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Submitted by
Navdeep Kaur
 Employees in the organized sector could get free
insurance cover of up Rs 6.5 lakh from next financial
year under a scheme run by the government’s
retirement fund manager.
 The FPFO will consider raising the cover under its
deposit-linked insurance scheme to 100 times the basic
salary in a next year.
 Currently offering free life insurance of 20 times an
employee’s basic pay with a ceiling of Rs 6500.
 The central bank hiked both repo and reverse repo rates
by 25 basis points .
 Its seventh rate hike since Oct ,09
 Repo and reverse repo rates represent the cost of
borrowing from and parking surplus funds with RBI .
 Deposits will fetch slightly higher return and loans,
including high-value mortgage will become a bit more
expensive.
 Banks lend just Rs 7,133 crore during the fortnight
ended Oct 22 against Rs 46,000 crore the previous
fortnight.
 The RBI has projected a 20% growth in credit for this
fiscal year.
 Statistical shows credit growth as on October 22 stood
at 7.2%.
 Deposits rose 17.3% on a year on year basis to Rs
4875254 crore as on Oct 22 up by Rs 86,945 crore over
previous fortnight.
 Coal turned into gold for 15.2 lakh investors .CIL
soared 40% to Rs 342.35 creating many records-the
biggest IPO, biggest coal producer in the world and top
trading on the day of debut.
 With the gains, coal India limited become the fourth
most valuable company on the Indian stock exchange
with a market value of Rs 2,16,241crore, behind
Reliance industries , ONCG and SBI.
 BNP Paribas assets rose 34% in the 3 years through
June ,reaching $ 3.2 trillion equal to the size of Bank of
America , the largest US bank .
 The Paris based company may also have one of the
lowest capital ratios among European banks under
Basel rules.
THANK YOU

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News updates ending 6 nov

  • 2.  Employees in the organized sector could get free insurance cover of up Rs 6.5 lakh from next financial year under a scheme run by the government’s retirement fund manager.  The FPFO will consider raising the cover under its deposit-linked insurance scheme to 100 times the basic salary in a next year.  Currently offering free life insurance of 20 times an employee’s basic pay with a ceiling of Rs 6500.
  • 3.  The central bank hiked both repo and reverse repo rates by 25 basis points .  Its seventh rate hike since Oct ,09  Repo and reverse repo rates represent the cost of borrowing from and parking surplus funds with RBI .  Deposits will fetch slightly higher return and loans, including high-value mortgage will become a bit more expensive.
  • 4.  Banks lend just Rs 7,133 crore during the fortnight ended Oct 22 against Rs 46,000 crore the previous fortnight.  The RBI has projected a 20% growth in credit for this fiscal year.  Statistical shows credit growth as on October 22 stood at 7.2%.  Deposits rose 17.3% on a year on year basis to Rs 4875254 crore as on Oct 22 up by Rs 86,945 crore over previous fortnight.
  • 5.  Coal turned into gold for 15.2 lakh investors .CIL soared 40% to Rs 342.35 creating many records-the biggest IPO, biggest coal producer in the world and top trading on the day of debut.  With the gains, coal India limited become the fourth most valuable company on the Indian stock exchange with a market value of Rs 2,16,241crore, behind Reliance industries , ONCG and SBI.
  • 6.  BNP Paribas assets rose 34% in the 3 years through June ,reaching $ 3.2 trillion equal to the size of Bank of America , the largest US bank .  The Paris based company may also have one of the lowest capital ratios among European banks under Basel rules.