Wednesday, 2 October 2013
Tuesday, 1 October 2013
Why INR currency is sinking in the universal currency ocean
???
First 10 Reasons why INR currency is sinking in the
universal currency ocean
• Widening Current
Account Deficit: (FEMA) The widening gap between what India earns from the rest
of the world and what it pays to them is pushing up demand for the dollar and
other foreign currencies.
• Policy Inaction:
Perception of lack of clarity on policy front is also fanning speculative
demand wherein the Reserve Bank of India (RBI) on one day said it will tighten
liquidity and on yet another said it will inject $1 billion into the market.
• Falling Forex
Reserves: India's foreign exchange (Forex) reserves are enough to cover imports
of seven month only. The forex reserves have steadily declined in the recent
months, due to which the RBI can't intervene aggressively sell dollars to prop
up the rupee.
• Economic Slowdown:
India's gross domestic product (GDP) growth fell to a decade low of 5% in
2012-13 and 4.5% in the January-March quarter. As a result, foreign investors
are losing confidence and pulling money out of the Indian markets.
• Dependence on
Foreign money: India's current account deficit was financed by foreign money
for the last many years. Withdrawal of money by overseas investors is leading
to the weakness in the rupee.
• Recovery in the US:
The slow but steady recovery in the US is making the greenback stronger against
other currencies, as investors pull out money from other markets to reinvest in
the US.
• Stimulus
Withdrawal: Indications that the US may withdraw or ease the fiscal stimulus
package could potentially tighten liquidity in global markets and put the
brakes on funds for developing economies.
• Capital Controls:
The decision by the Reserve Bank and the government to impose temporary
restrictions on capital flows has not gone down well with the markets. It not only discourages Indian companies from
investing abroad, but also foreign firms from pumping money into India.
• Trends in other
markets: The rupee is also following the trend seen in the currencies of other
emerging economies such as Brazil, Indonesia, Russia and South Africa. Only
China has seen its currency appreciate against dollar in recent times.
• Speculative
Trading: Speculative trading in the currency markets is putting further
pressure on the rupee.
What is the remedy for this problem??? how can we save our economy???
In 1970 1$ = Rs. 4
Today 1$ = Rs. More than 62
Estimated 1$ by end of the year = Rs. 70
Dollar is not getting stronger, rupee is getting weaker!
& nobody else is responsible for d fall, except us!
How can we change it!
Some of these small changes in our daily routine can lead to a Major difference..
here are some of the Desi Tips..the list can be increased...
1. A Cold Drink produced for 70-80 paisa sold at Rs.
9-10! Stop drinking them, Drink Lemon juice,
Lassi, Fruit juice, butter milk etc. instead of coke, pepsi.
2. Use Soaps such as Cinthol, Santoor,Medimix, Neem, Godrej
brands instead of lux,lifebuoy, rexona, liril, dove, pears, hamam,camay,
palmolive!
3. Toothpaste-
Use Neem, babool, vicco, dabur instead of colgate, close
up,pepsodent, cibaca
4. Toothbrush
Use prudent, ajanta,promise instead of colgate, close up,
oral-b, pepsodent, forhans
5. Shaving cream- Use godrej, emamive,old spice,Instead of
Palmolive, Gillette
6. Blade-
Use supermax, topaz, laser, ashoka Instead of seven-o-clock,
365, gillete
7. Talcum powder- Use santoor, gokul,cinthol, boroplus
Instead of ponds, old spice, johnson,shower to shower.
8. Milk powder Use indiana, amul,amulya Instead of
anikspray,milkana, everyday milk, milkmaid
9. Shampoo- Use Nirma, Velvette, head and shoulders, pantene
Instead of halo, all clear, sunsilk
10. Mobile connections- Use bsnl, airtel, reliance,idea
Instead of vodafone
11. Food-Eat at jay bhavani, TGB, local restaurants Instead
of mac-d, subway, pizza hut, kfc
12. Mobile Use micromax, karbonn, lava Instead of
samsung,apple, htc, sony
13. Bikes- Use hero, royal enfield Instead of honda, yamaha
14. Footwear- Use bata, chavda Instead of nike, reebok,
adidas, converse
15. Jeans and shirts Use spykar, k-lounge In stead of lee,
levi's, U.s. Polo, pepe, benetton
16. Watch Use titan,
sonata,fasttrack Instead of tommy, Citizen, zodiac, tissot
Dont use products from hindustan lever, Only name is
hindustan it has been taken by foreign company
We blame politicians
Now go and check the things you use and ask yourself how
much do you contribute to the decreased value of RUPEE
You use these foreign made products & Government hav to pay
in dollars for d same thus value of rupee Decreases.
