Inimitable VITALINFO with historical perspective - S.n.Bagai / Yerram Raju

My dear Mangeshji, Hamari Mangal Kaamnayen sweekar keejiye.Nav Dampati evam aap sab pur Prabhu Kripa bani rahe. I also hope that your inimitable VITALINFO series would restart at the soonest. With very best regards,

- S.n.Bagai

The amazing network of VITALINFO going single handed by Mr Mangesh Taramble needs support from institutions like the RBI - a substantial grant with no strings as the site provides a historical perspective which at a future date the RBI would like to access, has to pay lakhs. One way is to provide grant with the proviso that the RBI would have free access to the archives of VITALINFO.

– Yerram Raju 

Dear Mangesh, I am really pleased to see your popularity and happy to see the personal touch in so many responses to your invite. It is a true reflection of the fact that sincerity and hard work alone brings in the richly deserved accolades and complements. I am sure you are sucked in the vortex of the recognition for good work and I am sure you have no choice now but to continue to take VITAL INFO to greater heights of glory. My belief is that this work of yours will become a movement and many of the RBITES will lend their time and resources and would love to work with you. Pl let me know how I could be of any use. Regards and best wishes again for the happy occasion of the marriage of your son on 28th.

- B K Katyal

Dear Mangesh, Please accept our heartiest congratulations on the auspicious occasion of marriage of Chi Harshal. We will try to join the celebrations. Our blessings to the couple and best wishes to the family.

- Kiran Sharma and DP Sharmas

Dear Tarambaleji, I wanted to be the first one to wish the newly-weds just as I was the first to receive the novel invitation card. But let me not be the last one. Here is wishing the young couple the very best in their lives of togetherness which they have just embarked upon.  Regards

– Alpana Killawala

Dear Shri Tarambale Saheb, Kindly include my name also in your ‘mailing list’ Rgds

- A Krishna Gopal Joint Legal Adviser Legal Department

Thank you very much for the warm invite for the marriage celebration of ur son Harshal. I extend my best wishes to the newly married couple for a happy and cheerful married life for years to come.

- M.O. Sebastian, GM(Retd),RBI,Kochi

Dear Mangesh, Thanks a lot for your hearty invitiation. I am unable to be with u due to logistical probs only. entally we are with you. Congrats to Harshal andBest Wishes from RBI Retired community Kochi. Regs 

– P.N.Nandakumar

Dear Mangesh, Our congratulations on this happy occasion. Please  convey our very best wishes to your son Harshal and his bride Vishakha for a  wonderful marriage. 

- Jnanendra, GM ( Rtd.) NABARD

Dear Mangesh, Thank you for the beautiful Wedding Invitation. I’m wishing you in advance a day of glory (28th December 2013), opening with firework for the ceremony, with best friends and all quests around, And the sun in the sky as the crown, with soft wind of sweet music in the air, Clouds resembling the words "Congrats, my dear friend Mangesh to you and your family", And with the tiny brightening stars, Twinkling to bring a smile in all of your hearts. Heartfelt wishes on the marriage of your Son Harshal and his bride Vishaka!  Congratulations to a beautiful bride and a groom. All the best to you and your family at this special time and always! With best personal regards. 

 - Pauline DSouza and family 

तारे चमक रहे हैं,  चंदा खिला  हुआ है

धरती के दो सितारों का अब मिलन हुआ है

हरशल की है शादी, सेहरा चमक रहा है

आँखों में नूर सा है,  चहरा दमक रहा है

हरशल बहुत है प्यारा, मम्मा का है दुलारा

पापा हैं मुस्कुराते,  नाचे है अब जियारा

विशाखा बनी है दुल्हन, प्यारी सी लग रही है

हरशल के साथ जोड़ी ये अच्छी सज रही है

हम सब की यह दुआ है, हर वक़्त प्यार में हो

खुशियां हों ज़िन्दगी भर, जीवन बहार में हो

 ए. यू. शेख़ ( सेवानिवृत्त ) भारतीय रिज़र्व बैंक, मुम्बई

Dear Shri Mangesh ji, Hearty congratulations !!! Many thanks for inviting us to the marriage ceremony of your son Chi Harshal. I and my wife Sairani wish the marriage function a grand success and wish the young couple a very happy and long married life. Regards

- JRP Ratnarao, Ex  CGM Mumbai

RBI sees Lok Sabha elections as ‘potential source of uncertainty’

......Warning that any political instability will lead to further erosion of investor confidence in the economy, the RBI governor said, “With confidence in the financial system still fragile, six years into the crisis, policy certainty is something that investors look for in the current environment.” The warning from RBI comes as some political observers are expecting a hung Parliament after the Lok Sabha elections.............

