The Reserve Bank today issued draft guidelines on prudent valuation of banks' long-term assets which are illiquid in nature. "The prudent valuation adjustment for illiquid positions has assumed greater importance in the wake of the recent financial crisis," RBI said in the draft supplementary guidance.......
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.
Tuesday, September 18, 2012
Water purifier donated to school lies idle
.....Mr. Subba Rao procured a purifier from Mumbai to donate to the school in keeping with his promise to provide safe drinking water to the students. The students with poor social and economic background, told Mr. Subba Rao during his visit to the school a couple of years ago, where he had studied up to VII standard, ......
RBI plays wait-and-watch game as politics dominates
......Considering the state of the Indian economy and governance, the reforms did not merit immediate rate action. Market and economy watchers should be patient and wait for FDI — “foreign direct investment” — approvals to go through. Perhaps Subbarao was watching the political game instead of succumbing to the excitement of the moment.......
CRR cut a welcome step in right direction: Montek
......"..What RBI has done is that they have acted in the market by releasing resources. It is the release of resources that will make an impact on the rest of the system. It is a step in the right direction, "......
Analysts says CRR cut indicates RBI's concern on growth
Analysts and economists have welcomed the RBI decision to keep the rates unchanged in view of the sticky inflation and increase the liquidity with a marginal CRR cut, saying an interest reduction is a bit too far off as the positive impact of the reform measures will take a while to materialise.......
Lending rate to pinch less
| RATE CUT MUST WAIT BUT DOVISH TONE IS HERE |
 “Given the comfortable liquidity and the recent reduction in deposit rates by banks, interest rates in general could be expected to trend downwards gradually”Chanda Kochhar MD & CEO, ICICI Bank |
 It is a positive move but not to the extent we hoped for. It shows that RBI is willing to respond. Our asset liability committee will meet tomorrow to take a call on interest ratesPratip Chaudhuri Chairman, State Bank of India |
 “Everyone was expecting a rate cut this time. However, RBI seems to be waiting for inflation to soften further. So, probably in the next 6 weeks or so, we can expect a rate cut. Banks have already started lowering rates and a cut by RBI next time will help consumers get relief”Rajeev Talwar Executive Director, DLF |
Read - BS
Sound strategy
......Without in any way discounting monetary policy’s role in supporting the growth revival, the RBI is categorical in stating that continuing inflationary pressures alongside risks emerging from the current account deficit and fiscal deficit constrain a stronger policy response to growth risks. Restricting monetary action to a CRR cut for now is a good idea.......
RBI is giving positive signal; repo cut may come in Oct
......The CRR cut will infuse around Rs 17,000 crore into the system and this infusion is not going to do wonders for systemic liquidity and bank credit growth. However, the CRR cut is definitely a precursor for policy easing in RBI’s forthcoming policy review in October 2012.......
Sorry, no gifts: Why the RBI held back on rate cut, again
......"As policy actions to stimulate growth materialize, monetary policy will reinforce the positive impact of these actions while maintaining its focus on inflation management," ......
Smiling Appa - The Boss
"Hearty GR
Archived..............."
This is a second shocking news within
a short time of two three weeks after sudden and shocking demise of Smt Anitha
Srinivasan GM RBI Chnadigarh. Shri GR Appa was my first boss (Staff Officer) when
I joined RBI in 1974. He was very witty and had a knack to extract the
work very smilingly from his juniors. I would always cherish fond memories of
GR. May God rest his soul in peace and give courage to his family to sustain
the shock.
- Ramakant Kulkarni
Ex.Member
of Faculty CAB Pune and Ex. GM NABARD Pune
Emerging Kerala: Submerged priorities
......Reserve bank of India (RBI) Deputy Governor Subir Gokarn was a lone sane voice in the sound and fury created by the indoor festival that was “Emerging Kerala” in Kochi. He said the state should exploit the inherent strengths while planning for economic development. Kerala has all the potential to develop at par with some of the developed countries.......
