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Best & Worst Mutual Fund Schemes

The best# three and the worst three schemes over the past three years, in different...

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Government considering additional capital infusion in public sector banks

PSBs will require an infusion of Rs2.4 lakh crore in equity by 2018 to comply with international standards laid out by the Basel III regulatory regime

 

The government is considering additional capital infusion in public sector banks (PSBs), according to a Union government official. The capital infusion will help the lenders boost credit amid rising bad loans. Bad debts accounted for 4% of total lending as of 31 March 2014, according to Reserve Bank of India data.

 

The government may almost double the amount of capital it will inject into PSBs this fiscal year to Rs21,700 crore, according to the government official.

 

PSBs will require an infusion of Rs2.4 lakh crore in equity by 2018 to comply with international standards laid out by the Basel III regulatory regime. This is the forecast as per the Budget Speech made by the Finance Minister earlier this year.

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Stock Manipulation: Shreejal Info Hubs

Shreejal Info Hubs went up 1700% in 15 months

 

Shreejal Info Hubs (Shreejal) claims that it is into information vending and financing business. Looking below the surface, we found that Shreejal has a murky past. First known as Cellulose & Chemicals, its name was changed to Ask Me Info Hubs in 2007. Two years later, the company came to be known as Shreejal Info Hubs. In 2006, Shreejal was debarred by the market regulator for three years as it was found indulging in non-genuine trading transactions, giving misleading appearance of trading and manipulating its own stock price. However, the order was revoked by the Securities Appellate Tribunal in 2007 as “it could not be said that the appellants were responsible for any manipulation in the scrip of the company.” So much for our regulations! Let off the hook, price-rigging is rampant again seven years later.

 

Over the past 15 months, the stock moved up by an unbelievable 1700% or 17 times. As expected, fundamentals have no relation with the price movement. With average quarterly revenues of Rs3 lakh-Rs4 lakh, Shreejal reported negligible profits in the past three years.

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