OBC Recruitment 2017 Faculty, Office Assistant

OBC Recruitment 2017 Faculty, Office Assistant: Oriental Bank of Commerce OBC job vacancies 2017, Oriental Bank of Commerce OBC announced recruitment notification for the Faculty, Office Assistant, Attender vacancies. Eligible candidates can fill there application as per the guidelines of Oriental Bank of Commerce. Dear Job Seeker Remember the last date to fill the application form is 20 Dec 2016.
Other Details like Age, Education Qualification , Application Fees, Salary / Pay Scale, Important Dates, Selection Process, etc are given below in this notification.
Oriental Bank of Commerce Job Notification Details:

Total Number Of Posts : 14 Posts

Jobs Details and Eligibility Criteria:
Posts NameAgeQualification
Faculty25 to 40 yearsCandidates should have completed PG Degree (MA/M.Com/M.Sc/Mater of Social Works, Psychology, Sociology etc). Applicants should have fluency in both spoken and written Hindi, English and local Language and flair for teaching will be preferred.
Office Assistant25 to 35 yearsCandidates with degree in any of B.Com/BA/BSc. Applicants should have fluency in both spoken and written Hindi, English Language. Fluency in spoken and written Local language is an additional qualification.
Attender18 to 25 yearsMatriculation

Salary ( Pay Scale):Rs.20000/-, Rs.12000/-, Rs.8000/-

Application Fees:Refer Advertisement

Selection Method : Candidates will be selected on the basis of performance in the Personal interview conducted by Oriental Bank Rural Development Trust (OBCRDT).

How To Apply: Last date for receipt of application is on 20/12/2016 Address to be sent : OBC Rural Self Employment Training Institute, Oriental Bank of Commerce, National Highway No. 11, Village: Balakhan, Post Office: Loharwara Tehsil: CHOMU DISTT. JAIPUR (RAJASTHAN) Pin Code: 303 807 - Jaipur OBC Rural Self Employment Training Institute, Oriental Bank of Commerce, 173-174, G- Block, Sukhadia Circle, SRIGANAGANAGAR — 335 001 (RAJASTHAN) - Sriganaganagar OBC Rural Self Employment Training Institute, Oriental Bank of Commerce Village: Ratol Bet, Tehsil: Zira Distt: Ferozepur (Punjab) Pin Code: 142 047 - Ferozepur OBC Rural Self Employment Training Institute, Oriental Bank of Commerce, VILLAGE: SHANKERPUR- 248 197 Near Bada Rampur, DEHRADUN (UTTARAKHAND) - Dehradun OBC Rural Self Employment Training institute, Oriental Bank of Commerce, Above Bank of Baroda, Byepass, G. T. Road, Agra Chowk, PALWAL — 121 102 (HARYANA) - Palwal

Important Dates To Remember :

Starting date of application form : 8 Dec 2016
Last date of application form : 20 Dec 2016

Follow Below Links For More Details:
Get Notification Details for Oriental Bank of Commerce
Apply Online for Oriental Bank of Commerce www.obcindia.co.in/ 

Air India Ltd Recruitment 2017 Customer Agent, Jr. Customer Agent

Air India Ltd Recruitment 2017 Customer Agent, Jr. Customer Agent: Air India Ltd Air India Ltd job vacancies 2017, Air India Ltd Air India Ltd announced recruitment notification for the Customer Agent, Jr. Customer Agent vacancies. Eligible candidates can fill there application as per the guidelines of Air India Ltd. Dear Job Seeker Remember the last date to fill the application form is 16 Dec 2016.
Other Details like Age, Education Qualification , Application Fees, Salary / Pay Scale, Important Dates, Selection Process, etc are given below in this notification.
Air India Ltd Job Notification Details:

Total Number Of Posts : 112 Posts

Jobs Details and Eligibility Criteria:
Posts NameAgeQualification
Customer AgentGeneral : Not above 30 years (born between 02.12.1986 and 01.12.1998) OBC : Not above 33 years (born between 02.12.1983 and 01.12.1998) SC/ST : Not above 35 years (born between 02.12.1981 and 01.12.1998)Graduate in any discipline/faculty (minimum 3 years? duration) from a recognized University with knowledge of basic computer operations. Experience : Must have minimum experience of 6 (six) months in any of the areas of combination thereof, of fares, reservation, ticketing, computerized passenger check-in/ cargo handling area with any airline / Airline Travel Agency or Ground Handling agency. Language Proficiency : Should be conversant in English. Knowledge of Local & Hindi languages i.e. ability to understand and speak is desirable. The candidates should carry their passport and adhaar card (if available) and such candidates would be given due weightage in selection.
Jr. Customer AgentGeneral : Not above 30 years (born between 02.12.1986 and 01.12.1998) OBC : Not above 33 years (born between 02.12.1983 and 01.12.1998) SC/ST : Not above 35 years (born between 02.12.1981 and 01.12.1998)HSC (XIIth Std.) pass in any discipline/faculty from a recognized Board/University with knowledge of basic computer operations. Experience : Must have minimum experience of One Year in any of the areas of combination thereof, of fares, reservation, ticketing, computerized passenger check-in/ cargo handling area with any airline / Airline Travel Agency or Ground Handling agency Language Proficiency : Should be conversant in English. Knowledge of Local & Hindi languages i.e. ability to understand and speak is desirable.

Salary ( Pay Scale):Rs.14,610/- p.m., Rs.14,010/- p.m.

Application Fees:Rs.500/- (Rupees Five Hundred Only) by means of a Demand Draft in favour of “AIR INDIA AIR TRANSPORT SERVICES LTD.”, payable at Mumbai.

Selection Method : Walk - In

How To Apply: Walk-in-interview will be held on 16th, December 2016 from 0900 Hrs. to 1200 Hrs. at Systems & Training Division 2nd floor, GSD Complex, Near Sahar Police Station, Airport Gate No-5, Sahar, Andheri-E, Mumbai - 400 099.

Important Dates To Remember :

Starting date of application form : 8 Dec 2016
Last date of application form : 16 Dec 2016

Follow Below Links For More Details:
Get Notification Details for Air India Ltd
Apply Online for Air India Ltd www.airindia.com

SIDBI Recruitment 2017 Deputy Treasury Officer Forex on Contract Basis

SIDBI Recruitment 2017 Deputy Treasury Officer Forex on Contract Basis : Small Industries Development Bank of India SIDBI job vacancies 2017, Small Industries Development Bank of India SIDBI announced recruitment notification for the Deputy Treasury Officer Forex on Contract Basisvacancies. Eligible candidates can fill there application as per the guidelines of Small Industries Development Bank of India. Dear Job Seeker Remember the last date to fill the application form is 16 Dec 2016.
Other Details like Age, Education Qualification , Application Fees, Salary / Pay Scale, Important Dates, Selection Process, etc are given below in this notification.
Small Industries Development Bank of India Job Notification Details:

Total Number Of Posts : 3 Posts

Jobs Details and Eligibility Criteria:
Posts NameAgeQualification
Deputy Treasury Officer Forex on Contract BasisNot below 24 years and not exceeding 32 yearsGraduation from a recognized University along with 2 years full time Masters Degree in Finance/ Banking/ Treasury/ International Trade or CA or ICWA or CFA (USA) or FRM with minimum 60% marks in aggregate or 1st Class in Graduate/Post Graduate Experience : Relevant experience of minimum 3 years in Integrated Treasury of a Bank/ FI including minimum 2 years in Forex Treasury Knowledge of computers : Working knowledge of computers is essential including exposure to Window based applications such as MS Office/MS Excel, etc

Salary ( Pay Scale):Rs. 16.00 lakh approx

Application Fees:Application Fees Rs. 500/- (Rupees Five hundred only). 1. The application form is integrated with the payment gateway and the payment process can be completed by following the instructions. 2. The payment can be made by using Debit Cards (RuPay/Visa/MasterCard/Maestro), Credit Cards, Internet Banking, IMPS, Cash Cards/ Mobile Wallets. 3. After submitting your payment information in the online application form, Please Wait For The Intimation From The Server. Do Not Press Back Or Refresh Button In Order To Avoid Double Charge 4. On successful completion of the transaction, an e-Receipt will be generated. 5. Non-generation of 'E-Receipt' indicates PAYMENT FAILURE. On failure of payment, Candidates are advised to login again using their Provisional Registration Number and Password and repeat the process of payment.

