Watch the interview of Dharmesh Bhatia Kotak Commodity Services with Shereen Bhan on CNBC-TV18, in which he shared his reading and outlook on commodity markets and specific commodities.
Watch the interview of Dharmesh Bhatia Kotak Commodity Services with Shereen Bhan on CNBC-TV18, in which he shared his reading and outlook on commodity markets and specific commodities.
Good trading session for the Nifty today, pulled back most of the losses that we saw on Friday's trading session and the Nifty was down 80 points odd in Friday's trading session while today in fact it pulled back close to around 57 points odd.
Importantly the global cues were supportive and the Nifty started off with a gain of around 50 points and we sustained those gains till the time we wound up.
Southwest Monsoon remained active over Kota as the city experienced good rainfall last week. For three consecutive days from the 6th of August, the city experienced 41 mm, 54 mm and 116 mm of rain. The city has received 255 mm of rain last week, which is more than the monthly average of 244 mm, for the month of August.
116 mm of rain, recorded on the 8th of August, was the second highest in the last 10 years. The highest 24 hours rainfall, in the last ten years, being 126.3 mm, recorded on 16th August 2004. However, the all-time high for Kota, in the month of August, has been 179.7 mm which was recorded on 31st August 1978.
According to the latest weather update by Skymet Meteorology Division in India, with just one-third of the month passing by, we can hope for good monsoon rains for the city subsequently.
In the month of July also, the city recorded 360.6 mm of rain, the third highest in the last 10 years and way above the monthly normal. The monthly normal is 279.8 mm. The highest rainfall was observed in 2004 with the count of 534.9 mm and the second highest being 419.1 mm, recorded in 2006. The all-time high, for the month of July, has been 462.2 mm, recorded in 1978.
Where the monsoon rains still remain deficit over many parts of the country, it has brought some respite in Kota, which generally observes only 11 rainy days in August every year. Located in eastern part of Rajasthan, it remains a low intensity pocket, although better than Western part of Rajasthan.
Kota observed only 8 mm of rain in June; against the normal of 75 mm. Rains picked up only after 11th July and have been pouring a great deal in August too.
picture courtesy- patrika.com
By: Skymetweather.com
Accusing him of "belittling" Parliament and "misinforming" people on the issue at a time when the House is in session, Congress members attacked Modi for "contradicting" his own Commerce Minister Nirmala Sitharaman on the matter.
Congress today created uproar in Rajya Sabha and targeted Prime Minister Narendra Modi over his remarks that the previous UPA government sacrificed the interests of the poor at WTO and demanded a clarification from him in the House along with a discussion.
Accusing him of "belittling" Parliament and "misinforming" people on the issue at a time when the House is in session, Congress members attacked Modi for "contradicting" his own Commerce Minister Nirmala Sitharaman on the matter.
The House saw two adjournments on the issue during Question Hour as Congress created uproar saying there were inconsistencies in government statements on WTO though Finance Minister Arun Jaitley asserted there was no contradiction.
Modi, while addressing the BJP National Council on Saturday, had accused UPA of sacrificing the interests of the poor at WTO by signing an Agreement and claimed that the new government had on the contrary stood firm on food security
issue at the recent Geneva round of talks.
Attacking Modi for his remarks, Congress member and former Commerce Minister Anand Sharma said, "We cannot allow a situation that Prime Minister of the country will try to belittle and misinform when the House is in session."
"The charge against us is made by none other than the Prime Minister of India. It has to be clarified because it misleads the country...It is the Prime Minister of India who has contradicted his own Minister. He should come to the House and explain," he said.
Digvijay Singh (Cong) joined him in questioning why the Prime Minister has contradicted his own Minister who claims there is no change in the government's stand at WTO.
"The Prime Minister has made disparaging remarks against the previous government," he said, adding that the Commerce Minister has stated that the Government has not deviated from the previous government's stand.