Read - Moneylife

Risk from bad loans rising, warns RBI

.......Compared to the earlier FSR released in August by former RBI Governor D Subbarao, the current version is substantially positive on the external front. In August, Subbarao had said that the key challenge then was to finance the high current account deficit (4.9% in Q1FY14) in a non-disruptive manner and contain its size within sustainable levels. This time, however, RBI has said that there have been...........

Read - TOI

Pension system not adequately equipped

..........The share of elderly in the population has increased from 5.6 per cent in 1961 to 7.4 per cent in 2001 and is projected to rise to 12.4 per cent by 2026. The absolute numbers will double from 7.7 crore in 2001 to 14.3 crore by 2021. “With rising life expectancy and declining fertility, the demographic window of opportunity will close soon and the small cohort of children born during this time will find themselves supporting a large cohort of elderly parents,” the RBI said...............

Read - HBL

Obituary

Capt Ashok Bhandari, retired DGM, RPCD Central Office expired after an heart ailment at Bombay Hospital on December 20, 2013. Shri Bhandari was residing in Mumbai Central Quarters before shifting to Mahavir Building, behind Big Bazar, Worli. A strict disciplinarian was good at heart. I had the previlage of working under him for a couple of years before his retirement in 2008.Kindly convey the sad news to our other members. 

- R. Kumaresan

Financial inclusion gains momentum, says CRISIL

.........There are 21 states in the “high” and “above average” categories now compared to 15 earlier, CRISIL said. Also, only one state is currently in the “low” category against three in 2011. The southern region of the country remained the leader in financial inclusion with 58 per cent of the incremental credit accounts in 2012 getting opened there.........

Read | Business Standard

Stagflation’s year

To get a sense of how tough the year has been for the economy, consider the options RBI and finance ministry had. Normally, monetary and fiscal policies would have been loosened to counter a downturn. What did they actually do?

Read TOI

Insurance mis-selling our problem, too: RBI

.......RBI said the increasing number of complaints could affect the public’s confidence in insurance products, intermediaries and insurance companies. "More important, it seriously affects the demand for insurance, which could have serious implications on insurance as an avenue of tapping savings for long-term investments for the economy,"........

Read | Business Standard

Being mindful of savers’ interests

........Even so, the holding back of strong monetary policy action by the RBI is a serious error of judgement, which the present government will rue in the next few months. Generalised inflation is a monetary phenomenon and has to be tackled by a strong monetary policy, even though it may be a blunt instrument. Not dousing the inflationary fire could risk a major conflagration.

In recent days Governor Rajan has used all his......

Read - FPJ

RBI to review single, group exposure limit norms for banking stability

....The current exposure norms in India are in the higher side when compared to global norms. A Basel committee in March 2013 had proposed that threshold defining large exposure should be set at five per cent of banks eligible capital. The large exposure limit may be fixed at 25 per cent of common equity tier I (as against the currently used total capital). ..........

Read | Business Standard

Cautious report card

......The RBI is spot on when it says that national balance sheets, including that of India’s, need to be strengthened to combat the effects of stimulus withdrawal programmes of advanced economies. The global financial system is now accustomed to high liquidity, and the upcoming squeeze as the U.S. tapers its bond-buying programme could prove disruptive. The problem for India will be magnified given the growth slowdown and ..........

Cautious report card - The Hindu

Bitcoin now morphs into 67 new e-currencies

............A number of bitcoin operators in India have begun suspending their business following RBI’s warning against use of such virtual currencies due to potential money laundering and cyber security risks. Within four years of coming into existence, bitcoin has become the world’s most expensive currency and its per unit value soared past $1,200 level or about Rs 63,000 recently, although the prices have now slipped below Rs 50,000 level...........

Read.........

