After reports of mounting tension between the ministry of finance and the Reserve Bank of India (RBI) over the autonomy of monetary policy, Ananth Narayan, professor, SP Jain Institute of Management and Research (SPJIMR), said the central bank and the North Block must stop acting like squabbling kids and act with maturity that the country requires at this point in time.Narayan told CNBC-TV18, "It's great that we have fantastic external context right now and that is a huge relief. Iran and oil prices are coming down, China-US possibly making up, dollar weaker and midst of all this, it's the last thing we need that people outside starting to question us."The row was sparked off last week when RBI deputy governor Viral Acharya in a hard-hitting speech warned that undermining central bank's independence could be "potentially catastrophic", possible indication of the RBI being pushed to relax its policies ahead of general elections next year.Close According to media reports, … [Read more...] about Stop acting like squabbling kids: SPJIMR’s Ananth Narayan to RBI and North Block
Guillermo del Toro had quite a year, with his robots-vs-Godzillas blockbuster Pacific Rim doing brisk business on the world stage. Capping this achievement, the director was also invited to animate one of The Simpsons’ opening credits couch gags, an honor reserved for celebrated artists like Bill Plympton and Banksy. Considering how far del Toro knocked it out of the park, however, it seems like the honor is all The Simpsons’. advertisement In recent years, high-profile guests have made the couch gag an event–like when Banksy controversially depicted the South Korean animators of the show drudging under hellish conditions. However, whether viewers know who Guillermo del Toro is or not, they will likely be floored by his take on the opening, which doesn’t even wait until the couch makes an appearance for all sorts of twisted mayhem to break loose. Describing the animated sequence would turn anyone into Saturday Night Live’s Stefon: it’s got … [Read more...] about Guillermo Del Toro’s Couch Gag For “The Simpsons” Is a Monster (It’s All The Monsters)
Amol AgrawalThe Reserve Bank of New Zealand (RBNZ) has long been a pioneer of many things in central banking. The RBNZ pioneered the practice of inflation targeting 30 years ago in 1989 which soon became a gold standard for central banking worldwide. After the 2008 crisis, it continued to be a pioneer in both monetary policy and financial stability.The RBNZ has made another recent change which is interesting and worth exploring for other central banks.Close Till November 2018, the RBNZ senior management comprised one governor, one Deputy Governor (in charge of financial stability) and two assistant governors — one responsible for economics and the head of operations. On November 2, 2018, the central bank reorganised itself and this led to number of assistant governors increasing from two to five. The new functions given to the three new AGs were: governance, strategy and corporate relations; people and culture and chief financial officer. related news RBI supersedes … [Read more...] about Banking | Should RBI have a Deputy Governor based outside Mumbai?
Oil Minister Dharmendra Pradhan on Thursday hinted that public sector firms such as Indian Oil Corporation (IOC) may not be allowed to bid for buying government stake in Bharat Petroleum Corporation Ltd (BPCL), for which a buyer may have to shell out as much as Rs 90,000 crore.The Cabinet Committee on Economic Affairs had on Wednesday decided to sell the government's entire stake in the country's second-largest state refiner BPCL and India's largest shipping company Shipping Corporation of India (SCI).It also approved privatisation of Container Corporation of India while also giving nod to paring stake below 51 per cent in select public sector undertakings but without losing control.Close "Since 2014, we have a clear vision that the government has no business to be in business," Pradhan told reporters here. "We have examples of 2-3 sectors such as telecom and aviation where ushering in private participation has led to customers benefiting from price cuts, efficiency, and better … [Read more...] about IOC, other PSUs not to bid for BPCL, hints Dharmendra Pradhan
Luxury automaker Jaguar Land Rover's chief executive told Reuters he is open to more alliances to lower the costs of developing technology, but is not looking for a full-blown corporate merger."We feel the pressure" from demands to slash carbon emissions and develop electric vehicles, Jaguar Land Rover chief Ralf Speth said in an interview on the sidelines of the Los Angeles auto show.But to the question of whether the company and its parent, Tata Motors Ltd. are seeking a merger for Jaguar Land Rover, Speth said: "The answer is no. We can really survive on our own."Close The British luxury sedan and SUV maker is "always open" to discussions of technology alliances and component sharing with other companies, Speth said. related news OECD trims global 2020 growth forecast BMW orders more than 10 billion euros' worth of battery cells Earlier this year, the maker of Jaguar sedans and Land Rover SUVs agreed with German luxury automaker BMW AG to develop electric car parts … [Read more...] about Jaguar Land Rover chief wants alliances, not a merger