.....State Bank of India celebrated its Bank Day on Saturday. On this occasion, SBI (main branch) organised a self-help group awareness camp and a mela at Moti Mahal which was inaugurated by Rabi Mishra, Regional Director (Uttar Pradesh and Uttarakhand), Reserve Bank of India in the presence of N Krishnan, chief general manager, NABARD and K Ramachandran, chief general manager, SBI, Lucknow Circle. In the evening, as a part of the celebrations, a melange of cultural events were organised by the Bank with the active participation of the staff members.....
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, July 1, 2012
Cops still clueless on Silsako wetland money source
....We had sent some of samples collected from the wetland to RBI, which confirmed that the notes were real. But we have no lead in the case so far," said an official from the district SP office. "The area is quite huge and surrounded by hotels, illegal settlements and education institutes. It is hard to find out the source of the money," added the official. He added that at least Rs 1.5 lakh was fished out that day........
Staff protests RBI call to close coin counters
.....After RBI’s announcement, four recognised associations of the bank representing officers and employees had requested the bank to desist from closing the RBI counters as they served larger public interest. Protesting the decision taken by the RBI management, the members of the associations all over India staged demonstration in front of the offices on Thursday.......
‘Friends’ lends a helping hand
......“Most of the support for the organisation is from the RBI Staff Quarters, Besant Nagar. We collect old clothes and give it to people who need them,” said Bhavana, Organising Secretary, adding, “We are thankful to Rammohan and Usha, staff of RBI, for their support.”..........
Micro Finance in India
....The bill, introduced in May 2012, will aim to help the RBI set performance benchmarks for different sectors. These standards will be regarding justifiable means for recovering loan and other operational methods of the MFIs. The RBI is also supposed to establish a microfinance fund that will be used for providing them loans, seed capital, and grants. This fund will also be used to provide training to professionals who are working in this sector.........
Insuring stress
Given how sharply the economy has slowed, it’s not surprising the quality of banks’ balance sheets is worsening. RBI says as much in its latest Financial Stability Report (FSR), citing a stress test that reveals a deterioration in their capital position..............
Rebrand Or Perish
20 Leaders of IIT KGP IN The Glorious 60 years
....The book has a foreword by Dr Duvvuri Subbarao, Governor, RBI, and an introduction by Dr Damodar Acharya, Director, IIT Kharagpur. The book, published by Random House India and priced at Rs 150, makes for inspirational read for IITians......
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Read.......
Allahabad Bank awarded RBI Rajbhasa shield
Allahabad Bank has been honoured with 3 prizes by Reserve Bank of India for 2010-11 for outstanding implementation of official language policy of the bank. J P Dua, chairman & managing director of the bank received the prizes from the RBI Governor Dr D Subbarao in Mumbai on Friday.
Volatility Is A Word
The Reserve Bank gives its Governor the best statistics possible in the country; he should invest in better macroeconomic theorists to interpret them
The economy continues to generate unfavourable news. It has been so prolific in bad news that just reporting it can be mistaken for being alarmist. However, the governor of the Reserve Bank took a recent opportunity to ask whether 2012 is going to be a repeat of 1991. A large payments deficit had coincided with a large fiscal deficit in 1991; the same combination is to be seen in 2012. We are happy that he has taken the initiative to ask the question. His answer is predictable: that it is not. And the reasons he gives are good, fair and dubious. He is right that the share of services in national income has gone up. But to argue then that services are more stable and will give stability to income variations is wrong........
Urban Co-op Banks resist RBI’s stringent norms
The cooperative banking scene has witnessed a steep decline in financial standards and it explains the RBI laying down stringent rules for checking a bank’s financial health. However, the evolution of the strict norms by the RBI has ruffled the cooperative banking sector’s feathers..........
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Majority of SMEs call RBI decision of not easing monetary policy ‘unjustified’: Survey
whopping 93% of industries in the SME sector opine that the Reserve Bank of India's (RBI) decision to keep the interest rate unchanged was completely out of line, according to a quick poll conducted by the apex industry body ASSOCHAM...........
Urban Co-op Banks resist RBI’s stringent norms
The cooperative banking scene has witnessed a steep decline in financial standards and it explains the RBI laying down stringent rules for checking a bank’s financial health. However, the evolution of the strict norms by the RBI has ruffled the cooperative banking sector’s feathers............
What’s Your NPA?
Kamlesh Chandra Chakraborty is not one to mince words. On 28 June, the senior-most Deputy Governor of the Reserve Bank of India (RBI) gave bank chiefs an earful on bad loans. “You have misguided your investors for the past five years by not giving your proper NPA (non-performing assets) figures.”.....
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More inter-bank links warrant greater monitoring
.......RBI said the degree of loss to the system due to failure of the ‘most connected’ bank had risen from 12 per cent of capital of the banking system to over 16 per cent in 2011. “Financial stability considerations, therefore, warrant that the risks posed by the increased interconnectedness of the few banks in the inner core to be carefully monitored, through rigorous microprudential supervision of these entities,” said RBI.........
Impact of forex volatility on rupee
....The exchange rate regime in India can also be described as a “bounded float” with the removal of restrictions on many capital account transactions in the past few years. While the RBI does not target the exchange rate, nor has a fixed band for nominal or real exchange rates to guide interventions, the capital account management framework helps in the bounded float.....
Exchange rate: Fixed or floating?
.....The Reserve Bank of India’s selective control in the forex market has been unable to control the free fall in the value of rupee in the recent months. This raises a fundamental question as to whether the RBI should consider alternative exchange rate policy options......
Banks' gold coin imports a concern
.....For banks, selling gold coins was a lucrative proposition, as they earned Rs 100-150 for every gm of gold sold. State Bank of India Chairman Pratip Chaudhuri said, “Banks took to gold coins because customers needed them. Private sector banks were doing brisk business. So, we thought we were losing out on an opportunity and viable business.” He added gold was taking away foreign exchange and some people were possibly holding gold as the nearest proposition to holding dollars.
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