Hat Tip: Evan Kirstel
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How to make your family rich
Hat Tip: Evan Kirstel
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It’s not complicated
Work hard.
Don’t spend too much.
Save the difference.
Invest.
Low costs.
Long term.Really isn’t more complicated than that.
— The Motley Fool (@themotleyfool) January 24, 2016
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HDFC Bank has no love for India
HDFC Bank “has got no love and respect for India” as it put the country’s reputation at stake by not activating a debit card of a couple “trapped in a foreign country”, the apex consumer court has said.
The National Consumer Disputes Redressal Commission (NCDRC) made the observations while asking the bank to pay a compensation of Rs 5 lakh to the Indian couple, who were stuck in Thailand and Singapore as the bank did not activate their debit card for 10 days in 2008.
“The bank has got no love and respect for India. The reputation of India was at stake. Knowing fully well that Indians were trapped in a foreign country, it was the bounden duty of the manager to swing into action immediately. He committed an egregious mistake for taking no action for 10 days. It exposes the sloth and callousness on the part of the manager. This shows negligence, inaction and passivity on the part of the bank.”
“Foreigners always complain that due to procedural delays, they do not want to have business relations with this country. The lackadaisical approach by the bank is surprising. The bank manager did not make any effort to straighten out the problem,” the Bench headed by Justice J M Malik said.-from BS
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Linkfest:March 14,2016
Some stuff I am reading today morning:
Why Indian banks are in such a mess (Mint)
Foreign investors make a strong comeback (BS)
The largest macro market risk (Goldman Sachs)
Sunil Singhania: Long Term India Bull (OB)
Are negative interest rates unnatural? (Aswath Damodaran)
How to use PPF as a savings tool (Morningstar)
How good is Buffett really? (Evidence Investor)
Pune Property Case Study:Suyog Nisarg,Wagholi (Ravi)
Gold is saying greed, not fear (TRB)
The second smartphone revolution (A VC)
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BSE gets SEBI approval for IPO
Capital market regulator Securities and Exchange Board of India (Sebi) has provided in-principle not to BSE Ltd for an initial public offering (IPO).
BSE, the country’s second-largest exchange in terms of volume, has written to market regulator Securities and Exchange Board of India (Sebi) seeking an approval for theIPO and to list its shares on a recognized stock exchange.
Ashish Kumar Chauhan, managing director and chief executive officer, BSE said it will take around six to nine months for the exchange to file its offer document with Sebi.
“We hope that we will be able to file the offer document in the next six-nine months. As of now we don’t envisage issuance of any fresh equity. The IPO is likely to be an offer for sale (OFS) by existing shareholders,” said Chauhan.-from BS
(Anybody interested in buying/selling shares of BSE,kindly email me at Alpha Ideas )