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Wednesday, December 26, 2012
Roti, kapda, makaan and bank account
.........This leads us to the question of financial inclusion. With over half the Indian population still excluded from the nation’s formal financial system, the need for several strategic steps is imperative. Numerous steps have been taken in the six years since the government initiated the process of financial inclusion in a big way. The Reserve Bank of India (RBI) has recently mandated Regional Rural Banks (RRBs) to ensure that one-fourth of their proposed expansion is in unbanked parts of India..............
चिल्लर पर चिकचिक खत्म, अब मत लीजिए खुल्ले के बदले टॉफी!
इंदौर। आरबीआई ने इंदौर की सात बैंकों को करीब 50 लाख के सिक्के भेजकर इन्हें तुरंत जनता तक पहुंचाने के निर्देश दिए हैं। साथ ही यह चेतावनी भी दी है कि यदि कोई बैंक सिक्के बांटने में लापरवाही करता है तो उसके खिलाफ सीधी कार्रवाई की जाएगी।
चिल्लर के बदले टॉफी नहीं चलेगी
शहर में चिल्लर के बदले टॉफी-चॉकलेट देने की समस्या पर ‘भास्कर’ ने अभियान चलाया था। आरबीआई के अनुसार इंदौर में स्टेट बैंक ऑफ इंडिया की स्कीम नंबर 54 एबी रोड ब्रांच को 6 लाख, जीपीओ ब्रांच को 5 लाख और वायएन रोड ब्रांच को 7 लाख रुपए के सिक्के भेजे हैं। इसी प्रकार आईसीआईसीआई और एचडीएफसी को दस-दस लाख और बैंक ऑफ महाराष्ट्र बैंक को 3 लाख रुपए के सिक्के बांटने के लिए भेजे गए हैं। भास्कर’ को जानकारी देते हुए आरबीआई भोपाल के मैनेजर राजीव नारंग ने बताया कि समस्या से निपटने के लिए अभी तक आरबीआई ने बैंकों को पूरे प्रदेश में करीब 40 करोड़ रुपए के सिक्के बांटने के लिए भेजे हैं। कोई भी लिंक ब्रांच अपनी करंसी चेस्ट ब्रांच से जरूरत के मुताबिक कभी भी सिक्के की मांग कर सकती है। लगातार जो सिक्के भेजे जा रहे हैं उन्हें बांटने में यदि बैंक पारदर्शिता या उत्साह नहीं दिखाते हैं तो शिकायत मिलने पर कार्रवाई की जाएगी। नौ लाख के सिक्के जिले के ग्रामीण क्षेत्रों की बैंकों को दिए गए हैं। अधिकतर जगह शुरू हुआ वितरण- एसबीआई के डिप्टी जनरल मैनेजर अनुकूल भटनागर के अनुसार जीपीओ, वायएन रोड, स्कीम नंबर 54 ब्रांच में सिक्के बांटना शुरू कर दिए हैं। जरूरतमंद सिक्के ले सकते हैं। आईसीआईसीआई के स्थानीय अधिकारियों के अनुसार मालव परिसर ब्रांच से बैंकिंग समय में सिक्के प्राप्त किए जा सकते हैं। बैंक ऑफ महाराष्ट्र के सीनियर प्लानिंग मैनेजर आरके अठवासिया के अनुसार सभी ब्रांचों में सिक्के भिजवा दिए हैं। ग्राहक किसी भी ब्रांच से सिक्के ले सकते हैं। इसी प्रकार एचडीएफसी की भी विभिन्न ब्रांचों से सिक्के प्राप्त किए जा सकते हैं। ‘आरबीआई ने ग्राहकों से यह भी अपील की है कि वह किसी भी हालत में खुल्ले के बदले जबरन दी जाने वाली वस्तु को स्वीकार न करें क्योंकि बाजार में चिल्लर की कोई कमी नहीं रह गई है।
सिक्के नहीं मिलें तो यहां करें शिकायत
रीजनल डायरेक्टर मप्र रिजर्व बैंक ऑफ इंडिया होशंगाबाद रोड
पो.बॉ. 32, भोपाल- 462011, फोन नंबर- 0755-2552242, 2553179
फैक्स-0755- 2578299, ईमेल- rdbhopal@rbi.org.in
Kochi to reel under coin shortage
.....If the coin counter at RBI is closed, bus services, supermarkets, retailers and hotels and restaurants will be badly hit as most of them depend on the RBI counter for coins and currency of small denominations. “Private bus services will be the worst hit as only very few passengers tender the exact change. The RBI should withdraw the decision”, said Private Bus Operators Association president M.B. Sathyan. The RBI Kochi office, with five public counters, has been dispensing coins of Rs 1, Rs 2, Rs 5 and Rs 10 to the public. “Due to shortage, distribution of Rs 5 coins has been restricted now. All other denominations are available every day.....
