Gold Chain

 Winter of 2015 in Paris witnessed significant achievement of 193 countries and European union coming together for the first time to forge a common strategy to trim green house gas emissions that were irreversibly cracking the  Planet.The Agreement decided to limit global temperature rise to 1.5 degrees Celsius and the pact established a benchmark, a clear goal and path forward to tackle the climate crisis. However the more neglected questions of biodiversity conservation achieved a similar global benchmark  in December 2022 when  in Montreal, Canada where 196 countries signed a landmark deal to  protect and save lands,oceans, and species from pollution, degradation and climate change after more than 4 years of intense debates and discussions. Both these conferences owe their origin primarily to  Rio earth summit in 1992. Planet's rich biodiversity is the result of at least four billion years of evolution that has left all forms of life intricately evo...

 Economic policy making be it - monetary policy, fiscal policy, trade policy or any other variant,  mainly focus on achieving growth in national income ,output and employment on the one hand and maintaining stability in the price level and balance of payment equilibrium on the other.Eventhough both monetary and fiscal policies are utmost important in achieving  growth and stability, generally maintaining price level, exchange rate and balance of Payments equilibrium is  largely the primary task of the monetary policy administered by the country's central bank namely Reserve Bank of India.However there is an inherent conflict between the objectives of economic growth and price stability.For instance when the demand for products and services rises due to increase in investments on a large scale it leads to spurt in incomes consequently leading to  inflationary rise in prices and it will persist with growth of the economy. RBI has already established a monetary pol...

After  the bank nationalisation in1969,India has been witnessing phenomenal expansion of banking sector both in geographical and functional spread of financial system.Inspite of quantitative achievements in resource mobilisation and in extending the credit reach, several distortions crept into the banking and financial system over the years,adversely affecting  productivity, efficiency and profitability. As a result not only several public sector banks and financial institutions became weak but also some started to incurr persistent losses. The major causes attributed to poor profitability of the public sector banks were corruption, political and administrative interference, poor work culture,excess trade unionism and poor customer service.Most significant cause for poor performance and low profitability was the accumulation of bad loans or Non Performing Assets.It has been observed that Indian banking sector initially ignored the problem of NPAs till mid 1990s but since globa...

 After launching digital rupee in wholesale among selected banks on November 1st the retail version of CBDC was followed on December 1st 2022.Initially four banks-SBI, ICICI Bank IDFC First Bank and YES Bank- are participating in the selected four cities namely New Delhi, Mumbai, Bengaluru and Bhubaneswar as  the first Phase of the retail pilot project.  Subsequently 4 more banks will be  added to cover 13 cities in a phased manner, experimenting  on closed user groups(CUG).The aim is to test the efficacy of Digital Currency which is a digital extension of physical rupee. The retail version of e-Re can be used by individuals for all transactions, where they use cash to purchase things, repay debts etc. However in the beginning the uses will be limited to Closed User Groups (CUG) consisting of selected banks, consumers and priority is given to electronic version of cash  to retail transactions potentially available for the use by all - private sector, non fi...