Companies & Sectors
Power Grid plans capital expenditure of Rs1.2 lakh crore; looks at leasing out transmission towers to telecom companies

It expects to generate Rs40 billion from its planned follow-on public offer; admits that a few of its urban projects have been held up due to resistance from locals

Power Grid Corporation of India Ltd, the government-run entity which controls nearly 95% of India's inter-state and inter-regional electrical transmission systems, plans a follow-on public offering (FPO) of 841,768,246 shares at a price band Rs85 (lower)-Rs90 (higher) per share. However, the scrip fell 3.85% to touch Rs98.35 on the Bombay Stock Exchange, and is now at the point that it was three years back.

Retail investors and eligible employees will get 5% discount on the issue price on allotment. The bid period will close for qualified institutional buyers on 11th November, while for the other bidders the closure will be on 12th November. The minimum bid lot has been fixed at 65 equity shares, said the company.

The company is expecting to raise Rs40 billion from the FPO which it plans to use to fund nine transmission corridors. The total project cost for these corridors is pegged at Rs586 billion.

The company also has capex plans of Rs1.2 lakh crore under the XII Five Year Plan (ending March 2017), according to SK Chaturvedi, chairman and managing director, Power Grid.

However, a few of the company's projects in urban areas have been delayed due to local resistance against setting up electrical transmission towers.

"Power Grid is facing some problems in setting up towers in urban areas from local people," admitted Mr Chaturvedi. "But the central and state governments are tackling the issue amicably."

On the delays in projects along the western corridor, Mr Chaturvedi said, "In the western corridor, the projects were delayed due to two reasons- construction of sub-stations and construction of lines. However, our part of construction of the sub-stations was going smoothly, while (the) clients were behind schedule, so the projects got delayed."

For the XI Five Year Plan, the company's capex was Rs550 billion, of which Power Grid has spent Rs250 billion so far and Rs300 billion will be spent over the next two years, said Mr Chaturvedi.

Divestment secretary Sumit Bose, who was also present at the Mumbai conference for declaring Power Grid's FPO details, chalked out the Centre's divestment programmes for various public sector undertakings (PSUs).

"For the calendar year, we will bring (out) FPOs of Shipping Corporation of India and Hindustan Copper Limited and an IPO for Manganese Ore India Ltd-while for the next calendar year, Indian Oil Corporation Limited and SAIL will be on the cards," said Mr Bose.

The company is looking at boosting its profits by leasing its electricity transmission towers to telecom companies for setting up their networks.

"We have invited bids from telecom companies for setting up their networks on our towers and 15th November is the last date for the bidding," said IS Jha, director (Projects), Power Grid. However, he declined to comment on the amount that the company plans to generate from these bids.
 
In September 2007, the company's initial public offering raised Rs29.8 billion.

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Will Mutual Funds now look beyond SEBI?

Fund companies are now becoming increasingly vocal about the maelstrom unleashed by SEBI’s regulatory moves. But do they need to look at their own actions and flawed business models too?

After putting up a brave face for most part of the year about the market regulator's frequent changes, fund companies are slowly but surely exhibiting frustration. While the steady erosion in the corpus of mutual funds has caused some discomfort among asset management companies (AMCs), the recent sharp decline in profits seem to be the tipping point for fund companies. The Mint, which has been an unstinted champion of regulatory actions, naively arguing that they were pro-investor, has now started to voice concerns of the fund companies about the regulator's actions.

Till only a few months ago, AMCs were strangely silent about the whirlwind regulatory changes introduced by the Securities and Exchange Board of India (SEBI). Despite the turmoil that they experienced, AMCs agreed that they would be able to "adjust" to the changes. Now, fund companies are becoming vocal in their criticism of the regulator's actions. SEBI, meanwhile, thinks that companies are coping well with the regulations.

Faced with a sharp reduction in profits amid continuing haemorrhaging of assets under management (AUM), AMCs are not willing to suffer silently any more. Equity mutual funds have witnessed an outflow of Rs29,000 crore so far in this calendar year. Since the ban on entry load imposed by SEBI last August, the total outflow has touched a whopping Rs38,500 crore.

