CKSVIM Weekly Finance News Letter 7 to 13 September 2015. th
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PREPARED BY: FINANCE GROUP, MBA BATCH 6 1
News of the Week Gold Monetary Impact :
Gold imports cross 120 tones in Aug, highest so far in FY16
Declining prices of gold in the global market have pushed up imports of the yellow metal to over 120 tonnes in August, the highest so far in the fiscal.
Gold imports stood at 89 tonnes in July 2015. In August last year, the figure was 50 tonnes.
“There has been a steep rise in gold imports, and in August, it was over 120 tonnes, which is the highest in any month in the current fiscal,” an official told PTI.
The rise in imports, the official said, is mainly in anticipation of the upcoming festive season.
“We have to see the trend whether it is alarming or it is just a blip. It is after seeing the trend that we can tweak the import duty,” the official added.
Gold import duty stands at 10 per cent.
There is a huge demand for gold in the country as it is seen as an investment option and hedge against risks. It is estimated that over 20,000 tonnes of gold are lying idle in households and other institutions in India.
The schemes are likely to be operational in the next two months, closer to Diwali, when demand for gold is high.
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News Letter Banking and NBFC:
SEBI to enhance supervision of brokers to check misuse of funds.
Online Tax payment through ALLAHABAD BANK.
SoftBank chairman said to have considered management buyout.
FDI for white-label ATMs may aid Jan DhanYojana, but hurdles remain.
.World Bank report says widespread job restrictions on Indian women.
Aditya Birla Group to apply for NBFC aggregator license
Insurance and Mutual Funds:
Indian Companies Stake Claim to African Vehicle Market
Mutual fund assets set to hit Rs 20 lakh crore by 2018
Debt Mutual Funds: Match holding period with the specific strategy you choose
Indian Prime Minister NarendraModi has set a September 30 deadline for tax evaders who have hidden their money in foreign accounts to come forward. The government‟s efforts to crack down on tax dodging have not been welcomed by the business community.
Fed rate hike could be positive for India
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Financial Regulations:
The Reserve Bank of India suggested a paradigm shift in the financial regulation with setting rules to encourage banks take risks after providing adequate buffer against it.
In a first, the government is considering a revamp of the legal system by giving more powers and responsibilities to the Securities Appellate Tribunal (SAT), a quasi-judicial body, which currently only settles disputes in capital market transactions.
The Indian Financial Code will be introduced in Parliament after the Srikrishna Committee report, Jaitley said in his Budget 2015-16 proposals.
Market watchdog Sebi may soon allow other financial sector regulators to access the centralized database of Know Your Clients (KYC) details of capital market investors.
finance ministry has set up four task forces to draw up the roadmap for creation of a
Capital and Money Market: unified financialsector regulator the Justice BNof rupay. NPCI plansas torecommended roll out threebynew version
JP morgon AMC faces heat after losing 3% in debt schemes.
Financial TATA group finances Reforms lose recovery momentum in FY 15 Srikrishnaheaded Sector Legislative Commission (FSLRC), brushing
Bank of Maharastra to get Rs 394 cr infusion.
SEBI slaps RS 5 lakh fine on jainam share consultant.
aside Reserve Bank of India governor RaghuramRajan's very public criticism of the
Rise in stock market participate from N-E.
proposals.
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Corporate Finance:
Satyam fraud: SEBI asks raju& co to return Rs1800 crore.
BPCL plans to invest Rs1 trillion in 2016-21.
Yatra to launch homestay option.
SEBI imposes penalty on united bank for breaching certain regulations.
HC steers clear of ONGC -RIL dispute
Sun Pharma looks to divest Irish unit.
Top oil exporter Saudi Aramco to open office in india.
