Some of the most fruitful times I've experienced in church staff meetings have been those occasions when we've thought through the theological foundations for why we do what we do. Obviously, there's an abundance of tools for generating those conversations, not least among them, Scripture itself.
One non-inspired book that I've found to be unusually helpful for guiding our examination of pastoral ministry is Charles Bridges' The Christian Ministry. You won't agree with Bridges across the board. You certainly shouldn't. But it raises a wide range of important conversations. It's also an old book, and a significant advantage of using an old book is that we can explore the underlying, abiding principles that shape our ministry while maintaining some distance from the pressures that perpetuate our allegiances to our traditions.
I've just learned that the book is now available in paperback at a much lower price than the Banner of Truth hardback. And it's on Kindle for less than $1.
20 Eylül 2012 Perşembe
Shirking the Problem of What Is Good
I'm not sure whether it's more remarkable to me that G.K. Chesterton wrote these words from Heretics when he was about 30 years old, or that he wrote them over a century ago:
Every one of the popular modern phrases and ideals is a dodge in order to shirk the problem of what is good. We are fond of talking about "liberty"; that, as we talk of it, is a dodge to avoid discussing what is good. We are fond of talking about "progress"; that is a dodge to avoid discussing what is good. We are fond of talking about "education"; that is a dodge to avoid discussing what is good.
The modern man says, "Let us leave all these arbitrary standards and embrace liberty." This is, logically rendered, "Let us not decide what is good, but let it be considered good not to decide it." He says, "Away with your old moral formulae; I am for progress." This, logically stated, means, "Let us not settle what is good; but let us settle whether we are getting more of it." He says, "Neither in religion nor morality, my friend, lie the hopes of the race, but in education." This, clearly expressed, means, "We cannot decide what is good, but let us give it to our children."
(p. 13 in this edition, paragraph break added)
An Alphabet Soup of Militancy
In this interview, Rick Phillips (senior minister of Second Presbyterian Church in Greenville, South Carolina) describes the struggles within the Presbyterian Church in America (PCA) over the regulative principle of worship, Roman Catholic-derived forms of the Lord's supper, and theistic evolution. It's a fascinating perspective from a militant conservative, if you're at all interested in the PCA or the broader trends within American evangelicalism. Phillips sounds as if he wouldn't be a bit surprised if the denomination split down the middle within the next decade.
Though the PCA's membership in the National Association of Evangelicals (NAE) hasn't yet become a focal point of contention, Phillips expressed his frustrations and hopes that the relationship could be severed. For any of you who appreciate irony, Phillips couldn't resist mentioning that Bob Jones University (BJU) prohibits faculty and staff from attending his church, precisely because of the PCA's affiliation with the NAE—an organization that Bob Jones Jr. helped to found. Perhaps he might be more fondly received if he were to abandon his defense of the regulative principle and host, say, a local drama team. [wink]
Though the PCA's membership in the National Association of Evangelicals (NAE) hasn't yet become a focal point of contention, Phillips expressed his frustrations and hopes that the relationship could be severed. For any of you who appreciate irony, Phillips couldn't resist mentioning that Bob Jones University (BJU) prohibits faculty and staff from attending his church, precisely because of the PCA's affiliation with the NAE—an organization that Bob Jones Jr. helped to found. Perhaps he might be more fondly received if he were to abandon his defense of the regulative principle and host, say, a local drama team. [wink]
Apologetics: Fertile Soil for Heresy?
Though I didn't attend T4G this year, one of the themes I appreciated from the talks and the panels was the explicit recognition that a desire to see people embrace the gospel often dilutes the gospel through attempts to make the gospel palatable to unbelievers. In this panel discussion, Peter Williams said we need to be careful to understand that apologetics often leads to heresy. Al Mohler argued that apologetics, detached from biblical authority, becomes a mechanism for denying Scripture.
Not all apologists and apologetic approaches make these concessions. (See "White, James R.") In fact, my experience is that many apologists understand the centrality of Jesus' resurrection to the Christian faith better than most evangelical pastors. (Thank you again, Christopher, for all those reminders of how badly we pastors fail on this point.)
Having said all that, I've been listening to a series of apologetic addresses in secular contexts. I've been grateful for some of them, but I have to say I've been more disappointed than encouraged. Few things are more frustrating to me than when the person designated to represent the orthodox Christian position, simply doesn't.
