May increase rates if inflation doesn’t come within RBI’s comfort zone: Chakrabarty

With inflation still looming large, Reserve Bank of India (RBI) Deputy Governor K C Chakrabarty today hinted the central bank was open to another increase in key policy rates.  During the previous policy review, Governor D Subbarao had indicated the chances of another rate increase were relatively low as inflation was moderate.  “The governor said it might not be necessary. That does not mean if there is a pause you cannot do it (raise rates). If it needs to be done, it can be done; that is his choice,” Chakrabarty said when asked if RBI was open to raising rates despite the pause indication in the November policy.  An accommodative monetary policy was not required at present due to the high growth rate, Chakrabarty said, on the sidelines of a Confederation of Indian Industry event at Kolkata today.

Release the Bhagat Singh coin series, appeals NGO

Chandigarh, Dec 10 – An NGO working to propagate the ideology of freedom fighter Bhagat Singh Friday appealed to Prime Minister Manmohan Singh to release of the currency coins commemorating the martyr. Members of All India Shaheed Bhagat Singh Brigade charged the central government with ‘unnecessarily delaying’ the circulation of these coins that were   minted in the denomination of Rs.100 and Rs. 5. In 2007, the government had announced to issue coins bearing the image of Shaheed-e-azam (great martyr) Bhagat Singh. We have checked with the Reserve Bank of India and found the coins were made in 2008 but till date, the authorities concerned have not given the green signal to bring these out in public,’ organisation chief Yadvinder Singh told reporters

SEBI calls for provisions to protect autonomy

The capital market regulator has sought provisions to ensure the autonomy of regulatory bodies. “It is imperative to make sure there are adequate supportive provisions in the laws and rules to maintain the autonomous character of these institutions,” said C B Bhave, chairman, Securities & Exchange Board of India (Sebi). Bhave’s statement comes close on the heels of a stand-off between the Reserve Bank of India (RBI) and ministry of finance on the issue of autonomy. Early this year, the central bank objected to an ordinance that gave a committee headed by the finance minister overriding powers in the event of inter-regulatory disputes