<ul class="summary-list"><li><keyword id="12361709" type="UNKNOWN" weightage="60" keywordseo="liquid-assets" source="Orion">Liquid assets</keyword> are <keyword id="11899862" type="UNKNOWN" weightage="60" keywordseo="assets" source="Orion">assets</keyword> that are easily and simply converted to cash.</li><li>Examples of liquid assets include cash, bonds, and CDs.</li><li>Assets that lack liquidity require time or effort to trade or sell, like real estate or collectibles.</li></ul>You've probably heard the term "<a href="https://www.businessinsider.com/what-is-liquidity" target="_blank" rel="noopener">liquidity</a>" thrown around when it comes to your portfolio and assets. It refers to how quickly an asset can be converted into cash. As such, liquid assets are those that can easily be sold or traded. Liquidity is really a gauge of how much access an individual or business has to cash. The easier an asset - be it an investment, a collectible, or even a precious metal stored in a safe somewhere - can be "liquefied" for its cash value, the higher its liquidity. "A liquid asset is something you can pay rent with next month," says Jedidiah Collins, a certified financial planner and financial educator who runs <a href="https://www.yourmoneyvehicle.com/" target="_blank" rel="noopener">Money Vehicle</a>, a financial literacy program. "It's something I can change into cash fast, to put it more simply."Each type of asset has a differing level of liquidity. But liquid assets tend to include things like money in bank accounts, <a href="https://www.businessinsider.com/certificate-of-deposit" target="_blank" rel="noopener">certificates of deposit (CDs)</a>, and even certain types of bonds such as <a href="https://www.businessinsider.com/how-to-buy-treasury-bonds" target="_blank" rel="noopener">US Treasuries</a>. <h2>How liquid assets work </h2>For an asset to be considered truly liquid, there are several boxes to tick:<ul><li>A liquid asset must exist or be traded in an existing, established market. That means that there are buyers and sellers and the asset is always (or nearly always) in demand at some price. When there's always a buyer, the asset is easy to sell or trade, making it more liquid.</li><li>A liquid asset can be converted to cash quickly. The more difficult or time consuming it is to sell an asset, the less liquid the asset is - otherwise known as illiquid. Collins says an illiquid asset is something that requires at least some leg work to exchange for cash: "An illiquid asset would be anything I need to find a buyer for. Something that there's not a buyer readily available for."</li><li>The process of selling or trading the asset also needs to be both secure and simple for it to be truly liquid. Think about the cash you may have in a bank account, for example. The cash in it is considered a liquid asset because the process of getting it out is as easy as a trip to the ATM. And because banks are liable for the the safely securing your funds, they're also protected. The same goes for other assets like <a href="https://www.businessinsider.com/what-is-stock" target="_blank" rel="noopener">stocks</a> or <a href="https://www.businessinsider.com/what-is-an-etf" target="_blank" rel="noopener">exchange-traded funds</a>: Stocks can be easily traded or sold for cash since there's always an interested buyer. </li></ul>Finally, the vast majority of liquid assets also are the type most commonly owned by investors. That is, they're things like stocks, or other easily-sold securities such as US Treasury bonds. Cash, of course, also fits the bill, as it can be used by anyone at any time. <h2>Analyzing liquidity</h2>When considering liquidity for businesses and organizations, analysts can use solvency and liquidity ratios to determine their ability to meet short- and long-term financial obligations. This can help them make investment or spending decisions.There are numerous ratios that are used. Two of the most common are <a href="https://www.journalofaccountancy.com/issues/2013/may/20126764.html" target="_blank" rel="noopener">the quick ratio and the current ratio</a>:<ul><li>The quick ratio takes into account a company's most liquid assets, and calculates whether it can meet its short-term (within one year) costs. </li><li>The current ratio also helps determine if a company can handle its short-term costs, but incorporates more variables into the calculation. It's another method for calculating whether the company's current assets exceed its liabilities. </li></ul> There's a lot more to know about these ratios alone. But remember, they're usually used for businesses and not necessarily calculating personal liquidity.<h2>Liquid assets examples </h2>Assets come in a variety of types, and are spread across a spectrum of liquidity. Even among certain asset types, liquidity can vary - some real estate assets may be more liquid than others, for example. <div type="image" title="Finalassesttable 02" height="3468" width="5000" msid="87195160" hostid="261"></div>Here are some of the types of liquid assets:<ul><li>Cash, and cash equivalents: It doesn't get much more liquid than cash. It can be used to purchase just about anything, and doesn't require a transaction to "liquify." Cash equivalents, such as CDs, are in the same bucket, although there may be a fee to pay when liquify ing this type of asset.