RBI's robot service to answer queries

PATNA: Have you recently received any message on your cellphone or e-mail that you have won a big prize? Better consult Junior before claiming the prize money. Junior is the new interactive robot, launched by the RBI here on Friday, which organizes its own 'Pathshala' to make people "financially educated"...........

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Mint’s capacity constraint puts the squeeze on coins

The Reserve Bank of India cannot start phasing out lower denomination notes in favour of coins until the mint increases its capacity to produce more coins, a top apex bank official said. Although the RBI has been pressing for coins in place of lower denomination notes (including ten rupee notes), because coins last longer, the phase out will have to wait till the mint cranks up capacity, said RBI deputy governor K C Chakrabarty.............

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Poor rupee seems to make the rich richer

....The country's macro and micro- economic indicators are a major concern of the exchange market because of the economy's heavy dependence on imports which is growing by the day. The total annual servicing cost of external commercial borrowings and trade and balance of payment deficits far outweigh the Reserve Bank's foreign exchange reserves, which are under constant pressure from increasing import demand and frequent profit booking by FIIs in the volatile stock market. There is no immediate hope for the rupee's revival, unless........

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RBI guv's dim outlook nudges Rs the wrong way

........The RBI governor’s remark is an obvious pointer that the government needs to curtail its expenditure to bring down the deficit, keeping aside the politics of subsidy and other populous non-plan expenditure. “Managing the politics of fiscal consolidation is the real challenge, especially in India’s vigorous and vast democracy,” he added. Earlier, he had also said that.............

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Rating downgrade risks have abated, says Urjit Patel

..........“Domestic growth for FY14 is expected to come in at 6.1-6.7 per cent,” said Urjit Patel, deputy governor of RBI, addressing investors at Nomura’s two-day conference that concluded on May 29. Patel ascribed the current slowdown in domestic growth to weak export growth, widening trade deficit and a weak rupee............

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Classroom Coaching Institute For RBI Assistant Exam 2013

Crash Course Classroom Coaching Institute For RBI Assistant Exam 2013 In Kolkata.................

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Religare's banking bid under Ranbaxy cloud

The promoters of Religare Enterprises will face an uphill task in satisfying the ‘fit and proper’ criteria prescribed by the Reserve Bank of India (RBI) for new bank licence applications, due to the various troubles of Ranbaxy, their earlier venture, with the US drug regulator...........

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RBI to clarify on new bank licensing norms on June 3

..........RBI said it had received a large number of queries from the aspirants seeking clarifications on the guidelines. ""The queries have since been examined and the clarifications would be posted on the RBI website on June 03, 2013,"" it said...........

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Another headache for banks: Bad loans to surge as RBI tightens recast norms

.........To discourage banks from liberally restructuring loans, RBI has said that from April 2015 an account will have to be classified as sub-standard as soon as it is restructured. A standard asset on restructuring would be immediately classified as sub-standard as also non-performing assets. Any recast will push the loan account into further lower category unlike the existing norms wherein standard loans are allowed to retain their status on restructuring. Non-performing accounts too are currently allowed not to deteriorate further in asset classification, which are generally of four types: standard, sub-standard, doubtful and bad assets............

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RBI's new provisioning norms are badly timed

..........From a bank’s point of view, they are keen on protecting depositors’ money. But such stringent norms have only led to proliferation of ‘parallel banking’ where the players have their own ways of loan recovery. ............

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Check before depositing money with NBFCs: RBI

.........In the latest one, RBI has warned not to fall prey to fictitious offers promising unsustainable returns by individuals, unincorporated bodies and companies. Currently, the maximum interest an NBFC can pay to a depositor should not exceed 12.5 per cent. The RBI keeps changing these rates, depending on the macro economic environment............

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Only government policy can get the economy out of a rut

..........What is increasingly evident is that the key determinants of a big turnaround are going to be the Union and state governments. Sensible policies and timely clearances will do more to improve sentiments and attract investment than looking towards RBI for a miracle. 

Read - Business Today

RBI to have more space for pro-growth policies, says PM

..............In what could be a clear signal to the Reserve Bank of India (RBI) ahead of its mid-quarter monetary policy on June 17, Prime Minister Manmohan Singh said today he believed the central bank would have more space available to pursue pro-growth policies, as inflation was coming under greater control. Asked whether RBI was behind the curve in the growth versus inflation dynamics, Singh said he "respects the judgment of the central bank, which decides the monetary policy. But...........

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The 5% GDP problem: RBI can’t solve it, ball in Chidu’s court

..........Subbarao, who did play ball with the government over the past few monetary policy reviews by cutting the benchmark repo rate thrice since the beginning of 2013, seems to be saying that given the looming risks to the economy, RBI has done whatever it could, but could not be expected to continue its monetary easing policy if risks mounted. And Subbarao is dead right..........

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Banks get more time to complete customer code processing

...........The extension till March 31, 2014, comes in the wake of some banks expressing difficulties in implementing UCIC for their customers, for various reasons. The RBI, however, reiterated that UCIC should be allotted to all customers while entering into new relationships...........

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RBI directive to banks on TDS

..........“ Despite submission of Form 15-G/15-H by customers, banks are deducting tax at source, at times. Such instances arise because either the forms are misplaced or a track is not kept of forms received in the branches,” the RBI said in a notification..........

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ICICI Bank offers over 20% salary hike to top management

ICICI Bank, India's largest private sector bank, has proposed a pay hike of over 20% to its top management team just months before issue of new bank licences to corporate houses by the Reserve Bank of India. The board of directors have rewarded Chanda Kochhar, the managing director and chief executive offer of the bank with a 20.75% salary hike to Rs 5.12 crore in 2013. The board has also decided to raise the minimum and maximum range of monthly supplementary allowance for Kochhar to Rs 10-18 lakh from about Rs 8.70 lakh per month............

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IIMK workshop for bankers

......The objective of the leadership clinic was not to teach banking to the bank veterans with 30-35 years of experience, but enabling them with alternative dimensions of leadership and how these leadership qualities can be put to better use........

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The home loan dynamics

Every borrower’s eyes are always fixed on the RBI policy and the interest rate, particularly while taking home loans because every per cent saved leads to several hundred rupees of saving hard-earned money. The RBI, on its part, keenly watches the inflation levels. It is good news when the inflation subsides for the economy as a whole as also for those who seek borrowings at cheaper rates..........

Read | The Hindu