LME eyes India to help boost trading
Fiscal and Monetary Policy:
The April-June balance of payments surplus increased slightly to $11.4 billionfrom $11.2 billion a year ago, according to the Reserve Bank of India. Signs of inflation cooling rapidly, from double digit rates almost two years ago, will likely increase calls for the RBI to cut interest rates at its September meeting. The current regime of low inflation is likely to sustain for a longer period, Reserve Bank Deputy Governor R Gandhi today said. UBS has revised downwards India's GDP growth projection for the current fiscal to 7.1 per cent, from 7.5 per cent earlier. Referring to the controversial computation of India's GDP, ArunJaitley, welcoming the 'debate', clarified the government has no role in the matter..
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Commodities and Derivatives Market:
The New York dollar was little change against the basket of currency on last Tuesday.
The Australian dollar was a biggest gainer after the country's central bank dropped a long used reference.
Global commodity prices have gained footing on the greenback recent losses.
The Aussie was up 1.6% at $0.7234 & recovering further from a six year trough of $0.7234 set last week.
China's currency devaluation may be bad news for FX industries.
International Finance/Global Economy:
Fed guidance splits markets over rate rise.
Fears grow over US stock market bubble.
Money-making scheme must be made of stronger stuff.
Stock sell-off reveals „major faultlines‟ in economy, BIS says
Shell CEO says BG deal risk is overstated.
Joe Biden: the Hamlet of the 2016 American election.
Multi-tasking: how to survive in the 21st century.
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Portfolio management and Investment:
Top portfolio products:PRoshare and cambria launch ETFs
A novel way to earn high yields in Real Estate.
Hedge Funds „Biggest losers in August: Emerging Markets, Activist Strategies.
Goldman: Recent volatility has done work of 3 fed hikes
S& P smacks down a big Argument For Active Management
REITs weaken slightly less than equities in august:NAREIT
Buffett: tump‟s tax ideas A-OK; Clinton‟s Economic views good, too
Gundlach channels „Rocky Horror‟:‟janet, Don‟t raise Rates.’
Indian Economy:
British firm await GST (goods & service tax) regime to scale up investment.
Rajasthan gets $500 million loans from ADB for urban services.
Rajkot Corporation seeks suggestions from citizens for 2nd phase of smart city mission.
MNC get notice to stump up taxes on salary of expats.
A SEZ developer seeks exemption from MAT.
Corporate tax exemption with sunset clauses may not be renewed.
67% of SME Have no digital access: Deloitte research.
Rising taxes spur illegal betting, leave turf clubs gasping for revenue. Doha bank ties up with Anil Ambani's Reliance group.
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Financial Wisdom Series
DhirajlalHirachandAmbani (28 December 1932 – 6 July 2002), better known as DhirubhaiAmbani, was an Indian business tycoon who founded Reliance Industries in Bombay with his cousin. He had been figured in the The Sunday Times top 50 businessmen in Asia. Ambani took Reliance Industries public in 1977 and by 2007, the combined fortune of the family was $60 billion, making the Ambanis the third richest family in the world. Ambani died on 6th July 2002 . He founded Reliance Industries in 1966, and as of 2012, the company has over 85,000 employees and provides almost 5% of theCentral Government's total tax revenue. As of 2012, Reliance Industries was listed among top Fortune 500 list of world's biggest companies by revenues. DhirubhaiAmbani returned from Yemen to India and started "Majin" in partnership with ChampaklalDamani, his second cousin, who lived with him in Aden, Yemen. Majin was to import polyester yarn and export spices to Yemen. The first office of the Reliance Commercial Corporation was set up at the Narsinatha Street in Masjid Bunder. It was a 350 sq ft (33 m2) room with a telephone, one table and three chairs. Initially, they had two assistants to help them with their business. During this period, Ambani and his family stayed in a two-bedroom apartment at the Jai Hind Estate in Bhuleshwar, Mumbai. In 1965, ChampaklalDamani and DhirubhaiAmbani ended their partnership and Ambani started on his own. It is believed that both had different temperaments and a different take on how to conduct business.[citation needed] While Damani was a cautious trader and did not believe in building yarn inventories, Ambani was a known risk-taker and believed in building inventories, anticipating a price rise to make lots of profit.
Well Said . . . . . Think big, think fast, think ahead. Ideas are no one’s monopoly” By
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