TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

NIFTY FIFTY : The Market started off week on a flat-to-positive note. The Nifty
advanced 13 points to 7568 or 0.2 per cent. Asia Market were lower ahead of a series of
market-moving economic data due this week. The US market ended marginally higher on
Friday amid rebound in crued oil prices. Investor sentiment was hit by low expectations
from the earnings season that is set to kick start with IT giant Infosys on Friday. There is
very high probability that we may see choppy action going forward. At least for the next
few trading session. Domestic equity witnessed a Subdued start on Tuesday trading
session on mixed Asian Cues, On Wednesday The Nifty50 was trading at 7,799 up 90
point or 1.17 per cent. The Rally in market was largely led by surplus monsoon Forecast
by the whether department this year after two consecutive droughts. The Economic data
released too influenced the market sentiment factory output grew by 2 per cent and retail
inflation dropped to 4.83 per cent in march from 5.26 in last month. The crucial levels for
Nifty is 7880-8000 up side and 7800-7750 in down side.

BANK NIFTY : - The Bank Nifty Open positive on Monday at 15623 up by 55 points or
0.35 per cent. The Reserve Bank of India Governor Raghuram Rajan said the interest rate
are now significantly lower and will continue to be so. The Banks having retail focus are
expected post better financial results in the fourth quarter ended March 31. The Supreme
Court expressed concern over the substantial bad debt burdening the countrys banks
and asked the Reserve Bank of india what it was doing as regulator to ensure that dues
were being recovered and not piling up. It also pushed the central bank to reveal the total
amount of such non performing assets, The Bank Nifty closed in a positive note last week
and we are expecting if it is able to sustain the level of 16300 we may witness the forward
movement. The Strong Support for Bank Nifty is 16150-15900 and Resistance is 1650016460.

Monday, 18 April 2016

TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )

NIFTY
DAILY

WEEKLY

MONTHLY

R2

R1

PP

S1

S2

8105

7921

7829

7737

7553

R2

R1

PP

S1

S2

8787

8091

7743

7395

6699

R2

R1

PP

S1

S2

8789

8093

7745

7397

7003

R2

R1

PP

S1

S2

17043

16505

16236

15967

15429

R2

R1

PP

S1

S2

18746

16930

16022

15114

13298

R2

R1

PP

S1

S2

18746

16930

16022

15114

13298

BANK NIFTY
DAILY

WEEKLY

MONTHLY

MOVING AVERAGE

21 DAYS

50 DAYS

100 DAYS

200 DAYS

NIFTY

7623

7420

7576

7890

BANK NIFTY

15710

15081

15799

16830

PARABOLIC SAR

DAILY

WEEKLY

MONTHLY

NIFTY

7784

6986

7901

BANK NIFTY

16260

13590

18056

PATTERN FORMATION ( NIFTY )

Detail of Chart On the Above given chart of Nifty has applied the MACD along with Resistance Level
these are the trend identifying pattern and made the Resistance level in the Nifty daily
chart that made on the above given chart we have draw the Trend line for more than the
week period and it is not able to break the up level. However in upcoming trading session
it could break the upper level of channel line which is the strong Resistance for the
Nifty50 around 7880. Now we are expecting that if the Nifty is able to sustain the 7800
level we may witness the Bull trend of Nifty on the other hand if Nifty rebound the 78807950 level again we may see the positive rally in the index. The Strong Support for Nifty
50 is and the Resistance is 7800-7760.

PATTERN FORMATION ( BANK NIFTY )

Details of ChartOn the Above given chart of Bank Nifty has applied the MACD along with Resistance
Level these are the trend identifying pattern and made the Resistance level in the Bank
Nifty daily chart that made on the above given chart we have draw the Channel line for
more than the week period and it can able to reach the up level. However in upcoming
trading session it could break the upper level of channel line which is the strong
Resistance for the Bank Nifty around 16380-16450 . Now we are expecting that if the
Nifty is able to sustain the 16300 level we may witness the Bull trend of Bank Nifty on
the other hand if Nifty rebound the 16350-16380 level again we may see the positive rally
in the index. The Strong Support for Bank Nifty 50 is 15900-15880 and the Resistance is
16390-16450.

