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<ul><li>Retail inflation eased to a three-month in January mainly on account of lower food prices.</li><li>Twelve of the 22 states witnessed higher than average inflation, especially in large states like Maharashtra, UP, Gujarat, Karnataka.</li><li><keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s industrial production grew 3.8% in December 2023, according to official data. </li></ul>Retail inflation eased to a three-month low of 5.1% in January mainly on account of lower food prices, according to official data released on Monday. Inflation based on the Consumer Price Index (CPI) was at 5.69% in December 2023 and 6.52% in January 2024. In August 2023, inflation touched a high of 6.83%. According to the data released by the <keyword id="20070866" type="General" weightage="20" keywordseo="national-statistical-office" source="keywords">National Statistical Office</keyword> (<keyword id="20067517" type="General" weightage="20" keywordseo="nso" source="keywords">NSO</keyword>), retail inflation in the food basket was at 8.3% in January 2024, down from 9.53% in the preceding month. “Inflation came in higher for December than our expectations at 5.1% against 4.7%, though lower than that of November which was 5.7%. Food products continue to exert upward pressure on inflation with cereals, vegetables, fruits, pulses, sugar and spices all witnessing high increases. There has been soothing of inflation in the core goods and services which is a relief from the point of view of monetary policy,” said <keyword id="20102121" type="General" weightage="20" keywordseo="madan-sabnavis" source="keywords">Madan Sabnavis</keyword>, chief economist at Bank of Baroda. Twelve of the 22 states witnessed higher than average inflation. It indicates that inflation is still high in large states like Maharashtra, UP, Gujarat, Karnataka, opine experts. The <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> has been tasked by the government to ensure retail inflation remains at 4%. “With RBI stating risk of food inflation translating into generalised inflation, we expect RBI to continue cautious stance. However, softening of core inflation should provide confidence to trajectory of inflation moving as expected. We think RBI would rather continue with stability priority and continue maintaining 4% inflation target as sacrosanct, and hence we do not see premature easing from RBI,” said Akhil Mittal, senior fund manager-fixed income, Tata Mutual Fund. Most experts believe that uncertain food prices will keep the central bank cautious. "CPI inflation came in slightly softer than our expectations led by moderation in food prices. Positively though, core inflation softened in line with our expectations. However, uncertainties in food inflation outlook should keep RBI cautious in the near term, with much of action by the RBI expected on the liquidity front," said Upasna Bhardwaj, chief economist, Kotak Mahindra Bank. Industrial production grows 3.8% in December 2023 India's industrial production grew 3.8% in December 2023, according to official data released on Monday. Factory output measured in terms of the Index of Industrial Production (IIP) had witnessed a growth of 5.1 per cent in December 2022. "India's Index of Industrial Production grows by 3.8% in December 2023," an official statement said. The data released by the National Statistical Office (NSO) showed that the manufacturing sector's output grew 3.9% in December 2023, up from 3.6% in the year-ago month. In December last year, the mining production rose 5.1% and power output increased 1.2%. IIP grew 6.1% during the April-December 2023 period compared to a 5.5% expansion in the year-ago period. “Growth has been pulled down by electricity growth which was just 1.2% reflecting lower levels of demand. Eleven of the 23 manufacturing categories witnessed negative growth with the significant one again being electronic items. Textiles too continue to be in the negative zone due to lower export demand,” says Sabnavis. (With inputs from PTI)

Retail inflation eases to 3-month low of 5.1% in January, IIP grows 3.8% in December

New Delhi, The per capita monthly household expenditure more than doubled in 2022-23 as compared to 2011-12, according to the latest study of <keyword id="20720109" type="General" weightage="20" keywordseo="national-sample-survey-office" source="keywords">National Sample Survey Office</keyword> (<keyword id="20411472" type="General" weightage="20" keywordseo="nsso" source="keywords">NSSO</keyword>). NSSO, under Ministry of Statistics and Programme Implementation, conducted Household Consumption Expenditure Survey (<keyword id="20462990" type="General" weightage="20" keywordseo="hces" source="keywords">HCES</keyword>) during August 2022 to July 2023, an official statement said on Saturday. The survey aims at generating estimates of household Monthly Per Capita Consumption Expenditure (MPCE) and its distribution separately for the rural and urban sectors of the country, for states and Union Territories, and for different socio-economic groups. As per the survey, the average MPCE at current prices (without imputation) more than doubled to Rs 6,459 in urban areas in 2022-23 from Rs 2,630 in 2011-12. Similarly in rural areas, it jumped to Rs 3,773 from Rs 1,430 at current prices. As per the study, the average MPCE at 2011-12 prices (without imputation) also increased to Rs 3,510 in 2022-23 from Rs 2,630 in 2011-12 in urban areas. Similarly, it rose to Rs 2,008 from Rs 1,430 in rural areas at 2011-12 prices. It showed that the average MPCE also increased (with imputation) to Rs 6,521 in 2022-23 from Rs 2,630 in 2011-12 at current prices in urban areas. Similarly, it rose to Rs 3,860 from Rs 1,430 in rural areas. The average MPCE at 2011-12 prices (with imputation) increased to Rs 3,544 in 2022-23 from Rs 2,630 in 2011-12 in urban areas. It increased to Rs 2,054 from Rs 1,430 in rural areas. The estimates of MPCE are based on the data collected from 2,61,746 households (1,55,014 in rural areas and 1,06,732 in urban areas) in the central sample spread over all states and Union Territories. In HCES:2022-23, the usual practice of imputation of the value figures for consumption out of home-grown/home-produced stock and gifts, loans, free collection and goods received in exchange of goods and services etc. has been continued; and accordingly, estimates of MPCE have been generated. Besides, a provision for collection of information on the quantity of consumption for a number of items, received and consumed by the households free of cost through various social welfare programmes has been made in HCES:2022-23. Consequently, the value figures for food items: rice, wheat/atta, jowar, bajra, maize, <keyword id="20347236" type="General" weightage="20" keywordseo="ragi" source="keywords">ragi</keyword>, barley, small millets, pulses, gram, salt, sugar, edible oil and non-food items: laptop/PC, <keyword id="19986587" type="General" weightage="20" keywordseo="tablet" source="keywords">tablet</keyword>, mobile handset, bicycle, motorcycle/Scooty, clothing (school uniform), footwear (school shoe etc.) received free of cost by the households through these programmes, have been imputed using an appropriate method. Accordingly, another set of estimates of MPCE considering imputed values of these items and of consumption out of home produce, free collection, gifts, loans etc. has also been compiled for HCES: 2022-23.

