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Top 5 Forex Trading Strategies

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Follow the basic things and earn amazing returns in the forex market

Being successful as a forex trader is not a child’s play,but by understanding the changes in the market it becomes very easy to handle the situations wisely. In order to make money one must understand the complexity of the market and following the suggestion of the technical analyst one can win the market. Forex trading is a form of foreign exchange and is a huge trading world where people can always make money. The exchange rates owe a huge impact on the returns as there is no fixed rate due to regular changes. The market is not very much stable and earning handsome returns is not very easy for people who invest without noticing the changes.


How to make money in forex trading isnot easy and people interested inwinning the market need tofollow a specific strategy.As there are different factors which owe a huge impact on the currency trading it is a must to seek the guidance of an expert whoguides the forex traders in the right manner. The volatility of the market makestraders lose a lot with negligence and gaining profitsis easyfor one who follow the market without any fail.Though the forex trading market is not much volatile there are changes whichare to be handled with a great care as this is the only way to manage the risks.Withstanding the tough situations ofthe marketfollowing the specific strategy supports a lot in earningamazing returns and making moneywith short term or long-term investments becomes easy.

1.       Maintain simplicity

Keep the trading simple byinvesting in the right areaas gaining quality returns is possible only with theactual trading strategy. The forex trading strategy which is simple supports investors to avoid risks and enjoy a unique trading style with handsome returns.By noticing the fluctuation in the market, one can take quick decisions and even earn better results.Maintaining the investment low,the chance of losing the investments is very less and with reliable approach trading becomes a great fun.

2.       Currency pairing

One needs tounderstand the currency pairingand thenchoose the currency.Forex market is just the trading market thatsupports in exchanging the foreign currencies. The exact pair of currencyhelps inwinning the trade properly andby choosing the right pair the risk of losing theinvestments reduces to a great extent.Trading is never simple and with a systematic trading planand the right currency pairing one can easily win the returns.Learning currency pairing and choosing the right pair supports alot in managing the riskand balancethe trading.

3.       Don’t overthink

Avoid overthinking as the forex trading requires patience.Increasing the chance of gaining profits is possible with the investors who choose the techniqueconsidering the type of investment. The short-term investment varies from that of the longtermoneandachievingpositive resultsis possible by watching the market closely.

4.       Charts

The investor who works according to the charts can easily predict the future price movements. The expert analyst considers the happenings and then suggest the right way to step with specific time frames. Preventing the fall of returns is possible with the support of the charts which are designed by the person who understands the fundamentals of the economics.Along with this one need to follow the trend while investing.In order to make a safe move every trader need to know the happenings and then earn profits.

5.       An ideal way

Avoid complex method as the complicated terms confuse the investor and are not good enough to earn returns. No single method allows people to stay successful in the market and earning returns with consistent rules help in winning market. People who trade with discipline never lose in making nice profits and can even earn returns as a beginner.

Following the unique strategy, one can win the market and make money within specific time frames as the effective trading strategies stand as a powerful tool offering quality returns.Earning highly effective returns is easy for the individual who depend on the efficient forex trading strategies that are suggested by the expert analysts.So, seek the support of the guidance of an analyst and earn handsome returns as the expert deliver genuine information and the right strategy suitable for your need.

FinMin asks businesses to register on e-way bill platform ahead of Apr 1 rollout

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With just three days left for the e-way bill roll out, the government has asked businesses and transporters to enrol on the dedicated platform as only around 11 lakh entities have registered so far, officials said today.

Businesses would be required to present the electronic way (e-way) bill to a GST inspector (if asked) for inter-state transportation of goods worth over Rs 50,000 through road, railways, airways and vessels.

Finance Secretary Hasmukh Adhia said the company handling the backbone of the new indirect tax regime, GST Network, is much better prepared to roll out the new system from April 1.

"But I'm not too sure whether traders, dealers and transporters are still ready. I would like to appeal to them to register themselves on the e-way bill portal early as possible; they should not then tell us that we didn't inform them," Adhia said.

GSTN CEO Prakash Kumar said, so far 11 lakh businesses and transporters have registered on the e-way bill platform and most of the registrations are likely to happen at the last minute.

