“HDFC fixed first” leaves a good taste in the mouth

ICICI Bank Headquarters, BKC
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“HDFC fixed first” leaves a good taste in the mouth

As TOI said, OP Bhatt must be a happy man..Though the HDFC/HDFC Bank scheme follows in the foot steps of ICICI Bank it is unlikely that this will be christened teaser (update: it was: everything with fixed upfront would require additional provisions according o RBI in late september, thankfully credit shot up this period) by the regulator without raising a few eyebrows as Fixed rates are inherently smarter in this ruptured leg of the Economy. Though we may not enter a recession and even US may avoid Japanization and the double dip threats with strong consumption, the conditions in the Economy are far from rosy and with the Land acquisition Bill more than one expert may even trim GDP forecasts further (RBI computed its projection as Factor Cost mehod 7.6% translating IMF 7.8% , Mon review said on 24 October that Investments are down instead of the forecast of 35% and the rate hike will continue. Selected banks may not pas son the rate hike as PSU banks see a spike in NPLs)  as Corporate costs climb back to above par and have to shoulder the burden of  the rising inflation.

More disinterested participants in the market – but no recession

I do not see how Goldman Sachs’ prediction of rate cuts from next year is even hopeful of being achieved as the political situation is at its most “non performing is mandatory” right now in the middle of the term of this executive and surrounding each leg in corruption scams already. In a true return to 2008, the paeans to luxury goods spending and wealth have started doing the media rounds showing that everyone in the writing business is done writing and is now just waiting for the inevitable report card for the Q3 showing a series of collapsesin PMI, IIP and GDP , even Exports as the benefits of lower crude also have not percolated down yet

And the buying is already in process

Ofcourse,  the optimists rule the roost right now with so much value available in the market but most know that their purchases of today may not give even a normal trading profit beforre returning to the same levels next month and it is i the easiest to be a mealy mouth right now and keep buying everything insight

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