Posted by dhirendra1972 in Asian Markets, Asin Share markets, Equity, Equity Investment, Equity Market, Equity markets, Finance, Financial Capital, financial market, Loans, Local Equity Market, Local Market, Online Marketing, Open Market.
Tags: 3G, CDMA, GSM, Relince Communication
Good Evening friends,
I think Anil Ambani is going to give some extra ordinary surprise to people of india. He just announce that his headed company Reliance Communications is going to come up with GSM mobile service in first week of January 2009.
Anil Ambani, head of Reliance Anil Dhirubhai Ambani Group (ADAG), on Tuesday announced the launch of Reliance Communications GSM mobile phone services in the first week of January 2009.
He did not announce the tariff plan details but promised “GSM (tariff) rates that will make people forget the Rs-501 CDMA offer of 2003.” Reliance currently has 60 million customers, including over 1.7 million individual overseas retail customers.
The tailored bouquet of GSM and CDMA mobility platforms gives Reliance customers the option to choose the service. Around seven out of 10 people opt for GSM service while churn out of CDMA users is less than 2 per cent.
“We will cover 11,000 cities, 24,000 towns and more than 60,000 villages. We will be covering all railway routes and national highway to give the best and cost affective service to our customers,” said Ambani. Rs 10,000 crore has already been invested in the GSM venture, Ambani said. “Reliance Communication will participate in 3G spectrum auction on both CDMA and GSM platforms, and it will be on the national level,” Ambani said.
Posted by dhirendra1972 in Bank Securities, Equity Market, Global Market, Loans, Marginal Growth, Raised Deposits, Savings and Current Account, Term Deposit.
Tags: Banks, Bonds, Growth
Good morning friends. I was reading some article with referenced to The Economic Times and I agree. The last week of October 2008 has turned out to be the most hectic for banks in recent times. Despite bunching up of three days of holidays because of Diwali, banks have seen much higher business volumes in that week than during any fortnight.
According to the latest RBI data, between October 24 and October 31, banks sold bonds worth Rs 45,975 crore, raised deposits worth Rs 25,401 crore and lent Rs 33,270 crore. On an average, fortnightly variation typically is between Rs 15,000 crore and Rs 25,000 crore (either a dip or rise) on all three parameters — bonds sold, term deposit and loans. Bankers attribute the spurt in business to the turbulence in the global market.
It prompted depositors to park more money with banks rather than investing in equities market while many companies rushed to borrow money from banks on fears that there could be liquidity crunch. To create liquidity to finance borrowers, banks sold government securities.
The flight to safety has resulted in term deposits rising Rs 94,811 crore to Rs 30,40,276 crore during the month of October alone. The growth is largely on account of special schemes launched by most banks where they offered returns of around 10.5%. In fact, term deposits have been rising since September, following the collapse of Lehman Brothers which triggered a sharp fall in the equities market globally. As a result, investors were seen withdrawing money from mutual funds and equities market and depositing it with banks.
Also, several depositors may have shifted deposits from savings and current account to term deposits. This is indicated in RBI data, which shows that demand deposits (saving and current account) have dipped in October by Rs 21,509 crore.
But even as banks were offering higher rates, deposits are growing at a slower pace than loans. October saw non-food credit — loan to the manufacturing sector, individuals and industry — rise Rs 1,02,760 crore while deposits grew Rs 73,302 crore. Till October end, on a year-on-year basis, credit rose 28.5% whereas deposits increased 20.7%.
RBI data also shows that bank loans to corporates have doubled to Rs 2,82,37 crore between April and October 2008 compared with Rs 1,41,837 crore in the corresponding period last year. However, the same period has seen a marginal growth in deposits. For instance, between April and October 2008, deposits stood at Rs 3,18,500 crore as against Rs 3,01,563 crore in the corresponding period last year. Meanwhile, investments in government bonds stood at Rs 18,717 crore in October 2008.