This compares to 1.05 crore registered businesses under the GST and about 70 lakh filing returns.

The e-way bill provision of the goods and services tax (GST) was first introduced on February 1 but its implementation was put on hold after the system developed glitches in generating permits. With several states also starting to generate intra-state e-way bills on the portal, the system developed a snag.

The Finance Ministry had then asked GSTN to develop a fool-proof system before the re-launch of the e-way bill.

The GST Council, earlier this month, decided on a staggered rollout of the e-way bill starting with inter-state from April 1 and intra-state from April 15.

The e-way bill is being touted as an anti-evasion measure and would help boost tax collections by clamping down on trade that currently happens on cash basis.

Speaking at the Foundation Day of GSTN, Adhia said e-way bill for intra-state movement of goods would be launched after 2 weeks of inter-state roll out.

"We will announce the schedule at least 3 days in advance, but not immediately because we want to observe how the e-way bill portal functions for inter-state movement of goods. After that we will try to bring it for intra-state (movement of goods)," Adhia said.

GSTN Chairman Ajay Bhushan Pandey said that the e-way bill system has been designed and developed by National Informatics Centre (NIC); and he is confident that the system would be able to cater to the load.

After the February 1 snag, the e-way system was upgraded to handle 75 lakh inter-state e-way bills daily.

"Whenever you roll out such a system, there could be some issues in the initial phases. So based on our experience, this time around extensive testing has been done. Assurance has been given by NIC that this time the system should work," Pandey said.

Soon, Banks to Compulsorily Declare NPAs as Wilful Default or Fraud

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In an effort to tighten the noose around loan defaulters, ministry of finance has written to all banks to start bifurcating non-performing assets as either wilful default or fraud. 

Banks have also been asked to prepare a list of loan defaulters for “naming and shaming” in public.

“We have written to all public sector banks to start naming and shaming all loan defaulters by preparing a list and putting them out on public platforms. The banks also will have to start stating what kind of non-performing asset (NPA) it has encountered. 

Simply stating an NPA won’t work anymore. The banks will have to come out in public about whether it is a fraud or a wilful default,” said a top official of finance ministry on condition of anonymity.

A wilful default is a situation where the borrower has the required capacity to pay but decides not to and a fraud is when the borrower siphons off his/her money to other mode of parking say shell companies and displays a false inability to pay.

Finance ministry has also issued guidelines that banks now have to setup stressed assets management vehicle in relatively bigger branches that have chances of a default happening. The group will consist of four to five bank officials who will take care of defaults that have already happened and keeping a check on volatile loans. 

“These branches will be upgraded with the latest technology linking data points,” added the official.

In addition to this, the banks will have to setup two different departments, one for pre-sanction of loan disbursal and the other for post-sanction details.

The official informed News18 that earlier loan disbursal rules were not adhered to. “Banks used to give away without security in case of big and influential borrowers. This will stop going forward,” said the official close to the development.

Earlier, the finance ministry mandated provision of passport details of borrowers taking loans of Rs 50 crore and more to ensure a swift action in case of fraud and prevent fraudsters from fleeing the country.

The Cabinet recently approved the Fugitive Economic Offenders Bill after Nirav Modi and his uncle Mehul Choksi allegedly defrauded state-owned Punjab National Bank (PNB) of Rs 12,700 crore and left the country, refusing to cooperate with law enforcement agencies.

The proposed fugitive law aims to impound and sell assets of Nirav Modi-type escapees with a view to quickly recover dues. It also will apply to defaulters who have an outstanding of Rs 100 crore or more and have escaped from the country.

As part of drive to clean the banking system, the Finance Ministry last week had directed public sector banks (PSBs) to probe all NPA accounts of over Rs 50 crore for possible fraud and accordingly report the cases to CBI.

Besides, the ministry had asked banks to monitor loans above Rs 250 crore and red flags whenever the original covenants of the loans are violated. This was spelt out as part of 6-point-reform measures announced for PSBs in January.

Stock market-Research report-22-3-2018

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Topic :- Time:5.15 PM

ZINC Trading View:

ZINC is trading at 210.70. If it breaks and trade below 210.50 level then expect some further decline in it and if it manages to trade and sustain above 211.20 level then some upmove can be seen in it.


