Kerala - Thiruvananthapuram   

RBI steps will not check inflation, says Patnaik

THIRUVANANTHAPURAM: State Planning Board vice-chairman Prabhat Patnaik said here on Sunday that the measures announced by the Reserve Bank of India (RBI) would not help check inflation.

Inaugurating a one-day workshop on the Raghuram Rajan Committee Report on banking reforms, organised by the Kerala State committee of the All India Bank Officers’ Confederation (AIBOC), Mr. Patnaik said the current rate of inflation was the fallout of the sub-prime crisis in the U.S. and the rise in crude oil prices and, therefore, the measures announced by the RBI would have no impact on inflation.

Prof. Patnaik said the Raghuram Rajan Committee Report would destroy the public sector banking industry in the country.

Confederation State president P.V. Sivasankara Pillai; secretary V.K. Prasad; AIBOC national vice-president K. Anand Kumar; deputy general secretary J.D. Sharma; State treasurer P.V. Mohanan; district president H. Padmanabhan; and secretary G.R. Jayakrishnan were among those who spoke at the meeting.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Music, lamps for Peace Day
Flushing out the ‘inner terrorist’
Building permits for resort at Kumbalangi cancelled
Increase in freight loadings
RBI steps will not check inflation, says Patnaik
Hearings on CZM norms from Friday
Ex gratia
High-capacity coaches soon
IT@School bags national award
Better days ahead for researchers
Lapses, indecision in ‘aravana’ distribution: report
Foreigners to come under watch
Infrastructure projects held up
Land acquisition hard: Mayor
KWA to issue eviction notices soon
In Thiruvananthapuram Today

Copyright © 2008, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu