Reserve Bank of India (Rbi)
Reserve Bank of India (Rbi)
Reserve Bank of India (Rbi)
A
Project Report
submitted
in partial fulfillment
for the award of the Degree of
Bachelors of Technology
Submitted By:
Monika Mehta
I.T. IV year
April, 2010
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Preface
Reserve Bank of India, the Central Bank of the country, is at the center of the Indian
Financial and Monetary system. RBI is among the oldest among the developing
countries. It was inaugurated on April 1, 1935 as a private shareholders institution under
the Reserve Bank of India Act 1934.
It was nationalized in January 1949, under the Reserve Bank (Transfer to Public
Ownership) of India Act, 1948. This act empowers the central government, in
consultation with the Governor of the Bank, to issue such directions to RBI as might be
considered necessary in the public interest. RBI is governed by a Central Board of
Directors with 20 members consisting of the Governor and the Deputy Governors. The
Governor and the deputy Governors of the Bank are Government of India appointees.
The preamble to the Reserve Bank of India Act lays down the purpose of establishing
RBI as “to regulate issue of Bank notes, to keep the reserves with a view to securing
monetary stability in India and generally to operate the currency and credit system of the
country to its advantage”.
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Table of Contents
Preface....................................................................................................................................................3
Table of Contents....................................................................................................................................4
1. RBI: Reserve Bank of India....................................................................................................6
2. Role of RBI in Indian Financial System................................................................................7
2.1 Issue of Notes:.............................................................................................................................7
2.2 Banker, Agent and advisor to the Government:...........................................................................8
2.3 Banker’s Bank:..........................................................................................................................11
2.4 Custodian of Foreign Exchange Reserves:.................................................................................11
2.5 Regulation of Banking System:..................................................................................................12
2.6 Clearing House Functions..........................................................................................................14
2.7 Credit Control............................................................................................................................14
2.8 Other Functions..........................................................................................................................15
3. RBI Financial Fraud monitoring:........................................................................................17
4. Role of RBI in Inflation Control...........................................................................................20
RBI takes measures to control inflation in 2005.......................................................................22
RBI takes measures to control inflation in 2007.......................................................................23
RBI takes measures to control inflation in 2008.......................................................................24
Appendix A: Glossary.....................................................................................................25
Appendix B: References..................................................................................................26
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List of figures:
Figure 1. The RBI headquarters in Mumbai.......................................................................6
Figure 2. Currency Garland................................................................................................8
Figure 3. Reserve Bank of India.........................................................................................9
Figure 4. RBI Banker's Bank............................................................................................11
Figure 5. Custodian of Foreign Exchange Reserves.........................................................12
Figure 6. Clearing House Functions.................................................................................14
Figure 7. Credit Control....................................................................................................15
Figure 8. Financial Fraud..................................................................................................18
Figure 9. Financial Fraud Monitoring...............................................................................19
Figure 10. INR Value against USD..................................................................................21
Figure 11. India - Inflation rate (consumer prices) (%)....................................................23
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The Reserve Bank of India (RBI, Hindi: भारतीय रिज़र्व बैंक) is the central bank of India
and controls the monetary policy of the rupee as well as 287.37 billion US-Dollar (2009)
currency reserves. The institution was established on 1 April 1935 during the British-Raj
in accordance with the provisions of the Reserve Bank of India Act, 1934 [1] and plays an
important part in the development strategy of the government.
It was inaugurated as a private shareholders institution under the Reserve Bank of India
Act 1934. It was nationalized in January 1949, under the Reserve Bank (Transfer to
Public Ownership) of India Act, 1948. This act empowers the central government, in
consultation with the Governor of the Bank, to issue such directions to RBI as might be
considered necessary in the public interest.
(Source: http://en.wikipedia.org/wiki/Reserve_Bank_of_India)
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RBI took a leading role in designing and implementing policies for agricultural and
industrial development and for laying the foundations for financial markets. Some of
today’s premier development and market institutions such as the National Bank for
Agriculture and Rural Development (NABARD), the Industrial Development Bank of
India (IDBI) and the Unit Trust of India (UTI) had their beginnings as specialized
departments and divisions within the RBI. When RBI started in 1935, there were just
three departments, namely the Banking Department, the Issue Department and the
Agricultural Credit Department. Today, RBI has 26 departments in the Central Office,
have 26 regional and field offices across the country, four subsidiaries (BRB Note
Mudran Press Ltd., DICGC, NABARD and NHB,) and a staff of over 20,000 employees.
