DAILY NEWS: OUR PICKS


Moneylife Digital Team 17 July 2012
Axis Bank reported 22% increase in its first quarter net profit. However, its non-performing assets are showing signs of deterioration which is a serious concern Axis Bank’s net profit during the quarter ended June 2012 rose to Rs1,154 crore, registering a growth of 22% year-on-year...

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Rising inflation and fuel prices, which are a direct hit on the wallet, combined with a comparatively low GDP and fall of the rupee have taken a toll on consumer confidence Mumbai: Consumer confidence in India declined for the first time in nine quarters due to a fall in employment...

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The draft “National Strategy for Financial Education” seeks to create a “financially aware and empowered India” and convert savers into investors over five years Mumbai: Financial sector regulators, including Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI) and...

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SBI Life is seeking media support to publicise the one year old SBI Life Flexi Smart variable insurance plan. It seems to be a desperate attempt to entice those who put money in traditional products The PR agency of SBI Life has just sent us an email to help readers understand the one...

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Moneylife Digital Team 16 July 2012
EAS Sarma, former secretary to the Government of India, in his letter to the prime minister said political clout of an individual (Jindal) cannot and should not be allowed to cover up criminality of this kind EAS Sarma, former secretary to the Government of India, has called for an...

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When launched, it would be just the third mutual fund scheme to be notified as a pension fund Reliance Mutual Fund recently filed an offer document with the Securities and Exchange Board of India (SEBI) to launch a notified tax savings-cum-pension scheme—Reliance Retirement Fund. The...

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Rajan Alexander 16 July 2012
Developed countries are left scot-free and it is always a developing country that is targeted by the West's Trojan Horses-NGOs. No wonder, citizens of developing countries demonstrate guilt complexes over their own impact on the environment Every year the National Geographic conducts...

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The hefty FII inflows have not resulted into a upward movement in the broader market with the Sensex down about 200 points, or 1.2% so far in the month   New Delhi: The investment by overseas investors into Indian stock market since the beginning of 2012 is set to cross the $10...

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While Andaman Islands is India’s territory, the government should discuss the development of the Agalega Islands with Mauritius at the DTAA review next month which would be mutually beneficial to both countries In his recent visit to India, Dr Arvin Boolell, foreign affairs minister of...

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Public sector banks themselves must handle their NPAs by strengthening their recovery departments to minimize the role of borrowers and their cohorts masquerading as experts who derive undue benefits from a well intentioned scheme. This is the concluding part of a four-part series The...

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Ramesh S Arunachalam Ramesh S Arunachalam 16 July 2012
Microfinance investment vehicles control huge capital and by virtue of that they are often able to channelize cross-border flows significantly. These and related institutions should come under proper regulation, reporting and disclosure requirements I recently read a book, “Confessions...

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Moneylife Digital Team 14 July 2012
After successful seminars at Gurgaon, Bengaluru, Kolkata, Chennai and Hyderabad, Moneylife Foundation in collaboration with IndiaBulls, conducted its first seminar at Ahmedabad and the response was overwhelming For this flagship seminar, “Investor, Empower Yourself”, Moneylife Foundation...

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Moneylife Digital Team 14 July 2012
EAS Sarma says that the government should make a sincere effort to stop Kalmadi from attending the Olympics. India would have gained global credibility by boycotting Olympics in the first instance, he feels EAS Sarma, former secretary to the government of India, has appealed to the prime...

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A staggering Rs2 lakh crore stuck in the Debt Recovery Tribunals reveals the failure of this well-intentioned legislation. The is the third part of a four-part series Let us now examine the fate of one other well-intentioned legislation, “Recovery of Debts Due to Banks & Financial...

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Moneylife Digital Team 13 July 2012
HDFC Bank’s net interest margins remained stable during the June quarter, at only 4.3%, underscoring the challenging times ahead for banking industry HDFC Bank's net profit for Q1 ended 30 June 2012 was Rs1,417.40 crore, 30.6% over the corresponding period last year. Its net interest...

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The writer describes the days when he began his working career—the pitfalls, the challenges and successes. These last two chapters form the epilogue describes the unknown triumphs and travails of doing international business An initial overseas assignment for three years became extended...

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While genuine customers are made to run around for opening new accounts, banks continue to encourage dubious accounts knowing fully well that they are used to launder black money A bunch of tech-savvy thieves has been exploiting a design flaw in the working of automated teller machines...

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Being frustrated by the lack of opportunities to grow in the organisation, SEBI’s VRS scheme is used by good officers to exit and join stock exchanges or market intermediaries In April 2012, SEBI offered a voluntary retirement scheme (VRS) for employees above 40 years who had completed...

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Marshall Allen (ProPublica) 13 July 2012
After eight years, the US hospital that performed Jerry Carswell's autopsy acknowledges it has his heart, but still won't give it to his wife   After more than eight years, Linda Carswell finally has proof: According to photographs submitted as evidence at a recent court hearing, her...

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Vinita Deshmukh Vinita Deshmukh 13 July 2012
Is it a crime for a Central Information Commissioner to call for an enquiry if he finds allegedly forged records submitted by a PIO? A Delhi HC order which has given a stay on a PIO’s petition will have far-reaching consequences for a citizen who has the right to get information within 30...

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