The Reserve Bank of India Has No Plans to Regulate Bitcoin

........Chakrabarty stressed that the RBI does not regulate nor support digital currencies. He was keen to point out that bitcoin regulation has not been enacted anywhere else in the world, and that people who understand the risks are free to do whatever they like with their money. “Whether it is … legal or illegal, we don’t know,” he said bluntly. “If it crosses the limit of legality then people may face a problem. So people should be cautious.” Chakrabarty’s statements are unusually candid, and illustrate a wider problem for financial authorities. Regulators simply cannot deal with digital currencies .........

Read........

Mobile banking not really buzzing

.......“The growth and acceptance of mobile banking as a channel of accessing banking service have been below expectation,” says the report released on Monday. So far, 78 banks, including a few regional rural banks and urban cooperative banks, have been given permission to provide mobile banking services in the country..........

Read - HBL

NPA menace: Banks must take haircut, says KV Kamath

.......The Reserve Bank of India (RBI) has raised the red flag over the rise in bad loans once again in its Financial Stability Report. The central bank says that NPAs will rise from 9 percent to 10 percent of banks' total assets in a year . Speaking exclusively to CNBC-TV18 veteran banker and Non-Executive Chairman of  ICICI Bank KV Kamath said banks will have to take a haircut to resolve the issue of infra loans and assets.........

Read.........

Jump in large-value frauds

......The RBI said online frauds, lottery SMS alerts, advertisements inducing customers to share the details of bank accounts, cloning of cards etc., pose a real challenge for the banks and customers alike in matters of safety and security. Banks need to evolve........

Read - HBL

Work for the welfare of weaker sections, Rosaiah tells bankers

....Addressing the officials and executives of Karur Vysya Bank Mr. Rosaiah asked the bank staff to dedicate themselves to the uplift of weaker sections and growth of rural populace. Commending the KVB for its achievement on priority sector advances and agricultural credit targets stipulated by the Reserve Bank of India, Mr. Rosaiah lauded the efforts of the bank for its active involvement in the financial inclusion programme of the RBI by covering 117 villages through business correspondents.............

Read - The Hindu

North Block-Mint Road tension resurfaces

........This is required to meet the financial-inclusion objectives, the Department of Financial Services, under the finance ministry, has said in a communiqué to government-run banks. But central bank officials are not amused. They see this as an attempt to enter the turf of RBI, which regulates the country’s banks. According to central banking sources, RBI Governor Raghuram Rajan has been briefed about all government instructions to banks that are seen as trespassing into areas under RBI’s jurisdiction.......

Read | Business Standard

The challenge of financial inclusion

....The history of the microfinance industry illustrates the limited potential of credit interventions. Studies that assessed the impact of MFIs in recent years found very little impact of microfinance loans on either the growth of microenterprises or on poverty levels. In contrast, the so-called social banking model of yore, involving state-directed credit interventions in developing countries such as India seemed to have had a greater impact ........

Read - Mint

Aiming at inflation - A.Seshan

.......After a long time, the RBI was persuaded to refrain from referring to it from its policy statements. Instead it used a more neutral term, namely, ‘non-food manufactured products inflation’. To my horror, in some recent official pronouncements, ‘core inflation’ has raised its ugly head once again — this time in CPI! Maybe it is because it is easy to pronounce unlike the mouth-full ‘non-food manufactured products inflation’! The whole CPI should be treated as core inflation........

Read - HBL

VITALINFO - brilliantly articulated Banking Newspaper : Amalendu Ghosh

Dear Shri Tarambale, My family and myself sincerely thank you and your family for inviting us to attend the marriage ceremony of Chi Harshal. Please excuse me as I am unable to be present on the auspicious occasion as my wife has to undergo eye operation shortly.  We pray to Lord Ganapati for showering blessings on the young couple for long long happy  married life.  We have not worked together but I feel that I am very close to you through the VITALINFO. This learning document is so meticulously designed, so skilfully assembled, so briefly presented, and so brilliantly articulated that it HAS BECOME MORE THAN A BANKING NEWS PAPER of immense value to the central banking fraternity. Regards  

- Amalendu Ghosh Former CGM-in-Charge, DBO&D, Mumbai

Dear Mangeshji, Thank you the invitation to the wedding in the family. Let me take this oppurtunity to wish you all the best for the function. My apologies in being unable to attend the wedding. Shall meet you you sometime later at Pune. With regards,

