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.

Friday, July 26, 2013

CENTRAL BANKS: RESULTS NOT THAT BAD
Central Bank of India has announced the following results for the quarter ended June 30, 2013: The Unaudited Standalone results for the Quarter ended June 30, 2013:

The Bank has posted a net profit after tax of Rs. 219.30 million (Rs.21.93 Cr) for the quarter ended June 30, 2013 as compared to Rs. 3359.50 million (Rs.335.95) for the quarter ended June 30, 2012. Total Income has increased from Rs. 56249.70 million for the quarter ended June 30, 2012 to Rs. 64434.50 million (Rs.644.35 Cr) for the quarter ended June 30, 2013.

BUT WHAT MOST OF US MISSED IS THAT THE NET PROFIT TOOK A HIT DUE TO HIGH PROVISIONING.
The operating profit in Q1FY13 is Rs.1000.57 Cr as against Rs.792.91 Cr on Q-o-Q basis. So, is this bad, in any case?

The provisions and Contingencies has increased from Rs.352.94 Cr in Q1FY13 to Rs.983.26 Cr in Q1FY14. This has actually dented the net profit margins.

Hence the results are not that bad as is made out to be. Still the bank is profit making organization.