"He must explain. He is contradicting the Minister," he said, as the treasury benches reacted saying he cannot cast aspersions on the Prime Minister.
| All Figures are in USD Millions | ||||||||||||
| Position Date | MERCHANT | INTER BANK | ||||||||||
| FCY / INR | FCY / FCY | FCY / INR | FCY / FCY | |||||||||
| Spot | Forward | Forward Cancel | Spot | Forward | Forward Cancel | Spot | Swap | Forward | Spot | Swap | Forward | |
| Purchase | ||||||||||||
| 7/14/2014 | 2,215 | 890 | 346 | 565 | 185 | 173 | 6,891 | 7,355 | 418 | 2,069 | 1,153 | 27 |
| 7/15/2014 | 2,058 | 1,478 | 605 | 328 | 102 | 134 | 6,859 | 7,710 | 474 | 2,816 | 1,381 | 51 |
| 7/16/2014 | 2,239 | 1,223 | 480 | 408 | 108 | 118 | 6,308 | 7,556 | 709 | 2,424 | 1,304 | 19 |
| 7/17/2014 | 1,996 | 814 | 748 | 174 | 88 | 99 | 6,159 | 6,168 | 773 | 1,850 | 1,005 | 85 |
| 7/18/2014 | 2,316 | 1,462 | 583 | 301 | 125 | 159 | 7,423 | 6,178 | 900 | 2,484 | 1,386 | 122 |
| Sales | ||||||||||||
| 7/14/2014 | 2,679 | 722 | 683 | 566 | 187 | 180 | 7,131 | 7,671 | 389 | 2,047 | 1,161 | 25 |
| 7/15/2014 | 2,363 | 1,199 | 888 | 315 | 102 | 128 | 6,786 | 8,869 | 620 | 2,834 | 1,461 | 43 |
| 7/16/2014 | 2,506 | 1,706 | 1,219 | 403 | 98 | 118 | 6,396 | 8,092 | 496 | 2,378 | 1,360 | 18 |
| 7/17/2014 | 2,318 | 971 | 1,349 | 172 | 82 | 107 | 6,038 | 6,939 | 973 | 1,825 | 1,073 | 61 |
| 7/18/2014 | 2,847 | 2,505 | 1,335 | 298 | 124 | 157 | 7,394 | 6,711 | 644 | 2,488 | 1,425 | 137 |
| (Provisional Data) | ||||||||||||
Alpana Killawala
Principal Chief General Manager
Press Release : 2014-2015/306
In the first quarter, the airline has posted a net loss of Rs 217 crore- this is lower than the Rs 355 crore loss recorded a year ago.
Pilots at Jet Airways may have reportedly threatened to go on strike unless the airline clears salary arrears to the tune of Rs 100 crore by August 20. But the airline is not worried. It says it had created a provisioning for these arrears in March 2013 itself. But Jet is seeing some relief when it comes to profitability.
In the first quarter, the airline has posted a net loss of Rs 217 crore - this is lower than the Rs 355 crore loss recorded a year ago.
The company sees this as a sign that its 3-year turnaround strategy is bearing fruit and is targeting a net profit by 2017 on the back of a new 'single-brand strategy'.
Naresh goyal, chairman, jet airways said, "Today, at our board meeting we have received approval for our next critical step, to re-establish Jet Airways as a single master brand. This would mean harnessing our product proud heritage and original values in one consistent predictable and clearly recognized full service brand and also promise you Jet Airways used to be known as a Swiss clock operation, you cannot adjust your clock when you go. This will happen soon."
Jet Airways stock price
On August 11, 2014, Jet Airways closed at Rs 246.25, up Rs 1.90, or 0.78 percent. The 52-week high of the share was Rs 414.70 and the 52-week low was Rs 210.25.
The latest book value of the company is Rs -196.11 per share. At current value, the price-to-book value of the company was -1.26.
