rates 25 BPS. In last month, RBI had hiked key rates by 25 bps and increased Repo and Reverse Repo also.

In an analysis the news portal writes, “The RBI has visibly shifted its policy priority to inflation from growth. It has warned that with growth expected to accelerate next year, capacity constraints are likely to put additional pressure on prices and there is a need to ensure that demand side inflation does not become entrenched. More rate hikes can be expected during the year in order to control inflation expectations.”

About the borrowers and banks situations, the news portal writes, “Borrowers can breathe easy for now as most banks have said they are unlikely to raise interest rates in the immediate future. A quarter percent hike does not warrant an increase in the lending or deposit rates. Also, since it is a lean season, the banks may not require deposits in a big way.

However, banks feel that short-term rates and subprime lending rates for corporates could go up. But the prime lending rate may not be adjusted immediately. Interest rates on deposits will not rise now since there are not many deployment avenues with banks.”

RBI has raised the short-term lending, borrowing rates and the cash reserve ratio by 25 basis points each to control the inflation. Despite it, there are no any suitable steps to control it. It is also a short-term step in the monetary policy.

Cheaper Home Loans at HDFC to 8.25% for First Year

2010-04-15T21:08:00.001-07:00

Recently, HDFC announced to lower its home loan rates to 8.25% for the first year in its new dual rate scheme. The scheme is commonly known as teaser loans that are applicable on fresh loans.

Now, subscriber will able to get a fixed rate of 8.25 % up to March 2011, then 9 % for the next one year. About the cheaper home loans, HDFC said in a statement to ET, “This is a flexible product with dual rates. The fixed rates are applicable for all new loans irrespective of the loan amount.”

So, it is a flexible product that comes with dual rates. About the lower home loans rate at HDFC, economictimes.indiatimes.com, an online news portal writes, “its existing floating rate product would continue without any change where rates are 8.75 per cent for loans up to Rs 30 lakh, 9 per cent for loans between Rs 30 lakh and Rs 50 lakh and 9.25 per cent for loans of Rs 50 lakh and above.”

Further the news portal quotes another statement about the scheme, “This special offer is applicable to all new home loan customers who apply before April 30, 2010, and take at least part disbursement before June 30, 2010.”

So, the offer is only for a limited period. Customers will be able to take the offer, if they apply before April 30, 2010.

HDFC is one of the largest private banks that lower its home loan rate for first year to 8.25%. However, SBI already has extended its 8 % special home loan scheme till April 30.

In the current time, home loans are the biggest source of deriving money for banks. Recently, almost all private bank hiked rates for home and car loans in India.

Currently, Indian market is crossing through the biggest crisis. In this situation, banks are trying to invest in the secure asset rather than share market and mutual fund activities. In the Indian market, banks are crossing through the biggest competition also. Lower home loan rate at HDFC is one of the examples of competition and crisis in the Indian financial market.

Property Search Application for Apple iPhone by Knight Frank

2010-04-11T02:10:00.001-07:00

Recently, the leading independent global property consultancy - Knight Frank announced that its Property Search App is now available from the App Store. Users can search more than 6,000 of the world’s best properties for sale or rent. They can use the application on their iPhone or iPod touch.

Patrick Ramsay who is the head of Residential in Knight Frank said to www.knightfrank.ie, “The Knight Frank App is a mobile window to more than 6,000 of the best properties around the world. It is part of our integrated global coverage giving immediate access to our international network of more than 200 offices in over 34 countries. The quality of properties are reproduced beautifully giving an extraordinary and effective way of showcasing houses on iPhone and iPod touch.”

On the other hand, Jason Leven who is the partner and web development manager of Knight Frank said, “We have extended our award winning Global Residential Search to help iPhone and iPod touch users around the world find the highest quality property available. Using location-based services users can find their nearest property regardless of where they currently are. It only takes one tap to search for all properties that match a chosen lifestyle like water views, skiing, equestrian, golfing, vineyards or sporting properties around the world. If you find a property you like you can save it, email it to a friend or even publish it directly to Facebook©. It couldn't be easier or more fun to browse the best local or global properties on the move.”

Features of the Apple Store Application for Knight Frank Property Search Application:

Search by lifestyle such as water views, vineyards, ski, golf and equestrian

Integrated global residential property search by country, region or postcode

Locate nearest properties for sale or rent using the global GPS search function

View images, floor plans and full brochures

Save favorite property searches for future use

E-mail results to friends and family or link properties to Facebook

Shake to refresh search

Locate nearest Knight Frank office and either call or email with the touch of a button

Unlimited search results

These features are also mentioned by the above mentioned news website. Knight Frank property search application is known as the biggest property search application to search sell, rent or buy a property across the world.

Portfolio Investment Scheme Launched by Federal Bank for NRIs

2010-04-09T07:16:00.000-07:00

Recently, Federal Bank announced to launch Portfolio Investment Scheme for NRIs. The PSI is launched in tie up with Geojit BNP Paribas Financial Services Ltd. It is "hassle free" facilities for investments in stock market.

Managing Director and CEO of Federal Bank - M Venugopalan said to ET, “The bank, which has been authorized by RBI to administer the scheme, was the first among the traditional private sector banks to offer the facility. As per RBI rules, investments by NRIs in Indian share market were permitted under PIS of a bank only.”

Further he talks about the benefits of the scheme, “Under the scheme, NRIs could investment in shares with or without repatriation benefits adding they need to open separate PIS accounts with the bank for repatriation and non-repatriation benefits.”

About the account details, he says, “The trading account would be opened with Geojit BNP Paribas Financial Services Limited. DP account may be opened with Federal bank/Geojit BNP Paribas Financial Services Limited. NRIs need to only issue orders for purchase/sale of shares and the remaining procedures will be handled by the bank and Geojit.”

In the analysis, economictimes.indiatimes.com, an online news portal about economy writes, “Federal Bank has over six lakh NRI clients and has a representative office in Abu Dhabi and Relationship Managers in other Gulf countries.

Geojit BNP Paribas Financial Services Limited Managing Director and CEO C J George said with the two organizations operating together, NRIs could execute transactions in the stock market with maximum convenience.

Geojit BNP Paribas Financial Services has offices in UAE, Bahrain and Saudi Arabia.”

It is not very new offer for the customers because almost all banks have already introduced the scheme. Federal Bank is Kerala-based bank so; people of South India will get some good benefits with the Portfolio Investment Scheme. Recently, we saw the key rates for car and home loans also by all banks.

Delhi Budget 2010-11 Makes the Life More Expensive for Delhiites

2010-03-23T06:25:00.000-07:00

Delhi Finance Minister, A.K. Walia unveiled Delhi Budget 2010-11 yesterday that hiked taxes on a host of items. Delhi Budget 2010-11 makes the life in the city more expensive. He justifies the budget with Games projects. With the budget, it is clear that it's payback time.

