08-12-2016

the hindu
1.The RBI’s big surprise.

The Reserve Bank of India has surprised markets by opting to keep benchmark interest rates unchanged and cutting the outlook for full-year growth in the wake of last month’s decision to withdraw legal tender status to high denomination currency notes.  read more

2.Demonetisation is for the long run.

The critics of demonetisation are absolutely right about the adverse short-term impact of the policy. It has caused major inconvenience to a vast majority, particularly to those who have the least financial resources. Of course, it will shave off some amount of GDP growth for anywhere between a quarter and three quarters because of the economic disruption it has caused in different sectors of the economy.  read more

3.Three years after the Koushal Judgment.

December 11, 2016 marks three years from the day on which the Supreme Court delivered amongst its most widely criticised judgments since the turn of the century: Koushal v. Naz Foundation. With the stroke of a pen, India’s LGBT community was cast back into the shadows of illegality after a judgment of the Delhi High Court, reading down Section 377 of the Indian Penal Code, was reversed in appeal.  read more

tio
1.RBI cuts growth estimate to 7.1%, keeps rates on hold

Even before the demonetisation effect plays out fully, the Reserve Bank of India has cut growth estimates for the economy to 7.1% from 7.6% earlier. It cited a slowdown in the second quarter (July-September) but underplayed the impact of the radical currency change. Surprisingly , the RBI’s monetary policy panel, which decides interest rates, shunned a growth booster by holding rates, pointing to steady food prices and risks of rising oil prices. read more

2.Malpractices in assembly polls should be treated as crimes: CEC

Apprehending increased use of money power and paid news in forthcoming state elections, chief election commissioner (CEC) Nasim Zaidi has requested the Centre to take urgent measures, including considering an ordinance, to designate the malpractices as specific crimes. read more

3.Loans to be cheaper as RBI eases additional CRR norm

A new report by the United Nations Environment Programme (UNEP) says that crops such as wheat and maize are generating more potential toxins as a reaction to protect themselves from extreme weather.  read more

tie
1.MHA shows no charity,cuts 20 NGOs’ licence.

KOZHIKODE: Amidst allegations of muzzling non-governmental organisations (NGO) by blocking foreign funding, the Union Ministry of Home Affairs (MHA) has cancelled the licence of over 20 NGOs in Kerala under the Foreign Contribution Regulation Act (FCRA), 2010. The MHA launched a crackdown on NGOs alleging failure to meet legal requirements as they failed to meet the June 30 deadline to apply for FCRA renewal.  read more

2.A lesson for the banking sector.

The Reserve Bank of India (RBI) and the Monetary Policy Committee (MPC) deserve to be congratulated for a fair, balanced and reasonable assessment of the macroeconomic situation and the decision not to further reduce the policy repo rate, which is the signalling rate for short-term interest rates in the economy. The fifth bimonthly Monetary Policy Statement for the fiscal year 2017, announced on Wednesday, has kept the policy repo rate unchanged at 6.25 per cent. read more

3.Polar sea oce level hit record low during November

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