Selection Method :Group Discussion & Personal Interview to be held at Mumbai on January 10, 11 and 12, 2017. The Bank will undertake a preliminary screening of the applications for preparing, if necessary, a shortlist of eligible candidates to be called for interview. Thus, merely fulfilling the requirements laid down in the advertisement would not automatically entitle any candidate to be called for interview.

How To Apply: Candidates may apply online only. After completing the procedure of applying on-line including payment of fees, the candidate should take a printout of the system generated on-line application form, ensure the particulars filled in are accurate, sign on all pages, paste a copy of same passport size photograph which is uploaded, bearing full signature of the candidate across the same with date, and should dispatch the same so as to reach the Deputy General Manager, Human Resources Vertical (HRV), Small Industries Development Bank of India, MSME Development Centre, Plot No. C-11, 'G' Block, BandraKurla Complex, Bandra (East), Mumbai - 400051 on or before December 22, 2016. The envelope containing the application should bear the superscription “Application for the post of Forex Specialist on Contract Basis-2016. Important Dates : Commencement of on-line registration of application-05/12/2016 Closure of registration of application-16/12/2016 Closure for editing application details-16/12/2016 Last date for printing your application-31/12/2016 Online Fee Payment-05/12/2016 to 16/12/2016

Important Dates To Remember :

Starting date of application form : 7 Dec 2016
Last date of application form : 16 Dec 2016

Follow Below Links For More Details:
Get Notification Details for Small Industries Development Bank of India
Apply Online for Small Industries Development Bank of India ibps.sifyitest.com/sidbiafscnov16/ 

BOB Recruitment 2017 Sweeper Cum Peon

BOB Recruitment 2017 Sweeper Cum Peon : Bank of Baroda BOB job vacancies 2017, Bank of Baroda BOB announced recruitment notification for the Sweeper Cum Peon vacancies. Eligible candidates can fill there application as per the guidelines of Bank of Baroda. Dear Job Seeker Remember the last date to fill the application form is 27 Dec 2016.
Other Details like Age, Education Qualification , Application Fees, Salary / Pay Scale, Important Dates, Selection Process, etc are given below in this notification.
Bank of Baroda Job Notification Details:

Total Number Of Posts : 38 Posts

Jobs Details and Eligibility Criteria:
Posts NameAgeQualification
Sweeper Cum Peon18 - 26 yearsThe candidate should have passed in Xth Standard examination or its equivalent. The candidate should be able to read and write in local language. Knowledge of English will be given added weight age.

Salary ( Pay Scale):Rs.9,560

Application Fees:Rs. 100/- for SC/ST/PWD/EXSM candidates. Rs. 400/- for all others Bank Transaction charges for Online/Offline Payment of application fees/ intimation charges will have to be borne by the candidate

Selection Method : Selection will be only through the mode of examination ( online) strictly on merit.

How To Apply: Interested candidates should apply Online from 07/12/2016 to 27.12.2016.

Important Dates To Remember :

Starting date of application form : 7 Dec 2016
Last date of application form : 27 Dec 2016

Follow Below Links For More Details:
Get Notification Details for Bank of Baroda
Apply Online for Bank of Baroda www.bankofbaroda.co.in/ 

Power Grid Recruitment 2017 Executive Trainee Finance

Power Grid Recruitment 2017 Executive Trainee Finance : Power Grid Corporation of India Ltd Power Grid job vacancies 2017, Power Grid Corporation of India Ltd Power Grid announced recruitment notification for the Executive Trainee Finance vacancies. Eligible candidates can fill there application as per the guidelines of Power Grid Corporation of India Ltd. Dear Job Seeker Remember the last date to fill the application form is 31 Dec 2016.
Other Details like Age, Education Qualification , Application Fees, Salary / Pay Scale, Important Dates, Selection Process, etc are given below in this notification.
Power Grid Corporation of India Ltd Job Notification Details:

Total Number Of Posts : 143 Posts

Jobs Details and Eligibility Criteria:
Posts NameAgeQualification
Executive Trainee Finance28 years as on 31.12.2016 (Candidates should be born on or after 01.01.1989)CA/ICWA (CMA) pass

Salary ( Pay Scale): INR 24900-50500/-

Application Fees:Candidates other than SC/ST/PwD and EX-SM are required to submit Application Fee of Rs.560/- to any SBI branch through the Challan generated at their Candidate Login at POWERGRID Website. After submission of the fee, candidates are advised to retain their copy of the Bank Challan.

Selection Method :The selection process will comprise of Test, followed by Group Discussion and Personal Interview of the candidates who qualify in Test and are shortlisted category wise for the GD and Interview.

How To Apply: Interested candidates should apply Online from 10.12.2016 to 31.12.2016. Important Dates : Commencement of Online Submission of Application to POWERGRID -10.12.2016 Last date for Online submission of Application to POWERGRID -31.12.2016 Date of commencement of deposit of SBI challan -13.12.2016 Last date for deposit of Application Fee through SBI Challan-04.01.2017 Tentative date of next announcement- 18.01.2017 Cut off date for eligibility criteria -31.12.2016

Important Dates To Remember :

Starting date of application form : 7 Dec 2016
Last date of application form : 31 Dec 2016

Follow Below Links For More Details:
Get Notification Details for Power Grid Corporation of India Ltd
Apply Online for Power Grid Corporation of India Ltd www.powergridindia.com/

MPPSC Recruitment 2017 Assistant Forests Conservator, Forest Ranger

MPPSC Recruitment 2017 Assistant Forests Conservator, Forest Ranger: Madhya Pradesh Public Service Commission MPPSC job vacancies 2017, Madhya Pradesh Public Service Commission MPPSC announced recruitment notification for the State Forest Service Examination vacancies. Eligible candidates can fill there application as per the guidelines of Madhya Pradesh Public Service Commission. Dear Job Seeker Remember the last date to fill the application form is 8 Jan 2017.
Other Details like Age, Education Qualification , Application Fees, Salary / Pay Scale, Important Dates, Selection Process, etc are given below in this notification.
Madhya Pradesh Public Service Commission Job Notification Details:

Total Number Of Posts : 174 Posts

Jobs Details and Eligibility Criteria:
Posts NameAgeQualification
Assistant Forests Conservator21-28 yrsBachelor degree in engineering or science
Forest Ranger21-28 yrsGraduation with Science / Agriculture / Forestry / Mechanics

Salary ( Pay Scale):Rs.15,600-39,100+GP 5400, Rs.9,300-34,800+GP 3600

Application Fees:Application fee of Rs.250/- for SC/ST candidates and Rs.500/- for all other candidates is to be paid by online or MP online mode.

Selection Method :Selection of the eligible candidates will be done through the written examination, physical efficiency test PET, physical stander test PST, and personal interview test. Preliminary Written Examination will be on Online mode of 400 marks. Mains Examination will be of 800 marks and Interview 100 marks.

How To Apply: Interested candidates having required qualifications may apply online from 09-12-2016 to 08-01-2017.

Important Dates To Remember :

Starting date of application form : 7 Dec 2016
Last date of application form : 8 Jan 2017

Follow Below Links For More Details:
Get Notification Details for Madhya Pradesh Public Service Commission
Apply Online for Madhya Pradesh Public Service Commission mponline.gov.in/Portal/Examinations/MPPSC/Admin/Home.aspx 