NSE EQUITY DAILY LEVELS

COMPANY NAME
ACC
ALBK
AMBUJACEM
ASIAN PAINT
AXISBANK
BAJAJ-AUTO
BANKBARODA
BANKINDIA
BHEL
BHARTIARTL
CIPLA
COALINDIA
DLF
DRREDDY
GAIL
GRASIM
HCLTECH
HDFC
HDFCBANK
HEROMOTOCO
HINDALCO
HINDUNILVR
ICICIBANK
ITC
INDUSIND BANK
INFY
JINDALSTEL
KOTAKBANK
LT
M&M
MRF
MARUTI
ONGC
ORIENTBANK
RCOM
RELCAPITAL
RELIANCE
RELINFRA
RPOWER
SBIN
SSLT( VEDL)
SUNPHARMA
TATAMOTORS
TATAPOWER
TATASTEEL
UNIONBANK

EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ
EQ

R2

R1

PP

S1

S2

1489
58
236
882
448
2693
155
98
139
370
521
280
124
3141
377
4163
850
1132
1093
3260
100
915
250
337
1004
1207
72
707
1263
1408
37269
3837
216
95
56
401
1079
585
53
195
97
842
419
73
341
136

1479
57
233
878
444
2632
154
97
136
360
516
278
123
3122
372
4121
843
1124
1087
3211
98
906
245
334
995
1191
70
698
1248
1370
36840
3791
215
94
54
396
1071
578
53
193
95
836
414
71
337
133

1464
56
230
872
441
2552
152
95
132
355
510
277
121
3104
366
4076
839
1108
1078
3124
96
889
239
329
984
1179
68
691
1239
1310
36570
3698
214
92
53
393
1062
575
52
192
94
830
406
70
331
131

1454
55
227
868
437
2491
151
94
129
345
505
275
120
3085
361
4034
832
1100
1072
3075
93
880
234
326
975
1163
66
682
1224
1272
36141
3652
212
91
51
388
1054
568
51
190
92
824
401
68
327
129

1439
54
224
862
434
2411
149
92
125
340
499
274
118
3067
355
3989
828
1084
1063
2988
91
863
228
321
964
1151
64
675
1215
1212
35871
3559
211
81
50
385
1045
565
49
189
91
818
393
67
331
127

TOP 15 ACHIEVERS

SR.NO

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

SCRIPT NAME

BHEL
HINDALCO INDUS.
TATA MOTORS LTD

PREV
CLOSE

112
84.90

CMP

//

% CHANGE

133

+18.43 %

96.30

+13.43 %

370

408

+10.32 %

M&M

1215

1332

+9.60 %

GAIL INDIA LTD

339

369

+8.84 %

NTPC

126

137

+8.12 %

BAJAJ AUTO LTD

2394

2582

+7.84 %

ICICI BANK

225

240

+6.67 %

TATA STEEL

312

332

+6.58 %

BHARTI AIRTEL

330

351

+6.28 %

HERO MOTOCORP

2963

3148

+6.23 %

LUPIN LIMITED

1463

1548

+5.82 %

ACC

1390

1469

+5.69 %

BANK OF BARODA

144.35

152.45

+5.61 %

WIPRO LTD.

559

584

+4.63 %

SR.NO

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TOP 15 LOOSERS

SCRIPT NAME

IPCA LAB

PREV CLOSE

555

CMP

% CHANGE

493
-11.22 %

HINDUSTAN ZINC

186

165
-11.14 %

JAYPEE INFRA

8.25

7.65

37.85

35.15

-7.27 %
MALPHA
M M
LAB

-7.13 %
RAJESH EXPORT

634

594
-6.25 %

UBL

828

797

INFOSYS

1219

1172

BEML LIMITED

975

941

INDIAN BANK

102

99

UNITED SPIRITS

2448

2377

VIJAYA BANK

31.55

31.45

IRB INFRA

223.95

223.33

SUN TV

359.70

358.90

KRUR VYSYA

472.50

472.10

BHARAT FORGE

830.20

830.05

-3.76 %
-3.68 %
-3.45 %
-2.93 %
-2.89 %
-0.32 %
-0.29 %
-0.22 %

NEXT WEEK STARS( AS PER ECHNICAL ANALYSIS PRIDICTION )

