While Balrampur Chini results shone with 3X increase in profits, the weekend weather was mostly sunny but Monday brings new uncertainty as political fortunes and that of the region as a whole depend on the same old business partners, GS signing new local funds in Beijing and JPM hanging on to its global business as its 60 million USc customers spurn home equity for the 4th year running. With the new debt business from India restricted to a few infra companies, the settin g up of a Power distco rating system will come as a relief for REC and PFC among others, doing the unfancied job of lending to power projects and distcos owned by bankrupt states. 

In that scenario, the continuing strengthening of India's Banking sector continues to be a great white hope. Notable and appreciated though is SBI's attempt to get ALM on the new deposit regime using funds matching the new MSF to invite better deposits from customers. When the bank hiked its deposits by 50 bps, it upped the 6 -12 week deposits by 225 basis points to 6.25% still 200 bp less than what it would be charged if it approached the government. There are at least 5 stories here we migth pursue, but i am afraid i am not ready to hand over the baton to our business media from mint and ET yet and the trading room beckons... 

Posted via email from The investment blog on Post