Here's one example from John Stott's Veritas Forum at Harvard University. In response to a comment about the arbitrariness of demands for faith in Christ, and a question about the people who've never heard, Stott replied:
Not all apologists and apologetic approaches make these concessions. (See "White, James R.") In fact, my experience is that many apologists understand the centrality of Jesus' resurrection to the Christian faith better than most evangelical pastors. (Thank you again, Christopher, for all those reminders of how badly we pastors fail on this point.)
Having said all that, I've been listening to a series of apologetic addresses in secular contexts. I've been grateful for some of them, but I have to say I've been more disappointed than encouraged. Few things are more frustrating to me than when the person designated to represent the orthodox Christian position, simply doesn't.
Here's one example from John Stott's Veritas Forum at Harvard University. In response to a comment about the arbitrariness of demands for faith in Christ, and a question about the people who've never heard, Stott replied:
With regard to those, for example, who have never heard the name of Jesus, I would want to say this—that the only people that I feel fairly confident will be lost on the last day are those who have heard and have deliberately rejected the word of salvation which they have heard and understood. That seems to be very clear in the New Testament. But with regard to those who've never heard, I don't find the New Testament clear at all. Certainly, none of us deserves to go to heaven, and none of us can enter the presence of God in heaven by our own morality or righteousness. Christians certainly can't. We don't trust in our own righteousness to get to heaven, and nor can anybody else. Self-salvation is out, because if he caught a glimpse of the majesty, the glory, the holiness of God, we know that we're utterly unfit to come anywhere near him in the tattered rags of our own morality. So I know that, and I'm prepared, therefore, to leave the rest to God. Meanwhile, our responsibility is to take the good news that, by his grace, we've come to accept, and to spread it—make it known—as far as we can.In addition to the point I make about apologetics above, I believe these comments also serve as an illustration of the fact that people who write really good things can also believe things that are contrary to Scripture. They also provoke a discussion about the influence of ecumenism and perhaps even the long-term effects of paedobaptist ecclesiology—how it may predispose its adherents to embrace ecumenism because they've already deliberately welcomed unbelievers into the church. But those conversations are for another time.
"Eat Mor Chikin . . . Just Not Today?": Reflections on Clumsy Evangelical Cultural Engagement
Though I've had some fun with the Chick-fil-A controversy over the past week, I've also had some more serious questions rattling around in my head. Brighter folks actually figured out what they thought in advance, and wrote about it days ago. They also tended to write in traditional essay form, whereas I've just tried to answer my own questions in a goofy self-interview thing. So it is what it is . . .
How many Chick-fil-As (hereafter CfA) are there within five miles of your home?
Four or five.
Did you check on that before you moved there?
Of course.
Why are so many people eating CfA today?
Probably one or more of several reasons, depending on the person.
1) Because it's tasty, and this made a good excuse to eat a piece of nicely-seasoned white meat chicken, fried under pressure in peanut oil to retain it's juiciness. I mean, it's not like the big-city mayors were putting the squeeze on White Castle.
2) Because CfA has become a symbol for the culture war. Evangelical Christians and other cultural "conservatives" feel like they're losing their grip on the America that they know and love, and they want to put their money in the pockets of someone who's on their side, rather than another politician who pretends he is.
3) Because this issue has been cast as a gay-rights issue, and that's one of a relatively small number of issues that's particularly polarizing—as illustrated by the decisive role traditional marriage initiatives on swing-state ballots had in the 2004 election.
4) Because there's a very real First Amendment, religious freedom issue in play. Right or wrong, there is no question that a wide spectrum of religious Americans feel that their rights are increasingly and unprecedentedly threatened by numerous local municipalities, the current presidential administration, judicial decisions, and cultural-commercial forces.
5) Because this was a way to cast a sort of vote, and in a public way. Unlike the polls in November, people know what you're voting for when you stand in an hour-long line. It created a social media event that could be splashed all over Facebook and Twitter.
What message did it send?
I'd be stunned if CfA didn't smash its previous single-day all-stores sales record. That says there's still a significant commercial force that's poised, at least in some cases, to overwhelm any negative impact of a boycott. I'm sure it also sent another in a long series of "us vs. them" messages—that evangelicals hate/fear/are disgusted by the homosexual lifestyle and those that practice it.
Is that latter message the one people were trying to send?
I don't think that's what it was about, at least not for the most part. My sense is that this was about a perceived threat to a way of life, not a statement about a category of people.
Why the breakdown in communication then?