Currency time-bomb: Counterfeit notes galore with election in the corner !
......It would appear the very purpose of having test runs with Rs 10 polymer currency notes by the RBI was to see and assess the market reaction and, perhaps, introduce the polymer notes on a gradual basis, if and when a final decision is taken by the government. We need to take care of higher denominations rather than small notes !......
Monday, September 17, 2012
RBI’s prescription for ailing economy
......The most disturbing feature of the whole exercise is the bankers' attitude to these accounts. Governor Subbarao is more blunt when he says: " The general impression I got is that frontline, managers treat no- frills accounts as a nuisance and low income households as an intrusion into their time and business. This is disappointing to say the least. Actually, financial inclusion should be looked upon by banks as an opportunity to build " fortune at the bottom of the pyramid". Outsourcing financial inclusion to other layers may be useful upto a point. Ultimately, these layers have to be integrated with the mainstream banking.
Subbarao's tightrope walk
The govt has shown its animal spirit, but for RBI Governor D Subbarao, the task has become more complicated. Will he cut rates to keep the animal spirit going or stick to his anti-inflationary stance......
An uncommon policy review
......It is a judgement call; but at the risk of sticking out my neck, my hunch is that the Governor will find it hard to not meet the government halfway and announce a small 25-percentage-point cut in policy rates, most likely in the cash reserve ratio, the subject of a hotly-contested debate between SBI chairman Pratip Chaudhuri and RBI Deputy Governor K C Chakrabarty. Though as a die-hard monetarist, I would be happy to be proved wrong !
Read - ET
Hearty GR Archived……
Shri G R Kulkarni, Ex.AGM and In charge of the then CRDC (now Reserve Bank of India
Archieves), Pune expired due to heart attack on September 15, 2012. He was on his
way to Pune Rly Stn. to catch Pragati Express at about 7 in the morning. After getting down from an Auto he suddenly
felt uncomfortable and succumbed
to massive heart attack on the spot. He was 74. He left
behind his wife and two daughters. Funeral took place in Pune on the same day.
Shri Kulkarni joined the Bank in early sixities and had worked in DBOD, DICGC,
Chennai Office, PPD CO and CRDC (during 1995 to January 1998). He had retired as
Asstt General Manager (Adm) from CAB, Pune. He was quite hale and hearty. He was very friendly with all and was
popularly known as "Appa ". May his Soul rest in peace and may
Almighty give strength to bereaved family to bear the loss.
- R.M.Deole & Shrikrishna Purohit (via e-mail)
Banks need to improve systems to protect asset quality: RBI
Indian banks need to improve their systems and processes to identify early any stress on the quality of their loans, the Reserve Bank of India (RBI) said. "Asset quality of banks is one of the most important indicators of their financial health. However, it has been observed that existing MIS on the early warning systems of asset quality, needed improvement," ......
Will RBI tango with govt on Monday?
Though the government surprised people by biting not just one reform bullet but many in just 48 hours over the weekend, the question now is: Will the RBI Governor walk the much-needed monetary extra-mile on Monday or will be weighed down by the 68 bps spike in August inflation?......
Finance ministry to meet bank chiefs today to boost realty lending
......The panel, headed by Ajai Kumar, chairman and managing director of Corporation Bank, is expected to give its report by month-end. Mittal will also attend the meeting of the sub-committee of the Financial Stability and Development Council (FSDC) at the Reserve Bank of India (RBI). The sub-committee is headed by RBI Governor, D Subbarao, in which all financial sector regulators are members. RBI deputy governors also attend the FSDC sub-committee meetings.......
Beware! Fraudsters using RBI to trap innocents
...... RBI never asks for any details about customers’ account,” a Jammu based RBI official expressed. He said that RBI’s official website is www.rbi.org.in adding, “RBI through its website warns people about the cheaters and the phishing emails.” RBI cautious public against fictitious offers, never asks customers about their bank details, he said and added, “if anybody has complaint, it can be lodged to a local police, cyber crime authorities against such fictitious offers of money from abroad and SMSes.”......