- M V Ashok, Chief General Manager, NABARD

Hi Mangesh, I am really delighted to hear the news of marriage of your beloved son.  No doubt it is a great occasion and I wish all your family members to enjoy it to the core. I understand you are  transferred to Mumbai.....are you due to take over as PPS to Governor after Pushkala's retirement? Any ways you belong to the DIFFERENT category and you deserve to be there later or sooner. Now a days I am in Australia with my children. I came here in October 2013 and will be back in January 2014. Our VITALINFO is really a link between all of us. Once again congratulations for the marriage of Harshal and welcome the new member in your family with bundles of joys. Best wishes

- K.S. Wadhwa

Dear Mangesh, Many thanks for your invite to your son Harshal's wedding with Vishakha on 28 December . Much as we would have loved to attend I am afraid we will not be able to because the day overlaps my unavoidable personal commitment at Mumbai. But we congratulate you and the entire family on this joyous and auspicious occasion and pray to God to shower His choicest blessings on the young couple ! We too wish them both happy, healthy, long and blissful married life !! Best wishes,  

- V K Sharma, Former Executive Director

God bless you and the two young ones who are embarking on d journey of life together. Regards 

- Harmesh Khanna

Dear Mangesh, Many thanks for the wedding invite. Much as I would have liked to personally attend, I am unable to do so.  We wish the young couple the best of wedded bliss and happiness. Regards

 – G.Padmanabhan, Executive Director

Dear Mangesh, My wife Prof. Kanchan and Childern were pleased to see your wonderful invitation. Thanks  for the same. Our heartfelt congratulations to Harshal and Vishaka!  We wish the newly married couple all success and prosperity in every step of their virtuous life!  We invite the couple for Honey Moon in J&K State and enjoy the Snow of Kashmir. Write to us  to make arrangements.

Regards,

- Rang Pal Gupta and family, Jammu

India to allow Rs.500, Rs.1000 notes in Nepal

.....Indian bank notes above Rs.100 were banned in Nepal as per India’s request to curb unauthorized trade between the two neighbours. During the Nepal-India Inter Governmental Committee (ICG) meeting that concluded in Kathmandu on Sunday, the two sides decided that any Indian national visiting Nepal can carry Indian Rs.500 and Rs.1,000 notes up toRs.25,000, said joint secretary of nepal’s commerce ministry, Jeev Raj Koirala. Both countries are yet to work out modalities before the decision is put into practice.......

Read - Mint

Polymer currency notes needed in India

........It may be recalled that, in fact, Reserve Bank of India has been toying with the idea of introducing polymer currency notes for some time. A few months ago, RBI introduced polymer notes of Rs10 denomination in select cities in India, which included Mysore and Cochin in the south. The results of the market testing carried out by RBI have still not been made public. However, it must be noted, that, by and large, most of the counterfeit currency notes in circulation are in higher denominations of Rs500 and Rs1,000. It would have made sense if RBI had chosen to bring out polymer currency notes, for market testing in these denominations...........

Read - Moneylife

The skim scam

.....BC: And what about that email supposedly sent by the Reserve Bank of India Governor Raghuram Rajan? Did you read about that?

AD: I did, it was the one promising the recipient a couple of crores and asked for their bank details, wasn't it? But RBI did clarify that the mail was a hoax...............

Read - The Hindu

Soon banks will be graded - good, bad or ugly by a new regulator to foster service culture

........Banking Code and Standard Board of India (or, BCSBI), an arm of Reserve Bank of India( RBI), will issue grades like 'high', 'above average', and 'average to poor'. It could force banks to behave better and prompt annoyed customers unhappy with their bank to migrate to another shop. Also, banks that drag their feet to process applications or ask silly questions for opening accounts could lose customers.............

Read - ET

Bank branch expansion at a decade's high

.......Bankers say the government's financial inclusion programme that aims to provide banking services across 625,000 villages has also led to the increase in numbers of rural and semi-urban branches. “There are still a little over 300,000 villages that do not get banking services. Banks are expected to have presence across these villages in the next two and a half years. Hence, banks will continue to open more branches in these areas for the next few years,” ..................

