Riding up the down escalator

The markets had begun to firm up by the beginning of last week, even before the latest round of exit polls put the NDA back in the reckoning...

The markets had begun to firm up by the beginning of last week, even before the latest round of exit polls put the NDA back in the reckoning. Ten days back the markets had fallen in a sharp response to some exit polls that had predicted a hung Parliament. Though worries on that account still persist, but the market seems to have shaken off the doom prophets at least for now and is looking at the growth story again.

The market bounce back does not mean that markets may not fall after the exit polls on Monday. Political uncertainly is poison to markets worldwide and India is no different. The current volatility is a signal for the amateur investor to stay on the sidelines while the speculators and punters spin the wheel. Those with cash, look to buy at a downturn, or look at mutual funds for lower risk options, the value picks may take you up the down escalator.

Personal credit ratings here soon

We wrote about the lack of individual credit rating in India that allows good borrowers to get money at a cheaper rate and defaulters pay more in financially mature markets like the US. Credit Information Bureau (India) Ltd (CIBIL), India’s first credit bureau, has begun its consumer bureau operation last Wednesday. This means that you may be one of the 55 lakh customers in Cibil’s data base and your money life of the past 36 months is now going to be shared between 13 top banks in India. This data will tell the banks if a person has taken a credit card from one bank, run up a huge amount, defaulted, and then changed cards. Now with Cibil in the picture, the customer’s personal details and actions will be shared by the member banks and getting the next card may be a problem.

On the positive side, if you always pay your credit card bills on time, have never made late payments on your home, car or any other loan account and have never gone below the minimum balance, chances are that the next loan you take will cost you less, simply because your personal creditworthiness is higher. Good for the virtuous, bad for the crooks. Makes sense to get your books in order now.

Dominic A LeBlanc, the Minister of Public Safety, said, "The promotion of violence is never acceptable in Canada." (PTI Photo/ File)

Khalistani outfit SFJ threatens to ‘siege’ Indian consulate in Canada

India1 hr ago

Khalistani outfit Sikhs For Justice has called for a "siege" on the Indian consulate in Canada on September 18, accusing them of running a spy network to target Khalistan supporters. The group has also threatened the Indian consulates in Canada and released a poster with a target on the face of the Indian High Commissioner.

View all shorts

Live Blog