Posts Tagged ‘credit’

Thomas Cook Spikes up on CRISIL’s Rating

Thomas Cook (India) is currently trading at Rs 70.50, up by 2.40 points or 3.52% from its previous closing of Rs 68.10 on the BSE.

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The scrip opened at Rs 69.00 and has touched a high and low of Rs 71.45 and Rs 68.60 respectively. So far 379951 shares were traded on the counter.

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The BSE group ‘B’ stock of face value Rs 1 has touched a 52 week high of Rs 78.50 on 14-Jan-2010 and a 52 week low of Rs 51.15 on 03-Nov-2009.

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Last one week high and low of the scrip stood at Rs 73.00 and Rs 67.55 respectively. The current market cap of the company is Rs 1489.78 crore.

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The promoters holding in the company stood at 77.23% while Institutions and Non-Institutions held 0.85% and 21.92% respectively.

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Credit rating agency, CRISIL has reaffirmed ‘AA-/Stable’ rating to Rs 6.80 crore proposed long term bank loan facility and Rs 158.20 crore cash credit and working capital demand loan of Thomas Cook India..

The ratings reflect the company’s leading position in the foreign exchange (forex) business in India, and its strong brand equity. These rating strengths are partially offset by the susceptibility of the company’s business to the external environment, and the company’s moderate financial risk profile.

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Thomas Cook is a part of the Thomas Cook group. It operates in the forex and travel services businesses.

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Set Up New Financial Plans After A Divorce !!

Set Up A New Financial Plans After A Divorce

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You need to do long term financial planning when you are going through a divorce.

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It’s important that you recover from the split by assessing your situation as singles and setting up new financial plans with a focus on longevity.

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Here are five simple steps for building your financial future after a divorce:

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1. Start with a plan.

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Take a look at your finances before the divorce and then subtract what you’ve lost to give you a good perspective on your fiscal situation.

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Be realistic with yourself and set a budget that you can easily manage with your new single status.

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2. Check your credit.

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Maintaining your credit is an important step in walking away from a divorce financially intact.

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Examine your credit reports and ensure that any name changes or card closures are accurate and taken care of.

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3. Ensure your retirement.

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Confirm that all of your retirement arrangements are intact and that any assets or funds you are entitled to have been taken care of.

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Division of savings and accounts should be paramount in your review.

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4. Obtain the necessary insurance.

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Examine your insurance policies and make sure that you and your property are still covered.

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5. Review your taxes.

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Understanding the tax ramifications of your divorce is a key part of planning for your financial future.

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Confirm that all tax responsibilities between you and your spouse are coordinated appropriately.

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PM Adviosry Panel Suggests Drop in Inflation Rate to 7%

PM Adviosry Panel Suggests Drop in Inflation Rate to 7% by March End

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The Prime Minister”s advisory panel said inflation could fall to 7% by fiscal-end, in the midst of projection that inflation could touch the double-digit mark.

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However, noting that food prices which have pushed inflation to 7.31% for December are expected to ease in the coming months stated PMEAC Chairman C Rangarajan.

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Whereas, the Reserve Bank of India (RBI) should take some money control measures to tame the rising prices.

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Meanwhile, his optimism is in contrast to alarming projections given by market analysts.

Citi said that if the uptrend seen in fuel and metals continues, inflation could enter the double-digit range in the coming months.

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HDFC Bank Economists stated that inflation is expected to touch 8.5% by March-end.

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Moreover, Rangarajan said the rise in inflation is mainly because of the increase in prices of food articles, which is largely due to supply shortfalls.

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Rangarajan expected the RBI to take back some special refinance facilities from the system while the RBI has projected inflation to be around 6.5% by this fiscal-end.

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The RBI had offered refinance facility to various sectors of the economy, faced with credit squeeze in the economy due to financial crisis that broke out in September 2008.

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NABARD Favours Increasing Credit Flow by Rs. 10,000 cr. in 2010-11

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the country.

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NABARD favours increasing credit flow by Rs. 10,000 cr. in 2010-11

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NABARD favours increasing Credit Flow by Rs. 10,000 cr. in 2010-11

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Chairman of the National Bank for Agriculture and Rural Development (NABARD),Umesh Chandra Sarangi on Wednesday stressed the need for enhancing the credit potential in the State by at least by Rs. 10,000 crore in 2010-11 over the previous year’s Rs. 27,543 crore.

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NABARD’s regional office has estimated a credit flow potential at Rs. 31,254.74 crore for 2010-11.

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Crop loans of farmers affected by floods would be rescheduled.

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These credit estimates provided the basis for preparation of district credit plans by lead banks in each district, he said.

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In Other major Commodities Updates we have news of Agri Commodities turning bearish since the beginning of the new year and downward revision of reserve price of wheat by the Centre.

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Agri commodities FALL on global cues

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Barring wheat and sugar, all other agri commodities have turned bearish since the beginning of the new year, providing much needed relief to consumers and policy makers.

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Prices of agricultural commodities have declined by up to 11 per cent since January 1 which analysts attribute to a downward turn in the global markets.

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Also, fresh arrivals, including pulses, have provided relief to the government.

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New pulses crop arrivals have started in Maharashtra which, for sometime, will keep prices under pressure.

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Delay in government tenders coupled with higher quotes kept wheat prices firm while unavailability of cane for crushing pushed prices of sugar up.

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Lower price of wheat cheers roller flour mills:

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The roller flour mills in Punjab, Haryana and Chandigarh got a new beginning in the new year with the downward revision of reserve price of wheat by the Centre for bulk buyers.

