Archive for February 5th, 2018

RBI Board remains empty which is such an enigma to understand…

February 5, 2018

Over the weekend, the Government appointed 2 members to the RBI Board:

In exercise of the powers conferred by clause (b) of the sub-section (1) of Section 8 of the Reserve Bank of India Act, 1934, the Central Government has nominated Dr. Prasanna Kumar Mohanty and Shri Dilip S. Shanghvi as Directors to the Central Board of the Reserve Bank of India for a period upto February 08, 2021 and March 10, 2021 respectively or until further orders, whichever is earlier.

So now the Board has 14 members:

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The Anchal Service: The postal services used in Travancore and Cochin

February 5, 2018

Brilliant post by Maddy’s Ramblings blog. This blog is the goto blog on nuances of Kerala’s history which is quite amazing to learn. The blog is an inspiration of sorts of being really meticulous in research and using the blog to share it with people.

In this post, he writes about the postal services used in Travancore and Cochin areas called Anchal Service (Wiki entry):

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Notes from Union Budget 2018-19: Cryptocurrency, Cryptoassets and Blockchain…

February 5, 2018

Apart from GIFT City, another thing I noticed in the Budget was Indian government’s worry over Cryptocurrency.

In his speech the FM said:

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GIFT city perhaps needs homegrown financial institutions as well..

February 5, 2018

Amidst all the Budget announcements and noise, the one on GIFT City caught my eye.

As a student of banking and financial history, one topic which is of huge interest is history of financial centres. How and why certain centres come to emerge as financial centres first at a national stage and then gradually to international/global levels is quite a study. If one understands this development, much of financial development becomes clearer. Alas, the interest in the subject is hardly much.

In this context, it is always exciting and interesting to learn about GIFT City in Gandhinagar, Gujarat. It is being shaped as an international financial centre by policymakers compared to the mighty Mumbai which evolved more naturally as a financial centre over a long period of time.

GIFT city was one of the top projects of the current Prime Minister when he was CM of Gujarat. Thusm the project has got mentions in the Union Budget.

In 2015-16, the Finance Minister said:

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