Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (9794)	11/25/1999 9:25:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Deutsche Bank buys 2.4% stake in NSDL from Unit Trust nsdl.co.in Anurag Joshi Mumbai, Nov 25: Deutsche Bank on Thursday said that it has bought a 2.4 per cent equity stake in the National Securities Depository Ltd (NSDL) from the Unit Trust of India (UTI). This acquisition comes close on the heels of the bank becoming the first foreign custodian to transact a securities lending in India. This was also the first involving a foreign institutional investor (FII) lending securities under the Securities and Exchange Board of India's (Sebi) securities lending scheme. "We were delighted to have had an opportunity to become a partner in the leading depository of India," Deustche Bank's regional country head (India, Pakistan and Sri Lanka), Javad Shirazi, said, adding: "This investment reflects our commitment to our custody business in India and is an important milestone in its development,". "Our decision to take an equity stake in the NSDL reflects the vital role of depositories in the development of India's securities custody business," Deutsche Bank's head of custody businessmanagement and product planning (India, Pakistan, Sri Lanka and Indonesia), Venkatesh Roddam, said. Deutsche Bank is already registered with the NSDL and the Central Depository Services (India) Ltd (CDSL) to facilitate trading and settlement of shares for its custody clients on both the Bombay Stock Exchange and the National Stock Exchanges. NSDL is the biggest depository in the country with more than 109 depository participants. Deutsche Bank offers the full range of custody and value-added services to foreign institutional investors, financial institutions, overseas corporate bodies, mutual funds and major corporates in the country. Other services offered by the custody division include securities lending, fund accounting and fund administration services. Following the acquisition of Bankers Trust, the bank is now one of the top three players in the custody business in the Asia-Pacific region. Deutsche Bank is the leading bank in the Euro-region and one of the largest banks in the world by assets.(FE)

To: Mohan Marette who wrote (9794)	11/25/1999 10:51:00 PM
From: JPR	Respond to of 12475

Mohan: Pakistan will always be a BURR on the side of India. If it disintegrates, we got that many more BURRS. A unified democratic and prosperous pakistan is in the best interests of Pakistan and India. The idea of Akand Bharat is a faulty one at best. Its dimensions are unlike the German unification and very problematical. Their economy is in shambles. Why take on the problem and make it worse for the rest of India.

To: Mohan Marette who wrote (9794)	11/25/1999 10:55:00 PM
From: JPR	Read Replies (1) \| Respond to of 12475

Kalam gets Cabinet minister rank NEW DELHI: Scientific adviser to defence minister and secretary, Defence Research Development Organisation (DRDO) A P J Abdul Kalam, was on Wednesday appointed principal scientific adviser to the government with the rank of a cabinet minister. The government's gesture to a man honoured with the Bharat Ratna two years ago, Kalam's elevation opens avenues for infusion of fresh blood in DRDO and the defence scientific establishment at a time when there have been slippages on a number of ambitious programmes. Fernandes seeks more allocation NEW DELHI: Defence minister George Fernandes has advocated raising the defence allocation to three per cent of gross domestic product (GDP) from the present level of 2.3 per cent. If the suggestion is accepted, it would imply an increase of about Rs 15,000 crore. The magnitude of this jump can be gauged from the fact that the total budget of the Army alone for the current year is about Rs 25,000 crore. The 2.3 per cent level is the lowest in the last two decades.