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| The President, Shri Pranab Mukherjee releasing the Commemorative Coins at the Special Convocation of Banaras Hindu University to Mark the Concluding Ceremony of Birth Centenary of Mahamana Pandit Madan Mohan Malavia, at Varanasi, Uttar Pradesh on December 25, 2012. The President of Nepal, Dr. Ram Baran Yadav is also seen |
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.
Thursday, December 27, 2012
Commemorative Coin
Fake notes that fooled currency detector
..........“We were shocked when we learnt that a bank had accepted the counterfeit currency. Initially, we suspected some bank employees. “But when we met local RBI officials with the recovered cash, they told us that 14 out of the 17 security features matched the counterfeit currency. Even they were shocked,” ..........
High Mark fallout: Vepa Kamesam resigns from the Board
.....Vepa Kamesam, one of the most high profile directors has resigned from the High Mark Board. However, it is not clear as to what would happen to the 1.63 lakh shares that Mr Kamesam was allotted. Mr Kamesam, a former Deputy Governor of the Reserve Bank of India (RBI) was one of the four directors who, along with Prof Anil Pandya, chairman and founder-director of High Mark, bagged 70% of the employee stock ownership plan (ESOP). Mr Kamesam was allotted 1.63 lakh shares in the credit bureau as ESOPs........
Obituary
Mr. K. Kanniappan, Retd. Dy. Manager (NABARD), RBI, Chennai passed away on 25.12.2012. Phone: 044-2628 2892 / Mobile: 94444-45799 / 98841-81124
Banks to have one branch per 1,000 people for direct cash transfer
.....“It shall be the endeavour to ensure that there is at least one bank branch / BCA in every gram panchayat(s). Since the population of gram panchayat varies across the states, banks need to ensure that about 1,000 to 1,500 households are available in the sub-service area of BCA,” the finance ministry said in a circular to public sector banks and regional rural banks...........
SREI to install 25,000 ATMs in rural India
....The final plan will be subject to RBI approval. These CSCs are being set up under the government’s plans to bridge digital divide between rural and urban areas,.....
PSBs might miss the CTS deadline
..........According to Hota, most banks started their procurement procedure after the government directive for the CTS rollout had come. It will take minimum 10-15 weeks to deliver the equipment and there are only a limited number of vendors offering such equipment. “These factors are delaying implementation of CTS and we are trying to meet the deadline,” said Hota. While banks are supposed to complete issuing new format cheques to customers by March 2013, the deadline for complete migration to CTS 2010 is December 2013.
C Rangarajan to inaugurate banking expo
Former Governor of Reserve Bank of India and chairman of the Prime Minister's Economic Advisory Council, C Rangarajan, will inaugurate IBEX INDIA 2013, India's only trade exhibition and conference for banking technologies at the Bandra-Kurla Complex, Mumbai on January 17. The exhibition will be open till January 19 2013. Rangarajan will also deliver the keynote address on January 17 on "Delivering Technologies for Innovative Banking", which has been structured to discuss a spectrum of issues across all banking functions that are of relevance to the Indian banking sector........
Banking on competition
...... In fact, the competition energised public sector banks to get their act together and advance in terms of technology and staff upgradation, designing and delivery of new products and services. It is in this context that the entry of more new banks – as a consequence of the latest amendments in the banking laws – will add to the competition and improve overall banking in the country............
Breaking the bank
........RBI might want to relook the loan classification rules to make them tighter and ensure adequate provisioning. As it is, agencies like Moody’s are convinced that the asset quality of Indian banks is set to worsen and more important, that the provisions for such potential slippages are inadequate. However, it is in the prevention that the solution lies; banks need to arm themselves with better credit appraisal skills and ..........
Amended legislation paves way for new banks in the next year
.....The development injected new life into the sector which has been struggling to cope with rising bad debts and pressure on the bottom line in the wake of global slowdown that also affected the performance of the Indian corporate sector.........
Of debt and distress
.....Although RBI has realised that banks are not setting aside enough capital to take care of potentially toxic assets and the fact that promoters have got away with too small a sacrifice in the restructuring packages—the observations of a panel set up by it suggest this—there has been little action on this front so far. In any case, tougher norms will help only in the future; for now, the damage has been done...........
HSBC denies hawala charges
......HSBC has also been accused of running illegal banking operations through its Dubai and Geneva arms. RBI had given HSBC a month to respond. Mr Thakur said he was dissatisfied with HSBC’s response and would petition the RBI again. “The core issues raised in the complaint initially are still completely untouched and unanswered,” said Mr Thakur. The police are now seeking the intervention of the RBI governor for a threadbare probe into the bank’s dealings in India.
Seizing the India opportunity
.....Only 40 per cent of India's 1.2-billion people have bank accounts. Of India's 600,000 villages, only 30,000 have direct access to banks. Penetration of other financial services products such as life insurance, mutual funds, brokerage accounts, and so on, will show even lower penetration levels compared to many other markets.......
'No relation between RBI's OMO and disinvestment'
The Department of Disinvestment has said that the impression created by the news item "Did RBI's OMO help govt's NMDC selloff?" is not correct. Reserve Bank of India (RBI) is an independent banking regulator who regularly conducts OMOs (Open Market Operations) as a normal tool of monetary policy as per its analytical mechanisms and policy decisions...........
