RBI Grade-B Officer 2015-16 , Phase-I & II

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This group is for "highly dedicated and determined" aspirants of RBI grade B officer exam 2015-16 (if RBI will conduct) who want to treat next year attempt of RBI Gr-B as their last attempt. And ready to prepare together for phase-I and phase-II f...

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**5th bi-monthly monetary policy (MPC) review 2019-20**

Key highlights

1. MPC unanimously votes for status quo on repo rate (5.15%)
2. Stance to remain accomodative as long as required: MPC
3. FY20 real GDP growth projection lowered to 5% from 6.1%
4. MPC sees scope for rate easing in the future
5. MPC expects inflation to rise in the near term
6. Delay in demand revival is a key downside risk to GDP
7. MPC sees need to address impediments holding back investments
8. October CPI print was much higher than expected
9. Fall in deposit rate augurs well for loan rate transmission
10. October-March 2020 CPI inflation seen at 4.7-5.1%
11. April-Sept 2020 CPI inflation seen 3.8-4%
12. Oct-March GDP growth seen at 4.9-5.5%
13. Fall in deposit rate augurs well for rate transmission

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Can anyone help with this... GDP contribution by each sector like education,, health, agriculture this year and last year in percentage. Their growth percentage from prev year, their target and budget allocation...

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India’s reasons for not joining RCEP:
  • Changed scenario due to the China-US trade war:

    China has been seeking to tie up the deal expeditiously as the country faces slowing growth from a trade war with the U.S.

    This shifted the focus somewhat from crafting an agreement that worked for all to an early conclusion of agreement.
  • RCEP lacking balance and fairness:

    India was not able to get several of its key concerns addressed.

    The biggest concern in the bloc is still with China with whom the Indian bilateral trade deficits lurk around USD 55-60 billion.

    There are too many non-tariff barriers in place in China which have to be removed.Otherwise, progressively low tariff rates which form the core of the RCEP treaty, will seriously hurt our dairy, steel, MSME and textile sectors.
  • Lopsided ‘Free Trade Agreements’:

    India has already signed a host of free trade agreements (FTAs) and comprehensive economic cooperation agreements (CECAs) with the South-east Asian nations, with whom India’s trade deficit only increased after the agreements came to effect.

    Even with other RCEP nations with whom India does not have trade agreements, namely, Australia, New Zealand, and China, India faces a massive and growing trade deficit.

    Domestic opposition: Agricultural producers and farmers are fearing that cutting tariffs on dairy and other produce would open the door to cheap Chinese imports and threaten sectors that support a vast swathe of the population.
  • The economic slowdown: Indian industries facing consumption slowdown, would have been further hit by cheap imports.
  • Stagnating Indian exports: India's exports have declined along with an increase in imports.

India’s main issues with RCEP:

  • The main issues that need resolution include

    e-commerce chapter

    number of goods on which import duties should be completely eliminated

    norms to relax services trade

    investor-state dispute settlement

    Rules of Origin (ROO)
  1. The e-commerce chapter & the issue of cross-border transfer of electronic information:

The e-commerce chapter contains clauses that, if India had agreed to them, would have prevented it from implementing data localisation rules on companies doing business in India.

  • India has proposed locating computing facilities inside the country if it is meant to protect its essential security interests and national interests.
  • Also Reserve Bank of India’s (RBI) in its April 2018 notification mandated “all system providers shall ensure that the entire data relating to payment systems operated by them are stored in a system only in India”.

RCEP does not want data localization. It said that these requirements raise costs for suppliers of data-intensive services by forcing the construction of unnecessary, redundant data centres.

  1. Number of goods on which import duties should be completely eliminated
  • RCEP members want India to eliminate or significantly reduce customs duties on maximum number of goods it traded globally.

    To protect domestic industry against surge in imports, India suggested an auto trigger method that would automatically increase import levies once shipments cross a given threshold limit.

    India is negotiating ‘standstill’ and ‘ratchet’ clauses which mean that the governments have to freeze their current levels of market opening, and if they liberalise more they cannot go back.

    Dairy Sector - New Zealand and Australia would gain significantly for commodities- Milk powder and fat. Already Malaysia and Indonesia have successfully exploited the Indian market in palm oil, as did Argentina and Brazil in soyabean oil and Ukraine in sunflower oil.

2. Norms to relax services trade

  • Under services, India wants greater market access for its professionals in the proposed agreement.

    But the RCEP grouping had earlier rejected India’s proposal for a visa fee waiver on a common reciprocal basis, fearing migration and subsequent loss of jobs.

    Computer related services is a sector of India’s interest and in that Mode 4 is India’s main concern.

3. Proposed inclusion of the controversial investor-state dispute settlement (ISDS):

  • This mechanism gives the exclusive right to bypass domestic legal systems and sue governments at international arbitration tribunals whenever they feel government regulation can limit their profits.
  • India does not want an ISDS mechanism in RCEP as it does not want its domestic laws to be challenged in offshore arbitral tribunals.

4. Rules of Origin (ROO):

  • Rules of origin are the criteria used to define where a product was made and are important for implementing other trade policy measures, including trade preferences, quotas, anti-dumping measures and countervailing duties.
  • India wants strict rules of origin to prevent Chinese goods from flooding the country through member countries that may have lower or no duty levels.

