Citizens' Issues
Picture postcards of Bombay



Mr Jayakar is yet to come across another copy of this beautifully printed postcard (right) of Bombay that was printed in Italy and brought out by D Macropolo, a cigarette manufacturer in Calcutta. Mr Jayakar believes that it was printed around 1899 and was used in 1909. The colourful postcard depicts an elephant with a mahout in all its regalia, a view of the monkey temple in Kalbadevi (titled ‘Hindoo’ temple on the postcard) and a statue from the Ellora Caves. Mr Jayakar believes that it belongs to a set of at least six postcards, three of which he has. The series is titled ‘Greetings from Bombay’. He acquired these at an exhibition in London in 2010. The other three are yet to surface. Mr Jayakar has a large and an almost complete collection of picture postcards of Bombay.

User

Oldest telephone in Bombay



The wood-and-metal phone, as the label on it says, was manufactured by Bombay Telephone Company Ltd in 1889. Surprisingly, the first telephone in the city arrived in 1905. The phone doesn’t have a dial, as the earlier phones used operator assistance. After asking for the number, the caller had to wait for a particular beep which signalled that the line was connected. It has a separate mouthpiece and earpiece, and if the latter is dropped, the line is automatically disconnected. Mr Jayakar got it from chor bazaar, and the details of its ownership are not known. The phone is still functional; but, since it does not have a dial, it can be used only as a parallel line. While the phone is extremely rare, the telephone directory that he got from a Parsi gentleman, Mr Jayakar claims, is one of a kind in the world. It is a common directory for Bombay, Karachi and Ahmedabad and came out in July 1942. At that time, one could get a new directory only in exchange of an old one so, probably, all the other editions had been exchanged for new ones.

User

Highlights of RBI’s monetary policy

The RBI raised its key interest rates by higher-than-expected 50 bps in a bid to control inflation

The following are the highlights of the Reserve Bank of India's (RBI) Monetary Policy statement for 2011-12:

* Short term lending rate (repo) hiked by 50 basis points (bps) to 7.25%

* Repo rate to be only effective policy rate to better signal monetary policy stance from now on

* Reverse repo to be fixed 100 bps lower than the repo rate

* Short-term borrowing rate (reverse repo) up by 50 bps to 6.25%

* Cash reserve ratio (CRR) and bank rate left unchanged at 6% each

* Interest rates on savings bank deposits hiked to 4% from 3.5%

* Economic growth projected lower at 8% for FY11-12

* WPI inflation projection lowered to 6%

* Objective is to contain inflation by curbing demand-side pressures

* Favours aligning of fuel prices with international crude prices to avert widening of fiscal deficit

* Banks to get a new overnight borrowing window under Marginal Standing Facility at 8.25%

* Likelihood of oil prices moderating significantly is low

* Malegam Committee recommendations on MFI sector broadly accepted

* Bank loan to MFIs on or after 1 April 2011, will be treated as priority sector loans

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)