FINANCIAL CRISIS IN THE DEVELOPING WORLD - POST THE US "ASSET PRICE BUBBLE DEBACLE" - A NEW WAY FORWARD

This paper analyze how we should respond to possible asset price bubbles, especially in view of the various conceptual frameworks proposed based on a core set of scientific principles for monetary policy. Further, efforts have also been made at my end to establish as to how Monetary policy should not react to asset price bubbles per se, but rather to changes in the outlook for inflation and aggregate demand resulting from asset price movements. However, regulatory policies and supervisory practices should respond to possible asset price bubbles and help prevent feedback loops between asset price bubbles and credit provision, thereby minimizing the damaging effects of bubbles on the economy.The general massage of this paper is that credit conditions influence economies enormously and emergency steps to restructure balance sheets through policy revamping are crucial for fixing problems of excessive leverage. This stands in sharp contrast to the view from conventional models - that 'the effects of a worsening of financial intermediation are likely to be limited' and can be handled by interest rate cuts alone.In the alternative regulatory policy approach, we have strived to examine three possible regulatory responses to managing bubbles: portfolio restrictions; adjustments in capital requirements; and adjustments in provisioning requirements.JEL Classification: E58, E63, G15Keywords:financial crisis, asset price bubble

FINANCIAL CRISIS IN THE DEVELOPING WORLD - POST THE US ASSET PRICE BUBBLE DEBACLE - A NEW WAY FORWARD

This paper analyze how we should respond to possible asset price bubbles, especially in view of the various conceptual frameworks proposed based on a core set of scientific principles for monetary policy. Further, efforts have also been made at my end to establish as to how Monetary policy should not react to asset price bubbles per se, but rather to changes in the outlook for inflation and aggregate demand resulting from asset price movements. However, regulatory policies and supervisory practices should respond to possible asset price bubbles and help prevent feedback loops between asset price bubbles and credit provision, thereby minimizing the damaging effects of bubbles on the economy.The general massage of this paper is that credit conditions influence economies enormously and emergency steps to restructure balance sheets through policy revamping are crucial for fixing problems of excessive leverage. This stands in sharp contrast to the view from conventional models - that \u27the effects of a worsening of financial intermediation are likely to be limited\u27 and can be handled by interest rate cuts alone.In the alternative regulatory policy approach, we have strived to examine three possible regulatory responses to managing bubbles: portfolio restrictions; adjustments in capital requirements; and adjustments in provisioning requirements.JEL Classification: E58, E63, G15Keywords:financial crisis, asset price bubble

Different Pattern of Immunoglobulin Gene Usage by HIV-1 Compared to Non-HIV-1 Antibodies Derived from the Same Infected Subject

A biased usage of immunoglobulin (Ig) genes is observed in human anti-HIV-1 monoclonal antibodies (mAbs) resulting probably from compensation to reduced usage of the VH3 family genes, while the other alternative suggests that this bias usage is due to antigen requirements. If the antigen structure is responsible for the preferential usage of particular Ig genes, it may have certain implications for HIV vaccine development by the targeting of particular Ig gene-encoded B cell receptors to induce neutralizing anti-HIV-1 antibodies. To address this issue, we have produced HIV-1 specific and non-HIV-1 mAbs from an infected individual and analyzed the Ig gene usage. Green-fluorescence labeled virus-like particles (VLP) expressing HIV-1 envelope (Env) proteins of JRFL and BaL and control VLPs (without Env) were used to select single B cells for the production of 68 recombinant mAbs. Ten of these mAbs were HIV-1 Env specific with neutralizing activity against V3 and the CD4 binding site, as well as non-neutralizing mAbs to gp41. The remaining 58 mAbs were non-HIV-1 Env mAbs with undefined specificities. Analysis revealed that biased usage of Ig genes was restricted only to anti-HIV-1 but not to non-HIV-1 mAbs. The VH1 family genes were dominantly used, followed by VH3, VH4, and VH5 among anti-HIV-1 mAbs, while non-HIV-1 specific mAbs preferentially used VH3 family genes, followed by VH4, VH1 and VH5 families in a pattern identical to Abs derived from healthy individuals. This observation suggests that the biased usage of Ig genes by anti-HIV-1 mAbs is driven by structural requirements of the virus antigens rather than by compensation to any depletion of VH3 B cells due to autoreactive mechanisms, according to the gp120 superantigen hypothesis

Lytic polysaccharide monooxygenases (LPMOs) producing microbes: A novel approach for rapid recycling of agricultural wastes

