|
Dear
Members
Markets have shown a downward
trend last week and closed at 17,868 points as the RBI increased
interest rates to control inflation. However, sustained buying by
foreign banks, revival of monsoon rains and latest data showing
easing of food inflation have prevented sharp decline.
RBI has raised its key short
term interest rates for the 4th time this year to curb
surging inflation at its Quarter 1 monetary policy on
27th July. FIIs have bought shares worth a net Rs. 8,100
crs. this month, absorbing selling by domestic institutional
investors. Domestic funds have dumped shares worth a net Rs. 4,777
crs. in June, 2010.
Circulars have been released
across BFSI segment. The key among them are “Mandatory requirement
of Permanent Account Number – PAN” & “Additional mode of
payment through applications supported by blocked amount
(hereinafter referred to as ASBA) in Mutual Funds “ released by
SEBI. Request you all to access “Circulars Corner” on the home page
in RAIN website for all circulars released.
On RAIN front, we are working
on putting together the trip to SA and look forward to your active
confirmation.
With best regards
V. Ganesh
Chairman – RAIN
www.rainnet.org
|
