The Indian Middle Class comprising 400 million people is the backbone of India’s economy, on which the world is betting for better investment returns. The Indian Middle Class is a unique mass of humanity not found anywhere else in the world, representative of certain typical Indian Values, which transcend regions, religions, castes and tribes, which are by themselves very diverse in India, and are a marketer’s dream in today’s consumption driven world economies. What makes the Indian Middle Class Great? Continue reading What Makes The Indian Middle Class Great?
Category Archives: Economy
RBI Tries To Contain Inflation By Increasing SLR By 1%
The Reserve Bank of India (RBI) has hiked the SLR ( Statutory Liquidity Ratio) by 1% from 24% to 25%, while other key ratios have been kept unchanged. The move is aimed to keep a check on the inflation rate as it will suck up Rs 30,000 from the banking system. After the RBIs move banks are unlikely to increase rates in auto, home and education loans in the near term. But the RBI has raised the requirement for banks to keep the money aside while lending to this sector from 0.40 per cent to one per cent. This is a move to have provision for the NPAs in this sector. Continue reading RBI Tries To Contain Inflation By Increasing SLR By 1%
Is US Dollar Losing Steam as Global Currency for Oil Trade?
The US Dollar has weakened on growing concerns that middle east Gulf Oil trading countries might opt for a basket of currencies instead of US Dollar. This is based on a supposedly secret meeting of the oil trading countries with the officials outside the region to discuss dropping the dollar for oil trade. A change from dollar to other currencies has both economic and political aspect; it is less likely that this would happen quickly as there is lack of consensus on econo-political issues such as the Gulf Monetary Union. Continue reading Is US Dollar Losing Steam as Global Currency for Oil Trade?
Foreign Direct Investment (FDI) into India crosses $100 bn
New Delhi: Foreign Direct Investment (FDI) into India has crossed $100 bn mark to reach $100.33 bn since July 2000. This financial year has seen inflow of $10.5 bn. About 44% of the total investment has taken the Mauritius route due to India’s double taxation avoidance treaty with Mauritius. Investors worldwide are looking to invest in India because of 2 key reasons: Continue reading Foreign Direct Investment (FDI) into India crosses $100 bn
Indian Banks decide to block all your credit cards if you default on one!
Customers with multiple credit cards will not be allowed to use any of them if they default on any one of them. Credit card companies have revised their terms and condition to implement this. This move has been initiated by ICICI Bank, which has already informed its customers about the upcoming change from 5th October 2009.Now the bank is authorized to block credit card on any other account of ICICI Bank after one defaults in any one of its multiple cards. Banks would not provide any additional notice for this action. Continue reading Indian Banks decide to block all your credit cards if you default on one!