Monthly household consumer spending more than doubled in last decade

Rising prices of essential kitchen items pushed the <keyword id="513422" type="General" weightage="20" keywordseo="Retail-inflation" source="Orion">retail inflation</keyword> to a six-month high of 5.59 per cent in December, close to the Reserve Bank's upper tolerance limit of 6 per cent. The <keyword id="134096" type="General" weightage="20" keywordseo="Consumer-Price-Index" source="Orion">Consumer Price Index</keyword> (CPI) based retail inflation was 4.91 per cent in November 2021 and 4.59 per cent in December 2020. The RBI, which mainly factors in the CPI-based retail inflation while arriving at its bi-monthly monetary policy, has been tasked by the government to keep the inflation at 4 per cent with margin of 2 per cent on either side (that is, in the range of 2-6 per cent). Retail inflation has been rising since October 2021. In July too the rate of price rise was 5.59 per cent but it slowed in the subsequent two months, before starting to move up from October. As per the data released by the <keyword id="7734679" type="General" weightage="20" keywordseo="National-Statistical-Office" source="Orion">National Statistical Office</keyword> (NSO) on Wednesday, food inflation was at 4.05 per cent in December this fiscal compared to 1.87 per cent in the preceding month. In the food basket, inflation was on higher side in 'cereals and products', eggs, 'milk and products', spices, and 'prepared meals, snacks and sweets' segments in December over the preceding month. However, the rate of price rise was slower in case of vegetables, fruits, and 'oil and fats'. In the 'fuel and light' category, though the inflation softened from a month ago, it remained elevated at 10.95 per cent during the month. It was 13.35 per cent in November 2021. The Reserve Bank expects the inflation print to be somewhat higher over the rest of the year as base effects turn adverse. According to the RBI, it is expected that headline inflation will peak in the fourth quarter of the current fiscal and soften thereafter. Aditi Nayar, chief economist at Icra, said the increase in CPI inflation in December 2021 relative to the previous month was primarily led by food and beverages, and clothing and footwear. There was a welcome moderation in the prints for fuel and light, and pan, tobacco etc amidst a mild dip in miscellaneous items and housing, she added. "Overall, we expect the headline CPI inflation to range between 5.7 - 6 per cent in Q4 FY2022, as compared to the MPC's (<keyword id="6375120" type="General" weightage="20" keywordseo="monetary-policy-committee" source="Orion">Monetary Policy Committee</keyword>) forecast of 5.7 per cent. "While the CPI inflation has hardened sharply between November and December 2021, the uncertainty triggered by the third wave is sure to take precedence when the MPC meets next month. We now see a negligible likelihood of a change in stance or reverse repo hike in the February 2022 policy review," Nayar said. With a higher inflation target, the MPC can choose to prioritise growth revival for much longer than other major central banks, for many of whom inflation control has become a pressing policy focus, she noted. The RBI's next monetary policy meeting will be held in February. "Food inflation is expected to increase further due to supply bottlenecks and adverse weather conditions. "Although there has been a 68 basis points increase in the inflation rate in December over the previous month, the average inflation for Q3 remained below the RBI's estimates of 5.3 per cent," said M Govinda Rao, Chief Economic Adviser at Brickwork Ratings. The CPI has now remained within the tolerance level for the sixth month in a row with 5.59 per cent this December, D R E Reddy, CEO and Managing Partner at CRCL LLP said. "Inflationary pressures on food are projected to remain low for the foreseeable future. Household income has also increased, indicating a boost in discretionary income in the hands of the average person. Overall, these figures show that the economy is rapidly rebounding from the pandemic's devastation," Reddy said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/icmr-experts-reject-inclusion-of-molnupiravir-in-covid-19-treatment-guidelines-for-fourth-time-citing-safety-concerns/articleshow/88867442.cms">ICMR experts reject inclusion of Molnupiravir in COVID-19 treatment guidelines for fourth time citing safety concerns</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/scientist-s-somanath-to-take-over-as-new-isro-chairman/articleshow/88867399.cms">Scientist S. Somanath to take over as new ISRO chairman</a>

