With inflation for the week ended March 22 hitting a 3-year high of 7%, the government, in an effort to control inflation, have stopped export sops on basmati rice. The DEPB (Duty Entitlement Pass Book) benefits on basmati rice has been withdrawn. The government has already banned export of non-basmati rice and raised the minimum export price for basmati rice.
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ALERT:RBI have directed banks to set up financial literacy and credit counselling centres (FLCCs). The central bank is also considering issuing guidelines to facilitate the setting up of FLCCs by banks for group and individual counselling. These are a part of the recommendations of RBI’s concept paper on FLCCs, which is open for public comments. It is also suggested that banks would have to share customer credit information with FLCCs....!!!!!
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