Policy Rates

Bank Rate : 9.00% Repo Rate : 8.00% Reverse Repo Rate : 7.00% Marginal Standing Facility Rate : 9.00%

Reserve Ratios
CRR SLR

: 4.75% : 24.0%

Lending/ Deposit Rates

Base Rate : 10.00% - 10.50% Savings Bank Rate : Deposit Rate : 8.00% - 9.25%

RBI
Establishment The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated. Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India. Preamble The Preamble of the Reserve Bank of India describes the basic functions of the Reserve Bank as: "...to regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage." Central Board The Reserve Bank's affairs are governed by a central board of directors. The board is appointed by the Government of India in keeping with the Reserve Bank of India Act.

Appointed/nominated for a period of four years Constitution: o Official Directors Full-time : Governor and not more than four Deputy Governors o Non-Official Directors Nominated by Government: ten Directors from various fields and one government Official Others: four Directors - one each from four local boards Profile of Central Board Directors

Spot The Difference.. By Raju Soni

Conventions: (n) = noun (v)= verb (adj)= adjective (pn)= pronoun (Syn)=synonyms (adv)= adverb (opp)= antonyms/opposite Meanings are short enough to not make reading boring and long enough to be able to spot the difference clearly ! 1. Vocation - (n)--(a principal occupation ) a type of work or way of life that you believe is especially suitable for you Avocation -(n)-- Something a person does in addition to a principal occupation, esp. for pleasure 2. Accessary -(adj)-- aiding and abetting in a crime -(n)-- someone who helps another person commit a crime Accessory - (n)-- an extra piece of equipment that is useful but not essential or that can be added to sth else as a decoration 3. Affection - (n)-- the feeling of liking or loving sb/sth very much and caring about them Affectation - (n)-- behaviour or an action that is not natural or sincere and that is often intended to impress other people 4. Agnostic - (n)-- a person who is not sure whether or not God exists or who believes that we cannot know whether God exists or not Atheist - (n)-- a person who believes that God does not exist 5. Allude -(v)-- allude to sb/sth - to mention sth in an indirect way Elude -(v)-- to avoid or escape by speed, cleverness, trickery, etc.; evade 6. Amiable -(adj)-- pleasant; friendly and easy to like

Amicable -(adj)-- done or achieved in a polite or friendly way and without quarrelling 7. Apprise -(v)-- apprise sb of sth - to tell or inform sb of sth Appraise -(v)-- to make a formal judgement about the value of a persons work, usually after a discussion with them about it 8. Aught -(pn)-- Anything whatever; any part Ought -(v)--expressing duty or rightness 9. Ament -(n)-- A person whose intellectual capacity remains undeveloped. Emend -(v)-- to remove the mistakes in a piece of writing, especially before it is printed 10. Attenuate -(v)-- to make sth weaker or less effective Extenuate -(v)--make(guilty or an offence)seem less serious by referencing to another factor 11. Brusque -(adj)-- using very few words and sounding rude Burlesque -(n)-- a performance or piece of writing which tries to make sth look ridiculous by representing it in a humorous way 12. Bridle -(n)-- a set of leather bands, attached to REINS, which is put around a horses head and used for controlling it -(v)-- to put a bridle on a horse Bridal -(adj)-- connected with a BRIDE or a wedding 13. Broach -(v)-- ~ (sth) (to / with sb) to begin talking about a subject that is difficult to discuss, especially because it is embarrassing or because people disagree about it Brooch -(n)-- a piece of jewellery with a pin on the back of it, that can be fastened to your clothes 14. Cannon -(n)-- an old type of large heavy gun, usually on wheels, that fires solid metal or stone balls -(v)-- to hit sb/sth with a lot of force while you are moving Canon -(n)-- a Christian priest with special duties in a CATHEDRAL, a generally accepted rule, standard or principle by which sth is judged

