thinks naraynan do

Conversation with Naraynan Sethurao

noreply@blogger.com (naraynans16) — Sat, 21 Jan 2012 07:43:00 PST

http://economictimes.indiatimes.com/news/nri/nri-investments/savvy-nris-lap-up-india-incs-dollar-bonds-from-exiting-fiis/articleshow/11503052.cms

naraynan sethurao wants to chat

noreply@blogger.com (naraynans16) — Sat, 21 Jan 2012 05:37:00 PST

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The Money Bees - Money Matters: Top 5 Tips to Build Wealth and Success

noreply@blogger.com (naraynans16) — Wed, 13 Oct 2010 07:44:00 PDT

The Money Bees - Money Matters: Top 5 Tips to Build Wealth and Success: "Yahoo recently shared the top five tips to build wealth and success from the lives of several wealthy individuals (such as Warren Buffett). ..."

World Water Day

noreply@blogger.com (naraynans16) — Mon, 22 Mar 2010 05:15:00 PDT

Every Drop Counts.....

United Nations celebrates March 22nd every year as the World Water Day with renewed emphasis on curbing unrestrained groundwater exploitation and make water conservation an issue of every nations' priority.

UN-Water is dedicating World Water Day 2010 to the theme of water quality, reflecting its importance alongside quantity of the resource in water management as we are living in an environmentally unsustainable world and it would have serious repercussions in the near future on the existence of our planet.

For other activities of the UN under water world day programme, please link with:

http://www.worldwaterday2010.info

FOOD FOR THOUGHT(health)

noreply@blogger.com (naraynans16) — Tue, 16 Mar 2010 20:50:00 PDT

Benefits of Papaya

Papaya fruit has several beneficial antioxidants,fibres and digestive enzymes and available for consumption through out the year and a poorman's fruit also.

It prevents Constipation,relieves infections of colon and can break down mucus. It also helps in healing burns and reducing inflammation.Since papyas are rich in fibre they are known to lower high colestrol levels.Folic Acid found in papayas converts a substance called Homocysteine into benign amino acids, which otherwise can damage blood vessel walls which can cause a stroke or even a heart attack.

Papayas also help preventing diabetic heart desease.It is rich in three essential antioxidants like vitamins C,E and A, these nutrients prevent the oxidation of cholestrol.

The fibre found in papaya binds cancer-causing toxins in the colon and keeps the toxins from the healthy colon cells.

Here is how you can include papaya in your diet - a glass of papaya juice or a few pieces of papaya in a fruitsalad is a great way to start your day.

Source:Chennai Times

Pink Sleep by CEOs

noreply@blogger.com (naraynans16) — Tue, 26 Jan 2010 08:04:00 PST

Repo Rates & Reverse Repo Rates

noreply@blogger.com (naraynans16) — Mon, 25 Jan 2010 22:07:00 PST

In a situation like what we face in the Indian economy Today, with Food Inflation at its all time peak, RBI is toying with the idea of containing physical money supply from the system.

One of the Tools which RBI uses is the Repo and the Reverse repo Rates manipulation and it operates this way:

Repo is a facility extended by RBI to the Banks to borrow short term against its gilt securities. Any increase in the Repo rates dampens the enthusiasm of Banks to borrow against such securities and any decrease in it influences Banks to borrow.

Repo rates are characterised by sale followed by purchase of securities. When securities are sold to RBI, more money is released and the opposite effect takes place when Reverse Repo rates are applied by RBI when it sells its securities to Banks and follows it up with purchase on maturity.

Repo and Reverse Repo thus help the RBI control money supply.If it wants to squeeze it, RBI will increase both the repo and the reverse repo rates, and does the opposite if it wants to increase the money supply in the economy.

Green Money Transfer - Through Mobile Phones

noreply@blogger.com (naraynans16) — Sun, 08 Nov 2009 18:26:00 PST

Now, Funds Transfers between Two Individuals for settlement of financial transaction is made possible through the Mobile Cell Phones outside of Banks' Network of Branches.

This facility is a Boon to Rural India's vast population who are dependent on Banks' Branch network available in the vicinity of the villages to carry out such cash transactions.

