Don’t doubt RBI desire to fight inflation, reassures Raghuram Rajan

"........Nobody should doubt our desire to fight inflation and our belief that interest rates are our main tool that we have. Nobody should doubt that,........

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From eatery to meetup, entrepreneurs increasingly accepting 'bitcoins' in India

.....While bitcoin gains in popularity in India, entrepreneurs and investors say they are concerned about the RBI's stance on the digital currency. In August, ET had reported that RBI was "watching and learning" about bitcoins. On Tuesday, the RBI made clear its displeasure with virtual currencies, including bitcoin, saying they pose "significant financial and security risks". In a statement, RBI said bitcoin payments are not authorised by any central bank or monetary authority and that it...........

Read - ET...

RBI issues cautionary advice on virtual currencies

.....In its cautionary advice, the Reserve Bank said it has been looking at the developments relating to certain electronic records claimed to be “Decentralised Digital Currency” or “Virtual Currency” (VCs), such as, Bitcoins, litecoins, bbqcoins, dogecoins etc., their usage or trading in the country and the various media reports in this regard........

Read - HBL

VITALINFO - moment for joy

Dear Mangesh:

This is to convey our very best wishes to your son Harshal and his bride Vishakha for a joyous wedding and a wonderful marriage. Urmila and I wish them happiness and fulfillment as they start their journey together and pray that their union will be blessed with harmony, love, trust and understanding. This must be a fulfilling moment for you and your entire family.  Our congratulations to you on this happy occasion. Enjoy the fun and joy of the wedding celebrations.

- Subba (former Governor)

Dear Mangesh,

That was great news indeed. Much as I would have loved to view the maiden being bowled over by Chi Harshal, time, distance and pressure work deny me the pleasure of being with you all on the happy occasion. Our best wishes to the lovely couple and may they be healthy, prosperous and full of Joy - forever!! Best wishes

- S Ganesh Kumar

Dear Mangesh, I am very happy to hear the news of your son.  I am also very eager to attend the wedding but since my children are landing on the same day, i will not be able to join you on this joyous occasion.  May God bless the couple with all happiness throughout their life ahead. My best wishes to you and your family for the occasion.  My blessings to the couple also. With Warm Regards

- Pushkala Ranganathan

Dear Mr Tarambale,

Hearty congratulations on the eve of your son's wedding. My best wishes for Harshal and Vishaka for a long, peaceful, prosperous and happy wedding life. Best wishes to you and regards, Merry Christmas and very Happy new Year 2014.

- Yerram Raju

Dear Mangesh,

I am very happy to have your high tech invitation for your son's marriage. It is a very happy and wonderful occasion to rejoice and enjoy but  due to some personal inconveniences I am not able to participate physically. I wish the couple a very happy, prosperous and long married life. May God bless the couple always and in all ways for their blissful and long married life. 

– Dr.T.V.Gopalakrishnan

Dear Taramble ji, I am very happy to see that Harshal is getting married. Thanks for the invitation (the concept of e-card, with all minute details,  seems to be very innovative to me, and I like the way it is presented. Congrats to you and Ninad for the concept and execution). Our Blessings to the couple. I will try to attend the reception at Pune.

– Shrimohan Yadav

Dear Tarmbaleji, Hearty greetings!! Many thanks for the invitation. Unfortunately, it would be difficult to make it since I would be elsewhere due to an official work during that time. Our best wishes to Harshal on the happy occasion.Regards, -

- V G Sekar General Manager Jaipur

Thanks Tarambale for the marriage invite. As I will be travelling to Bhopal for a vacation and returning only on the 30th night, I will not be able to grace this auspicious occasion. However, we wish the young couple the very best in their married life. Please convey the same to them.
Wish you also all the best for the successful completion of the function.
Thanks and regards,

- Anand Amin

Dear Mr. Tarambale, Thank you for the marriage invitation of your son Shri Harshal on December 28, 2013..  We would request you to convey our heartiest blessings to the newlywed couple for a long and happy married life.

– Amar Pahujani

Thank you very much for the invitation of the marriage of your son. I could see it only today as I was down with high fever I could not open my computer. It is a great thing to see such an invitation. It is really wonderful. I think so far no body has  made such an invitation for the marriage of their beloved son. Mangesh, You are really great and you continue to be the greatest. I am really sorry for the delay to respond. I am still in bed. Really, we want to make it for the Pune reception. I do not know whether it will be possible and whether I will be recovered by that time. Our best wishes for the couple in advance. May God shower His choicest Blessings on the Couple. We wish Harshal and his bride a long happy, healthy married life and also all wishes for the Tarambale family for the happy wedding. Please let me know when you reach Mumbai.

- Vasudevan Nair

Dear Mangesh,

A wedding in one's family is surely an occasion to rejoice. Our family is bound twice over by RBI link and now by VITAL INFO link. We would have gladly liked to attend the happy event. BUT the spirit is willing but alas the flesh is weak. Although we may not be there physically, we assure you that our heart and soul will be there to bless the bride and groom. May God shower on them long happy married life. Incidentally, do not orphan us by abandoning VITAL INFO.

