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Green job hiring to be up by 60% in 2012

Ziaulla Namani — Fri, 20 Jan 2012 14:18:29 +0000

With ‘global warming’ becoming a major concern world over, hiring of green professionals is likely to grow by up to 60 per cent this year, say experts.

“Companies are today taking steps to become environment-friendly and are hiring green professionals, who can help them reduce energy consumption.

Elixir Consulting Executive Director Kanika Vaswani said, “The demand for environmental professionals is expected to go up by 55-60 per cent this year, as firms are raising their spending on creating clean technology, reducing emissions and wastage and regulating use of natural resources.” Green job is mainly defined as work in agricultural, manufacturing, research and development, administrative and service activities that contribute substantially to preserving or restoring environmental quality, she said.

An environmental professional reviews the direct and indirect impact of products on the ecology and devise strategies to protect the atmosphere, she added.

Green jobs can either be white or blue-collar in sectors like agriculture, manufacturing, R&D, administration and service activities like IT and finance.

With growing demand for green buildings, the real estate sector is likely to emerge as one of the biggest recruiters of green professionals, she said.

Elixir has observed a trend of hiring environment professionals in the FMCG and retail sector as well.

Echoing the view, executive search firm GlobalHunt Director Sunil Goel said the hiring of green professionals began a decade ago, but paced up 5-6 years back, when many industries faced mandatory regulations to have environment experts and green department to manage waste and hazard. In 2012, he said, hiring will increase by 30-40 per cent for green professionals and this growth is likely to remain consistent for next five years.

Executive search firm Symbiosis Management Consultants CEO Vinay Grover opined that usually these professionals hold masters degree (M.Sc, M.Tech) in Environmental Engineering by IIT’s, state owned universities and other couple of AICTE approved colleges as well.

People with Civil and Chemical Engineering background also become environment professionals, he said.

The power, oil and gas, chemical sectors, he said, are the traditional employers for the environmental professionals, however, with the growing concern towards the ecology, the trend is also visible in FMCG and IT.

“In India, there aren’t many green professionals available in the market and seeing it as coveted career, more and more people are likely to pursue it as a career option,” he said.

Indian Inc optimistic about growth

Ziaulla Namani — Wed, 18 Jan 2012 14:40:30 +0000

The business outlook of Indian entrepreneurs for 2012 is resilient despite economic turmoil the world-over, with “unreserved optimism” for the growth prospects of the Indian economy this year, says a survey by global consulting major Grant Thornton.

“Amidst widespread gloom, India appears to be the sole provider of cheer, where the outlook on human resources is concerned, as all six cities that was covered under our survey showed almost unreserved optimism for the growth prospects of the Indian economy in 2012,” the Grant Thornton report said.

In the year 2011, India retained its position as one of the fastest growing economies of the world and even though the growth was toned down by the global slowdown, the scenario continues to be bright in comparison to the global outlook.

Barring Kolkata, where 31 per cent of the respondents expressed pessimism, cities such as Bangalore, Pune, Delhi, and Chennai remain optimistic about the Indian economy.

India’s financial capital, Mumbai, was the most optimistic, with 95 per cent of the respondents expecting a positive economic environment over the next 12 months, the report, titled, ‘India Ahead: A Quarterly Snapshot of India’s Economic and Business Outlook’, said.

However, Indian businesses are struggling with a shortage of right people with the right skills and needs a thorough overhaul of its education and training system, Grant Thornton Partner Vinamra Shastri said.

“The extent to which India can derive economic gains by increasing its workforce will be only be constrained by the lack of integration between education and skilling. India still lags far behind the developed economies and many other emerging economies in terms of education and training,” the report said.

As per the survey results, Mumbai and Chennai had the highest availability, while Kolkata seemed to display the most acute shortage of a skilled workforce.

This report by Grant Thornton India draws on survey results from Grant Thornton’s International Business Report, which is an international survey of the opinions of medium to large privately held businesses

Source – Financial Express

©2009 Copyright by Invest In India

War in Indian small car market

Malvika — Mon, 26 Sep 2011 13:07:45 +0000

At least seven auto makers will launch small cars in the Rs 2-4 lakh price band over the next few months.

While Japan’s Honda will launch the Brio on Tuesday, Korean giant Hyundai is expected to unveil its Eon during the Diwali week.

