Jai Corp – The Video Game Starts once again

Stock : Jai Corp

CMP : 380

Targets : 450 and 600

 

Jai corp is one of the Buzz word of 2007 and here is a story about it have a look at The Jai Corp Story before

tracking this intresting stock This stock mostly have a gap up opening in bull markets and gap down opening

in bear markets. Circuits are its favorite word

 

So How to Trade Jai Corp?

 

Stock showing close just below 20 day EMA(Rs 399.2) . Stocks Highly oversold and trying to panic the investors. So a necessary pullback should happen with in 1-2 days to start its bull run once again. So Carefully watch this stock and try to grab it at the end of the day.Also try to grab this stock if it opens in upper circuit. And dont forget to reject this stock if it closes below 20day EMA.

in upper circuit. And dont forget to reject this stock if it closes below 20day EMA.

 

The Message is clear buy above 400 is the mantra

Anti-Money Laundering Laws in India

Money laundering could be defined as the conversion of money that is illegally obtained, in order to make it appear from the genuine sources. Initially, the term “money laundering” originated from the mafia ownership of Laundromats in the United States, who earned money from extortion, gambling and from several other crimes and showed that money as a legitimate income. However, in India, Money laundering became a major matter of concern in the 1980’s.
There are several anti-laundering laws in the nation, which are made stricter in order to prevent money laundering in the nation.
India and Money Laundering
Dollars extracted from drug trade are reinvested throughout the world in different trades each year. The increasing profit generated from this criminal activity has created impulsion for the governments to take necessary legal actions against such activities. As per the recent statistics, the estimated amount of money laundered globally in one year is about 2 to 5% of the global GDP.
During the year 2011-2012, almost 35 stock brokers were probed by SEBI (Securities and Exchange Board of India) for the lapses related to money laundering, which in turn led to actions taken by the stock exchanges as well as the depositories against 300 market entities for violations as long as Anti Money Laundering (AML) rules are concerned.

The contemporary situation of money laundering in India can also be evaluated through the Basel AML Index, prepared by the Basel Institute on Governance, Switzerland. As per the index score, each country is evaluated on the basis of AML laws, financial regulations, and political disclosures and alike. The overall score ranges from 0 to 10, while 0 indicates least risk, getting 10 on the score card means high risk. The index report made over 140 countries, India is ranked as 93rd with a score of almost 6.05, which indicates towards the fact that India is extremely vulnerable to money laundering.

Measures to check Money Laundering in the nation
Constant efforts are being made by the Indian agencies and regulators to eliminate money laundering from the roots. The Financial Intelligence Unit –India (FIU) is responsible for managing Anti Money Laundering ecosystem, has contributed in coordinating and strengthening efforts in which could effectively stop money laundering and several such related crimes in the nation.
India, after being admitted as the 34th country member of the Financial Action Task Force (FATF), has helped the country’s enforcement agencies to exchange information. In addition, the membership to FATF has also helped Indian Financial Services to identify those areas that require strict supervision.
The Anti Money Laundering Laws
The prevention of the Money Laundering (Amendment) Bill came into being in the year 2011. The bill seeks to modify the principle act to update the provisions in order to strictly prohibit money laundering in the nation. The amendments were made by the Standing Committee on Finance for the better implementation of the law.
With this amendments made, it is likely to believe that the Anti Money Laundering laws would conform global standards. The crucial amendments made to the principal Act include:
1)Activities such as acquisition, possession, concealment should also be included in order to expand the definition of offence of money laundering.
2)Introduction of the concept of Reporting entity
3)The upper limit of fine in the principal law was 5 Lakhs, which has been removed
4)Special courts can release property in case of decision by a foreign court
5)Prosecution is no more for limited to the individuals but is extended to the companies
6)The monetary threshold that is applied to the offence of money laundering is being removed

Year 2013 Performance in Nutshell – Infographic

Year 2013 is about to end by tomorrow. So which assest class among Index,Commodities,Forex performed good for this year? Below infographic shows the year to date performance of various asset classes ( World Indices, International Commodities and Currency Pairs).

