Role of Media on Society Essay

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JANUARY 2012 EDITORIAL COMMITTEE Janak Raj A. B. Chakrabarty Brajamohan Misra Gautam Chatterjee S. V S. Dixit . EDITOR Mohua Roy The Reserve Bank of India Bulletin is issued monthly by the Department of Economic and Policy Research, Reserve Bank of India, under the direction of the Editorial Committee. The Central Board of the Bank is not responsible for interpretation and opinions expressed. In the case of signed articles, the responsibility is that of the author. © Reserve Bank of India 2012 All rights reserved. Reproduction is permitted provided an acknowledgment of the source is made. For subscription to Bulletin, please refer Section ‘Important Recent Publications of the Reserve Bank of India’. The Reserve Bank of India Bulletin can also be accessed through Internet at Contents Contents Twelfth L. K. Jha Memorial Lecture Welcome Remarks by Duvvuri Subbarao 1 Gross Financial Flows, Global Imbalances, and Crises by Maurice Obstfeld 5 Speeches Challenges to the Accounting Profession: Some Reflections by Duvvuri Subbarao 15 Microenterprise Development: Path to Creating MNCs of Tomorrow by K. C. Chakrabarty 21 Ten Commandments for a Successful Banking Career by K. C. Chakrabarty 27 Empowering MSMEs for Financial Inclusion and Growth – Issues and Strategies by K. C. Chakrabarty 33 An Assessment of Recent Macroeconomic Developments by Subir Gokarn 41 Food Inflation: This Time it’s Different by Subir Gokarn 47 Legislative Reforms – Strengthening Banking Sector by Anand Sinha 59 Financial Reporting in the context of Financial Stability: A Regulator’s View on Some Accounting Issues by Anand Sinha 67 Short-Term Co-operative Credit Structure and Financial Inclusion by V. K. Sharma 73 Economic and Financial Developments in Andaman and Nicobar Islands by Deepak Mohanty 77 Contents Contents Articles International

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