However, this drain was not reflected in the financial results of fund companies for the year ended March 2010. This was because of the phenomenal surge in stock markets that got transferred on to the balance sheet and income statements of the companies. The resulting inflation in the value of AUMs was responsible for the companies showing healthy profits in their books for the last year, since fund companies make a percentage of AUMs. Now however, the story is quite different. The Mint report points out that several AMCs have reported a sharp decline in profits, with some like ICICI Prudential Asset Management Co and Kotak Mahindra Asset Management Co even posting losses for the quarter ended September 2010.

Naturally, AMCs are a worried lot. But while they are fair in their criticism of SEBI's mostly ill-conceived and ill-timed initiatives over the last year, the fact remains that AMCs had it coming for a long time. Among the chief reasons that prompted SEBI to put an end to the entry-load mechanism in mutual funds was the past excesses of fund companies. The boom period between 2005 and 2007 saw AMCs churn out new fund offers (NFOs) at a frenetic pace in a bid to capture volumes and generate more and more AUMs. This came at the expense of product and service quality.

Fund companies were actively encouraging distributors to advise investors to sell their existing funds and subscribe to NFOs. They shamelessly enticed investors with the logic that NFOs were priced at Rs10-supposedly much cheaper than existing units-when actually the issue price of NFOs is meaningless. In order to incentivise distributors to sell these NFOs, funds plied them with lavish gifts and even took them on foreign trips.

Another self-inflicting factor for AMCs has been their flawed business model. The way it is structured is that fund companies are practically at the mercy of distributors to sell their products for them. With little retail contact base of their own, these AMCs are dependent on selling skills of distributors to generate revenues. With SEBI now having dealt a telling blow to the distributor community by taking out their commissions, AMCs are suddenly left without any muscle.
Obviously, fund companies now have to substantially alter their business models to suit the altered landscape of the industry. Otherwise, a wave of consolidation of sorts could very well be on the cards.
 

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COMMENTS

Jayant Dwarkadas

6 years ago

I think the whole scenario is quite ridiculous. The biggest culprits have been banks which distribute Mutual Funds since they have access only to existing clients of the bank and thus they are forced to churn investors money to acheive targets. Individual distributors have to maintain relationships with their clients and cannot afford to cheat them.
Of course AMC's have played a big role by bringing out redundant NFO's but all of them have been sanctioned by SEBI and have SEBI's blessings. As long as the going was good SEBI was not bothered but when markets corrected SEBI and AMC's shifted blame to IFA's who were an easy target.
As an individual distributor I was always advised that investing in equity through Mutual Fund route was the safest way for the retail investor as a fund was professionally managed and extensive research and experience protected the investors money in a falling market. Yet there were very few funds that outperformed markets during the recession and obviously ignorant of the massive fall in markets. Has SEBI taken any steps to penalise Fund Managers for failing to protect investor money. The only thing SEBI has done is penalise distributors for the loss of capital of investors when they are the least to blame.
I once again reiterate that NFO's were all released with SEBI's blessings yet I do not see any action being taken against Mr. Bhave.

Madhusudan Thakkar

6 years ago

Today what has happened to mutual fund sector may happen to Life Industry tomorrow.IRDA has already given enough signals.Life Insurance industry has POWERFUL body like LIAFI and ALICA plus they have agency force of more than 30 lakhs.In mutual funds the IFAs strength is less than 1 lac and it does not have powerful bodies like above.For your kind information these bodies have already contacted Rahul Gandhi and other people of govt. think-tank, that is the main reason why so-called no-load regime has been put to cold storage for the time being in the life insurance sector.Mutual fund also should have something like this.Since there is no concept of "tied agency "in this sector it is difficult to form such body.
Moneylife deserves compliments for allowing this discussion where concepts collided,arguments provoked,ideas flourished that engaged our intellect and enriched our perception.It has been a journey that has made us more wiser and optimistic.
[email protected]

