As anticipated dollar is appreciated to almost Rs.60.
This is routine formalities which is done in India after every devastation.Eighty Six (86) years old Mr PM is not like young USA president Barak Obama who will go in flood hit area and spend time with relief and rescue team at zero ground level as we saw in USA recently.But bad luck of this country that we only have old age stock of so called able leaders and we do not like to have young energetic Prime Minister.
What is the point in IT raiding SRM group when all the leading educational institutions are backed by powerful politicians. This is just an eyewash !!
The Government both at the Central and State failed in regulating the fee / donation structure of educational institutions. With school fee from Nursery level to PG level it is rampant and minimum amount spent is close to INR 1,00,000 irrespective the class in which your child studies.
Its a doubt, u have given % of Assets, Means The UTI fund holds that much % in the given Company is it? Pls throw some light on it!
let us pledge to reduce the inefficient and easily replaceable consumption of forex needing stuffs and services like oil, bullion, electronics, Chinese, foreign travel, services and foreign grown food specially edible oil etc and to use their Indian substitutes by same or more amount to help Indians, Indian economy and INR. There are hundreds of ways by which we can do it. Pledge today at least for one way. A trillion acts are done by 1.25 billion Indians each year to waste forex as we use forex about Rs 40 trillion each year. Even the poorest can help and HNI can be most helpful. Come on.
Pitty, the roads and traffic situation hasn't improved significantly since 2006.
Khargeji Bhadayi ho,There are so many expectations on u,as u all know about the average rail track in Karnataka campare to other states
Gulbarga and Mangalore Should be made as new railway division in our state.Once again Congrats ....
This is a welcome discussion!
I often let the ladies keep the rhythym and they are invariably better at it. The traditional vocabulary of leader and follower burdens the guy with far too many things and the lady might feel left out.
Also, just avoiding the use of words "leader" and "follower" will involve the lady more and enable her to execute the lead instead of doing what is "correct".
We are really saddened reading news of rain havoc and land slide devastation. I was looking picture of collapsed bridge in Rudraprayag.What a shame that we can spent thousands crores of our hard earned money on politician visit abroad and political rallies in India but we could not spent few crores on making these bridge strongest bridge having so much importance for pilgrims and which looks a temporary bridge in picture( i am sure you will all agree after seeing collapsed bridge picture). After few days of normalization ,we all people will forget these devastation. Both politician and bureaucrats will start eating their share of cake out of flood relief aid, which they will get from centre, and the people will wait to hear next devastation news in coming years.
Please share this water to all over India, food prices will go down because of increased cultivation. Many areas in India are without adequate drinking water, water for irrigation, why waste so much water when we have the resources now.
It is not necessary that Being an RBI Governor,you become an economist who can study the grass root cause of the problem.Mr.Governor,you have said that interest rate can not be brought down due to rising food price even though the industrial growth are slowing down and one of reason of slow industrial growth is of course the high rate of interest as we can not compete with international trade because interest rate there is less then 2% as compare to 12 to 13% in India. Have you ever given reasons to public as to why food prices are rising? The food price are not rising due to lower rate of interest( your theory is that if rate of interest is reduced ,people have more spare money to spend on food),food prices are rising due to 1.2 crore population growth.I am questioning you Mr RBI Governor to answer my this question if I am wrong. Secondly Mr Governor you must understand why our food production increase is not proportionate to population increase.This is also due to the fact that the high interest cost to farmer is making their cost of production high and their financial viability is not sustainable.
I would like to ask CEOs of bank to suggest the ways to help cut in deposit interest rate and then cut in lending rate.Most of the senior officials of Banks are engaged in just flattery to ministers and RBI officials .They do not have their own ideas and views and if they have they do not have courage to put them before Ministers and RBI.
It is also a fat that banks may not reduce interest rate only by reduction in Repo rate or Bank rate or CRR cut. They may not bear the consequences of cut in deposit rate permanently even when RBI starts paying interest on CRR fund. During last one year RBI has brought down Repo to a great extent, but bankers could not cut their interest rate. Banks are though free to cut in deposit rate or lending rate , but they cannot do it .
