Fwd: Today's Exclusives - RBI raises key rates by 50 basis points; hikes savings rate after 19 years

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From: Moneylife <noreply@moneylife.in>
Date: Tue, May 3, 2011 at 7:28 PM
Subject: Today's Exclusives - RBI raises key rates by 50 basis points; hikes savings rate after 19 years
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3 May 2011   Moneylife Exclusive RBI raises key rates by 50 basis points; hikes savings rate after 19 years Moneylife Digital Team Central bank pegs GDP growth rate for current fiscal at 8% against government's projection of 9% ...   Highlights of RBI's monetary policy Tight monetary policy necessary to tame inflation: FM Bank loan to MFIs is priority sector lending: RBI RBI calls for immediate hike in prices of petro products RBI to extend short-sale period for G-Secs to three months     Exclusive Column     Futile Central Registry Rules impose a heavy burden on banks Vinod Kothari The SARFARESI Act does not fulfill the purpose of registration of security interests. For, the Central Registry does not guarantee reliability. Therefore, the law as it stands is a futile and very costly exercise...       Other ML Exclusives   Daily Market Report: Share prices reel under RBI policy pressure Sell the rallies. The next support for the Nifty lies at 5,300... ................................................................................................................................................ Akshaya Tritiya: Inauspicious for Mumbai realty sector? With the RBI tightening interest rates further, it's doubtful that the traditional occasion for new beginnings will change much in the troubled sector...   Climate change, mitigation anyone? What use is it to talk big things like a Green Fund and technology transfer when most of the actions on the ground require good governance and no extra money? It's troubling to see that even as all cities in the developed world have climate change plans, Mumbai with world class aspirations cannot think beyond 'antique' lampposts... ................................................................................................................................................ Behavioural finance: Home-country bias The government has allowed foreign nationals to invest in Indian mutual funds. The idea will hit a natural wall... ................................................................................................................................................ Steel demand in India to grow faster by over 13% this year: World Steel Association The global body expects strong growth in the use of steel in the country due to its strong domestic economy, massive infrastructure requirements and industrial expansion. Demand in developed economies slowing... ................................................................................................................................................ Collecting: Madness, method & money Successful investing in collectibles demands not just passion but also a canny method, Moneylife finds out, after spending hours with a top collector Rajan Jayakar ... ................................................................................................................................................ Star HD: High-def headache! The Star advertisements for its new high-definition broadcast system are a good example of poor advertising. For, you cannot use TV as an education medium. People watch TV to be entertained and not to learn science... ................................................................................................................................................ Personal finance today Kotak MF launches close-ended debt scheme Savings bank interest rates to go up Bank of India plans to re-enter mutual fund business   At a Glance   - HC issues contempt notices to nine sacked AI pilots - Air India announces 'no work, no pay' as strike continues - India to make rupee payment for Iran oil - Adani bags lease for Australia's Abbot Point Coal Terminal     Corporate Wrap-up   - Firstsource to acquire 74% stake in Lankan BPO unit - Dabur acquires '30-Plus' brand from Ajanta Pharma - Tech Mahindra starts BPO operations in the Philippines   Moneylife Columns     VIP: All madness, no method Anil Thakraney The over-the-top craziness of the new ad totally hijacks the product, which is reduced to being a mere prop, instead of being the central character. That's an advertising crime...     Right to Information: Don't take it lightly if you are told that a file is "missing" Vinita Deshmukh In many cases the public information officer might give the excuse that the file cannot be found, simply to dodge your RTI query. Remember, he cannot get away so lightly, for a "missing" document is government property and department officials are answerable for its disappearance...     Face 2 Face   Single-premium ULIPs, highest NAV ULIPs and traditional plans offer less value to customers: Dr P Nandagopal The CEO and MD of IndiaFirst Life feels that savings are not being properly channelled and people are not properly informed and incentivised...   Editor's Pick   Bin Laden hit: The chopper stalled; was blown up The Laden hit mission was a close-run affair. The helicopter carrying Navy SEALs malfunctioned as it approached the compound. The pilot couldn't get it going again. But the team when right ahead and raided the target-but they did not know if they would be able to make it home. In the end, it was Mission Accomplished, Osama was taken out, and the chopper was blown up. ...................................................................................................................................................... The DNA test on Osama bin Laden The DNA tests may not originate from Osama's body itself, but reportedly involve a reference sample from his sister who died in Boston recently. ...................................................................................................................................................... A glimpse of the world's economic future Some of the world's leading luminaries speak at the 2011 Milken Conference on the state of the global economy, and the shape of things to come. ...................................................................................................................................................... Sony is hit again by data hack The company's internal security has been breached again-some 25 million users of its consoles are now at risk. ...................................................................................................................................................... Return on equity is up, but valuations are down The S&P 500 has seen return on equity up six quarters to 23% (it may reach 27% next year, the highest annual level since 2000), but companies are yet to reap the benefits in their stock valuations. ...................................................................................................................................................... Cartoon of the week When there was a leak in WikiLeaks. ...................................................................................................................................................... Book Review   Kill Bill Devarajan Mahadevan You cannot amuse—or educate—yourself with this compilation...   FROM the ARCHIVES   How the T+2 rolling settlement in the equity market is subverted to benefit intermediaries Under the system introduced eight years ago to protect investors, investors still bear the risk of non-payment and non-delivery of shares due to inefficiency of stock exchanges and intermediaries. It is time SEBI penalises those who have benefited from this and compensate investors who have suffered silently... ...................................................................................................................................................... Why are our income-tax and foreign exchange management laws riddled with so many incongruities? Right from the definition of a 'senior citizen' for tax evaluation to the definition of a 'Non-Resident Indian', our tax and forex laws are full of inconsistencies and discrepancies. It is high time the government removed these lacunae...   Forthcoming Events   Investor Empower Yourself, in Delhi, for the first time Moneylife Foundation is conducting a day-long seminar in Delhi, to help investors empower themselves. The event will be held on Saturday, 7 May 2011, from 10am to 4pm. Admission is free. Click here for details and registration ...................................................................................................................................................... How to use the Right to Information Act effectively Mr Bhaskar Prabhu, Convenor of the Mahiti Adhikar Manch, will address a workshop on 'How to use the Right to Information Act effectively', on Saturday, 14 May 2011, at the Moneylife Knowledge Centre. This is the second workshop on the RTI issue in a month following the overwhelming response to the first programme on 16th April. Admission is free. To register, please message us at mail@mlfoundation.in or call Dione/Judith on 2444 1058. Click here for more details.     To subscribe to this free newsletter log on to www.moneylife.in or email us at newsletter@moneylife.in To get FREE updates via sms click here.

 

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