ATMs run out of cash, tourists left in the lurch
.......Anantakrishna, a tourist from Mysore, appeared upset about the “casual behaviour” of some of the bank authorities. He said that a group of tourists from Mysore had come to Karwar and were planning to proceed to Goa to celebrate Christmas and the New Year. But they were stranded in Karwar as the ATMs had gone dry. “Banks must take extra precaution to keep the ATMs in order when the tourist density is high,”.........
KVG Bank opens 25 ultra-small branches
Karnataka Vikas Grameena Bank (KVG Bank), Dharward-based regional rural bank (RRB) sponsored by Syndicate Bank, has opened 25 ultra-small branches in a single day under the Financial Inclusion (FI) programme in north Karnataka...........
Banks to be told to cut exposure to big firms
.....The Reserve Bank of India (RBI) is working on “restricting cash credit and working capital” lending by banks to the top listed companies to 90 per cent of the current levels, an official source told The Indian Express. For the 10 per cent companies will have to issue bonds that banks will initially subscribe to..........
Who is more worried - RBI or license hopefuls?
..........Given the strict guidelines, reporting requirements and regulations in present times, it would be the banking license hopefuls that would be more worried, as compared to the RBI. But at the end of the day, we believe that these developments would only make the really serious hopefuls of attaining such licenses as opposed to those players who just think of this opportunity being a chance of value unlocking.
Read.........
New banks
...... I disagree that the passing of the Banking Laws (Amendment) Bill in the Lok Sabha would herald a new era in the Indian banking system. The government’s recent step will cause much harm to public sector banks. It may be recalled that.........
Both Finmin and RBI want banks to shed their non-core business
.......As the collapse of Lehman Bros, an investment bank has shown, non-bank businesses can also become large enough and inter-connected enough with the banking business as to have adverse systemic consequences in case of failure. This is the reason why the RBI, in its draft guidelines for new bank licences, has urged a different organisational structure for banks. Under the proposed structure, rather than banks spawning subsidiaries for related activities, these activities would be done by subsidiaries of a holding company that would also have a subsidiary banking company. Now for once the finance ministry and the RBI would seem to be on the same page.
Core banking
With reference to “Exit non-core biz to help conserve capital, FinMin tells banks’, (Business Line, December 24), it is heartening that, even though belated, the Ministry has called upon PSBs to concentrate on core banking businesses and come out of non-core functions. Of late, banks are engaged in ventures such as mutual funds, insurance, investment, equity broking, pension fund management, and so on, in partnership with private and foreign companies. Bank customers are often lured into these schemes, without being educated about the risks involved. Cash incentives, foreign tours, promotions and pressure from higher-ups force bank officials to sell the non-bank products to the customers. In many cases, customers have lost money. Banks reputation is at risk. Conserving capital without allowing leakage through these non-core banking operations will benefit the PSBs and its customers.
- K. S. Krishna, Kochi (HBL)
Smaller private banks in fight for survival
....India’s smaller private banks face a dual threat—competition and consolidation. This became a little more real earlier this month, when Parliament amended a law that will allow the central bank to supersede bank boards. The Reserve Bank of India (RBI) had wanted this safeguard before issuing new bank permits. While that—new bank licences—is still some way away, the smaller private banks know they need to grow to a more respectable size, and even the central bank has said so.........