About the Delhi Budget 2010-11, economictimes.indiatimes.com writes, “The hike that is likely to hurt most is the increase in the value-added tax (VAT) on diesel from 12.5% to 20%, coming on top of the hikes Pranab Mukherjee had imposed in the Union budget less than a month ago. Higher VAT would mean diesel will cost Rs 2.37 more per litre. Given the widespread use of diesel in transporting goods, it is likely to lead to a cascading effect across the board, partly due to its actual impact on transport costs and partly because it also provides traders with a ready excuse for raising prices.

Higher cooking gas prices would also hit home, quite literally. The Rs 40 per cylinder subsidy on LPG which has been continuing from June 2008 has been withdrawn. In absolute terms, the hike in the cost of an LPG cylinder will come to Rs 41.60 because of the incremental increase in local levies.”

With this budget, Delhiites have to pay more for oil, gases, foods and transport costs that are the basic needs for any cities.

Recently, we saw the effect of Union Budget 2010-11 in comparison of union budget 2009-10. Now, Delhi Budget 2010-11 is very opposite in comparison of last year’s "thanksgiving budget".

Mr. Walia defends Delhi Budget 2010-11 with the examples of other states, “States like Madhya Pradesh and Punjab charge a far higher VAT on diesel than we do and we made the best efforts to keep the hike at the minimum possible, which is why we did not touch the VAT on petrol. As for the subsidy, name one state that continued it for so long after the original hike that had necessitated it was withdrawn. We were concerned so we footed the bill, but now we need this money for other welfare projects like widow pension etc.”

So, the government will not responsible for the crisis of common man’s life. Now, it is completely clear that the capitalist system has no way to solve recession and crisis rather than increasing difficulties in the life of common people.

RBI Hikes Key Rates by 25 bps and Increases Repo and Reverse Repo

2010-03-19T21:00:00.000-07:00

Recently, RBI announced to hike short-term interest rates - repo and reverse repo - by 25 basis points. Raises in key rates by 25 bps may hike home and auto loans also.

About the key rates hikes, economictimes.indiatimes.com, a news portal writes, “Home loan rates may harden in April, banks will be hit by bond losses, and retail borrowers will have to cough up a little more EMI, with the Reserve Bank of India unexpectedly hiking interest rates on Friday evening, a month before the monetary policy.”

Further the news portal writes, “Banks pay the repo rate to borrow from RBI and receive the reverse repo rate for parking surplus funds with the central bank. The repo rate is up from 4.75% to 5% while the reverse repo rate is up from 3.25% to 3.5% with immediate effect.”

Chanda Kochhar who is the ICICI said to ET, “The bank will wait and see the credit offtake and systemic liquidity to assess the medium-term impact on lending and borrowing rates”. “Currently, there is ample liquidity in the market.”

According to the RBI, “Headline WPI inflation on a year-on-year basis at 9.9% in February 2010 has exceeded our baseline projection of 8.5% for end-March 2010.”

According to the Keki Mistry who is the vice-chairman and managing director of HDFC, “In the short term, cost of funds is unlikely to change much... It’s more a signal.”

Already almost all private banks have hiked interest rates for home and car loans. Now, it is the second phase when again home and car loans may hike after the hike of RBI key rates by 25 bps within a month.

In the analysis, RBI has raised the short-term interest rates - repo and reverse repo - by 25 basis points to control the inflation. What are your opinions about the hikes? Write to us your opinions about the hike. How will it affect the economy of India?

Almost All Private Banks Hike Rates for Home and Car Loans in India

2010-03-06T06:28:00.000-08:00

Recently, almost all banks hike rates for home and car loans in India. In this series, the HDFC Bank, the ICICI Bank and the Kotak Mahindra are the main player. The banks have raised rates on home and auto loans.

About the hike, Economictimes.indiatimes.com which is the India’s news portal writes, “These private banks have raised lending rates by as much as 100 basis points, following the hardening of market rates even as the central bank holds on to low rates to avoid derailing the economic growth. A basis point is 0.01 percentage point. RBI has started slowly rolling back some liquidity-boosting measures and has indicated it may not hesitate to raise rates. It raised the cash reserve ratio by 75 basis points in the last review.”

Further the news paper quote a statement of Pralay Mondal who is the country head in HDFC Bank of retail assets & credit cards, “The increase in the cost of funds is being passed on to customers. It has been done to protect our margins.”

On the other hand, Kamlesh Rao who is the retail assets head in Kotak Mahindra Bank said to the news paper, “We had increased fixed deposit rates by 75 bps in the past couple of months. The increase in lending rates is to align it with the rise in deposit rates.”

About the new charges, the news portal writes, “ICICI Bank will now charge 8.75% for loans up to Rs 30 lakh, 9% between Rs 30-50 lakh and 9.5% for loans over Rs 50 lakh. It was earlier offering loans at 8.25% for two years. From the third year it would have been floating reference rates minus 3.5%.

The bank has also hiked its auto loan rates by 25-50 bps from March 5, thus increasing the rack rates to 9.75-11%. HDFC’s home loan rates have reverted to 8.75% for loans up to Rs 30 lakh, 9% for loans between Rs 30 lakh and Rs 50 lakh and 9.25% for loans over Rs 50 lakh. Till last month, it was offering loans at a fixed rate of 8.25% up to March 31, 2012, after which the loan would revert to the prevailing floating rate.

Kotak Mahindra has increased its auto loan rates by 50-100 bps. With this hike for super premium cars, the rates would now be 9.25-9.75%. For premium segment cars it would go up to 10-10.25% while for lower end cars the rates would be 10.75-11%.”

The hike is due to Reserve Bank of India policy rates change. During the Union Budget 2010-11 presentation, there was a symptom of hiking in the loan rates. The hike will create more crisis and inflation in Indian economy rather than relaxation.

Union Budget 2010-11 is nothing but collections of data

2010-02-26T09:44:00.000-08:00

Today, 26th February, 2010 Pranab Mukharjee introduced Union budget 2010-2011 that was nothing but collections of data. He just figured out the area in which he has to invest some capital.

You can see it as:

Vision:

GDP Growth to be targeted at 9%

Target of Rs 25,000 crore disinvestment

Inflation Rate to be lowered in 2 Months

Banking:

Additional Banking License to Private Banks

Rs 1,200 crore to be allocated to PSU Banks

Banks for all villages with a population of 2,000

Infrastructure:

Rs. 1.37 lakh crore for Infrastructure development

Railways to be allocated Rs 16,772 crore

Road Development allocation Rs. 19,894 crore

NREGA Allocation at Rs 40,100 crore

Bharat Nirman Yojna – Rs 48,000 crore

Goa – Rs 200 crore special package

Education:

Rs 31,036 crore for School Education

Sarva Sikha Abhiyaan – Rs 36,000 crore

Housing:

Indira Awas Yojna to Rs 10,000 crore

Rs 61,000 crore for rural Development

Social Sector:

Farmer Fund for Women – Rs 100 crore

National Health Insurance Scheme for NREGA Workers

Technology:

Rs 19000 crore for Unique ID Project

Rupee to have new Symbol

Expenditure:

15% rise in plan expenditure

Defence – Rs 147,344 crore

Taxation:

Income up to Rs. 1.6 lakh – no tax

Income from Rs. 1.6 lakh – Rs 5 lakh – 10% tax

Income from Rs 5 lakh – 8 lah – 20% tax

Income of above Rs 8 lakh – 30% tax

Corporate Surcharge reduced from 10% to 7.5%

Minimum Alternative Tax increased to 18% from 15%

Excise Duty hiked from 8% to 10%

Service Tax remained at 12% for Goods

No Service Tax on News Agencies

Petrol, Diesel Prices to go up

It was overall data which introduced by Pranab Mukharjee in parliament for 2010-2011 union budget. We already have seen last year union budget 2009-10. Now, common people are suffered from the raise in prices but there is no data in this budget how to control it.

