BONDS, CURRENCIES & COMMODITIES


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...

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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...

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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...

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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...

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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,...

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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....

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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...

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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...

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The NSEL scam only happens to be the biggest of the multiple scams that have hit the commodities markets, thanks to poor regulation Prime minister, Manmohan Singh, likes to blame all the lapses of his government on ‘coalition dharma’. Well, in addition to the long list of scams and...

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Moneylife Digital Team 28 August 2013
While regulators, investigation agencies are apparently working hard at tracking Rs5,600 crore that seems to have vanished from NSEL without a trace, the 'investors' who are fighting for their funds held a unique protest outside the exchange plaza -- almost every one of these protestors are...

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Moneylife Digital Team 28 August 2013
At least eight foreign currencies, including Isle of Man pound, Gibraltar pound and Jersey pound currently trade over the 100 mark against the Indian currency. While euro and Jordanian dinar are in 90s, there are about 50 foreign currencies trading at over 50 level against the rupee Even...

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While the rupee is touching new bottoms every day against the US dollar, the number of fake currency notes in India is increasing. Even the Security Press is printing blank notes. Can the new governor of RBI look at polymer currency notes? Dr Raghuram G Rajan, Officer on Special Duty...

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Moneylife Digital Team 27 August 2013
In the Harshad Mehta scam bankers were issuing fake bankers receipts or BRs, representing government securities. But while BRs were accepted on the basis of trust, NSEL created the illusion of a 'trade guarantee fund' which has mysteriously vanished History never repeats itself, but it...

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Moneylife Digital Team 26 August 2013
NSEL said these five defaulting members did not have adequate commodities in the warehouses, which is against the mechanism specified in the Exchange circulars National Spot Exchange Ltd (NSEL) said it has filed complaint against five of its defaulting members before the investigation...

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Moneylife Digital Team 26 August 2013
National Bulk Handling Corp said its exposure in NSEL is less than 3% of its total warehousing stock National Bulk Handling Corp Ltd (NBHC) on Monday said that the company and National Spot Exchange Ltd (NSEL) are totally different entities and it does not handle NSEL warehouses except...

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The Indian government may consider setting up National Savings and Investments Authority -NS&I like the UK to issue premium bonds and also use lottery system to generate more revenues for the exchequer Both finance minister P Chidambaram and Reserve Bank of India (RBI) governor D...

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Moneylife Digital Team 26 August 2013
Guru has alleged that few 'bad people' have entered the Exchange and they should be punished Shankarlal Guru, has stepped down as non-executive chairman of National Spot Exchange (NSEL), saying that some 'bad people' have entered the crisis-ridden Exchange and were responsible for its...

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In case of oil and gas, it is neither possible nor desirable to completely stop imports as we have long term supply agreements on hand.  But, what can be done that needs to be put into immediate effect? Some measures that the government can take. According to various financial experts,...

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Moneylife Digital Team 21 August 2013
The British pound has become the first major foreign currency to cost more than 100 rupees apiece The Indian rupee closed Wednesday at 64.02 against the US dollar, while breaching the 101 lever against the British pound as foreign investors continued to unwind their investments from the...

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Moneylife Digital Team 16 August 2013
As the US Treasury yields soared to their highest in two years yesterday, foreign investors sold off bond and equity, pushing rupee to an all-time low of Rs62/$  The Sensex today fell by a huge 769 points, a selloff that has no apparent reason except that the rupee weakened a bit...

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