Market turbulence unlikely to be over in next two years: Gokarn

Pune : Subir Gokarn, Deputy Governor of the Reserve Bank of India (RBI) on Saturday cautioned banks saying that the banking sector is working in a risk-prone environment and “the turbulence” in the market is unlikely to be over in the next two years.......................

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Raising overseas investment cap depends on current account: RBI

“The issue is that we are a capital scarce country and our current account pressures are increasing and there are demands on the forex reserves for how much further liberalisation we need to do and that is something we need to keep in view,” RBI Deputy Governor HR Khan said...............

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Distinguished scholars, Experts to address Oxford India Business Forum 2012 Mumbai on March 19

........ The first panel of speakers including Sir Thomas Harris, Special Advisor, Standard Chartered Bank; Usha Thorat, Director of the Centre for Advanced Financial Research and Learning (CAFRAL), Reserve Bank of India; Ms Chitra Ramkrishna, Joint Managing Director, National Stock Exchange, will discuss on regulatory systems around the world which have failed to detect the underlying trends leading to the current economic crisis. The panelists will explore the appropriateness of this characterization of regulatory bodies, as well as reflect on the lessons learned about the appropriate size, compensation, and composition of regulatory bodies in relation to the financial sector. The speakers will also draw the outlines of what proactive, technologically sophisticated regulation should look like in the future.........

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Gold prices and financial stability

Has gold as a safe haven turned into a bubble? More importantly, if that bubble pops, would the Indian financial system be at risk? These weighty questions are addressed by RBI staffers, Rabi N. Mishra and G. Jagan Mohan, in their recent working paper “Gold prices and Financial Stability in India"....................

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INDIAN RUPEE SHORTAGE

......... there are reports that RBI has issued a circular to its banks to start trade transaction with Nepal in USD. (Previously, Nepal and Bhutan had been trading with India in INR.) The circular that only concerns Nepal clearly implies that India seeks to minimize frauds related to INR transactions in Nepal. But this will have an adverse effect on two-way trade in border areas.  This RBI inquiry could be one of the strategies of the Indian government to put pressure on Nepali government to change the peg. As an import-dependent land-locked country, Nepal has always been dependent on India, politically, economically and culturally. This could be one of India’s strategies to maintain Nepal’s monetary dependency on the southern neighbor. As Indian businesses in Nepal will not immediately benefit by a change in the peg, the latest move seems to have been taken with a long-term vision..............

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TV actress falls prey to online lottery fraud

.......... Shetty claims she received a form with the Reserve Bank of India (RBI) logo in her e-mail. She immediately filled up the form and replied to the mail. Later, she also deposited the amount. As she didn't get the prize money, she realized that she was cheated.

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ASSOCHAM for immediate reduction of CRR by 100 basis points to address intense liquidity crunch

To make funds available for many large projects awaiting disbursement and instil confidence amid investors, the ASSOCHAM has sent an SOS to the Union Finance Minister, Mr Pranab Mukherjee and the Reserve Bank of India (RBI) Governor, Dr D. Subbarao to urgently cut CRR by at least 100 basis points with a view to provide Rs one lakh crore for the growth of the economy without awaiting the monetary policy scheduled March 15........

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Value picks yield high in volatile markets

............. The domestic stock markets are expected to do well in the medium term as the uncertainty in the European markets seems to have been resolved for the time being, and inflation dropping here will enable the Reserve Bank of India (RBI) to ease the monetary policy, going forward......................

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Recruitment of Assistants in Reserve Bank of India

1000 posts of Assistants to be filled..............

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Now, some old private banks to recruit thru common written exam

....Some more bank jobs in the private sector will open up shortly for candidates who have passed the common written exam (CWE) (for both officers and clerks) conducted by the Institute of Banking Personnel Selection (IBPS). .............

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Two held for bank scam

.......... The banking licence of the Ahmedabad-headquartered GICB was cancelled by the RBI due to insolvency in November last year. The bank has 20 branches in 19 cities in Gujarat. The co-operative bank's fate became uncertain after RBI clamped restrictions on it for failing to reduce its non-performing assets (NPAs). In September 2008, the bank was placed under section 35A of the Banking Regulation Act 1949 which places a ceiling on repayment of deposits per depositor. "The bank has a bagful of scandals where loans worth crores have been given without taking collateral. The bank has deposits worth Rs 535 crore and NPAs of Rs 300 crore," said Bipin Shah, who was appointed on the bank's administration board by RBI.........

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Kripashankar Singh saga: were the bureaucrats asleep?

.............. you need a bank transaction to close the purchase of any property described in the list of attached assets – and the Reserve Bank of India AND the Income Tax department ought routinely to have been informed. If they were indeed informed, why didn’t they raise a red flag?....................

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When your cheque goes missing

...The RBI has mandated that banks, under no circumstances, should refuse to accept cheques over the counter and that they must give proper acknowledgement when received at the counter. ..............

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