Both sides are at fault. The cultural progressives tend to label theological or ideological disagreement as intolerance. And intolerance must not be tolerated! (As D.A. Carson has pointed out, they're completely blind to the irony of their own inconsistency.) They assume that disagreement—especially one that leads to a moral conclusion—entails personal animosity, even hatred. Cultural progressives can't separate ideas from the people that hold them. That poisons public discourse, whether it's in the political, cultural, or—in this case—commercial sphere.
Evangelical cultural conservatives have sent mixed messages on whether they're more interested in conserving culture or proclaiming the "evangel"—the gospel. That's probably because evangelicals themselves aren't too sure. If you ask a cultural progressive what evangelicals are, he's going to tell you they're religious people who want to impose their beliefs on America by getting political power. Gospel theology is going to be the furthest thing from his mind. And that shouldn't surprise us, because most evangelicals don't talk much about the gospel, and many of them couldn't articulate authentic gospel theology, let alone live a life that's shaped by it. They're certainly not interacting with non-Christians in a way that portrays an accurate picture of the gospel. And by "an accurate picture of the gospel," I mean a biblical understanding the universality of both human depravity and the offer of grace and forgiveness. These foundational truths have not penetrated cultural evangelical hearts in a transforming way: We are all equally deserving of the full outpouring of divine wrath, and none of us has merited the grace we have received.
Should believers have eaten at CfA today?
That depends on two things, I think: 1) why they went, and 2) what the outcome was. Both are difficult to assess, but the latter is particularly troublesome. This opens a conversation that's much too large to resolve in this context, but suffice it to say that I believe Christians may, even should, engage publicly in political and cultural issues. Nevertheless, we walk an arduous path when we do. What will that engagement communicate about our priorities? To what degree will our mission as ambassadors be compromised? How will we guard our own hearts from the corruption that accompanies proximity to power and the hope of possessing it? And what do our Facebook posts and tweets communicate to the hundreds of people reading them, many of whom are presumably not believers and justifiably draw conclusions (whether accurate or not) about what is most precious to us?
Did you eat CfA today?
Yep, sure did. (But only once.) I chose not to rub my homosexual neighbors' or unbelieving Facebook friends' noses in it, but that doesn't mean my presence and money didn't contribute in some way to a cultural polarization that's rooted in miscommunication and misdirected priorities, and which ultimately obscures the gospel.
How many Chick-fil-As (hereafter CfA) are there within five miles of your home?
Four or five.
Did you check on that before you moved there?
Of course.
Why are so many people eating CfA today?
Probably one or more of several reasons, depending on the person.
1) Because it's tasty, and this made a good excuse to eat a piece of nicely-seasoned white meat chicken, fried under pressure in peanut oil to retain it's juiciness. I mean, it's not like the big-city mayors were putting the squeeze on White Castle.
2) Because CfA has become a symbol for the culture war. Evangelical Christians and other cultural "conservatives" feel like they're losing their grip on the America that they know and love, and they want to put their money in the pockets of someone who's on their side, rather than another politician who pretends he is.
3) Because this issue has been cast as a gay-rights issue, and that's one of a relatively small number of issues that's particularly polarizing—as illustrated by the decisive role traditional marriage initiatives on swing-state ballots had in the 2004 election.
4) Because there's a very real First Amendment, religious freedom issue in play. Right or wrong, there is no question that a wide spectrum of religious Americans feel that their rights are increasingly and unprecedentedly threatened by numerous local municipalities, the current presidential administration, judicial decisions, and cultural-commercial forces.
5) Because this was a way to cast a sort of vote, and in a public way. Unlike the polls in November, people know what you're voting for when you stand in an hour-long line. It created a social media event that could be splashed all over Facebook and Twitter.
What message did it send?
I'd be stunned if CfA didn't smash its previous single-day all-stores sales record. That says there's still a significant commercial force that's poised, at least in some cases, to overwhelm any negative impact of a boycott. I'm sure it also sent another in a long series of "us vs. them" messages—that evangelicals hate/fear/are disgusted by the homosexual lifestyle and those that practice it.
Is that latter message the one people were trying to send?
I don't think that's what it was about, at least not for the most part. My sense is that this was about a perceived threat to a way of life, not a statement about a category of people.
Why the breakdown in communication then?
Both sides are at fault. The cultural progressives tend to label theological or ideological disagreement as intolerance. And intolerance must not be tolerated! (As D.A. Carson has pointed out, they're completely blind to the irony of their own inconsistency.) They assume that disagreement—especially one that leads to a moral conclusion—entails personal animosity, even hatred. Cultural progressives can't separate ideas from the people that hold them. That poisons public discourse, whether it's in the political, cultural, or—in this case—commercial sphere.
