India Summary

Tuesday, July 27, 2010 11:10 AM Suresh

India Summary

Reserve Bank of India (RBI) Recruitment 2010 for Executive Interns at www.rbi.org.in
RBI Reverse Repo Rate – RBI First Quarter Review of Monetary Credit Policy 2010-11
KUK BA 1st Year Result 2010 at www.kuk.ac.in
HP Board JBT Result – JBT Result Himachal Pradesh – HPSEB Dharamshala Result of JBT CET 2010 – hpeducationboard.nic.in
WB 12th Class Results 2010 : WBCHSE HS PPS/ PPR Results 2010 : www.wbchsc.nic.in
VTU 6th Sem Results – VTU Alerts Odd Sem 2010- 11 – www.vtu.ac.in

Reserve Bank of India (RBI) Recruitment 2010 for Executive Interns at www.rbi.org.in

Posted: 27 Jul 2010 05:13 AM PDT

Reserve Bank of India has been released its RBI Recruitment 2010 for Executive Interns to work on contract basis at www.rbi.org.in. Check here for RBI Recruitment 2010 as Reserve Bank of India (RBI) is inviting applications for the post mentioned below on contract basis in Reserve Bank of India (RBI/Bank) from Indian citizens, citizens of Nepal and subjects of Bhutan, Tibetan refugees (who came over to India before 1st January 1962) and Persons of Indian Origin who have migrated from Myanmar and Sri Lanka with the intention of permanently settling in India and in whose favour Eligibility Certificates have been issued by Government of India.

For RBI Recruitment 2010: The age should be between 21 to 30 years. It is purely on contract basis. The details like qualification, age limit, educational qualifications and important dates is mentioned below:

RBI Recruitment 2010: Executive Interns

Number of vacancies: 200 Posts
Educational Qualifications: (as on 01-07-2010): A First Class Bachelor's Degree with a minimum of 60% marks or an equivalent grade. SC/ST/PWD HI/VH/OH) candidates having Second Class with a minimum of 50% marks or equivalent grade in Bachelor's Degree examination are eligible to apply if posts are reserved for them AND GEN/OBC/SC/ST/PWD(HI/VH/OH) candidates must also possess skills relating to Information Technology. For this purpose, they must have successfully completed any Certificate Course related to Information Technology.
Age should be between: (as on 01-07-2010): Between 21 and 30 years (candidates must have been born not earlier than 02-07-1980 and not later than 01–07–1989).

Closing date for submission of application: 30.08.2010 (August 30, 2010)

Click Here for RBI Recruitment 2010 details and RBI Online Application Form

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The Reserve Bank has been released the RBI Reverse Repo Rate or RBI First Quarter Review of Monetary Credit Policy 2010-11. Dr. D. Subbarao, Governor has given a press statement about this RBI Reverse Repo Rate or RBI First Quarter Review of Monetary Credit Policy 2010-11 of Reserve Bank of India at a meeting of the chief executives of major banks. The important decisions contained in the review were to raise the repo rate from 5.5 per cent to 5.75 per cent and the reverse repo rate from 4 per cent to 4.50 per cent. This asymmetric raise in rates narrows the LAF corridor from 150 basis points to 125 basis points.

The central bank has raised its FY11 inflation projection to 6% from 5.5% earlier. The stance of the monetary policy, RBI said, is intended to contain inflation and anchor inflationary expectations, while being prepared to respond to any further build-up of inflationary pressures. The word contain in the sentence above holds a lot of significance as it shows that the central bank has not given up trying to contain inflation but is more keen to moderate it.

Wholesale Price Inflation has been in double-digits since February this year. As measured by year-on-year variation in WPI, rose to 10.6% in June, up from 10.2% in May. This figure is expected to rise in the short-term by 1% on account of the de-regulation in fuel prices. There also been a rise in iron ore and electricity prices.

Primary food articles inflation continues to be in double-digits at 14.6%. Non-food items inflation, which was near zero in November 2009, rose sharply to 10.6% by June this year. Non-food items have contributed over 70% to WPI inflation in June.

What is Cash Reserve ratio?
Cash reserve Ratio (CRR) is the amount of funds that banks have to park with RBI. If RBI decides to increase the cash reserve ratio, the available amount with banks would reduce. The central bank increases CRR to impound surplus liquidity. CRR serves two purposes: One, it ensures that a portion of bank deposits are always available to meet withdrawal demand, and secondly, it enables that RBI control liquidity in the system, and thereby, inflation by tying their hands in lending money. The current CRR is 6%.

For more details about this RBI Reverse Repo Rate or RBI First Quarter Review of Monetary Credit Policy 2010-11, Please Visit: http://www.rbi.org.in/Scripts/Annualpolicy.aspx

Tags: cash reserve ratio, credit policy of rbi, rbi bulletin, rbi credit policy 2010, rbi policy, reverse repo rate