Indian Economy: News and Discussion

[Spindrift]

Yes most.of them recovered. But I so wish that my fund manager had more balls than you.
Chutiya and his bank went bollocks the moment VIX touched 40-45.
Even yesterday before market was about to open I asked his advice to buy MSFT, apple and Alibaba. He was like have you studied MSFT .. and advised me not to invest in it. And when market closed I saw that MSFT and Apple was at top again.

I asked him 15 days back that I want to include stuff like Put options, Inverse ETFs, Volatility ETFs, and Volatility call options in my portfolio. Idiot even then laughed it off. I would have made shit tonne of money in this crash but because of the idiot I end up losing a bit.

You might want to add tech companies that offer web conferencing solutions...

 

[captscooby81]

New Delhi: Vistara chairman Bhaskar Bhat said they were evaluating Air India as the Centre has started the national carrier's disinvestment process...

"We are evaluating Air India. Which company would not be interested in evaluating a sovereign airline of the country?" Bhat asked. "Whether we bid or not comes later."...

Read more at: https://english.manoramaonline.com/business/news/2020/03/03/vistara-may-bid-for-air-india.html

 

[captscooby81]

Government plans Rs 42,000 crore Make in India boost for mobile phones
Pankaj Doval | TNN | Updated: Mar 3, 2020, 09:28 IST


NEW DELHI: In one of the biggest incentive schemes to boost domestic manufacturing of mobile phones and their components, the government has worked out a production-linked incentive (PLI) package of nearly Rs 42,000 crore for those making in India, planning to offer a benefit of 4-6% on incremental sales (of goods manufactured locally) for a period of five years.


Companies making and selling high-end devices, such as iPhone from Apple and the Galaxy S and Note Series by Samsung, would be the biggest beneficiaries, as would some homegrown players like Lava, Karbonn, Micromax, and Intex.


Scheme aimed at making India a hub

The scheme -- which will be rolled out by the IT ministry and has been prepared in consultation with the ministries of finance and commerce as well as the

Niti Aayog
-- is aimed at making India a hub for manufacturing of electronics and components, standing parallel to other manufacturing powerhouses such as China and Vietnam, highly-placed sources told TOI.


“The electronics hardware manufacturing sector faces the lack of a level-playing field vis-à-vis competing nations… (and) suffers from a disability of 8.5% to 11% on account of lack of adequate infrastructure, domestic supply chain and logistics; high cost of finance; inadequate availability of quality power; limited design capabilities and focus on R&D by the industry; and inadequacies in skill development,” a source in the IT ministry said, while making a case for the booster.


The government plans to offer incentives under the scheme to large contract manufacturers (as defined in the FDI policy circular of 2017) on sale of phones above the invoice value of $200 (a little over Rs 14,000). Those to benefit will include global contract manufacturers such as Foxconn, Flex and Wistron, all of whom are making products in India. However, some companies such as Oppo, Vivo and even Samsung are not too happy as the incentive is for devices with ex-factory price of above $200, and the majority of phones sold by them are below this cost.


The other group to benefit will be “domestic companies”, defined as those “owned by resident Indian citizens”, again as defined in the FDI policy circular of 2017. These include entities such as Karbonn, Lava and Micromax, which are currently struggling but may benefit from the booster. “A company is considered as ‘owned’ by resident Indian citizens if more than 50% of the capital in it is beneficially owned by resident Indian citizens and/or Indian companies, which are ultimately owned and controlled by resident Indian citizens,” an official said.


The government wants to cut the ballooning bill of electronics imports. It hopes that incentives through the scheme will help create incremental production of Rs 8.2 lakh crore worth of mobile phones and their parts, generate

exports
of Rs 5.8 lakh crore, while creating 2 lakh fresh jobs and contributing Rs 4,782 crore to the exchequer through direct tax revenue.