Unemployment and recession is the biggest problem for common people but there is no data how to control it. Is it common man budget? I don’t think because today prices of petrol and diesel hiked near about Rs 3.

On the one hand, accumulation of capital is getting gathers but on the other hand, common people are getting poorer. In the system of profit, there is no way to win over recession. Therefore, now there is only way – production and means of production go in social hands.

About One Lakh Job Opportunities in IT Companies

2010-02-14T22:34:00.000-08:00

To improve economic conditions, IT Companies may hire about one lakh workforce. Indian IT players will hire nearly one lakh work force to improve economic conditions of India.

Recently, an analysis about the hiring plans came in light. According to the analysis, IT companies may hire more than 98,000 headcounts in coming future. In this scenario, it is considered that the industry is back on track with many projects.

In the recent prospectus, TCS may hire about 30,000 workforces in next fiscal year. However, Infosys has planned to hire 16,000 people this year. On the other hand, Genpact would hire 10,000 people.

In this lists, IBM is looking to recruit about 5,000; Accenture 8000 and Mphasis 2000. It is being estimated that the domestic IT market will get a growth about 19-20% in 2010. However, in 2009, the growth was only 2.6%.

The fact is very vague now because there is no real recruitment currently. Currently, unemployment is the biggest fact for Indian workforce. It is very similar to boom in Indian property market of 2009.

So called boom in IT market will clear very soon when end of the year we will get a real facts and analysis about unemployment and hiring.

According to our analysis, we don’t see any scope in IT recruitment on so large scale. In 2009, hiring freeze, layoffs and salary cuts was a common problem. More than one lakh real workforces were deducted from IT companies.

If, IT infrastructure has given a new face of Indian workforce or people then it had minimizes the scope of jobs also. Overall, it is not a boon rather than difficulty for Indian employers.

Analysis can gives many data but the reality of IT companies is very clear to us from beginning of 2008. We already have seen many analysis and data in 2008 and 2009 also.

Airfone Launches Cheapest Dual SIM Phone AF11 in Indian Market

2009-11-29T23:28:00.000-08:00

Recently, Airfone India Pvt. Ltd has introduced a new mobile phone – AF11. The phone is launched by a new generation mobile phone company for new generation customers. AF11 is the most economical dual SIM mobile phone for Indian market.

According to the Mr. Vishal Chitkara who is the Director of Airfone says, “Our focus is to bring in the latest technology to provide our customers world class mobile handsets at local prices. AF11 is our latest offer to theIndian market, for commencing our aggressive expansion plans in major cities in India.” The news is published by Mediamughals.com which is a technology based web.

AF11 mobile phone is featured with FM, MP, English and Hindi language options. The phone has capacity of 420 standby and 240 minutes talk time. The phone is very simple with simple features but the design of the phone is very stylish.

AF11 is a simple and slim mobile phone. The phone comes in three colours - Black + Grey, Black + Red and Black + Blue.

The major key features of AF11 mobile phone is:

LCD with 1.8 inch TFT screen

Torch

107x45x13.5mm size

1050 Ah lion BL 5 C battery

Dual-SIM card

Dual Standby

T flash slot

The Dual SIM phone is priced with Rs. 1499. AF11 Dual SIM is the cheapest mobile phone for Indian customers by Airfone. Till now, no mobile company has offered dual SIM mobile as cheap as AF11 mobile phone.

Airfone mobile phones will be the biggest competitor for Nokia in Indian market. Indian customers were the biggest fan of Nokia mobiles due to its cheapest price and durable products. Now, if the Airfone mobiles prove its durability, it would surly beat the market of Nokia mobiles because the prices are very low. Till now, AF11 is the best offer of Airfone for Indian customers.

Villages are on the web with Bharti Airtel and Twitter

2009-10-17T01:19:00.000-07:00

Recently, Bharti Airtel signed a big business agreement with Twitter. The business agreement was for SMS tweets. Now the customers of Bharti Airtel will be able to access web by SMS. A customer can reach on web – Twitter by his mobile services.

Bharti Airtel has done the biggest deal with about 110 million subscribers. We should know that mobile subscribers are larger than web users. There are about 1 billion users on the web while there are about 4 billion customers on the mobile services.

Twitter is the world’s largest web to share and discovers what is happening across the world right now. This is micro bloging site which is based on the web 2.0 concept. People interact on the site to share and discover whatever they are doing right now. The concept of Twitter is very unique so, it has already derived millions of people.

People access the web by their mobile also. Now, whole customers of Airtel from India will be able to access twitter web to share their thought and discovering things or to connect with friends.

Mr. Atul Bindal who is the President of Mobile Services in Bharti Airtel Ltd said about the agreement, “We are delighted to introduce the globally popular Twitter service to Airtel users. We have always believed in bringing the best and most innovative services from across the world first for our users. With social media becoming immensely popular in India and across the world, we now empower the Airtel customer community of over 110 million to follow or provide tweets while on the move and at their convenience.” So, the Airtel is targeting to give their customers a new and innovative service.

On the other hand, Biz Stone who is the Co-Founder of Twitter said, “Twitter has mobile DNA given its initial design focusing on the ubiquity of SMS. Working with world class network operators, such as, Bharti Airtel is essential for Twitter to build a valuable messaging platform that facilitates the open exchange of information.”

To register the service, Airtel users can SMS ‘Signup’ to short code 53000. This is same for new users and existing users. Both will be charged Rs. 1. The service is live from 15th October, 2009. There are no charges for receiving an SMS.

This business agreement of Bharti Airtel and Twitter will derive millions of new users on the web. This service will connect villages also on the web. Now, web will be more about and for people.

Indian Property Market Booming

2009-09-10T03:34:00.000-07:00

There is a boom in Indian property market now. It is not the crisis of 2008 now in Indian property market. The market has settled again after Union budget 2009-2010. Now, the property market has made significance around the world.

Recently, sprawling Cuffe Parade flat was sold out in about Rs 93,000 per square foot. It was the second highest deal in Mumbai property market. The first highest deal was at Rs 97,842 per square foot for a flat at NCPA Apartments. A flat has been sold on 19th floor in Rs 28 crore which is about 3,000 sq ft in size but still identity of the buyer is unknown.

A record in residential flats had been made in November, 2007 which was country largest deal in Rs 97,842 per square foot or Rs 34 crore. This was four-bedroom flat at NCPA Apartments at the Nariman Point end of Marine Drive.