Topic :- Nifty Closing Note

Sensex ends 130 pts lower, Nifty a tad above 10100; PSU banks, realty fall:

Benchmark indices fell on Thursday, dragged by banking and financial stocks, ahead of the expiry of derivatives contracts and after the US Federal Reserve raised interest rates while retaining its view for three hikes this year.

The S&P BSE Sensex ended at 33,006, down 130 points while the broader Nifty50 index settled at 10,115, down 41 points.

Among sectoral indices, the Nifty PSU Bank index was trading over 2% lower led by a fall in the shares of State Bank of India and Syndicate Bank. The Nifty Realty index, too, slipped nearly 1% lower due to a fall in shares of Indiabulls Real Estate and Oberoi Realty.

In its first policy meeting under new Fed chief Jerome Powell, the US central bank indicated that inflation should finally move higher after years below its 2% target and that the economy had recently gained momentum.

The Fed also raised the estimated longer-term neutral rate, the level at which monetary policy neither boosts nor slows the economy, a touch, in a sign the current gradual rate hike cycle could go on longer than previously thought.

Globally, the US dollar was on the defensive on Thursday after posting its largest loss in two months when the Fed turned out to be less hawkish than anticipated.

Worries about a potential trade war between China and the United States kept gains in Asian shares in check. MSCIs broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent, with South Koreas Kospi hitting six-week high, while Japans Nikkei gained 0.2 per cent in early trade.


Topic :- Time:3.15 PM

Nifty spot close above 10130 will result in some recovery in coming trading sessions and close below above mentioned level will mean some profit booking in the market.


Topic :- Time:2.30 PM

GOLD Trading View:

GOLD is trading at 30573. If it manages to trade and sustain above 30605 level then expect some upmove in it and if it breaks and trade below 30540 level then some softness can be seen in it.


Topic :- Time:2.00 PM

Midhani IPO subscribed 27% on Day 2

The initial public offering (IPO) of mini-ratna Mishra Dhatu Nigam (Midhani) was subscribed 27 per cent till 11 am on Thursday, the second day of the bidding process. 

Investors bid for 1,32,07,800 shares as against the total issue size of 4,87,08,400, NSE data showed. 

The IPO, which will close on March 23, consists entirely of an offer for sale (OFS) of 4.87 crore shares (26 per cent stake) by the government. Of the total issue, 3.8 per cent, that is 18,73,400 shares, shall b .. 

Retail investors and the employees will be offered a discount of Rs 3 per share. 

The price band has been fixed at Rs 87-90 with a face value of Rs 10 each. The minimum lot size has been set at 150. 

SBI Capital Markets and IDBI Capital Markets & Securities are the book running lead managers of the issue while Alankit Assignments is the registrar. 

Midhani is one of the leading manufacturers of special steels, superalloys and the only manufacturer of titanium alloys in India. Established in 1973, it has an aim to achieve self-reliance in research, development and supply of critical alloys and products of national security and strategic importance. 


Topic :- Time:2.00 PM

Nifty is still trading on a weaker note. Nifty spot if breaks and trade below 10120 level then expect some further decline in the market and if it manages to trade and sustain above 10150 level only then some upmove can follow.


Topic :- Time:1.40 PM

CRUDEOIL Trading View:

CRUDEOIL is trading at 4247. If it breaks and trade below 4245 level then expect some quick decline in it and if it manages to trade and sustain above 4260 level then some upmove can be seen in it.


Topic :- Time:1.10 PM

Nifty is trading much near to its intraday support now at 10143. If it breaks and trade below 10140 level then expect some further decline in the market and if it manages to trade and sustain above 10155-10160 levels then some upmove can follow in the Nifty.


Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 444.45. If it manages to trade and sustain above 445.20 level then expect some quick upmove in it and if it breaks and trade below 444.20 level then some softness can be seen in the Nifty.


