Who owns the money with RBI? Govt-Reserve Bank face off as Urjit Patel resigns.
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- Опубліковано 20 вер 2024
- Central bankers all over the world tussle with their governments over economic policies. While elected representatives are concerned about shorter term goals like job and credit growth, central bankers worry about long term implications of economic policy. The #ReserveBankofIndia and Modi-Jaitley government is in the middle of once such skirmish. See Bisbo's detailed video on this important topic and make sure to wait for the end limerick.
Correction:
We have miscalculated the amount in USD, erroneously converting 3.6 lakh crore to $5tn, instead of $50bn.
Sources:
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Financial Express:
Anupam Chatterjee: August 28, 2018
Economic Times:
Atmadip Ray; Nov 22, 2018
Sangita Mehta; August 30, 2018
October 27, 2018
Hindustan Times:
August 28, 2018; Saubhadra Chatterji
Bhadra Sinha; November 19, 2018
The Hindu; Oct 27, 2018; Vijaita Singh
Investing Answers:
Bad Debt
Investopedia:
Non-Performing Asset (NPA)
Times of India
Surojit Gupta & Sidhartha; Interview with Arvind Subramanian; Dec 12, 9, 2018
Mayur Shetty; Dec 3, 2018 (MSME lending fall)
Rajeev Desppande; Nov 28, 2018
Reuters:
October 31, 2018
Bloomberg
Andy Mukherjee; Nov 25, 2018
Mint:
Siddharth Singh: March 6, 2018
Narayan Ramchandran: November 12, 2018
The Hindu:
Manojit Saha: November 6, 2018; November 20, 2018
Raghuvir Srinivasan: November 17, 2018
The Indian Express:
Sunny Verma: November 6, 2018
Business Today:
August 16, 2018
November 13, 2018
November 20, 2018
The Wire:
Rohini Singh; November 19, 2018
NDTV:
Sunil Prabhu, Anindita Sanyal; November 13, 2018
Bisbo's other economy related stories:
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What is GST: Dummies guide to India's new Good & Services Tax: • What is GST and its gu...
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Modicare: can Ayushman Bharat / NHPS overcome the pitfalls of RSBY? • Modicare: can Ayushman...
Bisbo's Limerick:
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Don't forget to watch Bisbo's Limerick at the end of each video, that neatly sums up the topic.
Follow #Bisbo on Twitter:
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The videos uploaded on this channel are a dramatised / caricatured version of real events based on sources (news or otherwise) and / or other information and data freely available in the public domain. Artistic liberties may have been taken with respect to dialogue bubbles; however, the content includes edited versions of actual words spoken, re-worded for space and time constraints but good faith conveying the intended meaning or assumed words spoken. We compile and use information freely available in the public domain and from credible news media organisations to the best of our knowledge. The links of all such sources from which information has been gathered to create the videos is provided in the description section to ensure transparency.
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INR to Trillion dollar conversation is wrong.. example it's 50 billion$ not 5 trillion$ for 3.6 crore lakh (India's GPD itself is 2.5 trillion$)
Yes Abhijit you are correct. We will add this correction to the video description section. Thanks for pointing out.
@@BisboWorld Listening to you ... $5 trillion made my heart swell for the our economy but again corrected to $50 billion made me realize there's not much room for a miscalculated error on the part of the bank and moreover the selected future governor of the RBI do not have the requisite educational background or maybe wouldn't even know when to take the stand on behalf the RBI when pressure is put on him to release the reserve funds. Our political parties whether it be BJP or Congress does not address the governance system as to why we have NPAs and farmer loans that they are unable to pay. Maybe in your future videos you can shed light on these issues, especially on the farmers because India has a substantial number of farmers who are not able to pay their dues but on the other hand consumers of their product are paying hefty price to fill their tummies. Few errors in your video but nonetheless its a good start. Keep it up !!
Thanks yes. Very embarrassing error. Raghuram Rajan and other economists have written to Election commission regd farm waiver. We may work on that angle from financial impact.
@@BisboWorld What a DUMB CHANNEL!
Thank you for Correcting!
This channel is hands down the best animation news channel on UA-cam
Wow Yusha. Thanks
In a way, any welfare scheme is at the end of the day is a dollout. We have to discourage the habit of giving subsidies too much
This video needs great appreciation. Great job
Thanks
You make great vedios guru .
This government think they know more than the RBI 😌😌😌
or maybe RBi know more but doest work that way...something like we got freedom in 1947 but liberalization came on 1991...they could have done before 😉
@@animeshsingh1073
Where Mind is without Wisdom
Face Eternally Towards Camera
Knowledge Commodified World Broken Into Fragments by Narrow Domestic Walls
Words come out from Depth of IT Cell
Reason Lost its way Into Bondage Mein Fuehrer ! You’ve let this Country Sink !!!
@@swaroopshetty9254 🥴
What a great explaination and detailed study
Hats off BISBO
Thanks Surya
Rainy days are here 🥺
As always at this point I guess, detailed and well explained with out a bias... @Bisbo tusi great ho!
Thanks Reddy again
Transfer is based on Bimal Jalan committee recommendation.. unfortunately it's not mentioned in this video.!!
Bimal jalan sucks bro
@@RameshKumar-rt8xb ??
You're so underrated !!!! May you reach 1M soon
Thanks Kaushi
The dialogue rendering by characters..Outstanding👏 ...superb👌
Thankyou so much sir, for such a simple and brief explanation.
Welcome Balan
How on earth do you do research and produce meaningful content on so many different topics? What's your background and the background of your team? Impressive stuff. How many weeks of research/reading does it take for you to produce content on a given topic? Is it desk research only or do you talk to academics, journalists, policy makers, industrialists, etc etc depending on the topic. I am super interested in the logistics of producing any given video, mostly because I am very impressed by the quality and the wide scope of your content. Congrats!
Wow, what a quality narrative
Thanks Akhil
RBI never transferred the principal amount. It only transferred part of the return and interest it earned after investing that amount.
It never refused to do so in future. Govt wanted the hen after having alot of golden egg.
We people are so used to handouts
Good one bisbo. This all happened because of BJP election campaign. Why the hell Modi changed this much?
Political compulsions can undo the best intentions
Highly informative...Very useful for UPSC prep. Keep making lots of videos. Hats off and _/\_
Thanks Shrija
It's been a year now, did the vice chaiman's prophecy came true??
Man, Bisbo’s Inr usd conversions are completely out of whack.....250,000 lakh crore?? 40 *trillion* dollars?? It’s 2.5 lakh crore and 35 *billion* dollars....
UK sinha committee is worst, They expand the MSME loans to the core level of 7 lakh crore which is horrible decision by the committee
You guys need more recognition
Please include solutions in your case studies.
Sir I really love your channel and an avid follower. Sir I have a request, if you put videos on economics and polity like how money is created, how country runs, RBI monetary policy etc. Then it'll help out a lot. Thank you 😊
That's why subramanyam swami said jaitley doesn't know finance and now comes the nirmala tai.....
Bro, thanks for the video and great work... 👍👍👍
Welcome Ankit
Good work, Your explanation was so good. It Posses good subject clarity and neat graphic presentation.
All the best guys.
Fantastic explanation, Bisbo!
Thanks Mahaveer
These vedios are a great help.keep them coming 😃😃😃
You deserve a million subs unwork hard on those animations
Thanks
We received all the money lying dead
See our gdp is now 2600 Billions from 1400 Billions in 2014
Great, big fan
Thanks Sean
Excellent videos... keep going... Please make a video on Sahara scandal.... waiting for that
Please do video on AP special statues
Great explaination This should be trending
Thanks Anurag
There's a grave error in currency conversions: ₹7 lakh crore is equal to $100 billion
Yes you are correct
good work sir for us ... Thanks .....👌👌
Thanks Kevin
Demonitisation has done by BJP govt earlier to save there govt
And same strategy implemented
They forgot that generation has changed
@Shivansh Nautiyal views depend on the mood
Fact depends on suffer
@Shivansh Nautiyal we had 10000 re note too and BJP govt has banned and same strategy played again
@Shivansh Nautiyal great to hear that
But the fact is??? My above msgs will say again
@Shivansh Nautiyal sorry to say 4 years we are looking at but strategies are following before our birth
I hope generations aren't not like before
We are now what we want be
@Shivansh Nautiyal u r just thinking about your stomach full and saying 4 years
Just treasure what the facts behind then we will know the facts behind 4 years
This shaktikanta das will make RBI, a history of India.
Great but I couldn't fully understand it. Can someone summarise the takeaways? Please?
Modi Govt has Fucked Up RBI
@@kashshi not true man !
Robbers ruling India halleluya
Uploading so Fast. Nice....!!!
Want to increase speed even more
Awsm bisbo where do you so much knowledge
Thanks Rajat. All this information is available (see Sources section in Video Description) but at many different places. We put it together at one place for our readers.
Bisbo - content is great. Research is great.. but pleaseeeee change the narration - you are not reading a comic book to children. Its such a childish tone of narration. Also work on the climax Bisbo limerick - it should be more matured and less animated flying robot
Seriously, the demonetising of 500,1000 notes really hurted the nation growth which will take decade if not decades to built up the same. Worst decision of Narender modi.
You are my fav youtube channel I mean this ❤️
Hello bisbo quick question do you like pewdiepie? do you have time to watch over you tubers?
KK. We will make one video on the T Series pewdiepie issue. We spend our time watching videos related to the topic we write on
Bisbo ok thanks
Hey Bisbo!
Where r u from? India right?
Yes Gaurav, Mumbai
Bisbo , Awesome as usual .Please make a video on Pewdiepie Vs Tseries fight over UA-cam
Thanks Captain
UA-camrs would love it though
Lol
Nice work bisbo.
Thanks Chandra
Is our savings and fixed deposits safe ??
Should be ok
Love u bisbo
Thanks Akula
I felt you didn't give focus on govt side of the story. You just limited it to rhetoric idea of pre-election subsidises and charity kind of stuff.
Ok. Point taken
The bad consequences of destroying RBI's independence by Modi govt are being felt today. This is not less than a traitor's deed by the govt. #Shame
Why INDIAN Government Owns RBI?
I love when people take English words seriously. Independence what the heck do you mean by Independence. RBI is an Independent body but that does not mean that they are going to make arbitrary rules and they don’t belong to India at all. It is not a holy cow that cannot be questioned. Like for example in their circular they said with effect from April 1st 2017 they would increase the Capital requirement ratio to 9%. Basel norms are 8% which is followed by world over. Remember most of the parts of the world follow 8% and these are for banks which deal with the other countries and which are owned privately. Here in India this may apply to ICICI, HDFC Kotak Mahindra etc which deals with outside world but would also apply to all the local banks which this ration should not be applicable. Don’t forget the fact that our public sectors banks are 70% owned by government and any logical per should should ask do we really need this kind of restriction. There were many more things which was added but would not like to mention it here where they changed rules and make it difficult for the MSME sectors to borrow. But this was done without a committee being appointed or having a discussion around it. Let us take Japan for example it has 4% reservers for banks which are not dealing with outside world but has 8% for banks which deals with outside world.
Remember most of the folks like the left media darling Rajan who say that the independence of the RBI needs to be there would go on to support the TARP which was introduced during the 2008 financial crisis. At that time Hank Paulson (Secretary of Treasure which is like the FM in India) and Ben Bernanky the chairman of Federal Reserve which is like like our Governor of RBI were almost in bed and were working so closely. So, at that time was the independence of the Federal reserver was not questioned? Yes we are not having a crisis like as seriously as 2008 but when we were going through the financial crisis from 2006 to 2014 the banks were lending like drunken sailers with Phone calls from the UPA government to the banks. This is acknowledged by everyone now but now one talks about it. RBI’s job is just not to create financial policy but also also monitor the bank lending which is clearly mentioned in the Basel norms. This NPA crisis which we have today major share of the responsibility is to RBI as they were sleeping on the wheels. The reason why I bring Rajan into the conversation is because during TARP in US he was the biggest supporter of TARP and was cheerleading the thing at that time when Ben Bernake and Hank Paulson were in bed. This is not Rajan even Arvind Subramanian and all the TARP is unanimously celebrated.
