Economy
Well-endowed pension fund can help capital market growth: SEBI chief
As India does not have too many large domestic institutional investors, a well-endowed domestic pension fund will be the panacea for a robust and sustainable capital market, SEBI chairman U.K. Sinha said on Monday.
 
"A well endowed domestic pension fund in India will be the panacea for a robust and sustainable capital market," he said at an event organised by CII here.
 
According to Sinha, there is a large corpus of Foreign Institutional Investment and a huge window for long-term equity investment in the Indian capital markets for domestic pension funds which can reduce the vulnerability of capital markets.
 
Further, he urged the industry to look at National Pension System of Pension Fund Regulatory and Development Authority (PFRDA) as a social security option for their employees to ensure that large corpus of long term funds are made available for investment in capital markets.
 
"In spite of the new government's pro-development agenda, the enhanced investor confidence and a great budget, the primary markets in India have somehow not picked up till now," the Securities and Exchange Board of India chief said.
 
Speaking about alternate investment fund options available in India, he said the regulations related to Real Estate Investment Trusts (ReITs) in India are in line with some of the best in the world and has the potential to take up a substantial chunk of the capital market here.
 
"SEBI is coming out with regulations on Municipal Bonds very shortly and these bonds will play a very important role in the aspirational 100 Smart Cities mission of the government," he said.

User

COMMENTS

Nilesh KAMERKAR

2 years ago

For growing /developing the capital market and also for offering social security this option given in the link below, is far superior than all the options suggested above . . . लेकिन कम्बख़्त सुनता कौन है???

http://smartinvestor.business-standard.c...#.VRrVEvmUdFY

Move to revive gas-based power will benefit banks: Moody's
Terming the Indian government's decision last week to allow gas-based power units lying idle to import feed stock through e-auctions as "credit positive", rating agency Moody's on Monday said the move will benefit banks as they have significant exposure to such plants.
 
"The government approved measures to revive and improve the utilisation of stranded gas-based power generation plants in the country. This is credit positive for India's banks because they have significant credit exposure to such plants," the agency said in a statement here.
 
Power plants that use liquefied natural gas (LNG) as fuel have been facing significant availability and pricing challenges because actual domestic production of LNG has been significantly lower than the assumptions made when the plants were set up, Moody's said.
 
According to the government, out of 24,150 MW gas-grid-connected power generation capacity in the country, 14,305 MW of capacity has currently no supply of domestic gas and may be considered as stranded.
 
A meeting of the Cabinet Committee on Economic Affairs last week gave the go ahead that will immediately lead to the resumption of power generation to the extent of 14,000 MW.
 
Among the biggest beneficiaries of these measures are IDBI Bank, the State Bank of India and ICICI Bank.
 
Moody's said that importing LNG at prevailing prices has increased generation costs, which has raised prices beyond the reach of buyers.
 
Among Moody's rated banks, IDBI Bank has an especially high exposure to gas-based power plants and would be the key beneficiary of these measures.
 
SBI and ICICI Bank have exposure to the Ratnagiri Power Plant, which is the largest gas-based power plant in the country.

User

Karnataka lawmakers vote themselves hefty pay hike
Lawmakers in Karnataka on Monday unanimously approved a bill that revised their salaries and perks by a whopping 50 percent from fiscal 2015-16.
 
When Law and Parliamentary Affairs Minister T.B. Jayachandra moved the bill in the legislative assembly here for increasing salaries and various allowances of the lawmakers, none of the legislators belonging to the ruling Congress or opposition Bharatiya Janata Party and Janata Dak-Secular opposed it.
 
The bill, which was moved after the budget proposals for 2015-16 were approved, has increased their salary to Rs.25,000 per month from Rs.20,000.
 
Though the salary hike is only Rs.5,000, cumulative allowances and reimbursements have been increased by a whopping Rs.50,000 per month to Rs.140,000 per month from Rs.90,000.
 
Phone allowance has gone up by Rs.5,000 to Rs.20,000 per month from Rs.15,000.
 
Similarly, constituency allowance has been hiked by Rs.25,000 to Rs.40,000 from Rs.15,000 and travel allowance in the constituency by Rs.15,000 to Rs.40,000 from Rs.25,000.
 
Daily allowance within the state has been doubled to Rs.2,000 per day from Rs.1,000 and to Rs.2,500 per day from Rs.1,500 if outside the state.
 
The lawmakers will also get hotel allowance of Rs.5,000 per day outside the state hereafter.
 
Railway travel allowance has been, however, retained at Rs.2 lakh per annum.
 
Pension for former lawmakers has also been increased by Rs.15,000 to Rs.40,000 per month from Rs.25,000.

User

COMMENTS

selvaraj kalimuthu

2 years ago

This type of salary increment is unethical and the law makers should be considered in line with NGO,thus they should not get the salary but the allowance are allowed for the public service .

We need to bring in a system which will fix the salary for the law makers across the state and central govts and should be governed by the which controls the law makers expenses.

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)