CENTRAL BANKER TURNS AUTHOR

In the good old days before smoking wasn't banned in RBI offices, one can recall Amalendu Ghosh, browsing through bank inspection files amid wafts of smoke. Ghosh, a no-nonsense central banker who had to keep a close eye on regulations, sharp practices of banks, their nexus with rogue brokers and pitfalls in the lending business, has authored “Managing Risks in Commercial & Retail Banking”. It is a book that captures his years of understanding of risks that banks grapple with, the ways to measure them and the lessons learnt from crises that have repeatedly brought the world market to its knees.

ET

Sebi rolls out voluntary retirement scheme

...... The move from the market regulator comes despite an optional VRS scheme launched by the Reserve Bank of India (RBI) failed to yield desired results in 2003-04. According to central banking sources, RBI’s VRS in 2003-04 and 2005-06 had left the organisation badly crippled in terms of staff strength, with a large number of officers quitting while staffers whom the apex bank wanted to go, hardly responded.......

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RBI governor latest victim of scam e-mail

.....Are you among the many who have the privilege of receiving an email from D Subbarao, Governor of the Reserve Bank of India (RBI)? And if you have, have you been stumped at him offering you a life-changing deal and Rs5.8 crore to booty, so long as you keep the deal a secret.........

.....In the earlier such e-mails, the fraudsters have impeccably cloned RBI's website and had asked for bank details. But this time they have directly targeted its governor, by creating an e-mail id in his name-drsubbarao@hotmail.co.in and dr.subbarao01@rediffmail.com.............

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New regional director for RBI

Thiruvananthapuram, April 3: Mr Salim Gangadharan has taken over as Regional Director of RBI, Kerala and Lakshadweep. Mr Gangadharan joined the Reserve Bank in 1981 in the middle management cadre, an official spokesman said here on Tuesday. He has had long stints with various operational department of the apex bank, particularly in bank supervision, financial markets and foreign exchange. Mr Gangadharan was deputed to Central Bank of Oman for a period of five years. He has also been part of several internal working groups in RBI. A native of Kollam, he has until now been regional director for West Bengal and Sikkim. 

HBL

RBI initiates inquiry into 21 banks' operations from residential plots in Nodia

........ RBI's inquiry follows a spate of applications filed under the Right to Information Act by RTI activist and armed forces veteran Lokesh Batra. After the Supreme Court order, Batra filed applications to seek information on what steps the banks would take to ensure the safety of belongings of customers in lockers. RBI was forced to convene meetings and instructed banks to ensure that customers were routinely informed through emails, SMS and notices at branches regarding the alternate arrangements made for the conduct of smooth banking functions, including locker operations.......

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Provide new interest rates on PPF: RBI orders banks

The Reserve Bank of India (RBI) today directed the banks to provide the higher interest rates on Public Provident Fund (PPF) and senior citizens savings scheme (SCSS) from April 1 as announced by the government........

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MP gets R 9,500 cr to fasten wheat procurement

Bhopal: The process of wheat procurement in the state is set to get accelerated with the Reserve Bank of India (RBI) releasing its first installment of Rs 9,500 crore to Madhya Pradesh............

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Slowdown fuels clamour for RBI rate cut

Fearing a further slowdown in the manufacturing sector and prospects of subdued growth, India Inc in its pre-monetary policy consultations with the Reserve Bank on Tuesday pressed for reduction in interest rate by at least half a per cent. Raising concerns of slowing investment, industry body Assocham demanded that the RBI in its annual monetary policy on April 17 should cut benchmark interest rates by 0.5 per cent. The meeting, chaired by Reserve Bank Deputy Governor Subir Gokarn , was attended by representatives of different industry chambers, including Ficci and experts.......

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MFIs appeal to recast residual loans of Rs 2,000 cr in AP

Micro finance companies have appealed to the Reserve Bank to ask banks to restructure the residual portfolio of around Rs 2,000 crore of loans extended in Andhra Pradesh, a top official from MFI industry said today......

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NBFCs seek different capital adequacy norms

.... Earlier, the RBI panel headed by former deputy governor Usha Thorat had recommended that NBFCs should have tier-I capital adequacy ratio of 12 percent against 7.5 percent now. It had also prescribed that only NBFCs with asset book of Rs 50 crore and above should be registered with the regulator. "......

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If FM gives tax sops to foreign banks; will RBI play ball?

......On the stamp duty, which is a state issue, it will be covered under the Banking Amendment Bill since that has an over-arching affect on the states it will help to exempt foreign banks from stamp duty when they are transferring real estate to their subsidiaries. So, in order to give a fillip to foreign banks in the country, the government is considering both these steps but it remains to be seen if the Reserve Bank of India (RBI) is supportive because ultimately they will have to give their approval to this....

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RBI seeks gold import data from EOUs, SEZs

The Reserve Bank of India wants granular data on import of gold by export oriented units, units in special economic zones/export promotion zones, and nominated agencies/banks.This move comes in the wake of an almost 50 per cent growth in imports of gold and precious metals being the primary drivers of the current account deficit........

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Calcutta Business School inks MoU with Institution of Valuers

.....The Reserve Bank of India’s (RBI) concern over the rising non-performing (NPAs) assets mortgaged as securities has mandated that a valuation exercise be carried out every three years. This has led to an increase in demand for professional valuers......

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D.Subbarao speech at 37th IIMB Convocation.

Beeline of top headhunters taps IIM-Ranchi talent

.....Saurabh Pratap Singh, who will join RBI, said he had received multiple offers. “But RBI is considered the bank of banks, where I can learn the finer nuances of finance in a much better way. I am looking forward to a posting either in Chennai or Mumbai,” Saurabh said over phone from his native Balia in Uttar Pradesh......

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RBI Gov to meet UCBs, rural cooperatives, MFIs ahead of policy

..... Ahead of the policy, Subbarao will also meet urban cooperative banks (UCBs), rural cooperatives and microfinance institutions (MFIs). In the meeting, the central bank will decide on any further rate cuts to boost slowing economy........

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RBI governor meets Pranab Mukherjee ahead of annual monetary policy review

Reserve Bank of India (RBI) Governor D. Subbarao met Finance Minister Pranab Mukherjee to discuss the macro-economic situation, two weeks ahead of the monetary policy review. "It was just a routine meeting. Next, week I will come back and brief the finance minister about the macro-economic policy," Subbarao told reporters.............

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Have no problems with Sebi's decisions: Bimal Jalan

..... Speaking exclusively to CNBC-TV18, ex-RBI Governor Bimal Jalan said he has no problems with Sebi overturning most of his committee recommendations. "Sebi has made the right decision by addressing the conflict of interest issues," he said......

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Don’t look for soft options, says ex-RBI Guv Bimal Jalan

....... Refusing to be drawn into a comment on what the options before RBI Governor Duvvuri Subbarao are or whether Pranab Mukherjee’s Union Budget 2012 has failed in pushing forward some key structural reforms to address the problem of a ballooning fisc, Jalan, however, made it clear that there were no easy decisions to take for either the government or the RBI. Only hard options are left.......

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Bank of Rajasthan: SEBI’s dubious logic

SEBI whole-time member Prashant Saran, a former central banker, let off the group saying that the violation need not be ‘considered grave’ since it did not involve price or volume manipulation to hurt other investors’ interest – even though the bank deliberately flouted RBI norms.......

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