Lecture Notes on Interview with Srishti Dabas

Personal Background

• Name: Srishti Dabas
• Origin: Born and raised in Delhi
• Education: Schooling and graduation from Delhi
• Work Experience:
  • Ministry of Social Justice and Empowerment
  • Currently at the Reserve Bank of India (RBI) in Mumbai as a Manager
• Interest: Performing Kathak

Role of RBI in Non-Performing Assets (NPAs)

• Proactive Role:
  • RBI monitors banks through the Department of Supervision
  • Asset Quality Review (AQR) to assess NPAs
• Reactive Role:
  • Actions taken after NPAs have increased significantly
  • Example: Prompt Corrective Action (PCA)
• Allegations Against RBI:
  • RBI accused of inaction regarding NPAs, especially with cooperative banks
  • Notable cases: Yes Bank, PMC Bank, etc.

Monetary Policy and Repo Rate

• Repo Rate:
  • Main policy rate determined by the Monetary Policy Committee
  • Influences bank deposit and lending rates
• Current Status:
  • Constant at 6.5% over last six MPC meetings
  • Potential for reduction in next quarter

Green Bonds

• Definition:
  • Financial instruments for funding green projects
• RBI's Involvement:
  • Issued Sovereign Green Bonds worth ₹16,000 crores

Strategic Issues in Political Science

• String of Pearls:
  • China's strategy of building ports in the Indian Ocean (Bangladesh, Myanmar, Oman)
  • Term coined by the USA
• India's Response:
  • Concept of "Diamond Necklace" to enhance maritime presence
  • Collaborations with countries like Bangladesh, Myanmar, Oman, Japan, Iran (Chabahar Port)

Encounter Killings in UP

• Personal View:
  • Encounters against the rule of law
  • Justifiable only in self-defense
  • Belief in ethical methods to achieve justice

De-dollarization Efforts

• Goals:
  • Internationalization of the Indian Rupee
  • Using UPI for cross-border transactions
  • Vostro-Nostro accounts and currency swap agreements

Foreign Exchange Reserves

• Components:
  • Foreign currency assets, SDRs, gold reserves
• Sources:
  • Exports and foreign institutional investments

Trade Agreements and Relations

• Trade Deficit:
  • Significant with China
  • Trade surplus with the USA
• Free Trade Agreements:
  • Recent agreement with EFTA
  • Ongoing negotiations with the EU, UK, Australia, and UAE

NATO Expansion

• New Members:
  • Sweden and Finland
• Impact on Global Politics:
  • Perception of NATO expansionism affecting Indian diplomacy

Economic Policies: Capital Subsidy vs PLI

• Preference:
  • PLI (Production-Linked Incentive) favored for boosting production and employment
  • Capital Subsidies can lead to fiscal deficit

Bad Bank Initiative

• National Asset Reconstruction Company Limited (NARCL):
  • Established to address NPAs and bad loans
• Stressed Assets Transfer:
  • Estimated around ₹1 lakh crores by March

Legal Framework for Banking

• Key Acts:
  • Reserve Bank of India Act
  • Banking Regulations Act
  • Additional act to be recalled

Trade Routes and Crises

• Impact of Red Sea Crisis:
  • Proposal for an alternative trade route through Iraq
• IMEC:
  • India-Middle East-European Trade Corridor
  • Proposed to enhance connectivity against BRI of China

Cultural Awareness

• Classical Dance Forms:
  • 8 recognized by Sangeet Natak Academy, 9 according to Ministry of Culture
• Women-Centric Schemes:
  • Beti Bachao Beti Padhao, Sukanya Samriddhi Yojana, PM Awas Yojana

Conclusion and Personal Reflections

• Career Motivation:
  • Financial independence as a primary goal
  • Aspirations to contribute significantly to social development
• Future Goals:
  • Aim to work on social issues and reforms, especially in policing and community relations.