Today, RBI is the monetary authority, and regulator and supervisor for banks and non-
banking financial companies. RBI is the issuer of currency and the debt manager for the
central and state governments. Besides, RBI manages the country’s foreign exchange
reserves, manage the capital account of the Balance of payments, and design and operate
payment systems. RBI also operates a grievance redressal scheme for bank customers
through the Banking Ombudsmen and formulates policies for treating customers fairly.
The reserve Bank of India is the central bank of India. Therefore, it performs all those
functions which are essentially being performed by the central bank of a country. The
important functions of the reserve Bank of India are as follows:
The reserve Bank of India enjoys monopoly in the issue of currency notes as central Bank
of the country. All the currency notes except one rupee note are issued by RBI. One rupee
note and all coins of small magnitude are issued by the Government of India and are
circulated through the Reserve Bank of India. The RBI Act permits RBI to issue notes in
the denominations of rupees 2,5,10,20,50,100,500,1000,5000,10,000. Although the RBI
had issued all these denominations, but at present notes of all denominations except 5,000
and 10,000 are being issued in circulation.
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(Source: http://indiwo.in.com/media/images)
The RBI has established a separate department for this purpose known as issuing
department. The basis of note issue is minimum Reserve system. The RBI has been
issuing currency notes on the principle of banking system, in which cent per
gold/precious metals reserves are not required. In this system RBI have to maintain a
minimum reserve of Rs. 200 crore as security against note issue. In which a minimum
reserve of Rs. 115 crore has been maintain in gold and remaining Rs. 85 crore reserve in
foreign securities. The value of gold reserve held by the issue department has not been
less than Rs. 85 crore at the time of an emergency.
The reserve bank of India acts as the banker, agent and advisor to the Government of
India.
RBI as banker:
It accepts payments for the account of the union and state governments and also makes
payments on behalf of the Government. On behalf of the Government, RBI carries
remittances, managing foreign exchange reserves and public debts and other banking
operation. It also makes way and means advances to the central and state Government
repayable within three months. The reserve bank of India carries out agency functions of
the Government as the commercial banks carries out on behalf of their customers.
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RBI as Agent:
The state Bank of India works as an agent of the RBI where its offices do not exist. The
RBI does not charge any fee for its operation from the Central and state Governments. It
also does not pay any interest on the deposits of the central and state Government
accounts. The reserve Bank, as the agent of the Government, issues Government
securities to the public and collects money on behalf of the Government.
(Source: http://www.bizaims.com/files)
It also manages public debts to the central and state Governments. The RBI pays interest
on the securities and redeemed at the time of maturity and also maintains accounts of this
effect. The RBI also issues treasury bills of Government for three months.
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RBI as advisor:
The RBI is also authorized to make to the central and state Government, ways and means
advances which are repayable in three months. It not only advises Govt. on all monetary
and banking issues but also on a wide range of economic issues including those in the
field of planning and resource mobilization.
It also manages foreign exchange reserves to meet the important requirement. Thus, RBI
acts as the custodian public debts. It also advises Govt. in the matters of agriculture
credit, cooperation, banking and credit and investment of funds.
WAMA:
The issue, management and administration of the public debt of the Government is a
major function of the RBI for which it charges a commission. The objective of the debt
management policy is to raise resources from the market at the minimum cost, while
containing the refinance risk and maintaining consistency with the monetary policy
objectives, to bridge temporary mismatches in the cash flows (i.e. temporary gaps
between receipts and payments), the RBI provides Ways and Means Advances
(WAMAs). The maximum maturity period of these advances is three months.
Secured advances, which are secured against the pledge of central Governments
securities and
In addition to WAMAs, the state government make heavy use of overdrafts from the RBI,
in excess of the credit limits (WAMAs) granted by the RBI. Overdrafts are, in a way,
unauthorized WAMAs drawn by the state governments, on the RBI.
In fact, the management of these overdrafts is on of the major responsibilities of the RBI
these days. The interest charged by the RBI on the WAMAs is related to a graduated
scale of interest based on its duration. Overdrafts upto 7 days are charged at the bank rate
and an interest of 3 per cent above the bank rate is charged from the 8th day onwards.
