DSIJ Mindshare

The general perception about these frauds and defaults is that these could have happened only with the active connivance between the bank officials and promoters of businesses. This perception holds true in cases such as Nirav Modi’s, but the corruption of bank officials and dishonesty of the promoters are not the only reasons why such mega frauds and defaults happen.

The decision of India’s largest public sector bank SBI to hike the interest rate on retail deposits, followed by an increase in MCLR rate by up to 20 basis points may be a precursor to the upward movement of interest rates going forward.

The Bill defines a ‘fugitive economic offender’ as any individual against whom a warrant for arrest in relation to a scheduled offence has been issued by any court in India and who leaves or has left India so as to avoid criminal prosecution and refuses to return to India to face criminal prosecution.

The stocks that are likely to witness significant movement on the bourses on February 21, 2018 are Sunflag Iron And Steel Company Limited, Eicher Motors Limited, Matrimony.Com Limited, Steel Strips Wheels Limited and Dilip Buildcon Limited. 

Dividend is nothing but the distribution of gains and profits. All mutual fund houses/ AMC’s (Asset management company) calculate the dividends for each of their schemes on the basis of the distributable surplus.