“The total cost of the scheme is envisaged at Rs 41,795 crore and it will be initially available for approval of new applications for a period of three months. This will be a centrally-sponsored package and will not have an overlap with any existing schemes in electronics manufacturing,” one of the source said, adding, “India will be well-positioned as a global hub for electronics system design and manufacturing (ESDM) on account of integration with global value chains, becoming a destination for mobile phones exports.”


As per the plan, the scheme will extend an incentive of 4% to 6% on incremental sales achieved in 2019-20, that would act as the base year. While the majority of funds would be disbursed towards manufacturing of mobiles phones, it will also cover making of specific electronic components and also ATMP units (assembly, testing, marketing and packaging) which are seen as a precursor for setting up an eco-system for semiconductors. The components covered will include SMT (surface-mounted technology), devices for semiconductor, PCB (printed circuit boards), and sensors and micro/nano-electronic components.


The official note said that the package was necessary considering the imminent withdrawal of the Merchandise Exports from India Scheme (MEIS) and the limited relief provided under the proposed Remission of Duties or Taxes on Export Product (RoDTEP) scheme. “A high-level committee, chaired by CEO Niti Aayog and comprising of secretaries of Department of Economic Affairs,

Department of Commerce
, Department for

Promotion of Industry
and Internal Trade, and IT has recommended for focus on mobile manufacturing.”


The total incentive planned to be given in the first year is around Rs 4,030 crore, in second Rs 6,395 crore, in third Rs 8,760 crore, in fourth Rs 11,790 crore and in fifth Rs 10,820 crore. “With the demand for electronics hardware expected to rise rapidly to approximately $400 billion (approximately Rs 26 lakh crore) by 2025, India cannot afford to bear the rapidly increasing foreign exchange outgo on account of electronics imports,” the IT ministry said.

https://m.timesofindia.com/business...leshow/74449439.cms?__twitter_impression=true

 

[TejasMK3]

SC allows trade in cryptocurrency, quashes RBI curb

Thoughts?
I dont know much about cryptos tbh, but Isnt this kinda dangerous as no one knows who controls/regulates the currency, and it is used for a lot of contraband/shady things.

 

[Aaj ka hero]

SC allows trade in cryptocurrency, quashes RBI curb

Thoughts?
I dont know much about cryptos tbh, but Isnt this kinda dangerous as no one knows who controls/regulates the currency, and it is used for a lot of contraband/shady things.

Yes, another jihadis dream came true.
Motherfuckers, government must move quickly to stop this.
Of course that soros is behind this because I can't help but think he will get the most benefit.

 

[nongaddarliberal]

SC allows trade in cryptocurrency, quashes RBI curb

Thoughts?
I dont know much about cryptos tbh, but Isnt this kinda dangerous as no one knows who controls/regulates the currency, and it is used for a lot of contraband/shady things.

Itll give a boost to liquidity, though not too many people will use it. Indians will mostly use it as a stock option, rather than as an actual currency, so its an additional investment. Theres enough cash in the system now, that you dont need crypto for illegal transactions. Just contact your nearest gold dealer or local muzzie. The hawala network and anonymous chit scheme are anyway there for such things.

 

[Suryavanshi]

SC quashes RBI curb

RBI should say fuck off to SC sighting Security concern.
Days aren't far away when SC can remove our claim from Siachen.

The ******s sitting in SC must realise this that their bravado won't be entertained in face of National secuirty.

 

[south block]

Crypto will be new hawala on unprecedented scale.

 

[DG7867]

At 57.5, India's services PMI grows at a pace not seen in seven-years

https://www.business-standard.com/a...dlo78ewe1UEPJbw76-vX9aM#.Xl9ez5HRR4c.facebook

huehuehue...

 

[Syd]

Every inch of Chinese land is belong to China , but people have right to use it.

China do have a land revolution , Give the landlord's land to everyone

Moreover, China now has almost no land without owner.