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The price cut of Rs 200 per quintal under the open market sales scheme(OMSS) from Rs 1,440 per quintal to Rs 1,240 per quintal has helped over 80 roller flour mil is in the region to streamline their operations.

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Under OMSS the states are given a specific quantity of wheat.

Punjab got 140,000 tonnes and Chandigarh got about 14,000 tonnes.

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The roller flour mills and big chakkis get an allocation of about 1,000 tonne per month at the price quoted in the tender.

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The price at which the millers buy wheat under OMSS is slightly higher than the reserved price but substantially lower than the price offered by private players.

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RBI’s Monetary Policy – Analyst View

Hello Friends, last month we witnessed loads of action with the RBI’s monetary policy being laid down.

Just an extension of our previous blog “RBI’s Monetary Policy Stance – Part 3.

 

 

Analyst View RBI policy

RBI Monetary Policies and Projections Part 4

 


In this Blog we would read the Analyst views with respect to the monetary point of view.

Analysis from the Analyst from monetary point of view:

Though there is a hike in SLR to 25 % but we think it will not have much more impact because the total investment book of commercial banks is already at 30.4% of total NDTL.

Although key rates of CRR, reverse repo and repo rates have been left unchanged, special repo facilities have been withdrawn.

Real estate loans provisioning are set to become more expensive.

NPA norms for banks have been tightened while liabilities of scheduled banks arising from transactions in CBLO with Clearing Corporation of India Ltd. (CCIL) will be subject to maintenance of CRR.

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The RBI is thus attempting to withdraw liquidity from areas where excess liquidity had reached a point it was more than comfortable with, while also targeting better quality management of credit.

Another point is that in the policy stance, RBI has given first priority to keep a vigil on trends in inflation and to be prepared to respond swiftly and effectively through policy adjustments to stabilize inflation expectations.

Second, it will monitor the liquidity situation closely and manage it actively to ensure that credit demands of productive sectors are adequately met while also securing price stability and financial stability.

Lastly, RBI will maintain a monetary and interest rate regime consistent with price stability and financial stability, and supportive of the growth process.

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In conclusion, it bears emphasis that the Reserve Bank is mindful of its fundamental commitment to price stability.

It will continue to monitor the price situation in its entirety and will take measures as warranted by the evolving macroeconomic conditions swiftly and effectively.

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To conclude all the factors it seems that with the withdrawal of special liquidity measures together with an imposition of CRR in borrowing in CBLO market, RBI has taken a first to step towards controlling liquidity.

 

With prioritizing inflation it is expected that the next step of RBI could hike in CRR as it has also reduced the indicative growth of Broad money to 17% from 18%.

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Note : For More Finance Gyan, Latest Industry, Stock Market, Economy News and Updates, please click here


RBI And Its Policies – Part 1

Hello Friends, last month we witnessed loads of action with the RBI’s monetary policy being laid down.

However here we bring more on the RBI policies and projections.

RBI policies and projections

RBI policies and projections

 

The Reserve Bank of India (RBI) laid the groundwork on Tuesday i.e. on 27th Oct in its monetary policy for a rise in interest rates by tightening credit to the commercial property sector, lifting its inflation forecast and warning of the threat of asset price bubbles.

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The RBI had injected in massive liquidity in the banking system in the past one year or so to help revive the domestic economy in the aftermath of the global financial crisis.

For now, the Reserve Bank has decided to keep the policy repo rate unchanged at 4.75 per cent, the reverse repo rate unchanged at 3.25 per cent and the (Cash Reserve Ratio) CRR of banks unchanged at 5 per cent of their (NDTL).


The following measures constitute the first phase of ‘exit’:

– The Statutory Liquidity Ratio (SLR), which has earlier been reduced from 25 per cent of NDTL to 24 per cent, is being restored to 25 per cent.

-The limit for export credit refinance facility, which was raised to 50 per cent of eligible outstanding export credit, is being returned to the pre-crisis level of 15 per cent.

The two unconventional refinance facilities:

(i) special refinance facility for scheduled commercial banks; and

(ii) special term repo facility for scheduled commercial banks [for funding to Mutual Funds (MFs), Non-banking Financial Companies (NBFCs), and Housing Finance Companies (HFCs)] are being discontinued with immediate effect.

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Further, the liabilities of scheduled banks arising from transactions in Collateralized Borrowing and Lending Obligations (CBLO) with Clearing Corporation of India Ltd. (CCIL) would now be subject to the maintenance of the CRR.

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Stay Tuned for more on this in our coming blogs.

We would cover Monetary Projections of RBI and Economy scenario and indicators at the moment.

Banking To Turn More Customer Friendly ;)

banking-customer-friendly

The Banking Code and Standards Board of India (BCSBI) revised the Code of Banks’ Commitment to customers, in consultation with the Reserve Bank of India (RBI) and IBA.

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The move will make banking more customer-friendly, as it promises more transparency in banks’ functions and dealing with the consumers.

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The reviewed code leads banks to disclose complete information on interest rates, including reference rates to which floating rates of interest are linked.

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In addition, banks are also required to display customer centric policies on cheque collection, compensation and grievance redressal on their website.

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Besides, they need to provide Most Important Terms & Conditions (MITC) to customers who have applied for credit facilities by way of loan or credit card and also update immediately on website, any changes in terms and conditions of products and services offered.

The banks are also required to compensate customer, apart from these, for delayed collection of cheques and also reimburse erroneous debit from ATM transactions.

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RBI‘s active interest in raising standards of banking services is in line with the need to improve the customer banking experience and iron out anomalies that impede with customers’ rights.

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However, the concerned revisions in the banking code have come after sustained complaints from customers over lack of transparency in certain banking issues.

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