........As per official figures released last year, NRKs sent a staggering total of over Rs500 billion (Dh33.6 billion) to banks in Kerala during the 2011-2012 fiscal year. Most of this was from Malayalees employed in the Middle East. The NRK Affairs Ministry in the state has already announced plans for floating development project bonds for NRKs and is reportedly in contact with the Reserve Bank of India to explore the possibilities of opening an exclusive bank for them.......
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Ideas can not only ‘change your life’, but can destabilise financial sector!
An All Women’s Bank from FM, another NRK(Non-Resident Keralites) Bank from Government of Kerala, probably an ‘All Kids’ Bank’ from someone else…what next?
This is what RBI Governor told ‘Weekly’ in Mauritius:
“You need to improve your domestic savings in order to reduce dependence on foreign savings. You need to generate domestic savings. For that you need to have a competitive and efficient banking sector which can give a higher rate of return to the savers but at the same time give competitive rates of interest to the borrowers. That means that the net interest margins of the banks must be small. In other words, banks must be more effi cient in financial intermediation. If you accept that improving domestic savings is a challenge, the remedy lies in the banking sector becoming more efficient.”
Are these ‘ideas’ in conformity with Governor’s view?
Please remember that only crying baby gets milk.That is the situation prevailing and there is nothing special about the demand.
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