The document discusses technical trends in the Nifty 50 and Bank Nifty stock indices. It provides daily, weekly, and monthly resistance and support levels for both indices. It also analyzes pattern formations using indicators like Bollinger Bands and Parabolic SAR. Top gainers and losers for the week are listed, along with recommendations to buy or sell specific stocks and futures in the coming week based on technical analysis. Key news items regarding the Indian economy such as FDI inflows, credit quality of corporations, developing the corporate bond market, and the government maintaining spending targets are also summarized.

2. TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )
NIFTY FIFTY : - The Equity benchmark Nifty 50 opened in a positive note on Monday
up by 38 points or 0.43 per cent at 8735. The benchmark Index Nifty did not show any
clear movement last week after testing 8800 levels, it corrected by 100 points on low
volumes to close at 8715. This week being a truncated week with two successive holidays
we have seen seen some negative movement. Nifty Closed Almost Flat in A Holiday
Thinned Trade Amid Lackluster Global Cues And Caution Before Q2 Earnings &
IIP/Inflation Data. The Market saw a significant decline in a Thursday trading session
after the US Federal Reserve minutes boosted the case for higher interest rates. Nifty
dropped to a day low of 8541 approximately so far from a previous closing of 8708. Nifty
may consolidate between 8840-8540 range and any breakout or breakdown with volumes
may result in a 300-450 point movement on either side. The Significance Resistance for
Nifty is 8630-8740 and Support is 8520-8416.
BANK NIFTY : - The Bank Nifty opened in a Positive Note on Monday up by 89 points
or 0.45 per cent at 19489. On Monday Banking shares saw small profit booking after a
rate cut and some under performance was witnessed despite holding on to the support of
19500. The Bank Nifty was showing Considerable weakness and had closed at 19379 on
Monday, which is 300 points near range low of 19079. Banks may report some
improvements in fresh NPA/NPL creation on a sequential basis rather than mere
recognition, effective resolution may be more important as of now and transfer of Net
Performing Assets to some other Assets Reconstruction Company may ease the burden
on the banks temporarily, but it will not solve the basic problem of low capacity
utilization & tepid demand. Bank Nifty immediate support is around 19106-19026* area
and below that expect 18761-18519* area.On the upside, for any strength, Bank Nifty
need to sustain above 19600-19700* zone for further rally up to 19900-20000 area. The
Crucial Levels for Nifty is 19112-19348 Upside and 18880-18640 is down side.
Monday, 17 October 2016

3. TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY
DAILY R2 R1 PP S1 S2
8740 8632 8578 8524 8416
WEEKLY R2 R1 PP S1 S2
9232 8826 8623 8420 8014
MONTHLY R2 R1 PP S1 S2
9436 8908 8644 8380 7852
BANK NIFTY
DAILY R2 R1 PP S1 S2
19348 19112 18994 18876 18640
WEEKLY R2 R1 PP S1 S2
21091 19771 19111 18451 17131
MONTHLY R2 R1 PP S1 S2
22172 20206 19223 18240 16274
MOVING AVERAGE 21 DAYS 50 DAYS 100 DAYS 200 DAYS
NIFTY 8714 8706 8485 8031
BANK NIFTY 19626 19436 18680 17193
PARABOLIC SAR DAILY WEEKLY MONTHLY
NIFTY 8960 433 6907
BANK NIFTY 20613 15419 13769

4. PATTERN FORMATION ( NIFTY )
Detail of Chart - On the above given daily Chart of NIFTY has Applied Bollinger Band
along with Parabolic SAR both the indicators are Leading, and gives signal of Buying or
Selling. Although the Uses of Bollinger Band differ from traders to traders Some
buywhen it break the Middle Band from below side and some buy when it break Upper
Band. We assume that the Breaking the Middle Band Usually a Bull side Signal as we
can see that. Although On the Above given Chart of Nifty both the Indicators are
indicating Bull Movement for next week. Now the market has Shifted in a Cautious
mode. However the Nifty Trend Now Seems clear toward the Next level of 8780-8800
both the Indicators are Indicating break above 860 would be the Important level for the
Nifty.