CNBC-TV18's Nigel D'Souza gets six things you need to know about IFB Industries .
RBI Governor Raghuram Rajan today said the financial inclusion drive, likely to be announced by Prime Minister Narendra Modi on August 15, will break the link between poor public services, patronage and corruption.
"It can break a link between poor public service, patronage, and corruption that is growing more worrisome," Rajan said, delivering 20th Lalit Doshi memorial lecture here.
The drive is likely to include identifying the poor, creation of unique biometric identifiers, opening bank accounts linked to these identifiers and eventually transferring government subsidies to these accounts.
"When fully rolled out, I believe it will give the poor the choice and respect as well as the services they had to beg for in the past," Rajan said, adding that financial inclusion will be an important part of government's and Reserve Bank's plans for the coming years.
Rajan laid extra stress on the cash benefit transfers, saying "money liberates and empowers".
He also said profitability for banks is very crucial for the success of the scheme, and mentioned ideas like government paying the bank commission for transfers.
To prevent the hazard of people squandering the money on alcohol, etc, Rajan said the money could be transferred to the women of the family, who are generally better spenders.
Other aspects such as linking the transfers to conditions like children attending the school regularly too can be looked at, he said.
Acknowledging that a corrupt monitor will vitiate the entire effort, Rajan advocated that we should still go ahead with the efforts and look for automation on monitoring wherever possible.
Coming out against the hazard of transfers making one addictive, Rajan stressed the need to use cash transfers as a tool to build capabilities in education and health-care, rather than using the resources only for inessential consumption.
Still, if data on misspending emerges, we can look at alternatives such as giving some of the benefit in the form of electronic coupons which can be used by specified individual for a narrow purpose like food, education or health-care, Rajan said.
In the financial inclusion drive, RBI will play the role of enabler and undertake efforts like "to nudge" banks to offer all the basic products to address financial needs.
Rajan also said the central bank is looking at re-examining KYC norms, to simplify them. He also stated that RBI's efforts to open the payment banks and small local banks are directed at deepening the financial inclusion itself.
He said inclusion of new and inexperienced bank account holders will require protection, and hence RBI is beefing up 'consumer protection code' which will emphasise the need for simple and easy to understand banking products.
"We are strengthening the customer grievance redressal mechanism, while looking to expand supervision, market intelligence, and coordination with law and order to reduce the proliferation of fly-by-night operators," he said.
Additionally, RBI is also working with the government to expand the financial literacy, he said.
These arrests take the count of arrests to a total of 10 out of 24 borrowers.
The Economic Offences Wing of the Mumbai Police has arrested seven borrowers as the NSEL probe gathers pace. Together, these seven borrowers owe more than Rs 1,000 crore.
Officials have been called in from all over the country for regular questioning by the EOW and after a few hours of questioning these seven people have been detained primarily because they felt that custodian interrogation was necessary to obtain more information. There's also the suspicion that the money that had been given to the borrowers by the exchange had been illegally routed to real estate projects.
These arrests take the count of arrests to a total of 10 out of 24 borrowers.
When questioned about the brokers that have been accused and alleged by most of the investors and NSEL themselves, Rajvardhan, the EOW officer simply asked not be be questioned about the brokers for the next one month. So, we might see a little slowdown in the arrests coming up.
Friday: 10.30 pm, Saturday: 11.30 am
Sunday: 9:30am & 11.00pm
Published on Mon, Aug 11,2014 | 21:23, Updated at Mon, Aug 11 at 21:31Source : CNBC-TV18 | Watch Video :
The new company law was meant to provide India a modern bankruptcy regime, in which sick companies are given some tender loving care for revival and terminally ill companies are allowed to die or wind up in the most efficient manner possible. Does the Companies Act, 2013 – in its provisions for revival and rehabilitation of sick companies and winding up - fulfil these needs? Watch a discussion with Alok Dhir, Fereshte Sethna & MR Umarji on Companies, Act!
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