After upgrading to redhat-6.0, the user's .inputrc files stopped working. Investigatigation revealed that INPUTRC is set in /etc/profile, pointing to /etc/inputrc. Worse, it assumes everybody want's editing-mode-emacs. Even "Fixing it" by submitting "set -o vi" does not work, because the key bindings in /etc/inputrc break vi-editing-mode. Most people know vi, not emacs. So it is a mystery to me why you want to force emacs mode in bash, and even prevent the bash builtin 'set -o vi' to work.
*** This bug has been marked as a duplicate of 2738 ***