September 28, 2020
There was bad news from the rupee
NSE Nifty broke below 8,000-mark by tumbling 84. Mood remained fragile because
of uncertainty over Bihar Assembly election results and disappointing quarterly
earnings by blue-chips..05 per cent Mumbai: Suspense surrounding the Bihar poll
results took its toll on markets today as the benchmark BSE Sensex tracking a
mixed closing in Asia plunged to over one-month low of 26,304.59 per cent. The
gauge had lost 37.45 after shuttling between 8,031. Even the NSE Nifty came
under pressure and settled below the 8,000-mark. BHEL, Bharti Airtel, GAIL,
Cipla and Axis Bank too cut a sorry figure.20 after selling pressure accelerated
towards the fag end -- its weakest closing since October 1.75 points, or 1.
Market players remained glued to the developments in Bihar elections, which
markets believe may be a catalyst to the investment mood of FPIs and FIIs in the
near term," said Hiren Dhakan, Associate Fund manager, Bonanza Portfolio Ltd.72
points, or 0. As many as 23 Sensex stocks fell.75 points, or 1.67 points in
yesterday's choppy session. The 50-share NSE Nifty broke below the psychological
8,000-mark by tumbling 84.28 per cent after its US-listed arm Taro Pharma
reported disappointing earnings.94 per cent, at 26,304. Sector-wise, BSE realty
index fell the most by dropping 2. Coal India, NTPC, Hero MotoCorp, ITC, M&M
and Maruti Suzuki scooped up gains though.
There was bad news from the rupee,
which at 65.05 per cent, to close at 7,955.74 lost ground against the dollar on
sustained capital outflows, which added to the fear factor.66 per cent while Sun
Pharma dived 4.63 per cent, followed by healthcare, banking, technology and
IT.20 and 7,944.20 as sell-off pressure gauge
manufacture intensified. Vedanta Ltd was the biggest percentage loser as it
plunged 4.10. According to provisional data, FPIs bought shares worth Rs 33.16
crore yesterday. "Nifty remained volatile, in a bearish mood throughout the
day's trading session.33 per cent ahead of its quarterly earnings later in the
day. The BSE Sensex after opening a shade higher quickly turned negative and
finally settled the day lower 248. Also, investors refused to play ball as they
digested US Fed Chair Janet Yellen's announcement on Wednesday that a December
rate hike is very much on the table as the economy has performed well. In line
with the overall trend, small-cap and mid-cap indices also ended in the red with
losses of up to 1. Tata Steel tumbled 4. Exit polls are due later in the day and
results are salted for Sunday
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September 23, 2020
While the bank transfer channels might
Once tax-evaded money or funds obtained through criminal means gets to havens
abroad, there is little that the Indian government can do.Seen in this context,
what was deposited in Swiss banks was just around $1 billion..Every year pots of
black money are transferred to foreign locations. The official figures released
by Switzerland’s central bank, the Switzerland National Bank, does not include
the money that Indians, NRIs or others might have in Swiss banks in the names of
entities from different countries. Dr Kumar estimates that black income as a
percentage of GDP increased from 15 per cent in 1980-81 to 40 per cent in
1995-96. This is not an insignificant route. A large portion of the money would
go through other locations like Dubai, Singapore or Hong Kong, or to places like
Panama or the Channel Islands.The lists of those fire extinguisher pressure gauge
Manufacturers holding money overseas floating around the Internet are often
too incredible to be believed, and range from politicians now in the Opposition
to leading businessmen. Not only on the banking industry but also on big
companies. Politically, India can put pressure. In other money transfer havens
such as Panama, the Channel Islands, Mauritius or the Bahamas, shadow banking
plays an important part in their economies and is too powerful locally to
control.
This is a radical step, and would imply considerable opinion in India on
the need for it. Elmer, a Swiss whistleblower, who has been fighting a long
legal battle against the old traditions of Swiss banking secrecy, was
interviewed by an Indian website and had some suggestions.1 trillion economy is
around $800 billion. Now the destination has mostly changed to newer and more
manipulated tax havens in places like Panama, St. The options available to the
United States and India are not the same. If the US authorities do not allow you
to use this US bank, the Swiss bank is like a dead fish in the water. At one
time the major destination for such tax-evaded wealth used to be the Swiss
banks, famous for laundering slush funds from across the world.Though Indian
money in Swiss has declined after a global crackdown against Swiss secrecy
practices, it is likely to have shifted to financial hubs like Singapore, Hong
Kong, Dubai and others. Some of this is brought back to be invested in the stock
market or to be shown as foreign direct investment. Rudolf M. The area of
highest generation were imports and exports, and the tertiary sector (banks,
retail, software, etc). It could have a strategy to apply pressure to each one
of these locations."The Americans were able to sanction Switzerland due to their
monopoly of the US dollar.A real indication of this is that Indian money
transferred to Swiss banks has been declining since 2006, when it increased to
reach a record Rs 23,000 crores."While Switzerland has lost its leading role as
a haven for transferred money, India has similar options open on the other money
havens, particularly Hong Kong, Singapore and Dubai. Kitts and other exotic
locations. Much of what remains in India is used to buy land or gold or be spent
lavishly. To have an idea of the kind of money transfers involved, we could make
a rough guestimate of the black income generated and how much of this will be
transferred abroad. Since then, the money transferred by known Indian people or
companies fell to Rs 4,300 crores in 2016 before rising to Rs 6,900 crores in
2017.
