....This is why, along with repo cuts, RBI also needs to infuse liquidity back into the system. Going by the multiplier, BofAML estimates every one rupee injection by RBI, by say buying gilts, leads to a five-fold hike in deposits through credit creation. ..........
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
Tuesday, March 12, 2013
The state of Indian banking sector
Four of India’s top bankers discuss the toughest challenge the banking system is confronting—rising non-performing assets.........
My View on "Age-old problem -- e-age plea................."
By this time you must have read an appeal to the Board member by GS Shri Talekar. It is a fact that many members do not know what is their total loss in pension and what is their monthly loss in pension. Now we have attached here two statistical statements in above both the respect as on 31st Oct. 2012 i.e. the expiry date for 5 years settlement period. As the new settlement of wages would be w.e.f. 1-11-2012, we have to wait till new revision of wages is reached. Kindly pass on this to your friends and also discuss if any problem is felt. What is rightfully due to us has not to be given up. Come what may! With the Bank's stand to give effect prospectively we have no other go to fight the issue in a court of law.
- L R Parab
9-3-2013
Gold as a convenient villain
.It thus appears that controlling imports of gold to rein in CAD is as difficult a task as curbing imports of crude oil. These commodities are structurally inter-linked with different sectors of the economy. Yet another factor that militates against steps aimed at discouraging imports of gold is that this fuels smuggling. The government coffers will be poorer as a consequence.........
IIM-T bucks the trend in summer placement
....RBI participated in the process for the first time and offered roles to students in foreign exchange trading. ICICI Bank, Citibank, PreQuate, Ah!Ventures, IIFCL, and NCDEX recruited students for roles in Finance. ICICI Bank offered different roles, including Corporate Banking and Wealth Management.....
Job applications flood State Bank
.....he would be one among an astounding 1.7 million applicants for just 1,500 probationary officers posts in State Bank of India, the country's largest and government-owned bank. The overwhelming response has surprised the bank management. Usually, it gets 500,000 to 700,000 applications for its advertisements for probationary officers. SBI Chairman Pratip Chaudhuri says the response has been way beyond the management's expectations. He attributes this partly to the "attractive" advertisements, which positioned an officer's job in SBI as an excellent career choice........
With vehicles, woes soar
.........Construction of multi-level parking near RBI building in Sector 17: The process to construct multi-level parking lot in Sector 17, near RBI building, was planned around three years back, but the project is yet to start on ground. MC completed the entire exercise, but forgot to take environment clearance which delayed the project and it is still under process ..........
Fin inclusion won’t succeed without women’s participation
...Over
the last decade, the government has made a determined push for the
economic betterment of rural women. The proliferation of Self Help
Groups (SHGs) and to an extent, government-sponsored employment
guarantee schemes have created employment and brought a greater measure
of financial independence to them. As a next step, greater financial
awareness will help them better deploy their savings.........
Chidambaram: Top contender for PM?
....."He (Rahul) could do a Sonia - heed his 'inner voice' and step aside for someone else," said economist T.C.A. Srinivasa Raghavan, a former Reserve Bank of India consultant. "The only person who meets the bill is Chidambaram. He alone has the seniority and the (political and economic) track record," he said.
Banking on rural presence, Srei looks to set up bank
.........."Srei group is interested in setting up a bank as it can tap the rural presence," Srei Chairman and Managing Director Hemant Kanoria said. "We will go alone in this banking venture and there are no plans to rope in any partners," he said. Last month, Reserve Bank of India (RBI) came out with guidelines for issuing new banking licenses and many private players have expressed interest in setting up banks.........
Macro indicators point to a rate cut in March
.......However, it isn't clear how the deficit data will be interpreted by the Reserve Bank of India (RBI). While one set of economists believe that a widening current account deficit (CAD) may force the central bank to ease rates, another set believes that it may delay easing further........
Do not give up in the battle against inflation
........“Accepting a new normal for inflation not only has no theoretical or empirical support, but entails the moral hazard of policy inaction in dealing with supply constraints. Not a sufficient condition because there is no empirical evidence to establish that the benefits of higher growth outweigh the costs of welfare loss associated with higher inflation,”..............
Don't bank on new bank yet, RBI is moving slow
Do not expect any new bank to come up before next year, as the Reserve Bank of India (RBI) is likely to take at least six months to study the applications it receives for the new bank licences before giving its nod. The central bank has set July 1, 2013 as the last date for filing the applications.......
WHY NEW BANKS?
The RBI has come out with a set of draft guidelines for issuing licence to new banks in the private sector. However, the main question is why the government is bent upon opening up the banks to the private players when there is ample scope to expand PSBs to unbanked rural areas. The swiftness with which the amendment to Banking Regulation Act 1949 was passed in Parliament by the UPA government was clearly aimed at enabling the unrestricted entry of the private sector into the banking domain.
- J.Anantha Padmanabhan, Srirangam (HBL)
Cooling inflation gives some leeway to RBI: Morgan Stanley
............"... I think inflation in India seems to be coming off the boil and that gives some leeway for the RBI to act. But I find, RBI is not the main player out here, the whole issue is that inflation is symptomatic of a wider problem in India,".............
Lending lives to those who rightfully live
........ The new regulations from RBI have helped keeping the sector in check and have kept the interest rates under control. There were institutions which were charging high interest rates earlier but now owing to regulations, interest rates are moderated..............
Banks' borrowing crosses Rs 1-lakh-cr on tight liquidity
.............“It is the start of a new fortnight. Banks have started building their cash reserve ratio (CRR) requirement before the advance tax outflow happens. It is expected that the outflow on account of advance tax payment will be Rs 60,000 crore,” ............
CLSA's Wood reduces position on India
.....“The only consolation from the negative growth data is this, at least in theory, increases the chances of inflationary pressures subsiding. Therefore, RBI (Reserve Bank of India) will have room for more rate cuts,” the report said. CLSA predicts RBI would cut the policy rate by 75 basis points by the end of this financial year......
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