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Imperatives of rbi
1.
2. The state of Indian economy during last 50
years
Shows performance of different RBI’s
governor during their tenure
Appointment of Ragu ram Rajan- 23rd
governor of RBI
His main initiatives to save the economy
3. was appointment of 23rdgovenor of RBI
proved fruitful for the Indian economy???
Is RBI saviour of Indian economy?
What are the steps taken by RBIand its
impacts?
4. Recommendation of RBI in 1926 by the royal
commission of Indian currency
RBI act in 1934
First governor of RBI sir Osborne smith
First currency note in 1938
Was under private sector up to 1949(
nationalisation of banks)
5. Nationalisation of banks in 1949
1951 introduction of five year plan
Formation of SBI in 1954
In 1956 system of note issuing was changed
, from proportional reserve system to
minimum reserve system
Amalgamation of banks in 1960
6. 1973-foreign exchange regulation act 1973
was formed
1991- external payment crisis
1991- formation of narasimham committee
1992- concept of treasury bills
7. C
rangarajan(
1992-1997)
Bimal jalan (
1997-2003)
Ym reddy(
2003- 2008)
Dr subbarao(
2008- 2013)
appointment Financial
reforms
Asian
financial crisis
Stable time Collaspe of
gobal
economy- the
great
depression
challenges Development
of economy
control of
inflation, debt
mgt
Global
imbalances
achievements Bop, low
inflation
Tight
monetary
policy
High
monetary
policy
failures Govt blamed
rbi
8. 23rd governor in 2013
Predicted 2008 crisis well in advance
In 2012 appointed as advisor to chief finance
minster
Steps taken by him are:-
Stops rupee falling
Swap window for NRI
Allowed banks to borrow overseas
Appreciation of rupee by 2.5%
9. First 2 months, raised central banks rate to
curb inflation
Mounting WPI, CPI and food inflation
No effect of monetary policy on inflation
Current deficit because of falling of rupee
Large Oil & gold imports
10. Decrease in repo rate (6.75%)
Setup of 11 payment banks
Allowed foreign entities to invest in govt
bonds
Decrease in inflation rate( 4.37%)
Controlled fiscal deficit (3.99%)
Lowering lending rates ( house loan, edu
loan )
11. Enough forex reserve around $355bn
No impact of Greece debt crisis because of
no direct imports
Concept of make in India $ digital India,
every country want to invest here
12. Widening gap between WPI and CPI
Structure of CPI
Food inflation can rise anytime
Hoarding, wastage, uncertainty of rain
Banks may averse to lowering lending rates
due to high NPA and high rate of interest on
SSC
Inflation can increase due to instability in
middle east countries
13. Food inflation cant be controlled by interest
rates
Adversely impacted by devaluation of
Chinese currency
14. RBI has met demand of govt
High time for govt to supplement the efforts
of RBI
Time for India to nurture the benefits of
demand , democracy to prove its potential of
making 21st century- Indian century