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Tuesday, November 5, 2013
Boosting Apex Bank's Balance Sheet - M.G.Warrier
Nachiket Mor likely to be appointed RBI Deputy Governor: report
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Raghuram Rajan's man Friday |
New Delhi: Nachiket Mor, once tipped to head India's largest private sector lender ICICI Bank, is likely to be appointed as a Deputy Governor of the Reserve Bank of India in 2014, the Business Standard reported. Mor, 49, is currently a director of the central board of the RBI. He was appointed to this post in May earlier this year. Following his appointment to the RBI, Mor has been given major responsibilities........
Why exclude PSBs?
RBI may have more role for Nachiket
This refers to the report "RBI may have more role left for Nachiket" (November 4). Though Nachiket Mor's credentials are excellent for the Reserve Bank of India's financial inclusion panel, the absence of any public sector bankers in the panel is surprising............
This refers to the report "RBI may have more role left for Nachiket" (November 4). Though Nachiket Mor's credentials are excellent for the Reserve Bank of India's financial inclusion panel, the absence of any public sector bankers in the panel is surprising............
Perks - Employees should have the freedom to decide
My View on "Give Civil Servants Cash, not LTC":
The temptation to convert perks into hard cash by foul means is not a phenomenon unique to civil servants enjoying LTC. Your edit has nailed a malady which has spread into the entire remuneration and compensation system in the organised sector across public and private sectors and the legislators. Depending to the specific payment you refer to, justification will differ from tax issues to industry comparisons and legal constraints to employee preferences. One wonders why government and employers feel so shy about transparency in the payments they make. Limiting comments to the perks issue, government should consider the option of including this issue in the Terms of Reference of VII Pay Commission asking the Commission to structure the pay scales keeping in view the range of Cost to Company (Govt) per employee in each category. Pay and all allowances including government expenditure on housing, healthcare and retirement benefits should be factored in C to C. The employees should have the freedom to decide the ratios of various perks they would like to enjoy within their overall eligibility.
- M G WARRIER, Mumbai
NEED OF THE HOUR ?
I feel that even our Chairman Sh. S.K.Roy is also helpless in this matter since he is supposed to obey the orders of current FM who is known to be insensitive to sufferings of aged LIC Pensioners. FM's fear is that Pension Upgradation if granted to LIC Pensioners will have to be passed on to Banking, General Insurance as well as RBI Pensioners i.e. entire Financial Sector for which he is not ready at all............
Yet to Play The Game!
.........Surprisingly, RBI has most of the times talked about opening more banks as part of financial inclusion, overlooking the potential of India Post. Even a few days back, RBI governor Raghuram Rajan stated, “Easier entry of foreign banks into India is welcome. This would raise competition and efficiency and bring in technology and expertise to foster financial inclusion.” But in reality, without considering India Post as a tool for financial inclusion, it will be very difficult for India to achieve its vision of including the masses..............
Private interest litigation
.............Apart from the Court ruling that allegations of mala fide are no good unless there is actual proof of such mala fide, the larger point is that highly paid professionals do take up government jobs, either for the prestige attached to them or in order to serve a larger cause. While UIDAI chairman Nandan Nilekani is an obvious example, a more recent example is that of RBI Governor Raghuram Rajan. If every government action is going to be the subject of PILs, it is difficult to see how the government can possibly run............
Why RBI is a failed doctor
..........Basic problems of the economy are bleeding of Government revenues via leakages and corruption; increased consumption by Government servants and spending for buying of votes; and using foreign investments for meeting consumption needs. The RBI is helpless. Inflation will be controlled but economic growth will suffer if it increases interest rates. On the other hand, growth will be helped but inflation will increase if it lowers interest rates. The RBI is trying to find a middle course between these twin problems. This is like a doctor trying to find a middle treatment for a patient suffering from diabetes, asthma and typhoid at the same time................
Read.............
Reserved bang
............Rajan is known to ruffle feathers with his undisguised criticism and sharp, spot-on analysis of economic situations. He correctly predicted the global financial crisis as professor at the University of Chicago Booth School of Business three years before it toppled economies in 2008. Before he was appointed the chief economic adviser to the government, Rajan had severely criticised the government's performance at a book launch in Delhi. His one-year stint as economic adviser was seen as an apprenticeship before the real job at the RBI................