5. PATTERN FORMATION ( BANK NIFTY )
Detail of Chart - On the Above given Chart of Bank Nifty daily Chart has Applied the
Bollinger Band along With Parabolic SAR , Both are the Indicators are Showing the rally
may Continue toward the 19900-20200 level for Bank Nifty in Near-Term. The Bank
Nifty has 20570 around in last trading Week if it is able to Sustain the Level of 19750
will move toward the 20200 in two-three trading Sessions. The Important levels for Bank
Nifty is 19560-19380 is Down side While 19980-20200 is Up side.

6. NSE EQUITY DAILY LEVELS
COMPANY
NAME
R2 R1 PP S1 S2
ACC EQ 1660 1649 1639 1628 1618
ALBK EQ 76 75 74 73 72
AMBUJACEM EQ 256 254 253 251 250
ASIAN PAINT EQ 1228 1218 1211 1201 1194
AXISBANK EQ 529 524 520 515 511
BAJAJ-AUTO EQ 2870 2838 2817 2785 2764
BANKBARODA EQ 157 155 154 152 151
BANKINDIA EQ 113 112 111 110 109
BHEL EQ 133 133 132 132 131
BHARTIARTL EQ 310 307 305 302 300
CIPLA EQ 594 590 587 583 580
COALINDIA EQ 320 317 315 312 310
DLF EQ 154 152 149 147 144
DRREDDY EQ 3079 3055 3038 3014 2997
GAIL EQ 444 437 425 418 406
GRASIM EQ 1010 1002 993 985 976
HCLTECH EQ 834 823 811 800 788
HDFC EQ 1353 1335 1323 1305 1293
HDFCBANK EQ 1275 1268 1261 1254 1247
HEROMOTOCO EQ 3532 3504 3489 3461 3446
HINDALCO EQ 157 156 154 153 151
HINDUNILVR EQ 863 854 845 836 827
ICICIBANK EQ 245 244 241 240 237
ITC EQ 241 241 239 239 237
INDUSIND BANK EQ 1239 1228 1217 1206 1195
INFY EQ 1120 1073 1034 987 948
JINDALSTEL EQ 79 78 77 76 75
KOTAKBANK EQ 791 786 778 773 765
LT EQ 1502 1488 1463 1449 1424
M&M EQ 1387 1373 1363 1349 1339
MRF EQ 54018 53138 52669 51789 51320
MARUTI EQ 5805 5748 5708 5651 5611
ONGC EQ 283 280 275 272 267
ORIENTBANK EQ 126 125 123 122 120
RCOM EQ 49 48 47 46 45
RELCAPITAL EQ 565 560 554 549 543
RELIANCE EQ 1095 1086 1074 1065 1053
RELINFRA EQ 578 575 569 566 560
RPOWER EQ 48 47 47 46 46
SBIN EQ 255 254 251 250 247
SSLT( VEDL) EQ 200 197 195 192 190
SUNPHARMA EQ 753 748 743 738 733
TATAMOTORS EQ 559 556 553 550 547
TATAPOWER EQ 79 79 78 77 77
TATASTEEL EQ 415 413 410 408 405
UNIONBANK EQ 143 142 142 141 141

