Oil Tanks India

India's Reliance Industries is said to have leased the clean storage as it seeks to increase its presence in the United States, trade sources said.

Reliance, which operates the world's biggest refining complex, aims to directly sell fuel in the US, the world's biggest oil consumer, and had earlier leased 800,000 barrels of clean storage from American refiner Hess Corp. in the New York harbour.

One industry souce quoted said: "Reliance began supplying gasoline to the Bahamas storage from October. By the end of January it had supplied about 515,000 tonnes of gasoline to the Bahamas," a source said.

Full Story: Vopak's 1.2 million barrel deal with India - Nassau Guardian

Full Story: Fuel spill at airport ignites fear, cleared - Times of India

Not all bankers are comfortable with these two conditions. The existing system of BPLR is not entirely transparent and banks often use their discretion while fixing the actual loan rates. Bankers had a long meeting with the Reserve Bank of India (RBI) brass on Friday and bargained hard for discretion in certain areas. For instance, loans against term deposits can be given at below the base rate. Similarly, loans given to banks own employees wont have to be linked to base rate.

(I dont understand why banks cant give their employees a direct subsidy instead of subsidized loans. Bankers, of course, have their own logic. Dont airline and railway employees get free air and rail tickets? one senior banker asked me. I dont know the answer. Do the employees of telecom firms pay a different tariff? Or, for that matter, do the employees of oil marketing companies pay less to fill the petrol tanks of their cars?) Banks also want the regulators approval to charge less on loans to troubled firms whose debt is being restructured, and RBI may allow them to do so. Currently, BPLR of private banks is much higher than that of public sector banks. The difference is 3-4 percentage points. Once the entire industry shifts to the base rate, wont the private banks find themselves disadvantaged vis-à-vis their counterparts in the public sector? Not really. So long, we were keeping a high BPLR and lending at much below it. Now, the process will be reversed. The base rate will be low, but the actual loan rate will be much higher, says the CEO of a private bank. If its that simple, why are the banks making so much fuss? At Fridays meeting, some bankers wanted RBI to fix the base rate but the regulator declined. I will not be surprised if the industry decides to wait for State Bank of India (SBI) to take the lead and follow the SBI base rate blindly, irrespective of their cost of funds. SBI chairman O.P. Bhatt has hinted at a base rate of around 8.5% and I bet that the base rates of all bankspublic and privatewill range between 8.25% and 8.75%, if Bhatt sticks to his plan.

While the base rate will have to wait for three months to be implemented, banks will start computing savings bank interest rates daily from April. This, according to an RBI estimate, will push up the cost of savings bank deposits by 34 basis points. One basis point is one-hundredth of a percentage point. The savings bank interest rate is 3.5%, but the average cost for banks is 3.16% as they pay interest on the lowest minimum balance kept in an account between the 10th and the last day of a month. This will change from April. The impact of the overall cost of deposit will depend on the composition of deposits in a bank. While 3.5% interest is paid on savings accounts, no interest is paid on current accounts and higher interest is paid on term deposits. The focus has all along been current and savings accounts, or CASA, to bring down the cost of funds. Punjab National Bank in the public sector and HDFC Bank Ltd and Axis Bank Ltd in the private sector have higher CASA than others. For them, the overall cost of funds may go up by around 15 basis points or so. Banks will feel the heat when RBI frees the savings bank rate. And this can happen sooner than what many of us think. Once the savings bank rate is free, banks may end up paying more in their rush to mop up cheap savings deposits, which will not remain cheap any more. As a regulator, protection of consumer is equally important for RBI as banks profit.

Full Story: What happened at the RBI board meeting? - Livemint

“I am baffled that any American company would want to have employees operating in Iran,” says Sen. Susan Collins, R-Maine. “I would think they’d be ashamed.”  Halliburton says the operation  videotaped by NBC News  is entirely legal.

In meetings with reporters during a visit to Washington last week , he focused on the role played by Ahmed Chalabi, an Iraqi who lobbied the Bush administration to invade Iraq in 2003 and is now alleged to be working closely with the Iranian Revolutionary Guard Corps.

– “Iran provides money, campaign materials, and political training to various individual candidates and political parties [in Iraq].

Full Story: GEORGE W BUSH, IRANS SECRET WEAPON IN IRAQ - Veterans Today Network

countries of South Asia but an atomic power. And if war is imposed on Pakistan, there would be no concept of the victor or the vanquished. Reportedly, Kalabagh dam had been politicized due to India?s hand in fueling passions in the smaller provinces.

the interest of both India and Pakistan to resolve the water issue amicably otherwise the onus will lie on India and it will be responsible for the consequences, as Pakistan will use all its resources to get its share of water at any cost.

Full Story: Looming threat of water wars - Pakistan Observer