There is quite a bit going on in the banking world. Choose one interesting, poli

Question

There is quite a bit going on in the banking world. Choose one interesting, political, regulatory or simply dynamic topic that is occurring in banking currently. Find one article about it. The article needs to be substantial. (No single-paragraph articles or news blurbs. Select article at least 2 pages.) Your submission should include: A reference source where I can find a copy of article (make sure it is correct as I WILL CHECK THESE!!) A one well written paragraph summary – Paraphrased in your own words A paragraph about why you chose this article Two paragraphs on your opinion of the article and what they mean to us now. (In this class and as a society.) Summary of the whole assignment and conclusions

Explanation / Answer

Brexit' close on the heels of 'Rexit' has triggered a great deal of market turbulence and future uncertainty. What should India do to meet this challenge? It will need to ensure, firstly, that its macroeconomic parameters remain rock solid and the Indian economy is seen as contributing to global macro stability rather than adding to turbulence.

With our foreign exchange reserves at a record high of $367 billion, our current account deficit at a very safe 1.3% of GDP, and the commitment to fiscal discipline, the Indian economy seems well placed to weather the twin storms. One view, therefore, is simply to persist with business as usual because if the economy ain't broke, there's no need to fix it. I beg to differ.

The Indian economy is still not primed to generate the required number of jobs needed to absorb the rising number ..

To begin with the government must declare that the twin objectives of macroeconomic policy are maximising employment growth and retaining macro stability. This implies keeping inflation in check and keeping foreign indebtedness within prudent limits. This twin objective must be accepted by all agencies including RBI, which has in recent years tended to overemphasise inflation control under the 'inflation targeting framework'.

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