- B. Kamath CGM retd

Ekdam mast invitation. Great idea. Thanks. I will not be able to attend either of the functions as my friend Rajani Kulkarni's (HRMD) daughter is getting married on 28th followed by reception on 29th. I am really sorry. Pl excuse for the same and convey my best wishes to the couple. Once again thanks for the invitation. Regards

- Vibha Rege 

Thank you so much for the kind invite and heartiest congratulations. I pray to God to shower his choicest blessings on the young couple and make the function a grand success.

- Jayshree

Dear Sri Mangesh, May the choicest blessings be showered on the Couple. We are grateful  for your invitation. Warmest regards

- Jayaram Nayar

Dear Mangesh, I am highly thankful to you for sending me your very kind invitation to attend the auspicious marriage ceremony of your son, Chi Harshal. Though I regret that it will not be possible to attend the ceremony at Pune on 28th December, I shall be mentally present and celebrate the occasion. I wish the would-be bride and bridegroom all the very best in the beginning  of a happy, blissful  and healthy conjugal life and also congratulate you for soon becoming the father-in-law of a lovely bahu, Vishakha, who will fill your household  with all joy and happiness all around. With hearty congratulations. 

- Prabal  Sen

Hi Mangesh,

Congratulations for the marriage of Harshal. My blessing for the newly weds. I know it may be perhaps a bit difficult to manage the Vitalinfo from Mumbai where you will be burdened with more responsibilities in your official capacity but not impossible and I am sure you will continue this venture for the benefit of all your well wishers. 

 – Kuldeep Wadhwa

‘RBI cakes’ a hit every Christmas in Kolkata

.........A co-operative canteen, run by the RBI employees union, buys X-Mas cakes from Howrah in bulk to sell it amongst its employees. “With years the cake became so popular that street vendors also started buying it from the same bakery in Howrah and branded it as “RBI cake,” an RBI canteen staff told PTI. Sushanta Nath, president of the Reserve Bank Employees Association, said the cakes are very popular due to its taste and price...............

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Obituary

Shri.N.H.Natu passed away on December 22nd  in Vile Parle, Mumbai. He was a little over 80 and suffered from a cerebral haemorrhage. He worked in  RBI  for almost four decades. and  was mostly in the General Side and retired as an  Staff Officer in DBOD, Mumbai. He was an enthusiastic sportsman and excelled in Table-Tennis. Reading books and journals was his hobby and he was a regular visitor to the S.V.Phatak Library in Vile Parle. I met him  in this Library only this Saturday 21st and he asked for the latest position of Updation and  I gave him the customary answer--"No Progress". He leaves behind his wife and two daughters and a large circle of friends in the Bank. May his soul rest in peace. 

- P.P.Ramachandran.

Restructuring a savings scheme

........An earlier attempt to protect savers by offering an instrument that pegged return above wholesale price index (WPI) inflation was not really for ordinary individuals. The new series, though offering inflation-beating returns, might still falter for a variety of reasons. Their complexity — a 10-year tenure, lock-in periods of one year for senior citizens and three years for others, compounding of interest every six months but paid only after the full tenure — might drive away many would-be investors. ........

Read - The Hindu

RBI forms panel to improve data collection, eases investment rules

 The Reserve Bank of India (RBI) has formed a committee under Executive Director Deepak Mohanty to review the current system of data collection and the feasibility of data production within the apex bank to reduce the burden on reporting entities.This committee will recommend steps to deliver quality information to data users and reinforce the information system for monetary policymaking, the RBI said on Tuesday.............

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Bank licence: RBI may miss Jan date

..... The Reserve Bank of India may miss the January deadline it has set to issue new bank license, Governor Raghuram Rajan told TV channel ETNow on Monday. “I did say that we will try and do it around time of (Deputy Governor) Mr Anand Sinha’s retirement, but I think it will take a little more time than that. But I am hopeful not much more,” Rajan said............

Read - FPJ

Shinjini Kumar: New bank licences - No more euphoria?

.........Desirable as it may sound on parameters of inclusion and safety, this model is untested as no bank in India has actually operated with the prescribed branch ratio from inception and almost no bank stands to the test of the rural urban ratio as of now. Some applicants may actually be able to come up with game-changing ideas for viable inclusive banking. Others may want to create their niche...........

Read | Business Standard

No plans to change Federal Bank's ownership structure

.........."But since April this year, the rules changed and one has to apply to the Foreign Investment Promotion Board (FIPB). When this application was done, there arose some misunderstanding and news surfaced that we are seeking foreign investors. The whole thing was mistaken and there are no plans at all to alter our structure," ................

Read - TOI

Axis Bank moves tribunal to recover debt from Gopinath

Within months of the State Bank of India initiating an aggressive stance to sell a sprawling residential property of G R Gopinath for non-payment of dues, another lender — Axis Bank — is escalating the process to recover close to Rs 265 crore from him. The bank, which has been in various stages of discussions with the Air Deccan founder over his grounded air logistics foray under ...........

Read | Business Standard

HDFC Bank elevates Sukthankar as Dy MD

HDFC Bank, on Tuesday, promoted Paresh Sukthankar as the Deputy Managing Director. The decision was taken by the board of the bank, which met on Tuesday, the lender said in a BSE filing..........

Read - The Hindu