[source :finviz]
Key Facts from the infographic
1)Nikkei is the top performer amount various asset classes gained 54.9 and corn among the worst performer and lost 39.1 among the asset classes
2)Most of the world stock market indices(Nikkei, Russel2000, Nasdaq100,S&P500) are the Top Index performers
3)Natural Gas is the top performing commodity with 29.4% YTD returns
4)Both Gold and Silver lost in double digit percentage terms. This year is the first year since 1997 that gold will finish with a double-digit drop. lost 28.2% and 34.1 respectively.
5)Among the forex pairs EURUSD is the top performer with 4.3% and USDJPY lost nearly 17.7% and the worst forex pair performer among the most traded currency pairs.
6)10 year bond and 30 year Bond are the losers for the year 2013 with negative returns of 7.3 and 12.9% returns respectively

Top 10 New Banking License Applicants in India

The proposal by the RBI and the Indian finance ministry to accept new banking license applications had shown some hue and cry from firms all over India. But it soon subsided as the new stringent regulations set up by RBI were scrutinized by them. A total of 26 applications were accepted by the RBI before the deadline and many of them were from surprisingly unknown firms like Value Industries, SREI Infrastructure Finance, and Janalakshmi Financial Services etc.
Why there is less number of new Banking License applicants?
• The need to keep 23% statutory liquidity ratio or SLR right from the day 1 of starting the bank.
RBI aims to keep the safety net around it by keeping the banks as close to it by the 23% compulsory government bonds. Another necessity is the regulation to keep a portion of the deposits of the bank with the RBI. This 3% cash reserve ratio or CRR from the day 1 makes another hole in the pockets of the banks.
On the whole, a total of 26% of the total capital will at all times be unavailable for the banks to utilize.
To add to the woes, the new banks will have to take into account the priority sector loans that will be hard to achieve. Of course, the reasons why new banking licenses are incorporated is associated with the need to expand the idea of financial inclusion ( Bank account for every Indian). But forcing the new banking applicants to keep up with these strict regulation right from the day of the starting seems to be primary reason for the lesser number of applications.
Of the 26 new applications received, how many will get the license can never ever be predicted. In 1993 10 licenses were given, in 2003 only 2. So let us look at a list of the top 10 firms that may hold the chance to win the opportunity.
Top 10 new Banking License applicants
1. Aditya Birla Financial Services Private (ABFSPL)

Aditya Birla Financial Services Private (ABFSPL) of Sri Kumaramangalam Birla is one of the top applicants to the open a new bank. With enough experience as an NBFC and with their insurance tie up (Birla Sun Life Insurance), Aditya Birla Financial Services Private holds a good chance to make it big in the Indian banking. Barring the controversy regarding the position of Sri Kumaramangalam Birla on the RBI board as a conflict of interest, Aditya Birla Financial Services Private may cross the line.
2. Bajaj Finance

Bajaj Finserv easily seems to be the frontrunner for the banking license with a good foothold in the Indian market. While many of the finance firms were unwilling to convert their finance companies to banks fearing the RBI regulations, Bajaj Finance accepted the norms. Backed by a well established finance house, they have the high chances to cross the line.
3. Edelweiss Financial Services (EDEL.NS)

The less talked about Finance company based in Mumbai surprised many by the new banking license application Some time back, Edelweiss Financial Services had joined hand with Tokio Marine to setup an insurance tie up called Edelweiss Tokio which has been creating some interest in the insurance segment. Further a tie up with Catholic Syrian Bank as the Bancassurance partner launched them. . Chairman and CEO Rashesh Shah was clear cut in his plans to make it to the banking sector and as the black horse of the new banking license applicants, Edelweiss Financial Services may cross the line.
4. India Post

Converting every post office in India, to a bank branch will be a logical step to the financial inclusion. And most importantly, the post offices already have various savings schemes within their limits already to showcase their financial experience. India post really needs this boost to get themselves back to their glory. Perhaps India Post is the perfect banking license applicant who can keep up with the regulations of priority sector lending and financial incision properly.
5. Reliance Capital

Backed by Sri Anil Dhirubhai Ambani as the chairman, Reliance Capital had forayed into every finance sector to meet up with the demands of the market. Now with the new banking licenses being granted, Reliance Capital will be keeping their heads high to cross the line banking on their credibility and experience.
6. Muthoot Finance

The NBFC that has over-dependence on the gold loans sector has applied for the license too. The success of the Muthoot finance had been fast and no wonder the banking license aspirations had bitten them too.
With Sri M G George Muthoot as the chairman of the NBFC and Kerala s the base, Muthoot Finance might be considered for the license considering their strong foothold in the lending sector.
7. UAE Exchange India

B R Shetty is not a celebrated business magnet in India, But he has done wonders by setting up UAE Exchange India, the most prolific money transfer and conversion center. With enough experience in this regard to showcase, UAE Exchange India has good chances to cross the line to win the banking license.
8. India Infoline
India Infoline was initially set up in 1995 as Probity Research and Services Private Limited at Mumbai and has since made continuous strides into the financial sector. The chairman of the company is Sri Nirmal Jain.
9. LIC Housing Finance
LIC Housing Finance was set up in 1989 as a public limited company promoted by LIC of India. The initial plans of the company were aimed at providing housing loans to organizations, builders and individuals. With the advance of the sector, they had diversified and have now applied for license. With the stable and proved LIC to back them up, the chances are that they may cross the line.
10. L&T Finance Holdings