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As an apex bank the RBI acts as banker of the banks and lender of the last resort. Under
the RBI Act, the bank has been vested with extensive powers of supervision and control
over all scheduled commercial and cooperative banks. Once the name of a bank is
incorporated in the second schedule of the RBI Act, it becomes entitled to refinance
facility from the RBI. Under the act, every schedule bank is required to keep with the
RBI a cash balance of 5% of its total demand and time liabilities as cash reserve ratio.
Now, CRR has reduced from 5% to 4.75 with effect from 16 November, 2002.
(Source: http://fadeawaynever.com/index)
The cash reserve ratio may be between 3 to 15% as decided by the Reserve Bank. This
provision is also applicable on non-scheduled banks. This provision of cash reserve
enables the Reserve Bank to control credit which is created by commercial banks. In case
of need of funds, commercial banks can borrow funds from Reserve Bank on the basis of
eligible securities or get financial accommodation in times of need or stringency by
rediscounting their bills of exchange. Therefore, commercial banks always look upon the
Reserve Bank at the Time of financial crisis
One of the important functions performed by the Reserve Bank is that of external value
of the rupee. Apart from adopting appropriate monetary polices for the economic stability
in the country and thereby exchange stability in the long-term, the Reserve Bank has to
ensure that the normal short-term fluctuations in trade do not affect the exchange rate.
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(Source: http://www.zahipedia.com/wp-content/uploads/2009/11)
This is secures by the centralization of the entire foreign exchange reserves of the country
with the Reserve Bank of India. In order to maintain stability in exchange rates, the
Reserve Bank enter into foreign exchange transactions. It also administers foreign
currency for the central Government, state Govt. and Indian embassies in foreign
countries. There is a separate department for this purpose in RBI known as “Exchange
control currencies and tries to maintain balance between the demand and supply of
foreign exchange. The Reserve Bank is also authorized to buy and sell foreign exchange
from and to scheduled banks.
The prime duty of the reserve Bank is to regulate the banking system of our country in
such a way that the people of the country can trust in the banking Up to perform its duty.
Licensing:
According to the section 22 of the Banking Regulation Act, every bank has to obtain
license from the Reserve Bank. The Reserve Bank issues such license only to those banks
which fulfill condition of the bank should be strong. The RBI is also empowered to
cancel the license granted to a bank works against the interests of the depositors.
Management:
Section 10 of the Banking Regulation Act embowered the Reserve Bank to change
manager or director of any bank if it considers it necessary or desirable.
Branch Expansion:
Section 23 requires every bank to take prior permission from Reserve Bank to open new
places of business in India or ro change the location of an existing place of business in
India or abroad.
Under Section 35, the Reserve Bank may inspect any bank and its books and its books
and accounts either at its own initiative or at the instance of the Central Government. If,
on the basis of the inspection report submitted by the Reserve Bank Central Government
is of the opinion that the affairs of the bank are being conducted to the detriment of the
interests of depositors, it may direct to the Reserve Bank to apply for the winding up of
such bank.
Section 35(A) of IBR Act confers powers to RBI to issue direction or to prevent the
affairs of the being conducted in manner detriment to the interests of the depositors or in
a manner prejudicial to the interests of the bank or to secure proper management of the
bank.
Section 36 confers powers on the RBI to caution or prohibit banks against entering into
any particular transaction and generally give advice to any bank. It may pass orders
requiring the bank to carry out the specified instructions. In order to develop a strong
banking structure in the country the RBI promotes amalgamation or merger of weak
banks so that they can develop as a strong bank.
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Section 38 of the Act empowered RBI to request to High Court to windup the bank which
has no hopes of improvement.
The RBI operates clearing houses to settle banking transactions. The RBI manages 14
major clearing houses of the country situated in different major cities. The State Bank of
India and its associates look after clearing houses function in other parts of the country as
an agent of RBI.
(Source: http://www.thehindubusinessline.com/2005/08/11)
Credit control is a very important function of RBI as the Central Bank of India. For
smooth functioning of the economy RBI control credit through quantitative and
qualitative methods. Thus, the RBI exercise control over the credit granted by the
commercial bank. The reserve Bank is the most appropriate body to control the creation
of credit in view if its functions as the bank of note issue and the custodian of cash
reserves of the member banks.