REPLY

Roopsingh

In Reply to Madhusudan Thakkar 6 years ago

Dear Madhusudanji,
if we think rahul gandhi or soniya gandhi wont listen bcos no entry group has already met them-I think it was a past matter-now situation has become worse fro industry also-
we are not opposing No entry load-we only want to tell tem that both options should be made available to investor-after all investor is the best judge for what suits him best-
we just want to get this done-same in insurance sector can also be done-
so putting down all major points which we discuss here all the time-we can send him through a mail-
and if they are really so keen to make investments load free-let it be in all sectors,like stock broking,post office savings ,etc
why it has been brutally imposed only on MF industry.
we have all the truths on our side then why fear to face them eye to eye.kindly give yor contact no.
we will coordinate through mails very soon

Kaushik Halai

In Reply to Roopsingh 6 years ago

I think AMC are still after Banking Channel distributors and promoting mis selling by contests etc for employees , also bank employees who are not AMFI certified sell MF .
Investors also share the blame they do not think while buying MF Insurance from Banks , while the same persons while do a lot of research before buying even vegetables , Grocery, they are not ready to pay for advice

Yogesh

In Reply to Roopsingh 6 years ago

Roopsingh,The main reason for high-handedness of SEBI is because there are handful of distributors who are opposing their action.Moreover they are not organized like above.You will be surprised to know that some distributors will rejoice at the death of mutual funds industry because for them 40% commission is better than 1-2%[For them selling mutual funds is like selling Chaana & Bhel] .Do you know that relatives of powerful politicians[even Sonia Gandhi was LIC agent] and bureaucrats are agents of LIC. These people have discretionary powers and for them selling LIC policies is one form of kickback.We are not naive to think why IRDA has left traditional policies untouched?ULIPs with average first year commissions are banned whereas traditional policies in the name of "cultural heritage" and ethos are allowed to continue.
Media also has double standards towards LIC. Have you seen any adverse comments on LIC endowment plan anywhere?.
SAAB GOLMAAL HAI.

Roopsingh

In Reply to Yogesh 6 years ago

100% right yogeshji-situation is not solving due to vested interests of powerful people behind the scene

shankar

6 years ago

We need a Daam War in our country where every corrupt beuracrates and politician must get killed

REPLY

Roopsingh

In Reply to shankar 6 years ago

I request all other friends to give their contact details through this great platform-so that we can in consultation with each of us can work unitedly.

Roopsingh

In Reply to shankar 6 years ago

Thanks Shankarji for sending your confirmation to support my idea- you from so far of gauhati assam has replied to me through your SMS.i am putting your Mobile no so that the others who want to join us can remain in contact with everyone-pl write down your mail address here so that we can make faster effective communication-
your mobile no is-09864075816

Roopsingh

6 years ago

Dear friends,
i feel we are talking to the walls and striking our heads with stones-so these deaf ears wont hear anything-
so i have a suggestion which can be last RAMBAN-
we should write all these issues to the only one Soniya madam,i am sure this foreign origin lady is much more better then our DESI beurocrats-and also we should e-mail all this to Rahul gandhi,if they ahve to be in power they cannot tolerate issues related to common workers like us-we need not to waste our time writing here .bcos SEBI bosses Mr Bhave and Mr Vaidhyanathan are 100% deaf and blind to these issues-they are bent on carrying out their agenda due to some vested interest-
if most of IFAs like Madhusudanji,keshav bhatji,shankarji,Deepak khemaniji and all other concerned agree for this-we can work out strartegy for mailing our voice to these leaders who will surely look into the issue-this is the last SUDARSHAN CHAKRA which we can use to remove the evils doing injustice to our livelihood which was just 2% hard earned-
pl let me know-
My e-mail is [email protected]
mobile-08866381360

REPLY

Roopsingh

In Reply to Deepak R Khemani 6 years ago

Thanks Deepakji,kindly give yor contact no too-which may be useful in to communicate

Keshav B Bhat

In Reply to Roopsingh 6 years ago

Dear Sir,
I do support your idea and definitly will be avilable to the people anytime for the righ cause of IFA and retail investor welfare.
My email address is [email protected] and mobile no is +919820990209.
Only I dout wether Soniajee or rahuljee will take any interest in our cause as we are not a VOTEBANK for them, but there is no harm in trying.
Regards,
Keshav B Bhat

Prudent investor

In Reply to Roopsingh 6 years ago


2 % of 1 crore is 2 lakh.

I believe it has to fixed price instead of percentage based.