Maruti Suzuki India — the country’s top car maker — also plans to launch a car built on the Alto platform in 2012.

Other auto giants, including Renault, Skoda, Volkswagen and Fiat India, are gearing up to unveil small cars next year.

Such cars constitute more than 70 per cent of around 2.5-million cars sold in the country.

According to analysts, there will be a strong demand for entry-level models as more customers graduate from motorcycles.

“This segment will be particularly important as manufacturers focus on rural/semi-urban markets where the buying power will be lower than the urban locations,” Kumar Kandaswami said.

Even in the metros and big cities, the demand for small cars is expected to come from first-time buyers such as young professionals feeling the pressure of rising loan rates and high fuel prices.

Industry players said Hyundai was planning to price its Eon lower than Rs 3 lakh, while Maruti’s replacement of the 800, named Cervo, could come for Rs 2.5 lakh.

French car maker Renault is gearing up to compete in the mass market with its new car based on the same V-platform that underpins the Nissan Micra and Sunny.

“We will launch our small car in India by next January,” said Len Curran, sales and marketing vice-president at Renault India. The car is expected to be priced at around Rs 3 lakh.

Germany’s Volkswagen is evaluating the possibility to bring in its brand the Up!

Source – The Telegraph

©2009 Copyright by Invest In India

Reliance to invest $ 30 billion

Malvika — Fri, 18 Feb 2011 04:23:45 +0000

As per the report by the news agencies, it is learnt that the Billionaire Mukesh Ambani’s led Energy major, Reliance Industries India is abou to go for the major investments in India over 5 years period, The investment amounts to USD 30 billion.

Reliance will invest mainly in petrochemicals, exploration and production and telecom businesses.
Reliance industry disclose its investment plans last week in a conference organized by Bank of America Merrill Lynch.

The company expects its five main business in the next 5-10 years to be petrochemicals, refining, E&P, retail and telecom.

RIL would invest USD 10-12 billion in petrochemicals, while spending another USD 10 billion on exploration and development of (oil and gas) discoveries already made in shale gas in India and US.
Besides, RIL would invest USD 4.5-4.7 billion (over Rs 20,000 crore) in telecom over the next five years, Bank of America-Merrill Lynch (BofA-ML) said in a research note about its investor conference.

RIL has already spent USD 2.8 billion on acquiring 4G licenses and spectrum, which it got last year through acquisition of Infotel Broadband Services.

Aslo Reliance has indicated a surge in its EBTDA (earnings before interest, taxes, depreciation, and amortisation) to USD 15 billion by FY15.
Last month, RIL reported a 28.14 per cent rise in its third-quarter net profit at Rs 5,136 crore, helped by robust performance in its refining and petrochemicals businesses.

On the achievement, Reliance chief, Mukesh Ambani had said: “Reliance had another record quarter as both refining and petrochemical margins continued to improve and certain products recorded historic levels.”

“Robust demand growth in home markets and highly competitive assets enabled Reliance to have industry leading operating rates and margins,” he added

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CEOs confident of growth: PwC

Malvika — Thu, 27 Jan 2011 04:14:39 +0000

It is reported in PTI that the business tycoons are confident of witnessing growth at pre-financial crisis levels in 2011, driven by the potential in emerging economies like India.

As per consultancy firm PricewaterhouseCoopers’s 14th Annual Global CEO survey, out of 1,201 CEOs, 48 per cent said they are confident of growth in the next 12 months. In contrast, only 31 per cent of the CEOs expected to see growth in the previous survey.

“The post-recession global economy is recovering on two- tiers. Emerging economies like China, India and Brazil are growing at rates that far surpass the developed nations,” PwC International Chairman Dennis M Nally said.

The CEOs consider China as the most important country for future growth, followed by the US, Brazil and India, as per the PwC survey.

India, China and the US were also seen as important future sources for products and raw materials, it said.

Regionally, most CEOs said they expect their operations in Asia to see the most expansion in the next 12 months, followed by Latin America, Africa, the Middle East and Eastern Europe.

“It is indeed exciting to note that in the post-crisis scenario, global CEOs are looking at emerging economies like India and China as important contributors in their growth,” PwC India Chairman Deepak Kapoor said.

“The pace at which these economies have been growing even during the crisis period, owing to strong domestic demand, is phenomenal and it is this resilience that will hold us in good stead in the long term,” he added.

