Standard & Poor’s (S&P) downgraded the government debt of 9 countries out of the 17 countries of the euro zone.
The ratings of France, Austria, Italy, Spain, Cyprus, Portugal, Malta, Slovakia and Slovenia were downgraded.
This move seems to have increased the difficulty of finding a solution to the debt crisis.
Germany, the largest economy of them has been spared.
The list is given below.
With a view to attract more foreign funds and strengthen the Indian capital market, the government has announced a new scheme under which foreigners will be able to invest directly in the Indian equity market.
Expected to be operationalised from January 15, the new scheme allows a foreign individual, a foreign pension fund or even a foreign trust to invest directly in the equity market. These investors will be called ‘Qualified Foreign Investors’ (QFIs).
Citing that foreign investors are already allowed direct access to Indian mutual fund schemes, the Finance Ministry said that its latest decision is merely ‘the next logical step’ in the same direction.
“This has been done in order to widen the class of investors, attract more foreign funds, reduce market volatility and deepen the Indian capital market,” said the Finance Ministry in a statement.
Currently, foreign individuals and foreign institutional investors (FIIs) can invest in the equity market only through sub-accounts with registered FIIs whereas unregistered foreign individuals and institutions invest through participatory notes (PNs).
The Reserve Bank will shortly issue Rs 500 notes which will have the rupee symbol. The Rs 500 notes will be of the Mahatma Gandhi-2005 Series bearing the signature of Reserve Bank of India (RBI) Governor D Subbarao and with the year of printing mentioned on the back of the banknote, the apex bank said in a statement.
The design of the notes to be issued is similar in all respects to the existing Rs 500 in Mahatma Gandhi Series-2005 issued earlier, except for the rupee symbol.
However, all the banknotes in the denomination of Rs 500 issued by the RBI in the past will continue to be legal tender.
Last month, the RBI had announced that it will soon introduce notes of Rs 1,000, Rs 100 and Rs 10 denomination featuring the rupee symbol.
The rupee skidded to an all-time low today. It is believed to have happened due to the buying by the oil refineries and other companies.
At 10:40 am, the rupee was at 52.58/59 per dollar, after touching an all-time low of 52.73, and 0.8 per cent weaker than its previous close of 52.1550/1650.
This move shall bring cheers from the exporters, but it will be problematic for the importers.
India being a net importer this can have serious implications for the Indian economy.
With reference to SEBI circular SEBI/DNPD/CIR-26/2004/07/16 dated July 16, 2004 and subsequent approval received from SEBI, Futures and Options (F&O) contracts on CNX PSE Index and CNX Infrastructure Index shall be made available for trading in the F&O segment with effect from November 25, 2011.
