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| “The RBI is one of the most respected monetary authorities… I am confident they (RBI) will adjust the monetary policy as we are adjusting fiscal policy,” |
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The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
Sunday, June 17, 2012
FM hopes RBI will keep eco situation in mind, adjust policy
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Bank notes: RBI considers other noteworthy icons
......"The recommendation to print the image of Mahatma Gandhi on the watermark/banknotes was made by the Central Board of RBI in 1993 which was later approved by the Government of India," an RBI spokesperson said. Roy felt that the RBI wasn't doing justice to a country as diverse as India by not showcasing anything else on its currency bills. Dilip Rajgor, a scholar and the author of several books on numismatics, agreed. "India is home to several monuments, dance forms, religions, great scientists. Why are we not considering them on our coins and notes?" he asked. In fact, Rajgor rued that the RBI didn't have any numismatist on the board that approved the design of coins and notes. "Some African countries have Mahatma Gandhi's image on their coins; others have the Taj Mahal; Nepal has the Buddha on some coins," he added. But RBI's ex-governor Bimal Jalan says printing a particular leader's image is decided by the sentiments of the respective nations or states and India is no exception.......
Monetary Governance : Book review by P.P.Ramachandran
Dr. Vasudevan is Adviser on monetary policy to the Central Bank of Nigeria. He held exalted positions in IMF and had served in Reserve Bank of India in several capacities, including that of Executive Director. His book ‘ Central Banking for Emerging Market Economies’ is considered to be the Bible for Central Bankers. He is a prolific writer and imparted a new shape, colour and content to the earlier drab RBI publications, like the Monthly Bulletins and several other Reports
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Multi-currency travel cards gain popularity
......The spate of multi-currency card launches has raised doubts if the lenders would continue to offer single-currency cards. While bankers claim they are not in a hurry to phase out single-currency cards, they admit that customers now prefer multi-currency cards as they don’t have to carry more than one card during foreign travel....
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Rural women score in number, urban counterparts in quantum
Women in the rural areas held more bank accounts than their counterparts in semi-urban, urban and metropolitan areas. A total of 5.25 crore accounts had been opened by rural women as of March 2011, according to the latest RBI report on “Basic Statistical Returns of Scheduled Commercial Banks in India”......................
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The whats and whys of currency depreciation
........Under a flexible exchange rate system, the value of currency is determined by its demand and supply. The central bank does not interfere in the market to offset demand or supply factors. Currently, the RBI follows a policy that leans more towards a flexible system.
A new core inflation measure
.........Since March 2010, the Reserve Bank of India (RBI) has been using non-food manufacturing inflation (NFMI) as a core inflation measure for India. NFMI is computed by excluding the prices of primary articles, fuel group and processed food from the WPI. We believe that core inflation measurement for India can be improved by making two changes to the current measure. .....
Odisha: RBI recognized Cooperative Central Bank of Aska
Bhubaneswar: The Cooperative Central Bank of Aska has been extended RBI recognition recently. With the recognition, the cooperative bank, which has been providing loans mainly agricultural loans amounting to Rs 100 crores, can now extend commercial loans............
How the RBI meet on Monday could affect borrowers and retired individuals?
The Reserve Bank of India (RBI) will review its Monetary Policy on June 18, 2012. In this meet it is likely that the RBI could cut the repo rate and/or the CRR. A cut in the repo rate (the rate at which RBI lends money to banks) and the CRR (a proportion of deposits that banks have to keep with RBI), would ensure that cost of funds for banks get cheaper..........
Growth is not in RBI’s hands; but a short rally is possible
.....In India we have the Reserve Bank standing alone trying to fight inflation with tight money, on the one hand, but on the other hand, deficit financing by the government loosens money supply. Then we have the government refusing to deregulate and create growth that could not only lick inflation but cut deficits through increased tax receipts. So as one looks at the RBI for relief, don’t expect anything that will give investors the confidence to take a long term view of the economy.........
Kharif MSPs: Subbarao ‘ka bad luck heech kuch kharab hai’
......An individual mouthing the same lines like Aamir Khan in Rangeela 17 years back, right now, must be Duvvuri Subbarao, the governor of the Reserve Bank of India (RBI). The government of India seems to be in the mood to make his job tougher by the day..........
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Do interest rate changes matter?
........The patterns so far suggest that, if the RBI does bite the bullet and deliver further rate cuts in this policy, one can expect an impact on industrial output twelve months down the line. However, in that regard, they might have to keep in mind that “patience is a virtue”.
3 reasons to justify rate cut on June 18
......In particular, a clear source of solace for RBI is that even though the rupee has depreciated significantly in recent months, imported inflation has actually declined progressively to 9.5% in May 2012 from a high of 13.8% in November 2011 (possibly factoring in the decline in crude prices from a high of 125$/bbl to less than 100$/bbl over this period). This trend is discernible and is likely to provide much-needed elbow room to RBI to cut rates in the forthcoming policy.......
Bias to remain positive
Amid economic and political developments, markets recorded choppy movement this week. The outcome of the elections in Greece and the Reserve Bank of India’s policy review on Monday are likely to decide market trends next week.......................
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Junking of the Indian economy
The prospect of the prime minister running the finance ministry, with help from the Montek-Ranjarajan duo is making Indian businessmen jittery. With the economic indicators worsening every week, a large section of India Inc feels that managing the economy is a full time job and needs a strong, reform minded helmsman at North Block..............
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Nationalized banks come to farmers' rescue
...... meeting of the state-level banking committee (SLBC) called by Chavan on Thursday in Mumbai agreed to fill up the gap in farm loans sector created by the inability of the six DCCBs to carry on operations following restrictions imposed on them by the Reserve Bank of India. These cooperative banks, which had gone deep into red following the old government-securities scam as well as other bad loans, were put on a leash recently by the RBI......
Pink Panther Manmohan has another stroke of luck
..........Narasimha Rao became PM as the Congress power-brokers couldn’t agree on anyone else. Rao’s first choice for FM was apparently IG Patel, a former RBI Governor and Director of the London School of Economics, but he said no. Manmohan was in...........
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Canara Bank Recruitment of Clerks Project 2012
Canara Bank will start its recruitment process for filling up 2000 vacant posts of Clerical Cadre from 18 June 2012. The recruitment process of the bank will end on 1 July 2012. Candidates who have completed their Graduation/ Higher Secondary School and have a valid IBPS Score card can apply for the post..............
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