Ministry of Defence Station Workshop EME Recruitment 2017 TCM Cook

Ministry of Defence Station Workshop EME Recruitment 2017 TCM Cook: Ministry of Defence Station Workshop EME Ministry of Defence Station Workshop EME job vacancies 2017, Ministry of Defence Station Workshop EME Ministry of Defence Station Workshop EME announced recruitment notification for the TCM, Tradesman Mate, MTS Chowkidar, MTS Chowkidar vacancies. Eligible candidates can fill there application as per the guidelines of Ministry of Defence Station Workshop EME. Dear Job Seeker Remember the last date to fill the application form is 31 Dec 2016.
Other Details like Age, Education Qualification , Application Fees, Salary / Pay Scale, Important Dates, Selection Process, etc are given below in this notification.
Ministry of Defence Station Workshop EME Job Notification Details:

Total Number Of Posts : 13 Posts

Jobs Details and Eligibility Criteria:
Posts NameAgeQualification
TCM18 to 25 Years. Age Relaxation as per GOI Rules.Pass in 10 + 2 with a certificate from a recognized Industrial Training Institute in the respective trade or grade.
Cook18 to 25 Years. Age Relaxation as per GOI Rules.Matriculation or Equivalent. Must have knowledge of Indian cooking and proficiency in trade
Tradesman Mate18 to 25 Years. Age Relaxation as per GOI Rules.Matriculation or Equivalent.
MTS (Chowkidar)18 to 25 Years. Age Relaxation as per GOI Rules.Matriculation or Equivalent.
MTS (Safaiwala)18 to 25 Years. Age Relaxation as per GOI Rules.Matriculation or Equivalent.

Salary ( Pay Scale):Rs. 25,500/-(Pay Matrix Level 4), Rs. 19,900/-(Pay Matrix Level 2), Rs. 18,000/-(Pay Matrix Level 1), Rs. 18,000/--(Pay Matrix Level 1), Rs. 18,000/-(Pay Matrix Level 1)

Application Fees:Refer Advertisement

Selection Method :Written / Practical Test

How To Apply: Candidates will forward Application Form (Prescribed format) properly sealed in an envelope to Commanding Officer Station Workshop EME Agram Post, Bangalore- 560 007 Bangalore (Karnataka) against the post applied for through ordinary post. The Candidates are requested to super-scribe the words 'APPLICATION FOR THE POST OF _______' on top of the envelope while sending the application form. Separate application is required for each post. The Last date for receipt of application is 31st December, 2016.

Important Dates To Remember :

Starting date of application form : 7 Dec 2016
Last date of application form : 31 Dec 2016

Follow Below Links For More Details:
Get Notification Details for Ministry of Defence Station Workshop EME
Apply Online for Ministry of Defence Station Workshop EME www.mod.nic.in/

Sun Pharma Slumps As BSE Seeks Clarification On USFDA

Sun Pharma shares fall as much as 4.6% after FDA inspects company’s Halol plant
US FDA has given a 14-page inspection report on Sun Pharma’s Halol plant that could list potential violations of the agency’s manufacturing guidelines

Mumbai: A US Food & Drug Administration (FDA) inspection of Sun Pharmaceutical Industries Ltd’s facility in Halol, India, has given rise to a 14-page inspection report that could list potential violations of the agency’s manufacturing guidelines.
The report, a Form 483 which lists observations that may constitute regulatory violations, is currently under review and will be available by the end of the week, the FDA said in a response to a Freedom of Information request. Sun Pharma shares dropped as much as 4.6% in Mumbai trading Wednesday.
The regulator didn’t give details or any indication of the seriousness of the observations. The drugmaker will have a chance to respond to the observations before a final determination is made, according to the FDA’s website.
Sun’s Halol plant received a warning letter last year from the regulator due to past violations which has prevented new product launches from the facility in the US, Sun’s largest market. That has slowed revenue growth at India’s largest drug maker and imposed new costs to bring the plant back up to standard. The latest US FDA inspection came after Sun invited the agency back to review a year’s worth of remediation efforts in the hopes the warning letter would be lifted. Frederick Castro, a spokesman for Sun Pharma, declined to comment on the US FDA observations. Bloomberg

बाबा रामदेव ने किया रणवीर का 'कचरा' - ‪‪Ranveer Singh‬ Vs ‪Ramdev‬‬ baba

बाबा रामदेव ने किया रणवीर का 'कचरा' - ‪‪Ranveer Singh‬ Vs ‪Ramdev‬‬ baba:

 माहौल कितना खुशनुमा और अप्रत्याशित हो जाता है, जब लीक से अलग रहने वाले दो लोग एक साथ मंच पर आते हैं। हाल ही ऐसा नजारा देखने को मिला जब योग गुरु बाबा रामदेव और बॉलिवुड के एनर्जी बम रणवीर सिंह एक साथ मंच पर आए।


हाल ही एक चैनल द्वारा आयोजित कार्यक्रम में रणवीर और रामदेव ने अपने-अपने हुनर से लोगों का मनोरंजन किया। जब रणवीर ने बाबा को अपने साथ डांस करने के लिए बुलाया तो रामदेव ने कहा कि उन्हें डांस करना नहीं आता, ठोकना आता है। इस पर हाजिर जवाब रणवीर बोले, अच्छा होता अगर आप दो-चार डांस स्टेप्स ठोक लेते! तब बाबा ने कहा कि मेरा वाला डांस सूर्य नमस्कार का होता है, और तुम्हें साथ में करना पड़ेगा। इस पर उनका स्वागत करते हुए रणवीर ने खुद भी उनके ताल मिलाने की कोशिश की। लेकिन फाइनली रणवीर ने बाबा जी के हुनर का लोहा मान लिया।

बाबा ने रणवीर को पतंजलि का आटा और दलिया खाने की सलाह दी। रणवीर ने कहा कि उन्हें सिक्स पैक ऐब्स चाहिए तो बाबा ने उन्हें अपने ऐब्स दिखा दिए। साथ ही सलाह दी पतंजलि च्यवनप्राश खाया करो। जब बाबा ने रणवीर से फिर पूछा कि क्या अब कुश्ती करनी है? तो रणवीर मजाकिया लहजे में बोले, ये क्या कर रहे हो बाबाजी। आपका बच्चा हूं मैं। मेरी पैंट इतनी टाइट है फिर भी मैंने आपके साथ योग किया, ज्यादा करता तो यह फट सकती थी। इस पर बाबा सहित पूरी ऑडियंस ठहाका लगाकर हंस पड़ी।

शुक्रवार 9 दिसंबर को रणवीर सिंह की फिल्म बेफिक्रे रिलीज हो रही है। जिसमें वहा वाणी कपूर के साथ दिखाई देंगे।

‪‪Reserve Bank of India‬, ‪Monetary policy‬‬ - Banks struggle to pass on any rate cut

With credit demand down, banks may struggle to pass on any rate cut

The silence of the top brass of the RBI, especially Governor Urjit Patel, who has spoken once since demonetisation, has become a subject of debate.