</li><li>US Treasury bills and bonds: Treasuries are bonds issued by the US government. They are among the most liquid types of bonds, as there are <a href="https://www.finra.org/investors/learn-to-invest/types-investments/bonds/types-of-bonds/us-treasury-securities" target="_blank" rel="noopener">always buyers in the market</a>. </li><li>Stocks: As we mentioned before, stocks are liquid in that they can easily and almost always be purchased or sold for cash at a moment's notice. It may take some time for cash to hit your account, of course, and you may take a loss on the sale. But the speed and ease with which stocks can be liquidated is what earns them a spot on the list.</li><li><a href="https://www.businessinsider.com/what-is-a-bond" target="_blank" rel="noopener">Bonds</a>: Much like stocks and other securities, bonds can be sold at any time for cash so long as the <a href="https://www.businessinsider.com/stock-market-hours" target="_blank" rel="noopener">markets are open</a>.</li><li><a href="https://www.businessinsider.com/mutual-funds" target="_blank" rel="noopener">Mutual funds</a>: While not quite as liquid as other securities as they only trade at the market close, <a href="https://www.businessinsider.com/mutual-funds" target="_blank" rel="noopener">mutual funds</a> can be liquidated for cash rather fast and easily. </li><li><a href="https://www.businessinsider.com/what-is-an-etf" target="_blank" rel="noopener">ETFs</a>: Perhaps best described as baskets of investments - like a bundle of stocks - ETFs trade on exchanges like other securities. Since they trade easily, they are likewise fairly liquid. </li><li>Foreign currency: Foreign currencies are cash, and as such, are highly liquid. You would need to <a href="https://www.businessinsider.com/what-is-forex" target="_blank" rel="noopener">exchange a foreign currency</a> for US dollars, which may require an extra step, but in terms of liquidity, foreign currencies are among the most liquid assets you can own.</li><li>Precious metals: <a href="https://www.businessinsider.com/how-to-buy-gold" target="_blank" rel="noopener">Gold</a>, <a href="https://www.businessinsider.com/is-silver-a-good-investment" target="_blank" rel="noopener">silver</a>, platinum - precious metals are fairly liquid, as they're easy to sell for cash. It might require a trip to a local coin shop to access the "market," but in terms of liquidity, precious metals tend to tick the boxes. </li></ul>Quick tip: It may be best to think of liquidity as a spectrum - different assets will have varying levels of liquidity. And within each asset class, certain assets may be more liquid than others. For instance: Certain types of bonds (Treasuries) may be more liquid than other types. <h2>Example of illiquid assets </h2>Conversely, illiquid assets are those that cannot be easily converted to cash. They may take a while to sell, or lack a bustling market full of potential buyers. The point is, it'll be tough to turn these types of assets into fast cash: <ul><li>Real estate: Real estate may hold a lot of value, but it is neither fast nor easy to sell. On average, it takes <a href="https://www.zillow.com/sellers-guide/average-time-to-sell-a-house/" target="_blank" rel="noopener">around two months</a> to sell a house in the US, making real estate an illiquid asset.</li><li>Collectibles: <a href="https://www.businessinsider.com/collectible-investments-valuable-types" target="_blank" rel="noopener">Collectibles</a> can be almost anything, from baseball cards to paintings. While these assets may hold value, it can be difficult to find buyers, depending on the specific market, and their values may be hard to assess. For that reason, collectibles are considered illiquid.</li><li>Stock options: Like other items on this list, <a href="https://www.businessinsider.com/stock-options" target="_blank" rel="noopener">stock options</a> may be valuable, but aren't easy to transfer or squeeze cash out of. </li><li>Private equity: Do you own a share of a business or organization? This is also called "equity," and while it may be of some value, that value isn't easy to tap into. </li><li>Intangible assets: It's hard to define intangible assets since they're, well, intangible. But they may include things like intellectual property. These would be illiquid, given their specific nature, and a lack of an immediate marketplace where they can be exchanged for cash.</li></ul><h2>The financial takeaway</h2>Liquid assets give their owners quick and easy access to cash. They can quickly be sold, granting access to their cash value, in contrast to illiquid assets, which may take more time and effort to sell or trade. Generally, you should keep a portion of your overall assets as liquid assets, in case you need to get your hands on some cash.A good goal? Think about how long you'd be able to maintain your lifestyle, and tackle all of your financial obligations, if you sold your liquid assets - and aim for three years' worth of available cash. "It's not a percentage of your portfolio that matters," says Collins. "It's about the protection of your lifestyle."<a data-type="5f52714cce3d6947b55a3bf1">REITs are a way to own real estate without becoming a landlord - here's how they work and ways to invest</a><a data-type="613a241ebd69125fd4743686">Start investing in mutual funds in 4 steps</a><a data-type="613a2035b0b35f5c695cf174">5-step beginner's guide to investing in index funds</a><a data-type="61143d4737043a45f7070cd8">Digital assets are becoming the new normal - here's how to buy cryptocurrency</a>

