As expected, it was a status-quo Credit Policy. No one had expected a rate cut and the RBI Governor has pretty much indicated the same in June; so no surprises there. But more than the Monetary Policy, this meet was more about the Monetary Policy Committee (MPC). Speculation has been rife about the Govt planning to set up the much needed MPC but in the process, may end up clipping the wings of the RBI, with Govt getting more power to call the shots.

Remember the issue of Infosys? It came way back in 1993 and shares were issued at Rs.95/share. Today even when it is not exactly at its best, it is at over Rs.2000/share. HDFC Bank came out with an IPO in 1995 and it was priced at par, at an unbelievable Rs.10/share. It was oversubscribed 55 times

“Zero tolerance for unethical behavior!” Saying that is one thing but actually acting upon it is quite another! The Chairman and CEO of KPMG, one of the four from the “Big Four” auditing firms, uttered these words and actually fired her top man and deputy for indulging in what could be termed as “insider trading.”