7. TOP 15 ACHIEVERS // TOP 15 LOOSERS
NEXT WEEK STARS( AS PER TECHNICAL ANALYSIS )
NSE FUTURE
NSE FUTURE : SELL TATASTEEL FUTURE BELOW 409 TGT 392 SL411
NSE FUTURE : BUY ULTRACEMCO FUTURE ABOVE 4040 TGT 4100 SL 4020
NSE FUTURE : SELL APOLLOTYRE TYRE BELOW FUTURE BELOW 215 TGT
209 SL 216.50
NSE CASH
NSE CASH : BUY CROMPTON NSE CASH ABOVE 182 TGT 194 SL 178.
NSE CASH : BUY UJJIVAN NSE CASH ABOVE 460 TGT 490 SL 448.
NSE CASH : BUY KAJARIACER NSE CASH ABOVE 720 TGT 775 SL 702.
SR.NO SCRIPT NAME PREV CLOSE CMP % CHANGE
1 ZEE LIMITED 572 528 -7.64 %
2 IDEA CELLULAR 80 74 -6.63 %
3 HDFC 1403 1316 -6.24 %
4 BANK BARODA 163 153 -6.04 %
5 ADANI PORTS 266 254 -4.68 %
6 BHARTI AIRTEL 319 305 -4.40 %
7 HUL 877 842 -3.99 %
8 AURO PHARMA 855 823 -3.77 %
9 ICICI BANK 250 241 -3.53 %
10 BAJAJ AUTO LTD. 2883 2793 -2.95 %
11 GRASIM INDUS 1024 995 -2.91 %
12 TATA POWER 80 78 -2.85 %
13 RELIANCE INDUS 1109 1077 -2.83 %
14 SBIN 258 252 -2.55 %
15 AXIS BANK LTD. 533 520 -2.47 %
SR.NO SCRIPT NAME PREV
CLOSE
CMP % CHANGE
1 RAMCO INDUS 179 217
+ 21.03 %
2
ABAN OFFSHORE 223 261 +16.86 %
3 NIIT TECHNO 408 440
+7.85 %
4
PETRONET LNG 373 400 +7.38 %
5 RAMCO CEMENT 618 660
+6.75 %
6
MINDA INDUS 324 345 +6.42 %
7 TRIDENT LTD. 54 57
+6.20 %
8
JINDAL STEEL 74 79 +6.04 %
9 L&T FINANCE 93 99
+5.69 %
10
GODFREYPHILIPS 1339 1406 +5.06 %
11 D B CORP 381 398
+4.54 %
12
CYIENT LTD. 482 502 +4.11 %
13 BEML LIMITED 908 945
+4.10 %
14
GAIL LIMITED 414 430 +3.95 %
15 ONGC 267 277
+3.63 %

8. NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
Indian growth makes it natural recipient of higher FDI: Arun Jaitley - India, since it
is growing much faster as compared to the rest of the world, has become natural recipient
of a higher level of foreign direct investment , Finance Minister Arun Jaitley has said.
"India has become far more aspirational than ever before. So compared to the rest of the
world, we are doing much better," Jaitley, who is here attending the annual fall meeting
of the International Monetary Fund and the World Bank, told reporters on Sunday. "Since
India is growing much faster, as compared to the rest of the world, it has become the
natural recipient of a higher level of FDI," he said. "For the rest of the world, whereas we
aspire to do better in this adverse environment, they consider it extremely impressive. So
there is a lot of global buzz around India," he added. The Finance Minister, however "put
a caveat", saying by India's own yardstick, its current growth rate is not enough. "We can
do still better, which in a sense, is not a bad thing to happen. To be restless, to be
impatient is a sign of wanting to do better," he said. "I think with the kind of investments,
both domestic and international, that we are getting, a reasonable amount of growth will
always be there. If growth returns to the world, then you would probably move up.
Structural reforms like Goods and Services Tax can only add to that," he added.
Credit quality improvement still not on horizon: ICRA - Credit quality of corporates
continued to remain weak in the first half of the current financial year with the domestic
rating agency ICRA upgrading just 287 firms against downgrades of 314 companies out
of the around 7,000 entities with loans. This makes the ratio of upgrades to downgrades,
or the credit ratio, at a weak 0.9, a against 1.94 a year ago, or 460 upgrades against 237
downgrades, suggesting improvement in credit quality is still some time away. Over the
past few quarters, the number of downgrades shot up following a rise in stress in sectors
like metals, engineering, gems and jewellery and textiles, ICRA said in a note today,
adding the volume of rating upgrades has been declining. ICRA's head of credit policy
Jitin Makkar said, " the reduction in instances of upgrades, a trend that started in the
second half of FY15, continued in the first half of FY 17 as power, real estate and
construction, metals and engineering sectors stressed. He noted strengthening in credit
quality of sectors like pharma and IT is not imminent in backdrop of increasing
regulatory intervention and slowing client spending overseas. further upside risks to
downgrades are limited the agency said.
Government wants PSBs’ midsize corporate borrowers shifted to bond market - The
government wants state-run banks to nudge their midsized corporate borrowers to seek

