Life insurance and asset management companies (AMC) are likely to be high-growth businesses due to the financialization theme that is playing out, Rusmik Oza, Head of Fundamental Research, Kotak Securities, says in an interview to Moneycontrol’s Kshitij Anand.Edited excerpts:Close Q) What is your assessment of the September quarter earnings? If you had to describe them in one word, what would that be? What were the highlights?Rusmik OzaHead of Fundamental Research|Kotak Securities 'Corporate tax cut will boost earnings by 15-20%; HDFC Bank, ONGC, M&M among 20 cos to benefit the most'Cement, oil & gas among 3 sectors likely to outperform; here’s why'Nifty unlikely to test 12,000; expect the slump in earnings to continue in Sept quarter'A) If one has to summarise the September quarter results in one word, it would be ‘Decent’. Further, if it needs to be summarised in a sentence, it would be ‘Optically healthy on earnings, due to corporate … [Read more...] about Don’t miss! Stocks from life insurance and AMC likely to be included in Sensex & Nifty
Foreign trade policy
While a debate is going on whether the RBI should do more to ease credit to MSMEs, officials said the central bank has provided special training to nearly 11,000 officers at various commercial banks on lending to micro, small and medium enterprises. This training has been provided to officers working at nearly 3,000 bank branches covering all districts in India through more than 2,000 special workshops in the last three years, officials said.These are mostly specialised bank branches catering to the MSME sector where this multi-level training has been provided, covering branch managers, senior officers and even faculty members of staff colleges who can further pass on the training to the bank employees.Most importantly, the training exercise was executed in consultation with the government, including with the active involvement of the MSME ministry and the RBI's objective has been to create a conducive environment to help these small entrepreneurs and companies avail easy and faster … [Read more...] about RBI trains 11,000 bank officers on MSME credit, nearly 3,000 branches covered
Amol AgrawalThe Reserve Bank of New Zealand (RBNZ) has long been a pioneer of many things in central banking. The RBNZ pioneered the practice of inflation targeting 30 years ago in 1989 which soon became a gold standard for central banking worldwide. After the 2008 crisis, it continued to be a pioneer in both monetary policy and financial stability.The RBNZ has made another recent change which is interesting and worth exploring for other central banks.Close Till November 2018, the RBNZ senior management comprised one governor, one Deputy Governor (in charge of financial stability) and two assistant governors — one responsible for economics and the head of operations. On November 2, 2018, the central bank reorganised itself and this led to number of assistant governors increasing from two to five. The new functions given to the three new AGs were: governance, strategy and corporate relations; people and culture and chief financial officer. related news RBI supersedes … [Read more...] about Banking | Should RBI have a Deputy Governor based outside Mumbai?
At a time when foreign brokerages are struggling and shutting shop in India, South Korea's Mirae Asset, which already has a mutual fund in India, is planning to enter the broking business.It is also going to have verticals dedicated to private equity and investment banking.Mirae Asset Group scouting for private venture/equity investments in India and is setting up investment banking and broking business through Mirae Asset Capital Market India Pvt. Ltd.Close Swarup Mohanty, Chief Executive Officer, Mirae Asset Global Investments (India) said, " We are looking at Mirae Asset Capital Markets coming out here and establishing itself in India. We will be applying for the license soon."Himadri BuchAssistant Editor|Moneycontrol.com Essel Group stake sale in Zee: Will it release logjam for MFs?SEBI move to up minimum PMS investment could benefit mutual fundsExclusive | L&T MF CIO Soumendra Nath Lahiri resignsMohanty was speaking at Mirae Asset press meet held in Mumbai to discuss business … [Read more...] about Mirae Asset Group to foray into PE, investment banking and broking biz
This week Americans were treated to the eighth GOP candidate debate, a mix of ego, argument and patriotic huff-puffery that may have caused some viewers to think they accidentally switched prescriptions with Mugatu. For those who saw the foreign policy segment and were wishing somehow this was all an elaborate fiction, Netflix offered a few moments of solace. That’s when House of Cards‘ President Frank Underwood launched his own campaign under the entirely appropriate banner of FU2016. Onward! advertisement Care Norway “Dear Daddy” What: A PSA from Care Norway uses a sobering letter from an unborn daughter to her dad that traces offensive but seemingly harmless behavior to heartbreaking conclusions.Who: Care Norway, SchjaervenWhy We Care: Statistics are one thing, and we have those–35% of women worldwide will experience physical or sexual violence at some point in their lives. But this short film puts a very personal message behind some of the root … [Read more...] about Homer Simpson’s YouTube Ad, Abby Wambach’s Gatorade Goodbye: Top 5 Ads Of The Week