More than onion hike, pricey protein items are the problem – Dr.Gokarn

The Reserve Bank of In dia is seriously worried about the enduring nature of high prices of protein items, which it fears, carries a risk of spilling over to more generalised inflation. This, together with a rise in the prices of commodities globally, may force its hands to hike key policy rates in its quarterly review in January 2011. "Prices of protein items, specially milk, fish, eggs and meat that are not sensitive to monsoon, have been rising steadily. When this happens, and there is a trend, it carries a risk of spilling over to generalised inflation,"  said Subir Gokarn, Deputy Governor, Reserve Bank of India.

Third Quarter Review of Monetary Policy 2010-11 on January 25, 2011

Dr. D. Subbarao, Governor, Reserve Bank of India will announce the Third Quarter Review of Monetary Policy 2010-11 on Tuesday, January 25, 2011.  This will be done in a meeting with the chief executives of major scheduled commercial banks at 11.00 a.m. on January 25, 2011 at the Central Office, Reserve Bank of India, Mumbai.

RBI fines Rupee Co-op Bank

RBI has imposed a monetary penalty of Rs 5 lakh on Rupee Cooperative Bank, Pune, Maharashtra for violation of RBI guidelines. The bank had violated RBI directives by purchasing cheques beyond the ceiling of Rs 0.25 lakh in current accounts.

Bank staff oppose HR policies' recast

All India Bank Employees Association has termed the recommendations of Khandelwal Committee on recast of HR policies for PSBs detrimental to the interest of bank employees. The association will protest march to Parliament on February 23.