EnthuCC
TF Premier
Is there any link of it to access.
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IndusInd Bank shares fall 20% after Q2 profit drop, asset quality deterioration
- Thread starter SSV
- Start date
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- Tags
- indusind indusind bank
They are sending it by push notifications onto your mobile using their app.. pdf file is being downloaded. Just now I got it
Here it is ..
EnthuCC
TF Premier
These kinds of notifications they are pushing...
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This was expected after, public reaction -
May be we"ll see some short covering of open position also in the near future.
Exewhyzee
TF Premier
The message of RBI was for depositors but shareholders seem to have got excited. Depositors know that RBI can't be trusted. They don't give a damn.
That was first 30 minutes report.. at EOD the share price hardly moved up...only. 75% up as against 3% earlier in the session..
Even shareholders know about this crap...
RBI says " जानकार बनिए सतर्क रहिए।"
EnthuCC
TF Premier
Why do you say that?
Please elaborate.
dvader
TF Ace
Comments like these make me facepalm hard. Trusting the central bank is not a choice. If you can't trust the Central Bank (of any country for that matter), your money is not worth the paper it's printed on, and not just for one bank (Indusind in this case), the money would be worthless in every bank. So you either except that your money is worthless and burn it or trust your Central Bank.
The central bank has to give a damn. They don't have a choice either just like us.
Eg. Look at Zimbabwe and Lebanon, Once the central bank lost trust, their money became worthless. They (Zim) use other currencies (US $, Australian $, etc) in their economy..
sunit123
TF Ace
Whose failure is fiasco of indusind? Who is responsible? Ans is Central Bank as they are watchdog...How come they are not aware that indusind has put money in derivatives.
We always compare ourself with worst and feel good about it
We should compare with those who are above/better than us so that we can grow and move forward.
dvader
TF Ace
That was not a comparison. It's a case study in what happens when a central bank fails. I can't give you an example of a successful state with a failed central bank. I hope you get the logic.
And RBI is on PAR and in some cases better than most central banks in the world, granted it has more powers but looking at results it's way better than the US Federal Reserve and Japanese Central Banks in many scenarios. I don't think there are better central banks than those too.
Japanese Central Bank is world renowned for what they have been doing for the last 30-35 years.
US Fed has found itself powerless in the 15 years of quantitative easing and couldn't raise interest rates when it wanted to. Powerless against the bank failure of 2023. And I don't mean small bank or credit union (like cooperative bank in India) failures.
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sunit123
TF Ace
What is your opinion on 16 lakh crore write off?
dvader
TF Ace
As opposed to what? carrying them on books for eternity (this is already over a decade)?? RBI is not a bank it's a central bank, Writing off bad loans is a regulatory measure and RBI is the most conservative in loan write-offs.
Given your recommendation of learning from countries bigger than India. Let's talk USA, The FED doesn't have much control over what is written off, banks tend to get their hands off bad debt as soon as possible. Should we start writing off more debt???
Is the write-off good? No of course not but the issue is unless we adopt the pre-1990 Japanese Central Bank policies (This was the time when the Japanese economy became bigger than USA's). At the time Japanese Central Bank had the authority on loan sanctions. Japanese economy boomed like nothing else. Until JCB had multiple Harvard graduates who thought that JCB should become more like the US Fed.
Every Central bank post-1990 (Except the Middle East) works like the US Fed and there will be periodic write-offs like these.
No legislator of any party in 21st century is gonna let any central bank in any country have a say in loan sanctions. That's just hard reality.
Exewhyzee
TF Premier
Handling of demonetisation, Yes bank Failure, PMC fraud to name a few. RBI comes into action when it's already late hence can't be trusted. Better to park money elsewhere till things settle down.