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(Source: http://corporateaxisltd.com/ESW/Images)
Agriculture Credit:
All matters relating to agriculture credit are looked after by RBI before the establishment
of NABARD in 1982. Now all functions relating to agriculture and rural development are
performed by NABARD.
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Industrial Finance:
The RBI has contributed in the share capital of industrial finance institutions such as
Industrial Finance Corporation of India, Industrial Development Bank of India, State
Finance Corporations etc. Thus RBI indirectly contributes in the field of industrial
finance.
Publication of Data:
The RBI publishes statistics regarding money, price, finance etc, in its periodicals. This
provides valuable information for Govt., business and industries. This information is
helpful to take decisions. The important publications of RBI are the Reserve Bank of
India Annual Report, currency and finance, trends and progress of Banking etc. At
present, there are more than 100 publications of RBI.
The RBI has been organizing various educations and training programs for bank
employees and officers. ‘Banker Training College’ Mumbai has been setup by RBI for
the training of Bank officers. Other important training institutes such as “College of
Agriculture Banking (Pune), Reserve Bank staff Training College (Chennai) etc. had
been setup by the RBI. RBI had also setup regional training centers at Mumbai, Kolkata,
Chennai and Delhi.
Remitting Facility:
Reserve Bank provides remitting facilities to the central Government, state Government
and semi-Government institutions free of cost. It also provides this facility to cooperative
banks free of cost.
Conversion of currency:
The RBI converts spoiled currency in to fresh currency. It also provides facilities to
convert currency notes into small denominating coins.
To accept Deposits:
The RBI accept deposits from Central and state Government’s institution and individual
persons without paying interest.
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All international economic transactions are being made through RBI. RBI opens its
accounts in the central bank of member countries of IMF. It also deals with IMF, World
Bank and other international financial institutions.
In order to fulfill its obligations, RBI buys and sells precious metals, gold coins etc. RBI
can borrow funds by mortgaging these precious metals.
RBI has played an important role in expansion of banking facilities in the rural areas of
the country. At the end of June, 2001, there are 65,931 bank branches are situated in
country, out of which more than half of the branches are situated in rural areas. At the
end of 2000, on an average there were only one bank branches at a population of 5,000 in
the country.
The RBI provides development finance for the different parts of the economy. It leads
economic development of the country as a whole.
The system of internal control and follow-up in respect of cases of large frauds of Rs.1
crore and above reported to the RBI is reviewed periodically. The emphasis on house
keeping aspects has helped in detecting large frauds and instituting fraud prevention
measures.
All cases of frauds involving large amounts are analyzed to identify the contributory
factors and taken up with the banks concerned for remedial measures. The aspects
relating to recovery, staff accountability and improvement in internal controls are also
pursued with the banks which are advised in the process to report the fraud cases to
Police/CBI, if not already done. Detailed instructions have been issued by Reserve Bank
of India towards streamlining fraud prevention and control/monitoring system.
(Source: http://www.bestblogsite.org/images/blogs)
With a view to expediting the investigation of fraud cases, RBI reports cases involving
Rs. 1 crore and above as also those revealing inter-state ramifications irrespective of the
amounts to CBI. The banks are advised to examine staff accountability aspect in all cases.
Obtaining photographs of accountholders while opening accounts is one of the measures
introduced to control frauds.
In-depth examination of large value frauds reported by commercial banks was conducted
by a Study Group under the Chairmanship of CMD of a public sector bank. The group
indicated common types of frauds by giving the modus operandi thereof and
recommended several measures for early detection and prevention of frauds including
recommendations for improvement in internal control, house-keeping, vigilance,
management, etc.
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Apart from implementing the recommendations the banks were advised to adopt certain
measures to avoid delay in reporting. It has also been decided that if large value frauds
were due to non-observance of prescribed internal control system, certain restrictions are
to be placed on opening of new branches by these banks. The banks have been advised to
scrupulously follow the time limit laid down by Chief Vigilance Commissioner (CVC)
and the position of adherence to CVC guidelines reviewed by their board on a quarterly
basis. If these guidelines are not strictly followed, the concerned banks should furnish a
report to the CVC.