Topic :- Time:12.20 PM

SC directs RCom to maintain status quo with regards to Rs 25K cr asset sale:

The Supreme Court has directed Reliance Communications (RCom) to maintain status quo with respect to its Rs 25,000 crore assets sale, reports CNBC-TV18. The court will hear on April 5 a plea by State Bank of India (SBI) and RCom with regards to lifting its stay on the assets sale. Earlier too, the Bombay High Court had upheld a National Company Law Tribunal (NCLT) order staying RComs asset sale.


Topic :- Time:12.05 PM

Nifty spot is trading at 10146 and is in red zone now after positive start. Nifty spot if breaks and trade below 10140 level then further more decline is expected in the market and if it manages to trade and sustain above 10165 level then some upmove can be seen.


Topic :- Time:11.30 AM

News Wrap Up:

1. Indices trade in range, Nifty below 10,200; Pharma cos gain

2. US Fed raises key interest rate by 0.25%, sees two more hikes in 2018

3. Facebook made mistakes in Cambridge Analytica case, admits Zuckerberg

4. Essar Steel set for rebid as lenders reject ArcelorMittal , Numetal offers

5. Sebi may impose trading curbs on cos undergoing insolvency proceedings

6. Farmer suicides decline 21% in 2016, government informs Parliament

7. PNB blames concurrent auditor for not flagging off SWIFT transactions

8. Sun Pharma gains on USFDA nod for psoriasis drug Ilumya

9. HCC falls 15% on reports of subsidiary Lavasa Corp heading for bankruptcy

10. La Opala RG trades ex-bonus today; stock falls 12%


Topic :- Time:11.00 AM

After flat opening nifty gained some momentum however its losing its earlier gains now. Nifty spot if breaks and trade below 10160 level then expect further decline in the market and if it manages to trade and sustain above 10180 level then some upmove can be seen.


Topic :- Nifty Opening Note

Indian Stock Market Trading View For 22 March,2018:

Nifty to trade volatile and is likely to follow global cues.

Nifty spot if manages to trade and sustain above 10180 level then expect some upmove and if it breaks and trade below 10100 level then expect some profit booking in the share market. Please note this is just opening view and should not be considered as the view for the whole day.

Stock Market-Research report-21-3-2018

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Topic :- Share Market Closing Note

Sensex, Nifty rose on Wednesday, with financial stocks accounting for nearly half the gains, while investors awaited the outcome of the US Federal Reserve policy meet later in the day.

The Federal Reserve is expected to raise interest rates at its first policy meeting under Chairman Jerome Powell and may signal more hikes are coming in response to tax cuts and government spending that could further stoke a robust US economy.

The US central bank projected late last year that it would lift rates three times in 2018, but some investors believe the fiscal stimulus and recent hints of inflation pressures will push policymakers to add an additional increase to the mix.

In the global markets, a hush settled over financial markets on Wednesday as investors waited to hear how often the Federal Reserve might hike interest rates this year, while the currencies of exporting nations were rattled by fears of a full-blown trade war.

MSCIs broadest index of Asia-Pacific shares outside Japan was barely changed after four straight days of losses. Japans Nikkei was closed for a local holiday.


Topic :- Time:3.05 PM

Nifty spot close above 10160 will result in some more pull back in coming trading session and if it closes below above mentioned level then some sluggish movement is expected. Avoid open positions for tomorrow.


Topic :- Time:2.30 PM

NATURALGAS Trading View:

NATURALGAS is trading at 175.20. If it manages to trade and sustain above 175.60 level then expect further upmove in it and below 174.50 level some profit booking can be seen in it.


Topic :- Time:2.00 PM

Nifty spot if breaks and trade below 10155 level then further decline can be seen in the market and if it manages to trade and sustain above 10180 level then some upmove can be seen in it.


Topic :- Time:1.30 PM

CRUDEOIL Trading View:

CRUDEOIL is trading at 4166. It will find its resistance at 4205. If it holds below 4205 level then it is likely to show some profit booking and is expected to test 4120-4100 levels quite soon. Sell on every rise till it holds below 4205 is recommended in it.


Topic :- Time:1.20 PM

Indias Cotton area may fall 12% as pests scare farmers:

ndia, the worlds top producer of Cotton, likely to witness a 12% decline in planting area in the 2018/19 crop year as infestation by the pink bollworm has slashed farmers incomes and prompted them to choose other crops, industry officials said.

