Gold Chain

 The Indo Pacific Economic framework (IPEF) has been launched by the USA at the recent QUAD meeting in Tokyo joined by other QUAD members namely India, Japan and Australia apart from South Korea and 8 other East Asian countries outside QUAD  for prosperity of the region has attracted much attention. India became one important member of the 13 nation economic initiative to strengthen economic partnership among participating nations to enhance resilience, sustainability, inclusiveness, economic growth, fairness and competitiveness in the Indo pacific region.IPEF desires to make  the Indo pacific region an engine of  global  growth. Unlike traditional Free Trade Agreements IPEF won't negotiate tariff or market access and the framework will focus on integrating partner countries broadly focusing in following four pillars. 1.Trade.  In trade it intends to build  high standards,inclusive, free and fair trade commitment and develop new creative approaches in ...

 Foreign Exchange reserves (FER) of Central banks have been receiving much attention in the light of increasing global inflation, supply bottlenecks, depreciation of currencies and declining global output,  trade and investment. Foreign Exchange Reserves are assets held as reserves by the central bank. It consists mainly of foreign currency assets, gold and IMF'S Special Drawing Rights (SDRs).It can also include deposits, bonds, treasury bills and other Government securities.Foreign Exchange Reserves  are  nation's back up funds in case of an emergency like rapid devaluation or depreciation of its currency. Countries' generally use foreign exchange reserves to maintain a  stable rate of value of domestic currency, competitively priced exports, and to provide liquidity in the case of a crisis and dip in confidence for investors.Reserves are also required to pay external debt and to fund sectors of the economy. The main purpose of FER is to keep the  value of...

 In the beginning of human civilization payments made were simple  through direct exchange of goods and services where barter system was prevalent. As civilisation advanced human wants increased and settled life started volumes of goods and services transacted shot up several fold  "Money"came into existence and it has transformed itself into different forms like-ommodity money, metallic money, paper money, and plastic money. Money served the primary functions of medium of exchange and measure of value,and secondary functions of store of value and standard  of deferred payments. Money can also be classified into fiat money- issued by the order of Government,Fiduciary money like cheques and  bills of exchange, full bodied money where intrensic value is same as face value and credit money where value is more than intrinsic value.Gradually in recent years virtual or digital electronic money transactions gathered dynamic proportions. Introduction of digital payments...

  Since 2000 April 26th has been observed as World Intellectual property day by World Intellectual property Organisation (WIPO) every year ,to create awareness about how intellectual property or creations of human intellect  can be utilised into different forms of IP rights like patents, copyright, Trade Marks and designs that affect our day to day life. WIPO this year focus on  the  theme "I P and Youth Innovating For A Better Future ".IP rights are instrumental to encourage innovation and creativity in societies across the globe.IP means the creation of mind which include inventions, literary and artistic works, designs, symbols,  names and images used in commerce. IP is a non physical asset owned by a company or individual. WIPO is a specialized agency of the United Nations that is committed to establishing a balanced and approachable international IP system. WIPO plays a significant role in helping young inventors ,creators and entrepreneurs to use IP to ach...

 According to IMF'S April World Economic Outlook global economic prospects have worsened significantly largely due to Russian invasion of Ukraine causing a tragic humanitarian crisis in Eastern Europe,and the sanctions aimed at pressuring Russia to end hostilities. While global economy was  about to recover from Covid19 pandemic with wide  differences between the recoveries of advanced economies and emerging markets and developing economies, in addition to war,frequent lockdowns in China especially in key manufacturing and export hubs have also caused new bottlenecks in global supply chains. High and more persistent price pressures led to tightening monetary policy in many countries.Consequently risks to economic prospects have increased sharply and policy trade offs became very challenging . The war in Ukraine which triggered costly humanitarian crisis  demands a peaceful resolution. Economic damage from the conflict is expected to significantly slow down economic g...

 Kochu Amma was born as the third daughter of farmer couple Narayanan and Meenakshi in 1923 in a village in Trichur.They had  2 acres of paddy fields and 64 cents of coconut and arecanut plantations. Narayan and daughters were very hard working.But his youngest son was not much interested in farming activities and he moved to Bombay where he could procure job in  a textile mill.Kochu Amma grew up as a very beautiful girl and woman though slightly short. Their locality was surrounded by very poor people belonging to Dalits and Muslim communities. She was very much liked by the the locals and she also encouraged her father to render possible help to the much distressed neighbours. When Kochu Amma became 18 years of age as  already decided by the families she was married to her maternal uncle's younger son Kuttappan who happened to be of same age older by just 6 months. Her maternal uncle Maman was richer in terms of land ,paddy  fields, cows,bullocks, goats etc.Af...

 International Monetary Fund (IMF) was established in 1944 at Bretton Wood International Monetary and financial conference to foster global monetary cooperation, secure  financial stability, facilitate International trade ,promote economic growth and employment and reduce global poverty.  Bretton woods established a payment system based on the US dollar which  defined all currencies in relation to the dollar which itself was convertible into gold or as good as gold for trade($35=1ounce of gold). US currency  effectively functioned as the world currency and acted as the standard to which every other country's currency was pegged or fixed.The system provided a set of unified rules and policies that provided necessary framework to create fixed exchange rate for currencies across the globe. This system worked for many years smoothly. However in late1960s due to inflationary pressures backing the currency by the gold standard became a serious problem for USA. By 1971...