+13.67 AMBUJA CEMENT
AM 204
232
NSE
CASH
%
BUJ 18128
2.
B
20371 +12.37 3.
B T12+4.T12+5.T12+6.T12+7.
BT12+B B B
B B B B B
%
1
1
1
1
A
E
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OSC
8A0O8A0O8A0O8A0OE8A01
ACC 1240
1385 +11.68 OSCH
ACC
D2D 2D 2D 2D 2
CEM
%
H
LTD.
1R3. S1R3. S1R3. S1R3. S1R3.
NSE
CASH
:
BUY
DCBBANK
ABOVE
86.50
TGT 112 SL 81.
ENT
LTD.
2O73C2O73C2O73C2O73C2O73
8D17H8D17H8D17H8D17H8D17
A A A A A
NSE CASH : BUY HINDLCO ABOVE 98 TGT
125 SL 87.
%
L %L %L %L %
TTTT
DDDD
NSE CASH : BUY BAJAJCORP ABOVE 410 TGT 450 SL 393.
. . . .

NSE CASH : BUY CHENNPETRO ABOVE 210 TGT 224 SL 198.

NSE CASH : BUY ITD CEMENTATION ABOVE 126 TGT 138 SL 121.

-0.08 %
-0.02 %

1 1- 2 1- 3 1- 4H 1- 5
H1
I 161I 161I 161I 161I 16
N851N851N851N851N85
D6 . D6 . D6 . D6 . D6
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U33-1A
U33-1A
U33-1A
U33
LS757
4LS757
4LS757
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B293B293B293B293B29
LZ87.%LZ87.%LZ87.%LZ87.%LZ87
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I 7A
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N99-6B
N99-6B
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N99-6B
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EC743EC743EC743EC743EC74
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L 4L 4L 4L 4L
U22-5U
L22-5U
L22-5U
L22-5U
L22
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I 432N
I 432N
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878TI 878TI 878TI 878TI 87
IEI 22-9IET22-9IET22-9IET22-9IET22
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K
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94
3-9K
IP4
94
3-9K
IP4
94
3
R
N
57
30R
N
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FR22.%U
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V
S00 V
S00 V
S00 V
S00 V
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Y %Y %Y %Y %Y
S S S S S
Y Y Y Y Y
A A A A A

NSE FUTURE

NSE FUTURE : SELL CENTURYTEX FUTURE BELOW 612 TGT 598 SL 616

NSE FUTURE : SELL JETAIRWAYS FUTURE BELOW 622 TGT 612 SL 627

NSE FUTURE : SELL MCLEODRUSS FUTURE BELOW 195 TGT 190 SL 197

NSE FUTURE : BUY RECLTD FUTURE ABOVE 165 TGT 170 SL 163

NSE FUTURE : SELL SRTRANSFIN FUTURE BELOW 977.50 TGT 960 SL 684

NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK
PMO push: Commerce Ministry plans to set up dedicated team for trade talks - The
commerce department is considering setting up a specialised team to negotiate
international trade deals. The move follows a nudge from the Prime Minister's Office
amid concerns that India is not moving fast enough on its free-trade agreements and that
it could have got a better deal on some of the pacts. At a recent meeting with senior
officials from other ministries and departments, the PMO discussed the idea of building a
team comprising officers from foreign services and trade lawyers official said consensus
was reached in the issue in the meeting.

Govt may form panel to clear PSBs' bad loan mess - The Government is considering
forming a three-member committee to approve the bad loan settlement plans of public
sector banks. The move comes after the Centre's bid to clean up the bad-loan mess and
give PSBs a fresh start didn't elicit an enthusiastic response, according to source. Bankers
are not keen on a one-time loan settlement that involves taking a haircut, fearing
investigating agencies will come after them, Source. The panel will consist of an exSupreme Court judge, a former chief vigilance commissioner and a retired official of the
Comptroller & Auditor General. Banks can approach the panel with settlement proposals
for approval and execute them without fearing action against them, a top government
official told. The Non- Performing Assets of Public Sectors Banks more than doubled to
6.7 % at the End of Dec 2015 from 3.22 at the end of FY 13.

ASSOCHAM asks banks not to get swayed away by shrill in Mallya case Impressing upon the banks not to get swayed away by the shrill of public discourse
against the purported willful defaulters, apex industry body ASSOCHAM today said that
offer made by industrialist Vijaya Mallya should be considered carefully before rejecting
it, because his offer does convey his intention to repay the loans taken from the public
sector lenders. With so much shrill on the wilful defaulters, the banks and their principal
shareholder, the Government of India, should take a dispassionate view of the case rather
than being influenced by the media reports which at times get exaggerated in the rightor-wrong debate, ASSOCHAM Secretary General D S Rawat said in a statement. He
said, the main concerns for the banks consortium should be recovery of its assets which
have become NPAs and all genuine efforts must be made towards that end.

