General Trading Chat

[siddhant4u]

RBI again defers Indian Accounting Standards implementation by banks


https://www.livemint.com/industry/b...ds-implementation-by-banks-1553271684415.html
....
The new rules -- based on the IFRS9 standards created in the aftermath of the financial crisis -- were supposed to kick in at the start of the new fiscal year that starts on April 1, after being delayed last year. According to Fitch Ratings’ local unit, India’s state-run lenders would have had to increase provisions by as much as 1.1 trillion rupees ($16 billion) in the fiscal first quarter ending June 30 if the rules had gone ahead.


That would have forced public sector lenders to raise “substantial" amounts of extra capital, beyond the estimated 1.9 trillion rupee infusion already committed by the government for the two-year period to the end of this month, Fitch’s India Ratings & Research said in a report last month.
......

 

[timepass]

TaMo may get a boost tomorrow, after yesterday's beating.

https://www.moneycontrol.com/news/b...ces-by-up-to-rs-25000-from-april-3688061.html

Tata Motors to hike passenger vehicle prices by up to Rs 25,000 from April

 

[timepass]

RBI again defers Indian Accounting Standards implementation by banks


https://www.livemint.com/industry/b...ds-implementation-by-banks-1553271684415.html
....
The new rules -- based on the IFRS9 standards created in the aftermath of the financial crisis -- were supposed to kick in at the start of the new fiscal year that starts on April 1, after being delayed last year. According to Fitch Ratings’ local unit, India’s state-run lenders would have had to increase provisions by as much as 1.1 trillion rupees ($16 billion) in the fiscal first quarter ending June 30 if the rules had gone ahead.


That would have forced public sector lenders to raise “substantial" amounts of extra capital, beyond the estimated 1.9 trillion rupee infusion already committed by the government for the two-year period to the end of this month, Fitch’s India Ratings & Research said in a report last month.
......

Yes I read that article here, but don't understand what it means/ implies. Can someone explain ?

https://economictimes.indiatimes.co...banks-bad-loan-piles/articleshow/68532680.cms

 

[siddhant4u]

The new rules means banks need to have lot more money to keep aside as capital. These rules were introduced 2 years back but were delayed by govt for obvious reasons. By these standards indian banks will need extra capital of 16 billion $ all this when credit crunch is going on on top of bad loans!

There is lack of will to clean banking system. Bad times are coming but RBI recently prolonged these by allowing weaker banks to lend again.

 

[siddhant4u]

My assumption is this accounting standard will be scrapped soon just like other economic data process which doesn’t suit the headlines

 

[iwillwin]

Suresh Raina complete 5000 runs in IPL

 

[josefjohny]

Yes I read that article here, but don't understand what it means/ implies. Can someone explain ?

https://economictimes.indiatimes.co...banks-bad-loan-piles/articleshow/68532680.cms

https://www.goodreads.com/book/show/13259882-bull-by-the-horns?from_search=true

 

[timepass]

As I mentioned in the general elections thread, the top names in any scams go unpunished...

https://www.ndtv.com/india-news/raj...e-and-fall-of-wall-streets-poster-boy-2012230
Rajat Gupta's Tell-All: The Rise And Fall Of Wall Street's Poster Boy

from the article...
"......
"Prosecutors are all about winning. They are not necessarily searching for the truth," Gupta told NDTV, claiming he was a scapegoat.
"We had this dramatic financial crisis. It is very clear now if you look at it as to who the primary people who were responsible for that financial crisis. It was a mortgage lending-led crisis, financial institutions, banks, housing finance companies, were very involved in leveraging themselves, making loans that they should have never made, so on and so forth and practices that were quite not right. Not one of those people have been held accountable. Not a single bank CEO, senior management, has been convicted. They have been fined heavily which obviously, the share holders of the banks pay," he said.
....."

 

[TraderRavi]

View attachment 34076

what type of bhavishyavani is this ? how will it help ?

 

[timepass]

View attachment 34076

what type of bhavishyavani is this ? how will it help ?

Warrenbhai is saying "You will die for sure, maybe tomorrow maybe after 100 years"