TOP NEWS OF THIS WEEKEND                    <br />(23rd Aug. to 27th Aug, 2010)<br />Presented By:-SupriyaNayyarMBA 2C<br />
  Soldier of Tribals Trumpets Vedanta Victory<br /><ul><li>The British Firm Cairn Energy has confirmed that it is going to...
Cairn India is the fourth biggest oil gas firm in India and it has a market capitalization of 14 billion dollars.
The Environment Ministry is rejecting its proposal to mine Bauxite in the Niyamgiri Hills of Orissa in Kalahandi.
The refinery has allegedly violated the Environment Protection Act by increasing its capacity to 6 million tonnes per year...
The refinery has also illegally diverted 26 hectares of forest land.</li></li></ul><li>Continued……..<br /><ul><li>The Unio...
The violations of various Legislations especially the Forest Conservation & Rights Act 1980, the Environment Protection Ac...
The Forest Clearance is being rejected, the Environment Clearance for this mine is inoperable.
The Ministry issued a Show-cause notice for cancellation of Environmental Clearance for the one lakhtonne capacity refiner...
The terms & Conditions & the appraisal process for the expansion project has been suspended by the ministry.
Thus, the decision to abandon the Project does not mean that the government is against development…..,Development means th...
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Weekend news

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Weekend news

  1. 1. TOP NEWS OF THIS WEEKEND <br />(23rd Aug. to 27th Aug, 2010)<br />Presented By:-SupriyaNayyarMBA 2C<br />
  2. 2. Soldier of Tribals Trumpets Vedanta Victory<br /><ul><li>The British Firm Cairn Energy has confirmed that it is going to sell 60% of its Indian operations to the Indian mining giant Vedanta Group for about $9.6 billion.
  3. 3. Cairn India is the fourth biggest oil gas firm in India and it has a market capitalization of 14 billion dollars.
  4. 4. The Environment Ministry is rejecting its proposal to mine Bauxite in the Niyamgiri Hills of Orissa in Kalahandi.
  5. 5. The refinery has allegedly violated the Environment Protection Act by increasing its capacity to 6 million tonnes per year (mtpa) from 1 mtpa without getting the requisite clearance.
  6. 6. The refinery has also illegally diverted 26 hectares of forest land.</li></li></ul><li>Continued……..<br /><ul><li>The Union Environment Ministry turned down the stage 2 Forest Clearance for the State-owned Orissa Mining Corporation (OMC) and Sterlite’s proposed Bauxite Mining Project on Niyamgiri Hills.
  7. 7. The violations of various Legislations especially the Forest Conservation & Rights Act 1980, the Environment Protection Act 1986 & the Scheduled Tribes & Traditional Forest Dwellers Act 2006 appear too egregious to be glossed over.
  8. 8. The Forest Clearance is being rejected, the Environment Clearance for this mine is inoperable.
  9. 9. The Ministry issued a Show-cause notice for cancellation of Environmental Clearance for the one lakhtonne capacity refinery of the Company at Lanjigarh.</li></li></ul><li>Continued………<br /><ul><li>The Saxena Committee found that Vedanta Alumina Resources has illegally enclosed 26.123 hectares of the refinery at Lanjigarh.
  10. 10. The terms & Conditions & the appraisal process for the expansion project has been suspended by the ministry.
  11. 11. Thus, the decision to abandon the Project does not mean that the government is against development…..,Development means that every citizen of India develops.
  12. 12. Hence, Union Environment Ministry rejected plans of India-focussed miner Vedanta Resources Plc to go ahead with Bauxite mining in the state.</li></li></ul><li> “Autonomy should not be Compromised”RBI raises issue in Context of Central Banks’ Responsibilities<br /><ul><li>Under the Practice followed till now, the Central Bank simply reported such decisions well after they were taken.
  13. 13. In a recent communication, RBI has informed the Ministry the structure of the Pay revision even before it has told the staff.
  14. 14. The Central Bank is yet to issue the circular on Pay revision nor has it entered into any agreement with the employees but the letter has gone to the Ministry.
  15. 15. The tone of the communication is such that the details of wage negotiations have been shared with the government for its “Information”.</li></li></ul><li>Continued……..<br /><ul><li>RBI Act in no way requires it to seek the government ‘s permission for pay hikes.
  16. 16. RBI should seek the government’s approval only on such matters where the legislation mandates that there should be government approval.
  17. 17. RBI said that the recent enactment of the Securities & Insurance Laws Bill-popularly known as the Ulip Bill- had raised concern over RBI’s autonomy & Independence.
  18. 18. In operationalising the arrangement under the Bill, the autonomy is important to be given to the regulators.</li></li></ul><li> Pension Plans score over MFs in Long Run<br />“SIP may be the right way to build a long –term Portfolio. But once you consider the fund management charges, pension plans will hands down.<br /><ul><li>The whole Idea behind Unit linked Pension Plan is retirement Planning. Under the Plan, the investor sets aside a portion of regular income in a disciplined manner, which gets accumulated during working years, to provide for retirement needs.
  19. 19. It does not have death benefit attached to it and hence has no mortality charges.
  20. 20. Whereas, SIP, is a way to invest in Mutual Funds regularly. The idea is to set apart a sum every month or quarter, and use that to buy units of a particular mutual fund, regardless of its price. The investors save regularly & build an Investment.</li></li></ul><li>Continued……..<br />RETURNS UNDER PENSION FUND<br /><ul><li>To buy this plan, Investor has to pay Rs.30,000 annually.
  21. 21. Fund Management Charges in the ULPP is 0.80% per year. Administration charges is Rs.240 pa from the second year onwards & Premium allocation charge is 2.5% pa.
  22. 22. On maturity , one-third of the corpus is given as Tax-free lumpsum, while the rest is used to but annuity. The income drawn from annuity is taxable.
  23. 23. Assuming a 10% rate of growth, the Investments will grow to approx. Rs.15,83,494. Total charges will come to Rs.1,14,266.
  24. 24. A Major drawback of this Plan is that if the policy is surrendered anytime within the policy tenure then the fund value, net of surrender charges, is taxable.</li></li></ul><li>Continued……….<br />RETURN UNDER SIP<br /><ul><li>Under SIP, an investor has to invest Rs.2,500 monthly for 20 years in an Equity diversified mutual fund scheme.
  25. 25. The FMC is decreasing over a long term period of time. It is 2% for the first 5 years, 1.75% for the next 5 years & 1.5% for the remaining period thereafter.
  26. 26. Assuming 10% growth, the Investments would grown to approx. Rs.14,87,868. Total charges will come to Rs.1,97,646, which is almost Rs.83,000 higher than ULPP.
  27. 27. Thus Pension Plans score over MFs in Long run because of its low FMC. The FMC makes a significant impact by reducing the corpus available for investments.</li></li></ul><li>Western Money start sending money through Bandhan route<br /><ul><li>Western Union is going to start sending money through Bandhan Financial Services, the country’s fourth-largest Microfinance Institution.
  28. 28. The arrangement with Bandhan, which is the largest micro-lender in the east, will help Western Union expand its money transferring business in this region.
  29. 29. Western hope to reinforce its rural presence through Bandhan’s extensive network of over 1,500 rural locations across India.
  30. 30. Western Union has 10 principal agents & a large network of sub agents to deliver services in the country.</li></li></ul><li>THANK YOU<br />

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