MyPagExtra Mailed with May 2012 issue of M G Warrier’s MY PAGE CONTENTS:A. Finance: i) Gold management needs a makeover (Warrier’s article in the Hindu Business Line, April 13, 2012)ii) Interest rates on small savings schemes, 2012-13 B. Spirituality: Quotes from Shankaracharya and some comments C. Health-Managing cholesterol-Some tips Gold management needs a makeover M G Warrier …from ornamental to tradable gold. The management of gold reserves has been a subject of intense debate and controversy. The Budget 2012-13 has proposed a doubling of customs duty, while the Reserve Bank has expressed its concern about rising imports of gold and other precious metals. In March 2011, the World Gold Council identified India as a key driver of global gold demand. It made the following observations: At more than 18,000 tonnes, Indian households hold the largest stock of gold in the world. Gold purchases in India accounted for 32 per cent of the global total in 201
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Time is opportune for India to think in terms of setting up a rating agency of international standard which will advise stakeholders about the health of domestic financial institutions and the financial institutions and governments abroad with which India has dealings. Agencies like Standard and Poor and Moody’s are doing their work within their limitations and even they would be benefited if an internationally acceptable rating agency comes into being in India .