However, uncertain or volatile economic growth, individual governments’ response to fiscal deficit and over- regulation, besides problems like exchange rate volatility, unstable capital markets and protectionism, have been cited as potential threats to growth, it said.

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Indian corporate to investment to the tune of 15 lakh crore in Gujarat

Malvika — Thu, 13 Jan 2011 13:01:16 +0000

In a summit in Gujarat called ‘Vibrant Gujarat’, various business
tycoons made a commitment of investing Rs. 15 lakh crore over years in
Gujarat on the first day of the summit.
These figures easily makes Gujarat, India’s pristine position as a
corporate destination.
In the summit, Vibrant Gujarat, the state government said it signed a
total of 2,766 commercial MoUs with business houses and companies on
Wednesday.

The sectors which attracted major investments are infrastructure,
power, special investment regions, mineral-based industries, banks and
financial.
The special investment regions will see an investment of Rs. 1,22,742
crore, while the mineral-based industries segment had Rs. 1,34,645
crore.

Banks and financial institutions will see investment of up to Rs.
1,72,400 crore coming in, while that of oil and gas is at Rs. 40,679
crore.

Gujarat based Adanui group announced an investment of Rs. 80,000
crore in port, power generation and infrastructure, followed by Anil
Ambani-led Reliance Group’s Rs. 50,000 crore plans in the state in the
next 5-7 years on various projects in power and cement.

Essar Group said it will invest Rs. 30,000 crore in Gujarat for
projects in various sectors, including power and refinery.

Engineering and construction giant Larsen & Toubro also committed an
investment of Rs. 15,000 crore in Gujarat on infrastructure projects.
Hindustan Construction Company (HCC) also said it will invest Rs.
12,000 crore to develop a renewable energy park in the state.

Farm equipment-to-software group Mahindra & Mahindra also signed six
MoUs with the state government to invest Rs. 3,000 crore to step up
presence in the hospitality and real estate sectors in the state.

General Motors committed of Rs. 450 crore to enhance production
capacity at its Halol plant to 1,05,000 units annually from 85,000
units per year at present.

©2009 Copyright by Invest In India

E&Y survey says Indian businesses will see intense competition in the next future

Malvika — Thu, 30 Dec 2010 05:05:06 +0000

It is reported in Economic Times that, according to report released by Ernst & Young, despite of global economic recovery market will see more challenging environment. The market will be more competitive over the next two years.

56 high profile Indians from the business world feels that the market will be more competitive.
The study, titled Competing for Growth, also includes 56 senior executives from India. Ninety-five percent of the Indian respondents state that their market will be more competitive over the next two years.

The report titled ‘Competing for Growth’ says that the next two years will focus more on growth. The report gives the feel that the market will be more unpredictable than before the crisis.

Chances are that in Asia, Indian market will be volatile by around 69%.
Emerging markets expect competitiveness to increase the most, as companies from developed markets enter and local players intensify their focus. Half of the Indian respondents cite existing players from emerging markets and 38% cite new players from developed markets as most prominent factors driving increased market competitiveness over the past two years.

“With over 8.5% GDP growth, India continues to offer enormous potential, it is equally getting more competitive, particularly on key aspects like building market share, accessing talent and other input costs. In order to remain competitive, businesses are increasingly considering options like more effective use of alliances/partnerships and transformation initiatives to make them more agile in responding to change; focusing on building the brand and reputation and driving service/product innovation,” said Farokh Balsara, partner and national leader – markets, Ernst & Young India.

©2009 Copyright by Invest In India

Post Coal India IPO, Union government hope for more foriegn investments in coming IPOs

Malvika — Wed, 10 Nov 2010 07:47:25 +0000

The Coal India IPO, which opened to tremendous response not only attracted the domestic investors but also the overseas one.
The IPO by coal India was oversubscribed. The IPO saw a total of 774 foreign investors applying for the Coal India IPO, resulting to oversubscribing the qualified institutional buyers to the tune of 16 times.

The positive response from the overseas subscribers in the recently concluded Coal India IPO has encouraged the Department of Disinvestment (DoD) of the Union Government to identify the first-time foreign investors in the country.

This step by the Central Government will help them to target the foreign investors and groups for the next public offerings by the government controlled enterprises.