So, these are the recorded deal of Indian property market which was dealt by property dealers for NRI. According to the property sources it was jack up prices and ridiculous limits deal.

Now there is a question – is really the property market booming in India or is it exceptional only? Yes, these can be exceptional but reality is very close to its. Indian property market is booming after April, 2009.

There is a great chance of growth in Indian property market. Government has liquidated its money to users and banks have made very easiest process of loan on lowest interest rates. These are the some steps which have been taken from government to solve crisis of Indian market.

Yes, in this process there is single location to invest by users – property and real estate market. So, there is logical way to boom Indian property market but we can’t ignore exception also.

Maruti Suzuki Launches Estilo New Version of Maruti Zen Estilo

2009-08-26T00:32:00.001-07:00

Today, Maruti Suzuki launches its Estilo car. Estilo is new version of Maruti Zen Estilo. It was 1993 when Maruti was launched its ZEN car. In 2006 it launched new version of ZEN – Zen Estilo car. But it was not a successful product of Maruti Suzuki. Initially, it was launched in 3 colours. Now, Maritu introduces a new car which is not ZEN – Estilo. The company is the biggest competitor of Hyundai i10 and TATA’s small cars.

Maruti Suzuki is Indo-Japanese car Maker Company. It introduces new petrol version of Estilo on Rs 3.12 lakh and Rs 3.95 lakh prices. Mayank Pareek who is managing executive officer in-charge of marketing and sales of Maruti, said, “Estilo is a brand in itself and is very different from the Estilo we launched in 2006 or the Zen in 1993.” It means it is really a new product of the company.

Maruti Estilo has 998 cc engine, three-cylinder petrol engine fuel-efficiency and latest emission norms. The model will be produced in Gurgaon where already "A-Star" and "Ritz" products have been manufactured. It has 18.2 km per liter fuel efficiency. New Estilo introduces four more colours - ecru beige, emerald Blue, dusky brown and quantum orange. However, its existing ZEN Estilo colours are silky silver, superior white, bright red and midnight black.

The company has big expectation with this product. Expectation reaches on 3000 to 4000 model selling per month.

It is the biggest achievement of Maruti Suzuki which has changed its old name. It is about 16 years when Martuti has taken drastic steps in its model. However, ZEN was the most popular model of Maruti.

This step of the company will create more competition in car market. This upcoming Estilo car is more attractive than it’s previous. It is perfect in space and design from its previous version.

Union Budgets 2009-2010 Proclaimed the Development of Indian Villages

2009-07-07T00:44:00.000-07:00

Till now, we all aware about union budgets 2009-2010. Yesterday, Pranab Mukherjee presents his 4th budgets in Parliament. Everything was not clear by that budget because presentation was not complete. But now, we have lots of data to analyze the reality of union budgets 2009-2010.

As per the statement of Pranab Mukherjee, “single budget can’t solve our all problems” is clear that he wants to say something more beyond the budget. PM has welcomed this and said that it will develop Indian rural areas. It is the positive budgets and we should welcome it. Lalu Yadav also welcomed the union budgets and said the budget has signified villages.

Congress Party says that the budget is for “Aam Admi”. Let’s see what the reality of the budget is.

If we run through the data then we will find easily there is nothing to stop recession and unemployment. Government has allocated a big amount for NREGA but what about those youth and young who are unemployed? By the NREGA they will give only 100 days guarantee. But what about remaining 265 days? Every year software industry is going in vain; every year lakh of youth being unemployed but government is doing nothing.

Another reality, government has said that every year 1.2 crore employment will be created. But what types of employment, for whom is not clear?

There is a big allotment for common wealth games also but there is nothing to stop higher prices. Every year government announces to reduce electronics prices but still I am waiting for that. There is nothing on the basic education.

Government will try to achieve 9% GDP growth but common people are looking for a job to survive their life. IT sector which cover more than 50% economy, there is nothing about that sectors employees.

Exemption limits have been raised minimal of 10000 for men and women. I think there is nothing for common people even for youth and young also which are base of the country. A large amount of money will be spent in the budget – 10.20 lakh crore.

From my point of view the union budget is for industrialists and capitalists not for common people. Common people will get only a drop of total economy.

HTC Launches Android Mobile in Indian Market

2009-06-11T08:50:00.000-07:00

HTC Corporation has announced to launch mobile phones in Indian market shortly. The Android mobile handset which is based on the open source platform has been designed by global mobile phones designer HTC.

Ajay Sharma who is the head of HTC India told Hindustan Times reporters in Bangalore while launching the smartphone HTC Touch Diamond 2,

"We are part of the Open Handset Alliance (a consortium of software, hardware and telecom players devoted to developing the platform. We will be launching the Android. We have had an overwhelming response with a 300 per cent growth in 2008 over 2007 with a 20 percent market share in smart phones. When is the question but sooner the better,"

He added the statement when asked about the company's plans to launch the Android phone in the Indian market. It was published in HT online news paper.

If you have an Android handset then you can download or install applications without being tied to single vendor conduit.

In November 2007, HTC became the founding member of the Open Handset Alliance. In 2008, HTC launched the T-Mobile G1 in September with Google and T-Mobile. It has been declared the first device to be based on Android globally.

In Indian mobile phones market these android based handsets will be launched by HTC. It would be without presence of Google and T-Mobile in India.

India is still growing market for technology and consumer electronics. The touch-screen trend has led a samarphone technology in India also. HTC will create more competitive market in India also by launching the open source mobile phones.

These mobile phones would be specially, in the competition of Nokia, Samsung, LG and Sony Erission. Indian customers have to wait for this mobile phone till its launch.

Cheaper Home Loans by PSU Banks

2009-05-02T01:38:00.000-07:00

Recently, state-run banks announced to offer cheaper loans rates on the home loans for first five years. The offer is for upto Rs 30 lakh on 9.25%. Currently, this offer is only for Rs 20 lakh on 9.25% interest rates by public sector banks but the scheme will open till 30th June 2009.

After restructuring banks loan slabs the special offer is available for Rs 30 lakh according to the executives. For instance, Corporation bank has replaced Rs 5-20 lakh loan with new slab of up to Rs 30 lakh.

JM Garg who is the chairman and managing director of banks said with ET, “We are working on restructuring of slabs for home loans to bring down the lowest slab to Rs 30 lakh. We find that 75 % of the demand for home loans was in this segment. There is further room for interest rate cuts and our next asset liability committee is to take a call.” It means the loan amount interest rate 9.25% will be only for first five year on the amount of Rs 30 lakh and further will be lowered.

Kamlesh Rao who is the executive vice-president of Kotak Mahindra said about it, “While home loans in the sub-30 lakh category industry is seeing a higher growth of around 10-15%, the Rs 30 lakh plus category is showing a growth of 5-10%.” For the Rs 30 lakh loan amount state-run banks charge 9.75-10%.

For the further, it has been announced that monthly payment on 20 years loan amount of 30 lakh would drop about Rs 500 on cut of every 25 basis interest rates.

