Monetary Policy in Advance and Emerging Countries: Comparision and Contrast 
Last date for registration: 11 Sep, 2015
End Date : 22 Sep, 2015
Early Bird Discount Date : 31 Aug, 2015
Residential Early Bird Fee(excluding GST) : Rs. 44,650
Non-Residential Fee(excluding GST) : Rs. 42,000
Non-residential Early Bird Fee(excluding GST) : Rs. 39,900
The program aims to explain in detail one component, monetary policy, of the Impossible Trinity in economics. The objective of the program is to understand monetary policy and its implications of monetary policy of advanced countries on India.
Monetary Policy is undertaken by the central bank of the country. In India, Reserve Bank of India (RBI) conducts monetary policy and uses various tools to implement the same. The program will try to unravel the “black box” which is the central bank and discuss the felt need of a better communication policy.
Monetary policy will be discussed in detail and the program will also try to explain as to how the RBI which is a regulator and supervisor of the banking system operates its monetary policy instruments through the banking system. The role of the RBI as a banker to the central and state governments would be discussed in the context of monetary tools.
In addition, the program will also cover the developments in monetary policy in advanced countries, especially the US and the Euro area and its implications for countries like India.
In addition to the anchor from the faculty, who has served in the RBI for more than two decades and at the IMF for more than three years, there will be a number of senior officials, serving and retired, from the RBI and leading commercial banks to share their knowledge with the participants.
The program will cover all the aspects of the monetary policy ranging from institutions involved and the instruments used. The program will start from the basic concepts and then discuss about the open market operations, balance sheet of the RBI, exchange rate management, debt management, financial markets, cash management, and currency management. The program will also cover banking policy and issues like financial inclusion, inflation targeting and independence of the RBI.
* Instruments of Monetary Policy - Quantitative and Qualitative
* Importance of the Balance Sheet of the RBI – a microcosm
* Role of the RBI in exchange rates, built of foreign exchange reserves
* RBI and banking policy – regulator and supervisor, bank nationalization, priority sector lending
* RBI and financial markets – government securities market
* Contemporary Issues – Independence, Transparency, Accountability and Credibility, financial inclusion
For the Advanced countries, monetary policy in the US and Euro area will be covered. The program will provide comparison and contrasts between the monetary policy of advanced and countries and India.
The participants will understand the mystic web of the central banks’ monetary policy function.
The tools like the open market operations, repo and reverse repo, cash reserve ratios and statutory liquidity ratios would be discussed.
The understanding of the balance sheet of the central bank will be enhanced and through it, the working of the economy.
The understanding of the reasons of how and why monetary policy of advanced countries impact India would also be enhanced.
The program would be useful for any person who would like to understand as to what is monetary policy and why is it important for the economy. It would be useful for journalists, news-paper reporters, economists, commercial bankers, and market analysts. The program does not require any pre-requisite qualifications of economics or commerce.
Dr. Charan Singh is a RBI Chair Professor at the Indian Institute of Management, Bangalore, India. Earlier, he was a Senior Economist at the International Monetary Fund, Washington DC from August 2009 to November 2012. He has worked extensively for more than two decades in Reserve Bank of India. His extensive career in the Reserve Bank, where he worked from 1984 to 2009, included many assignments in operational and research departments. He was the Director of Research from 1997 to 2009 during which he worked for cash, debt and liquidity management; fiscal policy; banking policy; and financial markets. Dr. Singh earned his doctorate in Economics from the University of New South Wales, Sydney, Australia and was a visiting scholar (post-doctorate) for more than a year each at Harvard University and the Stanford University. His current policy interests include international economics, monetary policy, fiscal policy and debt management. He has regularly been teaching experienced bankers, managers, and government officials from India and abroad.
Programme Charges*
Residential: Rs. 47,000/-(subject to availability of rooms on campus)
Non-residential: Rs. 42,000/-
Early bird cut-off date: 31-Aug-2015
Residential: Rs. 44,650/-
Non-residential: Rs. 39,900/-
Please Note * Please add service tax at prevailing rates to the programme fee. Group discount (10%) may be availed for a group of 5 or more participants from an organization for a programme, on upfront payment before the start of the programme.
All enrolments are subject to review and approval by the programme director. Joining Instructions will be shared with the organization if sponsored or to the participants on selection. Kindly do not make your travel plans unless you receive the letter from IIMB.
A certificate of participation will be awarded to the participants by IIMB.
Registration
Please logon to IIMB website www.iimb.ac.in/eep for registering online. Do feel free to get back to us if you should have any clarification.
Executive Education Programmes
Indian Institute of Management Bangalore
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Phone: +91 - 80 - 2699 3264 / 3475
Fax: +91 - 80 - 2658 4004 / 4050
E-mail: openpro@iimb.ernet.in