Ganeshaspeaks: No major overhauls for Indian banking sector
The banking sector in India is under the influence of Ketu Mahadasha and Moon Antardasha, which will rule till 1st August 2012, says Shri Dharmesh Joshi of Ganeshaspeaks.
July 03, 2012 / 17:16 IST
The banking sector in India is under the influence of Ketu Mahadasha and Moon Antardasha, which will rule till 1st August 2012, says Shri Dharmesh Joshi of Ganeshaspeaks.
By Shri Dharmesh Joshi of GaneshaspeaksNo major overhauls for the Indian banking sector in store, in spite of the RBI's best intentions, foresees Ganesha.The rate at which the Reserve Bank of India, the RBI provides short term loans to banks is called the repo rate, whereas the portion of deposits that banks have to compulsorily keep with the RBI is called CRR. In its latest monetary review policy meeting held on 18th June, 2012, the Reserve Bank of India (RBI) decided not to reduce the repo rate and cash reserve ratio (CRR), crashing all expectations. It kept them unchanged at 8% and 4.75% respectively. Consequently, the reverse repo rate under the LAF remains unchanged at 7% per cent, and the marginal standing facility (MSF) rate and the Bank Rate 9%. It had been expected that the RBI would implement a 25 basis point reduction in CRR as well as in the repo rate. But visibly, RBI decided to keep the aforementioned rates unchanged. RBI's premise here was the global economic uncertainty and increasing inflation, and the need to tackle them, by preventing lesser cash circulation in the market.This had been a much-awaited development, but now it looks set to be of minimal consequence. What lies ahead for Banking sector in India and the Indian stock markets? Taking into account the base period (01-01-2002) and the date of launching (23-06-2003) of Bank Nifty, Ganesha has prepared the Horoscope of the Indian banking sector. Looking at the planetary positions in the chart, Ganesha predicts the possible implications of the RBI's current monetary policy, particularly regarding to the repo rate and CRR.
Astrological Analysis• As per the natal chart of the banking sector, Cancer in placed in the first House and the Ascendent Lord is placed in the House of destiny.• Moon is placed in the zodiac sign Pisces and in the Revti constellation. The Lord of Revti Constellation is Mercury. The Ascendant Lord is placed in the House of destiny, and the Lord of the House of destiny is placed in the first House, which indicates the strength of the Indian banking sector.• Sun, the Lord of the House of economy, is placed in the 12th House, the House of foreign traders. This combination invites foreign banks to open and establish their banking operations in India. However, Saturn is also placed in the 12th House, because of which foreign banks have been unable to gain expected profits.• At present, the banking sector in India is under the influence of Ketu Mahadasha and Moon Antardasha, which will rule till 1st August 2012.
Shri Dharmesh Joshi is a protege of Bejan Daruwalla and belongs to the team of astrologers declared as official successors to his astrological legacy, by none other than Bejan Daruwalla himself, in an event in Mumbai on the 23rd Nov, 2009.
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