Aren't u responsible for fall of rupee.
Samsung S4 at Rs 41k. Same features Micromax Can4 comes at
Rs 17k means u waste Rs 24k and these 24k go to south Korea in dollars.
None of the indian products are subordinate in quality, they
might look a bit less fancy!!
Why is china so ahead, because the whole world uses made in
china items.
We indians could atleast use made in india items!
Tuesday, 24 September 2013
Highlights of the new Companies Bill
The Apex house of the Parliament passed the Companies Bill on August 8, 2013 after much hindrance The bill replaces Companies Act, 1956, and had been passed by the Lok Sabha in December last year. Key highlights of the new Companies Bill are as under:
1. Incorporation of a One Person Company has been permitted.
2. Numbers of permissible members in private company has been raised to 200 as against existing limit of 50 members.
3. Listed companies shall have at least 1/3rd of the total number of directors as Independent Directors and the Central Government may prescribe the minimum number of Independent Directors for any class of public companies.
4. Nominee director cannot be regarded as Independent Director.
5. Maximum term of Independent Director has been restricted to five years at once subject to a maximum of two such terms.
6. Appointment of at least one woman director on the board of prescribed classes of companies has been made mandatory.
7. Appointment of at least one director resident in India, i.e. a director who has stayed in India for at least 182 days in the previous calendar year, is made mandatory for all companies.
8. Maximum number of directors has been increased from twelve (12) to fifteen (15) directors, Further no Central Government approval is required to increase the maximum no. of directors beyond fifteen(15). Shareholders of companies may do so by passing a special resolution.
9. A person can hold directorship of up to 20 companies, of which not more than 10 can be public companies.
10. No listed companies shall appoint:
i. an individual as auditor for more than one term of five consecutive years, and
ii. an audit firm as auditor for more than two terms of five consecutive years.
11. Shareholders are at liberty to decide by passing resolution that audit partner and the audit team, be rotated every year.
12. CSR has been made mandatory for a company having Net worth of Rs. 500 crore or more, or Turnover of Rs.1,000 crore or more or Net profit of Rs. 5 crore or more during any financial year. Under the new bill, companies are required to spend at least 2% of their average net profits for the three immediately preceding financial years on CSR
13. The new bill bans holding Treasury Stock which is often used by companies to increase shareholding or future monetization after consolidation.
14. Financial Year of any company can end only on March 31 and only exception is for companies, which are holding / subsidiary of a foreign entity requiring consolidation outside India, can have a different financial year with the approval of Tribunal.
1. Incorporation of a One Person Company has been permitted.
2. Numbers of permissible members in private company has been raised to 200 as against existing limit of 50 members.
3. Listed companies shall have at least 1/3rd of the total number of directors as Independent Directors and the Central Government may prescribe the minimum number of Independent Directors for any class of public companies.
4. Nominee director cannot be regarded as Independent Director.
5. Maximum term of Independent Director has been restricted to five years at once subject to a maximum of two such terms.
6. Appointment of at least one woman director on the board of prescribed classes of companies has been made mandatory.
7. Appointment of at least one director resident in India, i.e. a director who has stayed in India for at least 182 days in the previous calendar year, is made mandatory for all companies.
8. Maximum number of directors has been increased from twelve (12) to fifteen (15) directors, Further no Central Government approval is required to increase the maximum no. of directors beyond fifteen(15). Shareholders of companies may do so by passing a special resolution.
9. A person can hold directorship of up to 20 companies, of which not more than 10 can be public companies.
10. No listed companies shall appoint:
i. an individual as auditor for more than one term of five consecutive years, and
ii. an audit firm as auditor for more than two terms of five consecutive years.
11. Shareholders are at liberty to decide by passing resolution that audit partner and the audit team, be rotated every year.
12. CSR has been made mandatory for a company having Net worth of Rs. 500 crore or more, or Turnover of Rs.1,000 crore or more or Net profit of Rs. 5 crore or more during any financial year. Under the new bill, companies are required to spend at least 2% of their average net profits for the three immediately preceding financial years on CSR
13. The new bill bans holding Treasury Stock which is often used by companies to increase shareholding or future monetization after consolidation.
14. Financial Year of any company can end only on March 31 and only exception is for companies, which are holding / subsidiary of a foreign entity requiring consolidation outside India, can have a different financial year with the approval of Tribunal.
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