Roopsingh

In Reply to Prudent investor 6 years ago

.5% upfront of a 100 Rs sip is 50 paisa?will investor pay 200 Rs service charge?200 Rs for a 5000 Rs application is 4%.and 200 Rs for a 100 Rs SIP 200%,and durther to note-we are not against direct route to remain alonwith this-the invetsor has option to go direct if he wants to save 2lacs-which he will obviously not pay to any broker
and do u think they ever paid such amount?it was all pass backed in case of HNI investemnts-let the pass backs(big ticket discount ) be made legal-it prevailsin every indstry-whole sale discounts are always there-why not for big ticket sizes? and do not think for 1Cr client-
just think about 1000 Rs SIP investor or Rs 500 SIP invetsor-these inflows have dried up-one crore tickets will be coming and going

Prudent investor

In Reply to Roopsingh 6 years ago

i believe it should be optional fixed price (mutually decided by the AMC and IFA, which should be common to all) included along with the first installment.

Not 2% for all the amount invested via SIP.

Prudent investor

In Reply to Roopsingh 6 years ago

Even no load scenario also SIP are increasing.

http://economictimes.indiatimes.com/mark...

Vivek

6 years ago

dekho bhai log, ham sab imandar hai isi liye mutual funds bech rahe hai, ab jo halt hai vo yehi batate hai ki, hame fees leni chahiye, nahi to ham mar jayenge. mai yahi kar raha hu.

Roopsingh

6 years ago

Those who favour asking seprate cheque from investor should ask manufacturers of all products they use like TV ,mobile,medicines and grocery etc etc-they should ask them that they will pay the trader by 2 cheques-one for the manufacturers based on landing cost of the product at the traders end-and the other for the profit margin of the trader(which should be decided by the user)how much to pay-and people who are in favour of this system please inform me on this website how many cos will give consent for this system-there are hundraeds of products you people are using-just get me 5 names of thsoe cos who agrre to your proposal and i will agree to your philosophy without a hesitation.and if you can't find such product then it is time for AMC's to find the reason ( the reason is that no co will like to die a infant death by adopting this system-so why AMC's not protesting for these moves?(the secret lies in their inner minds which tells them that their busniness will not be affected and technology will help them to get the investor directly without any distribution channels.

jayesh pattani

6 years ago

Mr Roopsinh,
I am not in favour of Share Broker or unfavour to IFAs, because I am Also a IFA, I am in favour of not to race of Brokerage Payment to IFAs from where wrong selling is starting, which was started by AMCs it self from year 2000s a have no comment whether it is from Entry Load or From AMCs, because either or any way all payouts comes only from Investors' pocket. I strongly favor about transparent system.

REPLY

Deepak R khemani

In Reply to jayesh pattani 6 years ago

What is important is that the investor should have a choice, If he is ready to allow 2% to be deducted from his investments and that can be paid to the distributor then what is the problem SEBI has got with this model.Both can co-exist, If an investor does not want services of an IFA let him go direct( MIND YOU THIS FACILITY IS NOT AVAILABLE WITH SHARE PURCHASES YOU HAVE TO GO THRU A BROKER ONLY), however if the investor desires the services of an IFA and does is not averse to ONLY 2% being deducted, that model also should be allowed to continue, here what is happening is that the dictatorial diktats of some babus in SEBI are being thrust upon investors and IFAs from those who have absolutely no knowledge or concern about what the distributors are going through or the irreparable loss they have caused to the retail investor community of this country wherein they have not been able to participate in this fantastic stock market rally in the last 12-18 months, it is only the FIIs who have made all the money and they will go laughing all the way to the bank when the retails investor will jump in right at the end and that too directly in the stock market buying dud stocks on tips and recommendations received by sms.

shankar

6 years ago

Is their any hope of some good news after Bhave leaves his office and the new one joins