Battling unintended consequences
................Then there was the push to encourage more foreign borrowing by Indian companies in the run-up to the financial crisis, despite the concerns of the Reserve Bank of India (RBI). Managing the sizeable capital inflows was already a challenge, and the central bank was also raising local interest rates to check inflation. Going abroad offered a convenient and cheaper unhedged option for companies, since they expected the rupee to continue to appreciate. Former RBI Governor Y V Reddy put a stop to the borrowing binge in 2007. That action, for which he was severely criticised, singularly prevented more painful fallout from the global financial crisis. But it did not prevent the inadequate preparation for dealing with the pressure of maturing external liabilities a few years later.............
We intend to bring inflation down
.........We talk to people at the finance ministry every day. The lines of communication are open and they were open before also. I don't think the image of the RBI and the finance ministry not communicating is a fair one. But whether we are on the same page on everything is a valid and legitimate question. There are some issues on how we will achieve the common goal of growth and controlling inflation. But the timeframe to achieve that can be different. On many issues, whether it was the RBI under Dr D. Subbarao or the RBI today, I don't think there was a lack of communication or a lack of agreement. ..........
Rajan rules out rate target, inflation key concern
.......The new RBI governor has once again said inflation-busting is the key objective of the monetary policy, especially at a time consumer price inflation has resolutely stayed above 9 per cent. The subtle, nuanced shift in the recent monetary policy statement by highlighting consumer price inflation rather than that measured by the wholesale price index (WPI) has sparked speculation that the RBI may raise interest rates once again. Rajan admitted that as the RBI hunkers down and tackles inflation, “there may be more of a growth sacrifice”........
Despite the downturn, banks preferred choice of many job aspirants
........."Indian banks have immense potential," says Priyadarshi. "Because of their global outreach and size, they are exciting to work for. They provide excellent working conditions and learning opportunities, attractive compensation packages, friendly work environment, online learning and more." .......
RBI may allow gold loan NBFCs to increase loan-to-value ratio
...........Muthoot Finance lost several loans valued Rs 1 lakh to Rs 2 lakh to banks after RBI insisted that loans above Rs 1 lakh should be disbursed only in cheques. “Such loans are largely disbursed to traders and small entrepreneurs who are in need of instant cash for emergencies,” KP Padmakumar, executive director, Muthoot Finance had said while talking about the September quarter results.
Top 30 NPAs form one-third of total bad loans
..................Reserve Bank of India Governor Raghuram Rajan had last week sent out a clear message that willful defaulters would be dealt with strongly. Asserting that the finance ministry and RBI were on the same page when it came to recovery, he had stated that this is not being said to create an atmosphere of fear or to be vindictive.......
India’s banks will struggle for growth as economy slows
............And things do not look like they are going to improve any time soon. With a sluggish economy and persisting policy bottlenecks, the chances of companies taking on more loans to expand business are low. If the RBI is unable to reduce rates for a protracted period, given currency declines and high inflation, Morgan Stanley predicts that bad loans will increase by more than 4 per cent to 5 per cent over the next two years, and several companies might be forced to restructure their loans. State-owned banks are running mostly with stretched balance sheets and net impaired loans at some of these banks are now almost 100 per cent of equity,..............
Rupee to trade in 62-63 range without RBI measures: Assocham
The rupee is unlikely to fall below 63 to a dollar even if the Reserve Bank of India (RBI) withdraws temporary measures such as direct sale of dollars to oil importing companies and the foreign currency non-resident (FCNR) swap facility put in place to support the currency, as speculative activity around it has mostly ebbed in the foreign exchange market, according to a paper released by the Associated Chambers of Commerce and Industry of India (Assocham)................
ISLAMIC BANKING: Need of the hour
.......The position of former governor of RBI D.Subbarao regarding Islamic Banking was not favourable but newly appointed governor of RBI Dr. Raghu Ram Rajan has already given green signal to Islamic Banking in India by giving affirmation to Kerala by setting the stage for starting up the first Islamic non-banking finance company (Al Barakah Financial Services Ltd) in India with the partnership of state government department (Kerala State Industrial Development Corp-KSIDC). My memory is still afresh with...........
Rajan's two-tier coal pricing idea gets Plan panel support
The Raghuram Rajan plan for a dual pricing of coal has found support in the Planning Commission. The Commission has asked the Prime Minister's Office to introduce two-tier pricing of the fuel that could be operated within the framework of the current fuel supply agreements (FSA) India's public sector Coal India (CIL) is now signing up with thermal power companies..........
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