L&T Finance Holdings is being promoted by Larsen & Toubro Limited. Larsen & Toubro Limited acts as the holding company for all the financial business of L&T Finance Holdings in India. Within no span of time from 2008, they have forayed into every sectors of finance and have increased their acceptability among the Indian lenders.
L&T Finance Holdings is a serious contender among the banking license applicants.
The chances are that not many may make the cut as expected. Weeding out the applications and picking up the right ones will be tougher and may take time. If all goes by as expected by December 2013, India will have some newcomers to the banking sector. All the while, the debate as to who will make the cut or who will cross the line will still go on.

How NEFT Bank Transfer Works?

National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Under this Scheme, individuals, firms and corporates can electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country participating in the Scheme.

Individuals, firms or corporates maintaining accounts with a bank branch can transfer funds using NEFT. Even such individuals who do not have a bank account (walk-in customers) can also deposit cash at the NEFT-enabled branches with instructions to transfer funds using NEFT. However, such cash remittances will be restricted to a maximum of Rs.50,000/- per transaction. Such customers have to furnish full details including complete address, telephone number, etc. NEFT, thus, facilitates originators or remitters to initiate funds transfer transactions even without having a bank account.
Presently, NEFT operates in hourly batches – there are eleven settlements from 9 am to 7 pm on week days (Monday through Friday) and five settlements from 9 am to 1 pm on Saturdays.
How Does the NEFT System Operates?
Step-1 : An individual / firm / corporate intending to originate transfer of funds through NEFT has to fill an application form providing details of the beneficiary (like name of the beneficiary, name of the bank branch where the beneficiary has an account, IFSC of the beneficiary bank branch, account type and account number) and the amount to be remitted. The application form will be available at the originating bank branch. The remitter authorizes his/her bank branch to debit his account and remit the specified amount to the beneficiary. Customers enjoying net banking facility offered by their bankers can also initiate the funds transfer request online. Some banks offer the NEFT facility even through the ATMs. Walk-in customers will, however, have to give their contact details (complete address and telephone number, etc.) to the branch. This will help the branch to refund the money to the customer in case credit could not be afforded to the beneficiary’s bank account or the transaction is rejected / returned for any reason.
Step-2 : The originating bank branch prepares a message and sends the message to its pooling centre (also called the NEFT Service Centre).
Step-3 : The pooling centre forwards the message to the NEFT Clearing Centre (operated by National Clearing Cell, Reserve Bank of India, Mumbai) to be included for the next available batch.
Step-4 : The Clearing Centre sorts the funds transfer transactions destination bank-wise and prepares accounting entries to receive funds from the originating banks (debit) and give the funds to the destination banks(credit). Thereafter, bank-wise remittance messages are forwarded to the destination banks through their pooling centre (NEFT Service Centre).
Charges for NEFT transactions
The structure of charges that can be levied on the customer for NEFT is given below:
a) Inward transactions at destination bank branches (for credit to beneficiary accounts)
– Free, no charges to be levied from beneficiaries
b) Outward transactions at originating bank branches (charges for the remitter)
- For transactions up to Rs 1 lakh – not exceeding Rs 5 (+ Service Tax)
- For transactions above Rs 1 lakh and up to Rs 2 lakhs – not exceeding Rs 15 (+ Service Tax)
- For transactions above Rs 2 lakhs – not exceeding Rs 25 (+ Service Tax)
c) Charges applicable for transferring funds from India to Nepal using the NEFT system (under the Indo-Nepal Remittance Facility Scheme) is available on the website of RBI at http://rbi.org.in/scripts/FAQView.aspx?Id=67
With effect from 1st July 2011, originating banks are required to pay a nominal charge of 25 paise each per transaction to the clearing house as well as destination bank as service charge. However, these charges cannot be passed on to the customers by the banks.
Step-5 : The destination banks receive the inward remittance messages from the Clearing Centre and pass on the credit to the beneficiary customers’ accounts.
NEFT can be used to transfer funds from or to NRE and NRO accounts in the country. This, however, is subject to the adherence of the provisions of the Foreign Exchange Management Act, 2000 (FEMA) and Wire Transfer Guidelines.