Every piece of land has users. You are asking me to rob others

In China all the land belongs to the state (ie. CCP). The CCP big shots cream off the money made by the proles and invests it in land and property abroad. My friends daughter is married to an Australian farmer. He has been trying to expand his farm by buying any adjacent land that comes up for sale but every time it happens, he is outbid by Chinese bidders. This is in rural NSW far from major cities.

 

[f3243007008]

In China all the land belongs to the state (ie. CCP). The CCP big shots cream off the money made by the proles and invests it in land and property abroad. My friends daughter is married to an Australian farmer. He has been trying to expand his farm by buying any adjacent land that comes up for sale but every time it happens, he is outbid by Chinese bidders. This is in rural NSW far from major cities.

Some corrupt officials do abscond abroad, but will be arrested from abroad if evidence is found

And also many don't have evidence.

outbid by Chinese bidders is because Chinese is richer.

https://www.youtube.com/results?search_query=Red+wanted+Chinese

 

[jackprince]

So Yes Bank is soon to be No Bank. Doesn't look good on Modi when the play was made foul by stupid NPA rules set by RBI.

https://www.google.com/amp/s/m.econ...bank-at-rs-50000/amp_articleshow/74498382.cms

 

[Spindrift]

Looks like Payal Rohatgi's father's money is stuck in Yes Bank.......

 

[Haldiram]

Even and odd days bois...even and odd days..

 

[Haldiram]

And how can we be far behind..

 

[Haldiram]

The bank has in news from last 2 years for bad reasons.So,WTF she doing.

Not good to blame the victim always. There's hardly any Indian bank which doesn't have double digit NPAs. The system also ought to be answerable to us. We put out money in banks because the regulator assures us that their watchdog is taking care of our interests. Here the watchdog itself was sleeping, neither CARE ratings nor CRISIL was able to predict the IIFL, DHFL, Yes Bank collapse. And our gormint agencies use these rating servies to ascertain the creditworthiness and liquidity of banks.

Iss sabh me public ki kya galti hai? I can understand if someone invested in some random Chit Fund and lost money, but these are formal banks under the auspices of the RBI. Punjab Maharashtra Bank was a multi-state bank. Lakhs of crores ka nuksaan ho gaya, regulator kidhar hai? aur humne tax bharte wakt 1 rupee kam hua toh humko immediately notice bhejte hai.

IIFL se bond market crash hua, fir stock market crash hua, fir real estate market crash hua, that is understandable because assets keep fluctuating, and people who invest here know the risks, but ordinary people who keep money in banks thinking it is safe, unko kya safety net hai? agar bank me bhi paisa safe nahi toh saara paisa real estate me laga do. At least one gets a roof over their head. Bank me paisa rakhne ka kya matlab hai.

This is the condition of our banks :

Jaise GDP badhna chahiea waise NPA badh raha hai

 

[Peter]

Looks like Payal Rohatgi's father's money is stuck in Yes Bank.......

Lol and I was the one who was telling @Violent peaceful about such fickle supporters. Times of desperation bring out the true nature of people.

As for Yes Bank, it is a case of how unscruplous small banks like Bandhan Bank,Yes Bank etc go on a spree of lending to dubious debtors and end up accruing more debt they can ever chew. They offer high fd rates and low borrowing rates hoping to gain a strong market hold. Sadly many Indians are way too conservative to go to these smaller banks for loans and instead favour the indolent Govt PSBs which seem safer to them. Thus they can neither achieve the market stranglehold they greatly desire and instead end up in a situation where their liability vastly outweighs their assets. The smaller pvt banks then have a perilous situation where they neither have the promised returns to their shareholders nor the capacity to redeem the FDs of their customers in case of a run on the bank scenario. This is when the RBI has to step in and produce magical currency out of thin air to help stricken banks and assuage the banks customers or they may end up rioting. This happens for PSBs too and that is why we have such a high inflation rate.

As wiki states economics of the modern era is probably the greatest Ponzi/pyramid scheme out there. One fool tries to fool another idiot who repeats the cycle ad infinitum.

