RBI launches household inflation expectation survey

Inflation expectations will be assessed from responses of around 4,000 households in 12 cities based on households' consumption baskets

The Reserve Bank of India has launched the 'Inflation Expectation Survey of Households' (IESH), which will seek responses from households on price changes.

The reference period for the 25th round of Survey would be July-September, 2011, RBI said in a statement.

"The Survey seeks qualitative responses from households on price changes in the next three months as well as in the next one year and quantitative responses on current, three- month ahead and one-year ahead inflation rates," the statement added.

Inflation expectations will be assessed from responses of around 4,000 households in 12 cities based on households' consumption baskets.

RBI said Mumbai-based Beaumont Consultancy Services has been engaged to conduct this round of survey on its behalf.

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Production resumes at Maruti Suzuki’s Manesar plant

The company has brought in 120 ITI-trained workers to the Manesar plant on a contract basis to strengthen the manpower for assembly operations. In addition, 50 engineers from the Gurgaon plant and 290 supervisors are working at the Manesar plant in an effort to normalise operations

New Delhi: Maruti Suzuki India (MSI) today said it has begun to roll out cars from its Manesar plant as it looks to normalise operations, even as tension between the management and workers continued for the third day, reports PTI.

"MSI began assembly operations at Manesar this morning.

The factory was able to roll out its first Swift since production was halted on Monday," a company spokesperson said.

In the last two days, the company had done the ground work for resumption of work in the press, weld and paint shops by bringing in additional workers. These sections of the plant are highly automated, he added.

"The company brought in 120 ITI-trained workers this morning to the Manesar plant on a contract basis to strengthen the manpower for assembly operations," the spokesperson said.

In addition, 50 engineers from the Gurgaon plant and 290 supervisors are working at the Manesar plant. The engineers are strengthening quality systems and preparing for a ramp-up, he said.

Production at the Manesar plant had been at a complete halt since Monday after the company decided to force workers to sign a 'good conduct bond' before entering the factory premises following alleged 'sabotage', resulting in quality issues that arose last week.

So far, 40-odd permanent workers have signed the bond, the spokesperson said.

Yesterday, MSI suspended 16 more permanent workers, taking the total to 26, while the services of another 12 trainees were discontinued, in addition to six earlier, at the plant.

With vehicle production being completely affected for the second day, MSI has suffered an estimated production loss of about 2,400 units, valued at around Rs120 crore till yesterday.

The workers, however, had said the management was taking these steps in 'revenge' for their 13-day strike in June demanding the recognition of a new union-the Maruti Suzuki Employees Union (MSEU)-at the plant located in Haryana.

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Beware! There’s another scam mail in circulation that uses the name of the RBI to get your bank details

Scamsters are once again using the RBI’s name in a fake e-mail, asking people for numerous personal details to register for a one-time password

Don't hesitate to delete an e-mail that ostensibly asks for your bank details to register your account with a one-time password (OTP). That's because it's very likely that it is a spam message from scamsters who are using the name of the Reserve Bank of India (RBI) to appear legitimate. In reality, the apex bank never asks for these details for the purpose of verification, by e-mail.

Many Internet users have mentioned they are receiving this e-mail message with the subject line, "Reserve Bank of India: OTP Registration For All Indian Bank Users", asking people to give their bank details for verification.  

The message explains that this is part of a regular process to screen the activities of various accounts. It also states that certain restrictions have been put on your account after it was found to have issues for safe use. The messages states that in order to lift these restrictions, "we will require some further information from you to enable us register your account for OTP (one-time password)."

Receivers of the message are asked to furnish information such as credit/debit card number, transaction password, ATM PIN number, expiry date and other personal details like e-mail address and mobile phone number.

Experts point out that the neither the RBI nor any individual bank asks for the PIN number for account verification. It is only when the accountholder voluntarily opts for mobile or internet banking that one requires to enter a password or PIN number for the purpose of transaction.

According to the OTP activation procedure described in the message, once the necessary details are confirmed and verification is successful, a manual containing a PIN (number) and the process to activate it is sent by e-mail in a couple of weeks.

This is again strange, as all banks send the PIN number and necessary account details either by post or they ask the customer to collect it from the bank's branch personally.

Moneylife has reported earlier about a fake e-mail circulated, similarly using the RBI's name to offer unclaimed lottery funds. (Read, 'RBI offering unclaimed funds through lottery? Beware, scamsters are on the prowl again'.)

Clearly, this time too this is another fraud in progress again. So, if you receive such a message, delete it immediately.

To read some key points that will help you identify fake/fraud messages log on to websites like www.truthorfiction.com, www.fraudwatchers.org or www.scambaits.com that give special attention to this matter, to help potential victims and catch the scamsters.

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COMMENTS

akshayshah

5 years ago

thank you money life digital team
really nice of you

akshayshah

5 years ago

i have received an email.
it was showing me that it is from rbi
and you have won some cash amount

RNandakumar

5 years ago

Moneylife team could additionally serve the public in increasing the awarness against such cyber crimes by publishing the cybercrime investigating agency's phone number or e-mail address. This would help the public to forward such mails to the notified authorities.

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