New Delhi, Oct 6 (PTI) Drawing some lessons for the Indian banking industry from the ongoing global financial turmoil, Finance Minister P Chidambaram said a bank should function as a bank to avoid landing in the kind of trouble being faced by the lenders in the US and Europe.

"A banker can only be a banker. If he tries to be something else, we will face the same crisis as the US and Europe are facing today," he said while speaking at a special banking summit on north-eastern states here.

Pointing out that banking system was not a substitute for government, civil society organisations or NGOs, he said, banks can only play a limited role of a facilitator for development by providing credit.

"A bank has to be a bank. And the bank can only be a bank if money that is lent comes back to the bank," he said while responding to the demand of extending the scope of the farm debt waiver scheme in the north eastern region also.

Attributing the US sub-prime mortgage crisis to failure of borrowers to return the money to banks, Chidambaram said, "Look at the consequence. The entire banking system in the western world stands completely frozen today." Following the financial crisis, he said, "Nobody (in the US) is lending to anyone despite the central bank pumping in billions of dollars... Nobody lends a pie to anyone. The chairman of one of the largest banks in the world told me that his bank has stopped lending since January 2008." Unfortunately, he added, elementary truth about banking is missed by intelligent persons while discussing issues concerning poverty alleviation and reducing regional disparities.

Responding to various concerns raised by the representatives of the north eastern states, Chidambaram said that number of bank branches can only increase gradually in the region. Neither the branch network nor credit-deposit (CD) ratio can increase suddenly as "there is a limit to growth", he said, adding there has been substantial progress during the UPA rule.

As regards financial inclusion, Chidambaram said, the report of the Sardesai Committee was likely to be received by the Ministry in the next 10 days. "I will take a decision on the report within one to two days of receiving the report," he added.

Speaking on the occasion, Minister for Development of North Eastern Region Mani Shankar Aiyar said banks need to adopt unconventional approach and out of box solutions to deal with the typical problems of the north eastern region.

Unless north-east catches up with the rest of the country, he said, India cannot achieve double digit economic growth rate.

RBI deputy governor Usha Thorat in her address pointed out that during the last three years several new branches and ATMs were opened in the north eastern region and the CD ratio has significantly improved.

Given the difficult terrain of the region, she said, mobile banking can be used to make small payments.

State Bank of India Chairman O P Bhatt said SBI would post about 1,000 new recruits in the north east out of 25,000 it was planning to hire during the year.

In addition, he said, SBI would be opening 66 new branches taking the number of branches to 544 in the north east by the end of the current year.

Sikkim Chief Minister Pawan Chamling, in his address, underlined the need for significantly raising the CD ratio in the region. ...

~ Peace is a journey of a thousand miles and it must be taken one step at a time. ~

Lyndon Johnson.............

NEW DELHI: Reliance Power, an Anil Dhirubhai Ambani Group (ADAG) company, has sought another coal block (Bijul) near its Sasan ultra mega power p

roject (UMPP) in Madhya Pradesh. The company is willing to invest about Rs 5,000 crore in the next four-five years to develop the block. The coal produced from Bijul would be used by group’s power plants.

In a letter to Prime Minister Manmohan Singh, ADAG chairman & CEO Anil Ambani said: “Our preliminary planning shows that we can start the mining operation from Bijul block as early as next 4-5 years, i.e., at least 7-8 years before the current expectation of production. It would also bring in much needed investment of over Rs 5,000 crore in coal sector.”

The block is under Coal India. Its subsidiary Northern Coalfields proposes to bring the block under production after 12th Plan. Reliance Power has asked for the block as it is not only joining its existing three coal blocks namely Moher, Moher-Amlohri extension and Chhatrasal in Singrauli coalfields, but its development in isolation is not possible by any other company. The Sasan UMPP has three captive coal blocks for Sasan UMPP in Madhya Pradesh. The government has recently allowed Reliance Power to use excess coal from the three captive blocks (having about 750 million tonne of reserve) to its proposed 4000-mw Chitrangi power project in the state.

The request for Bijul block came close on the heels of Reliance Power’s proposal to allot another coal block (Semaria) near Sasan UMPP. Semaria block also touches boundaries of its existing captive coal blocks allocated for Sasan UMPP.