Not AvailableOut of the huge quantity of agricultural wastes produced globally, rice straw is one of the most abundant lignocellulosic waste. For efficient utilization of these wastes, several cost-effective biological processes are available.The practice of field level in-situ or ex-situ decomposition of rice straw is having less degree of adoption due to its poor decomposition ability within a short time span between rice harvest and sowing of the next crop. Agricultural wastes including rice straw are in general utilized by using lignocellulose degrading microbes for industrial metabolite or compost production. However, bioconversion of crystalline cellulose and lignin present in the waste, into simple molecules is a challenging task. To resolve this issue, researchers have identified a novel new generation microbial enzyme i.e., lytic polysaccharide monooxygenases (LPMOs) and reported that the combination of LPMOs with other glycolytic enzymes are found efficient. This review explains the progress made in LPMOs and their role in lignocellulose bioconversion and the possibility of exploring LPMOs producers for rapid decomposition of agricultural wastes. Also, it provides insights to identify the knowledge gaps in improving the potential of the existing ligno-cellulolytic microbial consortium for efficient utilization of agricultural wastes at industrial and field levels.Not Availabl

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Not AvailableThis study addresses the plant beneficial enterobacteria present in rice rhizosphere and their efficiency for en- hancing nitrogen uptake in rice plant. Using culturable approaches, the population of total diazotrophs present in rhizosphere samples collected from different organic rice fields of Sikkim were studied and recorded in the range between 4.62 to 4.97 log 10 CFU/g soil. All the isolated commonly occurred diazotrophic bacterial isolates were screened based on their ability to fix nitrogen in milligram per gram of sugar consumed under in-vitro condi- tion with the reference check. In addition to nitrogen fixation, plant growth promoting traits such as production of indole-3-acetic acid and gibberellic acid were estimated using spectrophotometric approaches and compared against Bacillus subtilis as reference multi-potent plant growth promoting strain . In-vivo evaluation of these dia- zotrophic species in rice found improvement in both above and below ground responses in rice plant evaluated by estimating changes in chlorophyll concentration, plant biomass, root architecture, nitrogen uptake, microbial biomass and associated biochemical activity of soil. Further, the selected isolates were identified through DNA targeted analysis of 16S rRNA gene present in diazotrophs and which identified that the isolates belonged to the Enterobacter genus. Statistical models were prepared for deciphering the dynamics of plant growth improvement due to selective enrichment of rhizosphere bacteria and found significant ( p < 0.05) correlation between soil and plant parameters. This study concludes that Enterobacter spp. present in organic paddy soils of Sikkim having good nitrogen fixing abilities and whose selective enrichment in rhizosphere improved nitrogen uptake and plant growth promotion in rice plantNot Availabl

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Comparison of Gonadal Toxicity of Single-Fraction Ultra-High Dose Rate and Conventional Radiation in Mice

Purpose: Increasing evidence suggests that ultra-high-dose-rate (UHDR) radiation could result in similar tumor control as conventional (CONV) radiation therapy (RT) while reducing toxicity to surrounding healthy tissues. Considering that radiation toxicity to gonadal tissues can cause hormone disturbances and infertility in young patients with cancer, the purpose of this study was to assess the possible role of UHDR-RT in reducing toxicity to healthy gonads in mice compared with CONV-RT. Methods and Materials: Radiation was delivered to the abdomen or pelvis of female (8 or 16 Gy) and male (5 Gy) C57BL/6J mice, respectively, at conventional (∼0.4 Gy/s) or ultrahigh (>100 Gy/s) dose rates using an IntraOp Mobetron linear accelerator. Organ weights along with histopathology and immunostaining of irradiated gonads were used to compare toxicity between radiation modalities. Results: CONV-RT and UHDR-RT induced a similar decrease in uterine weights at both studied doses (∼50% of controls), which indicated similarly reduced ovarian follicular activity. Histologically, ovaries of CONV- and UHDR-irradiated mice exhibited a comparable lack of follicles. Weights of CONV- and UHDR-irradiated testes were reduced to ∼30% of controls, and the percentage of degenerate seminiferous tubules was also similar between radiation modalities (∼80% above controls). Pairwise comparisons of all quantitative data indicated statistical significance between irradiated (CONV or UHDR) and control groups (from P ≤ .01 to P ≤ .0001) but not between radiation modalities. Conclusions: The data presented here suggest that the short-term effects of UHDR-RT on the mouse gonads are comparable to those of CONV-RT