9. credit through alternative sources, help develop bond market and create space for banks
to lend to small and medium enterprises. Simultaneously, the government is working with
IIFCL and Life Insurance Corporation to make credit enhancement facilities available to
such borrowers, which will allow them to easily access the bond market. “This will also
help banks diversify their risk. We expect some of the larger banks will take lead in
educating borrowers and also provide support, wherever necessary,” said a senior
government official, who did not wish to be identified. Banks will also be asked to
explore takeout financing schemes for exposure to infrastructure sector, the official said.
Some of these issues were discussed in the performance review of state-run banks held
last month. Reserve Bank of India deputy governor R Gandhi had, last month, expressed
concern that the corporate bond market is accessible largely to top-rated borrowers.
“Efforts in this respect should be focused on facilitating access of low credit borrowers to
this market,” Gandhi had said. As per RBI data, more than 85% of corporate bond
issuance in India is by borrowers with rating of ‘A’ and above. “We want banks to free up
their capital and drive investment. If the borrowers are regulated through markets it will
also instil more discipline in them,” said the government official cited earlier. Discussions
are on with all regulators to further develop the bond market, the official said.
No Fiscal worries, Government spending won’t falter: Arun Jaitley - The finance
ministry wants ministries to maintain spending in line with budget allocations, dismissing
fiscal concerns that have arisen halfway through the year after the recent spectrum
auction fell short of target and the August deficit number was the highest in seven years.
Any shortfalls will be made up by collections under the just-concluded black money
disclosure scheme besides which stakes held in companies through the Specified
Undertaking of the Unit Trust of India will provide an added cushion without the
government having to scale back spending to meet the fiscal deficit target of 3.5 per cent
of GDP for the fiscal year, a senior finance ministry official said. “We want ministries to
spend what has been allocated to them,” the official said. “We are on track on the fisc.”
At the end of August, the fiscal deficit was at 76.4 per cent of what’s been budgeted for
the year, the highest since FY 09 for the month, sparking concerns that Finance Minister
Arun Jaitley may struggle to meet the target. The government will get Rs 32,000 crore
from spectrum auction this year against an anticipated Rs 64,000 crore while the seventh
pay commission award is expected to cost more than what has been set aside.
GST lends more weight to India's 8% growth projection: S&P - : Calling Goods and
Services Tax as the most important structural reform till date by the Modi government,
S&P Global Ratings today said the passage of the indirect tax law gives it additional
conviction of India clocking 8 per cent growth in the next few years. "India's GST