Roopsingh

6 years ago

Dear shankarji and madhusudanji,
i agree to you that we have been suggested by Mr Vivek to change business-to me ideas of both of you is acceptable-bcos mehnat ki kamai se to is desh me na ijjat hai,na pet bahrta hai,na gadi chalti hai,to kyo na maovadi ban jaye-kam se kam is desh ke logo ke kuch bhalai ka kam to kar sakenge-me to hamesh mera beta hamesha mujh se kahta hai ki"papa aap to imandari karne ke karan kabhi aage nahi aaye-kam se kam hame yeh bate mat sikhao.ham to kisi ki parwah nahi karenge-jaha hamara fayda hoga voh bindast karenge-"and friends i cant argue him bcos what he says is 100% true-people like we who were working honestly have been punished for no fault of us-and those who dealt with malpractices are eating sweets''

REPLY

Keshav B bhat

In Reply to Roopsingh 6 years ago

Dear all,
It is true there is always Ram and ravan and both of them have their followers. Ravan had all the education and knew all vedas but he and his followers used to enjoy harrasing innocent. same way today with all education and knowledge got the IFAS and the retail investors to harras pray GOD "may ram will appear in some way and finish this present day ravan and his followers at the earliest"
I think QUANTUM MUTUAL FUND is one created by the very ungrateful people in MF industry, they even do not realise that their fund house could enter the MF bussiness because of the hard work of honest IFAs who created awarness about MF among the common people. They bost themselves having saved the investors money avoiding distributors. May I ask one question if it is so where did the money go as i dont find any of their fund performing better. first off all what is their investor BASE? you will find hardly any retail investors go and invest in their funds. Even then they have the courrage to publish all sorts of lies about their performance and investor benefits.
May GOD save us from these people
Regards
KESHAV B BHAT

shankar

6 years ago

Mutual Fund Industry is a small star in the Galaxy(India).Out of 1000 people only 1 person invest in MF.The day is comming when this star is going to vanish in the Galaxy.I am from Ghy,assam...and i know many MBA's,many IAS,doctors,big officers...corporate employees etc who feel afriad to invest in MF.They know nothing...They invest in Post office,banks etc..So I think it will take almost 100yrs for this kind of people to invest in MF.Baki chota chota logo ko leave karo.Who invest.we(IFA) ask people to invest.....
Is desh me agar 2m terrorist bano , khuni bano to bahut kuch milega lekin imandari se roti kamau to laat milega

Vitthal Joshi

6 years ago

SEBI abolished entry loads with effect from August 2009, there have been savings worth Rs 1,260 crore for retail investors in the one-year period since then. Besides, there has been a near 4-fold increase in profit in FY'10 over the previous fiscal and more fund houses made profits during the year.

REPLY

Deepak R khemani

In Reply to Vitthal Joshi 6 years ago

Vitthalji,
You have not read the above article completely before posting your comment, What you are stating is what you have read in the newspapers only.
I reproduce a part of what is stated above for your reference.
"Several AMCs have reported a sharp decline in profits, with some like ICICI Prudential Asset Management Co and Kotak Mahindra Asset Management Co even posting losses for the quarter ended September 2010."
The savings of Rs 1,260 crore is not what the retail has saved but more by HNIs and large corporates.
Retail has been net sellers and not buyers.

Madhusudan Thakkar

In Reply to Deepak R khemani 6 years ago

Deepak Ji you are correct.According to me the main reason for" mint" to publish this story is BECAUSE AMCs are posting losses.These Media people are not at all interested in distributors,small investors participation and deployment of these funds in Indian economy.It only when their advertisers are affected they report such stories.In the just concluded Jt press conference between President Obama our PM MMS wanted Trillon Dollars investments from USA for infrastructure but here we are totally not utilizing the utilized capacity from small investors through mutual fund route so that we don't have to be dependent on USA.Incidentally today's "mint" story is exactly the opposite it" Money" editor Monica Halan has interview with one Nick Cann who is CEO of Institute of financial planning UK where he has mentioned "There is no rethink in the UK about commissions"i.e UK financial products will go no-load from 2012. These type of spin is encouragement to SEBI's action.
I am really disappointed by Monica Ji because She resigned from "Outllook Money" precisely because she felt that advertisers had major say in editorial matters and precisely same is repeated in "mint".Her money show programme on NDTV Profit is co-sponsored by NSE in which Bhave was previously associated.

