Manipal: Former RBI director interacts with TAPMI students

[email protected] (CD Network)
October 23, 2015

Manipal, Oct 23: The former director of the Reserve Bank of India (RBI), Dr. Y. V. Reddy interacted with the students of TAPMI on various economic and financial issues at the 20th Leadership Lecture of the institute.

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Answering questions framed by students of TAPMI, he said that countries like USA, UK, China, and Russia have spent a lot on research and development and the Indian government should follow suit. He also said that it is unadvisable to impose minimum spending limits on Indian corporates with regard to the same.

Carrying on with the issue of spending, he said that it should be undertaken only by the government and the reliance on privatesector and public sector banks should reduce. The strength of public sector banks lies in funding working capital and small loans rather than financing infrastructure projects. The way forward lies in structuring finances better.

Regarding the possibility of having different inflation indices for different states, he said that even though there are a lot of deficiencies in the indices that measure inflation, it is unfavorable to have separate indices for different states. For policy framing purposes, it is ideal to have only one index such as the Consumer Price Index, the Wholesale Price Index or the Producer Price Index as more indices only complicate matters.

Moving forward, he said that that there exists no tradeoff between inflation and growth and that the RBI has to harmonize with the government when it comes to policies, maintain operational autonomy and coordinate when it comes to structural changes.

On the issue of external debt management and whether the percentage of external debts maturing after a year are worrying signs or not, he said that the presence of sufficient amount of reserves is enough to not cause any worries.

He also said that the recommendation of the Financial Sector Legislative Reform Commission (FSLRC) to shift the regulatory power of money market from RBI to SEBI is not important. The emphasis is on cooperation and not on separation. According to him, FSLRCs should be managed by the RBI as it has the necessary tools to handle a financial crisis, should it arise.

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News Network
December 15,2025

Mangaluru police have arrested a 27-year-old NRI on his return from Saudi Arabia in connection with an Instagram post allegedly containing derogatory and provocative remarks about the Hindu religion, officials said on Monday.

The accused, Abdul Khader Nehad, a resident of Ulaibettu in Mangaluru, was working in Saudi Arabia when the post was uploaded, police said.

A suo motu case was registered at the Bajpe police station on October 11 after an allegedly offensive post circulated from the Instagram account ‘team_sdpi_2025’. Police said the content was flagged for being provocative and derogatory in nature.

During the investigation, technical analysis traced the Instagram post to Nehad, who was residing abroad at the time, a senior police officer said. Based on these findings, a Look Out Circular (LOC) was issued against him.

On December 14, Nehad arrived from Saudi Arabia at Calicut International Airport in Kerala, where he was taken into custody on arrival. Police said further investigation is underway.

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News Network
December 4,2025

Udupi: A 40-year-old NRI from Udupi has reportedly lost more than Rs 12.25 lakh in an online investment scam operated through Telegram.

According to a complaint filed at the CEN police station, Leo Jerome Mendonsa, who has been working in Dubai for the past 15 years in computer accessories sales, maintains NRI accounts in Karkala and Nitte.

On November 12, 2025, Mendonsa was added to a Telegram group called Instaflow Earnings by unknown individuals. Users identified as Priya and Dipannita persuaded him to invest in “Revenue Tasks.” Initially, Mendonsa transferred Rs 1,100 multiple times and received the promised returns, encouraging him to continue.

On November 14, another user, Nishmitha Shetty, directed him to register on a website, digitvisionuoce.cc, and invest Rs 4 lakh in various shares. Over the next few days, he made multiple transfers totaling Rs 12,25,000, including Rs 50,000 via Google Pay, believing the scheme was legitimate.

After receiving the money, the alleged handlers stopped responding, and neither the invested amount nor the promised profits were returned.

The CEN police have registered a case under Sections 66(C) and 66(D) of the IT Act and Section 318(4) of the Bharatiya Nyaya Sanhita (BNS), and investigations are ongoing.

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News Network
December 15,2025

Mangaluru, Dec 15: Air India Express has announced that it will resume direct flight services between Mangaluru and Muscat from March 2026, restoring an important international air link for passengers from the coastal region.

Airport authorities said the service will operate twice a week—on Sundays and Tuesdays—from March 1. The initial flights are scheduled on March 3, 8 and 10, followed by March 15 and 17, with the same operating pattern to continue thereafter. The flight duration is approximately three hours and 25 minutes.

The Mangaluru–Muscat route was earlier operated under the 2025 summer schedule, with services beginning on July 14. At that time, Air India Express had operated four flights a week before suspending the service.

Officials said the summer schedule will come into effect from March 29, after which changes in flight timings and departure schedules from Mangaluru are expected. Passengers have been advised to check the latest schedules while planning their travel.

The resumption of direct flights to Muscat is expected to significantly benefit expatriates, business travellers and others, further strengthening Mangaluru’s air connectivity with the Gulf region.

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