India Inc set to post best EBIDTA growth in six quarters: CRISIL Research CRISIL Research, Indias largest Independent and Integrated research house, expects
India Inc to report EBITDA growth of ~7% for the quarter ended March 31, 2016. That
will mark the fastest growth in six quarters, driven by higher gross margins derived from
lower commodity prices. Revenue growth would, however, remain lacklustre at ~2%
because of low commodity prices, weak investment demand, patchy demand recovery
and low pricing power because of competition.The analysis is based on 600 companies
that account for ~70% of the market capitalisation of the National Stock Exchange.

Government ability to prioritize the Reforms like GST will aid economic Recovery :
Arun Jaitley - India stands amid the most crucial phase of structural reforms since the
signifcant reforms undertaken 25 years ago. Economic revival is likely given that the
government is pressing ahead with its reform agenda, says Finance Minister Arun Jaitley
in an interview. The upcoming second half of the budget session of Parliament would see
the government magnifying emphasis on reforms such as goods and services tax
legislation, bankruptcy code, and amendments to the Securitisation and Reconstruction of
Financial Assets and Enforcement of Security Interest Act and prevention of corruption
law, he said. FM Jaitealy clarifies that GST should be done via consensus since its
implementation would entail everyone involvement including congress , Government as
per the Report.

IMD forecasts well-distributed rains, kindling hopes of economic revival - The

weather office has forecast surplus, well-distributed monsoon rainfall this year after two
consecutive droughts, cheering farmers and kindling hopes that the surge in rural demand
after the expected good harvest will propel economic growth. The promising outlook
from the country's most respected weather forecaster came along with encouraging data
showing that consumer inflation had fallen below 5% while industrial output had bounced
back after contracting for three months. This is expected to boost the demand Economic
and Business sentiments after a long phase of farm distress Distress and overall demand
slump. The India Meteorological Department said the monsoon will deliver 6% surplus
rain in its fabled four-month journey from the Kerala coast to the lofty mountains in
Kashmir.

FM: Indian economy estimated to register 7.6% growth in FY 2015-16 - The Finance
Minister Arun Jaitley said that Indian economy is estimated to register 7.6% growth in
FY 2015-16, notwithstanding contraction of global exports and two consecutive years of
shortfall in monsoon. Jaitley said that amid weaker outlook across the globe, Indias

experience of strong economic growth, comfortable price situation, low current account
deficit, and adherence to fiscal recovery path have projected it as an outpost of
opportunity for global investors. The Finance Minister was speaking on the theme of
Steering India towards Growth , at an event organized by Carnegie Endowment for
International Peace in Washington D.C. on the very first day of his US trip.

India plans to mobilize an investment of Rs. 1 lakh crore for ports: PM - Prime
Minister Narendra Modi has inaugurated the maiden Maritime India Summit in Mumbai,
asserting his government's resolve to restore India's position in global maritime sector.
"We Indians are inheritors of a glorious maritime heritage and world's first dock was built
at Lothal in Gujarat, during the Harappan civilization, Building upon our glorious
maritime tradition, we are working hard to achieve new heights in this area" he said.
Stressing on the importance of maritime transport, Prime Minister Narendra Modi said
that everyone should make sure that our lifestyle, transport systems and trading behaviour
do not spoil the ecology of the oceans. He also said, the architect of the Indian
Constitution Dr.Babasaheb Ambedkar, on whose 125th birth anniversary, the Maritime
India Summit was being inaugurated, was also the architect of the water and navigation
policy in India.

TOP ECONOMY NEWS

Bullish on India's growth prospects, International Finance Corporation has said offshore
rupee bonds can provide a new source of funding for Indian companies and they stand to
benefit in the longer term from comparative pricing landscape.

Stepping up its energy ties with Iran, India has lined up $20 billion as investment in oil
and gas as well as petrochemical and fertiliser projects in the Persian Gulf country subject
to provision of concessional rights.

Government is looking at a scheme for encouraging its employees to invest part of their
7th Pay Commission salary hike in a fund which would be used for recapitalisation of
state-owned banks.

Telangana government has invited Chinese infrastructure company Gezhoba, which was
associated with the construction of the famous Three Gorges dam in its country, to take
part in the construction of the irrigation projects in the state.