10. passage gives us additional conviction around our 8%-ish GDP growth forecast over the
next few years," it said in a report titled 'Asia-Pacific steadies while China goes silent'.
The rating agency had last month projected India to clock a "steroid-free" growth of 8 per
cent in coming years. "The GST passage is arguably the most important structural reform
to date by the Modi government and will improve efficiency, cross-state trade and tax
buoyancy," it said today. It saw a reasonably firm pick-up in Asia-Pacific's macro
momentum indicators, with pick-up in retail sales offering the clearest sign in most of the
region's economies.with pick-up in retail sales offering the clearest sign in most of the
region's economies. This, it said, stems from rising income, which in turn is part of the
region's evolving growth dynamics, with consumption playing a larger role.
Growth remains subdued and outlook is clouded from economic and political
sources: Arun Jaitley - The recovery from the global financial crisis has not been as
healthy as we would have liked. Growth remains subdued and the outlook is clouded by
uncertainties emanating from both economic and political sources. Against this backdrop,
we also broadly agree with the way forward proposed in the Managing Director’s Global
Policy Agenda. We particularly welcome the focus on measures to make growth more
broad based. We support the proposals for identifying policy space. We believe that the
IMF represents an unparalleled pool of economic knowledge and experience and has a
very important role to play in advising its membership on the way forward. This is
particularly true of those members whose capacities of economic policy formulation and
implementation are less developed. However, the IMF also needs to continue working on
removing perceptions of lack of evenhandedness. The Fund’s smaller members should be
confident that they are considered as important as the larger ones, and Fund conditionality
in programs is not unnecessarily burdensome for them.
Chairman, monetary policies in advanced economies have stayed accommodative for an
unprecedentedly longtime. In today’s interconnected world, these policies inevitably
produce spillovers to EMDEs. We have consistently maintained that monetary policies in
advanced economies should be mindful of the risks caused to EMDEs. We would expect
that while the IMF analyzes the implications of low and negative interest rates, it should
also analyze the implications of these rates for EMDEs. We look forward to the IMF’s
work to better understand the drivers of the slowdown in productivity growth. We
understand the Fund’s advice to commodity exporters for adjustment and diversification.
However, for a country to diversify its economy over the course of a few years is not an
easy task, particularly at a time when global demand is subdued. Therefore, we would
like the Fund to be more concrete in its advice for diversification, with a set of focused
recommendations for action, which are consistent with a country’s resources and

11. capabilities. Chairman, with inward looking policies finding support of a significant part
of the population in some countries, the Fund’s call for and focus on international
cooperation are timely. As the Global Policy Agenda mentions, such cooperation should
cover diverse areas like trade integration, financial regulatory reform and managing
spillovers. Recently, the Fund’s work plan has expanded to cover areas where the Fund
does not have as much expertise as it has in macroeconomic policies. These include
policies to deal with the impact of climate change, foster financial inclusion, tackle
growing inequality and so on. The Fund would do well to collaborate with the relevant
international organizations as it takes on these work-streams, while also making efforts to
enhance its in-house capabilities through training and recruitment Finally, Chairman, let
me say that we are somewhat disappointed that the deadline for completing the 15th
Review will be pushed back to the 2019 Spring Meetings. Given that there is broad
agreement on maintaining the current overall lending capacity of the Fund and that the
Fund’s resource pool is excessively tilted toward borrowed resources, there is a dire need
for increasing quotas. Recent work by the Fund also points to the need for realigning
quota shares to reflect the changed economic realities. All this can be achieved as part of
the 15th Review. Delays in General Reviews of Quotas erode the Fund’s legitimacy and
credibility, and are against the provisions of the Articles of Agreement. I do hope that the
deadlines that will now be set for completing the 15th Review, including agreement on a
new quota formula as the basis for realignment of quota shares, will be honored and
adhered to in letter and spirit. It is also important that the new quota formula should give
more weight to PPP GDP to better reflect the true economic strength of EMDEs.”
Industrial output contracts 0.7 year-on-year in August - India’s industrial prodution
fell 0.7% in August, slighlty slower than 2.5% decline in July. Data released by the
statistics office showed a 0.3% fall in manufacturing production in August and a sharp
5.6% decline in mining output compared with a 0.8% growth in July. Manufacturing as a
sector has the highest weight in the Index of Industrial Production. The pace of electricity
generation marginally improved 0.1% compared with moderation in the previous month.
July IIP reading was revised to a 2.5% contraction, compared with the 2.4% decline
reported earlier. Capital goods output nosedived 22.2% July. It has been falling for the
last few months. The decreased pace of slowing industrial activity was evident in seven
out of the 22 industry groups in the manufacturing sector in August- a marked
improvement from July. Consumer goods production rose 1.1% in August with the output
of consumer non-durables — an indicator of rural demand – rising a mere 0.1% and that
of consumer durables a gauge of urban demand, rising 2.3%.

