Market and Business News

- The new framework will improve disclosures and bring more stability to the banking system A stable banking system is essential for financial stability. In such a situation, it is essential that banks are properly regulated and that they do not take unnecessary risks. Credit quality and bad loan levels in the banking sector often attract public attention. It is important for the regulator to keep a close eye on the investment portfolio. The Reserve Bank of India has recently issued revised investment norms for the banking sector. It is worth noting that the recent banking troubles in the US were partly the result of inadequate investment regulation. In Silicon Valley-like banks, concentration on both the asset and liability fronts was very high. Although there is no such threat facing Indian banks, reforms in the regulatory framework based on experience and evidence will help strengthen the regulatory framework. As far as the existing regulatory guidelines on investment appraisal a

- Chart Indication - Ashok Trivedi The BSE index (close 67838.63 on 15-09-23) is bullish from the bottom of 64732.57. Currently the 12-day average is 66519.15 and the 48-day average is 65561.08 and the 200-day average is 62658.20. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. 21st and 22nd are the turning days of gain. Above 67928 up to 67980, 68170, 68350, 68530 possible. 67440, 67250, 67150 below 67614 are considered support. Balakrishna Industries (closing price Rs.2538.85 on 15-09-23) is in favor of correction from the bottom of 2302.60. Currently, the 12-day average is 2411.70, the 48-day average is 2384.76, and the 200-day average is 2247.99. The daily MACD is bullish. Weekly MACD is bearish. Shows neutral on daily and weekly basis as well as overbought position on monthly basis. 2544 above 2547, 2566, 2610, 2672, 2735 possible. 2423 below 2485 is considered support. Central Bank (closing price Rs.47.10 on 15-09-23) i

- Antenna - Vivek Mehta - Be it young or old, if there is any doubt even after taking the policy, the policy can be canceled within 15 days There are increasing cases of senior citizens being tricked into getting policies by taking large premiums and promising them regular pension. Agents of insurance companies sell policies to them by making false promises. These agents are only interested in getting their commission money. They have no interest in the plight of the elderly. Bank managers are also responsible for mis-selling. The biggest fraud is in the name of giving high lifetime pension. They are guaranteed a good amount of pension by taking premiums ranging from 3 lakhs to 30 lakhs. They make this investment with the hope of getting regular pension after a few months. In fact, after making an investment with any agent, a person who wants to take a pension insurance policy needs to get a fresh understanding of the policy by asking other agents who are familiar with him or have

- Sales Tax - Soham Mashruwala There is a provision for inspection and redundancies under the GST Act. Further, a provision has been made regarding what the officer can seize. The officials of the account are bold and try to take everything recklessly but do not consider the limit under the law. A very noble judgment of the Delhi High Court in this regard Deepak Khandelwal Proprietor Shri Shyam Metal Vs. Commissioner of CGST (WPC 6739/2021 dated 17.8.2023) which is discussed in today's article. The facts of the case The petitioner was raided by the Government and an investigation was conducted under Section 67(2). The business of the petitioner was fair sale of non-ferrous metal. According to the investigation, silver bars (about 34 kg) of the petitioner, Rs. 7 lakhs in cash, 4 mobile phones, sales books, check books of various bank accounts, and accounting books were seized. A case was also registered against the petitioner and he was also granted bail. According to the accou

The international crude oil market is again witnessing volatility amid supply concerns. In view of this, the price of crude oil per barrel has reached the level of 90 dollars which was not seen since last year. The rise in oil prices followed news that two major producers, Saudi Arabia and Russia, plan to extend voluntary supply cuts for the next three months. Saudi Arabia has talked about reducing crude oil production by 10 lakh barrels per day, while Russia has also expressed its desire to reduce supply by 3 lakh barrels per day. Due to this, the supply of crude oil may remain low during the winter months. Energy demand increases in the Northern Hemisphere during the winter months. It becomes necessary to consider the geopolitics behind the decline in oil production. The drop in crude oil supply in the international market has added to the trouble for the US and European countries and is also seen as a sign of growing rapprochement with Saudi Arabia and Russia under the leadership