source: indianexpress.com:- Just short of a month into the currency recall exercise, the Reserve Bank of India’s silence has been a subject of much debate. The head of the central bank, Governor Urjit Patel, who has spoken just once since the Centre annulled nearly 86 per cent worth of currency in circulation on November 8, is slated to brief after the monetary policy committee meeting on Wednesday.
But the silence is not restricted to just the new Governor, who took charge in September. In the following two months of October and November, there have been all of three public speeches by the RBI top brass — two by Deputy Governor R Gandhi and one by Deputy Governor NS Vishwanathan.
During the first eight months of this year — between January 1 and September 3 (Patel took over on September 4) — there were 38 speeches by RBI Deputy Governors and Executive Directors at an average of over four speeches a month. Post September 3, there were six speeches by Deputy Governors and Executive Directors up to the end of that month, but sources in the RBI indicated that a majority of these were committed to before the change at the helm of the central bank.
While a couple of months may be too short to draw a conclusive verdict on a change in the central bank’s external communication strategy, a clearer indicator was the Reserve Bank’s fourth bi-monthly monetary policy review for 2016-17 on October 4 — the first under Patel. Alongside the announcement that the RBI and the government had constituted a six-member Monetary Policy Committee (MPC), the Report for October 2016 issued by the central bank started with a study of cross-country experience of 15 countries on the number of MPC meetings and the press conferences that usually follow the meetings in order to explain the stance of monetary policy. “A survey of country practices suggests a central tendency among major central banks to hold four press conferences a year, although the number of MPC meetings may be higher,” the statement said, in summation.
Patel’s penchant for not talking is evident from the fact that during the entire three years that he was a DG at the RBI, there was just a single speech delivered by him at an awards event at Welingkar Institute of Management Development and Research, Mumbai on January 12, 2015. Analysts read the then DG’s comments as being uncharacteristically effusive in the praise of the schemes initiated by the NDA government, especially phrases such as the “Make in India” vision/strategy providing “a much needed ‘focal point’ to inculcate durable competitiveness in key sectors of our economy”, “uncertainty has been lifted in key sectors like coal and spectrum” and the “Jan- Dhan Yojana” scheme being a “game-changer” that “provides an unprecedented scaffolding and a springboard for meaningful financial inclusion and, concomitantly, substantial financial deepening of our economy”.
Two former Deputy Governors that The Indian Express spoke to on the issue of a possible change in the external communication strategy of the RBI, especially on the demonetisation exercise, broadly concurred with view that the currency recall process, including the communication aspect, could have been handled better.
One of them, however, indicated that there was an impression that the RBI, before Patel, was sometimes “speaking out of turn”, especially on issues that did not strictly come under the central bank’s remit. Since the currency recall exercise was launched, Patel has been under attack over the implementation of the scheme, with the All India Bank Officers Confederation calling for Patel’s resignation citing the need for him to take “moral responsibility for the current crisis in the country” while former Prime Minister Manmohan Singh said in Parliament that the implementation of the scheme reflected “very poorly on the Prime Minister’s Office, the finance minister’s office and on the Reserve Bank of India”. Singh, who had served as the Governor of RBI in the mid-1980s and as finance minister subsequently, said: “I am very sorry that the Reserve Bank has been exposed to this kind of criticism, which I think is fully justified.”
Even as Patel desisted from making any public statement well into the second week after the currency demonetisation was announced, the finance ministry has backed him to the hilt. Economic affairs secretary Shaktikanta Das, in a November 23 briefing, brushed aside a pointed query on Patel’s conspicuous absence in all of the government briefings since the day the scheme was announced. “It is not relevant who speaks. I am speaking on behalf of the government, I am not speaking here in my individual capacity. So, therefore, it is irrelevant whether I am speaking or somebody else is speaking,” Das said in response to the query on Patel’s absence. Then on November 27, finance minister Arun Jaitley defended Patel after Congress leader Jairam Ramesh accused the RBI Governor of “sacrificing” the central bank’s autonomy and sought his resignation over the handling of the partial demonetisation exercise. In a tweet, Jaitley said, “An unfair attack by Jairam Ramesh on the RBI Governor. Must politicians attack those who cannot defend themselves in the same tone?”
During the last two years, when Patel was still DG and Rajan was at the helm, a total of 48 speeches and lectures were delivered by the RBI top brass (Governor, DGs and EDs) in 2015 and 65 in 2014. Of these, Rajan alone accounted for 17 speeches. A day before he demitted office, Rajan had, characteristically, delivered a speech on ‘the independence of the central bank’ at Delhi’s St. Stephen’s College.
Globally, too, there are divergent views on how central banks should communicate. A May 2016 report from the Federal Reserve Bank of Dallas warned that officials’ public commentary could be counterproductive as the public is already suffering from information overload, obscuring whatever message policy makers are trying to get through. “A more effective communication strategy for the central bank could be to speak less often and make each speech count by delivering a more focused, cohesive and concise message,” writes Antonella Tutino, an economist at the Dallas Fed had noted in the May report. On the other end of the debate, Sweden’s central bank, the Sveriges Riksbank, in a series of steps towards opening up its communication lines, has launched its own YouTube channel that aimed at putting together the broadcasts from its press conferences and analysts’ meetings, together with other films on the bank’s operations.
Sweden’s central bank has been on the forefront of simplifying communication, to the extent of winning the unthinkable for a central bank —an award for using plain and simple language to explain its decisions. Other, including the Bank of England and the ECB, have taken a cue from the Swedish central bank and launched their YouTube channels.
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