Things You Need To Know About Virtual Credit Cards

With online shopping becoming one of the craze in the nation, people get the freedom to buy anything and everything over the internet. By means of online shopping, one can buy innumerable products from anywhere without any restricted geographical border. However, shopping over the internet portals are not always safe. When a user enters his/ her credit card details, he is exposing the credit limit to the online fraudsters which could be utilised in wrong way. Hence, it is wise to take precautionary measures in order to keep the online transactions safe and secured. There are several mean of keeping your online transaction safe and secured, although it is not really safe when payments are being made to sites, that could be insecure. In order to address such issues, banks have come up with Virtual Credit Card, which is one time transaction, limited period card.

Coming to the point, what exactly are Virtual Cards, it could be defined as online cards that are not issued to an individual physically. It is a service that is offered by the banks to its customers those who are willing to make online payments via their credit cards. The major financial institution that offers the virtual Credit card facility are-

• ICICI VCC
  
• SBI Virtual Card
  
• Axis Bank e-Wallet Card
  
• HDFC NetSafe
  
• Kotak netc@rd
  

The product is named differently at different banks, however, the product remains the same. Credit card holders can use the virtual credit card facility of they opt for net banking, by providing their card details. As one provides the bank with the necessary credit card details, the bank in turn will provide them with a 16 digit virtual card number, expiry date as well as CVV number. One can top up the virtual card as per requirement and the requisite amount will ne credited in the virtual credit card, which can be used as per need.
Things to know about Virtual Credit Card:
Some of the vitals points about Virtual Credit Card that makes it one of its kinds and make them safe and useful are as follows:

• Virtual credit card holders are allowed the minimum credit card limit of Rs. 100 and maximum credit limit of Rs. 50,000 per day.
  
• Virtual Credit cards are valid for 24 to 48 hours, however, the validity of the card depends on the banks that is providing the facility and it may vary
  
• Customers can make only one payment with the virtual card, so it is better to use the entire balance in the card
  
• The virtual card is available to the primary cardholder and not to the secondary holder
  
• Virtual credits cards do not have any physical existence, hence risk is less for card cloning.
  
• After the usage of the card, of there is any amount left in the card, that will be credited back to the customers’ account.
  

Virtual cards can be generated with the customer’s debit card as well, in case if the customer does not have a credit card. Also, e-wallet can also be generated and set up against the saving’s account of the customer’s savings account.
There are several private websites too that offers virtual card facility too. The best part about virtual credit card is that, it is completely controlled by the user as per the terms of its validity, usage and credit limit.

20 Reasons why your Buy/Sell Signal Indicators will Fail

These days people are much more fascinated towards Mechanical Models aka Auto Buy/Sell Signal Softwares and Autotrading Softwares. However at some point of time they do find themselves still loosing in this markets even after adopting various strategies. Here are some points which explains why a trader fails by adopting a trading system with half baked knowledge.

1)You think Buy Sell Indicators are predictive in nature. However in reality the mathematical indicators aka Auto Buy or Sell Signals dont have brain to predict the randomness. And eventually you will fail at some point of time.
2)You want a Buy/Sell Indicator that makes money
3)You want a Best Intraday Buy/Sell Indicator and you dont know how to gauge a Buy/Sell Indicator.
4)You are still trading with subjective bias like Trading Patterns, Elliot Wave,Gann, Fibonnaci, Divergence etc along with your buy/sell indicators.
5)You are jumping from one stock to another stock randomly while following the Buy/Sell Trading rules and selecting the trades again randomly.
6)You are searching for double confirmation by using multiple buy or sell indicators or correlating your indicators with News Events, Global Markets, TV Channels/Analysts or Comparing the Brokers/Tipsters/Analysts calls with your Signals.
7)You dont know how to backtest a trading system which explains the nature of the trading system. And probably you dont want to spend much of your time in learning the basics of trading system.
8)You loose faith after 5-6 continous losses in your trading system.
9)You are probably trading the signal in a wrong timeframe.
10)You dont want to trade all the signals.
11)You are a lunch time or dinner time trader and you want to trade the signals only during those times.
12)Taking the trades based on your anticipation of future Signals rather than trading the actual signals.
13)Averaging the trades when market moves against your position a little.
14)You are too lazy in trading and following the Buy/Sell rules.
15)You are using the most commonly used trading system among the people that is invented somewhere around 1960′s or 1980′s.
16)You learnt a simple trading system from the most popular book and you are using it.
17)You dont know whether the Buy/Sell Signal indicator will work for a particular trading instrument or not and you are willing to take a risk by trading it.
18)You seen the Best part of the trading system and you got confident and you want to trade the subsequent signals.
19)You dont know the mathematical logic behind the buy/sell indicator. However you are blindly interested in following it.
20)You had seen Paid Buy/Sell Indicators Advertisement in Facebook/Twitter which gives 85%-95% guarenteed success and your are interested in purchasing it at any cost.