Evangelical cultural conservatives have sent mixed messages on whether they're more interested in conserving culture or proclaiming the "evangel"—the gospel. That's probably because evangelicals themselves aren't too sure. If you ask a cultural progressive what evangelicals are, he's going to tell you they're religious people who want to impose their beliefs on America by getting political power. Gospel theology is going to be the furthest thing from his mind. And that shouldn't surprise us, because most evangelicals don't talk much about the gospel, and many of them couldn't articulate authentic gospel theology, let alone live a life that's shaped by it. They're certainly not interacting with non-Christians in a way that portrays an accurate picture of the gospel. And by "an accurate picture of the gospel," I mean a biblical understanding the universality of both human depravity and the offer of grace and forgiveness. These foundational truths have not penetrated cultural evangelical hearts in a transforming way: We are all equally deserving of the full outpouring of divine wrath, and none of us has merited the grace we have received.
Should believers have eaten at CfA today?
That depends on two things, I think: 1) why they went, and 2) what the outcome was. Both are difficult to assess, but the latter is particularly troublesome. This opens a conversation that's much too large to resolve in this context, but suffice it to say that I believe Christians may, even should, engage publicly in political and cultural issues. Nevertheless, we walk an arduous path when we do. What will that engagement communicate about our priorities? To what degree will our mission as ambassadors be compromised? How will we guard our own hearts from the corruption that accompanies proximity to power and the hope of possessing it? And what do our Facebook posts and tweets communicate to the hundreds of people reading them, many of whom are presumably not believers and justifiably draw conclusions (whether accurate or not) about what is most precious to us?
Did you eat CfA today?
Yep, sure did. (But only once.) I chose not to rub my homosexual neighbors' or unbelieving Facebook friends' noses in it, but that doesn't mean my presence and money didn't contribute in some way to a cultural polarization that's rooted in miscommunication and misdirected priorities, and which ultimately obscures the gospel.
Indian stock market, Nifty outlook 10-14 2012
Indonesia stock info - Indian stock market, Nifty Futures outlook 10-14 2012, best stock to watch next week 10 september 2012, ; The Nifty opened the week on a subdued note and traded in a narrow range for the initial days. The Nifty recorded a low of 5215, before picking up strong momentum toward the end of the week.
The Nifty finally closed at 5358, after recording a high of 5366 level. Nifty has closed strongly by witnessing rising gap in Friday's session, which lead index to register weekly close above cluster of moving averages.
Currently the index is forming a rising wedge pattern on daily chart. In the near future index is likely to consolidate at higher levels. The index has an immediate resistance at 5400 followed by swing high of 5448 levels.
On the downside index has strong support in the range of 5310 -5275 levels.
We believe it is a good sign but the pockets of strength remain. Pharma, FMCG and IT continue to remain strong. We believe that this will continue for this series. We look positively in these sectors whether it is Cipla , Aurobindo Pharma or Dr Reddy they all look good in the pharma space. In FMCG, you can carry a position in Dabur , ITC those corrected today but, can be looked at positively. These are the stocks which are looking positive now
* Investors' anxiety may increase as the prolonged wait for much touted reform measures gathers further pace next week, ahead of RBI's policy meeting on Sept. 17.
* Indian stock markets are keenly watching if the government can push forward FDI and fuel price hike via executive decisions as the monsoon session of the grid-locked parliament ends on Friday.
* Markets also await key macroeconomic data next week. July industrial output data to be released on Sept. 12 and August headline inflation on Sept. 14.
* Data points will also be key ahead of RBI's monetary policy review on Sept. 17.
* Markets expect August inflation at around 7 percent and IIP growth to be flat to slightly negative.
* Hopes of Fed launching another bond-buying programme got a boost after ECB's action. Investors will look to U.S. jobs data due at 1230 GMT for further hints.
* Indian stock trading in both Bombay Stock Exchange and National Stock Exchange will be opened for 1-1/2 hours on Saturday, Sept. 8 as the BSE is testing its disaster recovery software.
The top five trading ideas for the week are:
Hexaware Technologies:
The price of Hexaware had registered a breakout from a key resistance during February 2012. Thereafter the stock retested the breakout level and consolidated at higher levels. The share price has broken this consolidation and closed near new 52-weeks high.
The stock has also been sustaining above its cluster of moving averages over the past few sessions of trade which is also a bullish sign. The momentum indicators are in rising trajectory and are in buy mode.
Hence, we recommend buying on dips between Rs 131—132 levels with a stoploss placed below Rs 129.40 levels, for targets of Rs 138.50 and Rs 144 levels.