The reduction in planting area could cut into export supply from India and further bolster global cotton prices, which earlier this month hit their highest since June 2014.

We are expecting lower sowing in Maharashtra and Telangana due to pink bollworm attacks. Many farmers in these states are likely to switch to other crops like soybeans, the Cotton Association of India (CAI) said.

Infestations slashed crop yields and forced farmers to increase pesticide costs in Maharashtra and Telangana in the south, both key cotton producers.

The area under cotton could fall to 10.8 million hectares in the 2018/19 marketing season that starts at the beginning of October, down from 12.26 million hectares in the current year, CAI estimated.


Topic :- Time:1.00 PM

Nifty spot if manages to trade and sustain above 10180 level then expect some upmove and if it breaks and trade below 10160 level then some profit booking can be seen in it.


Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trasding at 439.60. If it breaks and trade below 438.80 level then expect some further decline in it and if it manages to trade and sustain above 440.60 level then some upmove can follow in it.


Topic :- Time:12.20 PM

PNB fraud: Rs 2,000 cr routed back into country via hawala, say ED sources

The Enforcement Directorate has evidence suggesting that Gitanjali Gems and Nirav Modi companies routed Rs 2,000 crore back into the country through the hawala route, a senior official who did not want to be named, told Moneycontrol.

Gitanjali Gems and Nirav Modi companies are at the centre of a Rs 13,000 crore-plus scam in which Punjab National Bank was defrauded through unauthorised  letters of understanding (LoUs).

The two jewellery firms had raised money from overseas branches of Indian banks, on the basis of the unauthorised LoUs.

The ED says that a part of that money was then brought back into the country.

The agency has also found evidence of inter-state money transfers by one of the biggest hawala operators in the country. This operator was very active in a Mumbai-based steel company whose promoters had siphoned off money, and is being investigated by the ED.

We are investigating all aspects in this case and the hawala transfer is one such area. Our leads so far will help us further investigate this, the above-mentioned official told Moneycontrol.

The agency is also investigating 17 overseas companies which received funds from the fraudulent LoUs issued by Punjab National Bank. Of these companies, five were mentioned in the second FIR of the Central Bureau of Investigation.


Topic :- Time:12.05 PM

Nifty is sliding from its day high. Nifty spot immediate support is at 10180 if it breaks and trades below it then it can slide further down towards 10140 level and if it holds then more upmove is on cards.


Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex up over 300 pts, Nifty above 10,200; PSU banks gain

2. Resolution professional alleges fraud by Binani Cement promoters

3. 600 railway stations may bear the stamp of Indias top architects soon

4. LIC bails out Rs 42-billion Hindustan Aeronautics IPO

5. Nirav Modi scam: Diamond traders now courting firms with long-term credit

6. ICICI Bank raises Rs 4000 crore AT-I capital

7. Sugar stocks gain as Govt scraps export duty

8. MCX plans spot commodity trading in industrial & precious metals and energy

9. Sebi bars Remac Realty, 5 directors for illegal fund raising schemes

10. Global Markets: Caution creeps into Asian trading ahead of Fed decision


Topic :- Time:10.40 AM

After positive opening nifty is still trading in positive zone. Nifty spot if manages to trade and sustain above 10220 level then further more upmove is expected and below 10200 level some softness can be seen. Currently nifty is trading at 10216.


Topic :- Nifty Opening Note

Indian Stock Market Trading View For 21 March,2018:

Positive opening expected. Nifty to trade volatile and is expected to follow global cues. Trade as per market trend.

Nifty spot if manages to trade and sustain above 10160 level then expect some upmove and if it breaks and trade below 10060 level then some further decline can be seen in the market. Please note this is just opening view and should not be considered as the view for the whole day.

PSUs, state-run lenders should focus on fraud prevention

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Public sector enterprises and state-run lenders need to focus on strengthening fraud prevention mechanism and risk management policies in the wake of the recent banking fraud, SCOPE Chairman Ved Prakash said today.

He noted that corrective measures are being taken by the government to plug the loopholes.

"Sometimes it becomes very difficult to stop a fraud by an individual or by a group of people. I think that is one major area where all PSUs and banks have to focus on fraud prevention and risk management policy," the chairman of the apex body of PSEs said at a press conference here.