Liquid assets are an important part of a portfolio because they can be quickly converted into cash

Monetary Policy Committee (MPC) has been instituted by the Central Government of India under Section 45ZB of the RBI Act that was amended in 1934. MPC had its first meeting for two days on October 3 and October 4, 2016. The MPC is entrusted with the responsibility of deciding the different policy rates including MSF, Repo Rate, Reverse Repo Rate, and Liquidity Adjustment Facility. Monetary Policy Committee (MPC) has six members and the main objective of this body is to maintain the price stability and boosting up the growth rate of the country’s economy. What is <keyword id="679958" type="ORGANIZATION" weightage="20" keywordseo="RBI-monetary-policy">RBI Monetary Policy</keyword> ? The term ‘Monetary Policy’ is the Reserve Bank of India’s policy pertaining to the deployment of monetary resources under its control for the purpose of achieving GDP growth and lowering the inflation rate. The Reserve Bank of India Act 1934 empowers the RBI to make the monetary policy. We can say that the monetary policy stands for the control measures adopted by the Central Bank of a nation. What the Monetary Policy intends to achieve? As per the suggestions made by Chakravarty Committee, aspects such as price stability, economic growth, equity, social justice, and encouraging the growth of new financial enterprises are some crucial roles connected to the monetary policy of India. While the Government of India tries to accelerate the GDP growth rate of India, the RBI keeps trying to bring down the rate of inflation within a sustainable limit. In order to achieve its main objectives, the Monetary Policy Committee determines the ideal policy interest rate that will help achieve the inflation target in front of the country. Monetary Policy Department (MPD) is an important organ of the Reserve Bank of India that assists the Monetary Policy Committee (MPC) in creating the monetary policy. Monetary Policy Committee Structure Monetary Policy Committee has 6 members as follows: <table style="border-width: initial; border-style: none;"> <tbody><tr> <td style="width: 40.25pt; border-width: 1pt; border-style: solid; border-color: windowtext; padding: 0cm 5.4pt;"> SI. No. </td> <td style="width: 94.5pt; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left-width: initial; border-left-style: none; padding: 0cm 5.4pt;"> Designation </td> <td style="width: 175.5pt; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left-width: initial; border-left-style: none; padding: 0cm 5.4pt;"> The office held </td> <td style="width: 157.25pt; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left-width: initial; border-left-style: none; padding: 0cm 5.4pt;"> Who holds the office as on October 2019 </td> </tr> <tr> <td style="width: 40.25pt; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-top-width: initial; border-top-style: none; padding: 0cm 5.4pt;"> </td> <td style="width: 94.5pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> Chair Person </td> <td style="width: 175.5pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> Governor of the Reserve Bank of India </td> <td style="width: 157.25pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> Shri Shaktikanta Das </td> </tr> <tr> <td style="width: 40.25pt; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-top-width: initial; border-top-style: none; padding: 0cm 5.4pt;"> </td> <td style="width: 94.5pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> Member, ex officio </td> <td style="width: 175.5pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> Deputy Governor of the Reserve Bank of India, in charge of Monetary Policy </td> <td style="width: 157.25pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> BP Kanungo </td> </tr> <tr> <td style="width: 40.25pt; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-top-width: initial; border-top-style: none; padding: 0cm 5.4pt;"> </td> <td style="width: 94.5pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> Member, ex officio </td> <td style="width: 175.5pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> An officer of the Reserve Bank of India nominated by the Central Board </td> <td style="width: 157.25pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> Dr. Michael Debabrata Patra </td> </tr> <tr> <td style="width: 40.25pt; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-top-width: initial; border-top-style: none; padding: 0cm 5.4pt;"> </td> <td style="width: 94.5pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> Member </td> <td style="width: 175.5pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> Professor, Indian Institute of Management, Ahmedabad </td> <td style="width: 157.25pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> Dr. Ravindra H. Dholakia </td> </tr> <tr> <td style="width: 40.25pt; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-top-width: initial; border-top-style: none; padding: 0cm 5.4pt;"> </td> <td style="width: 94.5pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> Member </td> <td style="width: 175.5pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> Director, Delhi School of Economics </td> <td style="width: 157.25pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> Professor Pami Dua </td> </tr> <tr> <td style="width: 40.25pt; border-right: 1pt solid windowtext; border-bottom: 1pt solid windowtext; border-left: 1pt solid windowtext; border-top-width: initial; border-top-style: none; padding: 0cm 5.4pt;"> </td> <td style="width: 94.5pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> Member </td> <td style="width: 175.5pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> Professor, Indian Statistical Institute (ISI) </td> <td style="width: 157.25pt; border-top-width: initial; border-style: none solid solid none; border-left-width: initial; border-bottom-width: 1pt; border-bottom-color: windowtext; border-right-width: 1pt; border-right-color: windowtext; padding: 0cm 5.4pt;"> Shri Chetan Ghate </td> </tr> </tbody></table> The ex- Officio members of the committee hold the office for a term of four years or until the next order, whichever happens earlier. Monetary Policy Instruments and how they are managed Monetary policy instruments are of two types namely qualitative instruments and quantitative instruments. The list of quantitative instruments include Open Market Operations, Bank Rate, Repo Rate, Reverse Repo Rate, Cash Reserve Ratio, Statutory Liquidity Ratio, Marginal standing facility and Liquidity Adjustment Facility (LAF). Qualitative Instruments refer to direct action, change in the margin money and moral suasion. The instruments listed above are managed and regulated as per the needs of the country’s economy. These instruments are effectively used in order to ensure the money supply in the economy so that the inflation rate is stabilized to realize economic growth.

Monetary Policy Committee (MPC) Of India: Its Purpose, Structure and Responsibilities

