Sample module in position -stick-lefttop-
Sample module in position -stick-leftmiddle-
Sample module in position -stick-leftbottom-
Sample module in position -stickrightmiddle-
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Position "promo-left"

This is a sample module in position “promo-left”. All modules in this position will be arranged in vertical column. The whole position will be collapsed, if there are no modules published.

Position "promo-right"

This is a sample module in position “promo-right”. All modules in this position will be arranged in vertical column. The whole position will be collapsed, if there are no modules published.

Position "content-top"

This is a sample module in position “content-top”. All modules in this position will be arranged in horizontal row. The whole position will be collapsed, if there are no modules published.

Position "content-top"

This is a sample module in position “content-top”. All modules in this position will be arranged in horizontal row. The whole position will be collapsed, if there are no modules published.

Position "user1"

This is a sample module in position “user1”. All modules in this position will be arranged in vertical column. The whole position will be collapsed, if there are no modules published.

Position "user2"

This is a sample module in position “user2”. All modules in this position will be arranged in vertical column. The whole position will be collapsed, if there are no modules published.

Department of Economics, in its Centenary Year, organized a panel discussion on India’s External Sector: Recent Developments and Challenges Ahead in which Shri H. R. Khan, Dy. Governor, Reserve Bank of India was the Chief Guest. Shri Khan presented a brief account of historical development of Indias trade structure and direction. He mentioned that Indias exports have gone up from 18.5 billion dollar in 1991 to 315 billion dollar in 2013-2014. At the same time, average annual growth rate of merchandise exports doubled from 9 per cent in 1991-2000 to 20 per cent during 2000-2012. During the same period, composition of Indias imports has also shifted from labour incentives products to capital and skill incentive goods. He focused on the impact of fed reserve crisis of 2013 and its impact on CAD moderation in growth, high deficit, high inflation and policy uncertainty. He said that the RBI stepped in to curb excessive volatility in fore market in India. RBI hiked short-term interest rates and tightened rupee liquidity. It took inflow encouraging measures, outflow discouraging measures and restrictions on derivative since the Indian economy has now become more interlinked with the World economy. Mr. Khan said that the spill over impacts can be felt through 07 channels (07 C). These are commerce, capital flows commodity prices, confidence, carry trades, contaminations and Central bank’s action and communication. He discussed in detail about each of them.    

He concluded with giving a detailed report on the challenges that lie ahead for external sector of India and also as to how R.B.I. would like to tackle these challenges. In the same session, Shri Bazil Sheikh, Executive Director of R.B.I. spoke about banking trends and regulatory responses of R.B.I. He began with explaining the present external environment and its impact of financial sector in general and banking sector in particular with special reference to India. He explained as to why Virtual Banking has posed new challenges to policy making. He then compared policy making of different Central banks of world and then suggested that regulatory mechanism of India is most suited but a constant watch on changing scenario and long run stable policy is the need of the hour.

Prof. Alka Agarwala former Head of Economics and Dean Faculty of Commerce of the Allahabad University in her precise address discussed the problems of management of commercial banks and whether State control or market determined policies or a combination of both is required to create atmosphere conducive to financial stability and economic growth.

In the end, Prof. Nitai C. Nag of University of Chittagong, Bangladesh raised very important issues regarding BASEL-III reforms of international banking regulations and pointed that in BASEL-III, supervisory norms are being diluted and regulatory norms are being toughened which will naturally create more problems than solutions. He further informed that most developing countries like E.U. and U.S. have not and are not likely to implement BASEL-III norms. He warned that developing countries should not follow BASEL-III norms as stipulated and work their own mechanism for financial sector.  

Mr. Khan gave a surprise gift to the Department of Economics by announcing the RBI would financially help the Deptt. to create a State of Art Auditorium in the Centenary Year either by itself or through some other bank. This announcement was greeted with thunder applause by all present in the Hall. Later Mr. H. R. Khan unveiled Prof. P. C. Jain Library, Prof. P. K. Bhargava, the Prof. S. K. Rudra Conference Hall and Prof. Shri Prakash, the Prof. Mahesh Chand Computer Lab. 

Prof. Prahlad Kumar, Head of the Department welcomed the distinguished guests while Prof. M. M. Krishna proposed a hearty vote of thanks.  

Position "user3"

This is a sample module in position “user3”. All modules in this position will be arranged in vertical column. The whole position will be collapsed, if there are no modules published.

Position "user4"

This is a sample module in position “user4”. All modules in this position will be arranged in vertical column. The whole position will be collapsed, if there are no modules published.

Position "innerleft"

This is sample module in position innerleft. All modules in this position will be arranged in vertical column. The whole position will be collapsed, if there are no modules published.

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Position "content-bottom"

This is a sample module in position “content-bottom”. All modules in this position will be arranged in horizontal row. The whole position will be collapsed, if there are no modules published.

Position "content-bottom"

This is a sample module in position “content-bottom”. All modules in this position will be arranged in horizontal row. The whole position will be collapsed, if there are no modules published.

Position "user5"

This is a sample module in position “user5”. All modules in this position will be arranged in vertical column. The whole position will be collapsed, if there are no modules published.

Position "user6"

This is a sample module in position “user6”. All modules in this position will be arranged in vertical column. The whole position will be collapsed, if there are no modules published.

Position "user7"

This is a sample module in position “user7”. All modules in this position will be arranged in vertical column. The whole position will be collapsed, if there are no modules published.

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