Reserve Bank of India (LIC) @ whatisindia.com

The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The Central Office of the Reserve Bank has been in Mumbai since inception. The Central Office is where the Governor sits and is where policies are formulated. Though originally privately owned, since nationalization in 1949, the Reserve Bank is fully owned by the Government of India. Y Venugopal Reddy, currently executive director of International Monetory Fund will be the new Governor of Reserve Bank of India, succeeding Bimal Jalan.

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The stock market on Tuesday collapsed from the day’s high and even ended 190 points lower in volatile trade on heavy profit sales by investors and a slowdown in FII activity. (Sensex Sheds 190 Points, Hindu, Correspondent or Reporter, Nov 07, 2007)

No doubt, the Rs 55-lakh fine imposed by the Delhi Consumer Commission on ICICI Bank for hiring goons, who beat up a youth with iron rods to recover a loan, is exemplary, it is still not enough. (Taming Recovery Agents, Tribune, Correspondent or Reporter, Nov 07, 2007)

Authorities have fined India’s biggest private bank more than US$130,000 after its loan collectors beat a man with iron rods and dragged him from a car before seizing the vehicle, state officials said Tuesday. (Indian Bank Fined For Violent Loan Collection Method, Daily Times, Correspondent or Reporter, Nov 07, 2007)

Recent events in the markets confirm the suspicion that the stock market tail is wagging the economy dog as never before. (Tail Wagging The Dog, Frontline, V. Sridhar, Nov 07, 2007)

The Reserve Bank of India’s (RBI) bark (a warning to banks on the use of strongarm tactics to recover dues) did not work; so the Delhi Consumer Commission, presumably, felt a bite was in order. Hence its decision to levy a Rs 55-lakh fine on . . . . (Consumer Lending Blues , The Economic Times, Editorial, Economic Times, Nov 07, 2007)

PARTICIPATORY Notes (PNs) are instruments held by entities that are otherwise not allowed to invest in Indian markets by the market regulator, the Securities and Exchange Board of India (SEBI). (All About Participatory Notes, Frontline, Correspondent or Reporter, Nov 07, 2007)

The US Federal Reserve decided to cut interest rates once again in its meeting this week. (Surge And The Rupee, Indian Express, ILA PATNAIK, Nov 06, 2007)

The rise in CRR (cash reserve ratio), the sixth this year, will squeeze some liquidity from the financial system. (Sponging Out The Liquidity, Business Line, D. Murali , Nov 06, 2007)

It is well recognised that, in addition to seed, fertilisers, water and agro-chemicals, credit is an important input for agriculture. (Banks Must Look Beyond Credit To Help Farm Sector, Business Line, G. Chandrashekhar, Nov 06, 2007)

With various factors creating a churn in the export basket, the Government should pause before blindly extending sops to the cribbers. (Export Sobs And Sops, Business Line, Editorial, Business Line, Nov 05, 2007)

There is much euphoria about Sensex touching the 20,000 mark within a short period. (Rising Sensex, Tribune, Jayshree Sengupta, Nov 05, 2007)

THE global oil price peaked at $96 a barrel on Wednesday and then fell to $93 on Friday. (Oil At A New High, Tribune, Correspondent or Reporter, Nov 03, 2007)

Based on the recommendations of the Justice Rajinder Sachar Committee on improving the socio-economic conditions of minorities in India, the UPA government has decided to establish an Equal Opportunities Commission (EOC). (Beyond Lip Service, Hindustan Times, Editorial, HindustanTimes, Nov 02, 2007)

Banks would do well to heed RBI governor Y V Reddy’s advice on unfair pricing of home loans. If substantial improvement is not seen in the next few months or if complaints continue, the central bank should move decisively to discipline banks. (Banks Should Be Transparent , The Economic Times, Editorial, Economic Times, Nov 02, 2007)

Banks are exposed to rising levels and complexity of risks. As banks grapple with implementing an effective risk management framework we take this opportunity to demystify market risk management compliance in line with the RBI guidelines. (Managing Market Risk Step By Step , The Economic Times, Correspondent or Reporter, Nov 02, 2007)

It is not easy being a central banker these days. While capital inflows represent the increasing confidence in the Indian growth story, the sheer magnitude of the inflows is giving the Reserve Bank of India a migraine. (In Control, Telegraph, Editorial, The Telegraph, Nov 02, 2007)

The rise of the Sensex, now exploring 20,000, looks unstoppable. (The Party's Just Begun, Times of India, Editorial, The Times of India, Oct 31, 2007)

Increase in CRR by RBI may have limited impact. (Taming Liquidity , Deccan Herald, Editorial, The Deccan Herald, Oct 31, 2007)

THE relentless capital inflows pushed the BSE Sensex to 20,000 on Monday, making India the 20th nation to achieve this distinction. Managing excess liquidity is a challenge the government faces. (Party At The Bourses, Tribune, Editorial, The Tribune, Oct 31, 2007)

Home and personal loans just got more difficult to get, though they may not get more expensive. On Tuesday, the Reserve Bank of India, in its mid-term review of the credit policy, raised the Cash Reserve Ratio (CRR) to 7.5 per cent, a rise of 0.5 per cent (Rbi Ups Crr, Getting Loans Becomes Harder, Hindustan Times, A N Sudarsan Rao , Oct 31, 2007)