ET..........................

Good Morning Mr GABA,
nice to see you with beautiful lines, one from my side----------

`Ek tum ho ki har ek dil main utar jate ho
Ek ham hai ki har ek dil se utar jate hai.`


plz join me on` Different Versions of Love Quotes` thread in
Quotable quotes to continue our quotes, sayari ,j okes...etc............

thnx & regds...
Vani...............





( reply for this post-------What`s your survival strategy?
Market Strategy - Long Term
Reply By JAGDISH GABA-----------------------

latikav,just out of context please HUM INTEZAR KAREIN,HUM INTEZAR KAREI TERA QAYAMAT TUK, KHUDA KARE KE QAYAMAT HO AUR TU AAYE BYE N TAKE CARE...)

...

`The best and most beautiful things in the world cannot be seen or even touched - they must be felt with the heart.`


By Hellen Keller...

Dos and don’ts

• Economic crisis. market meltdown. rising interest rates. rising inflation... times are, indeed, tough. Here are 10 recommendations on what you should and shouldn`t do to keep your financial health on track.

What you should do
• Follow the news. Swinging markets and new regulatory initiatives... things are changing quickly. Each development affects different sectors differently. Follow the financial media-and Business Today`s Money section, for instance-to keep abreast of the latest developments in India Inc. and for advice on how to profit from them.

• Get your finances in order. There has never been a better time to make a budget and start paying off your debt and credit cards, personal loans, etc. If possible, transfer your loans from a bank that`s charging a higher rate of interest to one that promises a cheaper rate.

• Rethink your plans to retire. If you`re expecting to retire soon, consider holding off for a while, if possible, until things calm down. That will give you time to reassess and, if need be, modify your plans.

• Call your financial adviser. With end-of-the-year tax planning an annual ritual, now is a good time to make an appointment with your tax adviser, no matter what the economic outlook. He or she may have some advice on how to tweak your finances as you ride out the current storm.

What you shouldn`t do
• Bail out. Dumping your stocks or equity mutual funds now, when values are especially low, will guarantee that you turn paper losses into real ones. Even if there`s more downside to come, staying on course often pays off during times of economic uncertainty.

• Stop saving. Those regular contributions you`ve been making to your savings or retirement accounts are an important part of good financial discipline, and there`s no reason to stop them now. We`ve long recommended the virtue of making regular, monthly savings. Continue this habit, even if it means cutting down on other things. like the weekly family outing, or that after-office drink with friends.

• Speculate. While lower prices of shares, create opportunities, speculation can get you into big financial trouble. Avoid it.

• Take on new debt. Be careful about acquiring new debt. Economic downturns can affect job stability and investment incomes, making it difficult to determine how much debt you can handle. If you must borrow, say, to put a child through college or to buy a house, be doubly sure that you`ve examined all the options and risks.

• Stop living. Although these times demand extra caution, there`s such a thing as over-reacting. So, don`t overreact. Reflect carefully and, where necessary, adjust. But don`t stop enjoying the little things of life. You`ll only make yourself sad.


Business Today.............

Stick to your financial plan
If you already have a savings plan, don`t deviate from its objectives. It`s vital as it gives you the discipline required to make investments in times of distress. You also need to keep a positive cash flow and spend less in tough times. Many savvy investors have used this extra cash to make aggressive investments. Also, don`t forget your asset allocation. "Do a proper asset allocation depending on the market scenario and your own risk profile. It depends on your age also. Youngsters can take on more risk by increasing their exposure to equity," says Angel Trade`s Bamare.

Stay on track
Eight tips for a better tomorrow.

• Don`t attach much importance to short-term events
• Keep your bank accounts in order; be credit-worthy
• Clear old debts before it`s late. High interest rates may haunt you later
• Deploy surplus cash in highyielding deposits/instruments. You will get positive real returns when inflation eases
• Pick value stocks trading at a discount for the long term
• Seek professional help and build an investment portfolio that suits you
• Avoid freely offered stock tips. If everyone knows it, how can you make money?
• Be clear in your mind on what you want to be: investor, trader or speculator

Consult professionals
One can, in fact, avoid messing up one`s finances and meet targeted returns with professional help from outside. "The advice of a professional adviser/organisation is crucial to the investment decision making process," says ING`s Bimal. Indians are the biggest savers in the world, but many get their calculations wrong because they tend to copy a plan that best worked for a friend or a relative. "Avoid tips that are freely offered. These are for speculators, carry high risks and there`s a higher probability of going wrong. How can you make money if a piece of information is known to everyone, and that too, before you?" asks Jainani.

