Govt to infuse Rs15,000 crore in PSU banks in 2010-11

The infusion will enable public sector banks to expand their credit growth by about Rs1,85,000 crore

The government today approved Rs15,000 crore capital infusion in public sector banks (PSBs) in the current fiscal, a move that will increase the lending capacity of these banks by
Rs1.85 lakh crore, reports PTI.

For the year 2010-11, a sum of Rs15,000 crore is to be infused in Tier-I capital instruments of the PSBs, said an official release after the meeting of the Cabinet, presided over by prime minister Manmohan Singh.

The exact amount, the mode of capitalisation and other terms would be decided in consultation with the banks at the time of the infusion, the release said.

For the year 2011-12, it said, additional capital requirements, if any, will be worked out in consultation with the PSBs based on their third quarter results for the year 2010-11.

The statement further said that infusion of Rs15,000 crore in Tier I capital instruments of PSBs would enable them to expand their credit growth by about Rs1,85,000 crore.

This additional availability of credit is likely to benefit employment-oriented sectors, especially agriculture, micro & small enterprises and entrepreneurs that in turn would contribute substantially to the growth of the economy, the statement said.

The capital infusion would enhance the lending capacity of PSBs that are expected to continue meeting credit requirements of the economy in order to maintain and accelerate economic growth.
 

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Why is Aamirsaab the Samsung Guru?

The ads look pretty jaded and ancient because the use of emotion has been seriously done to death, particularly in the mobile phones category

Samsung Guru has decided to go emotional in its new TV campaign. 'Dil to jeb mein rakha hai', is their bleeding heart punchline. The idea is this: Wherever you may roam (roaming costs aren’t mentioned, of course), you are just a phone call away from your entire ‘khandaan’ and lovers.
 
An old and dated thought, in a world where mobiles have sprouted fancy features like GPRS, MMS, GPS, Bluetooth connectivity, etc, etc? Yes, but Samsung Guru targets the lowest income bracket. It’s essentially talking to the villagers and the lower-lower urban middle class, so to speak. In that context, use of emotional stuff does make some sense. What ‘gyaan’ can you provide on a basic handset? But more on that later.
 
The campaign involves a series of commercials, with a continuing storyline, almost like a TV soap. (Hopefully there shan’t be any fiery ‘saas-bahu’ showdowns in this script!). The ‘mother’ commercial features the 44-year-young brand ambassador Aamir Khan as a fresh grad from a small village. (Another ‘3 Idiots’ hangover). He gets a call while dining with his large family, and announces that he’s landed up a plum job in the city. Aamir’s beloved, a local lass, is obviously heartbroken, fearing losing her love to the big bad city. But the ‘boy’ wipes tears from their eyes. By gifting each member a Samsung Guru. Cool. So now they can always stay connected with him. Especially when the migrant gets beaten by Raj Thackeray’s boys on arrival at the Kurla Terminus. 
 
Two big problems with this campaign: One, the use of emotion has been seriously done to death, particularly in the mobile phones category. Nokia and Airtel have both been there and done that. In fact, Airtel’s effort had a far better emotional quotient. As a result, the ads look pretty jaded and ancient. So zero marks on that score. The other bigger problem is the casting of multi-billionaire Aamir Khan as a poor ‘gaonwallah’. Doesn’t work. When these actors play such roles in the movies, that’s fine, there’s a fictional story being told out there. However, the moment they start hawking wares (and that’s no fiction!), miscasting makes the ads appear incredible and foolish. They needed a fresh face for this campaign. Or at least a struggling Bollywood chappie.
 
The problem is that marketers these days sign up celebrities for bulk packages. And call them ‘brand ambassadors’. And having paid them all that dosh, the temptation is to use them for just about any brand in their mix. Whether the brand-fit with a low-end product works or not. Wonder what next? Salman Khan cast as a beggar when a mobile phone company launches a seriously cheap handset? Hilarious!

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From euro to zero

Moore Capital, a leading global macro hedge-fund firm run by Louis Moore Bacon, has warned of a potential breakdown of the European Monetary Union and has criticised plans to bail out Greece.

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