<ul class="summary-list"><li>Coming in many varieties, <keyword id="93269" type="COMPANY" weightage="60" keywordseo="Bread">bread</keyword> is one of the most widely eaten foods in the world. </li><li>We take a look at 29 types of bread in places <keyword id="46661" type="ENTERTAINMENT" weightage="60" keywordseo="Around-the-world">around the world</keyword>.</li></ul>Following is a transcript of the <keyword id="21654" type="COMPANY" weightage="60" keywordseo="video">video</keyword>.Narrator: Though different types of bread require different ingredients and ratios, flour or meal and water are always the main ingredients. With over 20 types of bread on our list, from flatbread to cornbread, let's take a look at bread from places all around the world.For those with a gluten intolerance, injera is a great option because, traditionally, it uses teff flour. The spongy flatbread is multipurpose, used as a utensil, a plate, and a nutritious accompaniment to your <keyword id="6181" type="COMPANY" weightage="100" keywordseo="Food">food</keyword>. Paired with doro wat, injera is the national dish of Ethiopia.Though the ingredients for a baguette are simple, what truly makes a baguette special are the hands that prepare it and the time it takes. Once the dough is rolled and scored with a sharp blade or knife, it's baked. The important part of a baguette is the crunchy exterior, but fluffy interior.Though pan Cubano shares many similarities to French bread or Italian bread, a key difference, and what makes pan Cubano pan Cubano, is lard. Lard gives pan Cubano its smoothness, taking the Cubano sandwich to the next level.Each region of Georgia has different shapes of khachapuri and uses different types of cheese. The one featured here is called adjaruli khachapuri. It's a boat-shaped bread with melted cheese, traditionally feta, in the center, and topped with a raw egg.Widely popular in many Middle Eastern countries, lavash is a thin flatbread baked in a clay oven, or tonir. In 2014, it was added to the UNESCO list of Intangible Cultural Heritage as an expression of Armenian culture.Cream-cheese-filled garlic bread is a popular street food in South Korea. Soft buns are cut open and filled with cream cheese, then dipped into a melted butter-garlic mixture that includes basil, parsley, and Parmesan cheese.There are many popular bagel origin stories. However, according to Maria Balinska, author of "The Bagel: The Surprising History of a Modest Bread," bagels were brought to Poland from Germany and were originally called obwarzanek. They were popularized by Queen Jadwiga of Poland and later brought to countries like the US, where they were praised as one of the best ways to enjoy breakfast.Simit has many similarities to a bagel. However, instead of being boiled in water, simit is dipped in sweetened water and coated in sesame seeds before it's baked. The result is an encrusted circular bread snack, quintessential of Turkish culture and cuisine.Not to be confused with English muffins, crumpets are softer, closer to the texture of a pancake rather than bread. This is because the flour-to-liquid ratio is skewed more towards liquid, creating a looser batter. Once placed on a griddle, the batter forms a smooth, crunchy bottom and a spongy top. Perfect for butter.Pandebono is Colombian cheese bread. Because it's made with tapioca or yucca flour and cornmeal, it's gluten-free. Mixed with milk, queso fresco, and eggs, pandebono can be ball- or doughnut-shaped, and it's best served warm.Pão de queijo is delicious cheese bread that will melt in your mouth. Ingredients include tapioca flour, milk, eggs, and queijo de Minas, sometimes substituted with Parmesan cheese. The Brazilian snack is soft and airy, so you're likely to have more than just one.Parotta is layered flatbread made from maida flour, which is similar to cake flour in the US. One of the most popular types of parotta in South India is coin parotta. The dough is stretched out as thin as possible to create multiple layers, gathered together, and then fried.Essential ingredients in soda bread are flour, buttermilk, baking soda and powder, and salt. Recent twists add sugar and raisins. The dense bread was actually first created by Native Americans and later adopted by the Irish in a time of serious financial hardship throughout the country. Soda bread went on to become a culinary staple in Ireland.Though the recipe for challah is simple, it's the braiding techniques that truly separate it from other types of bread. Challah is important in Jewish traditions. It's typically eaten on Shabbat, or Sabbath, Judaism's day of rest, and other ceremonial occasions and Jewish holidays, excluding Passover.Conchas are one of the most popular traditional sweet breads in Mexican cuisine. The surface of conchas resembles a seashell, making it not only easy to recognize, but extremely popular in the age of social media.Kare pan, or curry bread, is deep-fried dough filled with Japanese curry. The dough does include yeast, so it's meant to rise before deep-frying. Kare pan normally incorporates curried ground beef and onions in the middle. It's the perfect comfort food.Naan is delicious, from the texture to the flavors. A key ingredient to the unique texture is yogurt. Naan is made in a clay oven called a tandoor. The dough adheres to the sides, where it's cooked rapidly at high temperatures.Tiger bread gets its name from its resemblance to a tiger. After the dough is made, a rice flour mixture is used to coat the topping of the bread before it goes into the oven. The reason rice flour is used for the top is because it does not contain gluten. So instead of expanding with the bread, it'll crack apart, creating the unique design the bread is known for.Proja is cornbread. The dense, cake-like bread is very popular in the Balkan region and shares many similarities with American cornbread, popular in Native American and African American homes. Proja can be garnished or filled with feta, goat, or cottage cheese.Standing at a whopping two or sometimes three feet, sangak is a mild sourdough flatbread made with sesame seeds. This national bread got its name from the stones and pebbles the bread is baked on. Those stones also give it its unique shape.Limpa, a Swedish word meaning loaf, has slightly changed with each generation. A popular recipe for Swedish limpa bread incorporates fennel or anise seeds, a sweetener, and orange zest. However, a traditional recipe uses brewer's wort.Croissants may be considered French, but they're actually an adaptation of Austria's kipferl. The first verified evidence of a croissant in France was at the shop of a Viennese baker, August Zang. He brought kipferl to France and made it with flakier dough. People began referring to them as croissants because of their crescent shape. And French bakers went on to imitate and popularize the bread pastry.Malawach is a traditional flatbread with flaky layers on the inside popular in Yemeni Jewish cuisine. It can be served with many different toppings and can be eaten throughout the day, though, traditionally, it's served for breakfast, topped with chopped hard-boiled eggs and tomatoes and a spicy condiment called zhug.Focaccia has to be one of the most beloved breads in Italy. The flatbread's key ingredients are flour, water, yeast, and olive oil. It's enjoyed any time of the day as a savory or sweet snack. The taste and thickness of focaccia varies throughout Italy.Most people add butter to their bread after it's done baking, but butter flap incorporates the butter before the bread goes into the oven. Each layer gets a spread of softened butter. Melted butter is also brushed on top, giving the bread a delicious buttery taste.Coco bread, similar to butter flap, is buttery but also sweet. Coco bread incorporates coconut milk, giving it its own unique flavor. The folded shape, soft texture, and a hint of sweetness is perfect by itself or with beef patties.Bao requires steam instead of heat from an oven. The soft bun comes in many variations and shapes, usually stuffed with meat or vegetables. Lotus leaf buns or bao buns are a twist on traditional bao, which resembles a large dumpling.Korovai is a bread deeply rooted in tradition and holds great symbolic significance in Russian, Ukrainian, Bulgarian, Polish, and Romanian cultures. It's often served at weddings to bless the future union. The higher it rises and the more decorations it has, the better the marriage.Sourdough bread is the oldest form of risen bread, dating back to ancient Egypt. It became popular in San Francisco during the California gold rush. So miners would carry starters around with them so they could make bread wherever they were. Starter is actually what gives sourdough its unique flavor. The older your starter, the more tangy your bread will taste.Bread has been around for centuries and will continue to threaten no-carb diets. But when you enjoy freshly sliced bread, you're also enjoying centuries of traditions and cultures.

