RBI has deregulated the Savings Bank Interest Rates (read here). I see this announcement as a Deepavali gift to the larger depositor base. While the focus of the media & public has been on the rate hike which will impact the borrowers, deregulation of SB A/c interest rates will benefit a much larger population. Now … Read more
Are we, the people of India, really against corruption and want eradicate it? Looking at the way sections of public has reacted to the current anti-corruption movement, it can be said that most groups are not really against corruption – because they seem to have benefited from corruption a lot. Look how people are raising … Read more
Over the past week I have been reading many articles in the papers about various sections of the public – eminent personalities, so-called representatives of suppressed classes shouting out that Anna Hazare is wrong to force Jan Lok Pal on various counts. Every individual who has commented has looked at it from his/her own perspective, … Read more
When I started writing, I was excited that finally there was a possibility that the Govt. was thinking logically and will try to bring in a way to ensure that the subsidy given for Diesel is not misused by the passenger car segment. However by the time I am finishing this post the honourable FM … Read more
RBI has made 2 important announcements in the past 10days – the recent being increasing the interest rates on Savings Account from 3.5% to 4.0%. This is definitely a good news for the a/c holders, esp. people who maintain high balances. This increase comes after almost 2 decade. The 1st announcement was release of a … Read more
Every minority group and “eminent personality” have trashed the commission report on attacks on Churches in Bangalore where the commission has said Hindu Groups are not to be blamed. Every group has said this report to be politically motivated to protect the Hindu Groups. One fact I do not understand is – “why only reports … Read more
We regularly hear politicians & activists demanding government give “adequate” compensation to people for a calamity or accident or mishap. But if we ask these people how much they have helped the improvished/affected person, we will not receive any reply. Reason – they would have never helped the affected person either financially or even through … Read more
A new service was introduced by National Payments Corporation of India (NPCI) last week – IMPS (Interbank Mobile Payment Service). IMPS enables instant fund transfer from one bank account to another across the country almost instantly. Currently this service is provided by 7 banks – SBI, ICICI Bank, HDFC Bank, Yes Bank, Bank of India, … Read more
2G Scam is the biggest scam to hit Indians. CAG has already submitted it’s report wherein it has pointed irregularities by A.Raja as the Minister and the DoT in spectrum allocation to companies in 2007/08. Opposition has been demanding a JPC probe on 2G Scam and has held Parliament to randsom by not allowing it … Read more
SEBI has increased the maximum amount applicable for retail investors from Rs.1 Lakh to Rs.2 Lakh. There are both positives & negatives of this move. Positive: – It will increase the subscription amount in Retail Category with more investors using the ceiling amount of Rs.2 Lakh Negative: – It will reduce the allocation of shares … Read more