Prakash said the role and responsibility of independent directors have been considerably enhanced to prevent bank frauds to some extent.

When asked about the proposed merger of trading firms MMTC and STC, Prakash, who is also the MMTC CMD said: "We do not have any definite information from the government on this." However, he added that pooling of resources of the two firms shall definitely reduce the cost and increase efficiency.

"Definitely it (merger) is a move in the right direction but when it happens, how it happens that the government will be working out," he said.

Sharing views on the dividend policy for PSUs framed by the government, Prakash said the government wants PSUs having sizeable profits to invest in infrastructure projects, undertake buy-back of shares or invest in government schemes so that the surplus funds can be put to good use.

Regarding ownership and corporate governance, he said government's initiative involving merger of various entities like insurance companies, banks or similar PSUs and list them on "our exchange is a very good step".

Prakash said merger of entities and their resources increases their efficiency and reduces the cost. Moreover, the bigger company post merger can grow and survive in the global onslaught of competition which may not be possible otherwise.

He said various initiatives have been taken on corporate governance and autonomy, and more powers given to PSU Boards so that they need not refer every decision to the government.

Prakash was here to launch the SCOPE YouTube channel.

"The basic objective of the channel is to highlight the performance of PSUs and also provide( a platform) to the respective PSUs by projecting their image, vision, strategy and overall achievements," he said.

Prakash said the channel would showcase innovative practices being followed in some PSUs so that they can be emulated by other state-owned firms for development and growth of the country's public sector.

"The channel would bring out various informative videos about PSEs. It will highlight the performance, initiatives of the public sector, national economy, achievement and contribution of members.

IRDAI to move SC on SAT order against its official

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The insurance regulator is likely to contest an unprecedented appellate order seeking the ouster of one its members in a corruption case.

The decision comes following a recent order by the Securities Appellate Tribunal seeking removal of PJ Joseph, member, non-life, IRDAI, who had passed an order pertaining to the UK-based insurance brokerage, Atkins Special Risks.

The appellate body said that the order passed by Joseph amounts to ‘aiding and abetting corruption in the insurance business’ by the regulator 'that cannot be tolerated.'

A senior official associated with the development said that the regulatory body’s new chairman is likely to be appointed by the end of March, after which "we will move the highest court in April so that a decision could be out before the SC closes for summer vacations in mid-May."

Once, the Supreme Court closes for summer vacations, it will only resume on July 2.

The case

From 2002 to 2012, Atkins had provided international re-insurance cover to Jagson International, an off-shore drilling company.  Atkins has alleged, in its submission to SAT, that Jagson and its officials demanded a cut from the commission it received from 2010. Atkin says it declined. Post this, the UK company alleges, the reinsurance business was given to Marsh India Insurance Brokers.

The appellant alleged that detailed investigation by a globally reputed investigating firm showed some alleged kickbacks given by Marsh to Jagdish Gupta, Chairman of Jagson. It also filed a complaint with IRDAI (which was heard by P J Joseph), and the case was disposed of.

However, Marsh in a statement has denied any wrongdoing. It has also pointed out that SAT has not taken any view of the case.

SAT in its judgement stated that it has not expressed any opinion on the merits of the complaint filed by the appellant.

However, the appellate body asked IRDAI to pass a fresh order on a case involving alleged financial irregularities in awarding insurance broker contract to a broking firm. It also directed IRDAI to entrust the matter to a ‘competent officer other than P J Joseph, Member (non-life)’.

There have also been demands to have an insurance expert on the SAT to look into the sectors matters. Currently, it does not have any.

Ownership of banks should not matter, its all about ethics, says SBI chief

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Post the disclosure of the Nirav Modi scam, there have been heated debates within the banking sector on whether the government should privatise public sector banks (PSB). While many industry experts are in favour of privatisation of PSBs, like Uday Kotak who has said that there is no need for so many state-run banks, State Bank of India chief, Rajnish Kumar says otherwise.

Talking on the subject of ownership and whether privatisation of banks would help solve the problem of non performing assets (NPAs) at News18 Network's Rising India Summit, he had said that ownership of a bank should not matter – whether private or public – and that it is all about ethics.

