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Andhra Bank
Now is the time to save our deposits.
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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.
v.krishnamoorthy ...
Now the GOI and Mr.P.C will look at .....
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Govt concerned over US financial meltdown\\\\\\\\`s fall-out .It is really due to the AIBEA strike call that shaked the conscience of the Govt. Atleast now our ministers and RBI should woke up before bringing any amenedment to the Banking act.
Will they learn from others failures? A mute Qn. tobe answered now.
Press Trust Of India / New Delhi September 28, 2008, 13:44 IST reports Business standard today as under.
The financial meltdown in the US may not not have had its impact in India so far but there is concern at the highest levels in the government about the possibility of its fall-out sometime later.
Sources say though Prime Minister Manmohan Singh, an economist himself, has expressed confidence in the resilience of the Indian economy, he is concerned over the situation arising out of the collapse of international reputed financial institutions on the Wall Street.
A section in the party also feels it may be wise to have early elections before the financial crisis has its impact in India and politically the environment goes against the government.
This section cites the remarks of Planning Commission deputy chairman Montek Singh Ahluwalia that it would be foolish to think that India would not not face any economic uncertainties in the future if the turmoil in the financial markets continued for long.
The prime minister, now on a trip to the US and France and returning mid-week, would have had the benefit of his talks with world leaders and some economists by the time he is back.-source: bus.std
When the biggest economy cries and their banks are bleeding and giving yellow papers one by one,our Mr.P.C says all is well with our banking system and we need not have to worry about much. Already AIBEA has given a strong signal to the Govt. If MOF is not meeting the leaders of economics, Mr.P.C. is definitely not on the right path. The employees strike call demands are not irrelevant, as the turn of events proves so. Their points must be earnestly considered, before bringing in any fresh ammendments to the banking bill.
v.krishnamoorthy
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Stocks to watchout for :
Posted by :
NooreshTracked by: 0 Boarder
Stocks to watchout for :
Andhra Bank and Syndicate Bank look good technically . Keep a watch for volumes.
Some stocks that may face resistance around the zones , only a crossover above them could trigger quick trades.
SBI around 1640 , Punj lloyd 315-318 , Union Bank 158 , BOI 300
Brushman Inds , Bang Overseas are two risky stocks that have sustained in these markets and have given a breakout and can continue to move another 10-20 %. High risk players can keep a watch .
for more search nooresh on google.......
Citi and And.Bk. fix transfer fecility.
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Citi and Andhra Bank enter remittance services alliance ANI
Wed, Sep 17 10:05 PM
Mumbai, Sept 17 (ANI/Business Wire India): Citi\\`s Global Transaction Services has been appointed by Andhra Bank in India to provide a range of white-labeled global remittance services.
Under the mandate, Andhra Bank will gain access to QuikRemit, Citi\\`s white labeled and customized remittance platform for banks, corporations and money transfer organizations, to enable end-to-end electronic remittance transfers between India and other global markets.
By white labeling Citi\\`s QuikRemit platform, Andhra Bank can offer its clients a single solution whereby they can efficiently and securely remit money internationally to India.
To enable this process, Citi will also provide technology support for its global remittances solution. For Andhra Bank\\`s international remittances business, Citi will also act correspondent bank and assist in clearing and collection of remittance flows.
This white labeled solution covers global remittance transactions via credit cards, debit cards and US-originating account debits using the Automated Clearing House (ACH) mechanisms.
QuikRemit will also allow Andhra Bank to process global remittance transactions originating from strategic markets Canada and UK, where there exists large Non-Resident Indian communities.
For Citi, the mandate marks a landmark for the Global Transaction Services franchise in India. The deal marks the first time Citi has white labeled a global remittances solution for a public sector bank in India and follows other significant wins for Global Transaction Services in this space regionally.
R.S. Reddy, Chairman and Managing Director of Andhra Bank said: \\\\...
Mandi is over
Posted by : gandalalTracked by: 0 Boarder
Dear dear Mandi in this counter is over. Previous low was 50 and now stock finds support at 53.5 . Once it touches 68 new Teji will start. I advise accumulate at 54 -55 range and dont panic if it goes down by a rupee....
FISCAL FALLOUT--A VIEW OF IMF CHIEF
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Fallout from financial crisis not over - IMF chief
AS THE POST WAS CUT IN THE MIDDLE,THE REST OF THE MESSAGE IS POSTED BELOW.
CONTINUE......
"What we see today in Lehman Brothers is something that started months ago," Strauss-Khan told a news conference in Cairo. "So the consequences for the financial sector are not over and we are going to see more of that."
Central banks mobilised worldwide on Monday as stocks sank after the bankruptcy filing of Lehman Brothers and sale of Merrill Lynch, another big U.S. investment bank once deemed too big to fail.
The IMF chief said the financial sector was likely to be smaller after the crisis as a result of more consolidation among big banks.
v.krishnamoorthy ...
In reply to:
FISCAL FALLOUT--A VIEW OF IMF CHIEF
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Fallout from financial crisis not over - IMF chief
CAIRO (Reuters) - Fallout from the global credit crisis is not over and more consolidation is likely in the financial sector, International Monetary Fund Managing Director Dominique Strauss-Kahn said on Monday.
However, Strauss-Khan said the causes of the crisis that led to the failure of Wall Street giants such Bear Sterns and Lehman Brothers had largely passed.
He reiterated his forecast that the global economy would recover in 2009.
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FISCAL FALLOUT--A VIEW OF IMF CHIEF
Posted by : Leave it.Tracked by: 0 Boarder
Fallout from financial crisis not over - IMF chief
CAIRO (Reuters) - Fallout from the global credit crisis is not over and more consolidation is likely in the financial sector, International Monetary Fund Managing Director Dominique Strauss-Kahn said on Monday.
However, Strauss-Khan said the causes of the crisis that led to the failure of Wall Street giants such Bear Sterns and Lehman Brothers had largely passed.
He reiterated his forecast that the global economy would recover in 2009.
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