- Wealth PMS (50L+)
The Slack group at Capital Mind Premium has been extremely active and here is a brief summary of some of the interesting things discussed there in the last few days.
Fifteen percent of American households have either zero or negative net wealth, according to a survey conducted by the Federal Reserve Bank of New York, potentially affecting their ability to save for major purchases and restricting their access to credit. (Link)
The former chief technology officer for BT Managed Security Solutions said that hackers can do three things with data: steal it, modify it, and prevent the owner from getting it. The last two type of hacks could become extremely powerful, as we enter a more connected world. (Link)
Computer will start trading three stocks, including Tesla. (Link)
After a few start-ups revoked job offers and some deferred their joining dates, IITs are making minor changes in their placement policies to ensure students don’t face a similar situation this year. (Link)
Emerging market central banks are shackled to their U.S. counterparts, with local long-term interest rates held hostage to the Federal Reserve and the monetary policies of other advanced economies. (Link)
Coal India, NMDC, MOIL, Nalco & BEL have started the process. (Link)
Infosys will build and maintain the technology network crucial for implementing GST system across the country for five years. (Link)
Sowing reports from across India’s pulses growing regions have indicated a bumper area under the crop tipping domestic and international prices that have corrected over the last 15 days setting a downward trend in prices.
A July 26th forecast by National Australia Bank predicted a fall in chick peas and lentils from their peak of $1,200/tonne to $700/tonne by September 2017. (Link)
A tax overhaul will have welcome, if unpredictable, consequences. (Link)
Once again, India is in danger of sabotaging its own efforts to raise foreign investment to China-like levels. The latest salvo in this undeclared, self-defeating war is the government’s reported decision to block Tata Sons from paying what arbitrators say the company owes to a former partner, the Japanese company NTT DoCoMo. (Link)
The farmers had never heard of crowdfunding before, but a local non-profit group suggested the site and helped them write a proposal that explained how a canal would help feed local families. Within weeks, they had raised 300,000 rupees ($4,490) from about 100 people. They donated an equal amount of their own money and built the storage duct. Monsoon rains arrived a few weeks ago, filling the new 8-kilometer long, 10-meter wide waterway that runs through fields where farmers will soon plant soybeans, sugarcane and cereal grains. (Link)
Enforcement Directorate on Monday said it has arrested S Dilli Raj and L Sivaramakrishnan, current and former chief financial officers (CFOs) of First Leasing Co in a bank fraud case.
Bharat Financial Inclusion Ltd (formerly SKS Microfinance Ltd) on Monday informed the BSE that its president S Dilli Raj had been arrested by ED officials as part of its ongoing investigation in a complaint filed by IDBI Bank Ltd against First Leasing Company of India. Bharat Financial Inclusion also clarified that the arrest of Dilli Raj had nothing to do with it. (Link)
In an error that may not go down well with shareholders, south based gold loan company Manappuram Finance had notified to pass five resolutions but got only four resolutions printed on the proxy voting form. More, the company also changed the nature of a resolution in a corrigendum latter issued in the newspaper. The shareholder meeting of the company was held on Monday. (Link)
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