Greater Mumbai Co-op Bank unveils new logo



Symbolic identity

Mr S. Karuppasamy (right), RBI Executive Director, and Mr Narendrakumar Balota, chairman of the Greater Bombay Cooperative Bank, at a press conference to unveil the bank’s new logo in Mumbai on Thursday

Capital requirements for co-ops to jump manifold: RBI

….."Depending on the location and area...we are coming up (with the guidelines for cooperative banks). There will be liberal norms for setting up a bank in backward areas and slightly tougher norms in the banked areas," RBI Executive Director S Karuppasamy told reporters here. He said under the existing norms, a cooperative bank can be set up with a minimum capital of Rs 15 lakh, which will now be increased to Rs 50 lakh for banks in the backward areas and Rs 3 crore for urban areas which already have banking infrastructure. About the timeline for new guidelines, Karuppasamy said, "We are in the final stage... will come out with it shortly."……

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Cooperative bank earns maximum profit with minimum staff

The Reserve Bank of India has adjudged Manapparai Town Cooperative Bank as one of the 10 cooperative town banks in the State which have earned maximum profit employing minimum staff.

A three-member team of the Reserve Bank of India from Chennai, which visited the cooperative bank to conduct an annual inspection, had disclosed this, said G.Balachandar, special officer of the Manapparai Town Cooperative Bank while addressing its general body meeting held recently............

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Dena Bank celebrates International Women’s Day

Dena Bank marked the International Women's Day in the presence of Shyamala Gopinath, Retd. Deputy Governor, RBI. The occassion was graced by Nupur Mitra, the First Chairperson & MD, Dena Bank & Executive Director, Ashok Dutt, Chairman of Women Cell of the Bank and RK Gupta, GM, Dena Bank.

FPJ

Release of currency

The Reserve Bank of India (RBI) would henceforth release 100-note bundles of Rs.1,000 denomination that are not numbered in the regular sequence. In a release here, the RBI said this was to prevent the circulation of counterfeit currency.

HBL

Third ED appointment in large banks delayed

The appointment of a third executive director (ED) in public sector banks, scheduled on April 1, has been delayed due to bureaucratic hurdle. The government was expected to appoint additional EDs in six large public sector banks — Punjab National Bank, Bank of Baroda, Canara Bank, Bank of India, Union Bank of India and Central Bank of India — to begin with. Appointments for other banks were to follow: Smaller institutions such as Bank of Maharashtra and Dena Bank, which have one executive director, were to get a second……

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MP bankers' meet focuses on priority sectors

BHOPAL: Financial inclusion is yet to percolate completely in the state. The State Government was requested to look into the possibility of institutionalizing some kind of cadre from among the youth in the State for BC work on behalf of the banks, according to the state-level state-level bankers' committee. The 146th meeting of State Level Bankers' Committee (SLBC) held here on Wednesday observed that one of the major impediments faced by banks in this respect is of selecting right kind of Business Correspondents (BCs). The meeting co-chaired by the state Chief Secretary Avani Vaish and M V Tanksale, Chairman and Managing Director of the Central Bank, reviewed the performance of the bank during the quarter that ended in December 2011. Addressing the participants Vaish informed that special attention is being given to priority sector and allied sector by the state government. A separate budget for agriculture and allied sector has been conceived and introduced in the state in this year's budget. A total outlay, incorporating the various demands related to the agriculture sector together, has been projected, so that the progress on agriculture becomes clear. He solicited the co-operation of banks for this. It was also said that thrust has been given to agriculture and allied sector in the Budget 2012. Govt of India's desire to identify potential in the Agriculture in each area and focus on it for development was underlined. For effective implementation of Green Initiative of Government of India, Central Bank of India has decided to provide e-Treasury services in Madhya Pradesh. In this context, the State Government was requested to ensure that all EBT payments to beneficiaries who have been issued Smart Cards should be made through smart cards only. The meeting was attended, amongst others, by R Parasuram, Additional Chief Secretary, Ajay Nath, Principal Secretary-Finance, Aruna Sharma, Principal Secretary - Panchayat & Rural Development, Ashok Shah, Commissioner-Institutional Finance and S Choudhary, GM and Officer-in-Charge, RBI, Bhopal.