Corporation Bank and Tata Indicom have tied up for such cash transactions to be put through these Mobile Cellphones to cater to the needs of rural India.

Reserve Bank of India has permitted Banks to operate these Money Transfers through Mobile Phones with a Limit of Rs.5000/- per transaction to start with. For further details on the operative part of the scheme can be accessed from these Links:

http://prashantnepayments.blogspot.com/2009/11/product-launch-corporation-bank-green.html

http://www.paymate.co.in/green/

http://www.tata.com/article.aspx?artid=48AbTWkt4WI=

Bharti/MTN transaction, and India's problem of capital controls

noreply@blogger.com (naraynans16) — Sun, 04 Oct 2009 18:35:00 PDT

Bharati / MTN deal of $23 billion fell through on the question of Dual currency Listings and Capital Account Convertibility issues which the Government of India could not possibly decide on in a hurry. But this important capital control issue needs to be addressed by the Government sooner than later in view of the FDI inflows into Indian capital markets and also India being one of the leaders of emerging markets which has fairly withered the recessionary storm than the developed economies of the world. Here is a link from Dr.Ajay Shah's blog on this issue.

Ajay Shah's blog: Bharti/MTN transaction, and India's problem of capital controls

Leadership - That Mysterious Talents

noreply@blogger.com (naraynans16) — Thu, 10 Sep 2009 05:37:00 PDT

The India Leadership Network is one of the very few knowledge based social network group wherein I find really thought provoking experts write on the blogsite. This particular presentation on Leadership -That Mysterious Talents - is inspiring and lucid to the readers to understand the concepts. Here is the link for the readers. Copy and paste

http://www.youtube.com/watch?v=UDp87fxfXoM&feature=player_embedded

BC Model for Financial Inclusion

noreply@blogger.com (naraynans16) — Wed, 19 Aug 2009 23:04:00 PDT

Reserve Bank of India Working Group has recommended the following new entities for appointment of Business Correspondents (BCs) for banks in rural and semi-urban areas;suggests New Entities for BC- RBI Working Paper.

RBI press release dated 19th Aug 2009 states that business correspondence model is vital for financial inclusion and suggests new entities for BCs.The RBIlink is appended:

http://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/IEPR278RWGBC.pdf

Cash Withdrawals @ Point Of Sale

noreply@blogger.com (naraynans16) — Sun, 16 Aug 2009 21:40:00 PDT

The Reserve Bank Of India under the Payments & Settlements System Act,2007 has circulated among all system providers/scheduled commercial banks to permit cash withdrawals through Debit Cards at POS terminals at different Merchant Establishments alongside the existing ATM centres as the transactions at POS/member Establishments are steadily increasing in the country.

The Bank Boards have to place these proposals to give effect to this guidelines from RBI and the limit upto which cash can be withdrawn is presently fixed at Rs.1000.00. The relevant circular of RBI dt 22nd July 2009 is apended.

RBI/2009-10/105

DPSS.CO.PD.No. 147/02.14.003/ 2009-10

22nd July 2009

All System Providers (VISA / MasterCard / American Express),

All Scheduled Commercial banks

Dear Sir,

Cash Withdrawal at Point-of-Sale (POS)

Presently cash withdrawal facility using plastic cards is available only at Automatic Teller Machines (ATMs). As on May 31, 2009, number of ATMs and POS terminals in the country stood at 44,857 and 4,70,237 respectively. The use of debit cards at Point-of-Sale (POS) terminals at different merchant establishments has been steadily increasing. As a further step towards enhancing the customer convenience in using the plastic money, it has been decided to permit cash withdrawals at POS terminals. To start with, this facility will be available for all debit cards issued in India, upto Rs.1000/- per day.

2. The conditions subject to which this facility is being extended is given in the annex(given above)

3. Banks may obtain the approval of their Board of Directors for offering this facility. The note put up to the Board should incorporate the product profile, risk perceived by the bank and the risk mitigation measures.

4. This circular is being issued in exercise of the powers conferred on the Reserve Bank under Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007).