IBA (Indian banking Association) has offered some special interest rates also to attract the customers. Upto 5 lakh loan amount PSU banks offer maximum interest rate of 8.5% for the first one year.

Vodafone and MTNL Trying to Lunch 3G Services in Telecom Market

2009-04-19T00:03:00.000-07:00

There is two hot news about telecom industry. Vodafone and MTNL Indian mobile networks are trying to launch 3G services in India. According to recent news about Rs 10,000 crore debts has been raised by Vodafone and Essar group from State Bank of India. The fund will work for plans expansion along with bidding for 3G licenses.

In the PTI news Vodafone Essar spokesperson said, “We will use the loan for various business purposes.” Vodafone offer about 69 million users mobile phone networking services.

Vodafone mainly will work for 3G spectrum by the loan amount. Now, 3G spectrum in India bid price varies from Rs 2,020 crore to Rs 4,040 crore.

In second news MTNL which is the state government telecom services provider announced that it will work for 3G network services in Mumbai next month. It has target about 1 lakh users by next year. However, “Jadoo” 3G network services have been already launched by MTNL in some pockets of Delhi.

Kuldeep Singh who is the MTNL (Technical) Director said in Economic Times, “We will begin aggressive marketing our 3G services when we would have a good user base and cover major parts of Delhi.”

By these two news it is clear that now in telecom industry all network providers want to expand their services for 3rd generation. It is the competition like mobile phones handsets where all handsets are going to be launch touch-screen. In the network services now, even in India there is competition to give the 3G services to its users.

Recession is for longer time in Economical Development

2009-03-07T03:24:00.000-08:00

Recession is not a problem of a short period but also it is problem of longer economical crisis. When we see Indian economy we found that year 2006-2008 recognized as economical development but in real it was not a development. In the capital development there was a seed of economic crisis. Many people are giving many theories but no one talking about capital crisis.

The recession is actually the crisis of capital. The cycle of capital not running easily because over productions have created the crisis. It is the basic things of capitalist systems. Before proceeding towards recession we should know about the capital and economic cycle.

Everyone knows that currently we have been living in market society. Not in a human society where everyone works to satisfy requires of each others. In the market society to survive our live we need a job. But for that job we return more production to our boss. The accumulation of that production increases day by day like Indian economy of 2006-2008. After the huge accumulation we find two pole – one is capital accumulation and another is society without money.

All the analysts of economic crisis are giving the theory to solve the problem for a while but no one wants to solve it permanently because they don’t want. Why they don’t want? They have accumulation of capital and they want to run the society by their market but in the higher stage of capitalism-imperialism there is need to change the society by people not by politician and not by the voting system.

Economic crisis can be solved by the people revolution otherwise the society will run in the crisis. Economic crisis bring the social crisis actually. We can see the cut off jobs, shutting down companies, distortion of technologies etc. All these are the value of society but the society is in the crisis. In the crisis of society we have to see – frustration, madness, robberies, communalism etc. So, there is only one option to stop recession – either change the society or go to hell.

SBI Credit Cards Outlet across the Globe to Handle Business

2009-02-09T06:08:00.000-08:00

In terms of business and market cover SBI has created huge outlet across the globe. You can imagine that how SBI handle its market to grow business rapidly. I am going to share that news here from a credit cards blog. Below is full coverage about SBI credit cards outlet:

"When it comes to the discussion of the most extensive ranges of credit cards that are useful for several kinds of usage then the name of SBI credit cards come on the top.

The financial scenario of India has drastically changed with the implementation of electronic banking. With the blessing of Internet technology, now the banking chores and financial transactions have become much flexible like never before. One of the latest additions in the present scenario of online banking is the credit card. Credit card is basically a plastic made triangle shaped card which is equipped with a unique chip into it. A credit card allows the users to make financial transaction, transfer money, online purchasing and other financial activities with supreme flexibility.

Now you will find hundreds of banking institutions in the country, which offer different categories of credit cards that are specially designed for different types of usages. When it comes to the present scenario of credit card providers, then the names of SBI credit cards come on a remarkable position. The State Bank of India offers an extensive range of credit cards to its customers which fulfill different kinds of facilities to the card holders. Let’s discuss about the various kinds of credit cards offered by the bank to make a clear idea of which would be best suitable for you.

SBI offers its extensive range of credit cards in the names of GoAir SBI card, SBI railway card, SBI Vishal mega mart card, SBI silver cards, SBI social card, Hero Honda SBI card, SBI Gold cards, SBI platinum cards and so on. Different credit cards are designed to help the users in different ways.

One can use the GoAir SBI credit cards in over 24 million outlets across the globe. The users can withdraw cash from 1 million VISA ATM counters. These cards also facilitate you to buy just about anything and let you repay the amount in monthly instalment basis.

The SBI Silver card is a superb type of credit card offered by the bank. The users will get the advantage of cash back in various departmental stores, groceries, restaurant and utility bill payment. By making transaction through these cards the users will get the benefit of 0% fuel surcharge.

The SBI platinum cards are literally the credit cards for the elite class of people. Through these cards, the users will get exclusive travel advantages of cash access across the world, international power points, travel related assistance services and so on.

The lifestyle credit cards of SBI also have world-wide acceptance. The users will also get the advantage of cash on the go. These cards provide the advantage of utility bill payment facility and teledraft facility.

So, from the above discussion one thing is quite clear that the SBI credit cards are available for all sort of financial needs and all class of people. Like such cards, the popularity of the Canara bank credit cards is also on the top among the people of India."

Source Via :SBI credit cards in over 24 million outlets across the globe

Calculated EMI for Home Loans Interest Rate in India

2009-01-10T20:28:00.000-08:00

People say that home loans are easy available now, I am agreed. People say that home loans is now very lower interest, I am not agreed. I am not agreed because here is some cause which I am going to share that. I am agreeing because the crisis of economic has lent the home loan without down payment. Let’s read calculation of EMI for home loans interest rate in India from a blog below.

"Nowadays, in the Real Estate sector there is a revolution for mortgage loan. All the news paper and magazine are with full coverage of lower interest rates for home loans, lower EMI on home loans, lower mortgage interest rates etc. But what is the actual situation have to justify.

According to the SBI calculation on fixed 12% interest rate the EMI will be 867.82 now upto Rs. 5 lakh on per lakh for every month. Old EMI was 1,101.09 upto Rs. 5 lakh for per month on every Rs. 1 lakh. It means, your saving is about 233.37 up to Rs. 5 lakh for every month on per lakh.

For the Rs. 5 to 20 lakh new EMI will be 915.87 per month for every Rs. One lakh rather than 1,101.09 old EMI. It means, your saving is Rs. 185.22 for per one lakh amount if you get the home loan for Rs. 20 lakh for the 20 years tenures.

Overall your saving will be Rs. 185 to 233 for per lakh on the home loans for 20 years. It was the calculation on the basis of 12% fixed interest rate by State bank of India.

What is the reality of these loans? For example you borrow a loan amount of Rs. 20 lakh for the 20 years then what will be EMI?