Read | Business Standard

Card transactions safety: PIN, biometrics are the way forward

......There are two significant changes taken by the RBI to promote debit card usage. One is the reduction in the merchant discount rates in debit cards capped at 0.75 per cent and one per cent, depending on the transaction size. This reduces the merchants’ cost. The second is to make PIN a must for all debit card transactions. People who were traditionally spending in cash will start using debit cards............

Read - HBL

SBI to act as lead bank for four newly-formed Meghalaya districts

 The Reserve Bank has assigned State Bank of India (SBI) to act as the lead bank in four newly-constructed districts in Meghalaya. The four new districts created in the state are North Garo Hills, East Jaintia Hills, South West Khasi Hills and South West Garo Hills. The RBI also assigned SBI the district working codes for the purpose of basic statistical returns (BSR) reporting.......

Read - TOI

Allowing Islamic banking in J&K upto RBI: Chairman J&K Bank

..Former governor of the RBI, D Subbarao earlier this year after chairing a board meeting here said that RBI cannot allow the Islamic banking as Indian law does not permit it. He said it is for the lawmakers to bring a legislation which can allow interest free banking Islamic banking. However, the financial analysts say that chances for introducing the Islamic banking has increased after the appointment of Raghuram Rajan as new governor of RBI as he is having more positive view towards Islamic banking. A financial institute in southern Indian state of Kerala has been allowed to do banking as per Islamic Sharai few months back...........

Read.......

Don’t doubt RBI desire to fight inflation, reassures Raghuram Rajan

"........Nobody should doubt our desire to fight inflation and our belief that interest rates are our main tool that we have. Nobody should doubt that,........

Read...................

From eatery to meetup, entrepreneurs increasingly accepting 'bitcoins' in India

.....While bitcoin gains in popularity in India, entrepreneurs and investors say they are concerned about the RBI's stance on the digital currency. In August, ET had reported that RBI was "watching and learning" about bitcoins. On Tuesday, the RBI made clear its displeasure with virtual currencies, including bitcoin, saying they pose "significant financial and security risks". In a statement, RBI said bitcoin payments are not authorised by any central bank or monetary authority and that it...........

Read - ET...

RBI issues cautionary advice on virtual currencies

.....In its cautionary advice, the Reserve Bank said it has been looking at the developments relating to certain electronic records claimed to be “Decentralised Digital Currency” or “Virtual Currency” (VCs), such as, Bitcoins, litecoins, bbqcoins, dogecoins etc., their usage or trading in the country and the various media reports in this regard........

Read - HBL

VITALINFO - moment for joy

Dear Mangesh:

This is to convey our very best wishes to your son Harshal and his bride Vishakha for a joyous wedding and a wonderful marriage. Urmila and I wish them happiness and fulfillment as they start their journey together and pray that their union will be blessed with harmony, love, trust and understanding. This must be a fulfilling moment for you and your entire family.  Our congratulations to you on this happy occasion. Enjoy the fun and joy of the wedding celebrations.

- Subba (former Governor)

Dear Mangesh,

That was great news indeed. Much as I would have loved to view the maiden being bowled over by Chi Harshal, time, distance and pressure work deny me the pleasure of being with you all on the happy occasion. Our best wishes to the lovely couple and may they be healthy, prosperous and full of Joy - forever!! Best wishes

- S Ganesh Kumar

Dear Mangesh, I am very happy to hear the news of your son.  I am also very eager to attend the wedding but since my children are landing on the same day, i will not be able to join you on this joyous occasion.  May God bless the couple with all happiness throughout their life ahead. My best wishes to you and your family for the occasion.  My blessings to the couple also. With Warm Regards

- Pushkala Ranganathan

Dear Mr Tarambale,

Hearty congratulations on the eve of your son's wedding. My best wishes for Harshal and Vishaka for a long, peaceful, prosperous and happy wedding life. Best wishes to you and regards, Merry Christmas and very Happy new Year 2014.

- Yerram Raju

Dear Mangesh,

I am very happy to have your high tech invitation for your son's marriage. It is a very happy and wonderful occasion to rejoice and enjoy but  due to some personal inconveniences I am not able to participate physically. I wish the couple a very happy, prosperous and long married life. May God bless the couple always and in all ways for their blissful and long married life. 

