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14 The foreign shareholder policy should be uniform across all banks, according to the legal experts. INDEPENDENT PERSPECTIVE On corporate governance, the RBI lays down a stringent policy with regards to independent directors. It says that at least 50% of the NOHC should be independent directors. The RBI mentions that these directors ought to be totally independent of the promoter, promoter group and all their customers and suppliers. Further, the RBI specifies that no other financial entity that is functional under the NOHC will be allowed to undertake any activity that the new bank has under its ambit. If there are any overlapping activities they have to be moved to the bank with proper notification to the RBI. The central bank will also specify terms and conditions if the situation so arises. While the RBI lays a lot of emphasis on the independent director clause, experts say that this covers a miniscule portion of corporate governance required for banks. While it is definitely not an easy task on hand, the RBI has to ensure quality Beyond Market 10th Oct ’11 when it allows people to enter the banking system, which can be called the backbone of the economy. It cannot be a decision based on size or shareholding pattern and independent directors. Having said that, there is the crying need to open up the banking sector. This will encourage competition and result in customers getting better loans and deposits that can be customised to their needs. PROS AND CONS an apple a day keeps the doctor away regular investments keep worries away Your financial health is our concern. At Nirmal Bang, it’s a relationship beyond broking... With new players in the field, innovation in product design will come to the fore and customers will stand to benefit. We have seen innovations such as gold loans, the brainchild of a few NBFCs and innovation on home loans, such as 0% prepayment charges on home loans that has been introduced by Axis Bank. Many such innovations may come up thanks to the entry of new players and, thus competition. The other benefit the borrower might have is that of lower interest rates. With more players in the field, banks may offer better financial deals or offer valuable partnerships on auto loans and mortgages. Overall, it will be beneficial for customers. The RBI has been of the opinion that if new banking licences have to be granted, they have to encourage financial inclusion. There is some truth to this. The banking penetration in India is abysmally low with mortgage at 7% of the total GDP as compared to 23% in other developing countries and over 80% in the US. But the onus should be as much on the existing players as it should be on the new bank. It is evident that very few will qualify on this ground. Going by the track record of the RBI, banking experts say that although there are many who want to be in the banking industry, it does not look like the RBI will grant more than four to five licences at the most. A lot of filtering will be applied to pick those who are serious about their venture. Although some clauses do seem a tad unfair at this point in time, it is not without reason that the RBI is treading cautiously now. The Banking Act needs to be amended before these licences are granted in the first place and there seems to be no hurry to do that. Signals indicate - the floodgates will not open anytime sooN. EQUITIES | DERIVATIVES | COMMODITIES | CURRENCY | MUTUAL FUNDS | IPOs | INSURANCE | DP SMS ‘BANG’ to 54646 | e-mail: contact@nirmalbang.com | www.nirmalbang.com It’s simplified...
Micro analysis. Mega gains. Trading at Nirmal Bang is based on extensive research and in-depth analysis, where we focus on the smallest of details and turn them into an advantage for you. Over the years, the analytical approach coupled with decades of experience has helped us maximize returns for our investors and thereby inspire confidence in them. EQUITIES* | DERIVATIVES* | COMMODITIES | CURRENCY* | MUTUAL FUNDS ^ | IPOs ^ | INSURANCE ^ | DP* SMS ‘BANG’ to 54646 Contact at: 022-3926 9404 | e-mail: contact@nirmalbang.com www.nirmalbang.com Disclaimer: Insurance is a subject matter of solicitation. Mutual Fund investments are subject to market risk. Please read the scheme related document carefully before investing. Please read the Do’s and Don’ts prescribed by Commodity Exchange before trading. The PMS Service is not oering for commodity segment. *Through Nirmal Bang Securities Pvt. Ltd. ^Distributors #Prepared by Research Analyst of Nirmal Bang Commodities Pvt. Ltd. REGD. OFFICE: Sonawala Building, 25 Bank Street, Fort, Mumbai - 400 001. Tel: 022 - 39267500 / 7501; Fax: 022 - 39267510 CORPORATE OFFICE: B-2, 301/302, Marathon Innova, O Ganpatrao Kadam Marg, Lower Parel (W), Mumbai - 400 013. Tel: 022 - 39268000 / 8001; Fax: 022 - 39268010 BSE SEBI REGN No. INB011072759, INF011072759 & INE011072759, NSE SEBI REGN No. INB230939139, INF230939139 & INE230939139 DP SEBI REGN. No NSDL: IN-DP-NSDL-136-2000, CDS(I)l: IN-DP-CDSL-37-99, AMFI REGN. No. arn-49454 NCDEX REGN. NO. 00362, FMC Code-0075, MCX REGN. No. 16590, FMC Code-MCX/TCM/CORP/0490, MCX SX-INE260939139, PMS-INP000002981
Page 1: The IMF, in its World Economic Outl
Page 4 and 5: 4 PROPHECY OF DOOM The repercussion
Page 6 and 7: 6 The IMF, in its World Economic Ou
Page 8 and 9: 8 There could be further pressure a
Page 10 and 11: 10 Movements In Key Policy Rates In
Page 13: The Reserve Bank of India has been
Page 17 and 18: made it clear that Gujarat is the s
Page 19 and 20: Contact: Sushmita Desai: +91 77380
Page 21 and 22: Honda Siel Cars India Ltd (HSCIL),
Page 23 and 24: Despite the immense potential of th
Page 25 and 26: Now, Commodity Trading Is No More A
Page 27 and 28: (Janssen) and Lundbeck - that can h
Page 29 and 30: Dena Bank Advances V/s Industry Adv
Page 31 and 32: COMMODITY FUTURES Nickel $28,000/to
Page 33 and 34: FORTNIGHTLY OUTLOOK FOR CURRENCIES
Page 35 and 36: In accordance with the announcement
Page 38 and 39: 38 Beyond Market 10th Oct ’11 Adv
Page 40 and 41: CHANGE IN PRICE AND OPEN INTEREST 4
Page 42 and 43: 42 MOVERS AND LAGGARDS IN MUTUAL FU
Page 44 and 45: 44 Beyond Market 10th Oct ’11 A M
Page 46 and 47: 46 their homework and wait for clea
Page 48 and 49: LEARN THE ART OF COMMODITY INVESTIN
Page 50: Kunal Shah, Head of Commodity Resea

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