Rs 13-cr fake notes in 6 yrs, ICICI Bank puts in plaint
After detecting counterfeit currency with a face value of around Rs 13 crore from all the branches of ICICI Bank, the bank has registered a complaint with Delhi Police. Over the past six years, the bank has received this fake currency notes through its various branches......
OBC launches RuPay with withdrawal limit of Rs 25K
......"RuPay is a domestic branded card and the idea is to make card payment system cost effective. Cost and affordability are the primary reasons for the need of it," A P Hota, Managing Director and Chief Executive Officer of National Payments Corporation of India (NPCI) that governs RuPay system, said.......
Gujarat HC order may set tone for AP court MFI verdict
......“The Gujarat high court order can have a persuasive value on the case, though it is not binding on the Andhra Pradesh high court,” said Bomi Daruwala, a partner at legal firm Vaish Associates Advocates. “The central Reserve Bank of India Act will prevail over the state law on regulation of NBFCs, as ruled by the Gujarat high court.”......
No currency
Sometime ago, Baba Ramdev had suggested taking Rs 500 and Rs 1,000 notes out of circulation as a measure to curb black money. Possible? No, Reserve Bank Deputy Governor K C Chakrabarty told someone who asked the question at an event. Withdrawing these notes and introducing an equal amount of money in lower denominations was beyond the current capacity of the mint, he explained. So, doing this would stall many day-to-day transactions. The question is whether the yoga guru-turned activist will understand this simple truth.
BS
Model education loan scheme set for an overhaul
......Although RBI mandates banks to lend 40 per cent of their total advances, towards agriculture, education, home loans, SMEs and MSMEs to achieve the priority sector lending target, there is no limit specified for each sector.
Despite everything, RBI may lower rates
.........the Reserve Bank of India (RBI) will once again take stock of the global and domestic economic scenario and brief the markets about its views and course of action. To understand what to expect from the RBI, it would be useful to chronicle recent developments in the domestic and global front which will impinge upon monetary policy......
Four weddings and no funeral
......The rupee has, like other non-dollar currencies, seen a fairly significant rally both in the build-up to QE3 and in the wake of the announcement itself. The fact that the QE3 news came on a day when our own government decided to announce fairly hefty increases in fuel prices just added to the currency’s momentum. If the Reserve Bank of India (RBI) decides to reciprocate this fiscal initiative with a cut in the repo rate, more appreciation could be on the cards as investor sentiment gets another boost. But how high can the rupee go?......
Political will, need of the hour to sustain euphoria
......With the Government doing its part on reforms, now all eyes are on the Reserve Bank of India's mid-quarter review of the Monetary Policy on Monday. There is an air of optimism among traders that the RBI might actually announce at least 25 basis point cut in interest rates. However, inflation at 7.55 per cent in August – much above the central bank's comfort level – has given little headroom for RBI......
All eyes on RBI in the reform run
......Most economists and bankers are sceptical. But the Finance Ministry is optimistic, pinning hopes on the RBI’s statement of July 30 on “Macroeconomic and Monetary Developments First Quarter Review”.......
Policy rate caution
With the “party” that began over the weekend, there have been calls for the Reserve Bank of India (RBI) to take it easy and cut the policy rate..........
RBI’s turn
The government’s barrage of announcements complicates Governor Subbarao’s choice
......The set of policy measures announced last week is unlikely to yield results this fiscal. The headline inflation at 7.55 per cent is high and is climbing again. Two weeks later, the diesel price rise will push it one per cent more. Yet if the RBI governor wants to vote for optimism on the economy, a 50 basis point cut in repo rates will do nicely......
Read - Indian Express
What will RBI do?
Will the RBI cut rates on Monday or maintain the status quo?
Answers to that would depend upon whether the RBI thinks that the diesel price hike is the starting point of an earnest attempt on the part of the government to mend its finances. In the recent past, the RBI has consistently complained of government inaction in the face of a burgeoning fiscal deficit. So it had to fight the inflation battle single-handedly. With a new finance minister and first concrete proof of government’s willingness to take tough measures, the RBI has some leeway to go easy on interest rates.