– Dr.T.V.Gopalakrishnan

Dear Taramble ji, I am very happy to see that Harshal is getting married. Thanks for the invitation (the concept of e-card, with all minute details,  seems to be very innovative to me, and I like the way it is presented. Congrats to you and Ninad for the concept and execution). Our Blessings to the couple. I will try to attend the reception at Pune.

– Shrimohan Yadav

Dear Tarmbaleji, Hearty greetings!! Many thanks for the invitation. Unfortunately, it would be difficult to make it since I would be elsewhere due to an official work during that time. Our best wishes to Harshal on the happy occasion.Regards, -

- V G Sekar General Manager Jaipur

Thanks Tarambale for the marriage invite. As I will be travelling to Bhopal for a vacation and returning only on the 30th night, I will not be able to grace this auspicious occasion. However, we wish the young couple the very best in their married life. Please convey the same to them.
Wish you also all the best for the successful completion of the function.
Thanks and regards,

- Anand Amin

Dear Mr. Tarambale, Thank you for the marriage invitation of your son Shri Harshal on December 28, 2013..  We would request you to convey our heartiest blessings to the newlywed couple for a long and happy married life.

– Amar Pahujani

Thank you very much for the invitation of the marriage of your son. I could see it only today as I was down with high fever I could not open my computer. It is a great thing to see such an invitation. It is really wonderful. I think so far no body has  made such an invitation for the marriage of their beloved son. Mangesh, You are really great and you continue to be the greatest. I am really sorry for the delay to respond. I am still in bed. Really, we want to make it for the Pune reception. I do not know whether it will be possible and whether I will be recovered by that time. Our best wishes for the couple in advance. May God shower His choicest Blessings on the Couple. We wish Harshal and his bride a long happy, healthy married life and also all wishes for the Tarambale family for the happy wedding. Please let me know when you reach Mumbai.

- Vasudevan Nair

Dear Mangesh,

A wedding in one's family is surely an occasion to rejoice. Our family is bound twice over by RBI link and now by VITAL INFO link. We would have gladly liked to attend the happy event. BUT the spirit is willing but alas the flesh is weak. Although we may not be there physically, we assure you that our heart and soul will be there to bless the bride and groom. May God shower on them long happy married life. Incidentally, do not orphan us by abandoning VITAL INFO.

- B. Kamath CGM retd

Ekdam mast invitation. Great idea. Thanks. I will not be able to attend either of the functions as my friend Rajani Kulkarni's (HRMD) daughter is getting married on 28th followed by reception on 29th. I am really sorry. Pl excuse for the same and convey my best wishes to the couple. Once again thanks for the invitation. Regards

- Vibha Rege 

Thank you so much for the kind invite and heartiest congratulations. I pray to God to shower his choicest blessings on the young couple and make the function a grand success.

- Jayshree

Dear Sri Mangesh, May the choicest blessings be showered on the Couple. We are grateful  for your invitation. Warmest regards

- Jayaram Nayar

Dear Mangesh, I am highly thankful to you for sending me your very kind invitation to attend the auspicious marriage ceremony of your son, Chi Harshal. Though I regret that it will not be possible to attend the ceremony at Pune on 28th December, I shall be mentally present and celebrate the occasion. I wish the would-be bride and bridegroom all the very best in the beginning  of a happy, blissful  and healthy conjugal life and also congratulate you for soon becoming the father-in-law of a lovely bahu, Vishakha, who will fill your household  with all joy and happiness all around. With hearty congratulations. 

- Prabal  Sen

Hi Mangesh,

Congratulations for the marriage of Harshal. My blessing for the newly weds. I know it may be perhaps a bit difficult to manage the Vitalinfo from Mumbai where you will be burdened with more responsibilities in your official capacity but not impossible and I am sure you will continue this venture for the benefit of all your well wishers. 

 – Kuldeep Wadhwa

‘RBI cakes’ a hit every Christmas in Kolkata

.........A co-operative canteen, run by the RBI employees union, buys X-Mas cakes from Howrah in bulk to sell it amongst its employees. “With years the cake became so popular that street vendors also started buying it from the same bakery in Howrah and branded it as “RBI cake,” an RBI canteen staff told PTI. Sushanta Nath, president of the Reserve Bank Employees Association, said the cakes are very popular due to its taste and price...............

Read...........