According to the new EMI calculation you have to pay per month about Rs. 17356.4 if all the circumstances don’t change. However, your older calculated EMI was for Rs. 20 lakh per month – Rs. 22021.8.

You can just imagine that if you buy a home on the amount of Rs. 20 lakh then you have to pay total in 20 years Rs. 41,65,5,36. It means just double amount for that Rs. 20 lakh in 20 years.

So, in the Indian context you can imagine who can buy the flats to take loan by banks! It is the revolution of Indian Real Estate sectors and income and investment of Banks.

Another story says that you can borrow whole amount by banks on 0% down payment. Is it crisis or investment? However, the home loans or mortgage loans trends has been not increased as year of 2006-2007.

Total deduction in the percentage of interest rates is 1 to 1.5. The actual interest rates will follow with the monthly EMI on the basis of loan amounts and loan terms.

All the activities is the result of government pressure on banks due to economic crisis for the liquidate the capital in the consumers."

Source Via :New EMI Calculation for Home Loans on lower interest rates in India

DDA Housing Scheme of 2008 and DDA Flats Scheme Results

2008-12-17T05:30:00.000-08:00

DDA has announced to distribute flats on the basis of housing scheme 2008 in these areas of Delhi - Rohini, Vasant Kunj, Dwarka, Paschim Vihar and Pitam Pura Pitampura, Dwarka, Motia Khan, Paschim Vihar, Dilshad Garden, Vasant Kunj, Narela, Shalimar Bagh, Jhilmil, East of Loni Road, Nand Nagari, Peeragarhi, Sarai Khalil, Rohini, Lok Nayak Puram, Bindapur and Zafrabad.

According to the DDA housing scheme of 2008 about 5020 flats will be distributed in above mentioned areas. All the applications are for 2 or 3 bedrooms flats in various apartments. With the DDA flats scheme registration fee was of Rs. 1.5 Lakhs and about 12.64 lakh application forms were sold and downloaded but finally submitted form were 5.12 lakh finally in different banks which was announced by authorized by the DDA. I think it is the business plans like other investors of real estates.

The flats rates will be Rs 7.95 lakh to Rs 11.90 lakh. According to the DDA official announcement the rate was about 40% less from market. Axis bank, ICICI, HDFC, IDBI, SBI, Central Bank of India, and Union Bank of India were the official announced bank to submit the form of DDA housing scheme of 2008 flats.

It was the lottery for DDA flats scheme in India basically in Delhi. DDA is the official authority for Delhi Development. Who don't get lucky in the lottery of DDA housing scheme 2008 will be gait back their registration money by January, 2009. Who have applied from banks will get their money back with the deduction of 5000.

You can now imagine the housing system in Delhi or all over metropolitan of India with the December, 2008 results of DDA flats scheme. People are much agree to spend their money upto 11.90 lakh rather than 25-30 lakh flats in Delhi. This is the results of hot property in not only in Delhi but also in India.

It is the mortgage scheme of people life not DDA flats scheme. DDA was created in 1957 to promote and secure the development of Delhi under the provision of Delhi Development Act.

The booms and the turns taking place in the real estate sector in India

2008-12-05T06:24:00.000-08:00

The booms and the turns taking place in the real estate sector in India are an aftermath of the things which have taken place all over the world with their effects being financial in nature.

The situation was never so grim before in the world, as it has in the recent past. Many changes and mistakes were made by most of the prominent decision makers all over the world. The economic stalwarts were forced to rethink their processes due to being faced with a situation, which led to financial turmoil. USA, being the source of all this trouble and one of its major victims, is one of the major examples. The worst hit sector there was the real estate sector and the jitters were felt in many countries with a prosperous future with India being one of them.

However, the reader of this article should not be discouraged about the present situation, which has begun to show signs of being on the track of improvement. The changes which have taken place, clearly show this event taking place. The result is the improvement in most of the prevalent sectors bringing in cash to the Indian economy. The real estate sector is one of them, having seen many changes taking place due to variety of steps being taken by the Indian government.

The major entity which perhaps deserves all the credit is the Reserve Bank of India. The steps that have been taken by RBI have led to the Indian real estate sector regaining its composure amidst all this trouble. Some of the steps have been the reduction in the repo rate and a decrease being made in the CRR of Cash Reserve Ratio.

The repo rate is the rate at which banks borrow extra funds from RBI and the Cash Reserve Ratio is the total amount of money that banks have to deposit with the Reserve Bank of India. Therefore the reduction of the interest rate at which banks borrows money from RBI is quite beneficial for them.

The benefits show themselves in the real estate sector with housing loans now being more affordable. This is due to the reason of the interest rate being reduced. This is the rate at which home loans are given by banks. Since they have to pay a lower repo rate, they can afford to give housing loans at decreased interest rates.

Other factors which have taken place have also led to the overall improvement of the Indian economy. The fact cannot be ignored that India too was one of the victims of this financial mass disturbance. However, the financial system being used in India is quite a durable one and is less prone to the effects. Therefore, the recovery time for this economy has been quite short when compared to all the other economies of the world.

Housing loans are, therefore, once again useful resources which can be used for acquiring a house. The apprehension that was present in the minds of the Indian citizens has now started to disappear. One can see this in the rising number of applications being made for taking housing loans.

The overall real estate sector has improved quite magnificently. Most of its facets have started to revel in their once frequent and habitual perfection of performance. The dent has been a hard one, but the work that has been done in order to repair this dent is quite appreciable. The Indian real estate warhorse is once again on its path to glory.

Real Cause of Financial Problem

2008-11-03T04:03:00.001-08:00

I am talking here global financial problem not only Indian financial problem. We know the financial problem of 1929 when the world was in defecate and company were closed tremendously. The financial problem brought 2nd world war also along with to solve financial problem.

At 1st we have to discuss about what is the financial problem. In my point of view it is actually market crisis and products selling problem in the market. Financial problem in its real meaning is not only sensex down it is consumer problem also.

Due to market problem all the things price goes down. But now, we can see there are no any products which prices are down. In the special context of India, market is very slow. The money value is much down in the context of Dollor.

In spite of the products prices are going high. Then we have to think what is the real problem now in the market.

I think the history will clear its scenario. All the things are not clear which is real that profit of company going higher and higher but all the companies announcing that they are in market problem.

What will happen if the market goes down like this?

Economy in Crisis and RBI

2008-10-22T23:37:00.000-07:00

Not only Indian Economy but also in all over world's economy is in crisis. People don't know real problem of economic problems that is why they are talking about population, money and other things but no one talking about capitalist systems who created the problem.

In all over world economic crisis main reason is products consumers are not in market and the product which has been produced are in crisis. It is the main reason. But people think that money is not there in economic crisis.

Recently, RBI has cut its repo rates about (repo) by 100 basis points. It was the decision after the crisis of banks. But now banks crisis is OK but economic crisis is not OK. Lets see what happened after RBI repo rate.

In a statement P. Chidambaram, Finance Minister said, “...RBI has decided to reduce the repo rate under the liquidity adjustment facility by 100 basis points to 8 per cent with immediate effect....” But how effective it is, now undecided.

