BONDS, CURRENCIES & COMMODITIES


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watchdog has begun looking into the matter where auditors of Jighesh Shah-led Financial Technologies and NSEL have withdrawn their audit reports With Deloitte Haskins & Sells, the auditors of Financial Technologies (India) Ltd (FTIL), withdrawing their audit report, the...

Read More



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...

Read More



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Citing purported crisis at NSEL, the auditor of Jignesh Shah's Financial Technologies has withdrawn his audit report for FY13 ahead of the company's AGM tomorrow Jignesh Shah-led Financial Technologies (India) Ltd (FTIL) said its auditor has withdrawn the audit report on the company's...

Read More



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...

Read More



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...

Read More



There appears to be no other suitable alternative but accept or introduce a dual exchange rate to be kept operational for a year at least In the last six months, the rupee has lost 13.83% of its value and after touching a low of Rs68.85 against the US dollar, is slowly recovering. Its...

Read More



Dilnavaz Variava 12 September 2013
The hype for promoting GM is that it increases food security. India produced bumper stocks of food grains, all without GM, yet 200 million people are hungry. GM will not address the issues of poverty, poor storage and corruption, which deprive the poor of food. This is the second part of a...

Read More



Favourable monsoons have brightened the possibility of foodgrain export in order to reduce the current account deficit- CAD for India. While prices fluctuate in the international market, export we must Although some parts of the country did not get adequate rainfall, India experienced a...

Read More



Moneylife Digital Team 11 September 2013
SEBI renews MCX-SX recognition but directs the bourse and its Clearing Corporation to strengthen governance structure in a manner that Jignesh Shah’s team virtually loses management control or core decision-making powers to a team of directors    In a late night development, the...

Read More



Dilnavaz Variava 11 September 2013
There are inherent risks and dangers if India were to adopt genetically modified crops. Here is an expose about several myths surrounding GM crops. This is the first part of a three-part series There has been a great deal of publicity of late, particularly by the Agriculture Minister,...

Read More



The managing director went on record to say that NSEL has sufficient stocks in warehouses to cover the entire open exposure and in the event of any default, stocks will be sold to fulfill payment obligations. The hollowness of this claim is an open secret now.   “The Company’s...

Read More



Moneylife Digital Team 10 September 2013
Traders are facing destruction of black pepper or kalimirchi stock, worth about Rs300 crore traded on NCDEX that was found to contain carcinogenic mineral oils   Pepper traders have welcomed commodity market regulator Forward Markets Commission (FMC)'s decision instructing...

Read More



Tax-free bonds are back with better opportunities than were offered earlier this year. In December 2012, there was expectation of interest rates heading south. They did, for some time, but suddenly, with the rupee plunging, interest rates are now heading north. As a result, bond prices...

Read More



Moneylife Digital Team 05 September 2013
NSEL said it is in the process of providing an exit window for investor to liquidate the e-series units and realise cash payments Crisis-ridden National Spot Exchange Ltd (NSEL) on Thursday said that its stock positions of gold, silver and platinum, for e-series contracts tallies with...

Read More



Customers of some of the biggest names in the Indian broking fraternity who aggressively sold NSEL’s borrowing-lending racket are staring at large outstanding in NSEL. Clients of Anand Rathi Commodities stand exposed to over Rs600 crores while those of Indian Infoline stand to lose over Rs300...

Read More



Moneylife Digital Team 04 September 2013
It now appears that the former CMD of SIDBI was appointed as additional director on FT board on 22nd August but on 27th August he submitted his resignation without any explanation for this sudden exit! Jignesh Shah-led Financial Technologies (India) Ltd (FT) appointed N Balasubramanian...

Read More



Indian Bullion Markets Association was one the biggest borrowers from the borrowing/lending racket of National Spot Exchange Ltd, amounting to Rs1,159 crores. With a name like that, was this group of company of Financial Technologies, the promoter of NSEL, masquerading as a trade body,...

Read More



The Financial Technologies group has always managed to get generic words as company names, with Registrars violating their own guidelines. Use of words like ‘National’ for National Spot Exchange are illegal too The National Spot Exchange Limited (NSEL) scam is unusual in many ways....

Read More



Moneylife Digital Team 02 September 2013
Financial Technolgies' notice for AGM does not even mention NSEL. Meanwhile, Ravi K Sheth, a longtime director and confidant of Jignesh Shah, has decided not to seek re-appointment Financial Technologies (India) Ltd (FT), the promoter of scam-ridden National Spot Exchange Ltd (NSEL) does...

Read More



Moneylife Digital Team 02 September 2013
With the worsening current account and fiscal deficits and rushed policy-making, Nomura feels that Indian economy will have a tough time bouncing back, with balance of payments issues to be the cornerstone of her recovery In a Special Report, Nomura Singapore is bearish on the Indian...

Read More

Free Helpline
Legal Credit
Feedback