Ouch!

 "Critics of economics say that economists know the price of everything but the value of nothing. Nothing, perhaps, is so dangerous intellectually in the policy sciences as an economist who knows only economics, except, I would add, a moral philosopher who knows no economics at all." - Peter J. Boettke

Answer to QOTW 21 Jan 2014

 The Reserve Bank of India (RBI) on 20-01-2014 reallocated the portfolios of its three deputy governors K.C. Chakrabarty, H.R. Khan and Urjit R. Patel following the retirement of Anand Sinha, who demitted the office of deputy governor recently.

The department of banking operations and development, which were under Sinha, will now be looked after by Khan, while that of urban banks will be managed by Chakrabarty.

The departments of information technology and expenditure and budgetary control will be looked after by Khan and Patel, respectively. Khan will also look after the inspection portfolio, while the legal portfolio has been transferred to Chakrabarty. These portfolios will be reallocated once the new deputy governor takes charge,

Woman power :) .... only in the developed countries?????

The world has woken up to the fact that women in rich countries make around 80% of all consumer buying decisions. Even cars, which used to be a male preserve, are now often chosen by women, and carmakers have adjusted their designs to appeal to female sensibilities. But there is one area where women's buying clout has so far been neglected: business-to-business

Quote for the Day

 "One of the greatest pieces of economic wisdom is to know what you do not know." - John Kenneth Galbraith

RBI calling for your pre-2005 currency notes

The Reserve Bank of India (RBI) today said it will completely withdraw from circulation all currency notes issued prior to 2005. This will ensure that the notes in circulation are of similar design.

Question of the Week

Who are the three Deputy Governors of the RBI? What are their portfolios?
Send your answers by Monday 27 January 2014 to profKMody@gmail.com

OMG! Gloomy figures

The number of unemployed people around the world reached an estimated 201.8 million in 2013, with the International Labour Organisation painting a bleak picture for employment till 2018.