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Saturday, September 22, 2012
Get the rupee off this roller-coaster
Banks capable of tiding over NPAs mount, says RBI deputy governor Anand Sinha
MUMBAI: Reserve Bank Deputy Governor Anand Sinha today said banks' asset quality has deteriorated in recent times due to the gloomy economic conditions but noted that there is enough capital with the lenders to take care of the situation. "Yes, there is pressure on asset quality and at the same time we have enough capital to sustain that," he told reporters on the sidelines of an Economic Times event here.......
Dynamic provisioning can contribute to financial stability: RBI
......“While there is no guarantee that dynamic provisions will be enough to cope with all the credit losses of a downturn and therefore may not tame credit cycles by itself, the time has come for forward looking provisions which when properly calibrated can act as a dependable macro-prudential policy instrument, to hedge against risks in banks’ balance sheets thereby enhancing the resilience of both individual banks as well as banking system as a whole.”......
Demystifying banking jargon
In its efforts to keep inflation under check and spur economic growth, the RBI has a quiver full of arrows that it uses to control the flow of money into the economy.......
Read.......
Economy, banking system and borrowers
......With the inflation levels not relenting at all, the expectation on rate cut seems increasingly a pipedream. But the good news is that the indication of such cuts to be announced by RBI in its October 2012 credit policy seems to be positive. New home loan seekers and existing borrowers can expect some cheer in the coming weeks.......
Government to handle selection of auditors for public sector banks
......The finance ministry is expected to issue a directive on the issue soon. "We are in consultation with key players. We expect to issue the directives in the next few days," the official said. The issue of public sector banks selecting auditors on their own had earlier been flagged by the Institute of Chartered Accountants of India (ICAI), which said the appointments should be done by an independent regulator, such as the Reserve Bank of India.......
Faulty water purifier rectified
......G. Valliswar, editor of the State-owned magazine Andhra Pradesh and one of the schoolmates of the RBI Governor, took up the issue with the MA and UD Commissioner. The students could drink potable water again.
Around 300 students from Jharkhand to take part in RBI quiz
About 300 students from 50 schools of Ranchi, Bokaro, Jamshedpur and Dhanbad would represent Jharkhand in the RBI quiz by Reserve Bank of India......
ATM robbers from Mohali
THIRUVANTHAPURAM: The recent series of ATM robberies in Kollam and Thiruvananthapuram districts caught even the Reserve Bank of India (RBI) off guard as robbers capitalised on a very weak computing system deployed by banks in their ATMs. ......
RBI notifies government’s decision on FDI
The Reserve Bank of India (RBI) on Friday notified the government’s decision to allow FDI in multi-brand retail, civil aviation, broadcasting and power exchanges.........
Gold loans won’t lose their shine despite RBI imposing strict lending rules
......After the Reserve Bank's new rule, NBFCs changed the way gold is valued to include making charges and also tax. This is how it used to work: if the gold content in a piece of jewellery is valued at Rs 100, a loan of Rs 70 was typically possible. Now, to the Rs 100 are added making charges (say, about Rs 10) and the VAT (12%). So, the loan is given on the replacement cost of the jewellery — Rs 123 (Rs 100 + Rs 10 + Rs 13). And 60% of Rs 123 is greater than 70% of Rs 100; so the new norm doesn't look bad......
Fraud-hit emu farming industry flies North
......“Either RBI (Reserve Bank of India) or Sebi (Securities and Exchange Board of India) should be responsible for this. Often they take the cover that it was never brought to their notice. It is all over the newspapers. What more notice do you want?” said R Balakrishnan, a former financial services professional and an independent adviser based in Chennai.......
Peerless Group gets RBI nod to enter consumer loan business
KOLKATA: The Peerless Group has received a new lease of life as the Reserve Bank of India has allowed the group to foray into consumer loan business. Peerless General Finance and Investment Company (PGFI), once a household name for poor depositors in the eastern and the southern markets, ran into a difficult phase with declining earnings after being forced to phase out its deposit-taking business.......
Can you really Bank on them?
......To a Right to Information (RTI) query, RBI has confirmed that 36 banks operating in Kerala have reported banking frauds of over Rs 260 crore......
Loan-some blues
......Should existing customers switch loans now? While the rate cuts sound attractive, do the maths to figure out how exactly a 0.25 percentage point cut affects your loan. Remember, banks have not reduced base lending rates; they have simply selectively cut rates on some loans.......
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