According to the CIL chairman, Mr Partha S Bhattacharyya, “The details of these institutions and their investment patterns are yet to be worked out. However, a quick assessment suggests that many of these investors have invested in the country’s capital market for the first time.”

Mr Sumit Bose, Secretary, Department of Disinvestment, said “During the road-shows abroad, many investors told us that they would be looking forward to make a maiden entry in the country’s capital market through the CIL IPO. However, we will take time to get the relevant details.”

He confirmed that the department was scanning the qualified institutional buyers list to broad base its target market for the upcoming issues.

Meanwhile the Centre is planning to raise an estimated Rs. 40,000 crore through opening the IPO of companies namely SAIL, Indian Oil and ONGC.

©2009 Copyright by Invest In India

39 Indian companies make to Forbes ‘Best Under A Billion’ Asia list

Ziaulla Namani — Fri, 03 Sep 2010 03:07:37 +0000

With 39 Indian companies in Forbes ‘Best under A Billion’ Asia list India is placed on the second position.

India is in second place with 39 entries, 19 more than last year, this number makes India the biggest gainer. More Indian companies made the list this year as the country is less open than many other Asian economies, and was therefore, less affected by the global downturn.

From the total of 200 companies, 151 firms are new on the list, compared with 136 last year, while 49 are returnees. Firms in information technology, healthcare and electronics sectors accounted for close to half of the 200 companies on the list.

Of the entire total companies, 71 firms based in China and Hong Kong.

The Indian companies like Jindal Drilling and industries, Emami, Exide Industries, Compact Disc India, Amara Raja Industries, Everonn Education, , ELGI Equipments and ICSA (India) and others made to the list of ‘Best Under A Billion’ Asia List.

The ‘Best Under A Billion’ list is chosen from nearly 13,000 publicly-listed Asia-Pacific companies with actively traded shares and having sales in the range of USD 5 million- USD 1 billion.

The selection of the best 200 companies is based on earnings growth, sales growth, and shareholders’ return on equity in the past 12 months and over three years.

September 2010 issue of Forbes Asia Magazine will carry the “Best under a Billion” list.

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The Real Slum Dog Millionaire

Malvika — Thu, 15 Apr 2010 05:06:15 +0000

Patak’s is a household name in Britain today. It is the brand name of curry pastes and spices. Patak’s sells ready meals too, to major supermarkets in UK, Europe and North America. In 1950, a Gujarati Brahmin, Laxmishanker G. Pathak, arrived in London from Kenya with his wife and six children, with only 5 pounds in his pocket. There he couldn’t find a place selling bona fide Indian food. From his own kitchen he and his wife prepared authentic Indian food for the expatriate Indians.

The home made Indian dishes conquered the minds, through their stomachs, of not only the Indians but also the foreigners. Patak’s was founded in 1957, and now people in more than 40 countries crave for Patak’s products, all over the world. The company’s popularity can be attributed to its large product list, which includes authentic Indian snacks, microwavable curries, pickles, ready meals etc. 75% of Indian restaurants in the United Kingdom use Patak’s products.

A business, which was started as selling home made samosas, has now reached its pinnacle of success. In 2007 the Associated British Foods took over the firm from the then owner Kirit Pathak. The deal was signed for an incredible sum of 200 million pounds. Though the deal was finalized the Indian flavor will stay with the company, because Kirit Pathak (son of Laxmishankar) and Meena, his wife, will stay in the company as chairman and director respectively.

Patak’s unprecedent success will inspire more expatriate Indians to venture into new businesses and become successful. It seems there are already many Patak’s in the making. Let’s us wish them great success in the near future.

From time immemorial Indian spices and dishes had enslaved the foreigners. Now it is the turn of young entrepreneurs like the Patak’s to conquer the countries all over the world, through their delicious ready to eat dishes.

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IOB hiked deposit rates, Central Bank reduces rates of loan for doctors, revise deposit rates

Tushar Mathur — Thu, 18 Mar 2010 11:31:00 +0000

On Monday Indian Overseas Bank (IOB) has revised its deposits interest rate. The revised rates will be effective from March 15. As per revised rates for deposits of less than Rs 1 crore for tenure of 270 days and less than one year, the rate has been fixed at 6%, while for one year to less than five years at 6.75% and five years and above at 7.25%. And for a deposits of Rs 1 crore and above for a period of one year and above, the rate has been fixed at 6.5%.

