RBI report suggets issuing debt to mop up hot money

Seetimarr will be an emotional ride, says Sampath Nandi

The Reserve Bank of India may consider issuing its own bonds to help soak up a deluge of foreign money into stocks that threatens financial stability, according to a report published by its researchers.

Current laws forbid the RBI from selling its own paper, and budgetary constraints could prevent the government from issuing so-called market stabilisation scheme, or MSS, bonds that authorities have used in the past. That's made it harder for the central bank to navigate what's known as the Impossible Trinity, i.e. maintaining an independent monetary policy while also allowing free flows of capital and ensuring a stable currency.

"Sterilised intervention is an effective solution to managing the trilemma in India," the central bank said in its annual Report on Currency and Finance, published on

Friday.

"Enhancement of sterilisation capacity may be necessary to deal with possible surges in capital flows in the future," the report pointed out.

The RBI report recommended further strengthening foreign-exchange reserves, citing the swings in the rupee around the time of the global taper tantrum in 2013. India's stockpile is already close to $600 billion and exceeds most standard metric requirements.

Long jumper A. Nandini broke a 20-year-old record on Friday, a day Telangana athletes did very well at the 32nd South Zone National Junior Athletics Championship being held at Calicut in Kerala.

Nandini leapt to 6.20 metres to set a new Junior India record on way to getting gold in the Girls U-18 category. She broke the record of Ruta Patkar from Maharashtra, who had cleared 6.10m in 2001.

Three other Telangana athletes won gold medals.

In the Girls U-18, J. Deepthi set the meet record by winning the 100 metres in 12.09 seconds.

Kothuri Pranay cleared

1.91 metres for the Boys U16 high jump honours, leaving behind Shashank Acharya (Karnataka,

1.80m) and Mohammed Muhassin (Kerala, 1.80m) in second and third spots.

N. Srinivas got gold in the Boys U-20 100m by clocking

10.85 secs, his best so far. In the Boys U-16 100m, A. Ganesh secured silver in

11.34 secs while N. Sarath Chandra got the bronze in Boys U-18 100m with a timing of 11.26 secs.

While a lot has been written about the plot of Seetimarr, especially that the film is based on Kabaddi, the film’s director Sampath Nandi says there’s more to the story than the game.

“Seetimarr is all about how women kabaddi players from small towns make it big and put their village on the national map,” shares Sampath about the April 2 release, adding that kabaddi is a means through which the girls make it big.

“As much as we focused on the game, we also made sure that the story has enough meat to make it gripping. In fact, this film will be high on emotions, like my earlier films,” says the director about the Srinivasaa Chhitturi production.

Gopichand and Tamannaah will be seen as Kabaddi coaches in the film.

“I had to do research to understand the ropes of the game, points system, etc. In fact, we have cast National kabaddi players in the film for a realistic feel. The cast was also trained by national players, and in the process of filming, I myself picked up the rules of the game,” explains Sampath, who is thrilled with the response the recently released teaser got.

The director is confident that the strong conflict point will strike a chord with the audience, and the film will be a box-office success.’