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This is an archive article published on March 11, 2013

Regulators have their day cut out

Friday was a day of back to back meeting of the financial sector regulators with each other and the finance minister. While the RBI Governor

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REGULATORS HAVE THEIR DAY CUT OUT

Friday was a day of back to back meeting of the financial sector regulators with each other and the finance minister. While the RBI Governor,Sebi,Irda and PFRDA chiefs met the minister in the morning at the FSDC,Subbarao and Chidambaram were again face to face in the afternoon at the RBI Board of Governors meeting. In the evening again,UK Sinha met the finance ministry with his board of directors. And all these stretched across a big city like Delhi,with a dinner too to end the evening among the regulators.

JOBS VS INFLATION TRADE-OFF

The Bankers Club is a quiet body whose meetings are a brief affair in Delhi. Usually the chiefs of the the two resident banks in Delhi Punjab National Bank or Oriental Bank of Commerce act as the host. This time too on Friday,the Club meeting in the evening was supposed to be just that but the assembly was in for a surprise when D Subbarao took the opportunity of the brief one and a half hour meeting to give a structured lecture about the Phillips Curve employment-inflation trade-off,which acted as his sounding board for the upcoming rate meeting on March 19.

 

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