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.
Wednesday, April 30, 2014
Dr Duvvuri Subbarao Appointed Distinguished Visiting Fellow at NUS Business School
KCC - Emperor of 'freedom of expression'
My View on "Dr KC Chakrabarty's post retirement cause for bank...":
Very interesting and informative article. The article also takes note of Chakrabarty’s approach towards the challenges now being faced by the financial sector. He was at times, according to his own admission, contrarion and never felt bad about being ‘controversial’ while using his ‘freedom of expression’. He will be remembered in RBI circles for his open mind and anxiety to find solutions for problems in his own way. Even his exit made a news, as perhaps, Chakrabarty is the first person in RBI to declare that it is the individual’s option to decide ‘when to stop’.
- M.G.Warrier
RBI to have a 5th dy governor; more executive directors
With new govt, RBI may face growth-inflation dilemma
.........According to him, RBI’s primary job, among others, is to arrest inflation. “RBI can’t do it alone. It has to be a concerted effort, with the government.” On its part, RBI has continued to remain “focused on inflation”. Some members of the RBI technical advisory committee, which met on March 26 and assessed the market situation, have expressed “concerns” on inflation. ............
Conference on Ethics and Corporate Governance
Corporate Governance assumes much significance in today’s corporate world as we see collapse of institutions, systems and procedures due to poor governance. Voluminous work has been done in the area of corporate governance through studies, debates and conferences. The need for such exercises is felt more in the modern world.
Speakers include
Ms. Chitra Ramakrishna, Managing Director & CEO, NSE Ltd.
Shri G. Gopalakrishna, Director, CAFRAL, Former Executive Director, RBI
CS Shri Vikas Y Khare, Vice President, ICSI
Shri B. V. Chaubal, Dy. Managing Director, SBI
Shri M. S. Sahoo, Secretary, ICSI
Shri V. S. Sundaresan, Chief General Manager, SEBI
Shri Sandip Ghose, Director, NISM
Dr. Amitabh De, Director, IIM, Shillong
Shri Amarnath, Chief General Manager, RBI
Shri G. Gopalakrishna, Director, CAFRAL, Former Executive Director, RBI
CS Shri Vikas Y Khare, Vice President, ICSI
Shri B. V. Chaubal, Dy. Managing Director, SBI
Shri M. S. Sahoo, Secretary, ICSI
Shri V. S. Sundaresan, Chief General Manager, SEBI
Shri Sandip Ghose, Director, NISM
Dr. Amitabh De, Director, IIM, Shillong
Shri Amarnath, Chief General Manager, RBI
CAFRAL - Program on Transfer Pricing in Banks
....The objective of the program is to provide conceptual clarity and practical insights on Transfer Pricing methods and its linkage to strategy and risk management......
Launch of Rs 10 plastic currency notes by RBI delayed: report
The Reserve Bank of India's plan to put in circulation Rs.10 plastic currency notes on trial basis will be delayed as the initial bids have failed to qualify the technical criteria and the whole process will start again, according to a functionary of the apex bank. "The selected bidders failed in meeting the technical specifications of the plastic banknotes in Rs. 10 denomination that RBI is proposing to introduce on a trial basis, necessitating undertaking the exercise afresh, thereby delaying the process," the senior RBI functionary said..........
Mere possession of a forged note is not punishable
The problem with having a fake currency note is that not only is it mostly unusable, there is also a threat of punishment. The Reserve Bank of India (RBI) states on its website that even though mere possession of a forged note does not attract punishment, holding a note knowing that it is a fake and then intending to use is it as a genuine note is indeed punishable under section 489C of the Indian Penal Code, 1860 '...........
Electronic Payments in Retail: Are we moving from Cash to Less-‐Cash Society?
....In order to have large-scale proliferation of electronic payments system, the retail payment infrastructure or ecosystem has to be inclusive. There is no business case of dedicated eco system separate for card payments at retail, BCs and other payments system like mobile/DTH recharges/Billpayments carried out at retail. Cash on the other hand needs to be discouraged. Currently cash from ATM is free (5 transactions of upto Rs 10,000 per transactions in a month) and Debit/Credit card use on PoS terminal costs the merchant MDR. It should be reversed to encourage electronic transactions......
IDBI Bank Elevates 6 Officials to EDs
State-run IDBI Bank has elevated six executives of chief general manager (CGM) rank to executive directors, three people with the knowledge of the matter said. These positions had fallen vacant due to retirements, transfers and elevations.
The executives promoted include............
Read - ET
The executives promoted include............
Read - ET
SBI signs up Reliance Money Infra as business correspondent
..........State Bank of India has signed up Reliance Money Infrastructure (RMIL), an Anil Ambani Group company, in a ‘business correspondent’ deal to source a range of banking services. The deal was concluded on February 25 but has been made effective with retrospective effect from October 5, 2013.............
RBI might not push bond index plan
............ RBI could be waiting for better macroeconomic stability domestically and a little more resilience in the financial markets before taking a step like this. This is because such a step might lead to more volatile bond flows into the country. RBI might not want this volatility as of now,” said Suyash Choudhary, head, fixed income, IDFC Mutual Fund.................
Deserving the honour
......The choice of Bandhan and IDFC by the RBI as the first two to be granted bank licences among the 26 which had applied, has surprised many. Among those still waiting are biggies such as the Aditya Birla Group, the Reliance ADA Group, the Bajaj Group, the Shriram Group, L&T Finance, Indiabulls and LIC Housing. Why these two? "A question the regulator had been grappling with was how to avoid creating replicas of existing private sector banks," says a person who has been close to the process. In the last two decades, the RBI has cautiously allowed a dozen new banks to emerge, but of the seven which have survived - and whose share of deposits and lending in the entire banking sector is around 15 per cent - most are indeed clones of the banks which already existed, offering the same services. Given their background, Bandhan and IDFC are expected to be different.......
When The Going Gets Tough, State-run Banks Get Going
.........To be sure, lenders selling pledged properties, or stocks are not new. But the fact that they are doing for some high-fliers and that they have got a strong backing from the RBI to do so is what is differentiating the current events from the past. Another stick that banks can now beat the erring promoters with is the power to throw out the management and bring in professionals to run troubled companies. Many of them are sceptical of this approach succeeding.............
Read - ET
Canara Bank to raise over Rs 500 cr via QIP route
....The bank had on Monday announced that it would consider rasing funds through the qualified institutional placement (QIP) route or through preferential allotment during the current financial year. The bank's board had also constituted a committee of directors to work on the modalities of the two options.....
When Gold Standard Had No Taker
When the British attempted an economic unification of this porous nation, they hit upon the idea of a single currency in a substantial part of the country which had territories under the British as well as princely states. The debate was to have a gold standard, or silver standard. If it were early 21st century, gold would have been a clear winner. But in 1835, it was not so because price of gold was falling rapidly due to discovery of new mines................
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