The current account deficit of India's high

Speaking at the 26th meeting of the Group Finance Association South Asian Regional Cooperation (SAARC FINANCE Group), by the State Bank of Pakistan has hosted in Islamabad, Mr Deepak Mohanty, director of the Federal Reserve Bank India (RBI, the country's central bank) said that India must increase exports in response to the challenges of the current account deficit (CAD) is present at high levels. ..........

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RBI prepares ECB balm for corporates battered by rupee

........The RBI has been in consultations with the finance ministry in this regard, including on the risks involved in unhedged ECB exposures of companies and its impact on the stability of the economy, sources said. Currently, ECB is allowed mainly for capital expenditure towards new projects and capacity expansion. However, with the RBI permission, capital expenditure incurred in rupee can be refinanced through such foreign currency loans..............

Read - IE

Chidambaram calls for calm

......“We are watching the situation. The RBI will take whatever action it has to take. We have good economic advisors. We will [do] whatever has to be done ... My request is you should not react in panic, it’s happening around the world.”.........

Read - The Hindu

RBI, finance ministry comments prop up rupee

.....“The RBI came in strongly to protect the rupee from falling below 60 per dollar yesterday (on Thursday) and that has clearly drawn the line for the market. Also, there have been positive comments from the finance ministry and RBI since morning which has nudged banks to cut their long dollar positions. We expect exporters to also sell dollars at these levels,”..................

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RBI to take every necessary step to stem rupee fall, says HR Khan

Amidst rupee touching new life- time lows, Deputy Governor HR Khan today said the Reserve Bank will take every step required to stem the plunge of the domestic currency. "We are watching and monitoring the situation.All steps that need to be taken will be taken," Khan told reporters on the sidelines of an event organised by the National Payments Corporation (NPCI) here...........

Read | Business Standard

Private banks mull exit from gold coin business

..........RBI has imposed restrictions on gold imports by banks. Hence, we are discouraging sale of gold coins in our branches. For all practical purpose, the business is as good as suspended," .........

Read | Business Standard

Trade urges Govt to ease gold supply shortage

............. “If corrective measures are not taken, this Rs 275,000-crore industry would be brought to its knees. It will be pushed back to early 90s when much of the gold need was met through unofficial channels including smuggling,” ....

Read | Business Line

फाइनेंशियल इन्क्लूजन बैंकों के लिए मौका

......रिजर्व बैंक के क्षेत्रीय निदेशक आर रवि मोहन ने कहा कि आरबीआई के निर्देशों के मुताबिक वित्तीय साक्षरता परामर्श केंद्र प्रत्येक जिले में जिला विशेष के लीड बैंक द्वारा जिला प्रबंधक कार्यालय या आवश्यकता होने पर अन्य स्थानों पर भी खोले जाने हैं। बैंक इस ओर विशेष रूप से ध्यान दें।  इसके साथ ही वाणिज्यिक बैंकों की ग्रामीण शाखाओं को हर महीने एक वित्तीय साक्षरता गतिविधि करनी है जिससे कि आम आदमी सिर्फ बैंक एकाउंट खुलवाने तक ही सीमित न रहे बल्कि बैंक के साथ जुड़ कर कुछ व्यावसायिक गतिविधि भी शुरू कर सके।..........

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Change for the better?

...................... Despite his attempts, there are times when customers get away with giving him short change. “If only our notes had Braille numbers!” says Nagaraj. How friendly are our rupee notes and coins to the visually-impaired? “I find it difficult to differentiate between the present Rs. 5 and Re. 1 coins. They have the same size. Sometimes, I have to take someone’s help to identify them,” says R. Vijaykumar, a visually-impaired M.Phil student. “In the past, coins were all of different sizes. Rs. 5 coins, for instance, were thick. That made life a lot easier for us.”.............

