........RBI should be fully autonomous in terms of pay scales so that there is commensurate reward to the staff as well as incentive for individuals to find the job attractive. Currently, given that the pay could be at 3-5 times in the private sector, it is certainly not attractive in monetary terms, though could be fulfilling otherwise. The institution does provide compensations in terms of generous housing, loans, education allowances, etc, but it does not provide a secure future beyond the public pension schemes. For a governor who has a tenure, unless there is a backup income from the past or in the future, the only motivation could be to steer the ship with limited attention to compensation.............
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Friday, March 28, 2014
Core CPI rigidity an important issue: Gokarn
I think the broad thrust of exchange rate policy has not changed for sometime - that is if there is a perception that inflows are robust, are permanent then there would be less inclination to intervene to support - in a sense - to keep the rupee at the levels it is right now. But if there is a perception that this is a short-term windfall kind of a movement then there might be some inclination to shore up reserves in anticipation of the fact that this flow might reverse. So bottomline is................
Strengthening and revitalising rural cooperative credit delivery system - Deepali Pant Joshi
Speech by Dr Deepali Pant Joshi, Executive Director of the Reserve Bank of India, at the National Meet of CEOs of State Cooperative Banks, Mumbai, 21 March 2014
.........The Committee on Financial Sector Assessment set up by the Government of India in September 2006, under the Chairmanship of Dr. Rakesh Mohan, looked into the financial health of all the banks including the cooperative banks and made recommendations for improvement of financial health and systems for attaining and maintaining financial stability. A major recommendation of the Committee was to prohibit unlicensed banks from functioning beyond March 2012..................
Change in Mindset is the Key for Financial Inclusion - Dr.T.V.Gopalakrishnan
.........The bank officials right from top to bottom can do a lot to improve the living conditions of masses and have the satisfaction of serving them in letter and spirit and providing the support system to give a big boost to the economic growth provided they get fully absorbed and involve themselves with commitment in the discharge of their responsibilities. The mandate for this.............
Love for banks, but not bankers
..............Aptly I quote RBI governor Raghuram Rajan, “Our distaste for the banker must not be allowed to destroy the bank.” He wrote this in his column “Love the bank, hate the banker”.
Free health check up for retired MAFS members attached to Bangalore office
The R B I Bengaluru office is arranging for a free Health Check up from Marsh India (their initiative) - "ONLY FOR RETIRED MAFS MEMBERS ATTACHED TO BANGALORE OFFICE". Those retired staff who wish to avail of the above health check-up may get in touch with
Shri Jagadish K | Sr.Relationship Manager
Marsh India Insurance Brokers Private Ltd. | RMZ Millennia 4th Floor, Tower-C Land Wing, Murphy Road Ulsoor, Bangalore 560008
+91 80 41857814 | Fax +91 80 41857801 / 02 | Mobile +91 9739108883 | Email ID: jagadish.k@marsh.com<mailto:ja
As reported by Franklin Randolph frankmisquith@gmail.com
RBI may go for a smaller than 25 bps rate hike: SBI Report
.............However, since RBI has surprised the markets in past few policies, there is a possibility of rates going either side, but with a larger probability of a rate hike, the report said............
Read - ET...........
BJP reiterates stand on new bank licences
.............“We have said earlier and still maintain that it is an issue for the next government. We will closely scrutinise any move by RBI in this direction if it were to happen prior to formation of the 16th Lok Sabha,” ..........
RBI sought EC's nod on bank licence as matter of caution: Rajan
.........."I think (it) is to make sure that any such announcements are not tinged by uncertainty. That's why it is important to ask the Election Commission whether this meets with the code of conduct. "Think of it as caution, you might call the caution excessive but it's important to follow process,".................
RBI extends Basel III deadline to 31 March 2019
...............“Of late, industry-wide concerns have been expressed about the potential stresses on the asset quality and consequential impact on the performance/profitability of the banks. This may necessitate some lead time for banks to raise capital within the internationally agreed timeline for full implementation of the Basel III capital regulations,”..................
Can RBI’s policies alone tackle rising NPAs deftly?
...The Reserve Bank of India (RBI) along with the other regulators, has constantly been trying several policy reforms to deal with the rising NPAs with not much impact. Looking at the current market scenario and various steps taken by RBI, it would be interesting to see, how bad loans can be minimised...........
Should RBI target inflation?
The issue on whether the Reserve Bank of India should target a particular level of inflation in its monetary policy has many disagreeing, including some prominent names. Doing so was one of the key recommendations of the Urjit Patel committee report. It also suggested adopting..............
India needs more disinflationary medicine
..............To understand what RBI may do, one has to look back at the past two monetary policy appraisals in December and January and look at the factors that prompted a pause and a hike in these two instances respectively...................
How to Solve India’s Bad Debt Problem
........Back home, the government and the RBI should facilitate the formation of Namco, with banks as its major and initial shareholders with an equity base of around . 6,000 crore. Namco’s goal should be to resolve the NPA problem. Its main activities will include NPA acquisition, aggregation and resolution, including the sale of businesses, or assets, or management change. Then comes the rehabilitation, recapitalisation and refinancing. It will also be..............
Read - ET
Srei gets RBI nod for 9,000 white label ATMs
.........Srei said it would leverage its over 27,000 IT-enabled Common Service Centres (CSCs) which were already in operation by village level entrepreneurs (VLEs) through Sahaj e-Village Limited. ............
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