Growth in developing East Asia and Pacific has remained resilient and is expected to
ease only modestly during 2016-18, according to a new World Bank report. This outlook
is subject to elevated risks and countries should continue to prioritize monetary and fiscal
policies that reduce vulnerabilities and strengthen credibility, while deepening structural
reforms.

Foreign direct investment in the country surged to $42 bn during April-February in 201516, according to RBI data.

Fitch has maintained its GDP growth forecast for India for the fiscal year ending March
2016 at 7.5 per cent. Growth is expected to gradually accelerate to 7.7 per cent in FY17
and 7.9 per cent in FY18.

The Government will keep regulating cotton seed prices and will not allow companies
like the US biotechnology major Monsanto to exploit farmers.

The Income Tax department has activated the Aadhaar and net banking-based e-filing
verification system for taxpayers to file the first appeal before a tax officer, on similar
lines of online ITR filing.

Reserve Bank Governor Raghuram Rajan said the central bank holds around Rs.8 trillion
of government bonds with it.

With the share of states in central taxes seeing a quantum jump, Finance Minister Arun
Jaitley advised them to stick to fiscal discipline, spend on infrastructure and development
activities and to use Aadhaar for transferring benefits to people.

The government is making every effort to bring down the cost of production of urea and
exploring the option of setting up a plant in Iran using cheaper gas, Union Minister Nitin
Gadkari said.

CPI inflation eased to 4.83% in March from 5.2% in February.

Piyush Goyal, Minister of State for Power, Coal and New & Renewable Energy launched
the Discovery of Efficient Electricity Price e-Reverse Auction portal through which
distribution utilities can procure short-term power.

Retirement fund body EPFO settled 11.8 million claims in 2015-16, out of which 96%
claims were settled within 20 days.

The India Meteorological Department has projected an above normal monsoon for 2016,
spelling good news for farmers and policymakers battling two years of consecutive
drought.

Owing

to the slowdown in China, low crude oil prices and overall sluggish trend in

advanced economies, the International Monetary Fund has cut its global growth forecast
at 3.2% in 2016. However, the Fund forecasts Indian economy to grow at the fastest pace
of 7.25% in 2016.

Moody's Investors Service says that lower remittances from Gulf Cooperation Council
economies, which have been hit hard by the slump in oil prices, will reduce the benefits
of cheaper oil imports for several Asia Pacific countries. Generally, weaker remittances
will immediately impact the recipient countries' credit profiles via their balance of
payment positions. A prolonged fall would also hurt economic growth, given the
importance of remittances to household incomes.

The

Finance Minister Jaitley held a bilateral meeting with United States Trade

Representative Ambassador Mr Michael Froman. The Finance Minister affirmed that the
sustained engagement and rapidly increasing trade and investment partnership between
India and the US are key elements of the bilateral engagement between the two countries
and India looks forward to strengthening and deepening this economic engagement. The
Finance Minister emphasized.

TOP CORPORATE NEWS Bajaj Auto and its Austrian partner KTM AG are extending their partnership to
Indonesia for selling Duke and RC brands of motorcycles of up to 400cc.

ITC Limited said it has adequate cigarette stocks available in the market despite shutting
all its manufacturing in the wake of the government rule that requires larger pictorial
warnings on packets.

Cairn India Ltd. has full indemnity from its former promoter Cairn Energy of UK
against levy of any tax for past deeds, including the two-year old Rs 204.95 billion
retrospective tax demand, its new owner Anil Agarwal has said.

Tata Power said its Singapore-based arm TPIPL has signed an agreement with KS Orka
Renewables Pte for sale of its 50 per cent stake in OTP Geothermal Pte for USD 30
million.

Sun Pharmaceutical Industries has received approval from the US health regulator for
its non-steroid drug BromSite used to treat inflammation and prevent pain in patients
undergoing contract Surgery.

Nokia has bagged a contract from Idea Cellular to roll out 4G in three circles and also to
expand the infrastructure for 3G and 2G networks.

Great Eastern Shipping Company Ltd has signed a contract to buy a Japan-built
second hand vessel, which will be delivered in the current quarter.

Orchid Pharma has received the Establishment Inspection Report from the US health
regulator based on the successful inspection closure for its API manufacturing facility in
Tamil Nadu Kancheepuram district.

The wind energy company arm of Suzlon Group has announced it has bagged a maiden
order of 105 MW from Greenko Group to be executed in Andhra Pradesh.