If bankers really want cut in deposit rates they will have to enhance their CASA volume and for this purpose they will have to improve customer service. It is only the share of CASA which enables the banks reduces lending rate under present scenario. If they reduce rate on savings deposits they will lose their depositors and hence face erosion in growth and hence the capacity to reduce lending rate. , Few private banks have already adversely affected the CASA of public sector banks because interest rate offered by private sector banks is higher than that by public sector banks. Banks will have to make effort to increase their base of CASA to reduce lending rate. Advantage of rise in CASA business and reduction is lending rate in gradual way is that there will be addition of more and more customers in their fold. IN brief, when lending rates are lowered by banks, they will get additional CASA by addition of more and more corporate business.
Secondly option is that RBI will have to take back freedom given to banks for deciding their own interest rate structure and RBI in turn will have to decide uniform national structure keeping in view the economic situation of the country, saving rate, external situation, foreign debts, current account deficit, asset liability mismatch, inflationary pressure etc. RBI will in this way get success in stopping inter bank rate rivalry and stop transfer of loan accounts from one bank to other on the ground of lower lending rate. Banks will stop giving concession to borrowers sacrificing the profitability of banks.RBI thus will be able to force banks to focus on those sectors for which lending in more important in the interest of nation. They will be able to stop multiple financing and excess financing to ill-motivated borrowers and thus help in reduction of bad loans too.
As soon as the uniform rate mechanism put in place by RBI, bankers will stop interbank rivalry in interest rate competition and will focus in their standard of customer service to attract more and more saving depositors and more and more business men to improve their current deposit share. As CASA improves, profitability of banks will start improving.
Lastly banks will have to improve quality of lending so that ratio of nonperforming assets i.e. NPA comes down and the burden of provisioning is reduced. Banks will have to remove and punish bank officials who are engaged sanctioning new loans after taking bribe and costly gifts. Banks will have to stop giving promotion to flatterers and bribe earners and those who extend red carpet welcome to executives .
Further government will have to empower banks, make their legal system tight and effective, force the police and administrative machinery to help bank in recovery of loan from recalcitrant borrowers and punish advocates, valuers, judges, magistrates and police officers who in nexus with bad borrowers do not help banks in recovery of loan , rather help bad borrowers and thus contribute in rise of bad debts and increase in provisioning load .
Government will have to stop misuse of banks for political gain. They will have to put indirect or direct pressure on banks for financing to business houses of their choice and they will have to stop recommending waiver of loan of borrowers whom their ministers and political workers like. They will have to stop building pressure on reduction of NPA through the route of compromise settlement with bad borrowers for political advantage.
Here It is important to point out that a few years ago , i.e. almost upto the year 2010 most of public sector banks use to book considerable growth in business and growth in profit .
Even though banks use to offer higher and higher rate on bulk deposits and offer Sub PLR rate on loans they sanctioned to corporate and retail sector. Higher rate on deposit and lower rate on lending was the key to success upto the year 2010. RBI and Ministry of finance could not understand this magic of bankers at least upto the year 2010.
If any honest and skilled office investigates to find out the reason behind such magical growth despite mismatch in interest rate, they will find that bankers at the helm of affairs are in general are fraudulent minded. They are good manipulators of balance sheet. They know the art of window dressing in deposits. They know the art of increasing advances in the month of March to achieve the target to get the appreciation of Ministry.
Almost upto the years 2010 i.e. upto the time of implementation of CBS technology in banks, majority of bankers thought it wise to ignore RBI prudential norms for income recognition and asset classification. They use to teach subordinate and guide them in business meeting not to declare any advance account as NPA till they verbally allowed them to do so. If any Branch head declared advance account as NPA as per RBI norms, he was punished by rejection in promotion process and by transferring his services to remote and critical post. They treated all advances standard and hence did not need making any provision towards bad debts, they saved provision in maintaining NPA coverage ratio and they save loss of money towards waiver of loan or sacrifice in compromise settlements.