Rakesh

In Reply to Madhusudan Thakkar 6 years ago

Monika Halan of Mint is a hypocrite. She wrote recently that when she first saw ULIP charges "I fell off my chair." Somebody should have pointed out that Outllok Money under her was writing cover stories every year on Best Ulips! Now she has fits about ULIPs! Please dont believe what she says about why she quit Outlook. Its a lie. Media is worse than the regulator or the politicians in misleading people.

Keshav B bhat

In Reply to Vitthal Joshi 6 years ago

Dear Sir,
Instead of counting the spoiled eggs see the reality if u are a retail investor and stop your imagined calculations for a cheap publicity
Regards,
Keshav B bhat

vivek

6 years ago

i thing u all r waisting ur time in arguing. try to charge fees from clients or go for another business.

REPLY

Keshav B Bhat

In Reply to vivek 6 years ago

Dear Sir,
It is eassy to say go to another bussiness.
But the person who has spent enough time and energy knows the pain of the same.
Just because of these mindless experts it is not just IFAs are suffering, the retail investors themseves are put in to difficulties. To know the suffering of powerty and hunger, you can not experience it by fasting for an hour or two or a day, you have to experience it by the same conditions what common people are going through.
Regards
Keshav B bhat

Madhusudan Thakkar

In Reply to vivek 6 years ago

This is not business .THIS IS WAY OF LIFE[i.e to be concerned about people's financial health] for us.We are not arguing for nothing.We are happy that Moneylife is providing us this forum

Madhusudan Thakkar

In Reply to Madhusudan Thakkar 6 years ago

POST SCRIPT: Vivek Ji you are indeed correct.Have you heard any mother telling her child to become agent when he or she gets old?.Have you seen any school going child ambition to become agent?.We should seriously think of other business like joining Maoists,ULFA ,Let or SIMI.But the most easiest will be "Kidnapping" business.Here we will be at distinct advantage unlike criminals because thanks to our present profession we have access to "realistic" income and wealth of persons and we are also familiar with their lifestyles.So for us "ransom" amount will commensurate with above reality.BIG THANK YOU FOR YOUR SUGGESTION.

On a more serious note I am reminded of quote of C.Rajgopalachari who told Nehru that "Even though majority is behind you.LOGIC IS BEHIND ME".

WE ARE COMMITTED TO AWAKEN "KUMBHAKARNAS" OF MUTUAL FUNDS INDUSTRY.

Madhusudan Thakkar

6 years ago

Today print media has a story about "SEBI wants MFs to spend on investors not DISTRIBUTORS. and has ADVISED MFs to bring down number of agents and distributors".This is classic case of "Vinas kale viprit buddhi".When house is on FIRE SEBI wants "living room to be converted in kitchen".This is bankruptcy of ideas on the part of SEBI.India is a vast country it is only through distributors we can have investors education.LIC model is proof of this.It will be interesting to see response of AMCs,AMFI,etc.

REPLY

Roopsingh

In Reply to Madhusudan Thakkar 6 years ago

AMCs ko agar apni kabar(GRAVE PIT) khodna hai to unhe jarur SEBI ki bat par amal karna chahiye-kuch samay ke bad AMC hi dafan ho jayegi to yeh magajmari hi khatam ho jayegi-mujhe lagta hai-AMCs ko is VINASHAK BUDDHI KO EK BAR JARUR AJMANA CHAHIYE-kyo ki AMC me bhi DURBUDDHI LOGO KI KAMI NAHI HAI-till today no one from AMCs ahs come forward to say soemthing on this burning issue-they wont say till theirsalries are coming-the day they are kicked out-they will realise they dug their own kABAR-

Keshav B Bhat

In Reply to Madhusudan Thakkar 6 years ago

Dear Sir,
It sounds well to say investors to be educated by the AMCs, but unfortunately none of the so called saviors of investors realised how much ever you spend or programms you conduct it is imposible to reach retail customers or potential retal customers as these programs can be conducted in some venue by accomodating few people and first of all working people do not have time to attend such programmes. No dout it can be an opportunity to some experts or CFAs to earn some extra money without benifting anybody. Today AMFI bosts about conducting thosands of such programmes but never say how many people educated by this programme and how many new investos added because of these programmes. I attended few such programmes but i found the atendace is doctored by the programme conductors and just the same people attend the programme everytime. Still shamelessly they boast about it.
Regards
Keshav B bhat

Roopsingh

In Reply to Madhusudan Thakkar 6 years ago

Madhusudanji,at last this all comes at expanse of investors pocket,AMC or SEBI will not do charity by spending on publicity,this man Ravi which posed as champion of investors interest is from quantum MF and they are making expenses by giving net ads(SEE home page ML)-is this reputation they have made -why they have to take help of media?if they are performing so well why dont investors come to lane up in que in their offices?