Read | The Hindu

Coin-troversy

 The Reserve Bank of India recently released a coin in the denomination of Rs. 5 to mark the silver jubilee of Shri Mata Vaishno Devi Shrine Board (SMVDSB). No sooner did the coin go in circulation than its secular credentials came under heavy scrutiny. Members of several communities have taken umbrage at the religious overtones of the legal tender, and plan to stage a protest against it...........

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'Executive' appreciation for VITALINFO............

RBI GOVERNOR Has Sent Me Rs. 4.21 Crores

You may be surprised or even envious to know that I am going to become a CROREPATI from BHIKHARI.  My long standing dream of becoming Crorepati has at last come true by the intervention of our India's esteemed bank, RBI. An e- mail from RBI would grant me Rs. 42,168,524.50  on the condition of making a payment of Rs. 12,362 and provision of my personal bank details. E-mail is from Ma'am Angel D' Souza of RESERVE BANK OF INDIA..........

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New-age Tech Facilitates Customer Care

.........At India’s second-largest private lender HDFC Bank, for instance, a customer applying for a loan only has to submit account credentials through a smartphone using the bank’s customer-support platform. The system, which incorporates all information pertaining to the customer, will analyse the credit background instantly and accept the application through the touch-based screen on the mobile phone. Using predictive analytics tools, the system also offers new services to existing customers based on their previous credit history. “Potentially, a man with a smartphone will have the same capabilities as an entire bank branch.........

Read - ET

De-jargoned: Shadow banking

....Since operators in the shadow banking system can be highly leveraged, they could face liquidity crisis which can very soon turn into a solvency crisis. Since institutions in the financial sector are interconnected and interdependent, failures in the shadow banking could also pose a systemic risk. Therefore, it is important that regulators are alert and.............

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Why our bankers are like Gabbar Singh

...............Indian Bankers are the Gabbar Singh of today. Like Gabbar, they sense the macro opportunity of a vacuum. In Gabbar's reign there were few cops to challenge him and he could rule the ravine. With no legitimate law enforcement, Gabbar was the law. No one could touch him but he could knock off anyone, even members of his own gang. Our banks know the great macro story that gets harped from North Block to Mint Street: India needs more banks.............

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Can KYC sanitize Indian banks?

...........On a macro level, the KYC lapse is a problem of corporate governance. While the RBI has done its job well and would continue to do so, it's also the responsibility of the stakeholders to ensure that corporations are being transparent and honest and that the management does not engage in unethical practices that would prove detrimental to the vested interests............

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The slow regress in banking

.....The process of liberalisation having begun, the loss of the RBI’s control and the restoration of private influence over banking is difficult to stall, let alone reverse. Perhaps for that reason the RBI has not kept its promise, made in the February guidelines, to come out with an overall policy discussion paper on banking structure in India within two months. Realising that structure may not be possible. All that the RBI has managed to do and is likely to strive to ensure is that the transition is slow and long drawn, much to the irritation of the “reformers”............

Read | Frontline

How private are public banks?

.......This suggests that in terms of equity ownership and business behaviour, India’s public banking system is only a short step away from coming under private control, though that would require the revision of the principle mandating at least 51 per cent government ownership of equity in public sector banks. If such a change comes about it would have a far greater transformative effect on Indian banking than would the entry of new private banks at the margin. So while the response to and after effects of the third call for bank licences from the private sector is a matter for concern, the real danger may be the creeping trend towards denationalisation which would completely erode the many benefits that public banking delivered.

Read| The Hindu

Aadhar will bring transparency in the banking sector: Latha Venketesh

......I should think aadhar will bring some transparency in the banking sector. Assuming your fingerprints cant be duplicated, all you bank accounts will be known and it should be possible to track black money as well. Again people with credit card loans can't go around to different banks and keep taking more cards and more loans.......................

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It was business as usual for NBFCs despite Crime Branch raids three years back

.......Not only CB, in July 2009, the Reserve Bank of India (RBI) had also warned all nationalised and private banks not to have accounts of 10 MMCs including..........

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