If the accounts are standard, provision will be nil and profit will be more. This was the key behind magical growth in deposits, advances and profit of the banks upto the year 2010 despite higher rate on deposits and lower rate on advances. In addition bankers did not make adequate provision towards future liabilities arising out of pension load, terminal benefits accrued to staff and other relevant expenses. They knew the art of gifting team of Chartered Accountants to get Certification from them they every rules are followed and every policies of RBI are complied in true spirit so far as asset classification and income recognition are concerned.
Obviously all problems started when reality started coming on the surface when RBI built pressure on bankers to use technology in identification of NPA and maintain adequate provision to adhere to RBI stipulated NPA coverage ratio. Problems got aggravated when RBI tightened the screw of bankers who indulged in large scale restructuring to conceal bad assets. And now banks are appearing as sick in public domain, bankers are making false excuses to hide their fraudulent culture and corrupt practices. Now they say that global recession and high rate regime are prime cause for their lower profit and lower credit growth.
This is why I use to say that if doctors fail to identify the real character of sickness, the diagnosis prescribed by doctors will also be useless and ineffective. This is happening in banking industry too. Every top banker is accusing RBI for not reducing interest rate. But I have no hesitation in saying that until true reasons are identified, none of regulators can stop sickness of banks going from bad to worse.
Look at our imports 100 times value added crude which can be replaced by solar, coal and electricity. Useless, life threatening bullion which has got scores of better indigenous substitutes, electronics which changes every day , goods from china engaged in proxy war against us, costliest foreign tours , services , grown food. We ignorant misdirected 125 crore Indian are indulged in a mad rush for costly , forex needing , subsidized , scarce and inflationary types of stuffs and services ignoring their better substitutes . Even after the request of government we purchased double of our average monthly gold purchase. We are not doing anything to substitute costly oil by infinite indigenous cheaper energy sources and are increasing oil dependence. We use LPG and kerosene of 35 billion dollars each year facing all types of corruption and scarcity but never use free infinite solar and free infinite low grade coal as their substitutes. We are wasting almost all our money and time on electronics which is almost entirely imported. We have allowed Chinese stuffs to completely replace our markets. We love foreign destinations, education and foreign grown food which are costly and not suitable for India totally ignoring infinite Indian and suitable substitutes. I will request every Indian to use right stuffs and services for the nation..
sir when the sbi assistant 20682 will come .
great and well thought plan congratulations to all associated with this. keep up the good show indian railways
This is nothing but fight for Muslim Votes.Nitish Kumar,Lalu Yadav,Paswan,Mulayam Singh Yadav,all these people are real enemy of Muslim as they all want to divide this Muslim Community from rest of India just to grab their vote.All Muslim should come together for India unity and they should slap on the face of all these leaders who wants to treat Muslim vote bank as their assets by separating them from rest of country.Let all Muslim rise to say INDIA IS ONE AND WHOEVER TALK FOR MUSLIM VOTES BANK TO WIN ELECTIONS ARE REAL ENEMY OF THIS UNITED INDIA.
"All said and done, BJP needs fresh blood and Modi is one capable of infusing it. Since coming back to power in 2009, the Manmohan Singh Government has only got from bad to worse. Each passing day sees new scams rolling out of the cupboards. " this is the one word from hindu. very glad..... sometimes sun rises in west too. hindu says the truth too.
thank god, thank modi has the blessings of the almighty to lead the nation.
It is none of our business. I say let them figure it out on their own.
These engineers and MBA's are only degree holders and not employable in their respective fields so they opted for these jobs.They are lucky to get selected.
its really awesome to see new planets for 1st tym ...
I'm a Wall Street Investment Banker.
I'll donate $300 million USD for creating an Independent Nation for India's Untouchable People as per "Communal Award".
Google "Independent Nation For 300 Million India's Untouchable People"