Read - The Hindu
Will the central bank go for a rate cut?
......In normal circumstances, a rate cut by the Indian central bank is ruled out even though Asia’s third largest economy is slowing. But I would like to believe the Reserve Bank of India (RBI) may go for a rate cut to send a signal to the market, if not for anything else.......
RBI needs to take 'calculated risks' and cut rates
......It is time the Reserve Bank gets rid of its obsession with the inflation numbers, while completely ignoring grave situation thrown in by constantly decelerating industrial growth, Assocham President Rajkumr Dhoot said. "We would urge the RBI to stop taking baby steps, if at all, and go in for calculated risks to revive the industrial output," he said......
Government mulls financial products to dampen gold demand
The government and financial sector regulators-the Reserve Bank of India and the Securities and Exchange Board of India -are in discussions to launch financial products intended to discourage demand for gold in its physical form and excessive speculation in real estate...........
Kangra Co-op Bank adopts RTGS
......Kangra Bank is the largest urban co-operative Bank of the National Capital Territory of Delhi. It is said to be the first Co-operative Bank not only in NCTD Delhi but also in northern region of the country to have joined RTGS network run by the Reserve Bank of India......
RBI approves reappointment of Ananthakrishna as Karnataka Bank chairman
Reserve Bank of India has conveyed its approval for reappointment of Ananthakrishna as part-time chairman of city based private sector bank - The Karnataka Bank Ltd a further period of three years, as proposed by bank's board of directors........
Saturday, September 15, 2012
RBI Governor D Subbarao faces great dilemma as calls for a rate cut gets louder
They are three very different gentlemen in the same boat. One, known for his lung power, strong views and occasionally unfortunate choice of words, is a favourite of the media. You are tempted to believe him, but fear his views may be brushed aside later.
The second has a towering personality and a baritone, complete with wavy hair and Marx-like beard. The man leaves you bewildered.
The third, their boss, armed with a disarming sense of humour, is soft-spoken and transparent - perhaps too transparent that borders on being simplistic. It's entertaining listening to their divergent views on the same subject in the course of a fortnight.........
Will RBI governor D Subbarao now take momentum into high gear and cut rates?
Highlights and rationale of the recommendations of the working group to review the existing prudential guidelines on restructuring of advances
Keynote address of Mr B Mahapatra, Executive Director of the Reserve Bank of India, at the
round table on the highlights and rationale of the working group to review the existing prudential guidelines on restructuring of advances by bank/financial institutions, organised by the Centre for Advanced Financial Research and Learning (CAFRAL), Mumbai, 13 September 2012
.......One group of commentors have expressed reservations on some of the recommendations of the working group; the other commentors, particularly the print media, have generally appreciated the recommendations. I, as the chairperson of the working group accept the brickbats and bouquets with all humility. I am grateful to CAFRAL for organising this round table and giving me an opportunity to explain the highlights and rationale of the recommendations of the working group.......
My View on "Prepaid payment instruments yet to pick up: RBI"
Growth of prepaid payment instruments (PPIs) continues to be sluggish though non-bank entities also can issue them, said G. Padmanabhan, Executive Director, Reserve Bank of India......
The payment system should be improved in such a way that it should gradually lead to elimination of corruption, black money and high denomination notes of Rs 500 and 1000.Prepaid instruments should be made compulsory in high value transaction areas like bullion and other commodity markets, whole sale markets in vegetables and fruits, scrap dealings, etc. Trails of transactions should not be the immediate objective although it may be the end result,as it may discourage many to switch over to PPIs. The efficiency of the Payment System should be one of the yard sticks to assess the inherent strength of the economy. This will also make Financial and banking inclusion a reality over a period. The economy will definitely get a boost if payment system is improved with all safety,speed and accuracy. With improved IT system, the efficiency of the Payment system can easily be targeted and achieved. Many of the present ills of the economy, the Payment system will prove to be a solution.
