.......It is also proposed to present the Nilgiri Conservation Award to K. C. Chakrabarty, Deputy Governor of RBI and M. Narendra, Chairman and Managing Director of Indian Overseas Bank for the innovative and successful financial inclusion plan for the primitive tribes of Nilgiris.
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, April 16, 2013
RBI meet in Mangalore
.....A press release said here that RBI will conduct a ‘town hall meet’ for the benefit of customers of various banks at the auditorium of the corporate office of Corporation Bank in Mangalore at 11.30 am on April 16. K.C. Chakrabarty, Deputy Governor of RBI, will be present.......
A missed opportunity?
It is well known that the public sector banks are going to see the full impact of a demographic transition over the next few years. With recruitment numbers having dropped off sharply since the liberalisation process got under way in 1991, large-scale retirements of people hired during the 1970s and 1980s will leave large gaps in the organisational structures of these banks. Now, one way of looking at this is that it presents a significant opportunity to restructure these entities ..........
‘Cash’ in on this numismatic’s collection at Pune Heritage Week
.....Tole has collected over 10,000 currency notes and 25,000 coins from 220 countries. He will be displaying them on Thursday at Raja Dinkar Kelkar Museum as part of the ongoing Viraasat Pune Heritage Week organised by Janwani. Tole said he had collected not just coins and currency notes, but also proof sets both from within India and abroad. .......
Fear crashed gold. Now be greedy, not stupid
..........They say three great forces rule the world: stupidity, fear, greed. Gold’s crash was triggered by fear. Now, you would be stupid not to become greedy.
RBI working on improving on housing finance database
........"The Reserve Bank is also developing a housing asset price monitoring system covering such details as LTV ratio, EMI to income ratio and price to income ratio based on housing loan data from select cities collected from select banks and HFCs." Said Deepak Mohanty, Executive Director, RBI at an international seminar orgainsed by the National Housing Bank last week. .......
Private banks don’t help financial inclusion
......That, of course, means that even if profits are positive, they are much lower than what would be earned if financial inclusion was not an objective. To expect private banks to settle for this lower profit margin and rate is to forget the nature of private incentive. It is only by presuming that private operators will not behave like private operators and have changed character since the 1950s and 1960s that the entry of the corporate sector into banking be seen as an instrument to advance financial inclusion........................
All in the bank
..............Suspicion has been raised from time to time that West Bengal is insufficiently served by banks and that it is the fault of the Central government that owns most banks. Now the Reserve Bank of India has published some statistics relating to bank branches which enable one to derive some crude indicators that can throw light upon the question. West Bengal’s population in 2011 was close to 7.5 per cent of India’s in 2011; the proportion is unlikely to have changed much since. Its gross domestic product in 2011-12 was roughly a 15th or 6.7 per cent; the average Bengali is a bit poorer than an average Indian, but not much ..............
ASSOCHAM favours initially ten new banks
.......... “Considering the uncertainties/volatilities associated with current business environment, RBI may consider giving out licences in a staggered manner to few players in a specific time frame. It could be a process, and not an event..........
M&M Financial Services keen to enter banking space
......Mahindra and Mahindra Group believes that it meets most of the criterion set out by the Reserve Bank of India for bagging a banking licence and is quite excited at the opportunity of floating a bank, said a top official. “We believe we qualify on most of the parameters set out in the guidelines like high credentials of the group and well-run financial services business, which has been profitable all through.......
A solo financial regulator
........ In fact, there should be complete cohesiveness between the Reserve Bank of India, the Securities and Exchange Board of India and the Insurance Regulatory Development Authority..............
Rate cut in May for sure, but how much?
........It’s now fairly certain that the Reserve Bank of India (RBI) will go for a policy rate cut in May to prop up slowing economy, even though RBI governor had said in his last policy that the scope for monetary easing is limited. The question is: will D. Subbarao stick to his ‘baby step’ of a 25 bps rate cut or show boldness by combining it with a cut in banks’ cash reserve ratio (CRR)—the portion of deposits that commercial banks need to keep with RBI—by an identical margin?..........
RBI should take a call on rate cuts: FM
Finance Minister P Chidambaram has again made a pitch for lowering interest rates. Speaking to Business Standard here on Monday, he pointed to the latest inflation numbers to make his case. "Both core inflation and WPI inflation have come down for the month of March, CPI is down to 10.4 per cent, so these are indicators. I think the RBI governor will take note of the fact that core inflation, WPI inflation and CPI inflation have all come down and he will take a call.".........
RBI has leeway for a 50bps repo rate cut
..........Markets should not rule out a 50 basis point (bps) repo rate cut that day, though the RBI had sounded caution on further cuts in its March policy review where it cut the repo rate by 25 bps. At that time, the central bank was worried on food inflation, which was trending at 11.38%, leading to higher consumer price inflation and current account deficit (CAD) hitting record high levels. RBI’s concern on inflation and CAD remains, but indications are that both the measures are likely to trend down, going forward............
BS POLL: 25 bps rate cut buzz gains momentum
............. “We think RBI will support an easing monetary policy bias in the next few months. Consequently, we expect the central bank to cut the repo rate by clips of 25 basis points in the next two policy meetings (May and June),”..........
New law restricts securitisation in MFI
The microfinance industry saw 13% rise in deals involving sale of portfolio through securitisation and other bilateral transactions last financial year. However, the year-end Budget proposal to tax the special purpose vehicle (SPV) involved in the deals held back a number of deals. In addition, the new Reserve Bank of India (RBI) guidelines on securitisation and direct assignment of loan receivables restricted the number of deals...........
Chidambaram should say in US it’s time to invest in the India story
........ For investors, there is no best time to jump into India. Chidambaram should remind the people he meets about Nathan Rothschild's advice to "Buy when there is blood on the streets."
Bank that encourages women entrepreneurs
........In all probability, the bank would be a pleasant reality given the fact that it will receive an initial capital of Rs 1,000 crore. Given that it would be a PSU bank, it would not need to be issued a special license by the RBI. In fact, we have woken to the reality quite late as our neighbour Pakistan already has one, running successfully for the last fourteen years with 38 branches across the country...............
J&K Bank bags Europe Business Assembly award for best enterprise
Jammu and Kashmir Bank, the only listed company of the state, has bagged the prestigious Best Enterprise award from the Europe Business Assembly (EBA) in London, a bank spokesman said on Monday. The spokesman said that the award has come as a strong international recognition for the bank’s enterprising performance in the field of banking and finance.......
SBI in talks with Vodafone for last-mile link to unbanked
The State Bank of India (SBI) is in talks with Vodafone India to make the UK-based telecom company its last-mile agent offering basic banking facilities to unbanked regions in the country, a person familiar with the discussions said.........
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