Retail inflation rises close to 6% in December on costlier kitchen staples

<ul class="summary-list"><li>The Delta variant and coronavirus have forced some employees to stay working from home.</li><li>In August, about 13% of employed people worked remotely because of the pandemic, according to the <keyword id="12020838" type="UNKNOWN" weightage="60" keywordseo="bureau-of-labor-statistics" source="Orion">Bureau of Labor Statistics</keyword>.</li><li>The number of remote workers stalled from the previous month after dropping earlier in the year.</li></ul>The Delta variant and the ongoing pandemic seem to still be affecting plans to have workers return to the office. The latest data released by the Bureau of Labor Statistics showed there wasn't a decline in remote workers over August.According to the latest data from the <a href="https://www.bls.gov/cps/effects-of-the-coronavirus-covid-19-pandemic.htm">Bureau of Labor Statistics</a>, 13.4% of employed people teleworked or worked from home in the last four weeks because of the pandemic in August.While this represented a drop from earlier in the year when the share was 23.2% in January, the August numbers were nearly identical to July's, at 13.2%."The number of people working remotely due to the pandemic ... held steady between July and August, so that I think is one of the biggest effects of delta here in this report," Julia Pollak, chief labor economist at ZipRecruiter, told<a href="https://abcnews.go.com/Business/employers-add-235000-jobs-august-unemployment-rate-dips/story?id=79811239"> ABC News</a>.Computer and mathematical occupations still have a high share of remote workers, with a share 46.0% in August, according to the data. Daniel Zhao, senior economist at Glassdoor, also noted in a recent <a href="https://www.glassdoor.com/research/bls-jobs-report-august-2021/">blog post on Glassdoor</a> that the share of employed workers increased by 0.2 percentage points."A resurgence in <keyword id="11905566" type="UNKNOWN" weightage="60" keywordseo="remote-work" source="Orion">remote work</keyword> is likely to delay the economic recovery even more for central business districts reliant on corporate office workers," Zhao <a href="https://www.glassdoor.com/research/bls-jobs-report-august-2021/">wrote</a>.Some companies have had to modify their reopening plans after concerns about the Delta variant and the coronavirus. For instance, <a href="https://www.bloomberg.com/news/articles/2021-08-20/apple-delays-office-return-to-at-least-january-after-covid-surge">Bloomberg</a> reported that Apple is pushing back its plans until at least January 2022. <a href="https://www.cnbc.com/2021/08/31/google-delays-return-to-office-to-january-.html">Google</a> is also pushing back reopening until January. A survey by the<a href="https://www.businessinsider.com/nyc-companies-back-to-office-survey-results-end-of-september-2021-8"> Partnership for New York City</a> found that Manhattan employers were not as hopeful to see employees back in the office in September as they previously were.The nonprofit found in an August survey that Manhattan employers expected 41% of staff will return to the office by the end of September - a steep drop from the 62% of confident employers in a May survey.Some companies across different industries are also requiring employees to be vaccinated if they are in the office as the US continues to see coronavirus cases rise.The seven-day moving average for coronavirus cases was 150,316 for September 3, according to the <a href="https://covid.cdc.gov/covid-data-tracker/#trends_dailycases">CDC</a>.64% of US adults are fully vaccinated and 74.8% have received at least one dose, according to CDC data as of September 4<a href="https://covid.cdc.gov/covid-data-tracker/#vaccinations_vacc-total-admin-rate-total"></a>.According to a list of companies compiled by <a href="https://www.nbcnews.com/business/business-news/here-are-companies-mandating-vaccines-all-or-some-employees-n1275808">NBC News</a>, companies like Goldman Sachs, Delta Air Lines, and DoorDash have some sort of vaccination requirement. Goldman Sachs is requiring people in the office, including clients, to be fully vaccinated, NBC reported. Additionally, fully vaccinated employees will have to do weekly coronavirus testing starting September 7, as well as wear masks in some areas of the office. The Delta variant and concerns about the virus aren't just affecting how people work but the recovery of jobs lost during the pandemic. The US lost over 22 million jobs in March and April last year and job figures are slowly making their way back to pre-pandemic levels.However, the US only added <a href="https://www.businessinsider.com/jobs-report-august-235000-payrolls-unemployment-rate-labor-market-recovery-2021-9">235,000 jobs</a> in August, much lower than what economists expected to see.Both <a href="https://www.businessinsider.com/pandemic-not-unemployment-keeps-workers-home-jobs-report-2021-9">Zhao</a> and <a href="https://www.businessinsider.com/how-delta-slowed-hiring-retail-stores-restaurant-hotel-jobs-report-2021-9">Nick Bunker</a>, economic research director at Indeed, told Insider that the Delta variant and the coronavirus pandemic are affecting the labor market and employment recovery. "Delta seems to be the overwhelming factor affecting the labor market right now," Zhao told<a href="https://www.businessinsider.com/pandemic-not-unemployment-keeps-workers-home-jobs-report-2021-9"> Insider's Juliana Kaplan</a>,

People are still working from home as the Delta variant pushes back employers' and workers' office plans

<ul><li>The <keyword id="6354868" type="General" weightage="20" keywordseo="UK" source="Orion">UK</keyword>'s gross domestic product (GDP) declined by 0.3 percent in August, after growth of 0.1 percent in July, the Office for <keyword id="317013" type="General" weightage="20" keywordseo="National-Statistics" source="Orion">National Statistics</keyword> (ONS) has said. </li><li>The 0.3 percent GDP fall in August was below economists' previous forecast of zero growth, deepening the concerns that the UK economy is sliding into <keyword id="6357558" type="General" weightage="20" keywordseo="Recession" source="Orion">recession</keyword>. </li><li>The production sector was the main contributor to negative GDP growth in August, falling by 1.8 per cent, and services also fell by 0.1 per cent, according to the ONS.</li></ul>The UK's gross domestic product (GDP) declined by 0.3 percent in August, after growth of 0.1 percent in July, the Office for National Statistics (ONS) has said. The 0.3 percent GDP fall in August was below economists' previous forecast of zero growth, deepening the concerns that the UK economy is sliding into recession, Xinhua news agency reported. "The economy shrank in August with both production and services falling back, and with a small downward revision to July's growth the economy contracted in the last three months as a whole," <keyword id="15240996" type="General" weightage="20" keywordseo="ONS-Chief-Economist-Grant-Fitzner" source="Orion">ONS Chief Economist Grant Fitzner</keyword> explained. The production sector was the main contributor to negative GDP growth in August, falling by 1.8 per cent, and services also fell by 0.1 per cent, according to the ONS. Output in consumer-facing services dropped by 1.8 per cent in August, and the biggest negative drivers were sports activities, and amusement and recreation activities. Construction grew by 0.4 per cent in August, the ONS said. The surprise GDP drop has echoed the Bank of England's (BoE) earlier prediction. In late September, the central bank staff expected GDP to fall by 0.1 per cent in the third quarter. The August figure suggests that the country has got "a big step closer to recession," commented Samuel Tombs, chief UK economist of Pantheon Macroeconomics, adding that "August's drop in GDP likely marks the start of a downward trend that will continue deep into next year." The GDP drop also fueled concerns among businesses. "The UK economy retreated in August. And business surveys, including our own, have turned sharply downwards since the summer and there is an increasing chance that the UK entered a downturn during the third quarter," Ben Jones, an economist from the Confederation of British Industry, said. Calling the August GDP figure "a warning sign that the economy was already stalling before the market turmoil of recent weeks," David Bharier, head of research at the British Chambers of Commerce, said business confidence is falling at an alarming rate. On Tuesday, the International Monetary Fund (IMF) said in its World Economic Outlook that a significant slowdown is projected in the UK. "Growth is forecast at 3.6 per cent in 2022 and 0.3 per cent in 2023 as high inflation reduces purchasing power and tighter monetary policy takes a toll on consumer spending and business investment," the report said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/whatsapp-now-a-spam-factory-1-in-2-indian-swamped-with-promotional-messages-report/articleshow/94815568.cms">WhatsApp now a spam factory, 1 in 2 Indian swamped with promotional messages: report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/avoid-sectors-having-global-exposure-like-it-oil-gas-icici-securities/articleshow/94815478.cms">Avoid sectors having global exposure like IT, oil, gas: ICICI Securities</a>