- The Chinese government expects the economy to grow at a rate of five percent in 2023. But according to economists it will be much less The People's Bank of China has been a major exception among major central banks in cutting interest rates. While most central banks are struggling to control inflation, China's central bank is taking measures to stem weak growth prospects and price falls. However, the Chinese government expects the economy to grow at a rate of around 5 percent in 2023. But economists believe it will be much lower than this. Some long-term projections suggest that growth will slow to 2 or 3 percent by the end of the decade. What is special is that between 2000 and 2019, China's economy has grown at an average rate of 9 percent annually and has played the largest role in global growth. This sharp decline could have far-reaching implications not just for China but for the global economy. Currently analysts are not predicting further volatility. Broader con

- The Conundrum of Economics - Dhawal Mehta - No government in the world can satisfy all the demands of the citizens There are two major economic threats facing the Modi government in next year's elections, one of which is inflation, and particularly an exorbitant rise in food, fuel and fertilizer prices. Another danger is the increase in the unemployment rate. In terms of politics, the current government's biggest threat is from 'India'. If there is no split in 'India' and all its parties fight together, Modi can put the government in trouble. A third fear haunts any political party in the world and that is the incumbency factor, any national party loses its luster in ten years. People of the ruling party amass immense power and wealth, corruption makes bridges, dams, roads so weak that they collapse with a single rain, the government puts its men on autonomous bodies and takes over universities, colleges, government bodies, etc., harassing the opposition.

Mumbai: The bullion market was officially closed today due to Saturday at the Mumbai jewelery market. At the close, gold prices continued a slow recovery while silver prices retreated. The price of silver in the world market was 23.64 to 23.65 dollars an ounce low to 23.39 to 23.40 at the end of the week at 23.56 to 23.57 dollars. Market prices were under overall pressure amid indications that new Chinese demand for silver, platinum and palladium in the global market is slowing as the Chinese economy continues to weaken. However, global gold prices continued to fluctuate amid sideways fluctuations. The price of gold in the world market was low from 1925 to 1926, from 1919 to 1920, and from 1929 to 1929, and finally from 1925 to 1926. In the Mumbai bullion market today, the price of 10 grams of gold without GST was trading at Rs.58,900 at 99.50 and Rs.58,900 at 99.90 and Rs.59,150 at 99.90 without GST. Mumbai silver prices today were Rs.73175 to Rs.72800 without GST per kg. In Mumba

Mumbai: On the global front, the re-inflation-inflation factor has alerted the central banks of various countries and now they are thinking of raising interest rates again. The US Although the Federal Reserve kept interest rates unchanged last week, it has warned that the situation is not yet favorable, indicating that one more increase of 0.25 percent is possible this year and that it will cut interest rates by half a percent instead of one percent in 2024. With the effect of which China is trying to bring the economy back on track by taking stimulus measures upon stimulus. But despite this, the situation of instability with uncertainty is still permanent. Stock markets at home followed a historic rally following an expected major correction after the G-20 meeting. Funds, analysts have flagged overvaluation following a wild rally in small, mid-cap companies-stocks, forcing players and investors to shed overbought positions in several stocks. Large gaps have been seen in many stocks.

New Delhi, 25 September-2023, Monday Banking sector regulator Reserve Bank of India - RBI has fined three major public sector banks. RBI has imposed monetary penalty on Indian Bank and Punjab and Sindh Bank including State Bank of India. These three banks have been fined for violating KYC norms in account opening and anti-money laundering norms. SBI was fined Rs 1.30 crore RBI has issued an order to State Bank of India on September 21-2023 and imposed a penalty of Rs 1.30 crore. SBI did not follow the Central Bank's guidelines on penalty loans and advances, which led to this penalty. The regulator has imposed this penalty under the powers conferred on it by the bank. The RBI has issued a notice to the bank following an inquiry into the financial position of the bank on 31-March-2021, in which the risk assessment report revealed several deficiencies. Meanwhile, more information was given by the bank after oral submissions in personal hearing after the bank responded to the RBI&#