 

[Peter]

Not good to blame the victim always. There's hardly any Indian bank which doesn't have double digit NPAs. The system also ought to be answerable to us. We put out money in banks because the regulator assures us that their watchdog is taking care of our interests. Here the watchdog itself was sleeping, neither CARE ratings nor CRISIL was able to predict the IIFL, DHFL, Yes Bank collapse. And our gormint agencies use these rating servies to ascertain the creditworthiness and liquidity of banks.

Iss sabh me public ki kya galti hai? I can understand if someone invested in some random Chit Fund and lost money, but these are formal banks under the auspices of the RBI. Punjab Maharashtra Bank was a multi-state bank. Lakhs of crores ka nuksaan ho gaya, regulator kidhar hai? aur humne tax bharte wakt 1 rupee kam hua toh humko immediately notice bhejte hai.

IIFL se bond market crash hua, fir stock market crash hua, fir real estate market crash hua, that is understandable because assets keep fluctuating, and people who invest here know the risks, but ordinary people who keep money in banks thinking it is safe, unko kya safety net hai? agar bank me bhi paisa safe nahi toh saara paisa real estate me laga do. At least one gets a roof over their head. Bank me paisa rakhne ka kya matlab hai.

This is the condition of our banks :

Jaise GDP badhna chahiea waise NPA badh raha hai

Bank me paisa rakhna kabhi vi safe nahi hai. Agar paisa rakthe bhi hoh toh India ka inflation rate itna hain ki fakir ban jaoge even during normal economic conditions. Infact is economy me stocks/bonds kucg vi safe nahi hain.

NPAs are inevitable in times of a gloom and doom economy. That is how capitalism will always work where hope turns to a rise in the market which then turns to further rise fuelled by greed and pure speculation and then a great fall.

As our old dadu didas and @pmaitra sir said Gold and Land are the only true things having Tangible value. Baki saab are fake valued things shoved down our throats by greedy globalists.

 

[ForigenSanghi]

Nifty Gains of last one year completely wiped out in the last 15 days.

Its a bloodbath in my Indian portfolio. Down almost 15% in last 15 days.

On the other hand. My 11600 puts.

I had got 11600 puts on the same day (trying not to be too greedy) but as it turns out 11000 put would have been a lot better value.

Purchase price a shade under 90 on 18th-Feb, these would probably touch 900 by 10th-Mar.
Not going to be stupid greedy, so will square off these bad boys today to avoid the series becoming illiquid (maybe will keep 5-10 lots to see if they actually touch 900 before expiry).

Thinking of picking up 100-200 lots of 30-Apr-20 10000 puts @ 150ish now.

But having serious moral qualms about profiting from the spread of disease in my own country / city.
Life was much simpler when I was an atheistic liberal till about 5 years back.

 

[Peter]

Nifty Gains of last one year completely wiped out in the last 15 days.

View attachment 44043

Its a bloodbath in my Indian portfolio. Down almost 15% in last 15 days.

On the other hand. My 11600 puts.



View attachment 44044

Purchase price a shade under 90 on 18th-Feb, these would probably touch 900 by 10th-Mar.
Not going to be stupid greedy, so will square off these bad boys today to avoid the series becoming illiquid (maybe will keep 5-10 lots to see if they actually touch 900 before expiry).

Thinking of picking up 100-200 lots of 30-Apr-20 10000 puts @ 150ish now.

But having serious moral qualms about profiting from the spread of disease in my own country / city.
Life was much simpler when I was an atheistic liberal till about 5 years back.

It seems like everyone is benefitting from the coronavirus. In US televangelists are making a fortune by selling their doomsday predictions made by their dead Jew supporters that the Rapture is going to come and people should stock up food. Alex Jones is trying his usual batshit conspiracy theories of FEMA camps being used to take away coronovirus patients and he gives a rat's ass about the moral scruples involved.




P.S. This makes me seriously think corona virus may actually have been a bio weapon to bring the economy down and help Chinese and US investors to make some quick money while the general populace bears the brunt of the outbreak.