Rupee may fall to 65 by December, Sensex expected to surprise on the upside

MUMBAI: The gloom surrounding the Indian economy may deepen in the next three months with the rupee expected to weaken and inflation projected to stay high, an ET poll of top fund managers and brokers shows. The rupee may possibly touch 65 to the US dollar by December while inflation is expected to stay at elevated levels of 9% (retail) and 6% (wholesale). The US Federal Reserve could start slowing its bond purchases by the end of the year, a majority of participants said, and not September as is widely believed. The Sensex is expected to hold its current position and may even surprise on the upside, the poll reveals. Nearly 45% of the fund managers and brokers expect the rupee to trade between 62 and 65 to the dollar this...

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Action against ICICI Bank, HDFC Bank, Axis on basis of RBI report: Finmin

The government today said action would be taken against ICICI Bank, HDFC Bank and Axis Bank on the basis of an RBI audit report which has detected certain "aberrations", a month after the private banks were accused of money laundering by an online news portal. "An audit report has come and now the banks would probably be asked for their versions...We don't need to recommend anything; we discussed the issue and everybody will do whatever one is supposed to do after that. The RBI would be doing what they are required to do," Banking Secretary Rajiv Takru told reporters outside the Mint Road office of RBI. "I think it would be safe to say that there are actionable points where RBI would need to take some action and consequently government would also need to address them," he said....

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The Marketing Relevance Imperative

NIGEL: You're on ten on your guitar...where can you go from there? Where? MARTY: I don't know.... NIGEL: Nowhere. Exactly. What we do is if we need that extra...push over the cliff...you know what we do? MARTY: Put it up to eleven. NIGEL: Eleven. Exactly. One louder. -Conversation between filmmaker Marty DiBergi and guitarist Nigel Tufnel, This Is Spinal Tap In study after study, consumers have stressed that, regardless of the channel, they’d rather not see ads.     - A 2004 study by Forrester found that when people watch pre-recorded television shows, they skip an average of 92 percent of the commercials    - Most Internet users block pop-up ads, screen for adware, and safeguard...

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