Another bank Central Bank of India, a state-owned lender is offering loans to doctors at low interest rate. Bank has reduced interest rates on loans by 150 basis points for doctors for purchase of equipment and 100 basis points for construction of nursing home/ clinic/clinic cum residence (from 12% to 10.5 % for purchase of equipment and from 13 % to 11% construction of nursing home/ clinic/clinic cum residence.)

The bank has also announced wavier of the processing fee for its direct housing finance scheme, personal loan to corporate and non-corporate employees, Cent Jewel, teachers’ loan, Cent Vyapari, Cent Swabhiman plus until the end of the month.

The bank has also hiked its deposit rates on domestic term deposits from 25 basis points to 150 basis points on the deposits of Rs 15 lakh and above. The revised rates will be effective from Monday. The interest rate on domestic term deposits above Rs 15 lakh, but less than Rs 1 crore has been revised to 6.5% (6.25%) for the period one year to less than two years has been revised to 6.75% (6.5%) for two to less than three years and to 7% (6.5%) for three to less than five years.

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MFs dig infra for big bucks

Tushar Mathur — Sat, 27 Feb 2010 10:11:00 +0000

The mutual fund industry didn’t get anything from the finance minister, but that has not stopped them from exploring how they could work out some of the other proposals in direct taxes to their advantage . Though a sizable part of the industry was expecting the FM to scrap the tax arbitrage opportunity available to corporates investing in short-term debt products, he did not oblige.

Some mutual fund players were trying to figure out whether they could corner the extra Rs 20,000 investment that qualifies for tax deduction announced in the Budget. In addition to Rs 1 lakh under section 80C, an investor can invest an extra Rs 20,000 in long-term infrastructure bonds to claim tax deduction, the FM said in his Budget speech.

“We are not sure whether we will be able to launch a product to invest in these bonds,’’ said the chief of a private sector mutual fund. “Since this is in addition to Rs 1 lakh, even our tax saving schemes won’t be able to attract this amount,’’ he added. “MFs are unlikely to get this pie.

Even in the past, the government had allowed ICICI and IDBI to issue taxfree bonds,’’ said another MF manager. “The government is most likely to come up with a list of institutions which can issue such bonds in the near future.’’

Financial advisers are unanimous that the bonds will be useful for investors looking for long-term taxfree returns. However, they await details — such as the lock-in period and interest rate — before recommending them to their clients. They believe that the bonds could lose their charm if they have a long lock-in . However, the tax-free status, backed with government guaranty, would still make them hugely popular among risk-averse investors.

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Slowly banks are raising fixed deposit rates

Tushar Mathur — Fri, 26 Feb 2010 10:55:00 +0000

In the coming months fixed deposit can again be a good investment option as the deposit rates are on their way up. But the things will get better in fiscal 2010-11.

Last week HDFC Bank had raised its deposit rates by 25-150 basis points (one basis point equals one-hundredth of 1%) across various terms. Earlier this month, IDBI Bank and ICICI Bank had raised the deposit rates by 25-50 basis points for some maturities, while J&K Bank had raised rates by 75 basis points on deposits above one year. The public sector Union Bank of India is proposed to raise deposit rates later this week. More banks are likely to follow the suit.

According to analysts the bigger banks will join the bandwagon to remain in competition. Ashish Gupta and Deepak Ramineedi, analysts at Credit Suisse, wrote in a report dated February 22, “With these rate actions, State Bank of India and ICICI Bank deposit rates are now at a 50-100 basis point discount (for some maturities) and they will now need to follow suit.”

But big bankers disagree with it. OP Bhatt, chairman, SBI, said in Delhi that his bank will not raise deposit rates before May-June as it has surplus liquidity (the amount of free money it had to give out as loans).

By the end of December 31, 2009, the bank liquidity was whopping over Rs 75,000 crore.

MD Mallya, chairman and managing director, Bank of Baroda said, “There is ample liquidity in the system. Hence, at the moment we are not looking at raising interest rates on deposits.”

But Gupta and Ramineedi of Credit Suisse said that “as loan growth (14.8% currently) accelerates and the central bank starts tightening money, this liquidity will also dry up soon.” In the recent past banks’ deposit growth rates have declined as much as four-year low of 17%. Therefore, banks raise lending rates then deposit rates have to rise.

