3. 2. RIL lifts veil of secrecy over arms, but only just. RIL has put Annual Reports of 82 of its 96 subsidiaries, it has still unraveled many layers of RIL. For 12 remaining subsidiaries , RIL has not provided Annual Report , but summary statements , unaudited Balance sheet, Profit & Loss statements. Company is silent on 2 of its subsidiaries -Reliance International Exploration & Production Inc. - Reliance Cypress Ltd. RIL has not disclosed details on its 51 joint venture.
4. 3. Bank’s Deposits in Sept. see highest rise this yr. Total deposits rose by Rs 33,581 cr. Deposits have increased by 14.5% & credit has risen by 19% on year on year (yoy) basis. Due to increase in interest rates this has led to increases in deposit rates.
5. 4. Bhave raps i-Bankers for grossly overpricing IPOs There is surge in IPOs at price disproportionate to their Revenues, Profits & Net –Worth. Lots of IPOs don’t yield much more return to investors . 62% of the 116 IPOs between Aug,2007 to Aug,2010 are traded lower than sale price while 35% are higher.
6. 5. Hopes belied, extra 1% EPF interest to be taxed. The Labour Ministry has hiked the Employees Provident Fund (EPF) rate to 9.5% but Finance Ministry Notification says that anything in excess of 8.5% will be taxed. This is for the first time that income from P.F would be taxable. Labour Minister = Mallikarjun Kharge
7. 6. Cabinet OK for giving statutory power to UIDAI. The Govt. gives legal sanction for introduction of NIAI Bill 2010. Sanction is needed as the Govt plan to allocate the first set of no. to citizen in few weeks from Maharashtra. Project is of Rs 3000cr. By 2014 the authority plans to allocate 600 million numbers.
![1. FIIs limit for G-Sec., Corp.Bonds up to $5 billion. ,[object Object], - Government Securities from $5 billion to $10 billion - Corporate Bonds from $15 billion to $20 billion.](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)