The Reserve Bank of India (RBI) has once again voiced concerns on separation of Debt Management Office (DMO) from Central Bank. “Separation of debt management from Central Bank needs to be revisited in the wake of global financial crises,” said H R Khan, Deputy Governor, RBI at a conference in Doha recently.......
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Friday, September 21, 2012
RBI vs RBI
......In any case, RBI Deputy Governor KC Chakrabarty has been chiding banks because they’re not lowering loan rates and holding them responsible for ineffective monetary transmission. Well, this time around, banks are being compelled to cut rates to drum up business, even though RBI hasn’t touched the policy rate. Unless loan growth picks up dramatically in the remaining months of the year, banks should not be short of liquidity and so loan rates could trend down. The big challenge for banks, however, remains deposits, which are growing slowly because of which banks may not be able to cut rates beyond a point. The irony, of course, is that while RBI is against rate cuts in the face of stubborn inflation, its CRR cut is what made the rate cuts possible.
FM to RBI: more bank licences, please
......A senior RBI official told HT that framing the guidelines is taking more time than expected due to the extensive nature of the suggestions received by the central bank. “We need to study every minute details before finalising the guidelines,” the official said.
Finally, Govt bites reforms bullet - S S Tarapore
......The RBI’s Mid-Quarter Review on September 17, 2012, correctly emphasises that in the recent period, growth risks have increased while inflation risks remain. The reduction of the cash reserve ratio (CRR) from 4.75 per cent to 4.50 per cent, releasing Rs 17,000 crore, appears to be in the nature of support to the government’s recent measures, rather than responding to any need for increased liquidity......
Need to initiate policies that enhance domestic capacities: Subir Gokarn, Deputy Governor, RBI
NEW DELHI: RBI Deputy Governor Subir Gokarn said that India needs to initiate policies that enhance domestic capacities in order to offset the world pressure. He was speaking at a session on Macro-economic Issues and Challenges to India's growth, organised by the PHD Chamber of Commerce and Industry in New Delhi.......
Read - ET
Read - ET
Champagne and vada pao - again?
......Thus, the threat of 55 to the dollar (or worse) remains in place, so short dollar exposures should be prudent, particularly as premiums have started to ease a bit. A little hesitantly, I would forecast a range of 52.50 to 55 for the rest of this year. In any event, the RBI should be looking at loosening some of the constraints it put on the market to contain volatility. Not only would the increased volatility drive more companies to hedge on both sides of the book, but more deregulation would also be of a piece with the new Reforms 2.0 agenda.......
Selection of CMDs and EDs in Public Sectors Banks Are Nothing More Than Farce
......As I was searching for something on banking, I came across a write up of 2005 in Rediff under the heading "Farce of Bank CMD Selection" (the original articles appears to have been published in Business Standard). As I read the article, I felt that nothing has changed in last 7 years. ......
RBI to issue Rs 100 banknotes with inset letter 'G' soon
......"The Reserve Bank of India will shortly issue Rs 100 denomination banknotes with inset letter 'G', in both the numbering panels, in the Mahatma Gandhi Series-2005 , bearing the signature of D Subbarao, governor, RBI, and the year of printing 2012 printed on the reverse of the banknote," RBI said in a notification today.......
RBI to issue gold sovereign bonds to strengthen rupe
The Reserve Bank of India is planning to set up a panel to suggest a roadmap to tap into India’s gold holdings reports CNBC-TV18‘s Siddharth Zarabi......
Reserve Bank of India : DRG Study: Pricing of Paddy: A Case Study of Andhra Pradesh
The Reserve Bank released today the DRG Study on " Pricing of Paddy: A Case Study of Andhra Pradesh" authored by Dr. Ramana Murthy and Smt. Rekha Misra. From this DRG Study Series No. 38 onwards, Reserve Bank will be only web hosting the DRG Studies and no printed version will be made available......
Read.........
Read.........
Govt asks banks to promote e-payments, cut cheque transactions
......he Finance Ministry has also asked public sector banks (PSBs) to ensure that all payments and disbursements by the banks, except sundry payments, are made only electronically. "Banks must devise suitable monitoring parameters to judge the effectiveness of the e-payment drive," sources said, adding that the Executive Director dealing with the matter should be assigned the responsibility of supervising e-payment drive in the respective banks.......
Attn! Numerical sequences as ATM pin?
If your ATM pin code is your birth date, a year in the 1900s, or an obvious numerical sequence, the chances of thieves cracking your password are way higher, according to a new study.......
Bank interest rates to fall 50 bps: BofA
......BofA-ML expects the RBI to cut the CRR by a further 0.50 percent in its third quarter policy review on October 30, the note said, adding, the central bank may also infuse an additional liquidity of Rs 1,00,000 crore by March through open market operations (OMOs)......
Bank deposits outpace credit growth
Deposit accretion in banks continues to outpace loan disbursements this financial year. The trend prompted lending rate and deposit rate cuts by several banks in the period. As the Reserve Bank of India (RBI) data released on Thursday, bank deposits grew Rs 91,853 crore between June 29 and September 7, 2012. Outstanding credit fell by Rs 11,153 crore in the same period. In the first five months of the current financial year, deposits were up by Rs 2 lakh crore, while credit was up Rs 44, 904 crore.......
Hold on to the savings
...... A large number of banks sell gold. While banks have always lent against gold, a few non-banking finance companies, many from Kerala, have cashed in on the demand and exponentially increased their lending. The RBI, concerned with such rapid growth, has clamped down in a few cases. The other big macroeconomic worry arises from the fact that very large gold imports widen the trade imbalance and the current account deficit.......
Banks caught in a cleft
......As if these hurdles don’t make the lives of bankers difficult enough, there is also the regulatory overhang of higher capital needs. As per estimates released by Reserve Bank of India, banks would need about Rs 5 lakh crore to meet new Basel-III-capital norms......
UIDAI Rolls Out API For e-KYC Verification
......As part of the e-KYC process, the resident can authorize UIDAI (through Aadhaar authentication) to provide their basic demographic data for PoI and PoA along with their photograph (digitally signed) to service providers. For the same, UIDAI has released e-KYC API......
India’s Power List: SBI Head Tops It
Pratip Chaudhuri, the chairman of the State Bank of India, topped the list of Indian executives making headlines over the past month, according to data on regional and global media mentions compiled by Dow Jones Insight......
State Bank of India ordered to pay Rs 24K with interest
......A redressal forum today directed State Bank of India at Hoshiarpur to pay Rs 24,056 as compensation to one of its account holders along with interest for negligence to prevent unauthorised transactions through his ATM card......
Tata Capital to bring insurance, AMC firms under its fold
......Since the banking regulator does not allow any financial services entity held by NOHC to engage in activities that can be undertaken by the bank, Tata Capital Housing Finance will be merged with the non-banking company. RBI’s draft norms suggest that the promoters of banks should bring down their shareholding below 40% within two years of the banks being operational. The banks will also have to be listed within this period.......
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