Yours faithfully

(G.Padmanabhan)

Chief General Manager

Tackling the menace of Fake Notes

noreply@blogger.com (naraynans16) — Wed, 12 Aug 2009 20:31:00 PDT

As we hear from the media the MENACE OF FAKE NOTES being circulated alongside the real currency notes,RBI has released the final report of High Level RBI Group suggested steps to check the menace of Fake Notes on 12th August 2009.The copy of the press note can be accessed at this link:

http://rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=21174

RBI has initiated several steps to curb this menace - the latest being the promotion of use of Cards and Electronic means of payment and installation of Note Detectors at places where large volume of cash transactions are conducted.

Further, RBI may disincentivise the use of Cash as it has to be recognised that processing of cash involves Cost that has to be recovered. the complete report can be accessed at this link:

http://rbi.org.in/scripts/PublicationReportDetails.aspx?UrlPage=&ID=554

swineflu - 10 steps to prevention

noreply@blogger.com (naraynans16) — Wed, 12 Aug 2009 08:46:00 PDT

1.Use a face mask wherever you go out.

2.Use a lot of alcohol sanitizers/dettol.

3.Have boiled water.

4.Wash your hands many times.

5.Avoid eating outside food.

6.Have a lot of lime/Vit-C.

7.Keep your body warm.

8.Avoid public urinals.

9.No Alcohol.

10.Last, get sufficient sleep.

It is important that all of us spread this message to whom we feel vulnerable to such Risks.

the health benefits of almonds

noreply@blogger.com (naraynans16) — Mon, 03 Aug 2009 06:38:00 PDT

Health benefits of Almonds are widely written in medical/health journals and it especially good for elderly, pregnant women and children as it provides vital nutrients for the body. Here is a weblink which covers all the details.

the health benefits of almonds

new security for credit card payments

noreply@blogger.com (naraynans16) — Sat, 01 Aug 2009 19:25:00 PDT

VERIFIED BY VISA MASTER SECURE CODE NEW SECURITY FOR CREDIT CARD PAYMENTS

To make online shopping safer, the RBI has made it mandatory, from 1st August onwards, for all online transactions to have an extra level of authentication. The ‘extra’ level, is a password that you will have to enter after entering your credit/debit card details while making online payments. You will require this ‘extra password’ for transacting on any website in India, including Rediff. This new technology is called VBV – Verified by Visa or MSC – MasterCard SecureCode.
Please visit your Credit/Debit Card issuing bank’s website to get verified by Visa / Master Card secure code. Click to select your bank and register now:
•HDFC Bank •ICICI Bank •Citibank •HSBC Bank •Standard Chartered
•State Bank of India •Axis Bank •ABN Amro •Deutsche Bank •Karur Vysya Bank

Date: Feb 18, 2009
Credit/Debit Card transactions-Security Issues and Risk mitigation measures

RBI/2008-2009/387

RBI / DPSS No. 1501 / 02.14.003 / 2008-2009February 18, 2009

The Chairman and Managing Director / Chief Executive Officers
All Scheduled Commercial Banks including RRBs /
Urban Co-operative Banks / State Co-operative Banks /.
District Central Co-operative Banks

Madam / Dear Sir

Credit/Debit Card transactions-
Security Issues and Risk mitigation measures

The use of Credit/Debit Cards has been increasing in the country. We have been reviewing various options to enhance the security of online card transactions. After extensive consultations with banks/card companies, it has been decided as under:

2. It would be mandatory to put in place with effect from August 01, 2009:

i) A system of providing for additional authentication/validation based on information not visible on the cards for all on-line card not present transactions except IVR transactions (for which separate instructions will follow).

ii) A system of "Online Alerts" to the cardholder for all 'card not present' transactions of the value of Rs. 5,000/ and above.

3. Banks are advised to strictly adhere to the instructions and time discipline indicated in this circular. Non-adherence to the directives shall attract penalties prescribed under the Payment and Settlement Systems Act 2007 (Act 51 of 2007).