29 types of bread around the world

<img class="gwt-Image" src="/photo/39676493.cms" /> The Reserve Bank of India (<keyword id="30067" type="ORGANIZATION" weightage="100" keywordseo="RBI">RBI</keyword>), in its third bi-monthly monetary policy statement for FY2014-15, kept the <keyword id="43352" type="UNKNOWN" weightage="100" keywordseo="Repo-rate">repo rate</keyword> unchanged at 8%. The <keyword id="6403556" type="UNKNOWN" weightage="100" keywordseo="reverse-repo-rate">reverse repo rate</keyword>, too, remained the same at 7%. 
 
The statutory liquidity ratio (<keyword id="46197" type="ORGANIZATION" weightage="100" keywordseo="SLR">SLR</keyword>) was slashed by 50 bps to 22%. "The moderation in CPI headline inflation for two consecutive months, despite the seasonal firming up of prices of fruits and vegetables since March, is due to both base effects and the steady deceleration in CPI inflation excluding food and fuel," RBI Governor Raghuram Rajan said. 
 
"The recent fall in international crude prices, the benign outlook on global non-oil commodity prices and still-subdued corporate pricing power should all support continued disinflation, as should measures undertaken to improve food management. There are, however, upside risks also, in the form of the pass-through of administered price increases, continuing uncertainty over monsoon conditions and their impact on food production, possibly higher oil prices stemming from geo-political concerns and exchange rate movement, and strengthening growth in the face of continuing supply constraints," the RBI said. 
 
The central bank said it would continue to monitor inflation and it remained committed to bring CPI inflation to 8% by January 2015 and 6% by January 2016. 
 
“The Reserve Bank has taken a number of steps to enhance efficiency, increase entry, speed up resolution, and improve access to financial services, such as modified regulations on long term lending and borrowing, proposals for licensing payment banks and small banks, a framework to deal with stressed assets, actions to further the use of mobile phones in banking, and efforts to simplify know your customer (KYC) norms, among others,” the bank said in its press release.

RBI Keeps Repo Rate Unchanged, Slashes SLR By 50 bps

<img class="gwt-Image" src="/photo/48331879.cms" /> Do you think the RBI will go for rate cut tomorrow? The central bank is under extreme pressure to cut interest rates in its third monetary policy review of this fiscal. Well, we have to wait for August 4, but its effect is noticed today on the benchmark <keyword id="35140" type="CITY" weightage="60" keywordseo="BSE">BSE</keyword> <keyword id="6484188" type="CITY" weightage="80" keywordseo="Sensex">Sensex</keyword> that advanced over 72 points to settle the day at over one-week high of 28,187.06. 
 However, experts have voiced different views over the issue, saying high retail <keyword id="22195" type="COMPANY" weightage="100" keywordseo="Inflation">inflation</keyword> may hold it back from doing so, reported PTI. 
 Most bankers and experts are of the view that the possibility of an <keyword id="37018" type="UNKNOWN" weightage="80" keywordseo="interest-rate">interest rate</keyword> cut by the <a href="http://www.businessinsider.in/searchresult.cms?query=Reserve+Bank+of+India+%28RBI%29+">Reserve Bank of India (RBI)</a> is very low as retail inflation remains high. 
 
In the wake of low wholesale <a href="http://www.businessinsider.in/searchresult.cms?query=inflation+">inflation</a> and slowdown in industrial growth, <a href="http://www.businessinsider.in/searchresult.cms?query=India+Inc+">India Inc</a> is pitching for a rate cut. Even the government wants the benchmark rate to be cut to prop up growth. 
 <keyword id="13222" type="CITY" weightage="80" keywordseo="SBI">SBI</keyword> Chairperson <a href="http://www.businessinsider.in/searchresult.cms?query=Arundhati+Bhattacharya+">Arundhati Bhattacharya</a> is not expecting any rate cut. She said: "WPI is (negative), but CPI has gone up a little though it is mainly on account of food prices. RBI has been benchmarking it to CPI numbers, I think it is unlikely." 
 
While retail inflation in June rose to an eight-month high of 5.4%, the overall wholesale price index (WPI) based inflation was (-) 2.4% in the same month. 
 