12. ✍ TOP ECONOMY NEWS
The government will have to raise Rs. 320 billion more to meet the fiscal deficit target of
3.5% of gross domestic product for 2016-17, as it will get just half of the Rs. 640 billion
it had budgeted for 2016-17 from spectrum sale.
Moving fast on its ambitious waterways project, the government has said it will augment
the process of development for 36 waterways in the first phase and soon float tenders to
invite bids for the project.
The mines auction, which kicked off earlier this year, is now pulling investors in hordes
as 10 companies snapped up 16 mines, translating into a revenue of close to Rs. 595
billion for states.
The Finance Ministry is likely to finalise contours of listing of public sector general
insurance companies in a couple of months.
Singapore is seeking more time to revise the two-decade-old tax treaty with India, saying
its investors need more time to shift to source-based taxation.
India's merger and acquisition activity has reached its highest on record, up 36.2% by
value at USD 46 billion across 278 deals as compared to the whole of 2015, which saw
USD 33.8 billion across 419 deals.
The finance ministry said it will take away from the Reserve Bank of India the powers to
manage public debt or government borrowings in about 2 years and has set up a cell for
an interim period to smoothen the transition so that markets do not witness disruptions.
UTI Mutual Fund has got the mandate to manage 25% of the incremental flows into
Employees' Provident Fund Organisation that will be invested in the stock market through
the exchange-traded fund route.
Telecom spectrum auction ended with bids worth Rs. 657.89 billion over the last five
days, a mere 40% of the total worth of spectrum that was placed on the block.
Over 90% of foreign direct investment in the country is coming through automatic route
and the commerce ministry is further relaxing the FDI regime.

13. Industrial production contracted for the second straight month by 0.7% in August. The
pace of fall decelerated as the decline was an eight month low of 2.5% in July.
Investments into domestic capital markets through participatory notes rose to the highest
level in five months at Rs 2.16 trillion in August.
Stressed loans in India's banking sector crossed USD 138 billion in June, an increase of
nearly 15% in just six months that suggests a state clean-up effort will take longer and
cost more than expected.
India's gold imports declined by 58.96% to 270 t from January to September from 658 t
that were shipped in during the corresponding period of last year.
The year 2016 is set to be a record-breaking year for Indian IPO market as 50 firms have
entered Dalal Street with initial share-sale offers to garner USD 2.93 billion and an
impressive pipeline is already in place for the coming months.
The government will have to raise Rs. 320 billion more to meet the fiscal deficit target of
3.5% of gross domestic product for 2016-17, as it will get just half of the Rs. 640 billion
it had budgeted for 2016-17 from spectrum sale.
The Finance Ministry is likely to finalise contours of listing of public sector general
insurance companies in a couple of months.
Moving fast on its ambitious waterways project, the government has said it will augment
the process of development for 36 waterways in the first phase and soon float tenders to
invite bids for the project.
The mines auction, which kicked off earlier this year, is now pulling investors in hordes
as 10 companies snapped up 16 mines, translating into a revenue of close to Rs. 595
billion for states.
Singapore is seeking more time to revise the two-decade-old tax treaty with India, saying
its investors need more time to shift to source-based taxation.