Kumar claimed that the masses have a lot to thank public sector banks for. "Firstly, when you drive on a highway, enter an airport or feel good about the power situation, do not forget the bank. Let us understand the importance of public sector banks," said Kumar.

In an earlier interview to Economic Times, the SBI chairman had said that state-run banks play a definite role for the betterment of society which the private sector would not be willing to do. “There is a huge socio-economic agenda which only public sector banks cater to,’’ said Kumar.

According to him, what people need to keep in mind when talking about privatisation is that it is the government ownership that is saving the day. If it were a private bank, the government would have to step in to bail it out, and this is applicable across the world.

“People who speak about privatisation are missing the point. I am not advocating private or public sector banks or which model is better. All I am saying is that whatever the structure, there will be issues,” he noted.

PNB scam case: Govt questions why it should tell Supreme Court about status of probe

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New Delhi: The central government on Friday resisted monitoring of investigation by the Supreme Court in the Punjab National Bank (PNB) loan fraud case allegedly involving Nirav Modi and Mehul Choksi, saying there should not be any "parallel inquiry".

Attorney General KK Venugopal opposed a suggestion mooted by the top court that the government should submit a stays report on investigation in a sealed cover envelope.

Venugopal told a bench headed by Chief Justice of India Dipak Misra that there is no justification to call upon the investigating agencies to show what they are doing.

"Is there any justification for anyone to come to this court by filing a PIL and say the Court should be informed about the status of investigation? There cannot be a parallel inquiry and parallel investigation by the courts," said the AG.

He added such orders were being passed frequently by courts now but this course will bring the morale down of the investigating agencies.

"In principle what is the justification for any court, not only this court, to call upon the government and seek such reports as if a parallel inquiry in going on? Why should a petition be entertained at all unless there is something wrong to be shown by the petitioner? I oppose such plea on the ground of principle," Venugopal told the bench, also comprising AM Khanwilkar and DY Chandrachud.

But advocate JP Dhanda, appearing for the PIL, claimed that his petition had not asked for monitoring of the investigation by the court at all.

The court finally adjourned the matter to April 9 after it took umbrage at a statement by Dhanda that AG has perhaps not gone through his petition.

"We won't hear it today now. Nobody can ask Attorney General, who is a constitutional office bearer whether he has read a petition or not. Meet law with law. Such statements are unacceptable to us," remarked the bench, deferring the matter.

PIL by advocate Vineet Dhanda has sought direction to the Centre to ensure PNB scam accused Nirav Modi is brought back to India within two months, apart from the issuance of fresh guidelines on grant of big loans. 

Juxtaposing poor farmers' inability to repay agricultural loans with the recent Rs 11,300 crore PNB fraud, the PIL has sought intervention of the Supreme Court to protect the people's rights.

Wholesale inflation eases to 7-month low of 2.48% in February

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Inflation based on wholesale prices eased to a seven-month low of 2.48 per cent in February on cheaper food articles, including vegetables.

On the basis of Wholesale Price Index (WPI), inflation was 2.84 per cent in January and 5.51 per cent in February 2017.

WPI inflation at 2.48 per cent in February is the lowest in seven months. The previous low level was recorded in July at 1.88 per cent.

According to a government data released today, inflation in food articles slowed to 0.88 per cent in February from 3 per cent in the preceding month.

Inflation in vegetables softened with annual inflation at 15.26 per cent as against 40.77 per cent in January.

While the rate of price rise in onion slowed, it increased in the case of another kitchen essential, potato.

Inflation in pulses remained in the negative zone at (-)24.51 per cent and so in cereals and wheat. WPI inflation in protein rich items like egg, fish and meat too was in the negative zone.

As per the data, inflation in 'fuel and power' segment too eased to 3.81 per cent in February compared to 4.08 per cent in the previous month.

The data also showed that the rate of price rise in manufactured items was higher compared to January.

As per the data of Central Statistics Office (CSO), retail inflation measured in term of Consumer Price Index had dropped to a four-month low of 4.44 per cent in February on cheaper food articles and lower cost for fuel.

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