Gayatri Projects bags Rs. 3.40 billion road project in Nagaland.

L&T Hydrocarbon Engineering , a wholly-owned subsidiary of Larson and Toubro India

has bagged two orders worth USD 370 million from Petroleum Development Oman.

Jewellery exporter and retailer Rajesh Exports it has won a Rs.11.88 billion export order
from the United Arab Emirates.

NTPC Limited has supplied 100 MW of un-requisitioned surplus from its Dadri Stage-1
plant to Gujarat Urja Vitran Nigam.

Technology giant IBM has partnered Reliance Communications to provide a complete

portfolio of cloud services to customers.

Hero MotoCorp to begin production at Chittoor plant by Dec 2018.

Aditya Birla Nuvo said it has completed an additional 23% stake sale in its life insurance
firm Birla Sun Life Insurance Company to its Canadian joint venture partner Sun Life
Financial for Rs 16.64 billion.

Adani Enterprises has marked its entry into the wind energy segment by placing the
company first order for wind turbine generators with Inox Wind Ltd.

TTK Prestige Limited , through its wholly-owned subsidiary TTK British Holdings, has
acquired Silampos UK for an undisclosed sum.

Mahindra & Mahindra Farm Equipment Sector, launched new range of tractor Yuvo in
Madhya Pradesh.

Pharmaceutical major, Dr Reddy's Laboratories Limited, announced the schedule for

buyback of equity shares from public for about Rs. 15.69 billion beginning April 18,
2016.

Tata Steel, has signed an agreement to sell the loss-making 4.5 mt long-product
Scunthorpe steel plant in Britain to UK-based investment firm Greybull Capital for a
nominal consideration.

Hindustan Zinc Limited , a Vedanta group company, paid the government Rs. 29.95
billion as dividend on account of its 29.54% residual stake.

Two Japanese consortiums have bid for state-owned gas utility GAIL India Ltd's USD 7
billion tender for hiring nine newly built ships for ferrying LNG from the US.

Coal India Limited cuts prices of top grade coal by up to 40% on global cues.

Tata Chemicals Limited said its fertiliser plant at Haldia will be shut for about five
weeks in September-October due to interruption of ammonia supply.

Infrastructure firm JP Associates has pulled out of the project to set up an electronic chip
plant that entailed an investment of about Rs340bn.

 TOP BANKING AND FINANCIAL NEWS OF THE WEEK

As the employee unions oppose stake sale in IDBI Bank, the Government said it is
consulting all stakeholders as part of "transformation" of the state-owned lender.

Federal Bank tied up with Phillip Capital , a subsidiary of the Singapore headquartered
Phillip Capital group, for managing the NRI Portfolio Investment Scheme.

The government is considering forming a three-member committee to approve the bad

loan settlement plans of public sector banks, thus providing management the comfort that
their actions won't be questioned by vigilance agencies later.

The

newly constituted Banks Board Bureau , headed by former CAG Vinod Rai, on

Friday held its first meeting that was attended by RBI Governor Raghuram Rajan and
Union Minister of State for Finance Jayant Sinha, among Others, The Bureau has been
constituted to recommend the government on selection of heads of Public sector banks
and financial Institutions and help lenders in developing strategies and capital raising
plan.

India's largest carrier Bharti Airtel received its payment bank license that is had applied
for in partnership with Kotak Mahindra Bank, a move that will help the companies take
Indian government's financial inclusion plans to the next level.

State-run Vijaya Bank, announced a reduction in term deposit interest rates by 25 basis
points.

Axis Bank Limited the, Third largest Private Sector Bank, Today announced a cut in its
lending rate by 0.15 per cent to bring it par with its large rivals.

The

Supreme Court expressed concern over the "substantial" bad debt burdening the

country's banks and asked the Reserve Bank of India what it was doing as regulator to
ensure that dues were being recovered and not piling up. It also pushed the central bank to
reveal the total amount of such nonperforming assets but relented when its lawyer said
such information may lead to a loss of confidence in the country's banks.

Uday Kotak targets HDFC and ICICI Bank in saving rate Gamble Uday Kotak has set a
scorching pace for everyone in the banking industry in the past two years. Kotak
Mahindra Bank's deposits, assets and profits have surged. But in a declining interest
rate scenario with credit and deposit growth stuttering, the banking industry is responding
by cutting lending, savings and deposit rates hoping to protect margins and boost lending.

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