Read............
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.
Sunday, March 4, 2012
Market turbulence unlikely to be over in next two years: Gokarn
Read............
Raising overseas investment cap depends on current account: RBI
Read...........
Distinguished scholars, Experts to address Oxford India Business Forum 2012 Mumbai on March 19
........ The first panel of speakers including Sir Thomas Harris, Special Advisor, Standard Chartered Bank; Usha Thorat, Director of the Centre for Advanced Financial Research and Learning (CAFRAL), Reserve Bank of India; Ms Chitra Ramkrishna, Joint Managing Director, National Stock Exchange, will discuss on regulatory systems around the world which have failed to detect the underlying trends leading to the current economic crisis. The panelists will explore the appropriateness of this characterization of regulatory bodies, as well as reflect on the lessons learned about the appropriate size, compensation, and composition of regulatory bodies in relation to the financial sector. The speakers will also draw the outlines of what proactive, technologically sophisticated regulation should look like in the future.........
Read more...........
Gold prices and financial stability
Has gold as a safe haven turned into a bubble? More importantly, if that bubble pops, would the Indian financial system be at risk? These weighty questions are addressed by RBI staffers, Rabi N. Mishra and G. Jagan Mohan, in their recent working paper “Gold prices and Financial Stability in India"....................
Read...................
Read...................
INDIAN RUPEE SHORTAGE
......... there are reports that RBI has issued a circular to its banks to start trade transaction with Nepal in USD. (Previously, Nepal and Bhutan had been trading with India in INR.) The circular that only concerns Nepal clearly implies that India seeks to minimize frauds related to INR transactions in Nepal. But this will have an adverse effect on two-way trade in border areas. This RBI inquiry could be one of the strategies of the Indian government to put pressure on Nepali government to change the peg. As an import-dependent land-locked country, Nepal has always been dependent on India, politically, economically and culturally. This could be one of India’s strategies to maintain Nepal’s monetary dependency on the southern neighbor. As Indian businesses in Nepal will not immediately benefit by a change in the peg, the latest move seems to have been taken with a long-term vision..............
Read.............
TV actress falls prey to online lottery fraud
.......... Shetty claims she received a form with the Reserve Bank of India (RBI) logo in her e-mail. She immediately filled up the form and replied to the mail. Later, she also deposited the amount. As she didn't get the prize money, she realized that she was cheated.
Read.............
ASSOCHAM for immediate reduction of CRR by 100 basis points to address intense liquidity crunch
To make funds available for many large projects awaiting disbursement and instil confidence amid investors, the ASSOCHAM has sent an SOS to the Union Finance Minister, Mr Pranab Mukherjee and the Reserve Bank of India (RBI) Governor, Dr D. Subbarao to urgently cut CRR by at least 100 basis points with a view to provide Rs one lakh crore for the growth of the economy without awaiting the monetary policy scheduled March 15........
Read..................
Value picks yield high in volatile markets
............. The domestic stock markets are expected to do well in the medium term as the uncertainty in the European markets seems to have been resolved for the time being, and inflation dropping here will enable the Reserve Bank of India (RBI) to ease the monetary policy, going forward......................
Read............
Now, some old private banks to recruit thru common written exam
....Some more bank jobs in the private sector will open up shortly for candidates who have passed the common written exam (CWE) (for both officers and clerks) conducted by the Institute of Banking Personnel Selection (IBPS). .............
Read..........
Read..........
Two held for bank scam
.......... The banking licence of the Ahmedabad-headquartered GICB was cancelled by the RBI due to insolvency in November last year. The bank has 20 branches in 19 cities in Gujarat. The co-operative bank's fate became uncertain after RBI clamped restrictions on it for failing to reduce its non-performing assets (NPAs). In September 2008, the bank was placed under section 35A of the Banking Regulation Act 1949 which places a ceiling on repayment of deposits per depositor. "The bank has a bagful of scandals where loans worth crores have been given without taking collateral. The bank has deposits worth Rs 535 crore and NPAs of Rs 300 crore," said Bipin Shah, who was appointed on the bank's administration board by RBI.........
Read..............
Kripashankar Singh saga: were the bureaucrats asleep?
.............. you need a bank transaction to close the purchase of any property described in the list of attached assets – and the Reserve Bank of India AND the Income Tax department ought routinely to have been informed. If they were indeed informed, why didn’t they raise a red flag?....................
Read..........
When your cheque goes missing
...The RBI has mandated that banks, under no circumstances, should refuse to accept cheques over the counter and that they must give proper acknowledgement when received at the counter. ..............
Read............
Saturday, March 3, 2012
Cosmos Bank opens Chennai branch
Cosmos Bank, a co-operative bank, on Friday inaugurated its first branch in Chennai. The branch was inaugurated by S Karuppasamy, Executive Director, Reserve Bank of India, and Vijay Pingale, managing director of Co-optex, according to a release on Friday.
BS
Why RBI’s Subbarao will find it tough to cut interest rates
..............It’s hard not to feel sorry for Reserve Bank of India Governor D Subbarao. For months now, everyone from assorted businessmen to the government has been bearing down on the governor to cut policy rates to provide a helping hand to economic growth, which slumped to 6.1 percent in the quarter ended December.But so far, the governor has resisted those pressures................
Read...............
No cap on bank lending to sector, RBI says
The Reserve Bank of India has not mandated any sectoral exposure limits on banks, and hence, banks should not say that having hit the limit for the power sector they are unable to lend to the renewable power sector. Banks may have their own internal sectoral exposure limits, but the RBI has not imposed any such limits, according to Dr K.C. Chakrabarty, Deputy Governor. It is however true that the RBI stipulates lending limits with respect to borrowing entities, but there is nothing sector-wise, he said. Dr Chakrabarty said in response to a query that players in the renewable-energy industry are finding it difficult to raise loans because banks say they have exhausted their ‘limits' by lending to thermal power projects.
HBL
Raising overseas investment cap depends on current account, says RBI
MUMBAI: The Reserve Bank today said an immediate hike in the cap on overseas investments by corporates depends on improvement in current account. "Any further liberalisation (of overseas investments by corporates) can take place perhaps after current account condition improves," Reserve Bank Deputy Governor H R Khan told a meet on Outward FDI here this evening...........
Read.............Bankers urged to achieve objectives of financial inclusion scheme
...............Bankers should evolve ways to achieve the objectives of the Financial Inclusion scheme of the government, said the Deputy Governor, Reserve Bank of India (RBI) K.C. Chakrabarty at Kotagiri on Friday.He was inaugurating a Rural Self Employment Training Institute and a Financial Literacy and Credit Counselling Centre promoted by the Indian Overseas Bank (IOB).............
Read............
Read............
Banking correspondent model still in ‘evolutionary stage'
Kothagiri (TN), March 2: The banking correspondent model of extending services to the unbanked regions is still in an evolutionary phase, Dr K.C. Chakrabarty, Deputy Governor, Reserve Bank of India, said here on Thursday.“We are yet to find an appropriate delivery model,” he told journalists on the sidelines of a function of Indian Overseas Bank here. The bank on Thursday opened a rural self-employment training institute and a financial literacy and credit counselling centre here..................
Read..............
Read..............
Priority sector lending: Call to hike cap on bank loans to NBFCs
..............“If RBI's intention is to ensure that cost of delivery does not increase then they can put a cap on the final interest rate charged,''......................
Read.............
Read.............
Subscribe to:
Posts (Atom)