Recession fears mount as UK GDP falls 0.3% in Aug

<ul><li>On Friday, the Central Statistics Office (CSO) in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> stated that the Indian economy has grown by 8.2% during <keyword id="6846461" type="UNKNOWN" weightage="20" keywordseo="Q1-2018">Q1 2018</keyword>. </li><li>While this may make India the <keyword id="104231" type="PERSON" weightage="20" keywordseo="fastest-growing-economy">fastest growing economy</keyword> in the world at present, the added benefits of a growing economy are not at par with that pace. </li><li>That being said, the growth numbers for India has resulted in a stronger rupee since the markets opened today morning.</li></ul>While the International Monetary Fund may have <a href="https://www.businessinsider.in/why-the-imf-revised-indias-growth-projection-and-why-it-doesnt-matter/articleshow/65024850.cms">revised</a> its estimates for India’s growth this year, the Central Statistics Office (CSO) <a href="https://www.bloomberg.com/news/articles/2018-08-31/india-s-economic-growth-continues-world-beating-pace-at-8-2">announced</a> that the Indian economy grew by 8.2% between the months of April to June. This puts India at the helm as the world’s fasting growing economy beating China’s top spot., which witnessed a growth of 6.7%. The Finance Minister tweeted that the reforms put in place by government as well as the fiscal prudence shown by the regulators that are allowing the economy to grow even in the midst of global turmoil. That being said, overtaking China might have a lot to do with the ongoing <a href="https://www.businessinsider.in/indian-products-can-be-more-competitive-in-the-shadow-of-the-us-china-trade-war/articleshow/65294615.cms">trade war</a> between the Asian nation and the United States. 
	
	<div type="twitter" handle="arunjaitley" handlename="Arun Jaitley" image="http://pbs.twimg.com/profile_images/378800000828197225/f1d53aeab8f0534c7d73b0fbd5651130_normal.png" favoritecount="13245" retweetcount="3372" status="India’s GDP for the first quarter this year growing at 8.2% in otherwise an environment of global turmoil represent… https://t.co/1aVLJCOifl" createdat="1535725757000" id="1035534996877049856"></div>





 
	
	<div type="twitter" handle="arunjaitley" handlename="Arun Jaitley" image="http://pbs.twimg.com/profile_images/378800000828197225/f1d53aeab8f0534c7d73b0fbd5651130_normal.png" favoritecount="3314" retweetcount="596" status="Reforms and fiscal prudence are serving us well. India is witnessing an expansion of the neo middle class." createdat="1535725836000" id="1035535329036525569"></div>





 The Economics Affairs Secretary, Subhash Chandra Garg, stated that India seems to be on track in its goal of meeting more than 7.5% growth for FY2018-19. 
	
	<div type="twitter" handle="SecretaryDEA" handlename="Subhash Chandra Garg" image="http://pbs.twimg.com/profile_images/893364676943241217/sYceriFF_normal.jpg" favoritecount="338" retweetcount="83" status="Excellent growth performance in I qrtr. 8.2% overall growth, 13.5% growth in manufacturing and over 10% in capital… https://t.co/0MGgQHxxWh" createdat="1535723306000" id="1035524719074635776"></div>





 The driving forces behind this growth are the country’s manufacturing and the consistent increase in the demand of consumption goods. A report <a href="https://www.businessinsider.in/local-phone-manufacturing-saves-india-3-trillion-through-make-in-india/articleshow/65517201.cms">published</a> by the Indian Cellular and Electronics Association (ICEA) analysed that the import substitution of cell phone manufacturing results in saving of ₹3 trillion for India. Growth without the benefits The main benefits of a growing economy, in theory, are employment generation, higher living standards, stimulating new investments, and a greater fiscal dividend. But the fact of the matter is that despite growth, the positive externalities are yet to present themselves. It’s not that jobs aren’t being created or that investments aren’t increasing, but their pace is at parity with the growth trajectory. The most recent report by the<a href="https://www.businessinsider.in/indias-wage-growth-significantly-trails-economic-growth-says-the-ilo/articleshow/65488218.cms"> International Labour Organisation (ILO)</a> highlights how India’s growth hasn’t been inclusive with a gaping rural-urban divide as well as a gender-wage inequality. And, speaking of <keyword id="44749" type="ORGANIZATION" weightage="20" keywordseo="Foreign-Direct-Investment">foreign direct investment</keyword> (FDI), while there has been a steady increase, it’s important to remember that it’s largely <a href="https://www.bloombergquint.com/opinion/2018/05/18/where-is-all-the-fdi-into-india-really-coming-from-and-going-to#gs.hYSow9Y">due to</a> ‘preferential’ tax treaties between India and countries like Mauritius and Singapore. The top three sectors to gain from FDI have been services, telecommunications and computer services. While long-term benefits are yet to pick their pace, in the short run we can see that the rupee has already <a href="https://www.livemint.com/Money/PzIU47dwgmmKyIS2L8WdDP/Rupee-strengthens-against-US-dollar-after-GDP-beats-estimate.html">strengthened</a> against the dollar since the news of India’s growth broke on Friday. It has increased to trading at ₹70.84 a dollar from ₹71 a dollar at market opening on Monday.

