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Et nov 1....


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Et nov 1....

  1. 1. ET NEWS 1ST Nov TO 7TH Nov. Deepinder Kaur Grewal MBA 2C
  2. 2. #1.World Bank chief moots return to gold standard.  World Bank chief Robert Zoellick on Monday urged the world's leading economies to consider returning to a modified gold standard as fears of an upcoming currency war mount.  The bank boss promoted a system that is "likely to need to involve the dollar, the euro, the yen, the pound and a renminbi that moves towards internationalisation.  The system should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values.
  3. 3. Contdd….  If the domestic policy is optimal policy for the US alone, but at the same time it is not an optimal policy for the world, it may bring a lot of negative impact to the world.  China is concerned that the US Federal Reserve's monetary policy will reduce the dollar's value, handing America the export edge.  China urged examination of the move when the G20 leading economies meet in Seoul this week.  The gold standard is believed to help guard against inflation, but does not allow for the flexible monetary policy which many economists believe is essential in counteracting economic shocks.
  4. 4. #2. Pensioners' woes double, but depositors cry less.  Complaints from pensioners have almost doubled in a year’s time while those from depositors have halved and credit card and direct selling agents have come down.  Banks received as many as 4,831 complaints from pensioners against 2,916 a year ago while depositors’ complaints have reduced from 6,708 to 3,681 in 2010-11.  Banking ombudsmen received a total of 79,266 complaints compared with 69,117 in the previous year, up 14.7%.  Looking forward, a customer service ratingbased approach with quantitative parameters ultimately linked to its capital can serve such a purpose.
  5. 5. Contdd…..  The report shows that the share of complaints have declined for new private banks and foreign banks to 15.1% from 17.5% a year ago.  However, it should be noted that the share of banking assets of foreign lenders declined from 7.2% from 8.5% last year while that of new private banks in India fell from 15.2% to 14.6% a year ago.  The share of complaints from nationalised banks, PSU banks, other than the SBI group, was almost one-fourth against 22.4% a year ago.  Chennai had the highest number of complaints at 12,727 against 10,381 a year ago, followed by New Delhi at 12,045 against 10,473 the previous year. Mumbai recorded 10,558 complaints against 9,631 a year ago.
  6. 6. #3. BMW to launch bikes in India priced Rs 18 lakh onwards.  After 13 years of its first attempt to enter the Indian two-wheeler market through a joint venture with the Hero Group, BMW revealed plans to launch BMW Motorrad.  The German luxury carmaker will start selling the flagship S 1000 RR as well as the R and K series models in December with prices expected to start from 18 lakh.
  7. 7. #4. Pizza chain offers $31,000/hour part-time job.  Take-out pizza chain hiring. Aged over 18, no experience required. Uniform provided. Salary: $31,000 an hour.  As part of a series of events commemorating the 25th anniversary of its arrival in Japan, Domino's Pizza Japan is set to hire one lucky person at the rate of 2,500,000 yen ($31,030) for an hour's worth of work in December.  A company spokesman declined to provide further details until November 10, but the company's website said that anyone who wants the job will need to file an application.
  8. 8. Contdd…….  Those passing to the next stage will undergo an interview.  Hourly pay for part-time jobs in Japan averages just under 1,000 yen ($12.41).  Many of the comments on a Japanese article about the offer noted that the salary was cheap for the probable advertising impact and that there might be better uses for the money, such as raising workers' pay overall.
  9. 9. #5. Ashok Leyland ties up with Himachal Gramin Bank.  Hinduja Group flagship firm Ashok Leyland on Monday said it has tied up with Himachal Gramin Bank to provide customers with finance options for buying commercial vehicles.  Ashok Leyland and Himachal Gramin Bank (HGB) executed a Memorandum of Understanding on Friday in Mandi, Himachal Pradesh,  which offers Ashok Leyland's customers very attractive terms for financing commercial vehicles, Ashok Leyland said in a statement.
  10. 10. Contdd…….  Ashok Leyland has in the past tied up with several public sector banks. Mandi-based HGB with a network of 123 branches, is the latest public sector bank with whom Ashok Leyland has inked an agreement.