- Dr.T.V.Gopalakrishnan
RBI ED's optimism along with the comments of Dr T V Gopalakrishnan give some hope about some changes and improvement in the payment system. Perhaps RBI and GOI could consider introducing new and innovative PPIs. Gold-backed Debit Cards could be one option. If a depositor agrees to maintain an average balance of a pre-decided amount, his account should be credited with gold of equivalent value.He should be in a position to withdraw cash, make payments and buy things using the card, but his balances in the account will vary with the price of gold any day. This is just an example. Similar instruments against commodities and services could be thought of.The present position of major portion of PPIs in sort of cash certificates is not very encouraging. As Dr TVG hints, PPIs should also become instruments for bringing transactions which will not otherwise get through formal channels get into banking system.
- M G WARRIER
A cashless India
...... Over the period April 2006 -June 2010, currency has shown a yearly growth rate of 17 per cent. It is estimated that for 2009-10, the RBI incurred an annual cost of Rs 2,800 crore to just print the currency notes. This is 0.4 per cent of the total currency in circulation. The need to move towards a cashless payment economy is perhaps more in India because of the cost of printing, distributing and processing cash. This cost does not include the cost of storage, transportation, security, detection of counterfeits, etc . To the printing cost, if we were to add the cost of storage and maintaining these currencies through ATMs alone, the cost of printing and disbursing currency comes to approximately Rs 70 per person per year......
State ranks 4th in seizure of fake currency
Going by the number of FIRs registered in connection with seizure of counterfeit currency, Gujarat stands fourth among the states, an RTI query has revealed. Between 2009-10, over 480 instances of seizures were reported from the state, which is slightly less than those reported in Andhra Pradesh, Maharashtra and Uttar Pradesh, according to information given by the Reserve Bank of India (RBI) to a New Delhi-based RTI activist, Subhash Chandra Agarwal, recently.......
Read - Indian Express
RBI cautions public against fraudulent mails
.....The mail also informs the bank account holders about the RBI setting up a new 24x7 Centralised Monitoring Centre to monitor financial transaction flow from the internet banking account. "The RBI clarifies it has not sent any such mail and has not set up any 24x7 Centralised Monitoring Centre to monitor financial transaction flow from the internet banking account," it said.......
Supporting policy needed to lower business risks: Gokarn
Kochi: Regulators need to maintain a balance between regulation and innovation as per local requirements, RBI Deputy Governor Subir Gokarn said on Friday as he pitched for a supporting policy framework to lower business risks. Speaking at the three-day 'Emerging Kerala' investors meet, Gokarn said one of the constant watch points of regulators is to make sure that balance is maintained between regulation and innovation.........
Read.......
Assess strengths of State: Gokarn
Kochi : Inherent strengths of Kerala should be evaluated while evolving a long-term development strategy for the State, said Subir Gokarn, Deputy Governor, Reserve Bank of India (RBI). Addressing a session on financial services as part of the Emerging Kerala summit here on Friday, he called for measures to ensure meaningful financial inclusion. Barriers to growth and policy interventions should be studied for a proper perspective. Innovations driven by specific needs and the ability to scale up were important factors in the development scenario, but unbridled innovation would be harmful, he said..........
Malegam Report to be implemented soon: RBI
Participating in a Punjab and Maharashtra cooperative bank event in Bombay H R Khan Deputy Governor of the RBI said the apex bank would soon implement the suggestions made by the Malegam Committee on the cooperative banks. The committee, among other things, has recommended a dual approach of having a board of directors appoint a board of management to run the cooperative banks and a relaxation of entry norms for the cooperative banks in the areas not yet covered by banking services, the RBI deputy added.........
Why monetary policy will not work?