14. ✍ TOP CORPORATE NEWS -
ONGC Limited has signed a preliminary pact to acquire a stake and operate the KG
Basin block of Gujarat State Petroleum Corp. , which had announced a major natural gas
discovery and spent USD 3 billion to develop it.
Idea Cellular Limited acquisition of airwaves in this year’s auction will result in a Rs.
10 billion increase in planned capital expenditure for the year.
The government, looking to get IDBI Bank Limited stalled disinvestment plan moving
again, has instructed the lender’s management to bring its stake down to 52%.
Adani Transmission Limited has completed the acquisition of the GMR Energy
transmission assets, which it bought in July this year.
Reliance Defence and Engineering Limited, a subsidiary of Reliance Infrastructure
Limited, has signed a memorandum of understanding with ALLRIG USA for services in
the oil and gas sector in India and the south-east region.
Mahindra & Mahindra Limited became the first Indian company to announce its
internal carbon Price of USD 10/t of carbon emitted.
Standard Chartered Private Equity has increased its stake in Redington India by
acquiring 3.48% shares in the company, taking up the total shareholding to 15.41%,
worth over Rs. 1.50 billion.
Reliance Communications Limited said Bombay High Court has approved its deal to
acquire Russian conglomerate Sistema's Indian telecom unit, Sistema Shyam Teleservices
Limited, that operates under the MTS brand.
The government is likely to launch disinvestment in NMDC Limited, NALCO and
MOIL Limited in the January-March quarter of the current fiscal, which could fetch
about Rs. 60 billion to the exchequer.
Oil India Limited has received environment clearance for Rs. 2.20 billion development
drilling project in Jaisalmer district of Rajasthan.

15. Ajanta Pharma Limited said its new formulations facility at Guwahati will be
commercialised before March 2017.
Jubilant Life Sciences Limited has received the final approval from the US health
regulator for Darifenacin Extended-Release Tablets, used for the treatment of urinary
incontinence.
Granules India Limited has received approval from the US health regulator for anti-
inflammatory drug Ibuprofen tablets, in the US market.
Bharti Airtel Limited has relaunched its MyAirtel app with new ‘Airtel Apps’ section
that will have a collection of top apps under a single interface, in addition to the existing
selfcare features.
Dr. Reddy's Laboratories Limited has launched Aripiprazole tablets in 2mg, 5mg,
10mg, and 30mg, a therapeutic equivalent generic version of Ablify tablets in the US
market following the approval from the US Food and Drug Administration.
Coal India Limited has tied up with Andhra Pradesh Generation Company for
substituting imported fuel, used for blending purposes, by high quality Ranigunj coal.
The initiative is part of the CIL’s effort to market Ranigunj coal that has few takers.
As it looks to take on Reliance Jio heads on in providing high-speed broadband internet
services, Bharti Airtel Limited has deployed a technology that will deliver speeds of up
to 100 Mbps on its fixed broadband footprint in 87 cities.
Reliance Broadcast Network is in advanced talks with the Zee Entertainment
Enterprises Limited. The deal is expected to be in the range of Rs. 18-20 billion.
✍ TOP BANKING AND FINANCIAL NEWS OF THE WEEK
Stung by high cost of funds when demand for loans is at the weakest in nearly a decade,
state-run banks, which used to rely on long-term fixed deposits, are increasingly not
accepting any fixed deposit beyond five years. This also reflects a dip in demand for
long-term loans for infrastructure projects like power plants or ports, which require
funding for anywhere between seven and twelve years, say bankers. Lenders like State
Bank of India, UCO Bank and Punjab National Bank are discouraging depositors from

