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“Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies.”
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With household savings rates in India 22% and rising, less than 10% of Indian population in the formal banking sector, and 200 million projected to be added to the workforce in the next 10 years, prospects for investing in the Indian banking sector for the long-term are very attractive.
Finance -News By Industry-News-The Economic Times
Indian banks appear to be headed for better profits this quarter in sharp contrast to banks in the West which are issuing profit warnings amidst massive writedowns. Most banks in India are likely to show better profits for the quarter ending September compared with the previous quarter (June 2008).Profits are likely to be higher because of their hike in lending rates coupled with an improvement in prices of government securities. It may be recalled that in the first fortnight of August, several banks raised their lending and deposit rates.
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Antrix, a division of ISRO, is a outsourced satellite launch provider with costs 30% cheaper compared to those of US and Russian providers. Outsourcing beyond IT! Wired magazine did a feature article on India’s space program a couple of years ago.
The Indian Space Research Organisation, or ISRO, plans to launch its lunar mission in October, marking the start of a two-year quest to learn more about the evolution of the moon and map its surface for minerals such as helium-3, or He-3.
Isro will launch Chandrayaan-1, the unmanned spacecraft, between 19 and 26 October, officials at the space agency said on Thursday.
The spacecraft, which weighs 590kg, will be fitted with 11 scientific instruments, including five from the US, Sweden, Japan, Germany and Bulgaria. These instruments and cameras would look for water on the moon, besides mapping the chemical, soil and mineral characteristics of its surface.
The Indian mission will also be the first to map the entire surface of the moon, including the polar regions where frozen water could be found, said T.K. Alex, director of Isro’s satellite centre in Bangalore, at a press conference.
Scientists estimate the moon has large reserves of He-3, a mineral used to produce nuclear energy that has the potential to solve the world’s energy problems.
Chandrayaan-1 will be fitted with an instrument provided by the National Aeronautics and Space Administration, or NASA, of the US to map the lunar surface. “The scientific knowledge gained by M3 will prove to be a valuable resource for Nasa’s future exploration of the moon,” Mary White, a member of the moon mineralogy mapper, or M3, team at Nasa’s Jet Propulsion Laboratory, said by email.
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