India overtakes China to become the world’s fastest growing economy in Q1 2018

<ul><li>India’s largest <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) has put out an official notification for recruitment of Officers in Grade B. </li><li>As many as 199 vacant positions are there in the Department of Economic and Policy Research and Department of Statistics and Information Management. </li><li>The bank will offer a starting salary of ₹35,150 per month. In the case of candidates with high academic qualification or a prior experience in banking, the bank may extend upto four advance increments to its employees. </li><li>Other perks include Bank's accommodation, reimbursement for vehicle maintenance, phone bills, newspaper among others.</li></ul>The Reserve Bank of India (RBI) has put out an official notification for recruitment of Officers in Grade B. With this, the central bank plans to hire for as many as 199 vacant positions. This includes vacancies in the Department of Economic and Policy Research (DEPR) and Department of Statistics and Information Management (DSIM). The interested professionals can apply on the <a href="https://www.rbi.org.in/scripts/Bs_viewcontent.aspx?Id=3766">official website</a> of Reserve Bank of India and the last date to apply is October 11. The candidates shall be posted across locations in India, depending on the requirements. The selected candidates will be a part of Combined Seniority Group, which will decide the ranking according to the seniority levels of the Officers. Salary and other perks The bank will offer a starting salary of ₹35,150 per month. However, in the case of candidates with high academic qualification or a prior experience in banking, the bank may extend upto four advance increments to its employees. Other than that, the hired candidates will also be eligible for dearness allowance, local allowance, house rent allowance, family allowance, and grade allowance as per the bank’s policy. The employees also have the flexibility to opt for residential accommodation on lease. The selected candidates will also be a part of government’s New Pension Scheme (NPS). Other perks include Bank's accommodation, reimbursement for vehicle maintenance, phone bills, newspaper among others. The bank also provides its employees a Leave Fare Concession (LFC) that renews every two years. Age and eligibility The candidates applying for the vacancies at the bank must be aged between 21-30 years. However, the upper age limit may be relaxed for reserved categories. The minimum educational qualification of a candidate applying for the post of Officers in Grade 'B' General is a bachelor’s degree with at least 60% marks. While for the Officers in Grade 'B' (DR) - DSIM will require a postgraduate degree in Statistics, Mathematical Economics, Econometrics or Statistics &amp; Informatics from elite institutions including IIT-Kharagpur, IIT-Bombay. The applicant can also be a postgraduate from <keyword id="6528736" type="COMPANY" weightage="20" keywordseo="indian-statistical-institute">Indian Statistical Institute</keyword> with a minimum of 55% marks.

Nearly 200 high-paying officer-level jobs have opened up at the Reserve Bank of India

<a href="http://www.businessinsider.in/searchresult.cms?query=Union+Budget+&amp;sortorder=effectivedate">Union Budget </a>2017 may make individuals and corporate taxpayers happy as the government is now looking forward to make things cheerful after what happened post <a href="http://www.businessinsider.in/searchresult.cms?query=demonetisation&amp;sortorder=effectivedate">demonetisation</a>. The measures will be targeted on reviving demand and stimulating private investment to boost overall growth. 
 
The measures that can be taken into consideration are revamping of the <a href="http://www.businessinsider.in/searchresult.cms?query=income-tax+&amp;sortorder=effectivedate">income-tax </a>framework for individuals to increase their take home pay, thus persuading them to start buying more goods and services, and a reduction in the corporate tax rate to encourage companies to invest. 
 
"There are multiple proposals on the table. The government is keen on enhancing the purchasing power of people to boost demand,” a government official, told ET. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=The+Central+Statistics+Office&amp;sortorder=effectivedate">The Central Statistics Office</a> (<keyword id="109702" type="ORGANIZATION" weightage="20" keywordseo="CSO">CSO</keyword>) has estimated that the economy will grow 7.1% in the current financial year, slower than 7.6% last year, but this forecast didn't include the impact of demonetisation. 
 
However, private estimates suggest the economy could do worse and may need a stimulus. 
 
"Some fiscal stimulus measures to embed a feel-good factor and stimulate consumption and investment could be taken up. An expected increase in the tax base due to the surge of bank deposits post demonetisation as also GST (goods and services tax) introduction may give leeway to the government in this regard,” Sudhir Kapadia, national tax leader, EY, told ET. 
 
The emphasis is therefore likely to be in favour of widening tax brackets and enhancing deductions such as those on housing loans, something that would also perk up the flagging real estate sector. 
 
Another thing that is being considered is widening slabs or cutting rates for the lowest bracket, which could enhance compliance by encouraging people to pay tax. 
 
The lowest slab of 10% is on annual income of Rs 2.5 lakh to Rs 5 lakh and 20% from Rs 5 lakh to Rs 10 lakh. Above Rs 10 lakh, tax is levied at 30%. 
 
Policymakers contend that while the government intensifies efforts to bring more people within the tax net, it needs to reward those who have been paying taxes diligently. Only 3.91 crore people filed tax returns in FY15, out of which 1.83 crore paid an average tax of Rs 26,000. 
 So the Rs 2.5-5 lakh slab could be widened and may be even taxed at a lower rate. The reintroduction of standard deduction, which had been abolished by former finance minister <keyword id="43940" type="PERSON" weightage="20" keywordseo="P-Chidambaram">P Chidambaram</keyword> in the FY06 budget, is also under consideration.