Dr Reddy's Laboratories:
The share price of Dr Reddy's Laboratories registered breakout from an ascending triangle pattern on Saturday. The stock has also sustained above its cluster of moving averages.
The momentum indicator is also rolling upward. The above mentioned evidences suggest that the stock is likely to head towards the levels of Rs 1,778 - 1,814 in the near future.
We recommend a buy at current level and again on dips up to Rs 1,705—1,718 with a stoploss placed below Rs 1,673.80 for the above mentioned targets.
HDIL:
The price of HDIL has been trading upward after registering 52-week low of Rs 52.05 level. Currently the stock has once again taken support from rising trend line. On the weekly chart the stock has formed a bullish candlestick pattern.
The stock is also trading above its near term moving average. The momentum indicator has exited from oversold zone and registered a fresh breakout.
Traders can look to buy at CMP and again on dips to Rs 70.50 - 71 with a stoploss placed below Rs 69.40 levels for targets of Rs 74.50-76.50 levels.
Godrej Industries:
The price of Godrej Ind. has been trading in a narrow range after registering a high of Rs 283.35 level. This consolidation has taken a form of a descending triangle pattern. In this week the stock has registered breakout from above mentioned pattern.
The stock is also trading above its cluster of moving averages as well as lower Bollinger band. The momentum indicator has turned into buy mode which displays strength in the counter.
Thus, traders can look to buy now with a stop loss placed below Rs 251.80 levels, for the target of Rs 270 -278 - 284.
IRB Infrastructure:
The share price of IRB Infrastructure is about to register breakout from an ascending triangle pattern. The stock is also sustaining above its cluster of moving averages.
On the intraday chart the stock has registered a breakout from a rising inverted head and shoulder pattern. The momentum indicator is gaining upward momentum. The above mentioned evidences suggest that the stock is likely to head towards the levels of Rs 135-138 in the near future.
We recommend a buy sustaining above Rs 129 with a stoploss placed below Rs 124.40 for the above mentioned targets.
Feel free to forward this Op Ed and follow our Blog stock market news today
The Nifty finally closed at 5358, after recording a high of 5366 level. Nifty has closed strongly by witnessing rising gap in Friday's session, which lead index to register weekly close above cluster of moving averages.
Currently the index is forming a rising wedge pattern on daily chart. In the near future index is likely to consolidate at higher levels. The index has an immediate resistance at 5400 followed by swing high of 5448 levels.
On the downside index has strong support in the range of 5310 -5275 levels.
We believe it is a good sign but the pockets of strength remain. Pharma, FMCG and IT continue to remain strong. We believe that this will continue for this series. We look positively in these sectors whether it is Cipla , Aurobindo Pharma or Dr Reddy they all look good in the pharma space. In FMCG, you can carry a position in Dabur , ITC those corrected today but, can be looked at positively. These are the stocks which are looking positive now
* Investors' anxiety may increase as the prolonged wait for much touted reform measures gathers further pace next week, ahead of RBI's policy meeting on Sept. 17.
* Indian stock markets are keenly watching if the government can push forward FDI and fuel price hike via executive decisions as the monsoon session of the grid-locked parliament ends on Friday.
* Markets also await key macroeconomic data next week. July industrial output data to be released on Sept. 12 and August headline inflation on Sept. 14.
* Data points will also be key ahead of RBI's monetary policy review on Sept. 17.
* Markets expect August inflation at around 7 percent and IIP growth to be flat to slightly negative.
* Hopes of Fed launching another bond-buying programme got a boost after ECB's action. Investors will look to U.S. jobs data due at 1230 GMT for further hints.
* Indian stock trading in both Bombay Stock Exchange and National Stock Exchange will be opened for 1-1/2 hours on Saturday, Sept. 8 as the BSE is testing its disaster recovery software.
The top five trading ideas for the week are:
Hexaware Technologies:
The price of Hexaware had registered a breakout from a key resistance during February 2012. Thereafter the stock retested the breakout level and consolidated at higher levels. The share price has broken this consolidation and closed near new 52-weeks high.
The stock has also been sustaining above its cluster of moving averages over the past few sessions of trade which is also a bullish sign. The momentum indicators are in rising trajectory and are in buy mode.
Hence, we recommend buying on dips between Rs 131—132 levels with a stoploss placed below Rs 129.40 levels, for targets of Rs 138.50 and Rs 144 levels.
