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Credit offtake from public and private sector banks in the country grew by over 23.3% for the one-year period ended February 25, indicating an upswing in the industrial activity. According to the RBI, for the one-year period ended February 25, credit offtake stood at Rs 39.26 lakh crore as against Rs 31.83 lakh crore a year ago. During the period, deposits rose to Rs 52.29 lakh crore from Rs 45.07 lakh crore. This is a rise of over 16% on an annual basis.
Several banks raised their deposit rates after the Second Quarter Review of 2010-11, which led to a larger deposit mobilization in December. Consequently, deposit growth increased to 16.5% by end-December 2010, close to the indicative projection of 17% for the current financial year.
However, annual non¬food credit growth has been above the Reserve Bank's indicative projection of 20% since early October 2010, rising to 24% by end-December 2010. The wide gap between credit growth and deposit growth resulted in a sharp increase in the incremental non-food credit-deposit ratio to 102% by end-December 2010, up from 58% in the corresponding period of previous year. During the past few months, credit offtake has grown at the rate of 20% on average. Credit offtake has been higher this fiscal on account of large borrowings by telecom firms to pay for 3G spectrum licences.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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