(Source: http://www.whistlebloweragainstfraud.com/images/nav_pages)
An Advisory Board on bank frauds was set up by the Governor, RBI with effect from
March 1, 1997 under the Chairmanship of Shri S.S. Tarapore, former Member of BFS
and Deputy Governor of RBI and five members drawn from areas such as law,
administration, police, professional accounting and commercial banking. The Board has
since been converted as Central Advisory Board on Bank Frauds and functions as part of
the Central Bureau of Investigation (CBI) of Government of India.
The Board advises on the cases referred by the CBI either directly or through the
Ministry of Finance for investigation/ registration of cases against bank officers of the
rank of General Manager and above. The Department of Banking Supervision is
providing the secretarial assistance and RBI meets the cost of the functioning of the
Board.
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Inflation arises when the demand increases and there is a shortage of supply. So by
anyways if government is able to reduce the money in the hands of the people it will be
able to reduce the demand as the purchasing power of the people will reduce. There are
two policies in the hands of the RBI.
. When the bank increases the interest rates than there is reduction in the borrowers
and people try to save more as the rate of interest has increased.
Fiscal Policy: It is related to direct taxes and government spending. When direct taxes
increased and government spending increased than the disposable income of the
people reduces and hence the demand reduces.
1949-1975:
Since 1949, India ran into trade deficits that increased in magnitude in the 1960s. The
Government of India had a budget deficit problem and therefore could not borrow money
from abroad or from the private sector, which itself had a negative savings rate.
As a result, the government issued bonds to the RBI, which increased the money supply,
leading to inflation.
In 1966, foreign aid, which was hitherto a key factor in preventing devaluation of the
rupee, was finally cut off and India was told it had to liberalize its restrictions on trade
before foreign aid would again materialize. The response was the politically unpopular
step of devaluation accompanied by liberalization.
The Indo-Pakistani War of 1965 led the US and other countries friendly towards Pakistan
to withdraw foreign aid to India, which further necessitated devaluation. Defense
spending in 1965/1966 was 24.06% of total expenditure, the highest in the period from
1965 to 1989. This, accompanied by the drought of 1965/1966, led to a severe
devaluation of the rupee. Current GDP per capita grew 33% in the Sixties reaching a peak
growth of 142% in the Seventies, decelerating sharply back to 41% in the Eighties and
20% in the Nineties.
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Some other excuses that were generally offered were - War with China in 1962 and with
Pakistan in 1965 and 1971; a flood of refugees from East Pakistan in 1971; droughts in
1965, 1966, 1971, and 1972; currency devaluation in 1966; and the first world oil crisis,
in 1973-1974, all jolted the economy.
In 1991, India still had a fixed exchange rate system, where the rupee was pegged to the
value of a basket of currencies of major trading partners. India started having balance of
payments problems since 1985, and by the end of 1990, it found itself in serious
economic trouble. The government was close to default and its foreign exchange reserves
had dried up to the point that India could barely finance three weeks’ worth of imports.
As in 1966, India faced high inflation and large government budget deficits. This led the
government to devalue the rupee.
(Source: http://upload.wikimedia.org/wikipedia/commons/thumb/9/90)
Revaluation
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In the period 2000–2007, the Rupee stopped declining and stabilized ranging between 1
USD = INR 44–48. In recent times, the Indian Rupee had begun to gain value and by
2007 traded around 39 Rs to 1 US dollar, on sustained foreign investment flows into the
country. This posed problems for major exporters and BPO firms located in the country.
The trend has reversed lately with the 2008 financial crisis.
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The changes in the relative value of the rupee has reflected that of most currencies, eg the
British Pound, which had gained value against the dollar and then has lost value again
with the recession of 2008.
Indian bonds were little changed after a government report showed inflation accelerated
for a seventh week in eight. The rate of wholesale price inflation was 4.75% in the week
ended Oct 29. Economists expected the figure to be at 4.5%. The inflation rate was
4.49% the previous week. The yield on the 7.37% bond due 2014 was 6.98% which was
not changed much in spite of the report.
India's inflation rate accelerated to 4.75% in the week ended Oct 29 from 4.49% in the
previous week as the cost of fruit and vegetables rose. The wholesale price index rose
0.3% to 198.3 from 197.7 in the previous week.
The Reserve Bank of India (RBI) on Oct 25 announced a quarter- point increase in the
key reverse repurchase rate at which it borrows overnight to 5.25%, the third in a year, to
keep inflation within its forecast of between 5% and 5.5% by March 31. It predicted that
persistent high oil prices will force the government to raise fuel costs, pushing inflation
higher. For the week ended Sept. 3, the government raised the inflation rate to 3.64%
from 3.16%. The government sometimes adjusts two-month-old inflation figures because
of a lag in prices.