Economic Crisis and Rivals are in Debate

2008-10-14T23:24:00.000-07:00

Not only America but also all the world are in economic crisis. You can see all the data which shows the unemployment and further will rise unemployment. These data are the indication of economic crisis of the world. In spite of job, there are crisis in all the sector which create unemployment.

What is the reality of world economic no one knows because big gigantic banks are announcing to their bankruptcy. Recently, ICICI share is unexpected down. No friends, it is the crisis of capitalist systems economy.

Among these crisis two rivals in the US election are in debate of economic crisis. About the crisis news.bbc.co.uk writes,

“...Meanwhile, the two rivals have disagreed on delaying a TV debate over the economic turmoil.

Mr McCain said he was suspending his campaign to return to Washington to help agree a deal, saying he feared the rescue package would not pass "as it currently stands".

He also called for his first presidential debate with Mr Obama on Friday to be suspended - something Mr Obama did not support.

Americans needed to "hear from the person who in approximately 40 days will be responsible for dealing with this mess", Mr Obama told journalists.

Mr McCain stressed his desire to help Congress agree a viable deal in a speech on Thursday to the Clinton Global Initiative, a conference headed by former President Bill Clinton, a Democrat.

Mr McCain insisted on clear oversight of any plan, and said no Wall Street executives should profit from the injection of public cash.

But he made no mention of Friday's planned presidential debate, instead praising Mr Obama's decision to join him in Washington to broker a deal...”

I don't think all the crisis debate will only for the election not to solve the crisis of economy. It is not only in the US but also the crisis is in the world.

Global Crisis and US Finance Statement

2008-10-05T22:27:00.000-07:00

About the global crisis there is much discussion and people are afraid about it. To escape the crisis there are some tips by Hindustan Times, “

Product Structures
When an economy adapts a market-led approach to financing assets, the assumption is that risks are priced, spliced, and distributed across several entities. Securitisation of home loans, the subsequent structures and swaps were based on this assumption. The crash in asset values across several balance sheets, when housing prices fell steeply, tests this assumption. Several of our local financial institutions have not even begun to experiment with new product structures. A better understanding of risk will emerge from this crisis and more choices about how we could deal with risks in product structures.

Bail Outs
Proponents of capitalism swear by creative destruction. The cyclical corrections in markets are seen as the much-needed purging of excesses. The events in the US show that the choice between allowing failure as a natural consequence and bailing out a failing entity, is not a simple one to make. The modified capitalism of bail-out based on judgment is something that appeals to our psyche, but is currently applied selectively (Would the bail-out have been the same, if UTI were in the private sector, for example?). Our handling of IFCI illustrates our muddled thinking. Rather than fantasise a world without crisis, we need ability and willingness for swift action.

OTC Vs Exchange-traded
The large leveraged positions in derivatives, which lost value rapidly and triggered losses for several players, is at the centre of the current meltdown. But much of the risk came from the structure and not the product itself. The credit default swaps were not exchange-traded products, but over-the-counter (OTC). This meant that the counter-party risks were high; there was no margining based on open positions; and valuation and liquidity were questionable. India’s exchange-traded currency contract is a great first step. Introducing exchange-traded products in the interest rate and credit markets is the next crucial step for us.

Mark-to Market
The drop in value of assets in the balance sheets of investment banks, banks, investors and others, has led to the plea that ‘marking-to-market’ might not be the correct thing to do. Several are asking for assets to be shown at costs, and for a write-off of the value, after manifestation of risk, through accounting entries in the income statement. This thinking assumes that a risk, unless accounted for, does not exist. We in India subscribe to this view, allowing banks to value assets depending on how they are classified, and keeping most institutional portfolios (like provident funds) at cost. We need alignment with global standards that will emerge.

Regulation
Every crisis creates spill-over of risks from one segment to another. The defaults of global investment banks have spread into money markets. The takeover and conversion of investment banks by commercial banks, creates dual regulation by the Fed and the SEC. Back in India, we have regulators for each type of institution, with limited understanding of the commonalities in functions they perform and the markets they operate in. We need unification of regulation, as has been recommended for a very long time in financial sector reforms.

Size
We may be fooled into thinking that only large-sized entities can extend themselves. The financial sector in India is badly compartmentalised. Several companies clamour to create new banks; many small banks hope to be taken over at good value; some thousands NBFCs operate with limited supervision; existing banks are constrained from expansion; and we are loathe to allow foreign banks in. The growth of multiple small entities, working in the credit markets in their own ways, creates risks and regulatory challenges, about which we may not even know. We need to implement reforms that enable larger institutions, that are easier to supervise. Regulatory and policy resistance to such change, remains a puzzle.

Leverage
Leverage is seen as the villain of the piece. As asset sizes shrink, spreads increase and lenders shy away, the credit markets in the US will shrink. This may lead US into a recession, as much of their growth is credit-driven. Without the advantages of leverage, it is not possible to expand in size, but this lesson may be lost on several regimes like India, which traditionally discourage borrowing. In an economy that needs capital to grow to its potential, we need more long term borrowing options. If we picked up only the disadvantages of leverage, and shrunk back, we might scuttle growth

Currency
Several economies including India, have built up large reserves as a defence mechanism. They also practice various forms of currency management. They will be impacted by the global recession and dollar depreciation.

The current crisis will have its impact on the currency markets. Last time around, we were able to claim ‘insulation’ due to lack of currency convertibility. Given the size of our resources, and the depreciation of our currency, we may need to act. Our stance on global capital flows, capital controls and currency will need review.

The lessons from this crisis will flow in over the time it takes to spill over, initiate another round of regulatory reforms, and create global realignment of macro-strategies. It is up to us to use the opportunity to implement long overdue reform of our systems, structures and institutions.”

Along with about the US finance what the magazine says read from here,

"The amount of innovation taking place, the amount of investment is actually greater today than ever," Gates said.

"Because you not only have more American companies with more scientists and engineers and innovators, but now you have ... people from all over, including lots of people in India and China, now contributing to new drug design, new software design, new energy generation design."

It was the word of Bill Gates about the US finance.

Indian Inflation and Retailers

2008-09-28T22:07:00.001-07:00

Indian Inflation is up to 12.14 per cent till September what will happen next it is undecided because there are still 4 months in this year. It is higher inflation rate in Indian economy. About it HT writes,

“Inflation for the week ended July 12 was revised up to 12.13 per cent from 11.89 per cent.

The annual inflation rate was 3.46 per cent during the corresponding week of the previous year.”

Along with this inflation retailers has some new mantra or tips to sell their products. With the HT in other news you can read also it,

“Driving more consumption in each store and bringing up innovative, profitable formats are the two priorities for Indian retailers today,” said Ireena Vittal, partner, McKinsey & Company.”

It means I have already wrote about industrial growth of India. And now here after all the inflation we are seeing growth in retails market. Then question is why inflation is growing and money where is going?

Industrial Growth in July

2008-09-12T08:31:00.001-07:00

The last July was for Indian industrial growth. It was up to 7.1% however it is lower than last year because in the last year it was about 8.3%. The growth is a breath for Indian government because inflation was tension for the government.