Budget 2017 may give individual, corporate tax payers a cheer, here’s how

<ul class="summary-list"><li>The February <keyword id="134929" type="PERSON" weightage="60" keywordseo="jobs-report">jobs report</keyword> exceeded expectations and hints at how reopening can accelerate job growth.</li><li>The bulk of the job gains came from industries hit the hardest by the pandemic.</li><li>Stronger hiring is coming, it's just a matter of "how long it takes to get there," BlackRock said.</li></ul>The February jobs report shows the <keyword id="409455" type="PERSON" weightage="60" keywordseo="labor-market">labor market</keyword> in reopening rehearsal. The US <a href="https://www.businessinsider.com/february-jobs-report-379000-payrolls-unemployment-rate-labor-market-recovery-2021-3">added 379,000 nonfarm payrolls last month</a>, handily exceeding the median economist estimate of 200,000 additions. The unemployment rate fell to 6.2% from 6.3%, labor force participation held steady, and the number of Americans citing COVID-19 for not seeking employment fell by 500,000.The drivers behind the gains are also encouraging.While the drop in unemployment seen in January was largely tied to more Americans dropping out of the labor force, last month's dip was tied to increased hiring across a broad set of sectors. The payroll increase would've "easily" topped 500,000 had adverse weather not contributed to construction jobs falling by 61,000, Morgan Stanley economists led by Robert Rosener said.For all intents and purposes, the report came in more positive than expected. Investors overwhelmingly thought so, too. Treasurys declined sharply as traders bet on a faster-than-expected economic rebound, bringing the 10-year yield to its highest level since February 2020. The Dow Jones industrial average and S&amp;P 500 gained, led by cyclical and value stocks.<h2>Fanning February's flames</h2>A deeper dive into the data shows a recovery that's found its footing. The leisure and hospitality industries - among those hit hardest by the pandemic and resulting restrictions - counted for 355,000 of the month's payroll additions. Temporary job losses declined, suggesting businesses were able to reopen and rehire workers as COVID-19 case counts fell nationwide. The overall gains are a "surprise" and can be boiled down to reopening "arriving earlier than expected," Brian Coulton, chief economist at Fitch, said.Warming weather, continued vaccination, and even lower daily case counts stand to supercharge job gains into the summer. Plenty on Wall Street agree. The data "suggest that the labor market recovery is accelerating in earnest," Bank of America economists Joseph Song and Michelle Meyer said Friday.Michael Feroli, chief US economist at JPMorgan, said investors can expect "even better numbers" as reopening provides an "incredibly powerful tailwind.""There is no ambiguity regarding where employment is headed, in our view, but just how long it takes to get there," Rick Rieder, chief investment officer of global fixed income at BlackRock, said.<h2>Not so fast</h2>Still, the battle is far from won. A handful of datapoints signal the climb to maximum employment will be much steeper than the 6.2% U-3 rate implies. Ahead of the February report's release, Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen repeatedly said the <a href="https://www.businessinsider.com/us-unemployment-rate-double-official-rate-fed-worst-great-recession-2021-2">"real" unemployment rate</a> was closer to 10%. The unofficial estimate included Americans <a href="https://www.bls.gov/covid19/employment-situation-covid19-faq-february-2021.htm">misclassified as being employed</a> and <a href="https://www.bls.gov/news.release/empsit.t01.htm">those who dropped out of the labor force</a> since the pandemic began.That "real" rate <a href="https://www.businessinsider.com/real-unemployment-rate-february-jobs-report-yellen-powell-labor-market-2021-3">improved to 9.1%</a> through February, according to Insider analysis. While this is down significantly from the year-ago peak of nearly 24%, the pace of decline slowed significantly through the winter.The U-6 unemployment rate - which tracks people marginally attached to the workforce and Americans employed part-time for economic reasons - showed no improvement at all and held at 11.1% last month.These gloomier datapoints practically guarantee Powell will keep ultra-easy monetary conditions in place for the foreseeable future. The Fed chief cautioned on Thursday that it "<a href="https://www.businessinsider.com/fed-jerome-powell-inflation-patient-stimulus-treasury-yields-reopening-monetarypolicy-2021-3">will take some time</a>" to achieve the central bank's goal of maximum employment. The healthy decline in baseline unemployment is cause for some optimism, but a broad set of criteria need to be met to ensure the recovery is robust, he added."We want to see wages moving up. We'd want to see that the gains in employment are broad-based and that different demographic groups were experiencing it," Powell said. "We have a high standard for identifying what maximum employment is."The still-elevated unemployment rate has also been cited by Democrats as a sign additional stimulus is still warranted. Senate Democrats <a href="https://www.businessinsider.com/senate-democrats-stimulus-plan-kick-off-marathon-debate-2021-3">kickstarted a lengthy amendment process</a> on Friday with aims to pass a $1.9 trillion relief package over the weekend. The deal includes $1,400 direct payments, a $400 supplement to federal unemployment benefits, and funding for state and local governments.While Republicans have argued the bill is a case of overspending, Democrats have pointed to lasting labor-market pain as justification for the hefty price tag. The bulk of February's payroll gains can be traced to business reopenings, but an additional stimulus package could boost demand and drive new demand for workers.

The February jobs report shows Americans are eager for a full reopening

The growth story of <keyword id="38260" type="TECHNOLOGY" weightage="20" keywordseo="mobile-phones">mobile phones</keyword> in India is on the upsurge. And now <a href="http://www.businessinsider.in/searchresult.cms?query=mobile+phones">mobile phones</a>, which have almost become the first consumer electronic item of purchase for Indians, will find a prominent place in the new series of Index of Industrial Production (<keyword id="6427912" type="ORGANIZATION" weightage="20" keywordseo="IIP">IIP</keyword>, an official privy to the development told The Economic Times. 
 
The official further added that as part of large-scale changes in consumer purchases of durables in a comprehensive revamp of the IIP, mobile phones and accessories will be pulled out as a separate category from telephone instruments. 
 If we believe the report, the <keyword id="6428119" type="ORGANIZATION" weightage="20" keywordseo="Central-Statistics-Office">Central Statistics Office</keyword> (CSO) is expected to roll out a new series of IIP with effect from April 2016. Under the revised IIP, LED and LCD television sets will be placed in special categories instead of the existing classification called colour TV sets, said the official. 
 
Besides televions sets, laptops, notebooks and netbooks are likely to be place under separate category as compared to the present electronics category called 'computers'. 
 
Revealing that almost 100 new products have been added in the IIP basket, the official said, "A lot of changes are happening in the electronics segment and we have made new categories besides removing obsolete items form the index." 
 