16. locking up funds at a higher rate for longer periods. By not contracting long-term, high-
cost funds banks are also playing safe in a falling interest rate regime where customers
avoid borrowing for longer periods.
India’s largest private sector lender, ICICI Bank Limited had tied up with Emirates
NBD — a leading banking group in the Middle East — to execute transactions in
international trade finance and remittance using blockchain technology. ICICI Bank is the
first few banks globally to exchange and authenticate remittance transaction messages
electronically on blockchain in real time. The usage of blockchain technology simplifies
the process and makes it almost instant—to only a few minutes. “We have also marked a
milestone by piloting a blockchain network with Emirates NBD as a partner and have
successfully executed cross-border open account trade finance and remittance
transactions,” Chanda Kochhar, MD & CEO, ICICI Bank said. Kochhar added that the
emergence of blockchain will play a significant role in banking in the coming years by
making complex bilateral and multi-lateral banking transactions seamless, quick and
more secure
Public sector banks which made losses or experienced sharp dip profit in the last fiscal
could lose their ability to service coupon on additional tier 1 bonds issued under Basel III
capital regulations. rating company Crisil said in a report. A sharp dip in profitability and
mounting losses could wipe out the revenue reserves of some public sector banks, Crisil
said. As many as 13 of the 21 public sector lenders reported losses for fiscal 2016, and
almost half of them could do so again this fiscal, the rating company said. Crisil however
did not divulge the name of the banks which are in risk of defaulting AT1 bond coupon
payment. As on date, 14 banks have Rs 22,600 crore of additional tier 1 bonds
outstanding.
Small finance bank license holder Utkarsh Micro Finance has raised Rs. 395 crore by
selling fresh shares from a clutch of Indian investors which will help it comply with one
of Reserve Bank of India’s conditions to start banking operations. Varanasi based Utkarsh
has sold shares to eight Indian institutional investors which will reduce its foreign
shareholding to 48.5% from 85% helping to comply with RBI norms which stipulate that
foreign ownership in these new banks must be must be at 49% or below. In a press
release on Wednesday Utkarsh said HDFC Ergo General Insurance Co. Ltd, HDFC
Standard Life Insurance Co Ltd, ICICI Prudential Life Insurance Co Ltd, RBL Bank Ltd.,
Shriram Life Insurance Co. Ltd, Small Industries Development Bank of India and local
private equity funds such as Arpwood Investments and Faering Capital haver all bought
stakes in the company. It did not give details of their ownership.

17. To cash in on the 7th Pay Commission payout to government employees, state-owned
Punjab National Bank is offering them home and auto loans at attractive rates of 9.3-
9.8 per cent beginning this month. Besides, the bank said it will offer loans to these
segments without any processing or upfront fee and no documentation charges will be
levied on them. The rate of interest is with effect from October 1, 2016. The Delhi-based
state lender said the objective of the drive- christened as 'PNB Pride' -- is to "ensure
availability of housing and vehicle loan at attractive rates and ensure a house and a car for
all government employees". For housing loan, the floating interest rate has been fixed at
marginal cost of lending rate for one year at 9.3 per cent. For those availing the housing
loan on a fixed rate basis.
Stung by high cost of funds when demand for loans is at the weakest in nearly a decade,
state-run banks, which used to rely on long-term fixed deposits, are increasingly not
accepting any fixed deposit beyond five years. This also reflects a dip in demand for
long-term loans for infrastructure projects like power plants or ports, which require
funding for anywhere between seven and twelve years, say bankers. Lenders like State
Bank of India, UCO Bank and Punjab National Bank are discouraging depositors from
locking up funds at a higher rate for longer periods. By not contracting long-term, high-
cost funds banks are also playing safe in a falling interest rate regime where customers
avoid borrowing for longer periods.
Jammu and Kashmir Bank Limited is willing to offer Islamic banking to customers in
the state and would examine the proposal after taking the Reserve Bank on board, its
chairman Parvez Ahmad said today. "Well, we have not given a serious thought to it, but
there is a lot of demand for Islamic Banking in the state. Few clients who do not want to
have the interest on their saving bank accounts, we do not have the mechanism how to
take care of that particular component. But, we will examine the proposal and we have to
also take RBI on board," Ahmad told reporters here.
Country's largest lender State Bank of India today said it has consistently passed on
Reserve Bank of India rate cuts to borrowers and would further reduce the lending rate in
the near term, benefiting auto and home loan seekers. State Bank of India Chairperson
Arundhati Bhattacharya has said that out of the 1.75 per cent rate cut by the RBI since
January 2015, it has already passed on up to 0.95 per cent to the borrowers.

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