.....The Reserve Bank of India (RBI) deserves kudos for setting out the rationale of its monetary policy of July 31 with painstaking effort. The global situation is increasingly worrisome. Despite all the international confabulations, the world economy has not come out of the quagmire. Never before have central banks, the world over, resorted to such unbridled money creation. The stage is now set for the global storm of 2013......
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