DAILY NEWS: OUR PICKS


One of the key risks posed by the bank subsidiary model is that the parent bank is directly exposed to the functioning of various subsidiaries and any losses incurred by the subsidiaries inevitably affect the bank balance sheets. Such risks can be mitigated largely by the FHC structure, the...

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Moneylife Digital Team 22 March 2013
Nifty is oversold and will rally next week once it closes above 5,690 The market settled in the red on global concerns and domestic political worries, making it the sixth consecutive closing in the negative and the lowest closing since 26 November 2012.   The Nifty is oversold and...

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Moneylife Digital Team 22 March 2013
Electronic postal order is a big achievement for Indian citizens abroad who have been pressing the government for the last five years to facilitate them in nation building by exercising their right to know The Postal department (DoP) has launched Indian postal order in electronic format...

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Moneylife Digital Team 22 March 2013
When online payments are expanding at a phenomenally high growth rate of 30% every year, does it need the “artificial push” from the banking regulator? And that too at the cost of the banking public, majority of which is still dependent on the chequebook system? The Reserve Bank of...

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Moneylife Digital Team 22 March 2013
While the UIDAI has maintained Aadhaar is voluntary, why then people are being threatened that they cannot access any services or benefits unless they enrol for the UID scheme, the PIL says   The Bombay High Court today directed the Unique Identification Authority of India (UIDAI) and...

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Moneylife Digital Team 22 March 2013
EAS Sarma, former power and finance secretary, fears for safety of nuclear energy because he feels the Department of Atomic Energy that is planning for 60,000 MW has not been transparent and it would eventually cost Rs3.90 lakh crore to Indian taxpayers! EAS Sarma, former secretary of...

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Moneylife Digital Team 22 March 2013
A citizen can seek information under the RTI Act, irrespective of his official designation. Also information about a dead person’s PF account and his contributions can be disclosed, as such disclosures cannot be considered invasion on the privacy of the dead, ruled the CIC. This is the 62nd...

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The power of RTI was realised by this citizen who followed Moneylife’s instruction to use RTI, as he was unable to get his passport, despite police verification having been submitted Ever since Moneylife has begun the passport campaign, it has been urging passport applicants to file an...

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Moneylife Digital Team 21 March 2013
Moneylife Foundation was joined by members of All India Bank Depositors’ Association, Mumbai Grahak Panchayat, All India Bank Employees’ Association and Mumbai Mahanagar Vyapari Seva Parishad in its campaign against the RBI’s foolhardy proposal to disincentivise the issuance and usage of...

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Moneylife Digital Team 21 March 2013
To remove the propensity of cooperative banks to follow borrower-oriented policies rather than policies that protect the interests of the depositors, it is necessary to have new a organisational structure of the Board of Management and Board of Directors The Working Group (WG) set up by...

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Moneylife Digital Team 21 March 2013
Nifty will try to find a foothold around 5,600 and attempt a rally till 5,700 in a laboured manner   The market decline continued for the fifth day, paring its gains in the second half of the trading session, on weak global cues and selling in rate-sensitive sectors. The Nifty will...

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Moneylife Digital Team 21 March 2013
Overruling the PIO’s claim for exemption citing Section 8(1) (j), the CIC said it was unthinkable how a person can invade his own privacy. This is the 61st in a series of important judgements given by former Central Information Commissioner Shailesh Gandhi that can be used or quoted in an RTI...

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There is no denying the fact investments in equity is a must for wealth creation but if the performance of the stock market continues to be as pathetic as it has been in the recent years, retail investors will continue to keep away from markets For retail investors, the experience of...

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Moneylife Digital Team 21 March 2013
The apex court while commuting death sentence of 10 other convicts to life imprisonment said all convicts including Sanjay Dutt would have to surrender within four weeks The Supreme Court on Thursday upheld death sentence of Yakub Abdul Razak Memon, while commuting death sentence of 10...

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Stephen Engelberg (ProPublica)  and   Robert Socha (Special to ProPublica) 21 March 2013
Three American companies are cooperating with a Polish investigation into how the companies won lucrative contracts to upgrade Poland's technology In the buttoned-down world of government officials who oversee computer contracts, Poland’s Andrzej Machnacz cut a colorful figure. He...

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Moneylife Digital Team 20 March 2013
Manappuram crash testifies what Moneylife has been saying for a very long time—that gold-loan companies are built on extremely shaky and fragile foundation with poor supervision   The share price of Manappuram Finance is down nearly 30% in just two days, tanking to Rs24.60 from...

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“Every gun that is made, every warship launched, every rocket fired signifies in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed”— Dwight D Eisenhower   I was pleasantly surprised to see Gujarat chief minister Narendra Modi last...

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Moneylife Digital Team 20 March 2013
According to the petition, Sahara India Pariwar and Subrata Roy have used words as if SEBI is not a regulator and a statutory body but is a rival company and a private entity Lucknow-based Amitabh Thakur, an officer from the Indian Police Service (IPS) and social activist Dr Nutan Thakur...

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Moneylife Digital Team 20 March 2013
If the Nifty stays above 5,720 tomorrow a short rally is likely. A close above 5,745 will mean a continuation of the pull-back. On the downside, the support is at 5,660 The market settled lower as the political logjam in Delhi ignited worries about inflows from foreigners and a...

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Moneylife Digital Team 20 March 2013
The cost of funding remains high for Indian banks, as deposits have lagged behind credit growth which curtails their ability to lower lending rates, says Nomura Global Economics Research Despite the Reserve Bank of India (RBI) cutting the repo rate by 25 basis points (bps), lending rates...

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