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Corporate Tax Rate Cuts :How the decision will have an impact on the economy?
  • More Money to the hands of Private players: Experts believe that lowering the tax rate will leave more money to the hands of the private sector which can offer people more incentive to produce and contribute to the economy.
  • Widening the Economic Base: Corporate tax rate is the major determinant which defines the economic activity of the private sector. Thus, the present tax cut can help the wider economic growth.
  • Capital Inflow to the Economy: Corporate tax rate is also a major determinant of how investors allocate capital across various economies. Offering a lower tax rate will attract more investors to the economy that will further raise capital inflow into the economy.
  • Competitive Economy: The present cut in taxes can make India more competitive on the global stage by making Indian corporate tax rates comparable to that of rates in East Asia.
  • Greater Tax Collections: At the same time, the present tax cut can help boost tax collections and compensate for the loss of revenue.
  • Expansion of the Corporate Footnote: The benefit is immense as it might expand the corporate universe as new firms will now be taxed at 15 percent.
  • More Employment to the Economy: Attracting investors by lowering the tax rate will generate more employment and will help increase the purchasing power of the people.
  • Flip to the Government Programme: The move will also give thrust to government initiatives like Make in India, Startup India, etc. which had taken a hit in the past couple of years.
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Business Development Manager Post HDFC Life December,2019 hiring Apply link:- https://s.ripplehire.com/s/sApf Earn while you learn: Earn within the program tenure with Rs 2500 per month* stipend during Classroom Training at Manipal, Banglore and Rs 16000 per month* during the Internship at your home town or nearest HDFC Life branch. On successful completion of 12 months of the Smart Achievers Program Start earning 25000 per month along with high incentives, the incumbent will be absorbed by HDFC Life at Business Development Manager Post with the compensation of INR 3.0 lakhs + incentives. This course provides Post Graduation Diploma in Insurance ( PGDI ) from Manipal Global University which includes 4 months classroom tarining + 2 month OJT + 6 month Internship. Apply link:- https://s.ripplehire.com/s/sApf

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Business Development Manager Post HDFC Life December,2019 hiring Apply link:- https://s.ripplehire.com/s/sApf Earn while you learn: Earn within the program tenure with Rs 2500 per month* stipend during Classroom Training at Manipal, Banglore and Rs 16000 per month* during the Internship at your home town or nearest HDFC Life branch. On successful completion of 12 months of the Smart Achievers Program Start earning 25000 per month along with high incentives, the incumbent will be absorbed by HDFC Life at Business Development Manager Post with the compensation of INR 3.0 lakhs + incentives. This course provides Post Graduation Diploma in Insurance ( PGDI ) from Manipal Global University which includes 4 months classroom tarining + 2 month OJT + 6 month Internship. Apply link:- https://s.ripplehire.com/s/sApf

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RBI Vision 2022 (Utkarsh 2022)

RBI released Utkarash 2022, its vision documentBANKING POLICYduring July 2019. It provides information about, what RBI's plans for future. A summary is provided.

Mission: To promote the economic and financial well-being of the people of India in terms of price and financial stability; fair
and universal access to financial services; and a robust, dynamic
and responsive financial intermediation infrastructure.

Core Purpose :
1. To foster confidence in the internal and external value of the
Rupee and contribute to macro-economic stability
2. To regulate markets and institutions under its ambit, to ensure
financial system stability and consumer protection
3. To promote the integrity, efficiency, inclusiveness and
competitiveness of the financial and payment systems
4. To ensure efficient management of currency as well as banking
services to the Government and banks
5. To support balanced, equitable and sustainable economic
development of the country

Values: RBI commits itself to the following shared values that
guide organisational decisions and employee actions in pursuit ofthe Bank’s core purpose:

Public Interest : RBI in its actions and policies, seeks to promote
public interest and the common goodResponsiveness and Innovation: RBI seeks to be a dynamicorganisation responsive to public needs.

Integrity and Independence: To maintain highest standards of
integrity through openness, trust and accountabilityIntrospection and pursuit of excellence: RBI is committed toself-appraisal, introspection and professional excellence

VISION 1: Excellence in performance of functions.

A: Furthering the monetary policy framework and operating
procedure; enriching statutory publications; and striving for a
‘state-of-the-art’ data-intensive policy research framework
B : Creating a resilient financial intermediation ecosystem; refining
the regulatory, supervisory and financial inclusion framework.
C : Strengthening resilience, integrity and efficiency of the financialmarkets infrastructure with a focus on deepening digital payments
D: Enhancing efficiency of the ‘Banker to Government’ function
E: Broadening and widening debt markets.
F: Revamping the currency management system through enhanced
efficiency in procurement and distribution.

VISION 2: Strengthened trust of citizens and other institutions.
A : Strengthening external communication framework.
B: Creating an enabling environment to develop consumer-friendly
financial services providers
C: Ensuring sound and comprehensive internal
and external RBI policies
D: Adopting a ‘less paper’ and virtual workflowfor external stakeholders

VISION 3: Enhanced relevance andsignificance in national and global roles

A: Intensifying presence in national forums to
improve domestic financial infrastructure
B: Enhancing RBI’s brand equity.
C: Amplifying international financial
engagement by articulating RBI’s stance and
views on major global economic and regulatory
policy issues.
D: Strengthening existing positions in
supranational institutions.

VISION 4: Transparent, accountable andethics-driven internal governance
A: Reinforcing governance and code of ethics
B: Upgrading internal controls through robust
risk management, auditing & compliance
functions through international best practices
C: Adopting ‘less paper’ & virtual internal
workflows.

VISION 5: Best-in-class and environment-friendly digital as well as physical infrastructure

A: Automating processes, achieving integration
of information and ensuring cyber security.

VISION 6: Innovative, dynamic & skilledHuman Resources

A: Reviewing and reframing the organisational
structure to effectively implement all strategies
B: Enhancing skills of human resources for
creating a suitable training framework
C: Establishing an objective performance
assessment system for efficient HRM.
D: Using technology and data analytics to
promote research-based decision making by
the workforce


 FOR 2019 & 2020 RBI GRADE B NOTES AT BEST PRICE PEEP IN AT www.facebook.com/groups/rbi.grade.b.prelim.main 

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