1ST Nov TO 7TH Nov.
Deepinder Kaur Grewal MBA 2C
#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
The system should also consider employing gold
as an international reference point of market
expectations about inflation, deflation and future
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
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
#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.
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
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
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.
#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.
#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
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
Those passing to the next stage will undergo
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.
#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.
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.