• Banks start raising PLRs
    • PLR – Prime Lending Rate. This is the rate at which a bank typically intends to lend money to its borrowers. The cue for this rate is derived from the policy rates announced by the RBI. Usually SBI’s PLR is the lowest because of its sheer size of operations. PLRs of various banks in the country range from 12.5% to 13.5% as of now.
    • More than 70% of loans are given at sub-PLR rates — a negotiated rate between the borrower and the lender which is below bank’s PLR. As a majority of the loans disbursed by banks are at a floating rate linked to the PLR rate, existing corporates and retail borrowers will have to pay a higher interest rate on their loans. In case of SBI, about 15% of loans are at a fixed rate while 85% is on a floating rate basis.
  • Our top companies by net sales and profits
    • It is RIL, Tata Steel, Hindalco, ICICI Bank and Tata Motors. Look at the figures.
  • Want to know how trading of crude in futures markets globally is adversely impacting the price situation in crude?
    • I have not come across a better explanation than this one found in today’s debate. It is from TNR Rao, former Petroleum Secretary of our country. Very good one.
    • Going by the logic explained, stricter margin requirements in our commodity markets also should keep the unrealistic price rise in our commodities markets under check.
  • We may not be reading or noting about subprime crisis any longer as we have already learnt the basics from an academic point of view. But look at the havoc it is still wreaking!
    • US banks may need to raise $65 billion of additional capital to cope with mounting losses from a global credit crisis that will not peak until 2009. As of May, Citigroup had raised $42 billion, including capital injections from sovereign wealth fund Government of Singapore Investment Corporation. The bank has also suffered more than $46 billion of write-downs and credit losses in the last three quarters.
  • What is the fuel bill of our Indian Railways?
    • It is reportedly about Rs. 8,000 crore per annum.
  • EURO 2008
    • Germany beat Turkey 3-2 in the semi-final at Basel, Switzerland. They will meet either Spain or Russia in finals on Sunday at Vienna.
  • Wimbledon
    • Watched Wimbledon? What a surprise! Sharapova sent packing by an unknown Russian - Alla Kudryavtseva, fellow Russian and ranked 154 in the world rankings. She was beaten 6-2 6-4. Kudryavtseva displayed lot of composure and looked like she had nothing to lose in the play. It was Maria who was under tremendous pressure right from the beginning.
    • Take a look at how the other seeded players have fared in their initial rounds.
    • How many more surprises are there in store for us?