I got my credit card from SBI in November, 2006. Then, it charged like the following:
09/12/2006 EASY MONEY DRAFT FEE 167.24 D 17/12/2006 INSURANCE ADMINISTRATION CHARGE 22.45 D 17/12/2006 PROTECT PLUS INSURANCE CREDIT SHIELD PR 9.81 D 17/12/2006 PROTECT PLUS INSURANCE PA PREMIUM-6 LACS 26.94 D < TD> Transaction for ABHIMANYU B/RAY, Card No. 4317 5750 7536 8259 04/12/2006 ROYAL SUNDARAM ALLIANC CHENNAI IN 2191.00 D 09/12/2006 DRAFT FOR EASY MONEY 6000.00 D 12/12/2006 Medisafe Admin Fee SBI cards 390.00 D
---------------------- My outstanding balance was Rs.8807.44 on December 17, 2006 without using SBI card. Now, it is around Rs 15000 with bogus charges. They did not send bill for first 4 months. My last bill is full of fraud charges. I appeal to cancell SBI credit cards.
I will not be surprised if inflation continues to hover around 6% despite four times hike in Repo Rates coupled with hike in CRR and liquidity management through MSS by RBI. In India, the inflation management is more to do with the supply side management than the demand side. Hence the monetary measures will have to be backed by supply side management which includes importing the commodities which are in short supply. Fortunately, with a robust forex kitty, importing such commodities should not have been a problem. The problem here is tackling the supply side bottleneck such as port congestions. A tight monetary policy is effective for a short period, beyond which it may work at the cost of growth.
The other issue that concerns inflation is the authorities' plan for a GDP growth of 8.5-9.0% in the next couple of years. One should not, therefore, be surprised if high inflation rate prevails relative to RBI projection in near future.
containing the inflation by increasing the CRR, RRR or PLR it won't work at this present economy. because of these rupee value appreciated. you can't correlate Rupee Value appreciation with GDP. Since GDP is in full swing in the past four years, due to Interest rates only. if you increase these above rates. you can;t expect economy GDP growth in same manner. let them reduce the intrest rate and fix the norms to lending the money. it may work.