The central bank mostly tracks the consumer price inflation for its monetary policy decision. 
 
Bank of Baroda Managing Director and CEO Ranjan Dhawan said: "It would be a status quo. I don't think there has been much change in the macroeconomic conditions from the last policy.” 
 
He said that the central bank is closely monitoring monsoon and so far nothing could be said about its nature - good or bad. 
 
Some bankers are of the view that there is scope for further rate cut by RBI, but whether it accommodates that in this policy is in the realm of speculation. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=HDFC+">HDFC</a> Bank Deputy MD Paresh Sukthankar said: "... it is difficult to hazard a guess on what move the RBI would be taking on Tuesday, but interest rates are on a downward trend. I expect RBI to cut rates by 25-50 basis points this fiscal." 
 <keyword id="46977" type="COMPANY" weightage="80" keywordseo="HSBC-India">HSBC India</keyword> Country Head Naina Lal Kidwai said: "We are expecting 0.25% reduction and 0.5% by the end of the year. If reduction has to be done, why not do it early? This will benefit industry and boost growth." 
 
Monsoon has been good so far and the impact on farm production is awaited, she said, adding, "Our challenge is not about just base rate that RBI will do, but the banking system should make interest rate much more attractive for investment". 
 
According to analysts research firm <a href="http://www.businessinsider.in/searchresult.cms?query=Moody%27s">Moody's</a>, the central bank might cut the benchmark rate by 0.25% in the bi-monthly monetary policy review tomorrow as inflation is likely to remain subdued on the back of average rainfall and lower commodity prices. 
 
On June, in its last review, the Reserve Bank of India cut repo rate 0.25% for the third time this year. 
 
During the calender year, RBI has reduced the rate thrice by 0.75%. It was cut by 0.25% each in January, March and June. 
 The central bank cut the policy rate (the short-term lending rate) to 7.25% in June from the earlier 7.5%, but left cash reserve ratio (<keyword id="35038" type="ORGANIZATION" weightage="60" keywordseo="crr">CRR</keyword>) and statutory liquidity ratio (SLR) unchanged at 4% and 21.5%, respectively. 
 
"RBI meets next on August 4 and we expect the benchmark repo rate to be held unchanged at 7.25% after cumulative 75 bps cuts since January 2015," DBS said in a research report. 
 
It said that if the official commentary signals a start to the US rate hiking cycle later this year, "it will affirm our expectations that RBI will maintain a prolonged pause on the rates front". 
 
Industry chamber ASSCOCHAM also pitched for reduction in repo rate by 25 basis points. 
 
Factors like a modest rise in minimum support price (MSP) for various crops together with benign global commodity prices and others are likely to result in moderating consumer price index (CPI) at 5.2-5.4% in the second half, thereby undershooting the apex bank's earlier projection of six% in January 2016, it said. 
 
(Image: Reuters)

RBI Governor Raghuram Rajan under pressure to cut rates: Will he succumb to it?

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/54b7b9f4ecad04c10ece645f-1200-924/citi-12.jpg" border="0" alt="Citi">Justin Sullivan/Getty</img></div></div></div>Citi just reported fourth quarter earnings, and it was a miss. 
The bank reported earnings per share of 6 cents. Analysts had expected 9 cents, according to data compiled by Bloomberg.
For Q4, revenue came in at $17.81 billion. Analysts had expected revenue to come in at $18.61 billion. 
Shares of Citi were last trading down more than 2.4% in the pre-market. 
More to come... 
Here's the release: 
Citigroup Inc. today reported net income for the fourth quarter 2014 of $350 million, or $0.06 per diluted share, on revenues of $17.8 billion. This compared to net income of $2.5 billion, or $0.77 per diluted share, on revenues of $17.8 billion for the fourth quarter 2013. Legal and related expenses and repositioning charges totaled $3.5 billion in the current quarter, compared to $1.0 billion in the prior year period.
CVA/DVA4 was $7 million ($4 million after-tax) in the fourth quarter 2014, compared to negative $164 million (negative $100 million after-tax) in the prior year period. Fourth quarter 2013 results also included a $189 million after-tax benefit related to the divestiture of Citi's Credicard business in Brazil and a $235 million after-tax charge related to the net fraud loss in Mexico.5Excluding CVA/DVA and the items in the fourth quarter 2013, earnings were $0.06 per diluted share, compared to prior year earnings of $0.82 per diluted share.
Michael Corbat, Chief Executive Officer of Citigroup, said, "While the overall results for 2014 fell short of our expectations, we did make significant progress on our top priorities. During the year, we increased our market share among our target institutional clients, grew our core loan book, and improved both our net interest revenue and margin from 2013 levels. For the first time since its establishment, Citi Holdings was profitable for the full year and we accelerated the utilization of our deferred tax assets. We strengthened our capital planning process and made Citi a safer and stronger institution, as evidenced by the increases to our capital, leverage and liquidity ratios. Although we made some difficult decisions over the course of the year, I believe they allowed us to put our franchise in a position to have a successful 2015."
Citigroup full year 2014 net income was $7.3 billion on revenues of $76.9 billion, compared to net income of $13.7 billion on revenues of $76.4 billion for the full year 2013. Full year 2014 results included CVA/DVA of negative $390 million (negative $240 million after-tax), compared to negative $342 million (negative $213 million after-tax) in the prior year period. Citigroup full year 2014 results also included a charge of $3.8 billion ($3.7 billion after-tax) to settle RMBS and CDO-related claims.6 Full year 2013 results also included the benefit related to the impact of the Credicard divestiture and the net fraud loss. In addition, Citigroup recorded a tax charge of $210 million in the first quarter of 2014 related to corporate tax reforms enacted in two states, and a tax benefit of $176 million in the third quarter 2013 related to the resolution of certain tax audit items. Excluding CVA/DVA, Citigroup revenues were $77.3 billion in 2014, up 1% compared to the prior year. Excluding CVA/DVA as well as the impact of the mortgage settlement in 2014, Credicard divestiture and net fraud loss in 2013, and the tax items in both years,7 net income was $11.5 billion in 2014, down 16% compared to 2013, as higher revenues and lower net credit losses were offset by higher operating expenses, a lower net loan loss reserve release and a higher effective tax rate.