TOI

RBI Governor D Subbarao’s maiden visit to Jammu & Kashmir

SRINAGAR: RBI Governor Dr D Subbarao's maiden visit to J&K did not impress him at all. Finding the banking sector lending barely 35 percent of the funds within the state led him to fix a target of 40 percent for the next fiscal……………

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RBI's Gokarn Says Inflation in India `Heading Down'

Reserve Bank of India Deputy Governor Subir Gokarn speaks about the impact of oil prices on the nation's economy and monetary policy. He spoke yesterday with Susan Li at the Credit Suisse Asian Investment Conference in Hong Kong.

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Liquidity crunch due to high inflation: Chakrabarty

RBI Deputy Governor K C Chakrabarty on Thursday said supply will remain squeeze as long as inflation remains high.  "Liquidity will be tight when we are fighting inflation. But settlements are also happening. Liquidity will remain tight till inflation comes down," Chakrabarty told reporters………

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Financial chaos on the cards - S.S.Tarapore

While the Finance Minister has heroically tried to address the fiscal crisis, the RBI Governor would be well-advised not to take his foot off the brakes until there are clear signs of sustained fiscal consolidation...................

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RBI deferring norms to ease MFIs operations

....With the Reserve Bank of India deferring provisioning norms of bad assets for NBFC – microfinance companies, most players hope this would ease operations for the next six months atleast, helping them maintain net worth and capital adequacy ratio as well, a measure of their financial strength..........

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New gold standard

.....The gold loans are also usually of small ticket sizes made for periods of six months to a year. That – apart from the inherent value of the collateral itself – makes them less risky vis-à-vis lending to power projects or even home loans of 15-20 years' tenure. Moreover, it is not clear how exactly the RBI has arrived at 60 per cent loan-to-value ratio as a safe outer limit for NBFCs, even while not mandating it in respect of gold advances by commercial banks. This, despite the likes of Muthoot and Manappuram Finance having far less proportion of bad loans on their books compared with regular banks. ........

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Gold loan cos welcome RBI move; analysts say will trim margins

……However, analysts said the RBI measures would squeeze their margins and curtail growth. "The RBI measures are negative for the gold financing NBFCs as it will erode their margins and curtail their future growth rate,"…….

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India’s Basel III problem

In order to comply with the Basel III guidelines, aimed at strengthening the global banking sector in the aftermath of the economic crisis of 2008-09, the Reserve Bank of India (RBI) recently announced its draft guidelines for Indian banks. RBI’s guidelines are more stringent than the ones laid down in the Basel III framework. The guidelines lay down strict capital adequacy norms and propose to enhance the quality of the banks’ capital by increasing the equity component therein. These guidelines also propose to augment the loss absorption capacity of the non-equity tier-1 capital and subordinated debt. Indian banks will have to reach the proposed capital adequacy requirements in a phased manner by March 2017, earlier than the 2019 timeframe laid down in the original Basel III framework........

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National Housing Bank plans to broaden its area of expertise

National Housing Bank, or NHB, plans to explore new products like credit enhancement and risk sharing financial facilities in an attempt to broaden its activity as a financier to housing finance companies once the Parliament passes the National Housing Bank (Amendment) Bill, 2012, in the Budget session………..

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Banks may run out of cover to shield trading losses

…..Bankers said that open market operations (OMOs) by RBI conducted this year helped create room for excess supply. However, OMOs may not be sufficient next year given the borrowing. In 2011-12, RBI purchased illiquid government securities worth more than Rs 1 lakh crore to offset the impact of higher-than-budgeted borrowing on yields and liquidity…….

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Markets sceptical of fiscal consolidation

.......With the next monetary policy review due on April 17, RBI should give the government a chance by beginning the easing process. Among other factors, growth of GDP will guide the fiscal consolidation in 2012-13...........

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RBI cancels licences of 3 Chennai-based NBFCs

....RBI, according to separate notifications, has cancelled the licences of three Chennai based companies -- Tamil Nadu Water Investment Company, Ashley Holdings and LSP Finance.......

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