Bimal explains that an investment strategy differs from person to person depending on one`s goals, risk tolerance, age, income, earning potential, etc. It`s only after assessing all these that a portfolio strategy can be created to help the investor achieve his financial goals in a tax-efficient way.

The current bout of uncertainty is unlikely to last for long, given that the Indian economy is still growing at a fast pace-the worst case scenario projects a GDP growth rate of 7-7.5 per cent. Oil prices are down. Inflation will dip eventually. And demand should continue to improve. But before things change in the economy, it`s time for investors to tweak their financial situation to set themselves up for future growth.

Business Today............

We will guide as far as possible and as allowed by the boarder rules for the do`s and dont`s in the financial Crisis. This is in wake of saving millions of investors amidst of financial crisis. I am Venkat from Training8m, Queensland, Australia...

Yestderday, BUY orders for 34478 Reliance shares were pending on NSE....

No amount of experimentation can ever prove me right; a single experiment can prove me wrong. Albert Einstein TC-071008-Q-01...

Unfortunately most investors (especially the long-term, wealth-accumulating types) consider just BUYING and HOLDING portfolios (as per their term perspectives) as `INVESTING` ... having just about ZERO knowledge of even the basic principles of "equity/asset management". Contrary to popular belief, `equity management` isn`t the task of a fund manager alone, it HAS to be practiced by all investors worth their salt !...

Anyway, It looks god story. Few basics of Investing A- profit Booking B- stop Loss C- Opportunity Cost D- Hire expertised services if you have no knowledge. Decide exit with desired profit as well as loss.... This lady is only LADY without any one in the worldto guide her?? Thats great...... Is it msg of the day ??? I love My INDIA...........

The journey of a thousand miles must begin with a single step. Lao Tzu TC-061008-Q-03...

Stick to your financial plan If you already have a savings plan, don`t deviate from its objectives. It`s vital as it gives you the discipline required to make investments in times of distress. You also need to keep a positive cash flow and spend less in tough times. Many savvy investors have used this extra cash to make aggressive investments. Also, don`t forget your asset allocation. "Do a proper asset allocation depending on the market scenario and your own risk profile. It depends on your age also. Youngsters can take on more risk by increasing their exposure to equity," says Angel Trade`s Bamare. Stay on track Eight tips for a better tomorrow. • Don`t attach much importance to short-term events • Keep your bank accounts in order; be credit-worthy • Clear old debts before it`s late. High interest rates may haunt you later • Deploy surplus cash in highyielding deposits/instruments. You will get positive real returns when inflation eases • Pick value stocks trading at a discount for the long term • Seek professional help and build an investment portfolio that suits you • Avoid freely offered stock tips. If everyone knows it, how can you make money? • Be clear in your mind on what you want to be: investor, trader or speculator Consult professionals One can, in fact, avoid messing up one`s finances and meet targeted returns with professional help from outside. "The advice of a professional adviser/organisation is crucial to the investment decision making process," says ING`s Bimal. Indians are the biggest savers in the world, but many get their calculations wrong because they tend to copy a plan that best worked for a friend or a relative. "Avoid tips that are freely offered. These are for speculators, carry high risks and there`s a higher probability of going wrong. How can you make money if a piece of information is known to everyone, and that too, before you?" asks Jainani. Bimal explains that an investment strategy differs from person to person depending on one`s goals, risk tolerance, age, income, earning potential, etc. It`s only after assessing all these that a portfolio strategy can be created to help the investor achieve his financial goals in a tax-efficient way. The current bout of uncertainty is unlikely to last for long, given that the Indian economy is still growing at a fast pace-the worst case scenario projects a GDP growth rate of 7-7.5 per cent. Oil prices are down. Inflation will dip eventually. And demand should continue to improve. But before things change in the economy, it`s time for investors to tweak their financial situation to set themselves up for future growth. Business Today............