4. This directive is issued under section 18 of Payment and Settlement Systems Act 2007, (Act 51 of 2007).

5. Please acknowledge receipt.

Yours faithfully

(G. Padmanabhan)
Chief General Manager

IRDA regulates ulip products of insurance

noreply@blogger.com (naraynans16) — Sat, 25 Jul 2009 16:43:00 PDT

IRDA, the regulator for insurance business in India, has come out with a notification that w.e.f.1st October 2009, the difference between the ‘gross yield’ and ‘net yield’ of ULIPs shouldn’t exceed 3% for policies of less than 10 years and 2.25% for longerterm policies. Gross yield is the fund’s returns on investment and net yield is what it gives to the policyholder. Of these, fund management charges are capped at 1.5% for the shorter-term policies and 1.25% for longer-term ones.

This directive of IRDA will have far reaching impact on the insurance advisors who earn around 12% out of the present charges deducted on the first year premiums of new insurance business procured.

Still, there is no claritiy on other charges like allocation charges, administrative charges which are periodically debited to the account of the policy holders.

We may have to wait and watch this recent directive of IRDA how things will fan out for the policy holders, intermediaries and the insurance companies.

variable load structure

noreply@blogger.com (naraynans16) — Sun, 28 Jun 2009 07:47:00 PDT

As per recent SEBI ORDER, the financial regulator for Mutual Funds industry, the retail investors are freed from the ENTRY LOAD of 2.25 % on all the mutual fund investments hitherto charged to pay commission/trail fees to the certified independent financial advisors(IFAs), registered under AMFI certified programme and has introduced the variable load structure wherein, the Fund Houses will be able to invest the entire amount without deducting entry load of 2.25% on the amount so invested by the investors, thus leaving the intermediaries to fend for themselves on the question of services charges/commission collectable from the investors.

This will be a great relief to the investors who were routing their investments through the intermediaries all these years and paying 2.25% as upfront entry level charges each time they made investments.

The relief to investors ends here...but the greater problem of choosing the right fund/scheme from various fund houses starts NOW...for the ill-informed, who form the majority of retail investors in India...

It is to be fully conceeded that a big chunk of IFAs who used to mis-sell the products by using the switch/redemption processes available under the scheme to investors, to frequently churn the portfolios/schemes -without providing a comprehensive plan of action to the retail investors to stay invested in a fund/scheme for a reasonably long time - thus maximising their upfront commission income.

The new scenario thus provides FINANCIAL PLANNERS and Qualified Independent Advisors an opportunity to retain customers and build better business volumes from the serious and well informed investors who do not mind PAYING for the SERVICES to a good financial advisor with expertise and knowledge a reasonable fee/charges as agreed upon between them and who offers better after- sale services like reviewing the portfolios periodically, updates on market movements and such other small services which a retail investor requires from the intermediaries/advisors regularly.

Though a large number of intermediaries will be loosing their jobs in the short run, the new regulation creates a right environment for both the investors and the intermediaries to upgrade their skill,expertise and awareness on the mutual fund investments and take the industry to a new high in the comming years.

As it has been said by the Investment Guru Warren Buffet ..."Price is what you Pay and Value is what you Get"

High Value Cheques in Clearing

noreply@blogger.com (naraynans16) — Thu, 30 Apr 2009 16:13:00 PDT

The RBI's chennai clearing house has written to their Head Office,Mumbai seeking approval to ENHANCE the minimum threshold limit of rupees one lakh to rupees ten lakhs under RTGS for High Value cheques presentation with effect from 1st May 2009 and the same is APPROVED.

This will further take the Banks away from the physical cheques handling and SHIFT the customers to make use of the NEFT /EFT machanism under the commuterised environment.

RBI Mumbai has notified through their Press Release dated 29th April 2009.

No - Choice option in EVM

noreply@blogger.com (naraynans16) — Mon, 27 Apr 2009 04:38:00 PDT

The Election Commission has written to the Centre on the issue of inclusion of an option in the electronic voting mechine(EVM) for voters to register their REJECTION of candidates if they feel that NONE of them is FIT ENOUGH to become their representative, in deference to the wishes of the silent majoriy of voters and ALSO to implement the provisions of Section 49(o) of the Representation of People Act as amended in 1969. This provision under the act is AWAITING the Centre's approval.

