Future Group CEO Biyani on Business Outlook
Linkfest:July 25,2013
Some stuff I am reading today morning:
Holcim reaps Rs.3,500 Crore restructuring windfall (Mint)
Why Spicejet lost its CEO (BusinessLine)
Amartya Sen:Apologist for Congress (ET)
SEBI warns RBI not to choke liquidity (FE)
RBI move makes India Inc see red (BS)
Survival tactics for older job seekers (Bloomberg)
Please admit me to stock pickers anonymous (TurnkeyAnalyst)
2014 poll unique for one reason:Modi (UsualSuspects)
If you are going to be wrong,it pays to be spectacularly wrong (TRB)
Not everyone needs to own a home (NYTimes)
I had earlier blogged about how private bank stocks have been hammered over the last one week.
Well, yesterday,RBI went one step further-it added two more tightening measures:
- The overall limit for access to LAF by each individual bank is set at 0.5 per cent of its own NDTL outstanding as on the last Friday of the second preceding fortnight. This measure will come into effect immediately, i.e., from July 24, 2013 and will remain in force until further notice.
- Currently, banks are allowed to maintain their Cash Reserve Ratio (CRR) prescribed by the RBI on an average daily basis during a reporting fortnight, with a minimum of 70 per cent of the required CRR on a daily basis. Effective from the first day of the next reporting fortnight i.e., from July 27, 2013, banks will be required to maintain a minimum daily CRR balance of 99 per cent of the requirement.
Expect private bank stocks to get hit today
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