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  SBT FOUNDATION DAY IS 78 TODAY SBTians , retired in SBT and post - merger with SBI and who continue serving SBI with SBT as their entry point, celebrate SBT Foundation today across India, particularly in ‘God’s Own Country’, the state of Kerala. The registration date of Travancore Bank Limited (TBL) on 12th September 1945, is celebrated as ‘SBT Foundation Day’, as TBL later on became State Bank of Travancore, merging along with it, quite a few region concentrated commercial banks. Whoever had chosen TBL date of registration and coined the word ‘Foundation Day’ should have been a  Deergadarshi,  as he never mentioned it as SBT Day, nor taken the date on which the subsidiary of SBI came into existence. Perhaps, he was aware that SBT, after creating a glorios history for itself and the state of Kerala for 58 years, may get itself merged with the parent SBI and cease to exist on its own. The bank will remain part of history, backed by a well authored book titled ‘Tradition ...

  MPC Stance:  Moral Suasion without empowerment? The Monetary Policy Committee (MPC) of Reserve Bank of India (RBI), ever since the beginning of this FY 2023-24, repeatedly stated its stance as “ Remaining focused on withdrawal of accommodation to ensure that inflation progressively aligns with the target, while supporting growth ". While the repo rate is fixed by MPC, the tools available for implementing the stance, lies with RBI. At least on two occasions, during the current FY, RBI took decisions, which appear to act against MPC’s objectives ‘of bringing inflation to targeted levels and remain focused on withdrawal of accommodation’ Occasion  1. In May 2023, RBI decided to withdraw Rs.2000 bank notes in money circulation (Rs.3.56 lac cr.) with effect from 23rd May 2023. They have to be exchanged in cash for other denomination bank notes or have to be deposited into their accounts by the public in bank branches, including regional offices of RBI, on or before 30.09.23....