The changes are part of the periodic rejig in the <a href="http://www.businessinsider.in/searchresult.cms?query=iip">IIP </a>basket as part of the base year revision exercise for the index. The current IIP has a base year of 2004-05, which does not capture the vast changes in usage and the corresponding changes in the industrial set up to deliver those goods. 
 Given the booming demand, mobile phones call for a separate category in the industrial index. India is the world's fastest growing smartphone market and, as per research firm <keyword id="6377157" type="CITY" weightage="20" keywordseo="IDC">IDC</keyword>, of the 59.4 million units shipped in the country in the quarter ended June, 26.5 million were <a href="http://www.businessinsider.in/searchresult.cms?query=smartphones">smartphones</a>. 
(Image: Thinkstock)

Know why mobile phones will find prominent place in the new IIP series

<ul><li>The <keyword id="6359231" type="General" weightage="20" keywordseo="Central-Bank-of-India" source="Orion">Central Bank of India</keyword> is recruiting 115 people in India under various profiles like Data Scientist, Economist, Income Tax officer and many more.</li><li>The online applications for all these positions will commence on November 23, 2021 and the last date to apply is December 17, 2021.</li><li>Candidates will also have to pay an application fee of ₹850 plus GST.</li></ul>Central Bank of India, a Mumbai-based government owned bank, is recruiting 115 people in India under various profiles like Data Scientist, Economist, Income Tax officer and many more. The online applications for all these positions will commence on November 23, 2021 and the last date to apply is December 17, 2021. These are the roles available with the Central Bank of India — <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Role </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of vacancies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eligibility criteria </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Economist </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum 5 years of work experience in commercial banks or any other PSUs with PhD in Economics/ banking/commerce /economic policy/public policy. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Income Tax Officer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chartered Accountant (preferably passed in one attempt) with minimum 10 years post qualification experience (as on 30.09.2021) in the field of direct taxation -- supervisor in any financial institution/PSU bank/private sector banks/big four CA firm/category 1 chartered accountant firm prescribed for bank audit as per RBI guidelines. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Information Technology (scale V) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum 10-12 years’ experience in a similar role in designing and launching digital products/platforms in BFSI Sector or Fintech companies with compulsory bachelor’s or master’s degree in engineering disciplines like computer science/information technology(IT)/electronics and communication or master’s in computer application from any recognised university or institution. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Data Scientist </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum 8-10 years of relevant post-qualification experience in the area of data analytics/data science/data statistics/data mining in commercial bank/financial companies/financial services organisations/IT services companies with financial domain with Post graduate degree in statistics/econometrics/mathematics/finance/economics/computer science or bachelor’s of engineering (B.E)/bachelor’s of technology (B.Tech) in computer science/IT from any recognised university or institute. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Credit Officer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chartered Accountant (CA)/ chartered financial analyst (CFA) with three years of post qualification experience Or MBA in finance with at least 4 years of post qualification work experience. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Data Engineer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum 5 years of relevant post-qualification experience in the area of data analytics/data science/data statistics/data mining in commercial bank/financial companies/financial services organisations/IT services companies with financial domain with post graduate degree (or equivalent diploma) in statistics/econometrics/mathematics/finance/economics/computer science or B.E./B.Tech in computer science/IT. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT Security Analyst </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum 6 years of post-basic qualification experience in IT, out of which minimum 3 years in ethical hacking /red teaming /threat hunting /application security/digital forensic analysis with engineering graduate in computer science /IT/master’s in computer application(MCA) /master’s in science (IT or computer science) from recognised university or institute. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT SOC Analyst </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum 6 years of post-basic qualification experience in IT, out of which minimum 3 years in operations like event analysis, rule creation, automation,asset integration, incident management, monitoring and compliance with graduation in engineering in computer science /IT/MCA / M.Sc.(IT or computer science) from a recognised university or institute. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Risk Manager </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum 3 years post-qualification experience in risk management/credit / treasury with MBA in finance/ banking or post graduate diploma in banking/finance/statistics. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Technical Officer (Credit) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 years of experience in total enterprise value (TEV) study or project appraisal with banks or financial institutes with a degree in engineering in civil/mechanical/production/metallurgy /textile/chemical. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Analyst </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CA or MBA in finance with 3 years experience as an officer in a public sector bank/undertaking in the reputed field. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Information Technology (scale II) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 years of work experience in the IT field with 3 years engineering degree in computer science/computer applications/information technology/electronics/ electronics and telecommunications /electronics and communications /electronics and instrumentation. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Law Officer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 3 years of post-qualification experience of practice at Bar or Judicial service or 2 years as a law officer in the legal department of a scheduled commercial bank or the central/state government or of a public sector undertaking. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Risk Manager </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum 2 Years of post-qualification experience in risk management/credit/treasury with MBA/post graduate diploma in banking/finance or post graduate in statistics/math/banking &amp; finance with aggregate of at least 60% marks from any Indian university or institute. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Security (scale I &amp; II) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">For scale I — Ex-Junior commissioned officers with minimum 5 years of service as JCO in Indian Army or equivalent rank from Air Force, Navy and Para Military Forces. For scale II — Ex-Commissioned officers of the Rank of Captain or above from Indian Army with minimum 5 years service or equivalent rank from Air Force, Navy and Para Military Forces. </td></tr></tbody></table> Selection procedure — <ol><li>Selection will be done through an online written test and personal interview. </li><li>The online test is scheduled for January 22, 2022 at these locations -- Ahmedabad, Bengaluru, Bhubaneshwar, Bhopal, Chennai, Chandigarh, Delhi, Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, Pune, Raipur &amp; Patna centres. </li><li>Candidates who manage to clear the online test will be called for the next round i.e., personal interview.</li></ol> Candidates will also have to pay an application fee of ₹850 plus goods and services tax (GST) ( for applicants belonging to general category) and ₹175 plus GST (for applicants belonging to schedule caste (SC) or schedule tribe (ST). Interested candidates can seek out more information <a href="https://www.centralbankofindia.co.in/sites/default/files/2021-11/Notification_Recruitment_of_Specialist_Officers-2022-23.pdf">here</a> and can apply <a href="https://www.centralbankofindia.co.in/en/recruitments">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/if-you-are-travelling-from-india-to-singapore-heres-how-to-apply-for-your-vaccinated-travel-pass/articleshow/87846159.cms">If you are travelling from India to Singapore, here’s how to apply for your Vaccinated Travel Pass</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/oppo-reportedly-plans-to-launch-electric-vehicles-in-india-by-2024/articleshow/87846882.cms">Oppo reportedly plans to launch electric vehicles in India by 202</a>

