-The Telegraph Hands-off RBI cuts forecast The Reserve Bank of India’s policymakers shocked economists, industry and the Street by deciding to hit the pause button on interest rate cuts after five downward revisions this year. The six-member monetary policy committee (MPC) of the central bank also slashed its growth forecast for this financial year to 5 per cent from 6.1 per cent at the October meeting. The decision to retain the policy rate —...
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Instead of gigantic statues, India should build modern schools and universities: Raghuram Rajan
-India Today Raghuram Rajan said India needs to build modern schools and universities that teach its children to be more tolerant and respectful of one another. Former Reserve Bank of India Governor Raghuram Rajan has said Hindu nationalism does not just foment social tensions but also detracts India from its economic growth. Rajan said the Narendra Modi government is no exception to having a tendency "to want more power, especially given the...
More »The opacity around electoral bonds -Trilochan Sastry
-The Hindu If big money entirely funds elections in a secretive way, democracy as we know it will not exist The recent disclosures that the Election Commission (EC) and the Reserve Bank of India (RBI) had expressed reservations about the Electoral Bonds scheme highlight the importance of this issue. In 2017, the then RBI Governor wrote to the then Finance Minister that “allowing any entity other than the central bank to issue...
More »Explained: Why the govt wants to change the definition of MSMEs -Udit Misra
-The Indian Express A change in definition is expected to improve their ease of doing business and help create more jobs. It has been reported that the government will soon change the way it defines the micro, small and medium enterprises (MSMEs). “We will have one meeting and then finalise it (changes to MSME definition),” Union Minister Nitin Gadkari told news agency PTI, adding that extensive changes will be made soon....
More »Curbing black money: Printing of Rs 2,000 notes stopped, says RTI reply -Kumar Vikram
-The New Indian Express According to the central bank’s RTI reply, 3,542.991 million notes of Rs 2,000 were printed during the financial year 2016-17. NEW DELHI: Have you been wondering why the ATMs have been barely dispensing Rs 2,000 notes for last few months? That’s because the printing of the high-value note has been stopped, the Reserve Bank of India informed this newspaper in reply to an RTI query. The Bharatiya Reserve Bank...
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