The mutual fund industry is certain that the Sensex, which plunged to below 16,000-level on Friday, has hit rock bottom and there is only one way the market would move from here, which is upward. The move to provide more disposable income in the hands of individuals is also good for the markets. The Asset Management Companies are of the opinion that the India growth story is definitely on as far as the medium-to-long-term future is concerned.
LIC will kickstart its credit card business in September 2008.
As volatility continues to plague the emerging markets, India has been the worst performer after Vietnam this year. The US credit crisis and fears of a recession in the world's largest economy is compelling the foreign funds to dump stocks.
Although the recent turmoil in the market is viewed as a correction by the large fund houses, they are yet to foresee any good news, at least for the time being.
Bird flu epidemic in West Bengal has exposed the low levels of poultry insurance found in the state.
ICICI Venture has tied up with a global healthcare investor to put in funds in India's healthcare sector.
India's insurance sector is predicted to grow at 30% this fiscal compared to 95% of the last year.
Pvt life insurers are planning to foray into health covers, with standalone health insurance policies.
The survey revealed that firms were using a combination of measures like internal cost control and investment in new technology to combat the problem and stay afloat. There was a shift to a more capital intensive and labour saving manufacturing process in the small and medium scale sector. This meant significant downsizing in labour force on account of rupee appreciation.
Any initiative backed by a political institution and intention, would not achieve the desired result of serving the common man. The pre-condition of success is its management by a private entity with ownership shared between the promoters and the common people.
Large banks across the country might be crying foul on the recent suggestion of the Reserve Bank India (RBI) to do away with the charge on inter-bank ATM usage, but the Kolkata-based banks have largely welcomed the move.
A foreign visitor to the city agreed, but with a note of caution. "West Bengal as an investment destination remains to be first on the list for the Australian mining companies as this state is rich in minerals," said John McCarthy, Australian High Commissioner to India, in Kolkata to attend a seminar.
The reign of terror unleashed by gang lords and lawlessness has led industry to fear the revival of the dreaded decade of the 1990s when 29 murders were reported in a span of 31 days.
Sources at the bank told Business Standard that talks were on with 2-3 vendors and the final decision is expected in the next 2-3 weeks.
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