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Popular Articles

OilMin not to let RIL off hook for MoU with ADAG
The government has not let Reliance Industries off the hook for signing a private MoU with a firm run by the Anil Ambani Group to divide entire gas volumes from KG basin fields, thus holding industrial development to ransom, the petroleum ministry said today.

'Too much stimulus could be injurious'
The Finance Ministry today hinted that stimulus packages given to the industry may be rolled back, saying too much stimulus could be injurious when the economy is on a revival mode.

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Lisbeth Salander returns
The late Swedish journalist/author Stieg Larsson was the man behind Lisbeth Salander — the undeniably twisted and talented female protagonist of his “Millennium” trilogy. The second part in the series, The Girl Who Played With Fire, translated from Swedish by Reg Keeland, continues from where the first book left off — asocial heroine Salander once again back to her punch-throwing, expert computer hacking ways that she honed as a former security analyst in Stockholm, spinning yet another edge-of-the-seat crime thriller. Interestingly, Larsson’s father Erland Larsson, while receiving an award for his late son last year, revealed in an interview that the character of Salander seems to have been inspired by his son’s niece Terese, to whom the author had been very close.
Public Relations

LIC, Central Bank to boost trade in interest futures

The interest rate futures (IRFs) trading in the country will get a boost in coming days, as Life Insurance Corporation (LIC) and Central Bank of India have agreed to provide support to the exchange-traded product. Both these will ensure adequate liquidity on the National Stock Exchange (NSE)— the bourse where IRFs are traded. - BPCL rises 2.6% - Sebi may widen PMS scope - Insurance staff oppose move on Bills - Few takers for interest rate futures - Two key finance Bills to miss Winter session - Pvt placement debuts in public sector banks LIC will purchase the Government of India (GoI) securities from those who want to liquidate the securities received against their IRF obligations at a small yield spread over the Fixed Income Money Market and Derivative Association (Fimmda) valuation rates. On the other hand, Central Bank of India would offer securities from its book to members who want to meet their IRF obligations. “The IRF market is expected to see larger volumes in coming days, as the promised support from LIC and Central Bank will remove concerns about the physical delivery settlement,” said a member of NSE. There has been a tepid response to IRF, which made a comeback in August, six years after an attempt to allow companies to hedge their risks failed. The average daily turnover on NSE had declined from over Rs 267 crore on August 31 to around Rs 10-20 crore and a number of contracts traded too fell significantly. The main reason cited by market players was poor response from banks and insurance companies, which had raised liquidity concerns. However, the move by NSE to rope in LIC and Central Bank to create liquidity may boost trading. Globally, IRFs account for 25-30 per cent of derivative transactions.


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