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Readings: Savings Bank Interest, Funding Woes, DTC for Brokers


Value research: RBI’s real role in the Interest Calculation change for SB accounts. It seems two people, Mahesh Khatani and Ajit Kumar Jain, went through the entire process of RBI complaints and the courts to get RBI to change the rules. In the land of horrible regulators like IRDA and great ones like the current SEBI,  RBI seems to fall right in the middle.

Fund me or I will kill you by Vishal Gondal, an account of how an entrepreneur went all crazy defending his plan, raising voices and eventually being unwilling to even leave. Gotta feel for Vishal – what’s scary is that he got the jitters, because he doesn’t sound like the kind of guy that would get the jitters easy. But we definitely need vociferous arguments, and in all my interactions with VCs, though things haven’t gotten into shouting matches, I have felt that they sometimes take on a negative view just to see how passionate you are about defending the plan. Unfortunately some people can take it too far, but you gotta show that you believe. We all want a little bit of religion, it seems.

AMFI is raising their fees for distributors and renewals. Individuals go to Rs. 2,500 from Rs. 250 for renewals and Rs. 5,000 from Rs. 500 for new distributor registrations. Private limited companies scale to Rs. 25,000 from 2,500 and institutions a massive Rs. 2.5 lakhs from Rs. 7,500. This will change the dynamics of the industry in the long run – be prepared to pay for financial advice and also for these costs.

The DTC will cause a windfall for brokers (DNA). I’d made a similar argument in March – that it makes complete rational sense to sell and buy back now.


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