Wednesday, September 19, 2007

From :- Gitanjali

oh life of my life, I shall ever try to keep my body pure,
knowing that thy living touch is upon all my limbs.

I shall ever try to keep all untruths out from my thoughts,
knowing that thou art that truth which has kindled the light of reason in my mind.

I shall ever try to drive all evils away from my heart and keep my love in flower,
knowing that thou hast thy seat in the inner most shrine of my heart.
And it shall be my endeavour to reveal thee in my actions,
knowing it is thy power gives me strength to act.

Rabindra Nath Tagore

Monday, September 17, 2007

Wednesday, September 12, 2007

Mumbai as an IFC

Key recommendations of Mistry committee
-Full capital account convertibility by 2008-end
-Eliminate securities transaction tax by 2007 and stamp duties by 2008
-Open up purchase of rupee-denominated debt instruments issued by the government to all buyers
-Focus monetary authority exclusively on single task of managing key short-term 'base rate' by 2009-10
-Set up independent public debt management office by 2009
-hift financial regulatory regime from rules-based regulation to principles-based regulation by 2011
-Permit unrestricted entry of well-known global accounting firms operating in IFCs/GFCs by 2008
-Transfer all regulation/supervision of any type of organised financial trading to SEBI by 2008