Gold Chain

MONETARY POLICY JUNE 2026:  Monetary policy Committee (MPC) meeting held from June 3rd to June 5 2026  unanimously decided to retain policy rates and  the repo rate unchanged at 5.25 % and continue a neutral policy  stance. Accordingly Cash Reserve ratio ( CRR) remained at 3%,SDF  rate  at 5.00%,MSF rate at 5.50 % ,and bank rate at 5.50%.This decision was taken due to factors like heightened globail uncertainties, particularly the ongoing and uncertain conflict in West  Asia which in turn elevated energy prices and inflicted supply chain disruptions.  In the existing scenario RBI lowered its GDP growth projections for  Fy 2026-27 to 6.6 % from earlier 6.9 % level.Quarterly projections of GDP indicated that during Q1 fall in growth projections would be from 6.8 % to 6.6%, in Q2 from 6.7% to 6.3%, in Q3 from 7% to 6.5% and in Q4 from 7.2 % to 6.8 %.It may be noted here that the Provisional GDP estimates released by the Ministry of Statistics an...

OPEC AND OPEC + The Organisation of Petroleum Exporting Countries (OPEC) an intergovernmental Organisation  established on  14th September 1960 in Bhagdhad with initial 5 members  namely Iran, Iraq, Kuwait, Saudi Arabia and Venezuela were instrumental in making wide range  of global impacts in later years  due to heavy dependence of other country's on imports from OPEC members- petroleum products for energy consumption. At present with 11 member nations OPEC is estimated  to control 79.5% of the world's proven oil reserves that are located within OPEC members wherein Middle East alone accounts for 67.2 % of OPEC s total reserves. It may be recalled here that first time forging of oi weapon and exercising of OPEC's cartel's monopoly power were exercised in October 1973 when oil prices were shot up several fold.Obviously non oil developing countries were worst affected.On the other hand advanced economies could neutralized the negative impact  by enhanci...

 INTELLECTUAL PROPERTY  World Intellectual Property Organisation (WIPO) celebrate Intellectual Property Day every year on 26th April since 2000 to create awareness about how  patents, copyrights trademarks and designs impact our day today life.Intellectual property is integral to creation of human mind  which could be incorporated as creative or inventive work like-inventions ,artistic works,books,music, films, designs etc. According to Albert Einstein the creation of human mind is interlinked with power of imagination and the ability to stand on existing foundation of accepted knowledge and see beyond to the next frontier of discovery. In effect that is the source of personal cultural and economic advancement. The idea of Intellectual property originated from the realization that let individuals reap exclusive fruits of human intellect from their knowledge, creativity, expertise, skills, scientific and traditional resources research and work experience. In other wor...

Unfolding of the  Israel-US - Iran  war crisis already started impinging both the global economy and Indian economy particularly in energy, threatening energy security, disrupting trade routes and  widening trade deficit and current account deficit. Energy prices and inflation rates are positively correlated.In India rise in fuel prices, LPG prices both domestic and commercial along with shortage and consequent elevation of price of fertilizers  which is essential ingredients for  farm input etc are bound to make not only higher inflationary trends but also a decline in agricultural output possibly in forthcoming Khariff season.Apart from agriculture,  energy crisis is bound affect a large number of industries and products like textiles, paints, cement, tyres, fertilizers and chemicals etc. Global trade and movements of goods across Red Sea and Suez Canal are being disrupted, necessitating  rerouting via the Cape of Good Hope resulting in 15-20 days ad...

 POLICY RATES Monetary policy Committee (MPC) meeting held in April 2026 decided to retain policy rates maintaining the  neutral policy stance due to heightened geopohaslitical uncertainties in West Asia. According to RBI Governor despite the impact of unprecedented geopolitical disturbances in Middle East and consequent supply chain disruptions the Indian economy remained on a stronger footing policy in comparison with earlier crisis episodes. Accordingly MPC decided to retain rates at the existing rates as -Repo rate at 5.25 ,Standing Deposit facility (SDF) rate 5.00%,Bank Rate and Marginal Standing Facility (MSF) rate both at 5.50%  and Cash Reserve ratio (CRR)  at 3%.RBIs  GDP growth estimates indicated 6.9 % for the financial year 2026-27where in Q1 6.8%, Q2 6.7%,Q3  7.0% and Q4 7.2 % were estimated quarterly projections.Inflation projections indicated that for Fy 2026-27 CPI Inflation is estimated  at 4.6% , likely  to increase to 5.2% in Q3...

 FOSSIL FUEL Fossil fuels  mainly comprising of Coal,Petroleum(black liquid gold), and natural gas contributed  85-93% of global energy production during the period 1950-2005.Traditionally coal was the dominant fuel in mid 20th century  providng nearly half of global energy. However by 1961 petrol overtook  the position as the major source  of energy that  exceeded 50% share of global energy in 1973.Natural gas share also more than doubled from 10%  in 1950  to 24.2% in 2019.It has been observed that by 2019 fossil fuel accounted above 81% of global energy production and it continue to remain above 81% of energy goods consumed.In specific sectors fossil fuel  utilisation remain robust.  The appearence of Petroleum or crude oil, is a blackish  yellow liquid chemical mixture found in geographical formations consisting of mainly hydrocarbons .This  fossil fuel is evolved over millions of  years from decay of organic...