About its growth Hindustan Times writes, “While the manufacturing, which contributes about 80 per cent to IIP, grew by 7.5 per cent in July, compared with 8.8 per cent a year ago, electricity generation was up by 4.5 per cent, against 7.5 per cent.” Hindustan Times is an online and off line daily news paper. Further it writes, “As such, industrial growth turned out to be 5.7 per cent in the first four months of this fiscal, against 9.7 per cent a year ago.”

This analysis can be accurate but what is the cause of industrial growth however inflation was high for the Indian state. It is recent update for last July. In my analysis it is the cause of Bihar flood and nothing else.

Before it there was no scene to invest and growth. All the economy was in inflation and Sensex was down. There was no need of production but now its need has developed because Bihar flood has destroy about 5 lack people home and economy.

Car Market

2008-09-02T23:34:00.000-07:00

In the car market all the big companies are ready to launch their brand after TATA's Nano. Economy is slowdown and car market is also bearish but all the company creating market for car, why? I don't think the economy will cover its inflations after a year but what about car industries.

TATA, Hayndai, Bajaj, Honda, or BMW now all are targeting for Indian market to invest. They are thinking India is in growing market and here small car has more demand but they don't think that after inflations and economical problem what customer are thinking.

I think all the market are in slow down along with car market. A news announced that rather than new car used car on more sell. “In this fiscal so far, we have sold almost 44,000 used cars at a growth of 31 per cent,” said Ravi Bhatia who is the General Manager of Maruti Suzuki India Ltd.

According to review about 78% people are using 1st time buying car while 1.15% is increasement in the used car and expecting it will be about 2.6% by the 2010.

What is statement regarding the inflation

2008-08-24T04:52:00.000-07:00

In the business market and in economy both have inflation. Money inflation of India is in highest position. Government has not idea what have to do because they can’t do anything if they have.

I have already mentioned about government policy and its step to stop the inflation all is useless. Governments don’t want to cut capitalist profit because the government is for capitalists.

Now, to increase six pay scale of government employee it thinks that all the inflation will be solve. They don’t think how many people is government employee. Even they don’t think that how much they have given their incremental.

If government doesn’t stop capitalist profit they can’t stop inflation. In spite of it will be temporary solutions.

Investment of Tatas

2008-08-10T04:40:00.001-07:00

Tata is one of the biggest firms of India. We know, it has Steel manufacturing and other plants in North India. Before some days there was news that Tata will not hike steel prices or you can say that was for all manufacturers that they will not increase steel prices now.

But that was not profit or lost story because I have already mentioned in my previous post that all the company and manufacturers are getting more revenue however Indian economy is in inflation. In spite of this is another matter I am not talking on that and not also about market. I am talking about now Tatas investment.

In recent news Tatas is going to invest about $2 billion in telecom Industry. It is good or bad I don’t know because already in telecom industry there are many big brothers who are taking over each other like – Vodafone, Virgin, Bharti etc.

About the news HT writes, “Tata Teleservices plans to invest $2 billion in rolling out GSM-based mobile phone services and expand its current network of CDMA phone services — a move that would give consumers more options and could help bring phone rates further down.”

I think it is not the 1st investment for Tatas. The company is famous for SEZ also. On the SEZ matter in Bengal there was a great struggle against Tata. Now, it has decided to invest their money in telecom industry.

Dollar is rising

2008-08-03T22:37:00.000-07:00

In the business and market we can't remain without talking about dollar. There is always demand of dollar because all the market of world has been captured by dollor. Some months before Indian rupees were going to strong but soon and dollor was down in India. That time dollor was about 38 rupees of $1. Now it is increased and it is about 42.38 rupees of $1.

Now, in the competition of Euro dollor is also going to rising. Some months before Euro was going to stronger. But now the dollor is back. About it HT writes, “The dollar rose to a one-month high against the euro as the pace of job erosion in the US slowed while a decline in German retail sales indicated economic weakness is spreading to other developed countries.” further it writes, “The dollar appreciated 1 per cent this week to $1.5564 per euro, from $1.5709 on July 25. It touched $1.5515, the strongest since July 24. The dollar dropped 0.1 per cent to 107.71 yen, from 107.84. Japan's currency gained 1 per cent to 167.55 per euro, for the biggest weekly gain since early May. It touched 166.99 on Friday, the highest level since July 17.”

It is clear about dollor now that it is rising. On the other hand Pound is going to weaker. Pound is fell upto $1.9727. Its all showing the market expand of dollor, nothing else.

Why Inflations Pressure is continue?

2008-08-01T02:50:00.000-07:00

Today's news shows Indian inflations is continue. It is now on 11.89%. It has broken all the previous records and all the consumer product is going to dearer. About it Hindustan Times writes, “Inflation is hovering around a 13-year high of 11.89 per cent for the week ended July 12. RBI said that pressures from international food and energy prices have amplified inflationary expectations in India.” It is not only in India but also it is in all over world.

On the one hand inflations is growing and consumer goods are going to be dearer. On the other hand P. Chidambaram has no idea to control this inflations. He is saying to pay all the bills to decrease inflations rate.

An Another story is going with it. All the companies are getting their net profit in this quarter about more than 50% average. What is the cause that consumer goods are going to be dearer, inflations is going higher day by day and on the other hand companies getting profit always. What is the cause behind this?

In this quarter Tata Steel has get about upto 21% net profit, Hidustan Media is on 10% and GAIL is on 31% of rise. What is the cause of its?

Story of Share Market

2008-07-24T23:45:00.000-07:00

When we talk about market or business we can not escape with Share Market. We know, nowadays share market is the process of money and same for being a poor man. The market is much flexible. However, people wants to invest their money in share market. They think it is the fast way to grow money and became a rich person.

So, in Indian context there are a story of Share Market. We know, the year of 2007 was boom for Indian share market. It was just double in its growth. It was broke its record of about 20 years. And in some months it grew as a tremendous and exiting progress.

I am talking about that share market growth which was on boom on 2007. Indian business man was crazy and investment in share was like blowing wind. This is the time when rupees gain and dolor loose. In this respect Indian outsourcing companies was down and employer of that company were fired.

Now, the situations again is same. Now, the share market gain is down and dolor going up. I time was the growing of dolor when Iraq war was in process and America dominance was on Oil of Iraq. Rupees up cause was Indian growing economy by the expert of share markets. But I think it was not real. The real cause was loans. Loans was provided by the bank that is why the market liquidated and growth of share market gone in boom.

Business Reviews Introductions

2008-06-23T02:41:00.000-07:00

Every day you can notice about market and business. Business is in our life to growth of our life. If we want to grow very fast, should be business and market knowledge to invest somewhere and to earn from somewhere. Business news on blogs or magazine today's common because everyone want an update news or reviews about business.

That is why I have created this blog to share business news, reviews, updates, share market, market analysis all the aspect I will cover by this blog. In day to day life we commonly talk about business and business news but we are not much able to understand that.

There is need to understand about investing, earning, and share market.