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Voice of India
During a recent visit to Taipei, an advertising professional, on seeing Times of India’s ‘A day in the life of India’ commercial, posed a curious question to me, “how can a commercial be borne out of such a serious issue that affects your society?” In response I explained how the parody on redtapism, far from trivialising the issue of corruption or brushing it under the carpet, resonated strongly with the voice of India. This voice accepted India with all its shortcomings and subsequently dealt with them in an open, transparent manner.

Keep trying
Copenhagen: The world’s best spin-doctors couldn’t put much of a glow on the Copenhagen summit. Representatives of 120 countries gathered in the Danish capital with solemn pledges to draft an international treaty to fight man made climate change, but all that emerged was a vague text with a few good intentions and no firm commitments. It"s not much comfort to think that no treaty might be better than a hastily composed bad one.

News of the day

Big gap in demand-supply of skilled manpower: HR experts
Ruing over the lack of skilled manpower, human resource (HR) professionals said, during a management conference, that more interface between educational institutions and industry should take place. Organised by St. Kabir Institute of Professional Studies (SKIPS), Ahmedabad, the conference focused on "Adding Lasting Value in Uncertain Times...through Human Capital Leadership".
Management

RBI hikes CRR by 75 bps; repo rates untouched

The Reserve Bank of India, in its Monetary Policy review today has hiked the Cash Reserve Ratio (CRR) by 75 basis points (bps) to 5.75 per cent, while holding the repo and reverse repo rates steady in line with market expectations. - Undisbursed loans may lead to rate war, even if RBI tightens - Quarterly statements: Labour of love for governors? - Food inflation rises to 17.4% - Market in a pincer - Non-bank funds cover up for lower credit flow - Govt banks struggle, but private banks"credit growth picks up The CRR hike will be done in two tranches. The first one will be for 50 bps with effect from February 13, 2010, and the balance 25 bps will be effective from February 27, 2010. Eventually, this will drain out Rs 36,000 crore from the system. Repo rate is the rate at which the banks can borrow money from RBI in order to avoid scarcity of funds. Click here to download the entire policy review. The move comes on the back of spiraling inflation. Food inflation touched 17.4 per cent for the week ended 16 January 2010, slightly higher than previous week"s 16.81 per cent. Fuel price index rose to 5.7 per cent while primary articles price index touched 14.66 per cent for the week ended 16 January 2010. A median forecast released by the Reserve Bank of India (RBI) in the pre-policy "Macroeconomic and Monetary Developments: Third Quarter Review 2009-10" yesterday raised the economic growth projection to 6.9 per cent from the 6 per cent projected three months ago. The WPI-based inflation, which rose from sub-zero level last year to 7.3 per cent in December, is expected to cross 9 per cent by the end of March, as indicated by the Chief Statistician of India Pronab Sen.


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