Серовский филиал ГБПОУ "СОМК"

Главная > Новости > For 2016 17, it will pay Rs 30,459 crore in dividend to the

For 2016 17, it will pay Rs 30,459 crore in dividend to the

13 декабря 2013

RBI takes demonetisation hit and government gets a cut

cheap jordans free shipping The Reserve Bank of India (RBI) announcement this Thursday to halve its dividend payout to the government has once again put demonetisation under the spotlight. cheap cheap jordan 12 shoes jordans free shipping

cheap jordans for sale It was earlier expected that there would be a big windfall for cheap jordans 7 for sale the RBI, from the government November 8 decision to scrap currency notes held in denominations of Rs 1,000 and Rs 500. The argument was a sizeable part of these high value notes, estimated at about Rs 3 lakh crore, were dodgy cash (read as black money) and would not return to the system. The amount could be written off from the liability of the cheap jordan shoes for men central bank, which could then transfer this gain to the government either through higher dividend or some other means. The government, in turn, could use this money to build infrastructure, capitalise banks or invest in other very cheap jordans online growth catalysts. cheap jordans for sale

cheap cheap jordans under 30 jordans from china This hopeful script, however, has gone horribly wrong. It now appears that most of the cash held in such high value notes might have returned to the cheap jordan sneakers system, although the RBI maintains that it still counting the demonetised buy cheap jordan shoes notes. cheap jordans from china

cheap air force Worse, the RBI announcement coincided with the release of a research report by the State Bank of India (SBI) the country largest that severely undermines the government earlier claim that the impact of demonetisation would inevitably subside in a few cheap authentic air jordans months and make way for accelerated growth. cheap air force

cheap adidas According to the SBI report, in the first four months of the current fiscal year, bank credit has shrunk to Rs 1.5 lakh crore, or 2%, compared to the same period a year ago. The SBI report, moreover, has cheap jordan 4 identified the sluggish trend in home loans and personal loans as being even most worrying. Clearly, further jordan retro 5 cheap indicating that consumer confidence hasn yet turned around and India still remains wary of their economic prospects. cheap cheap real jordans for sale free shipping adidas

cheap jordans on sale What is also alarming is that the informal credit network that otherwise used to fuel India cash economy seems to have been profoundly disoriented in the wake of demonetisation. The belief, moreover, that the informal credit network would simply where to buy cheap jordans shif to the formal (banking) sector hasn happened. cheap jordans on sale

cheap air jordan The findings of the SBI report also underscore the structural risks involved in trying to shift a multi layered and complicated economy such as buy air jordans cheap India into the formal economy cheap jordans buy in a single shot. The latest update on order cheap jordans RBI finances bear it out. cheap air jordan

cheap jordan sneakers Let alone a windfall, the RBI has not been able to protect its income, thanks to demonetisation. For 2016 17, it will pay Rs 30,459 crore in dividend to the government, compared to Rs 65,876 crore it paid last year. There are broadly three reasons for the lower payout, directly or indirectly linked to the November 8 2016 decision: cheap jordan sneakers

Cheap jordans First, the central bank is understood to have spent about Rs 15,000 crore on printing new notes. This money wasn budgeted, because the note ban decision was supposed to be a surprise move. Cheap jordans

cheap yeezys Second, when people rushed to deposit demonetised notes http://www.nikefacebook.com , banks ended up with huge piles of cash and left the financial jordan retro 7 cheap system with excess liquidity that could have stoked inflation or triggered other imbalances. cheap yeezys

cheap jordans in china The RBI was forced to conduct reverse repo operations: meaning it had to borrow short term money from the banks to suck out excess liquidity. Some estimates put the excess liquidity to be as high as Rs 8 lakh crore in early January, which means the RBI must have paid cheap jordans under 50 dollars a fair amount in interest charges to the banks. cheap jordans in china

cheap jordans online The last, but the most important, reason for the fall in RBI earnings relates to a decline in returns on investment in US treasury bonds, which was aggravated by the rupee appreciation against the dollar. cheap jordans online

cheap Air max shoes The RBI earns a good part of its income by investing India foreign exchange reserves in US treasury bonds. A big spurt in this income through 2015 16, in fact, had helped the central bank make a record dividend payout to the government. cheap Air max shoes

cheap jordans sale In 2016 17, it was expected to moderate because interest rates in the US were softening. But wholesale cheap jordans the blow to the RBI turned out to be harder, thanks to an appreciating rupee that cheap jordans for sale online further diminishes the impact of lower dollar earnings. Between July 2016 and June 2017 cheap adidas , which is super cheap jordans for sale the financial year for the RBI, the rupee has risen nearly 5% against the US dollar, primarily because imports have been sluggish. cheap jordans sale

cheap jordans shoes Demonetisation has hit exports hard, especially in sectors that are import intensive. It also dampened consumption spending, keeping imports and demand for foreign exchange subdued and helping the rupee appreciate cheap jordans shoes.