Karur Vysya Bank open to acquisition, if it’s a right fit
.....“We don’t want to be an acquisition target… Moreover, beyond 5 per cent shareholding Reserve Bank of India's permission is required… The RBI does not encourage unfriendly acquisitions.”......
Wednesday, December 26, 2012
Roti, kapda, makaan and bank account
.........This leads us to the question of financial inclusion. With over half the Indian population still excluded from the nation’s formal financial system, the need for several strategic steps is imperative. Numerous steps have been taken in the six years since the government initiated the process of financial inclusion in a big way. The Reserve Bank of India (RBI) has recently mandated Regional Rural Banks (RRBs) to ensure that one-fourth of their proposed expansion is in unbanked parts of India..............
चिल्लर पर चिकचिक खत्म, अब मत लीजिए खुल्ले के बदले टॉफी!
इंदौर। आरबीआई ने इंदौर की सात बैंकों को करीब 50 लाख के सिक्के भेजकर इन्हें तुरंत जनता तक पहुंचाने के निर्देश दिए हैं। साथ ही यह चेतावनी भी दी है कि यदि कोई बैंक सिक्के बांटने में लापरवाही करता है तो उसके खिलाफ सीधी कार्रवाई की जाएगी।
चिल्लर के बदले टॉफी नहीं चलेगी
शहर में चिल्लर के बदले टॉफी-चॉकलेट देने की समस्या पर ‘भास्कर’ ने अभियान चलाया था। आरबीआई के अनुसार इंदौर में स्टेट बैंक ऑफ इंडिया की स्कीम नंबर 54 एबी रोड ब्रांच को 6 लाख, जीपीओ ब्रांच को 5 लाख और वायएन रोड ब्रांच को 7 लाख रुपए के सिक्के भेजे हैं। इसी प्रकार आईसीआईसीआई और एचडीएफसी को दस-दस लाख और बैंक ऑफ महाराष्ट्र बैंक को 3 लाख रुपए के सिक्के बांटने के लिए भेजे गए हैं। भास्कर’ को जानकारी देते हुए आरबीआई भोपाल के मैनेजर राजीव नारंग ने बताया कि समस्या से निपटने के लिए अभी तक आरबीआई ने बैंकों को पूरे प्रदेश में करीब 40 करोड़ रुपए के सिक्के बांटने के लिए भेजे हैं। कोई भी लिंक ब्रांच अपनी करंसी चेस्ट ब्रांच से जरूरत के मुताबिक कभी भी सिक्के की मांग कर सकती है। लगातार जो सिक्के भेजे जा रहे हैं उन्हें बांटने में यदि बैंक पारदर्शिता या उत्साह नहीं दिखाते हैं तो शिकायत मिलने पर कार्रवाई की जाएगी। नौ लाख के सिक्के जिले के ग्रामीण क्षेत्रों की बैंकों को दिए गए हैं। अधिकतर जगह शुरू हुआ वितरण- एसबीआई के डिप्टी जनरल मैनेजर अनुकूल भटनागर के अनुसार जीपीओ, वायएन रोड, स्कीम नंबर 54 ब्रांच में सिक्के बांटना शुरू कर दिए हैं। जरूरतमंद सिक्के ले सकते हैं। आईसीआईसीआई के स्थानीय अधिकारियों के अनुसार मालव परिसर ब्रांच से बैंकिंग समय में सिक्के प्राप्त किए जा सकते हैं। बैंक ऑफ महाराष्ट्र के सीनियर प्लानिंग मैनेजर आरके अठवासिया के अनुसार सभी ब्रांचों में सिक्के भिजवा दिए हैं। ग्राहक किसी भी ब्रांच से सिक्के ले सकते हैं। इसी प्रकार एचडीएफसी की भी विभिन्न ब्रांचों से सिक्के प्राप्त किए जा सकते हैं। ‘आरबीआई ने ग्राहकों से यह भी अपील की है कि वह किसी भी हालत में खुल्ले के बदले जबरन दी जाने वाली वस्तु को स्वीकार न करें क्योंकि बाजार में चिल्लर की कोई कमी नहीं रह गई है।
सिक्के नहीं मिलें तो यहां करें शिकायत
रीजनल डायरेक्टर मप्र रिजर्व बैंक ऑफ इंडिया होशंगाबाद रोड
पो.बॉ. 32, भोपाल- 462011, फोन नंबर- 0755-2552242, 2553179
फैक्स-0755- 2578299, ईमेल- rdbhopal@rbi.org.in
Kochi to reel under coin shortage
.....If the coin counter at RBI is closed, bus services, supermarkets, retailers and hotels and restaurants will be badly hit as most of them depend on the RBI counter for coins and currency of small denominations. “Private bus services will be the worst hit as only very few passengers tender the exact change. The RBI should withdraw the decision”, said Private Bus Operators Association president M.B. Sathyan. The RBI Kochi office, with five public counters, has been dispensing coins of Rs 1, Rs 2, Rs 5 and Rs 10 to the public. “Due to shortage, distribution of Rs 5 coins has been restricted now. All other denominations are available every day.....
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