Banking bill: A test case for consolidation
.......The bill has dropped a controversial clause which would have allowed banks to enter into forward trading, but paves the way for a greater banking presence in the rural areas. More banks in rural India will also mean more job creation, the government says. The bill will also sooner or later pave the way for consolidation in the banking space with the entry of some large players, a fear which has drawn opposition and ire from bank unions in equal measure. According to Venkatachalam, India needs expansion of its banking sector, not consolidation.
Worst probably not over for banks
....Around 17-20 per cent of restructured standard advances have become non-performing assets (NPAs). The Reserve Bank expects the ratio to increase to 30 per cent in a worst case scenario.
Game changers in the banking sector
The banking bill and the fast forward for Aadhaar are two forces which will shape the Indian banking industry from the New Year. Each is a game changer. Both of them introduce competition for the sector at a pace that has not happened for a long time..........
Risky futures that banks can do without
...........By and large, Indian banks (public and private) lack the market knowledge and the expertise to benefit from trading in commodity futures. The Reserve Bank of India (RBI) has also expressed concern at the risks posed by domestic banks that lack the expertise and skilled manpower to deal with such risky trading instruments...............
Tax-free bonds are flopping: Rich say ‘no’ to cheap money
Every time Finance Minister P Chidambaram finds himself cursing the Reserve Bank of India (RBI) Governor for not cutting interest rates, he should ask himself whether the latter is more sinned against than sinning..............
2013: P Chidambaram's year
.....An aside, Mr Minister: it is truly astonishing that at a time of high inflation and barely positive real interest rates all the expectation is for the Reserve Bank of India (RBI) to cut interest rates next month. You, Mr Minister, have of course contributed to this in conveying publicly your desire to see lower interest rates. You feel that you and the government have done your bit for growth and now it is time for the RBI to contribute its share. But the government has not done enough – in fact barely anything – towards reducing the inflationary pressures; nor, indeed, towards addressing the broader macroeconomic balances in the economy.......
Turning realistic on growth rates
.... The real problems lie on the supply side, which can be resolved only with structural reforms. Thankfully, government agencies began coming around to this view. The committee headed by Vijay Kelkar did some welcome plain speaking. “India is on the edge of a fiscal precipice,” it warned in the very first sentence of its report. RBI said the potential growth rate of the Indian economy—or the growth that it can sustain without setting off high inflation—was now down to 7.5%, around one percentage point lower than what it was in the boom. Private sector economists argue that it may have come down even more, a fair assessment since India has signs of excess demand even when growth is around 5.5%.......
Banking On Growth
.....According to Dun and Bradsheet Inflation continued to remain sticky and much above the RBI’s comfort zone throughout the year. In fact headline inflation as measured by WPI remained above 7.5 per cent from February to October 2012. As a result the RBI has kept the repo rate at an elevated level reducing it by 50 basis points only once during 2012, in April-12 to support growth.............
Nationalized Banks vs Public Sector Banks
Recently one of our readers sent me an interesting question : What is is the difference between nationalized banks and public sector banks? I had to pause for few moments and tried to assimilate so that I can answer the same in few sentences. Soon I realised that it is not that simple to make this understand to a young student who does not have a background of banking history. May be even most of the bankers will fumble for words if they are asked this question..........
Indian Economic Association conference begins tomorrow
Chairman of the Economic Advisory Council to the Prime Minister and former Governor of RBI C. Rangarajan along with other noted economists like Dr. Vijay Kelkar and Prof. C.H. Hanumantha Rao are participating in the 95th annual conference of the Indian Economic Association being organised at the GITAM University here from December 27 to 29.........
Gold comes under attack from govt & RBI, but continues to shine
...........To discourage import of gold, the government doubled import duty, while the Reserve Bank put curbs on banks' investment in gold finance companies. The government raised the import duty on the precious metal to 4% from 2%.............
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