New Delhi, 25 September-2023, Monday Reserve Bank of India - RBI's Monetary Policy Committee meeting will be held in the first week of October next. However, before that, a research report of SBI has claimed that the RBI may keep the rate constant even in the meeting to be held in October. The meeting will be held on October 4-6. RBI usually holds 6 bi-monthly meetings in a financial year, in which the country's apex bank takes decisions on interest rates, money flow, inflation and various economic indicators. What is in the research report of SBI? A research report by SBI said that considering the domestic level, we expect the repo rate to remain at 6.50 percent and with inflation coming down from earlier, this repo rate position is likely to remain stable for a long time... This report by SBI Prepared by Chief Economic Advisor Soumya Kanti Ghosh. In the report, Soumya Kanti Ghosh has said that, we believe that the inflation rate may remain below 5 percent in the financial

India can now see the government's efforts to revolutionize semiconductors. American semiconductor company Micron Technology has started work on its first plant in India. Micron has enlisted the help of India's Tata Projects for this plant. For which the company has also started the recruitment process for this plant. This investment will be made by Micron The plant is being built by Micron Limited in Sanand, Gujarat. The company is going to invest $2.75 billion in this factory. For which Micron organized a Bhoomi Poojan ceremony on Saturday. In this way the construction work of Micron's first Indian factory in Sanand Industrial Area started. Tata builds micron plant The Micron factory is being built on a 93-acre plot in Sanand GIDC-II Industrial Area. Semiconductors will not be produced in this plant of the American company, but assembly, test, marking and packaging work will be done in this plant. Along with the ground-breaking ceremony on Saturday, Micron signed an

India can now see the government's efforts to revolutionize semiconductors. American semiconductor company Micron Technology has started work on its first plant in India. Micron has enlisted the help of India's Tata Projects for this plant. For which the company has also started the recruitment process for this plant. This investment will be made by Micron The plant is being built by Micron Limited in Sanand, Gujarat. The company is going to invest $2.75 billion in this factory. For which Micron organized a Bhoomi Poojan ceremony on Saturday. In this way the construction work of Micron's first Indian factory in Sanand Industrial Area started. Tata builds micron plant The Micron factory is being built on a 93-acre plot in Sanand GIDC-II Industrial Area. Semiconductors will not be produced in this plant of the American company, but assembly, test, marking and packaging work will be done in this plant. Along with the ground-breaking ceremony on Saturday, Micron signed an

Mumbai: RBI Governor Shaktikanta Das said that the Reserve Bank has noticed that even in the country's big commercial banks, one or two members of the board are ruling. He has also told the banks that such policies should be stopped. A PTI report said Das, while addressing directors of urban cooperative banks in a meeting organized by the RBI, said that there should be free and democratic discussion on the board of the bank. One or two members of the bank's board or the chairman or vice-chairman should not dominate the board too much. We have seen this fact in large commercial banks. Wherever we have seen this, we have told that such method will not work, said Das. Each director should be allowed to present his side and one particular director should not have the final word on any matter. Giving an example of what is called a good board of a bank, the governor said this. However, he did not say anything in detail. This problem was seen earlier in promoter-led Yes Bank. Thi

Mumbai: RBI Governor Shaktikanta Das said that the Reserve Bank has noticed that even in the country's big commercial banks, one or two members of the board are ruling. He has also told the banks that such policies should be stopped. A PTI report said Das, while addressing directors of urban cooperative banks in a meeting organized by the RBI, said that there should be free and democratic discussion on the board of the bank. One or two members of the bank's board or the chairman or vice-chairman should not dominate the board too much. We have seen this fact in large commercial banks. Wherever we have seen this, we have told that such method will not work, said Das. Each director should be allowed to present his side and one particular director should not have the final word on any matter. Giving an example of what is called a good board of a bank, the governor said this. However, he did not say anything in detail. This problem was seen earlier in promoter-led Yes Bank. Thi

