BONDS, CURRENCIES & COMMODITIES


AK Ramdas AK Ramdas 13 September 2013
There appears to be no other suitable alternative but accept or introduce a dual exchange rate to be kept operational for a year at least In the last six months, the rupee has lost 13.83% of its value and after touching a low of Rs68.85 against the US dollar, is slowly recovering. Its...

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AK Ramdas AK Ramdas 12 September 2013
Favourable monsoons have brightened the possibility of foodgrain export in order to reduce the current account deficit- CAD for India. While prices fluctuate in the international market, export we must Although some parts of the country did not get adequate rainfall, India experienced a...

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Moneylife Digital Team 11 September 2013
SEBI renews MCX-SX recognition but directs the bourse and its Clearing Corporation to strengthen governance structure in a manner that Jignesh Shah’s team virtually loses management control or core decision-making powers to a team of directors    In a late night development, the...

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Vivek Sharma Vivek Sharma 10 September 2013
The managing director went on record to say that NSEL has sufficient stocks in warehouses to cover the entire open exposure and in the event of any default, stocks will be sold to fulfill payment obligations. The hollowness of this claim is an open secret now.   “The Company’s...

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Moneylife Digital Team 10 September 2013
Traders are facing destruction of black pepper or kalimirchi stock, worth about Rs300 crore traded on NCDEX that was found to contain carcinogenic mineral oils   Pepper traders have welcomed commodity market regulator Forward Markets Commission (FMC)'s decision instructing...

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Raj Pradhan Raj Pradhan 06 September 2013
Tax-free bonds are back with better opportunities than were offered earlier this year. In December 2012, there was expectation of interest rates heading south. They did, for some time, but suddenly, with the rupee plunging, interest rates are now heading north. As a result, bond prices...

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Moneylife Digital Team 05 September 2013
NSEL said it is in the process of providing an exit window for investor to liquidate the e-series units and realise cash payments Crisis-ridden National Spot Exchange Ltd (NSEL) on Thursday said that its stock positions of gold, silver and platinum, for e-series contracts tallies with...

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Debashis Basu Debashis Basu  and   Aditya Govindaraj Aditya Govindaraj 04 September 2013
Customers of some of the biggest names in the Indian broking fraternity who aggressively sold NSEL’s borrowing-lending racket are staring at large outstanding in NSEL. Clients of Anand Rathi Commodities stand exposed to over Rs600 crores while those of Indian Infoline stand to lose over Rs300...

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Moneylife Digital Team 04 September 2013
It now appears that the former CMD of SIDBI was appointed as additional director on FT board on 22nd August but on 27th August he submitted his resignation without any explanation for this sudden exit! Jignesh Shah-led Financial Technologies (India) Ltd (FT) appointed N Balasubramanian...

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Sucheta Dalal Sucheta Dalal 04 September 2013
Indian Bullion Markets Association was one the biggest borrowers from the borrowing/lending racket of National Spot Exchange Ltd, amounting to Rs1,159 crores. With a name like that, was this group of company of Financial Technologies, the promoter of NSEL, masquerading as a trade body,...

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Sucheta Dalal Sucheta Dalal 03 September 2013
The Financial Technologies group has always managed to get generic words as company names, with Registrars violating their own guidelines. Use of words like ‘National’ for National Spot Exchange are illegal too The National Spot Exchange Limited (NSEL) scam is unusual in many ways....

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Moneylife Digital Team 02 September 2013
Financial Technolgies' notice for AGM does not even mention NSEL. Meanwhile, Ravi K Sheth, a longtime director and confidant of Jignesh Shah, has decided not to seek re-appointment Financial Technologies (India) Ltd (FT), the promoter of scam-ridden National Spot Exchange Ltd (NSEL) does...

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Moneylife Digital Team 02 September 2013
With the worsening current account and fiscal deficits and rushed policy-making, Nomura feels that Indian economy will have a tough time bouncing back, with balance of payments issues to be the cornerstone of her recovery In a Special Report, Nomura Singapore is bearish on the Indian...

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Sucheta Dalal Sucheta Dalal 02 September 2013
The NSEL scam only happens to be the biggest of the multiple scams that have hit the commodities markets, thanks to poor regulation Prime minister, Manmohan Singh, likes to blame all the lapses of his government on ‘coalition dharma’. Well, in addition to the long list of scams and...

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Moneylife Digital Team 28 August 2013
While regulators, investigation agencies are apparently working hard at tracking Rs5,600 crore that seems to have vanished from NSEL without a trace, the 'investors' who are fighting for their funds held a unique protest outside the exchange plaza -- almost every one of these protestors are...

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Moneylife Digital Team 28 August 2013
At least eight foreign currencies, including Isle of Man pound, Gibraltar pound and Jersey pound currently trade over the 100 mark against the Indian currency. While euro and Jordanian dinar are in 90s, there are about 50 foreign currencies trading at over 50 level against the rupee Even...

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AK Ramdas AK Ramdas 28 August 2013
While the rupee is touching new bottoms every day against the US dollar, the number of fake currency notes in India is increasing. Even the Security Press is printing blank notes. Can the new governor of RBI look at polymer currency notes? Dr Raghuram G Rajan, Officer on Special Duty...

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Moneylife Digital Team 27 August 2013
In the Harshad Mehta scam bankers were issuing fake bankers receipts or BRs, representing government securities. But while BRs were accepted on the basis of trust, NSEL created the illusion of a 'trade guarantee fund' which has mysteriously vanished History never repeats itself, but it...

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Moneylife Digital Team 26 August 2013
NSEL said these five defaulting members did not have adequate commodities in the warehouses, which is against the mechanism specified in the Exchange circulars National Spot Exchange Ltd (NSEL) said it has filed complaint against five of its defaulting members before the investigation...

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Moneylife Digital Team 26 August 2013
National Bulk Handling Corp said its exposure in NSEL is less than 3% of its total warehousing stock National Bulk Handling Corp Ltd (NBHC) on Monday said that the company and National Spot Exchange Ltd (NSEL) are totally different entities and it does not handle NSEL warehouses except...

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