15. Censor -(n)-- a person whose job is to examine books, films/movies, etc. and remove parts which are considered offensive, immoral or politically dangerous -(v)-- to remove the parts of a book, film/movie, etc. that are considered offensive, immoral or politically dangerous Censure -(n)-- strong criticism -(v)-- ~ sb (for sth) to criticize sb severely, and often publicly, because of sth they have done Cynosure -(n)-- something that strongly attracts attention by its brilliance, interest, etc.: the cynosure of all eyes. 16. Climatic -(adj)-- connected with the weather of a particular area Climactic -(adj)-- (of an event or a point in time) very exciting, most important 17. Complacent -(adj)-- ~ (about sb/sth) too satisfied with yourself or with a situation, so that you do not feel that any change is necessary; showing or feeling complacency Complaisant -(adj)-- ready to accept other peoples actions and opinions and to do what other people want 18. Corporal -(n)-- a member of one of the lower ranks in the army, the MARINES or the British air force Corporeal -(adj)-- that can be touched; physical rather than spiritual 19. Decry -(v)-- ~ sb/sth (as sth) to strongly criticize sb/sth, especially publicly Descry -(v)-- catch sight of , descern 20. Delusion -(n)-- a false belief or opinion about yourself or your situation, the act of believing or making yourself believe sth that is not true Illusion -(n)-- a false idea or belief, especially about sb or about a situation, something that seems to exist but in fact does not, or seems to be sth that it is not 21. Deprecate -(v)-- to become less valuable over a period of time Depreciate -(v)-- to become less valuable over a period of time 22.

Disinterested -(adj)-- not influenced by personal feelings, or by the chance of getting some advantage for yourself Uninterested -(adj)-- ~ (in sb/sth) not interested; not wanting to know about sb/sth 23. Elicit -(v)-- ~ sth (from sb) to get information or a reaction from sb, often with difficulty Illicit -(adj)-- not legally permitted or authorized; unlicensed; unlawful 24. Errant -(adj)-- doing sth that is wrong; not behaving in an acceptable way Arrant -(adj)-- downright; thorough; unmitigated; notorious: an arrant fool. 25. Expatiate -(v)-- to write or speak in detail about a subject Expiate -(v)-- to accept punishment for sth that you have done wrong in order to show that you are sorry 26. Extant -(adj)-- still in existence Extent -(n)-- how large, important, serious, etc. sth is 27. Equable -(adj)-- calm and not easily upset or annoyed Equitable -(adj)-- fair and reasonable; treating everyone in an equal way 28. Forego -(v)-- to decide not to have or do sth that you would like to have or do Forgo -(v)-- to decide not to have or do sth that you would like to have or do 29. Fractious -(adj)-- bad-tempered or easily upset, especially by small things Factious -(adj)-- of, inclined to, or characterized by faction. 30. Farther -(adj)-- at a greater distance in space, direction or time Further -(adv)--to a greater degree or extent, in addition to what has just been said 31. Gentle -(adj)-- calm and kind; doing things in a quiet and careful way Genteel -(adj)-- (of people and their way of life) quiet and polite, often in an exaggerated way; from, or pretending to be from, a high social class, quiet and old-fashioned and perhaps slightly boring

32. Gourmet -(n)-- a person who knows a lot about good food and wines and who enjoys choosing, eating and drinking them Gourmand -(n)-- a person who enjoys eating and eats large amounts of food 33. Immanent -(adj)-- present as a natural part of sth; present everywhere Imminent -(adj)-- likely to happen very soon 34. Ingenious -(adj)-- (of an object, a plan, an idea, etc.) very suitable for a particular purpose and resulting from clever new ideas Ingenuous- (adj)-- honest, innocent and willing to trust people Syn- Naive 35. Knave -(n)-- a dishonest man or boy Nave - (n)-- the long central part of a church where most of the seats are 36. Martial -(adj)-- connected with fighting or war Marital -(adj)-- connected with marriage or with the relationship between a husband and wife 37. Meet -(v)-- to be in the same place as sb by chance and talk to them Mete -(v)-- to give sb a punishment; to make sb suffer bad treatment 38. Mendacity -(n)-- the act of not telling the truth Mendicity -(n)-39. Mystical -(adj)-- having spiritual powers or qualities that are difficult to understand or to explain Mythical -(adj)-- existing only in ancient myths, that does not exist or is not true 40. Mote -(n)-- a very small piece of dust Moat -(n)-- a deep wide channel that was dug around a castle, etc. and filled with water to make it more difficult for enemies to attack 41. Objurgate -(adj)-- to scold or rebuke sharply; berate.