Governor YV Reddy has stated that India's inflation rate is within the expectations of the
central bank which expects the rate to be between 5% and 5.5% by year-end.
The central bank lent money to banks at its daily repurchase auction, when it buys
securities from lenders for a short period, temporarily injecting funds. The bank added Rs
2440 crore to the banking system. A mismatch between demand and supply of money
with banks came about because the estimation of liquidity wasn't advanced enough.
Frictional liquidity issue arises because in a system, in a fragmented market, the liquidity
assessment by various players is not advanced yet.
The central bank will expedite the introduction of a second repurchase auction during the
day for better liquidity management, he said.
On the other hand, finance minister P Chidambaram has announced that India's banks
will need to raise Rs 60,000 crore ($13 billion) of capital in the next five years to meet
expanding demand for credit and fuel economic growth. The nation's banks should boost
lending to finance at least 50% of gross domestic product, from 35%.
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To achieve that goal, banks would need an additional Rs 60,000 crore of capital, the
minister said in a speech.
(Source: http://www.indexmundi.com/g/g.aspx?c=in&v=71)
The Reserve Bank of India (RBI) does not bring any changes in its key signaling rates
in its annual policy statement for 2007. The apex bank seems to pave the way for more
foreign exchange outflows and restricts the inflow to cut inflation.
It has set a challenging inflation target of 5 per cent for the current year and expects to
woo further monetary tightening with the continuing breach. The RBI has also increased
the amount of cash banks are required to keep with it by 150 basis point to 6.75 percent
of deposits. Also, it has given a push to repo rate as well which is now 7.75 percent.
There will be no further tightening, says the RBI. The RBI has taken two broad measures
to keep a close scrutiny on net foreign exchange inflows.
First, it is making hard efforts to discourage foreign currency inflows by tightening the
norms for Non Resident Indians (NRIs) investments. Second, it has encouraged greater
outflows by companies and individuals. Putting the same efforts to control inflation, the
RBI has reduced the interest rates that banks can pay on NRI deposits by 50 basis points.
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The ceiling on overseas investments by companies has been increased to 200 per cent of
their net worth from 200 per cent and by mutual funds to $4 billion from $3 billion.
The RBI has also reduced its medium-term inflation goal to 4.0-4.5 per cent from 5
percent. The inflation is believed to be ruling above 6 per cent since December 2006,
which has actually persuaded the central bank to ponder over tightening the monetary
measures during the period.
As such, the finance ministry has all praises for the RBI for taking significant steps and
right decisions to control inflation without hurting economic growth rate.
Inflation has soared to 8.75 per cent for the week ended May 31. It is set to cross the 9
per cent mark when the official data is released on June 20, which reflect the impact of
hike in fuel prices, according to analysts.
As part of inflation control measures, the Reserve Bank of India had last week increased
the repo rate to 8 per cent, prompting the banks to consider a rise in lending rates for
consumers and industries.
The continuous rise in inflation has forced the banks to increase interest rates which
analyst feel could further add to the cost factor. However, the monetary measures are
aimed at cooling the high demand which is pushing up prices.
Most of the banks have the prime lending rates pegged at around 13 %. Besides raising
the short-term lending rate (repo rate), RBI had also sucked over Rs 27,000 crore out of
the economy by increasing the Cash Reserve Ratio by 0.75 per cent in three phases.
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Appendix A: Glossary
Term Definition
CBI Central Bureau of Investigation
Appendix B: References
http://www.rbi.org.in
http://en.wikipedia.org/wiki/Economic_history_of_India#Republic_of_India
http://answers.yahoo.com/question/index?qid=20090226221345AAN11hD
http://searchandhra.com/politics/rbi-steps-in-to-control-inflation
http://www.nrirealtynews.com/stories/apr07/check-inflation-control-measures-
rbi.php
http://www.indexmundi.com/g/g.aspx?c=in&v=71
http://en.wikipedia.org/wiki/History_of_the_rupee
http://www.livemint.com/2008/06/10221118/Inflation-a-short-history.html
https://www.cia.gov
http://images.google.co.in/images