......Come September 17, and Reserve Bank of India (RBI) will have a mid-quarterly review of monetary policy to take stock of the current liquidity scenario and inflation. This meeting has gained relevance after Thursday’s hike in diesel price by Rs 5 a litre and the cap on the use of subsidised cooking gas to six cylinders per year. Will this undermine RBI efforts to control inflation?......
RBI hints at holding rates, says inflation top priority
Ahead of the mid-quarter review of the monetary policy on Monday, senior-most Reserve Bank of India Deputy Governor K.C. Chakrabarty today said the top priority is to keep inflation under control.......
A bitter medicine
......Now that the Government has shown through its latest actions that it is serious about fiscal discipline, and the monsoon’s turnaround since August has also somewhat eased inflationary expectations, the RBI can afford to be more accommodative.
All eyes on Mint Road, will Subbarao oblige?
......The man at the helm, RBI Governor D Subbarao, is surely feeling the heat, to do his bit......
Read - BS
Inflation spike means RBI won’t say ‘Subbarao khush hua..’
......The diesel hike will make RBI Governor a bit less testy, but the inflation spike may not be enough to smile and say: “Subbarao khush hua…”. Given these circumstances, the RBI is likely to stay put. After all, a rate cut is not a quick fix, and even if it is, a quick fix is not a long-term solution.
RBI's inaction on rate likely to continue
......."While Thursday's decision opens up a bit of room for RBI to act on September 17, we expect the RBI to remain on a pause mode given the extreme hawkish rhetoric on inflation in the recent past. RBI is likely to wait and..............
A wave of bold decisions: Has MMS got his mojo back?
......As India heads towards the weekend, there will be lots for analysts and the corporate sector to discuss ahead of Monday’s RBI meeting. One big point of discussion will have to centre around whether one of the architects of the 1991 reforms, the man who is now Prime Minister, has hit a purple patch once again.
Read.....
SBI sees no case for further CRR cut by RBI at present
...."CRR cut is a wish list for every bank. Any time CRR is cut, banks add to their bottomline. But if liquidity is the determining criterion, then I do not see a CRR cut....
Customers paying more for banking services
.....Data for the indices were compiled by the RBI on the basis of responses from 21 banks, of which 13 were in the public sector, four were private, two were foreign banks, one was a cooperative bank and one was a regional rural bank.
RBI ranks Bengal among laggards in drawing FDI
......During the period under review, the Kolkata regional office of RBI, has received a paltry FDI proposal to the tune of R46 crore. The states which one step ahead of West Bengal is Kerala but with a huge difference, with RBI’s Kochi office recording FDI proposal worth R104 crore during the same period. While the apex bank’s Kolkata regional office caters to West Bengal, Sikkim and Andaman and Nicobar Islands, the Kochi regional office caters of Kerala and Lakshadweep. Following RBI’s Kolkata office is the Bhopal office, which caters to Madhya Pradesh and Chattisgarh, whose fresh FDI proposal records during April-June 2012 is slightly lesser at Rs. 35 crore.......
2G scam: RBI Governor Subbarao to appear before JPC
RBI Governor D Subbarao, who was the Finance Secretary when 2G licences were allocated, will appear before the Joint Parliamentary Committee examining the issue as a witness on Sept 18. He was the Finance Secretary between Apr 2007 and Sept 2008.......
Read......
Read......
Friday, September 14, 2012
Cashless society will help weed out corruption: Khan
.....“We want that we should move towards a less cash society. There is a need for the predominant cash in the society to go down,” .......
Large cash market main driver of corruption: RBI
Mumbai: Stating that the circulation of a large amount of cash in the economy leads to many problems, including corruption, Reserve Bank Deputy Governor H R Khan today said the central bank is focused on bringing down the cash component in the economy. "We want that we should move towards a less cash society. There is a need for the predominant cash in the society to go down," Khan told reporters at the sidelines of a Punjab & Maharashtra Cooperative (PMC) Bank event here..........
RBI's 'on-hold' policy coming to an end
......September policy still remains a close call. The August inflation print on Friday and whether there is finally any constructive step towards fuel price adjustments would have a considerable last-minute bearing on Monday’s RBI decision. One cannot rule out a token easing if such factors oblige. RBI’s rhetoric is likely to be more balanced this time.
