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RBI Cuts SLR By 50 Basis Points; Increases Liquidity

In a bid to increase the liquidity with the banks, RBI Governor Raghuram Rajan slashed the statutory liquidity ratio (SLR) by 50 basis points in the bi-monthly monetary policy review. As per expectation, Rajan kept the other rates steady as nothing much was happening on the inflation and growth front. In fact after a repo rate cut of 25 basis points on January 15, it was widely mooted that the RBI will keep the policy repo rate unchanged at 7.75 per cent and it fared like that only. In fact during the January 15 cut itself the focus had been shift ed to fiscal steps to be taken by the government in the crucial Union Budget. While announcing the bi-monthly review, Rajan projected the GDP growth for FY16 at 6.5 per cent and pointed towards various risks being broadly balanced during the current scenario.

Rajan seems quite convinced that by this cut of 50 basis point in SLR to 21.5 per cent, banks would start lending in a big way by slashing rates as liquidity would increase in their system. “To get that lending they will have to be more competitive, which means they will have to cut base rate. I am hopeful it is a matter of time before the banks judge that they should pass it on,” Rajan quipped aft er the review. “Many have been relatively quick to cut their deposit rates, but not so quick to cut their lending rates. I presume some are hoping they can get the spread for a little more time to repair their banks’ balance-sheets,” he added while talking to the reporters. RBI has predicted that inflation would remain around the target level of 6 per cent by January 2016 and the risk of inflation going up is not that high.

HBJ Capital Bags ‘Asia’s Most Promising Brand and Leadership award’ by WCRC and KPMG India

New Delhi January 2015-HBJ capital, a Next Generation Financial Services Provider in India, has been recognized as ‘Asia’s Most Promising Brand and Mr Kumar Harendra Founder & CEO has been won an award as Asia’s Most Promising Leader Award’ for the year 2014 by World Consulting and Research Corporation (WCRC). The Process Advisors & Evaluators were KPMG India.The project involves brands and leaders involving the most promising nations of Asia for business namely Singapore, Malaysia, Philippines, Taiwan, Thailand, Indonesia, India, Sri Lanka, Bangladesh, Dubai UAE, Saudi Arabia, Qatar, Oman, Hong Kong, Vietnam to name a few. A total of 100 + brands feature across 50 industry categories to form the Most Promising Brands of Asia.

About the Awards: ASIA’S MOST PROMISING BRANDS AND LEADERS 2014-15- New Delhi. Asia’s Most Promising Brands 2014 is the largest multi-platform brand credibility globally involving the most promising brands and leaders from various Asian countries. It’s the only brand project in print, portal and electronic medium. Asia’s Most Promising Brands and Leaders 2nd edition was launched during the Asian Brand and Leadership Summit 2014 in New Delhi.

Speaking on the occasion, Mr. Kumar Harendra, CEO and Founder, HBJ Capital said, “We aspire to be one of the world’s great specialist in market research, driven by commitment to our core philosophies and values. Equity market research & advisory is a niche segment under financial services. For next 3 years we are confident of achieving 300% sustained year on year growth in the top line of HBJ Capital. At present we are 500 plus strong company with expected FY15 turnover of 30 Cr. By mid 2015 we will be 1000 strong workforce with expected turnover for FY16 will be 100 Cr. We are under exponential growth phase wherein we are witnessing 300% growth rate since last 3 years which is likely to continue. We are looking to be a multi-billion dollar company by year 2017 with 3000 strong workforce and INR 720 Cr annual turnover.”