Citi Misses On Earnings 

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5492db9decad0459728de3d8-1200-924/rtr4iigc.jpg" border="0" alt="Putin press conference">REUTERS/Maxim ZmeyevRussian President Vladimir Putin reacts during his annual end-of-year news conference in Moscow, December 18, 2014.</img></div></div></div>Moody's just downgraded Russia's government bond rating from Baa2 to Baa3 and placed this rating on review for further downgrade.
Factors included the <a href="http://www.businessinsider.com/oil-below-45-for-the-first-time-in-six-years-2015-1">crassh in oil prices</a> and the decline in the Russian <a href="http://www.businessinsider.com/afp-ruble-tumbles-further-along-with-oil-prices-2015-1">ruble</a>, which have shaken Russia's economy in the last few months.
This rating from Moody's puts Russia's debt just one notch above junk.
Here's the <a href="https://www.moodys.com/research/Moodys-downgrades-Russias-government-bond-rating-to-Baa3-on-review--PR_316487">full release</a>:
New York, January 16, 2015 -- Moody's Investors Service has today downgraded Russia's government bond rating to Baa3/Prime 3 (P-3) from Baa2/Prime 2 (P-2). The rating was also placed on review for further downgrade.
The key drivers behind the downgrade are:
1) Moody's expectation that the substantial oil price and exchange rate shock will further undermine the country's already subdued growth prospects over the medium term; and
2) Moody's nearer-term concerns over the negative impact on the government's financial strength of the erosion in official foreign exchange buffers and fiscal revenues.
In the review for further downgrade, Moody's will assess the resiliency of the government's balance sheet, in particular its foreign currency reserves cushion, to both the rating agency's baseline forecast for oil prices and to the risk of a further decline in oil prices at a time when <keyword id="6356001" type="COMPANY" weightage="60" keywordseo="international">international</keyword> market access is restricted for Russian borrowers due to sanctions. The review will also focus on the efficacy of policy actions that the Russian central bank and fiscal policymakers may take to address the oil and exchange rate shock in an effort to preserve economic and government financial strength.
Moody's also lowered Russia's country ceilings for foreign currency debt to Baa3/Prime 3 (P-3) from Baa2/Prime 2 (P-2) to align it with the sovereign rating, and reduced the long-term country ceilings for local currency debt and deposits to Baa2 from Baa1, while leaving unchanged the country ceiling for foreign currency bank deposits at Ba1/Non Prime (NP).
RATINGS RATIONALE
RATIONALE FOR DOWNGRADE TO Baa3
- FIRST DRIVER: OIL PRICE AND EXCHANGE RATE SHOCKS WILL FURTHER UNDERMINE RUSSIA'S ECONOMIC GROWTH PROSPECTS
Moody's one-notch downgrade to Baa2 in October 2014 balanced an increasingly subdued growth outlook -- in part reflecting Russia's weak institutional strength and the challenging geopolitical environment -- against the government's still extremely strong balance sheet. The negative outlook reflected the fragile nature of that balance, with both the growth outlook and the government's fiscal position exposed to further shocks that could more profoundly undermine consumer and investor confidence, hastening the erosion of fiscal and foreign currency buffers.
As evidenced by the recent further steep falls in oil prices and the exchange rate, these shocks have materialized. According to Moody's, the severe -- and likely to be sustained -- oil price shock, alongside Russian borrowers' highly restricted international market access due to ongoing sanctions, is undermining economic fundamentals and increasing financial stresses on both the public and private sectors. In its updated growth outlook for Russia, Moody's now expects real GDP contractions of around 5.5% in 2015 and 3% in 2016, bringing real growth over the 10 years through 2018 to virtually zero.
The hike in interest rates that took place in December and rapidly rising inflation, which will inhibit the central bank from easing rates in the coming months, will further squeeze consumers' disposable incomes. In addition, the capacity of the banking sector to provide credit is impaired, causing credit to be scarce, and expensive when available. Moody's expects that even if interest rates are lowered over time, lending will remain constrained; asset quality and profitability problems in the banking system will likely escalate the longer that the recession lasts despite efforts by the government to bolster the system's capital and funding base.
The high level of uncertainty is likely to cause the savings rate to rise, thereby further undermining consumption and economic recovery, in contrast to a situation in which households believe that the recession would be short-lived.
- SECOND DRIVER: NEGATIVE IMPACT ON GOVERNMENT'S FINANCIAL STRENGTH OF ERODING FOREIGN EXCHANGE BUFFERS AND FISCAL REVENUES
Although the rating agency expects Russia's current account to stay in surplus due to import compression and continued capital flight, the ongoing repayment of external debt by the corporate, banking and public sectors and the outflow of direct investment will likely increase the speed of erosion of official foreign reserves, says Moody's.
In Moody's view, Russia's nominal FX reserves could fall by at least as much this year as they did in 2014, when they declined by around$125 billion. These estimates are based on the pattern and levels of public and private sector debt amortization, and on assumptions regarding the private sector's drawdown of its accumulated cash reserves and capital flight.
Moody's notes that an additional erosion of FX reserves would not in itself be critical for the government's capacity to service its debt. Russia-- especially the government -- is not heavily indebted and its debt maturity schedule is relatively elongated after the maturities falling due in 2014-15 have been paid. However, while the loss of reserves will probably not endanger the government's capacity to service its own debt, significant uncertainty exists over the future dimension and direction of foreign reserves. That uncertainty is an important driver of the decision to move the rating down to Baa3.
