BONDS, CURRENCIES & COMMODITIES


The government has finalised arrangements with some 23 countries with whom Indian importers and exporters can trade in local currencies, thus eliminating dependence upon third party currency like the US dollar   What is this Currency Swap Arrangement (CSA)? This arrangement, between two...

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RBI launched inflation indexed bonds will be available till 31st December. The good news is that the rate will be linked to CPI instead of WPI - the less accurate gauge of inflation. The bad news is that early redemption, even after the lock-in period is over, will entail hefty penalty....

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Bonds are market-linked instruments. Making money from bonds involves some amount of market-timing Shriram City Union Finance (SCUF) has launched its issue of secured non-convertible debentures (NCDs). SCUF NCDs will have annual coupon rate of 11% for a period of 36 months, 11.25% for 48...

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Moneylife Digital Team 29 November 2013
RBI in consultation with Government of India, has decided to launch Inflation Indexed National Savings Securities-Cumulative (IINSS-C) for retail investors in the second half of December 2013 Inflation Indexed National Savings Securities-Cumulative (IINSS-C) securities  are being...

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Hudco and NTPC tax free bonds will be offered from 2nd and 3rd December respectively. Which one should you subscribe considering that Hudco rates are little higher and even crossing 9% barrier?   NTPC (formerly National Thermal Power Corporation), country's largest power producer and a...

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An export target of 3-4 million tonnes of sugar is projected this year in order to stabilise sugar prices in the domestic market. For this to happen, subsidy is urgent Moneylife recently covered the sugar industry, where it was pointed out that with the enormous and surplus stock of over...

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Nidhi Bothra 29 October 2013
MCA’s latest draft rules for public deposits, once enacted, will mean end of the bond markets in India, particularly for non-banking non-financial companies. Almost every possible reason and avenue for companies to issue bonds has been killed The regulatory framework for companies is...

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Most important point, in the whole onion episode, is the way every authority is overlooking hoarding and supply controls by wholesalers and middlemen to secure high prices The common man's luxury of onion consumption was covered in Moneylife issues recently. In spite of repeated...

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Moneylife Digital Team 23 October 2013
SEBI has mandated that NSDL and CDSL to jointly create and co-host centralised database for corporate bonds and debentures. It may be available as early as January 2014 and will be accessible to everyone without any fees. SEBI move aims to strengthen the debt market in the country The...

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NHPC and PFC tax-free bonds are offering identical returns. 8.92% tax-free returns from AAA-rated bonds for 20 years; it is a decent option for those in higher tax bracket. Should you go for NHPC, PFC or IIFCL bonds that are being offered or wait for future offers? After the recent...

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The latest trend in the world of business is to seriously consider and employ the use of currency swaps which would enable the participants to deal with their own currencies and eliminate the need to involve third currency like the US dollar Due to US sanctions and UN rulings, trade with...

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Too many committees and official statements, but little real action In all the 66 years after independence, whenever a scam was unearthed, government actions have followed a certain pattern. There is a prima facie investigation; the case is quickly handed over to the Central Bureau of...

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Moneylife Digital Team 30 September 2013
According to reports, besides NSEL offices, residences of Jignesh Shah, Joseph Massey are also being searched in connection with the payment crisis at the Spot Exchange The economic offences wing (EOW) of Mumbai police on Monday searched 184 places across 16 states, including residences...

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Indications are that the government may soon drop the kid gloves treatment to NSEL and its management and allow the CBI to take over. If that happens, most investors will not get anything back from their investment   Even as the government begins to distance itself from the woes of...

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Moneylife Digital Team 25 September 2013
The uncertainty on extent of Open Marker Operationss and RBI’s approach toward OMOs should keep supply prone zone of the yield curve (>5-year to 14-year bonds) under pressure,forecasts Nomura The bond market is still uncertain on the future of OMOs (bond buybacks - open market operations...

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Moneylife Digital Team 25 September 2013
The accounting watchdog has begun looking into the matter where auditors of Jighesh Shah-led Financial Technologies and NSEL have withdrawn their audit reports With Deloitte Haskins & Sells, the auditors of Financial Technologies (India) Ltd (FTIL), withdrawing their audit report, the...

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The market is still getting what is being supplied from presumably hoarded stocks of onions by wholesalers and the middlemen It is almost three months now. Onions, one of the most commonly used ingredient in the Indian cuisine, has remained out of reach for the aam aadmi.  Only the rich...

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Moneylife Digital Team 24 September 2013
Citing purported crisis at NSEL, the auditor of Jignesh Shah's Financial Technologies has withdrawn his audit report for FY13 ahead of the company's AGM tomorrow Jignesh Shah-led Financial Technologies (India) Ltd (FTIL) said its auditor has withdrawn the audit report on the company's...

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Moneylife Digital Team 20 September 2013
India can fund the current year’s CAD without substantially drawing upon the country’s forex reserves, said Dr Raghuram Rajan, governor, Reserve Bank of India in his press meet Dr Raghuram Rajan, governor, Reserve Bank of India declared that there was unwarranted panic in the rupee...

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Moneylife Digital Team 13 September 2013
Indian Bullion Markets Association-IBMA, indirectly owned by Financial Technologies, is the biggest member-creditor in the NSEL system. Who were IBMA’s clients? The biggest was Sahara Q Shop (19%) followed by a large number of commodity brokers like KR Choksey Commodity, Almondz Commodities...

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