Discrimination faced by Mumbaikars...

If the housing societies in Mumbai (Bombay) are only meant for families (married couples), then the government of Maharashtra should make marriage compulsory in the state/city.
Or else the government should tell its citizens where will Unmarried, Divorcees, Bachelors, Spinsters live in the city of skyscrapers or is Bombay only for those who have families.
This is one of the greatest mental blocks of Mumbaikars, who otherwise want to bask in the FALSE HALO of Cosmopolitanism.
This disease (of not giving apartments to Bachelors, Muslims, etc on rent) is specially prevalent in housing societies where the Gujaratis, Marathis and North Indians (to some extent) abound; while the rest of the population is more or less okay with the concept.
The government of Maharashtra should take this matter seriously and devise laws to eradicate this malice ASAP, so that BOMBAY (and its suburbs) becomes free of discrimination based on Marital Status, Religion, etc. Or else the Honourable Supreme Court of India should step in, and give directions to the state or central governments -- so that the fundamental rights of its citizens enshrined in the constitution of India is not violated.

Sunday, April 28, 2013

Gold price fall not to impact financiers: AGLOC
Manappuram Finance Ltd (Rs.17.65)  will not  have much impact on the bottomlines, though a lttle dent could come on the toplines, as the value of collateral decreases. Also, FIIs have increased their stake in the company, speaking sequentially. Read the full analysis on my Paid Blog, by becoming a member or joining my recommended brokerage house.
Mumbai: AGLOC, an umbrella body of gold-loan companies, Monday said the current fall in price of yellow metal will not have any impact on the loan portfolios.

"A 15-20 per cent price fluctuation in gold prices will not have any significant impact on the gold loan portfolios of member companies as they have already factored in such fluctuations in the business model," Association Of Gold Loan Companies (AGLOC) said.

The association took a stock of the situation with members following the heavy fall in prices over the last fortnight. From a high in the Rs 33,000 region for 10 grams, the price plummeted to Rs 25,680 last week and is at Rs 26,750 level on Monday, 20 percent down.

The price fall has led to a slew of analyst reports, most of them sounding concerned for the gold loan players. Investors have also turned cautious, as there has been heavy selling in the stocks of gold loan financiers.

The AGLOC statement said it has been "noticed that there is regular redemption of earlier loans sanctioned at higher amount per gram of gold," but added that members companies have been advised to reduce the maximum loan rate commensurate with the prices of the gold.

Though the gold prices have fallen, it has been observed that loan demand continues to be robust in spite of reduction in amount lent per gram, it said.

"The gold loan companies are majorly lending against household jewellery where the impact of such temporary fluctuations on the business model is minimum," AGLOC's president George Alexander Muthoot said.

Muthoot, the largest gold financier, added that most of the lending is under Rs one lakh and that too for a short period of up to six months.

It can be noted that Reserve Bank of India has for long been expressing reservations over the business, specifically about the concentration of risk.

Courtesy: Zee News