©2009 Copyright by Invest In India

Use FD overdraft to pay for big purchase deals

Tushar Mathur — Fri, 19 Feb 2010 11:04:00 +0000

To make payment of big purchase deals go for overdraft facility rather than taking personal loan or swiping a credit card. In case of personal loan or credit card you have to pay high interest. Whereas in overdraft facility you can place a fixed deposit with a bank and avail this facility.

When you place your fixed deposit with bank you earn return on investment and can use the same money to leverage funds at a low interest rate which can be used for the payment of purchases.

Moreover in overdraft facility you can borrow funds at 1 per cent to 2 per cent above the fixed deposit rates. Currently, the deposit rates of most of the banks range from 6 per cent to 7.50 per cent for a one to three years time period. However, SBI is offering 6 per cent, ICICI Bank 6.25 per cent and HDFC Bank is offering 6.50 per cent interest on fixed deposits for a one-year period.

If the payment is done through credit card, it is split into equated monthly installments for over a period of one year, which means you might have to pay an interest of 36 per cent to 45 per cent per annum. Whereas personal loan is an unsecured loan, the interest rate can range from 16 to 18 per cent.

According to an official of Oriental Bank of Commerce, “It is always better to take an overdraft facility against a fixed deposit than pay through a credit card for long-term repayments’ because it will carry a minimum interest rate, even lower than personal loans”.

An official of United Bank of India said, “During the time when interest rates were very high, many customers who had placed their long-term fixed deposits managed at a very low rate to take the advantage by financing their purchase of cars.”

According to Financial planner Kartik Javeri, “During an emergency, it (overdraft) is the best source for financing, but one should also have the capability to pay money quickly.”

©2009 Copyright by Invest In India

IDBI Bank raised deposit rates, introduced new slab of 500 days

Tushar Mathur — Fri, 19 Feb 2010 10:41:00 +0000

IDBI Bank has increased its deposit rates by 25 basis points (bps) and has also added a new slab of 500 days offering 7 per cent rate.

Before IDBI bank, Union Bank of India, ICICI Bank and Jammu & Kashmir Bank (J&K Bank), have raised their deposit rates. But Union Bank and ICICI bank had raised deposit rates for only one slab, whereas IDBI has raised rates across five slabs.

Last week, J&K Bank had raised deposit rates by up to 75 bps for slabs of one year or more. IDBI Bank said its new updated rates on term deposits will be applicable from February 15.

A senior executive of IDBI Bank said, “This is the right time to raise funds albeit at slightly higher rates, especially in the 500-day bucket, as the liquidity in the system is high. This will help reduce pressure of competition next year, as these deposits would mature in July-August 2011.”

RATE CARD

* In early January, Union Bank introduced new maturity bucket of 555 days offering 6.75 per cent
* Effective January 8, ICICI Bank raised the interest rate on deposits of 270 days to less than one-year maturity by 25 basis points to 5.75 per cent
* On January 29, RBI announced a two-stage hike in CRR by 75-basis points to 5.75 per cent
* Effective February 8, J&K Bank raised rates by 75 basis points for maturity buckets of over 1 year

He added, “The bank’s dependence on market borrowings has been high. Now, we want to grow the base of a stable source of funds over the next three-four years”. The maximum rate being offered by bank is 7.50 per cent on deposits with tenure of 1,100 days, while the on the new slab of 500 days it is offering 7 per cent a year.

A banker pointed out banks are trying to acquire deposits in select maturities, in order to steal a march over the competition before they start raising interest rates as a whole.

Bank has raised deposit rates after the hike of 75-bps rise in the cash reserve ratio, or the proportion of deposits that bank set aside. The CRR is expected to suck out Rs 36,000 crore from the system.

During the second fortnight of January the deposit flow was healthy the banks getting nearly Rs 53,000 crore and the growth during the year till January 29 was 17.09 per cent, marginally low from the Reserve Bank of India’s (RBI’s) projected 18% for the year.

At present other players don’t seem to raise rates, due to low demand for funds. Banks like State Bank of India currently are not planning to do any increase, as it has around Rs 75,000 crore of cash.

Indian Overseas Bank Chairman & Managing Director SA Bhat informed, “There is enough liquidity in the system. Since we are not in a position to raise lending rates due to extreme competition and year-end pressure, I do not propose to increase deposit rates unless the asset-liability committee thinks otherwise.”

©2009 Copyright by Invest In India