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The Indian rupee touched a record low of 54.46 to the US dollar on Wednesday. The currency is one of the weakest currencies in Asia and among emerging markets. This is largely because India is a net importer of goods and services and hence has a high current account deficit. It has to pay for imports in foreign currency.

Here are some factors that could influence the Indian currency going forward:

Oil prices: The price of oil dropped to a six-month low Tuesday on concern that economic uncertainty in Europe could hurt demand for crude. Benchmark West Texas Intermediate crude fell 80 cents to end the day at $93.98 per barrel in New York. Oil hasn’t finished this low since Dec. 19. Oil has fallen 11 percent so far in May. Recent signs of global economic weakness in Europe and elsewhere have raised questions about the strength of the energy demand. This could be good news for the rupee as the value of Indian oil imports could fall. India’s oil imports grew 7 per cent in April 2012 to $13.9 billion.

Quantitative easing: Rising concerns in Europe would mean lower crude and commodity prices, thereby lowering inflation expectations and greater-than-anticipated rate cuts during the course of the year, according to Macquarie Bank. Global central banks have not cut interest rates or released money into the financial system like the so called ‘Quantitative Easing’ in US. When the US Federal Reserve Bank releases more money in the system, the risk appetite of global investors goes up. Macquarie Bank expects the US Federal Reserve to opt for QE by June or July 2012. This could push up flows into equity markets.

Gold prices falling: Gold prices have fallen in the international market and are at a 4-month low. This could ease the burden on the import bill too. Indians consume 800 tonnes of gold each year. While falling prices could attract more buyers, Indians are largely expected to go slow on gold purchases this year. Imports of gold and silver declined by nearly a third to $3.1 billion in April, from $4.7 billion a year ago, as higher gold prices and an increase in import duties crimped local demand.

India’s trade deficit: The country’s trade deficit was $13.4 billion in April, Khullar said, as exports totalled $24.5 billion and imports amounted to $37.9 billion. The deficit was down slightly from $13.9 billion in March. If this trend continues, it could ease the pressure on the Indian currency.

Market and expert predictions: (rupees to US dollar)

• CLSA: 56-58

• UBS: 56

• Standard Chartered: 54-55

• IndusInd Bank: 56-57

• ING Vysya Bank: 52-54

• Infosys: 54-55

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Hoode, May 14, 2012: The Gio Residential Dawah Training Camp will be held from 22nd May 2012 to 27th may 2012 at the Salihath English Medium School, Hoode. Girls from 15 to 28 years of age are eligible for an entrance test which will be held on 17th may and those who get selection in the entrance exam are eligible to qualify for Dawah Camp.

Entrance exam will be held at the Jamiya Masid, Udupi , Assahaba House, Karkala, Gosha House, Gangolli at 3.00 PM on 17th May.

There will be admission fees of Rs. 300 per head for the candidates who qualify in the entrance exam to enrol in the camp.

Study of Quaran with Tajweed, Hadeeth, Fiqh, Seerath, Islamic Etiquette along with craft, cooking and health, personality development and power point presentation and much more to learn during the Dawah Camp.

For More details please contact: 8970162812, 7760535888 and 9901193029

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Brickwork Finance Academy (BFA) is beginning the first batch of its flagship Post Graduate Program (PGP) in Finance on June 23rd, 2012. 

The program combines traditional academic objectives with the practical demands of workplace. It comprises of nineteen individual courses, all focusing on hard finance, in line with the demand of the recruiting market in the financial arena. The academy is also offering 100% placement  for particpinats who succesfully complete the course.

This is a course for candidates based at Bangalore as it is a weekend course.  Please do carry the same. 

For Further details:

Please Contact: Cubic Communication - 9619460014

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Udupi, May 9: Central government, along with state government, has instituted a number of plans for the welfare of Christian community. The plans will be implemented through Karnataka Minorities Development Board, stated a press release recently.

According to the plan, women get 33% and physically challenged get 3% of reservation for various projects. The last date for application submission is June 30, 2012.

Schemes such as Arivu Loan scheme would help Christian students pursuing professional courses in medicine, engineering, business administration, nursing and technical courses like ITI. This loan would cover the educational costs at a nominal 2 per cent interest rate to be paid in installments within a year after completion of the course.

Micro loan scheme is for those Christians who take up small scale business like vegetable vendors, tailors, fish sellers, tea shops and cycle repair. They are eligible for loans upto Rs 10,000 at five per cent rate of interest. Actually the state Corporation is only channeling this loan given by the National Minorities Development Finance Corporation.

The corporation also implements the loan scheme through Co-operative Societies registered under the Co-operative Societies Act, 1959 for the construction of house and for other requirements.

The corporation provides irrigation facility for minority farmers through lift irrigation scheme utilizing water from rivers in Ganga Kalyana scheme (Community Irrigation). Where there is no source of water available, bore-wells are dug and maintained by the corporation for 5 years before being handed over to the beneficiaries. This is an entirely subsidy scheme.

In cases where selected beneficiaries hold 2 - 5 acres of land, a bore well will be drilled and a pump-set will be supplied by the Corporation. For more information on the availability of schemes, approach the district officer for minorities, DC office Building, A Block, 1st Floor, Manipal or contact 0820-2574990.