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State Bank of India
Dow falls 508 points -Bears grip is not lose
Posted by :
Leave it.Tracked by: 0 Boarder
Dow falls 508 as panic takes over Wall Street
The Dow tumbles more than 5% in part because of Fed boss Bernanke`s gloomy economic outlook and continuing stress on financial companies.
The Nasdaq loses more than 100 points, and the S&P 500 drops below 1,000 for the first time since 2003.
Stocks fell to their lowest levels in five years today as fears grew about the global banking system`s ability to survive the worst credit crunch since at least World War II.
The Dow Jones industrials fell 508 points, or 5.1%, to 9,447. The Nasdaq Composite Index fell 108 points, or 5.8%, to 1,755, and the Standard & Poor`s 500 Index was off 61 points, or 5.7%, to 996.
Today`s close was the Dow`s lowest since Oct. 2, 2003; it`s down about one-third since peaking a year ago.
The Nasdaq`s close was its worst since August 18, 2003, and the S&P`s decline was its worst -- and its first close under 1,000 -- since Sept. 30, 2003.
Take your own cue for todays trading
v.krishnamoorthy...
NSE Announcements on SBI
Posted by : MMB MessengerTracked by: 0 Boarder
State Bank Of India has informed the Exchange that "The Central Government, in consultation with, the Reserve Bank of India and in pursuance of clause (d) of Section 19 of the State Bank of India Act, 1955 (23 of 1955), has nominated Dr. Rajiv Kumar as part-time non-official director on the Central Board of Directors of State Bank of India for a period of three years with effect from 8th September 2008 or until further orders, whichever is earlier"....
BSE Announcements on SBI
Posted by : MMB MessengerTracked by: 0 Boarder
State Bank of India (SBI) has informed BSE that the Central Government, in consultation with the Reserve Bank of India and in pursuance of clause (d) of Section 19 of the State Bank of India Act, 1955 (23 of 1955), has nominated Dr. Rajiv Kumar as part-time non-official director on the Central Board of Directors of State Bank of India for a period of three years with effect from September 08, 2008 or until further orders, whichever is earlier....
multibaggerstockadvisor.blogspot. com
Posted by : GuestTracked by: 0 Boarder
banking is the most volatile and high volume generating sector then what should we do and what should be our strategy next in this sector? is yet to be known which could be availed from the title of this mesage...
sbi s turn now
Posted by :
ch1ragTracked by: 0 Boarder
now it is sbi turn ..juss wait n watch...
EXIT marketss....nex taget 11000
Posted by :
vtycoonTracked by: 0 Boarder
don enta market unles it goes arnd 11000..
sEBI reforms +CRR rate wil bring rally fr 1 day,,,ab toh woh bhi nahi lagta
DOW down ova 700 points i expect same 2 be on sensex 700 pont down fr tomo,....
betta exit all longs n buy at lower levels....n short those whu havent fall in accordance d markets
ab sab marengee sab kee fundamental niklajagnegee
eg-HDFC BANk will come 2 1100
SBI - 1350
PNB - 450
RCAP-800
BF utilties
etc...anythin higger dan 52 week low short it n earn huge profits...
Resistance and Support level
Posted by : sankarantprTracked by: 0 Boarder
Will the banking stocks make a rally tomarrow with the welcome move by RBI
of reducing the CRR by 50bps points?
The Resistance and Support Level for tomarrow (07.10.08)
R1 1467.20 R2 1501.00 R3 1524.00
PIVOT 144.20
S1 1410.40 S2 1387.40 S3 1353.60
...
Appeal to our banks to increase Insce.cover
Posted by : Leave it.Tracked by: 0 Boarder
Dear friends,
You can see the difference how a bank in trouble or default is dealtwith in USA. There was a fiscal crisis. The senate met and took decisions collectively. whether it is wrong or right. There was a concerted attempt to discuss and to take a decision.
Here our PM and FM give ratio/TV talks and RBI issues statements.
The Govt. thinks that the other leaders are not worthy of consutation.There will be divergent views always. That is why we call for a discussion.
Now the political parties also do not comment on the Govt. attitude, so that some corrective steps are visibly taken. The opposition parties also to be blamed. When they meet , they simply make noice or stage walk out, without discusing the issues involved and that helps the Govt. to have a cake walk.
I am now concerned with the safety of lacs of depositors.The deposit insurance cover is also not increased. There is no voice from the economists,media and share market commentators. Here in USA, we have cover for an account upto 2.5 lacs US dollors. The trade unions like AIBEA and FCII are not touching this aspect. Are they not having bank accounts? It is really very unfortunate that the biggest union AIBEA which was able to give a call for all India Strike for two days, do not send any single point for the protection of bank deposits.Thwy all think that the PSU banks are not vulnarable for the crisis.Why they they have alimited cover for one lac of rupees.It is learned that mutual funds are also selling some holdings in NIFTY.
The fiscal crisis has spread to Europe.As there are many small countires, a concerted action to face the world economic crisis is not possible. In Ireland, the Govt. immediately covered with insurance for six banks . Is it not a signal to the country leaders? Perhaps all our radars are lent to Srilanka Govt.
I do not know when we all will see the reality. God alone should save this country...
sbi
Posted by : raman1280Tracked by: 0 Boarder
psu banks are outperforming at these levels of indices.and this will continue.good buy around1300...