Madhusudan Thakkar

In Reply to Roopsingh 6 years ago

Roopsingh Ji we should not get provoked by their arguments."Sunlight is a sunlight,nobody can say it is darkness,unless one is blind".It is pardoxical that SEBI has imitated Quantum AMC model.They are blind to see LIC successful model which is tried,tested and proven.By the way many of my friends are very much appreciative about this website but are reluctant to contribute because they feel that their writing language is not good. TO SUCH PEOPLE MY SINCERE REQUEST IS "LEKHNE KE LIYE BHASHA KE JAROOORAT NAHIN HOTI...ideas CHAIYE.".... AM I RIGHT SIR ji.

Roopsingh

In Reply to Madhusudan Thakkar 6 years ago

Madhusudanji, u r absolutely right,BHASHA koi bhi ho bahvna jarur honi chahiye-agar japan,germany.korea,russia english nahi bolte to kya wo kisi se kam hai?english is for knowledge-it can give extra tool to shrpen the brain but one has to have brain-am i right?ask them to right whatever they feel-and i foten advice my fellow friends to write here or atleast make comments-but lazy minds dont respond so easily.

Yogesh

In Reply to Madhusudan Thakkar 6 years ago

THIS IS LIKE ADDING INSULT TO INJURY.The day is not far when it will "BAN" mutual funds citing that "investors should "DIRECTLY" invest in markets" so that their"returns" will not be eaten away by AMCs... Jago AMCs Jago.

India, US considering $10 bn infra debt fund: Sharma

New Delhi: India and the US are considering setting up a $10 billion infrastructure debt fund under the public-private-partnership mode to expedite investments in the infrastructure sector, reports PTI quoting commerce and industry minister Anand Sharma.

The debt fund has been mooted by the India-US CEOs Forum that comprises 12 corporate leaders from each side and it could help India get resources to finance its USD 514 billion infrastructure investment plans.

"Both the governments will consider the recommendation...

It is India-US infrastructure debt fund proposed by the CEO's Forum of $10 billion," Mr Sharma told reporters on the sidelines of a Confederation of Indian Industry (CII) meet here.

"Finance minister (Pranab Mukherjee) and US Treasury secretary (Timothy Geithner) are directly discussing what modalities should be adopted to put in place the infrastructure debt fund," he added.

However, Mr Sharma added that details of the proposed fund would be known after the two countries take a final call on it without a specifying timeline.

"The governments have yet to take a final view and put the modalities in place. In principle it has been agreed that the governments will be fully supportive of the recommendation," Mr Sharma said.

The fund would be operated on the public-private partnership (PPP) mode and it would help in meeting the country's funding gap in the infrastructure sector, he said.

The India-US CEOs Forum is co-chaired by Tata Group chief Ratan Tata and head of Honeywell Corporation Dave Cote. The Indian CEOs include ICICI Bank CEO and MD Chanda Kochhar, Bharti group chief Sunil Bharti Mittal, HDFC chief Deepak Parekh and State Bank of India chairman O P Bhatt.

The US is represented by the likes of McGraw Hill of Companies chief Terry McGraw, PepsiCo CEO Indra Nooyi and Citigroup CEO Vikram Pandit, among others.

India has emerged as an attractive global investment destination as its infrastructure sector alone requires investment of $514 billion for the 11th Plan (2007-08 to 2011-12). Almost 30% of this investment is envisaged to come from private sources.

For the 12th Five-Year Plan (2012-13 to 2016-17), the investment in infrastructure is envisaged at $1 trillion.

Earlier in the day, Mr Mukherjee had said that this magnitude of investment would require innovative modes of financing.
 

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The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
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Stockletters in 3 Flavours
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MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)