........... If Dr. Charan Singh, who heads the RBI chair in the campus has his way, you will soon find ATM installations at temples, post offices, and petrol pumps. The reason? These are all locations highly frequented by people with provisions for better security..................
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.
Saturday, January 4, 2014
4 Factors That Will Decide Raghuram Rajan's Report Card in 2014
There are four elements of the report card that we would write in December 2014. How much has year-on-year CPI inflation declined? Did the exchange rate hijack monetary policy? Has the bond-currency-derivatives nexus started thriving, with liquidity and market efficiency? Has substantial implementation of the Indian Financial Code taken place?
RBI's Mohanty reviews policy through crisis years
India's central bank joined its counterparts around the world in using unconventional monetary policy to tackle the financial crisis, and the effects of Fed taper
Deepak Mohanty, Executive Director at the Reserve Bank of India (RBI), gave a speech last week outlining the measures taken by the Indian central bank both to tackle the global financial crisis and then to deal with the prospect of Fed tapering last year. The Reserve Bank, he said, "like most other central banks, took a number of conventional and unconventional measures to limit the adverse impact of the contagion on the Indian financial markets and the economy". The measures, Mohanty pointed out, were "supported by fiscal stimulus packages" funded by government borrowing. These measures, he said, caused growth to bounce back quickly but inflation also picked up, so "the policy focus shifted to exit from accommodative monetary policy in a calibrated manner starting in October 2009. To begin with all special liquidity measures were withdrawn, which was followed by hikes in policy rate. As the real policy rate turned positive it started to have an impact on inflation". As economic conditions appeared to be stabilising, volatility in the financial market returned following the announcement in May 2013 of the Fed's intention of likely tapering of QE. "This prompted the Reserve Bank to resort to somewhat unconventional monetary policy measures," he said, including imposing restrictions on gold imports and liberalising the rules for banks borrowing overseas.
Will Urjit Patel committee overhaul monetary policy framework?
........The key question is whether the committee will emphasise on ending the discretionary monetary policy framework – in which multiple instruments are used to address a specific issue -- to a rule based framework that gives lesser headroom for maneuvering. While it may not be possible to shift..........
Benchmark panel seeks tweak in RBI Act
........ “The benchmark calculation may be based on observable transactions, wherever available, as the first layer of input subject to appropriate threshold criteria. The executable bids and offers, wherever available, subject to appropriate threshold and polled submissions, may be used as second and third layer of inputs respectively, in terms of hierarchy of inputs,” ............
RBI’s inflation index bonds deadline extended to 31st March
RBI’s inflation indexed bonds will be available till 31st March. The earlierdeadline was 31st December. Is the extension due to poor response?
The Reserve Bank of India (RBI) has extended the deadline for its Inflation Indexed National Savings Securities-Cumulative (IINSS-C) securities subscription to 31 March 2014 from 31st December. The issuance can be closed earlier than 31st March with a prior notice............
Shiv Kala fraud: RBI, NHB tightlipped
.........When contacted, the chairman and managing director of NHB, R V Verma, refused to comment. RBI, too, has maintained a studied silence over the issue. Despite repeated emails from HT Estates to the RBI asking for information on any disciplinary action taken against the bank officials involved, the apex bank, apart from acknowledging receipt of mails, did not respond to the queries. .............
Early warning system to help SBI zero in on stressed loans
..........The system will be capable of generating event-based SMS/e-mail alerts on, among other things, a delay of 45 days or more in submission of stock statements; delay of 90 days or more in submission of credit monitoring or financial statements; actual sales/operating profits falling short of projections accepted for loan sanction by 40 per cent or more.........
International roaming for debit, credit cards soon?
.............The Mumbai police have written to the Reserve Bank of India (RBI), urging it to make it mandatory for a person to make a formal request to the bank before using credit or debit cards overseas, just like it's done for mobile phone connections. At present, Mumbai tops the list of most online frauds and cyber crimes than any other state in India. .........
Trade unions demand 9% return on PF deposits
......Apart from the interest rate, the Trustees in the first such meeting this fiscal, are also expected to take up a host of proposals including a revamped investment pattern for the EPF. The new pattern, which is based on the finance ministry’s investment pattern for pension and provident fund trusts, 2008, envisages raising the cap on investments in PSU and private sector corporate bonds to 55 per cent but has refrained from investing in equities...........
Indian Overseas Bank launches IOB-Connect card
Targetting young individuals, public sector Indian Overseas Bank today launched 'Connect Card', a new ATM cum Debit card in association with VISA that can be used for e-commerce across five lakh merchant outlets............
Bitcoins: missing the real revolution
..........There are two aspects to bitcoins: one as the digital currency that uses complex mathematical functions to be acquired, moved around and secured; the other as the transaction verification system. The former is the honey that attracts the bees, the occupant of mainstream imagination; the latter is the hive of the future, the real revolution...............
Cashew exporters’ meet
....C.V George, General Manager (Foreign Exchange Department), RBI, Kochi, said commercial banks should guide exporters in the procedural matters apart from rendering good customer service and providing adequate credit to increase export opportunities...........
Subscribe to:
Posts (Atom)