DEPOSIT INSURANCE
Posted by : axyTracked by: 0 Boarder
USA govt has increased the deposit Insurance from USD 100,000/- to USD 250,000/-
Can Indian govt think of changing the insurance to 25,00,000/- to gain investor and depositors confidence with banking system deposits....
Will AIBEA ,bank Employees and F.M.act
Posted by : Leave it.Tracked by: 0 Boarder
there is a need for raising the deposit insurance cover for bank deposits. I am producing some sample views presented by our indian nations(NRIs)who had represented in the Indian News papers. We are concerned with Sensex and NIFTY. what is the anxiety index for the customers of all our banks?
Please read and make representation in this board, to draw the attention of the GOI and our finance minister to do something. The AIBEA has also a role to play as they are also concerned withthe good will of the public.
Here are a few sample letters:
Readers Opinions Write to Editor
Scared NRIs find Indian banks safer
sasi,kochi,says:India is a good place to invest but the bankers and bureaucrats make cumbersome rules. For instance,a Mandate Holder of an NRI account cannot ask the bank to send back the money to the NRI`s account. 30% tax is deducted on all NRO accounts and later one has to file a return,get refund from the IT Department, which is easier said than done. If the local residents have a TDS of 10% why 30% for NRIS. It seems that the Govt does not trust NRIs, they are Non Reliable Indians.
[4 Oct, 2008 2116hrs IST]
satish,USA,says:Economic times stop ridiculing or Gloryfying NRIs .Who is scared of having their money in Foreign Banks ?Do Indian BANKS have FDIC structure?what happned to scores of NBFC`s? did the depositors get their money ? Please just because US is going through a financial crisis does not mean Indian Financial Structure is GREAT !! Assume what happnes in India if a similar crisis of same magnitude happens in india and the kind of bikering and demnstratin that go round the country .Can INDIAN banks provide deposit Insurance for 4 crores?? Think of it .I am not praising USA but the attitude of the the ECONOMIC TIMES Journalism to gain readership at the cost of unethical and Immoral Journalism SHAME ON YOU ,Every news in the world is looked from INDIAN point of view I dont get it is this INDIAECONOMCITIMES? Or ECONOMICTIMES?
[4 Oct, 2008 2107hrs IST]
JACOB,BRUNEI,says:India is the best place to invest. Advising all NRI`s to invest in India their mother country .even if you are citizens of any other nation. It is high time to consider India. Nothing to lose, after all it is india, not to lose in any foreign country. Even if you had taken citizenship of any foreign nation India is a land of opportunities. So let`s look back once again to India.
[4 Oct, 2008 1027hrs IST]
Natarajan Rammoorthy,Chennai,says:How life comes a full turn? In 1991, when I was in the US, we were witnessing the greatest Foreign Exchange crisis. State Bank of India was the facilitator for India Development Bonds. Mr. Mahadevan and Mr. Thakur (posted at SBI Chicago) were going from place to place in US to help arrange funds from NRI`s. During one such program at Dearborn (next to Detroit), I was witness to questions from the NRI`s regarding the financial stability if the money were put in Indian banks. It was an exasperating moment for the SBI Officers who responded with dignity and politeness. An NRI asked whether the Indian Banks were insured by FDIC (American Government underwriting). An emotional Mr. Thakur said `India is the land of Ramayana. Hanumanji showed Lord Shri Rama and Lord Shri Sita in his heart. If I could open my heart you will see the Great Indian Civilization that has lived for 1000`s of years - a testimony to stability and righteousness.` It was a chilling moment of emotions and solidarity. Myself and fellow youngsters stood up and applauded the answer while expressing our dissent to the questioning NRI. Today, it is India they are after. Alas it comes back in a full circle right?
[4 Oct, 2008 0819hrs IST]
mm,delhi,says:Can someone please tell these NRIs that their money in US banks are secured by the FDIC of the US Federal government. Indian banks do not offer any security.
[4 Oct, 2008 0812hrs IST]
v.krishnamoorthy
Folsom,USA
...
multibaggerstockadvisor.blogspot. com
Posted by : GuestTracked by: 0 Boarder
the data should be studied well which could be availed at the title of this message before making any valuable investment...
BSE Announcements on SBI
Posted by : MMB MessengerTracked by: 0 Boarder
State Bank of India (SBI) has informed BSE that the winding up petition in respect of SBI Home Finance Ltd filed by M/s. Sandersons & Morgans, the legal counsels appointed by SBI, has been admitted by the Honourable High Court, Kolkata. SBI Home Finance Ltd. was defunct, trading in its shares had been suspended since October 2005 and SBIs exposure to the aforesaid Company has already been fully provided for / written off....
NSE Announcements on SBI
Posted by : MMB MessengerTracked by: 0 Boarder
State Bank Of India has informed the Exchange that: "The winding up petition in respect of SBI Home Finance Ltd., filed by M/s. Sandersons & Morgans, the legal counsels appointed by SBI, has been admitted by the Honourable High Court, Kolkata. SBI Home Finance Ltd. was defunct, trading in its shares had been suspended since October 2005 and SBIs exposure to the aforesaid company has already been fully provided for / written off"....
multibaggerstockadvisor.blogspot. com
Posted by : GuestTracked by: 0 Boarder
where shall we invest which counter is best and what to do next ???? all these sort of queries could be solved out at the title of this message who is ultimate and could be relied upon eyes closed...
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