In the 3G spectrum auction, which closed on Wednesday, the government will receive Rs 67,719 crore. According to market sources, the government is likely to garner an additional Rs 12,000 crore from BWA auction. So, total revenue from the spectrum action will be Rs 80,000 crore which is Rs 40,000 crore more than the budget. This has become an aid for the development work for the government of India.
Where will this fund come from? As we know, Telecom companies has to pay this amount to the government. No telecom company has that much fund in hand to pay. They have to move to their financiers, the major banks in India. It will be a challenging task for them to arrange this huge fund. This may create liquidity problem among the banks and the telecom firms. In June 2010 as close to Rs 100,000 crore goes out of the banking system.Once the very huge fund has been gone by the banks the banks have to wait until the government spends the money which will take a few months.
No firm has made a call in all 22 circles is an evidence that they are not able to meet fund requirements. When they look at the bankers this became head ache of the bankers to arrange he fund. The short term interest rates may also go up due to the huge demand. It might change the current situation for few months. The ordinary customer is less likely to be affected by this move.
Thursday 20 May 2010
Wednesday 5 May 2010
Now UPSC term to reform, Pass CSAT to become IAS officer
Indian Civil Service System has more than 150 years of history. It was the British Indian governments formed ICS- Indian Civil Service. You might have heard the story of Sri Arobindo Ghosh and also could have heard of ICS exams that time. He did not succeeded in Horse riding which was an essential part of the exam. In independent India a constitutional body has been framed and was called UPSC which was responsible for conducting Civil Service Exam in short CSE which recruits for IAS, IPS, IFS and many other top level positions. This exam is termed as mother of all the exams in India.
But there was discussion about the pattern of the exam. One common Paper of General Knowledge and one Optional subject of candidates' choice. There were some cases in the court regarding the un expected advantages that some students get by choosing particular subject.
Now UPSC prelims are not there. It is termed as CSAT- Civil Service Aptitude Test. It will evaluate the aptitude of the candidate in-spite of the bookish knowledge. The new CSAT will take place in the year 2011. But there is no information about the Mains exam. This might also change very soon, until then the old format will continue.
I really appreciate the new format of the examination. Now an arts student or an engineering student, all have equal opportunity write and pass the exam. There is no added advantage of taking an option and getting confused and blaming on the optional for poor performance. In teh view of nation and the society, I believe the new exam will give more talented officers as their decision making, moral, ethical reasoning are also tested in the exam. Thanks to Manmohan Singh for this Change. But it is very bad that till now the exam format is not relieved, not even the new syllabus. Even the institutes withe big names in IAS coaching have no idea how the new paper could be. They are also not dispatching the materials. So the candidates appearing for 2011 UPSC CSAT has to face real challenges. These are not big challenges for future IAS/IPS officers right?
(Tags: UPSC History, Indian Civil Service, ICS history, Civil Service Aptitude Test, IAS, CSAT 2011)
But there was discussion about the pattern of the exam. One common Paper of General Knowledge and one Optional subject of candidates' choice. There were some cases in the court regarding the un expected advantages that some students get by choosing particular subject.
Now UPSC prelims are not there. It is termed as CSAT- Civil Service Aptitude Test. It will evaluate the aptitude of the candidate in-spite of the bookish knowledge. The new CSAT will take place in the year 2011. But there is no information about the Mains exam. This might also change very soon, until then the old format will continue.
I really appreciate the new format of the examination. Now an arts student or an engineering student, all have equal opportunity write and pass the exam. There is no added advantage of taking an option and getting confused and blaming on the optional for poor performance. In teh view of nation and the society, I believe the new exam will give more talented officers as their decision making, moral, ethical reasoning are also tested in the exam. Thanks to Manmohan Singh for this Change. But it is very bad that till now the exam format is not relieved, not even the new syllabus. Even the institutes withe big names in IAS coaching have no idea how the new paper could be. They are also not dispatching the materials. So the candidates appearing for 2011 UPSC CSAT has to face real challenges. These are not big challenges for future IAS/IPS officers right?
