So RBI has increased the savings account deposit rate to 4%. To be frank, I don't remember the changes in this rate in 1992 and 2003. I was too young to worry about money matters in the former and too dumb to ignore the monetary side of life in the latter. :-(

The other day I was reading an article about the program that Monika Halan comperes on NDTV. She said that women do have this tendency to think that they cannot manage finance - or something to that effect. I was angry at first. But when I reflected on it, I found that it was true as far as I am concerned.

Before MBA, that was precisely what I used to think about investments. During the course of my MBA, I took finance courses to get familiar with the basics and in the vague hopes of securing a toehold in the Finance sector. Though the hope remained nothing more than wishful thinking, I succeeded in my first objective. Of course, I am not saying I passed the finance courses with flying colors. But somewhere, it gave me the confidence that I am not as dumb as I was suspecting all along when it comes to understanding money. An added advantage was that I actually started liking reading about Finance. :-)

So I agree fully with Ms Halan when she said that once this initial hurdle is crossed, then women will be on a roll as far as personal finance goes.

Okay, now back to the rate increase. I wasn't too thrilled about it as the 0.5% increase is not going to make a billionaire out of me. But something in an article in The Mint caught my attention. One person from the Banking industry had said that this will bring in a slew of innovative products like e.g. a tiered structure of deposits where once the amount crosses a certain threshold, a new rate kicks in. That should be interesting but I guess the RBI should take a few pages out of Sebi's and IRDA's notebook to fight the bogeyman called 'Mis-selling'!

P.S. Another confession is in order. I cannot, for the life of me, remember which rate - repo or reverse repo - injects liquidity in the system. If you have any handy tips for the same, do drop a line :-)