Indian Rupee gets a symbol. Congratulations 2 all Indian around world. India joined list of countries whose currencies have a unique identity.
Tag Archives: Finance
Good Morning friends,
Diwali vacation is over for businessman and routine started. Yesterday was the first working as as it iwas Labh Pacham. Fifth day of the New Year. Traditionally, from New Year day till fourth day, business remains closed. It’s on fifth day majority businessmen open their business. Some also go on seventh day. Majority of people go with fifth day.
We also open our business yesterday.
Things look good this new year. If I talk about India, BSE Stock index Sensex crosses 10000 again. It was below 8000 before diwali. In one week it added 2000+ points. It’s good sign. On other side, government also taking good actions like reducing CRR to 5.5 is really a good step towards adding more liquidity to the banks.
New Year looks good as on today. One more positive sign is that today Finance Minister P Chidambaram will meet a panel of bankers today, to review the current economic situation. He is likely to tell the public sector banks to bring down interest rates in order to boost flow of credit to the industry. Let’s see how it work out and help the industry as well as individual.
‘The survey suggests that reasonable liquidity has already been infused into financial system as thousands of India Inc’s applications are pending with banks for sourcing loans. This fear psychosis needs to be removed from banking system with constant monitoring from the RBI on banks extending loans,’ the survey report said.
According to the report, 54 CEOs expected a 100-basis-point cut, while 27 CEOs said the RBI would slash it by 50 basis points.
Of the total respondents, 63 percent maintained that the repo rate at eight percent was still at higher level when compared to the rest of the world.
They said a further rate cut would boost the industrial growth and help foster employment prospects.
‘The industrial growth this fiscal has been a worrying factor for the economy. The industrial growth as shown by the Index of Industrial Production for August has slowed down to 1.3 percent, one of the worst performances on record,’ the report said.
The central banks across the world have taken unprecedented actions by cutting their key interest rates to significantly lower levels to deal with financial crisis. The RBI has followed suit with a 250-basis-point cut in the cash reserve ratio and a 100-basis-point cut in the repo rate.
Good Evening Friends,
Thursday at Dow Jones it was crashing day. Dow Jones fall down and enter below 9000. Thursday down dow was reflected in Indian stock market. I just read news that sensex crashes 1,088 pts. I don’t know where this is going to stop? How invester going to survive in stock market?
The Bombay Stock Exchange (BSE) benchmark Sensex on Friday tumbled by nearly 10 per cent to 10,239.76 in opening trade.
The 30-share index, which had nearly lost 1,730 points in the past five straight sessions, plunged by 1,088.60 points, or 9.8 percent, little away from hitting the lower level circuit of 10 per cent, fixed by authorities.
The National Stock Exchange (NSE) index Nifty moved down by 314.70 points, or 9 per cent to 3,198.95 with all the heavy-weight stocks trading in negative zone.
Infosys Technologies fell by Rs 54.35 at Rs 1,200 despite better quarterly earnings.
Besides, other losers were Reliance Industries, Reliance Infra, RCom, ICICI Bank, State Bank of India, Bharti Airtel, Satyam Computers, Tata Consultancy, Wipro, BHEL, Larsen and Toubro, Grasim Industries, HDFC Ltd and ACC.