(Tags: UPSC History, Indian Civil Service, ICS history, Civil Service Aptitude Test, IAS, CSAT 2011)
Sunday 2 May 2010
Do you know who was your great grand father?
Do you know your grand father? Yes you know. Who was your great grand father? Some of you may answer. Who was your grand father of your grand father? You don’t know.
Do you know who is Mahatma Gandhi? Great, you know. Who is George Washington? Wah, You have global knowledge. Who was JRD Tata? Who was Mr Ford? Who is Swami Vivekanand? Are they your grand fathers? Then why you know them?
They lived for a cause. They lived their life. So they did not die. Our great grand fathers died in their childhood itself.
Now decide, should we become like our ancestors whose name we don’t know or should we achieve something and should be an example for our next generation?
You know what to do!
(This was there in a speech of Mr Chakravarthy Soolibele, available at esnips)
Do you know who is Mahatma Gandhi? Great, you know. Who is George Washington? Wah, You have global knowledge. Who was JRD Tata? Who was Mr Ford? Who is Swami Vivekanand? Are they your grand fathers? Then why you know them?
They lived for a cause. They lived their life. So they did not die. Our great grand fathers died in their childhood itself.
Now decide, should we become like our ancestors whose name we don’t know or should we achieve something and should be an example for our next generation?
You know what to do!
(This was there in a speech of Mr Chakravarthy Soolibele, available at esnips)
Saturday 1 May 2010
ICICI and HDFC banks are not Indian Banks
According to the Department of Industrial Policy and Promotion (DIPP), the two major banks in India ICICI Bank and HDFC Banks are not Indian owned but are Indian controlled. Their major part of the holding is of foreign origin rather than Indian. But the board is controlled by Indians. But when the ownership is concerned, they no more stand as Indian Banks! They are not more than any other foreign banks like RBS or HSBC when it comes to nationality of the ownership.
Both ICICI Bank and HDFC Bank have over 74 per cent foreign holding, including that of foreign banks and overseas institutional investors. The direct and indirect foreign holdings in ICICI Bank and HDFC are around 67% and 73% respectively. This makes their holding in other institution also of foreign investments. Hence they want to be recognized as Indian banks as the restriction for other investments in India. ICICI and HDFC both have other subsidiaries like life insurance and mutual fund wings where the foreign investments has some restriction and limitation. If they are recognized as foreign banks they can not hot majority stake in their subsidiaries.
If a company to be an Indian owned it has to be held more than 50% by the Indian residents or institutions. But these banks are not! Government may amend the rules to make them enjoy the foreign holdings and also to continue enjoying the benefits given to Indian Banks. But we Indians should understand that they are no more owned by us.
Data from BSE India Ltd, BSEIndia.com
Both ICICI Bank and HDFC Bank have over 74 per cent foreign holding, including that of foreign banks and overseas institutional investors. The direct and indirect foreign holdings in ICICI Bank and HDFC are around 67% and 73% respectively. This makes their holding in other institution also of foreign investments. Hence they want to be recognized as Indian banks as the restriction for other investments in India. ICICI and HDFC both have other subsidiaries like life insurance and mutual fund wings where the foreign investments has some restriction and limitation. If they are recognized as foreign banks they can not hot majority stake in their subsidiaries.
If a company to be an Indian owned it has to be held more than 50% by the Indian residents or institutions. But these banks are not! Government may amend the rules to make them enjoy the foreign holdings and also to continue enjoying the benefits given to Indian Banks. But we Indians should understand that they are no more owned by us.
| Ownership as on Mar 10 | HDFC Bank | ICICI Bank | |
| Promoter & Promoter Grp | 10,86,43,220 | - | |
| Indian | 10,86,43,220 | - | |
| Foreign | -- | -- | |
| Public | 26,79,97,650 | 79,95,50,106 | |
| Institution | 17,68,10,372 | 69,57,64,941 | |
| FII | 12,16,92,561 | 41,29,12,791 | |
| DII | 5,51,17,811 | 28,28,52,150 | |
| Non Institution | 9,11,87,278 | 10,37,85,165 | |
| Bodies Corporate | 4,15,03,470 | 2,91,01,511 |
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