Moody's also expects that the oil price shock, and the ensuing recession, will cause the government's fiscal position to worsen. Although the impact of the drop in oil prices on ruble-denominated government revenues will be partly offset by the depreciation of the exchange rate, and high inflation will likely limit the impact on non-oil revenues, Moody's expects that the government's revenues will nonetheless fall significantly over the course of next year as Russia's economy contracts. Set against that, it is likely that some form of fiscal stimulus will be implemented either this year or next to mitigate the economic and political consequences of the crisis. Together, Moody's expects these influences to widen the fiscal deficit, with the result that government debt will rise over the next two to three years, albeit from very low levels.
Added to that, the risk of politically-motivated actions which either directly or indirectly raise risks to creditors is rising in the context of current geopolitical tensions. Even if that risk remains low, its rise further shifts the delicate balance identified at the time of the last rating action to the downside.
Moody's notes that the government's balance sheet remains ostensibly very strong, with very low debt levels and a recent track record of fiscal prudence. Even with a significant further weakening of the country's reserves position, Russia's liquidity ratios such as Moody's external liquidity indicator (EVI) would remain relatively strong. At the end of 2015, the 1-year EVI is estimated at 28.9% (measuring debt obligations falling due in the year against official foreign reserves levels). Import coverage of foreign currency reserves would also remain adequate, although that number is somewhat flattered by the expected import compression.
RATIONALE FOR REVIEW FOR FURTHER DOWNGRADE
The government's ability to sustain its financial strength, which is the main factor supporting the country's investment grade rating, rests on a large number of assumptions regarding, for example: oil prices and the exchange rate; the longevity of sanctions; capital flows; the effect of import compression on the current account balance; the impact of recession and inflation on the government's fiscal position; and the policy response to domestic or external financial pressures. Small changes in assumptions could imply a more severe decline of reserves and a more rapid accumulation of debt by the government.
The review of Russia's Baa3 government rating for downgrade will examine all of these assumptions in order to form a definitive view of the resilience of the economy and the government's balance sheet to further shocks. The review will focus, inter alia, on the resilience of the government's foreign currency reserves buffer to both our baseline forecast for oil prices and to more conservative scenarios. Should oil prices fail to recover in 2016 and beyond, or even drop further, Russia's recession would likely persist beyond 2016 and the loss of investor and consumer confidence would be even more profound, leading to continued capital flight. The rating agency will examine the options available to the central bank and the government to support the economy in such circumstances.
In particular, Moody's will focus on whether foreign currency reserves can be maintained at a level sufficiently higher than similarly rated peers with stronger institutional strength and policy predictability. In addition, the review will examine the extent to which the potential need to provide financial support of the corporate and banking sectors may erode the sovereign's financial strength and increase its susceptibility to event risks by reducing the central bank reserves, increasing the government budget deficit and/or increase the use of government guarantees.
WHAT COULD CHANGE THE RATING -- UP
Given the review for downgrade of the government's rating currently in effect, limited upward pressure is likely in the next 12-18 months. Moody's would confirm the current rating of Baa3 if the scenario analysis undertaken during the review were to show resilience in the country's external and fiscal position.
WHAT COULD CHANGE THE RATING -- DOWN
Russia's ratings would be downgraded should Moody's conclude, following the review, that the combination of risk factors identified above would likely lead to a more pronounced erosion of the government's external buffer and/or fiscal balance, leading to a loss of financial strength to a level inconsistent with its current rating. In that event, the most likely outcome would be a one notch downgrade, although more severe outcomes cannot be ruled out in the current volatile environment.
GDP per capita (PPP basis, US$): 24,298 (2013 Actual) (also known as Per Capita Income)
Real GDP growth (% change): 1.3% (2013 Actual) (also known as GDP Growth)
Inflation Rate (CPI, % change Dec/Dec): 6.5% (2013 Actual)
Gen. Gov. Financial Balance/GDP: -1.3% (2013 Actual) (also known as Fiscal Balance)
Current Account Balance/GDP: 1.6% (2013 Actual) (also known as External Balance)
External debt/GDP: 35.1% (2013 Actual)
Level of economic development: Moderate level of economic resilience
Default history: At least one default event (on bonds and/or loans) has been recorded since 1983.
On 14 January 2015, a rating committee was called to discuss the rating of the Russia, Government of. The main points raised during the discussion were: The issuer's fiscal or financial strength, including its debt profile, has materially decreased. The issuer has become increasingly susceptible to event risks.
The principal methodology used in these ratings was Sovereign Bond Ratings published in September 2013. Please see the Credit Policy page on www.moodys.com for a copy of this methodology.
The weighting of all rating factors is described in the methodology used in this rating action, if applicable.

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