Mumbai: Reports are rife that the National Stock Exchange (NSE) is set to extend trading hours for equity derivatives such as futures and options (F&O). NSE is working on extending the trading hours from 6:00 pm to 11:00 pm. Market participants can participate in futures and options trading after regular trading hours of 9:15 am to 3:30 pm. Of course some sections are saying that NSE is going to extend trading hours till 11:30 pm. NSE is thinking of enabling Indian traders to trade through these additional trading hours in the fast changing trend along with global events. Exchanges are expecting their trading volumes to increase through these extended hours as major traders shift to rivals such as Gift City where trading is taking place around the clock. The proposal to extend these trading hours has been submitted to the capital markets regulator Securities and Exchange Board of India (SEBI). SEBI has already formulated rules to allow exchanges to continue F&O trading till

Mumbai: Reports are rife that the National Stock Exchange (NSE) is set to extend trading hours for equity derivatives such as futures and options (F&O). NSE is working on extending the trading hours from 6:00 pm to 11:00 pm. Market participants can participate in futures and options trading after regular trading hours of 9:15 am to 3:30 pm. Of course some sections are saying that NSE is going to extend trading hours till 11:30 pm. NSE is thinking of enabling Indian traders to trade through these additional trading hours in the fast changing trend along with global events. Exchanges are expecting their trading volumes to increase through these extended hours as major traders shift to rivals such as Gift City where trading is taking place around the clock. The proposal to extend these trading hours has been submitted to the capital markets regulator Securities and Exchange Board of India (SEBI). SEBI has already formulated rules to allow exchanges to continue F&O trading till

Mumbai: The government is expecting the inclusion of Indian bonds in JP Morgan's benchmark emerging market index to strengthen the rupee, while research firm Nomura has predicted a weak outlook for the rupee. JP Morgan has decided to include Indian government bonds or government securities in its benchmark emerging market index from June 2024 announced. There is no need to assume that inclusion in the index will lead to volatility in the currency market, said Chief Economic Adviser V Ananth Nageswaran while speaking to reporters last week. The inclusion of bonds in the index is also likely to strengthen the Indian rupee. In a report prepared by Nomura, the outlook for the Indian rupee is expected to remain weak. After the JP Morgan announcement, the rupee strengthened against the dollar and was seen at the level of Rs 82.80. However, this rally did not last long and the rupee has now tumbled to 83.14 per dollar. Actual inflows from passive funds are unlikely to start before Ju

New Delhi: Between the financial years 2021-22 and 2022-23, investment in Indian agri-tech based start-ups has decreased by 45 percent. The main reason for this is believed to be investors becoming more cautious amid rising global interest rates and rising uncertainty. According to a report by consulting company FSG, global agri-technology investment has declined by 10 percent between 2022 and 2023. According to the report, investment in this sector is expected to decline in FY 2024 as well. However, it is likely to increase in FY 2025. It is expected that startups will continue to focus on increasing profits to face the next financial year. According to the report, investors are likely to be cautious and deploy their limited funds in established business models. Investment dynamics are likely to change on the back of global economic trends. Startups should use this slow investment period to refine their business model and move towards profitability, it added.

- Land Revenue Laws and - Lokabhimukha Guidance - - H.S. Patel IAS (Retd.) - Non-cultivation permission is required to be subordinated to the lands included in the Master Development Plan The basic law for regulating land is the Land Revenue Act-1879. At that time and even today the form of this law is regulatory. (Regulating) Land is an important part of social and economic development as an important cadastral. The main purpose of this law enacted during the British rule was to collect revenue from land and land revenue was the main source of income of the state government at that time. The account manual is still in existence today and it mainly contains the Village Form No. 6 Mutation Register, Form No. 8 and 7T12 which are important for the occupier of the land and the changes in it. Some time ago, the lands which were previously surveyed and revenue records prepared, were re-surveyed as part of updating the records and the records prepared (computerized) and declared certifie