Obdurate -(adj)-- refusing to change your mind or your actions in any way Syn- Stubborn 42. Officious -(adj)-- too ready to tell people what to do or to use the power you have to give orders Official -(adj)-- connected with the job of sb who is in a position of authority 43. Principle -(n)-- a moral rule or a strong belief that influences your actions Principal -(n)-- the person who is in charge of a college or a university 44. Panegyric -(n)-- a speech or piece of writing praising sb/sth Paregoric -(n)-- soothing, a medicine used to make pacify. 45. Perspicacity -(adj)-- able to understand sb/sth quickly and accurately; showing this Perspicuity -(n)-- clearness or lucidity, as of a statement, the quality of being perspicuous. 46. Prescribe -(v)-- ~ (sb) sth (for sth) (of a doctor) to tell sb to take a particular medicine or have a particular treatment; to write a Proscribe -(v)-- to say officially that sth is forbidden 47. Provident -(adj)-- careful in planning for the future, especially by saving money Providential -(adj)-- lucky because it happens at the right time, but without being planned 48. Quiet -(adj)-- not disturbed; peaceful Quite -(adv)-- to a great degree; very; really 49. Reign -(n)-- the period during which a king, queen, EMPEROR, etc. rules Rein -(n)-- a long, narrow, leather band that is fastened around a horses neck and is held by the rider in order to control the horse 50. Sear -(v)-- to burn the surface of sth in a way that is sudden and powerful Seer -(n)-- (in the past) a person who claimed that they could see what was going to happen in the future

51. Simulate -(v)-- to create particular conditions that exist in real life using computers, models, etc., usually for study or training purposes, to be made to look like sth else Dissimulate -(v)-- to hide your real feelings or intentions, often by pretending to have different ones 52. Spacious -(adj)-- (of a room or building) large and with plenty of space for people to move around in Specious -(adj)-- seeming right or true but actually wrong or false 53. Stationary -(adj)-- not moving; not intended to be moved Opp-Mobile Stationery -(n)-- materials for writing and for using in an office, for example paper, pens and envelopes 54. Temperance -(n)-- the practice of not drinking alcohol because of your moral or religious beliefs, the practice of controlling your behaviour, the amount you eat, etc., so that it is always reasonable Temperament -(n)-- a persons or an animals nature as shown in the way they behave or react to situations or people 55. Unexceptional -(adj)-- not interesting or unusual syn Unremarkable Unexceptionable -(adj)-- not giving any reason for criticism, not very new or exciting 56. Urban -(adj)-- connected with a town or city Urbane -(adj)-- (especially of a man) good at knowing what to say and how to behave in social situations; appearing relaxed and confident 57. Vain -(adj)-- that does not produce the result you want Vein -(adj)-- any of the tubes that carry blood from all parts of the body to the heart 58. Venal -(adj)-- prepared to do dishonest or immoral things in return for money Venial -(adj)-- (of a SIN or mistake) not very serious and therefore able to be forgiven 59.

Voracity -(adj)-- eating or wanting large amounts of food, wanting a lot of new information and knowledge Veracity -(n)-- the quality of being true; the habit of telling the truth syn - Truthfulness 60. Whet -(v)-- to increase your desire for or interest in sth Wet -(adj)-- covered or soaked with liquid, especially water 61. Wreath -(n)-- an arrangement of flowers and leaves, especially in the shape of a circle, placed on graves, etc. as a sign of respect for sb who has died Wreathe -(v)-- ~ sth (in / with sth) to surround or cover sth, to move slowly and lightly, especially in circles