The Truth about 49(o)

If an electorate, after his electoral roll number has been duly entered in the register of voters in Form-17A and has put his signature or thumb impression thereon as required under sub-rule (1) of rule 49L, decided not to record his vote, a remark to this effect shall be made against the said entry in Form 17A by the presiding officer and the signature or thumb impression of the electorate shall be obtained against such remark.

This Infers that in no case will there be a re polling in the said constituency, however the negative/neutral vote is registered and counted so as to cross check on the total number of votes polled.

An error has crept into in our earlier reporting under the head "Valuable Vote" that repolling will be ordered and fresh candidates should file nominations. This major error is regretted.

Interest Payment on Savings Bank Accounts

noreply@blogger.com (naraynans16) — Sat, 25 Apr 2009 07:12:00 PDT

Reserve Bank of India by their Notification dated 24th April 2009, has instructed all the Banks to start payment of interest on Savings Bank Accounts on domestic resident accounts and on NRO/NRE Rupee Acccounts on a DAILY Product Basis with effect from 1st April 2010.

Though Indian Banks Association was reluctant to comply with this suggestion earlier, Reserve Bank of India has thought it fit to implement this change in procedure as it feels now that computerisation of Bank Branches will be able to handle this effectively.

100 days agenda by PM & PM in Waiting

noreply@blogger.com (naraynans16) — Sat, 25 Apr 2009 06:25:00 PDT

The PM and the PM in waiting are now competing on who, if given a chance to lead this nation, can perform better and get results within 100 days of office on the following:

1) Turn the economy around with a 100-day action plan to revive the economy by adding greater vigor to the stimulus packages and tackling job losses.

2) Revive the confidence in the economy and take it to the stage where 9% to 10% growth is possible.

3) Bring back black money stashed away in tax havens abroad.

4) Job Losses in the economy will be dealt with by an integrated action plan.

But , it is increasing getting clearer by the day, that both indulge in spiking and leaving punches on one another as though they are in the RING and the poor REFEREE, the electorate is helplessly watching the ethics and rules of the game being thrown to winds.

Though both of them talk ill of each other at the slightest provocation, still they are shying away from direct debate on the issues that concern this nation.

The PM has conceeded that there is a linkage between terrorists outside and within the country and this needs to be tackled urgently by modernising the security and intelligence mechanism if voted back to power.But PM in waiting wants tougher laws to handle terrorism and internal security threats and blames the PM for lack of political will and toughness.

The PM in waiting is harping on the PM not doing enough @ G-20 meet to take a forceful stand on bringing back unaccounted money into India when major countries like US,UK,France and Germany wanted to put pressure on UBS swiss bank to pass on the data base of account holders who are holding secret accounts with them. However, the PM has to do lot of explaining to the nation why it didnot persue the matter when Germany was willing to part with the names of Indians which came into their hands when they sought information from Swiss Bank.

The breifings and press confrences were conducted by both the contenders for leading the nation seperately in the TV and we the electrate feel that they could have had TV DEBATE on one on one basis and conducted themselves decent and helped India becoming a MATURE and ROBURST democracy in the eyes of the whole world at a time when there are disturbing trends obtaining in our neighbourhood.

New Coins Of Rs.10/- with Theme - Unity In Diversity

noreply@blogger.com (naraynans16) — Fri, 24 Apr 2009 04:13:00 PDT

The Reserve Bank of India will shortly put into circulation new coins of Rs.10/- issued by Government of India with the theme "Unity in Diversity ".
The new Rs.10/- Coin is legal tender as provided in the Indian Coinage Act, 1906.

valuable vote

noreply@blogger.com (naraynans16) — Wed, 22 Apr 2009 11:24:00 PDT

Do you know your VOTE value?

Are you aware of Section 49(o) of the Peoples' Representation Act under the Constitution of INDIA?

This section is the real weapon in the hands of every INDIAN citizen, if he wishes to express his choice of NOT voting any of the contestents in a Polling Booth, if he thinks that the contestants are NOT competant.