Again applying an outside solution Basel norms to our market should be done as we deal with the outside world but we should question everything. The only time the Financial crisis stopped was when Government intervened into the market with TARP as world believed in the government more than the private entity who created this problem. But in our case the 70% of PS Banks are owned by the government.
Let me give you an Analogy All of us love our family Indians and Americans when I was in US they were saying so no relatives comes home during Christmas and I used to tell we live in a joint family and we see them everyday this concept they cannot understand. This is two different thing and just because you don’t travel for your holidays or don’t meet the family during holidays it does not mean a thing. And for Americans when you see the family on a day to day basis it is really bad. This is the big cultural difference. Cultural difference does not just exists in social structure but also in Finances and business. There is no Hindu Undivided Family in western countries. There are many more examples but I will rest now.
Thanks Raj for your excellent input.
Good video. Keep on doing more like this.
did.... did you use that ai speech thing to imitate jatley?
No we tried the voice ourselves
Bro please no music, we are not here mood mind we are here to learn and listen
Looks like the modi needs more funds to his foreign visits
Nice I am big fan of bisbo
Thanks a lot GM
What is the meaning of bisbo
Nothing. It’s a brand we are trying to build
It's not Trillions ...its Billions...
Oops
listening to RSS supporters for DEMO and RBI governance seems to be the order of the day
spr...
Thanks PP
pleaser bro
i think 2:08 is 40 billion and not trillion
Love your videos keep it up
Thanks Tanishq
centralised banking system is going to fail
decentralisation,crypto currencies are the future
Impressive
Thanks Aryan
Bhai software kaunda use karte ho
Adobe Photoshop aur Animate CC
yeah
Make video about Tesla please
Jaitley looks like P. Chindambaram
All politicians are the same lol 😂
please make a video on Insider Trading
Great bro
Its billions not trillions
*I thought if you explain this in hindi you will be get more views and it will also helps us*
Arun Jaitley destroyed Modi ji
Destroyrd entire country
Both destroyed entire country
@@Muktijit no bro modi is aewsome man i think he has no much knowledge but wants do as much for the country as possible he could have passed on his life as a ordinary tea seller but no he chose to change us.
@@SaraswatMajumder you are wrong here my brother. Modi has made a cabinet where the power is centred at only point and that is Mr Modi. Def ministry has been given to Nirmala sitharaman who has no knowledge and experienceof handling a ministry. Now coming back to mr Jaitley, he had no role to play in the financial schemes being launched. Modi has centred all the power to him. Main objective of demonetization was to remove the cash from the economy in order to promote digital transaction, leaving no other option than Paytm, which indeed increased their net worth. Hope you understand.
@@sanjaytarak4164 "No other option than PayTm"
> Google Tez, Amazon Pay, Freecharg3, BHIM, PayU, Mobikwik, etc.
Wait how does this work india economy is 2 trillion USD but our banks have almost half of that ?????
Should have been 50 billion. Error
Too good. keep making such informative content
Thanks Saswat
how come only 14000 views
Will increase (we hope) lol. Thanks Dwipayan
+Bisbo welcome i ve read and watch newspaper and tv shows but i was still blank what was this all about until this video of yours..
High praise from you. Thanks
you dont know trillion meaning that to usd
Yes Anna, we corrected the error in video description and added a pinned comment about this to the video.
Hi Bisbo 👋
Please do a video on congress bounce back (recent state legeslative elections)
India modi badlega ULTA
Creative channel
Thanks Giridhar
hindi me kab upload kroge
Kal agar voice sahi waqt aa jaye
Nearly died at 0:30
Yes we have corrected the error
0:30 Wtf!!!
Trillion $..Are you kidding me?
Plz please do rectify your narration.
Yes, we have acknowledged the error in the video description
love you sir
Thanks Naman
Dissolve rbi assets and give it to government.
This video needs great appreciation. Great job