Dr Reddy's Laboratories:
The share price of Dr Reddy's Laboratories registered breakout from an ascending triangle pattern on Saturday. The stock has also sustained above its cluster of moving averages.
The momentum indicator is also rolling upward. The above mentioned evidences suggest that the stock is likely to head towards the levels of Rs 1,778 - 1,814 in the near future.
We recommend a buy at current level and again on dips up to Rs 1,705—1,718 with a stoploss placed below Rs 1,673.80 for the above mentioned targets.
HDIL:
The price of HDIL has been trading upward after registering 52-week low of Rs 52.05 level. Currently the stock has once again taken support from rising trend line. On the weekly chart the stock has formed a bullish candlestick pattern.
The stock is also trading above its near term moving average. The momentum indicator has exited from oversold zone and registered a fresh breakout.
Traders can look to buy at CMP and again on dips to Rs 70.50 - 71 with a stoploss placed below Rs 69.40 levels for targets of Rs 74.50-76.50 levels.
Godrej Industries:
The price of Godrej Ind. has been trading in a narrow range after registering a high of Rs 283.35 level. This consolidation has taken a form of a descending triangle pattern. In this week the stock has registered breakout from above mentioned pattern.
The stock is also trading above its cluster of moving averages as well as lower Bollinger band. The momentum indicator has turned into buy mode which displays strength in the counter.
Thus, traders can look to buy now with a stop loss placed below Rs 251.80 levels, for the target of Rs 270 -278 - 284.
IRB Infrastructure:
The share price of IRB Infrastructure is about to register breakout from an ascending triangle pattern. The stock is also sustaining above its cluster of moving averages.
On the intraday chart the stock has registered a breakout from a rising inverted head and shoulder pattern. The momentum indicator is gaining upward momentum. The above mentioned evidences suggest that the stock is likely to head towards the levels of Rs 135-138 in the near future.
We recommend a buy sustaining above Rs 129 with a stoploss placed below Rs 124.40 for the above mentioned targets.
Feel free to forward this Op Ed and follow our Blog stock market news today
Related Post:
NCD issue next week september 10 2012
Indonesia stock info - NCD issue next week september 10 2012 ; Religare Finvest Ltd (RFL), a non-banking finance company focused on SME lending, plans to raise Rs 250 crore through Non-Convertible Debenture (NCD) issue next week, its Chief Executive Officer Kavi Arora has said. There will also be a green shoe option of Rs 250 crore, making the total size of the issue Rs 500 crore.
RFL is a wholly-owned subsidiary of Religare Enterprises, which is a listed entity and holding company of the Religare Group.
The fully secured NCD issue has received the SEBI nod recently and the company will begin roadshows early next week, Kavi Arora said.
Investment Options
Investors will have an option to buy NCDs with a tenure of three years or five years. The coupon rates for the NCDs will be decided in the next few days, the CEO said.
The NCDs will be listed on the NSE and the BSE.The company had mopped up close to Rs 750 crore through an NCD issue, around this time last year.
On whether RFL will list its shares, Arora said listing is still couple of years away.
RFL is quite well capitalised for now and has a capital adequacy ratio of 18 per cent. There is enough headroom to grow the business, he said.
In 2011-12, about Rs 350 crore of private equity funds got deployed in RFL, adding to the financial strength of the company.
RFL’s loan book grew 40.22 per cent in 2011-12. For the current financial year, the company is eyeing loan book growth of 18-20 per cent, according to the CEO.
Feel free to forward this Op Ed and follow our Blog stock market news today
RFL is a wholly-owned subsidiary of Religare Enterprises, which is a listed entity and holding company of the Religare Group.
The fully secured NCD issue has received the SEBI nod recently and the company will begin roadshows early next week, Kavi Arora said.
Investment Options
Investors will have an option to buy NCDs with a tenure of three years or five years. The coupon rates for the NCDs will be decided in the next few days, the CEO said.
The NCDs will be listed on the NSE and the BSE.The company had mopped up close to Rs 750 crore through an NCD issue, around this time last year.
On whether RFL will list its shares, Arora said listing is still couple of years away.
RFL is quite well capitalised for now and has a capital adequacy ratio of 18 per cent. There is enough headroom to grow the business, he said.
In 2011-12, about Rs 350 crore of private equity funds got deployed in RFL, adding to the financial strength of the company.
RFL’s loan book grew 40.22 per cent in 2011-12. For the current financial year, the company is eyeing loan book growth of 18-20 per cent, according to the CEO.
Feel free to forward this Op Ed and follow our Blog stock market news today
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