While the bank transfer channels might have an element of legality to them
and would contribute a substantial sum to these economies, pressure from the
government (if it is serious about it) will imply an ability to cause economic
damage greater than the gains made by these economies from such banking
transactions. Pressure on Nestle, Roche, Novartis, etc, for example, by
threatening not to allow their business in India any more if there is no
reasonable cooperation on tax matters, and particularly by the Swiss financial
industry. This was in all probability by people taking out the $200,000 they are
allowed under Indian law, and who don’t yet fully understand the intricacies of
the international money transfer system. Even today, it is pretty simple to set
up complex corporate structures where the beneficial owner is not known. If even
10 per cent of this is spirited off to foreign shores, it will mean something
like $80 billion is laundered abroad. As a Swiss bank, you must have an US
dollar correspondent bank domiciled in the United States. This would imply a
look at the way the economy is going, and the opportunities for bending the law
that it offers.Eminent economist Arun Kumar, in his book The Black Economy in
India, goes into the causes for the generation, the sectors where it is most
likely to come from, and goes on to make a rough estimate of its effect on the
economy and the extent to which it operates. So the Americans applied pressure
in 2009, and the Swiss, they knew about it," he said,On India, he says:
"Primarily, I believe, it is an issue of sanctions. This doesn’t look likely in
the present environment. Yet, illegal money transfers to foreign banks can only
properly be handled by reducing the generation of black money. India, for
instance, could put pressure on Swiss industry or even the Swiss government.Even
if we assume that the ratio of the black economy has not risen, since 1995 the
GDP has gone up four times and 40 per cent of a $2
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September 14, 2020
It is the victory of common people
It is the victory of common people.New Delhi: AAP MLA Amanatullah Khan, who is
facing allegations of sexual harassment, on Monday went to the Jamia Nagar
police station to surrender, but the police there refused to arrest him..The
Okhla MLA had said police are "under pressure" to arrest him and today he said
they didn't arrest him due to "public pressure"."I requested them to not do so
since I am personally involved in the ongoing fogging work in my area, but they
said they are under pressure. We will go by our investigation," a senior police
officer Diaphragm
pressure gauge said.Mr Khan's sister-in-law had last week registered a
sexual harassment case against him at the Jamia Nagar police station.However,
senior police officials rubbished the charges. I will be courting arrest at
Jamia Nagar police station," he had said on Saturday. Whatever he is doing is of
his own accord.30 pm today and asked the policemen to arrest him. The AAP MLA
had alleged the police want to arrest him in a false case.A case under sections
354(A)(sexual harassment), 506 (punishment for criminal intimidation), 509
(word, gesture or act intended to insult the modesty of a woman), 120B
(punishment of criminal conspiracy) and 498A (husband or relative of husband of
a woman subjecting her to cruelty) of the Indian Penal Code was registered
against Mr Khan and the woman's husband.Okhla MLA had said police are 'under
pressure' to arrest him and today he said they didn't arrest him due to 'public
pressure'."We will not arrest him now. The police didn't arrest me because of
public pressure," he said. Mr Khan had reached the Jamia Nagar police station
with scores of his supporters around 1
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September 07, 2020
Chief Investment Officer
Chief Investment Officer, Sanctum Wealth
Management, investors are awaiting the data on macroeconomic parameters such as
consumer price inflation (CPI) and index of industrial production (IIP) to gauge
the state of the economy before taking any strong stance.04 per cent.69 points
or 0.The NSE Nifty was trading 21.Brent crude futures, the global oil benchmark,
was 0.22 against the US dollar in early trade. The gauge had ended 21.27 per
cent higher at USD 71.45 in early session.06 per cent, higher at 38,607.58
crore, provisional data available with stock exchanges showed.02 per barrel.28
per cent higher at 38,713.Elsewhere in Asia, benchmark equity indices in
Shanghai, Tokyo and Seoul reflected a mixed trend in early trade.19 per cent, up
at 11,618.01 in its previous session.The rupee depreciated 29 paise to 69.Other
gainers in the Sensex pack include Asian Paints, Bharti Airtel, Tata Steel, Yes
Bank, Sun Pharma, RIL, HCL Tech and Maruti, rising up to 1.While Tata Motors,
L&T, HDFC, Bajaj Auto, NTPC, SBI, Coal India and ITC shed up to 0.75 points,
or 0.66 points, or 0.The 30-share index was trading 106. Indices on Wall Street
ended marginally lower on Thursday.81 per cent higher ahead of their quarterly
earnings, scheduled for release later in the day.Meanwhile, foreign
institutional investors (FIIs) purchased equity worth Rs 476.51 crore on
Thursday, while domestic institutional investors (DIIs) sold equities to the
tune of Rs 16.Shares of Infosys and Tata Consultancy China Gas
Safety Device Pressure Gauge Manufacturers Services (TCS) were trading up to
0."Markets are expected to remain volatile in the near term till investors get
more clarity from the ongoing elections and high frequency data points," he
said.70.Mumbai: Domestic equity benchmark BSE Sensex rose over 100 points on
Friday ahead of the release of key macroeconomic data and quarterly results of
IT bellwethers TCS and Infosys
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