Oxigen launches mini ATM cum point of sale device
...."...Masses of India will not only have benefits of ATM like banking services such as cash-in, cash-out, but will also have the advantage of paying for utility services...OxiShaan termial is specially designed to offer all these services,".......
Banks may also use SMERA ratings to assess loan risks: RBI
The Reserve Bank today said banks may use ratings of SME Rating Agency of India (SMERA), in addition to grades provided by other agencies, to assign risks to loans for the purpose of computing capital adequacy requirements. ...........
RBI proposes to replace CAMELS with INROADS
....The country’s financial sector would now be evaluated under a dynamic risk-based mechanism, an aspect the present CAMELS rating system lacked, central banking sources said. RBI proposes to replace CAMELS with INROADS (Indian Risk-Oriented and Dynamic Rating System) from the next round of annual financial inspection, in 2013.....
Loan recast: Banking system credibility at stake: RBI
Mahapatra committee observes extraordinary rise in restructured assets
....The gross NPA ratio, hitherto the main financial ratio to gauge the level of impairment in the banking sector’s assets, is now being complemented with the ratio of restructured standard advances to gross advances as a measure of latent impairment of financial assets,” said B Mahapatra, Executive Director of RBI, at a seminar organised by CAFRAL on Thursday.....
Banks must raise provisions for debt rejig: RBI panel chief
The Reserve Bank of India (RBI) committee on restructuring led by its executive director B Mahapatra has justified the steep increase in the provision requirements for restructuring to arrest the spike in large amounts of debt getting converted into equity and preference shares specially in case of large exposures restructured under the corporate debt restructuring (CDR) mechanism ......
टैगोर पर जारी सिक्के की लागत बताए आरबीआइ
.....आयोग ने रिजर्व बैंक की कोलकाता स्थित टकसाल को सिक्के की लागत समेत तमाम जानकारी आवेदनकर्ता को दस दिन के भीतर उपलब्ध कराने का आदेश दिया है। आरटीआइ कार्यकर्ता सुभाष चंद्र अग्रवाल की अपील पर सुनवाई के दौरान मुख्य सूचना आयुक्त [सीईसी] सत्यानंद मिश्रा ने गत सात सितंबर को यह आदेश जारी किया।.......
Read........
Five reasons why RBI must cut interest rates
The Reserve Bank of India will meet on Monday to review the monetary policy, but economists expect the central bank to hold rates for a fifth straight month despite a sharp slowdown in economic growth......
Read...........
Read...........
Running on empty: The long, long wait for reform
.....Even as Chidambaram and his colleagues at North Block battle it out to push the reform agenda through, one man who will be watching the developments carefully will be Reserve Bank of India (RBI) Governor Duvvuri Subbarao. Chidambaram’s pronouncements may have pepped up the markets, but they’re unlikely to have worked on Subbarao who will be waiting for concrete steps to bridge the yawning fiscal deficit. Hence, in the absence of any concrete reform steps so far, Subbarao and his Mint Road team would be unwilling to budge on their no-rate-cut stance............
Financial Inclusion in India
.....So what is financial inclusion? The term first featured in official GOI literature in 2005 when the RBI’s Mid Term Monetary Review paper, defined it as ‘The process of ensuring access to appropriate financial products and services needed by all sections of society in general and vulnerable groups such as weaker sections and low income groups in particular at an affordable cost, in a fair and transparent manner by mainstream institutional players.........
The last-mile challenge
NPAsource.com hoping to sign up private banks soon
NPAsource.com, a dedicated portal for posting information about bad assets of banks, is hopeful of tie-ups with private sector lenders very soon, a top company official said. NPAsource.com, which has around Rs 13,000 crore worth of NPA notices posted on its website, boasts of clients such as SBI, Bank of India, IDBI Bank, Indian Overseas Bank and Nabard.....
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