This right is available to every electorate under our constitution, as per the amended 1969 Act, under section49(o), that a person can go to the polling booth, confirm his identity, get his fingerprint marked and convey to the presiding Election Officer that he doesn’t want to VOTE anyone in the voting screen!

YES such a feature is available, but obviously these provisions have never been disclosed to the electrate.

A) Under section 49(o) if the electorate deciding not to vote, can have his electrol roll number duly entered in the register of voters in Form-17A and have his signature or thumb impression put thereon as required under sud-rule (1) of rule 49L, in the event of deciding not to VOTE, a remark to this effect shall be made against the said entry in Form 17A by the presiding officer and the signature or thumb impression of the electorate shall be obtained against such remark.

B) Why should you go to the polling booth and say " I VOTE NONE?” In a given constituency if a candidate wins, say by 123 VOTES and that particular constituency has received Negative votes under section 49(o) which are more than 123, then that polling will be cancelled and re-poll has to be ordered.Not only that - but also that the candidature of the previous contestants will be removed and they cannot contest the re-polling once again, since electorate had already expressed their decision on them.

C) This would instill fear in the minds of the political parties and they would look for genuine candidates for their parties for the election. This would bring the necessary changes in our political system. Further, if this section 49(o) is made public and gets Media Coverage, this will act as a deterant to all political parties from wrong choice of candidates.

D) Thus, expressing your desire not to vote for anybody, is even more powerful than VOTING… So don’t miss your chance!

Courtesy:

Ghansham Ojha,

F&P IYSO Team INDIA,

RBI's Annual Policy for 2009-10

noreply@blogger.com (naraynans16) — Tue, 21 Apr 2009 12:17:00 PDT

RBI Annual Policy Statement for the Year 2009-10

Highlights

GDP growth for 2008-09 is projected to be in the range of 6.5 to 6.7 per cent

Repo rate under the Liquidity Adjustment Facility (LAF) reduced by 25 basis points from 5.0 per cent to 4.75 per cent with immediate effect.

Reverse repo rate under the LAF reduced by 25 basis points from 3.5 per cent to 3.25 per cent with immediate effect.

The Bank Rate has been retained unchanged at 6.0 per cent.

The cash reserve ratio (CRR) of scheduled banks has been retained unchanged at 5.0 per cent of net demand and time liabilities (NDTL).

Special Term Repo Facility: Extension

The Reserve Bank introduced a special 14-day term repo facility for banks in September 2008 through relaxation in the maintenance of SLR to enable them to meet the liquidity requirements of mutual funds (MFs), non-banking financial companies (NBFCs) and housing finance companies (HFCs).

It has been proposed:

To extend the time for availability of this special term repo facility to banks up to March 31, 2010, and to conduct these 14-day term repo auctions on a weekly basis.

Other Observations

Special Refinance Facility Extension - Special refinance facility was introduced to provide funding to scheduled commercial banks (excluding regional rural banks) up to 1.0 per cent of their net demand and time liabilities (NDTL) as on October 24, 2008 at the repo rate. It is proposed to extend this special refinance facility up to March 31, 2010.

Monetary Projection - Money supply (M3) growth for 2009-10 is placed at 17.0 per cent. Consistent with this, aggregate deposits of scheduled commercial banks are projected to grow by 18.0 per cent. As always, these numbers are provided asindicative projections and not as targets

Inflation Projection - The WPI inflation is expected to be in the negative territory in the early part of 2009-10. Keeping in view the global trend in commodity prices and domestic demand-supply balance, WPI inflation is projected at around 4.0 per cent by end-March 2010.

Policy Stance

According to RBI, on the basis of the above overall assessment, the stance of monetary policy in 2009-10 will broadly be as follows:

Ensure a policy regime that will enable credit expansion at viable rates while preserving credit quality so as to support the return of the economy to a high growth path.

Continuously monitor the global and domestic conditions and respond swiftly and effectively through policy adjustments as warranted so as to minimise the impact of adverse developments and reinforce the impact of positive developments.

Maintain a monetary and interest rate regime supportive of price stability and financial stability taking into account the emerging lessons of the global financial crisis.

Source: RBI press release