Central Bank of India is hiring for 115 vacancies across various domains

<ul class="summary-list"><li>Activists staked out the <keyword id="11895523" type="UNKNOWN" weightage="60" keywordseo="federal-reserve" source="Orion">Federal Reserve</keyword> on Tuesday, urging officials to keep a focus on workers.</li><li>The protest came a day before the <keyword id="11894209" type="UNKNOWN" weightage="60" keywordseo="fed" source="Orion">Fed</keyword>'s first triple-sized <keyword id="12955126" type="UNKNOWN" weightage="60" keywordseo="rate-hike" source="Orion">rate hike</keyword> since 1994 to fight <keyword id="11894140" type="UNKNOWN" weightage="60" keywordseo="inflation" source="Orion">inflation</keyword>.</li></ul>The Federal Reserve is in full inflation-fighting mode, raising interest rates at <a href="https://www.businessinsider.com/fed-rate-hike-june-fomc-decision-interest-rates-inflation-surging-2022-6">the fastest pace in nearly three decades</a> to slow the country's yearlong price surge.A group of labor activists say that's the exact opposite of what policymakers should be doing. The <keyword id="14235467" type="UNKNOWN" weightage="60" keywordseo="fed-up" source="Orion">Fed Up</keyword> Campaign organized a cohort and protested outside the Fed with that message on Tuesday as the <keyword id="11964297" type="UNKNOWN" weightage="60" keywordseo="central-bank" source="Orion">central bank</keyword>'s leaders met to decide on the next month of <keyword id="11930325" type="UNKNOWN" weightage="60" keywordseo="monetary-policy" source="Orion">monetary policy</keyword>. Instead, officials should keep fueling the labor market's recovery, they said.Since 1977, the Fed has set its policies in pursuit of two goals: maximum employment and price stability. The so-called "dual mandate" is tricky to achieve. A tight labor market can lead to inflation as workers demand higher wages and businesses raise prices accordingly. Cooling high inflation with higher interest rates, meanwhile, can slow the <keyword id="11893570" type="UNKNOWN" weightage="100" keywordseo="economy" source="Orion">economy</keyword> down and spark widespread layoffs.Rate hikes are the Fed's best tool for cooling inflation, but they come with the side effect of slower economic growth. So far, the tradeoff doesn't seem to be working, Lindsay Owens — the executive director of The Groundwork Collaborative — told Insider."We're all rooting for a soft landing, but the worst-case scenario is high prices and high unemployment, and I really do worry that we're headed there," Owens said. "We're getting the stock-market crash. We're getting the wage-growth deceleration. And we're not getting the energy prices down."The dual mandate leaves the Fed in a perpetual balancing act. In 2022, the central bank is leaning heavily toward solving the country's inflation problem. Data published Friday showed prices <a href="https://www.businessinsider.com/inflation-report-cpi-may-gas-prices-federal-reserve-rate-hikes-2022-6">soaring 8.6% in the year through May</a>, marking the fastest inflation since 1981. The overshoot was enough for the Fed to issue <a href="https://www.businessinsider.com/fed-rate-hike-june-fomc-decision-interest-rates-inflation-surging-2022-6">its first triple-sized rate hike since 1994</a> on Wednesday and signal such an increase could come in July.It's exactly what the Tuesday protesters didn't want to see. The inflation problem, they said, isn't powered by low rates, but corporate greed. Industry consolidation has allowed for companies to pass <a href="https://www.businessinsider.com/inflation-outlook-monopolies-industry-concentration-boosting-prices-boston-federal-reserve-2022-5">a greater share of elevated costs onto consumers</a> through higher prices, according to a recent study by researchers at the Boston Fed.Couple that with still-snarled supply chains and Russia's invasion of Ukraine sending oil, food, and other commodity prices sky-high, and its clear that several factors outside the Fed's control are driving inflation higher. By hiking rates aggressively through 2022, the Fed is taking power from workers when the soaring prices are not their faults, the activists said."Look at the way many oil companies, housing developers, and other corporations are making record profits while consumer prices go up and wages and worker benefits stagnate," Justin Rogers, an activist from New Mexico, said. "Raising interest rates may slow down the inflationary rise of the cost of consumer goods, but it won't get to the root of the problem."A larger-than-usual rate hike is only a "symbolic resolution" to high inflation, C. Arthur Blair — a retiree participating in the stakeout — told Insider. He added that he'd rather see the Fed "not raise it" if it won't address the core drivers of rising prices.Jerome Powell — the chair of the Fed — emphasized in a June 15 press conference that the labor market is strong enough to shoulder higher rates, and that the central bank will do what it can to bring inflation to heel. The country "cannot have the kind of labor market we want without price stability," Powell said, adding "many factors that we don't control" will play a role in deciding whether inflation cools down.With job openings near record highs and the US still adding payrolls at a stronger-than-usual pace, slowing the jobs recovery is one of the few ways the Fed can get a hold on inflation, Powell added."There's a path for us to get there. It's not getting easier. It's getting more challenging because of these external forces," he said. "That path is to move demand down, and you have a lot of surplus demand, take, for example, in the labor market."Yet not all workers have felt the benefits of today's tight labor market. While the unemployment rate for white Americans hit 3% in May, the same measure for Black Americans rose to 6%, according to the Bureau of Labor Statistics. The unemployment rate for Hispanic and Latino Americans rose to 4%.Those racial gaps in the labor market have closed significantly since the start of the pandemic. Hitting the brakes on economic growth, however, will prematurely stop that healing and leave swaths of disadvantaged workers behind, the activists said. "Black workers continue to reenter the labor force. The share of the Black population employed continues to rise," Jennifer Wells — the deputy director of Black Led Organizing at the policy office Community Change — said. "These are positive trends, but we have such a long way to go. And they are in that room making decisions to slow what little we have down."

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