..........“We are positively inclined toward growing our presence in India under the new regulations, though the size and manner of expansion are details that are yet to be determined,” said Sanjiv Bhasin, chief executive of the Indian arm of DBS, a Singaporean bank. “At this time, any sizable global banking institution cannot ignore markets like India, China and Indonesia. It is question of the priorities of each respective bank and when it is a suitable to enter the market for that institution.”..........
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.
Saturday, November 9, 2013
Fewer, Bigger Banks Needed
This
refers to ‘Public Sector Banks Need Urgent and Bold Reform’ (ET, Nov
8). Consolidation in the PSB space requires political will, which is
missing. Agreed, even the smallest PSB now has total business of around .
2 lakh crore and a fairly large network, and merger with other banks
is not an easy proposition. But for a sound and vibrant banking system,
we need to have fewer strong banks instead of many smaller banks. A
beginning can be made by merging identified small banks with their
bigger cousins so the merged entity gains reach to acquire pan-India
presence.
- SRINIVASAN UMASHANKAR, Nagpur (ET)
- SRINIVASAN UMASHANKAR, Nagpur (ET)
RBI's foreign bank norms signal prospect of more reforms: Fitch
........"As such, the recent rules are a good beginning - but insufficient, by themselves, to shake up the domestic banking landscape. But what it potentially signals is that further banking reforms - currently being considered - are not too far off," ..........
Reduce regulatory burden to attract investors to India - Naina Lal Kidwai
.......Despite important economic reforms since 1991, regulatory burden on Indian businesses is real and these issues need to be resolved to realise our growth potential. The report of the Committee for Reforming the Regulatory Environment for Doing Business in India (or the Damodaran Committee report) agreed that there were hurdles and said: “The seemingly mindless explosion of regulations, impacting seriously on management time and cost has created a negative perception of the regulatory environment in which business is conducted”............
RBI permits third party payments for export, import transactions
.............Among the key conditions RBI said that for export transaction firm irrevocable order backed by a tripartite agreement should be in place while for import transactions firm irrevocable purchase order / tripartite agreement should be in place.......
IIMA’s biz summit to host Vinod Rai, C Rangarajan
.......The duo are slated to speak at the session titled "The Global Turmoil and India Story", which attempts to reflect upon the turbulent times that have beset the country and the resulting uncertainty in corporate decision making, at IIMA.....
Bonds to the rescue?
......What are these bonds? Has this idea come up from the Reserve Bank of India’s restrictions on bank finance to the sector like the 80:20 order? Again, are these bonds mooted on the Singapore pattern? The last 2-3 Central budgets have been earmarking substantial allocations for roads, highways, airports and ports based on the policy of encouraging infrastructure development, which is fundamental to overall economic development. However, because of budgetary constraints and the growing current account deficit (CAD) as also ......
Allow municipal bonds to be traded: Assocham to RBI
.......In a note submitted to the Reserve Bank of India (RBI), the chamber has stated that as pace of urbanisation gathers momentum and new cities are created as a consequence of industrial corridors, need for creating such municipal bond market will be of necessity...........
AMBEA concerns
......In a statement, the association said if the government does not initiate necessary steps at the earliest then it is likely that the Reserve Bank of India (RBI) may cancel the license of the bank whose normal functioning has been paralyzed due to the absence of CEO......
Govt drawing new roadmap for boosting services exports
..........On data collection, Kher said, the Kolkata-based DGCI&S will be the anchor and will be responsible for capturing data from three sources -- the RBI, the survey based exercise which Central Statistical Organisation and DGCI&S would do together and all other methods of collecting data......................
DCC bank polls: Congress wants nominations rejected
.........“An inquiry by the Joint Registrar of Cooperative Societies had proved that the bank had violated several provisions of the Act. It had introduced a one-time settlement scheme for loans without the permission of either the National Bank for Agriculture and Rural Development (NABARD) or the Reserve Bank of India. The bank had waived the principal amount of loans of several defaulters in violation of guidelines. It was also found that the bank had repeatedly advanced loans to Naranja Sahakari Sakkare Karkhane, which was a regular defaulter,” Mr. Ali said.....
Vighney, Nikhat take the honours
Hyderabad : P. Vighney Reddy of Reserve Bank of India and Nikhat Banu of Gujarati Seva Mandal won the men’s and women’s singles titles in the Swami Vivekananda 150th birth anniversary State-ranking table tennis tournament here. Vighney defeated Somnath Ghosh (SCR) 11-7, 11-5, 11-4, 11-4 in the men’s final, while Nikhat overcame A. Sreeja (GTTA) 11-5, 11-6, 11-9, 11-9, 11-7 in the women’s final.
The Hindu
Friday, November 8, 2013
Balancing Act for India’s Top Banker
His track record in his two months in office suggests a reluctance to embrace the monetarism for which the University of Chicago economics department has been known, while he has embraced limited financial deregulation. Along the way, he has avoided any signs of doctrine, preferring to see the results of each move before acting again. “I’m willing to be persuaded by the data,” he said in an interview at the central bank, in a wood-paneled reception room with one wall lined with the portraits of his predecessors............
Portrait of the real Rajan
My View on "How RBI Governor Raghuram Rajan has quietly assert...":
The cover story “His Own Man” together with the excerpts from the October 29 interview given by RBI Governor Dr Raghuram Rajan (Business Today, November 24) has crisply and clearly portraited the real Rajan whom different people are perceiving differently, depending on their ‘constituency’ interests. It is comforting to find that Rajan is as forthright in expressing his views post- September 4, as he was when he wrote his book Fault Lines. Putting it differently, those who have read Fault Lines will not be shocked by his approach to issues as expressed in his responses after he took over as RBI Governor. In August this year writing for The Global ANALYST, I had made the following comments about Rajan:
“The FM who put his Secretary Dr D Subbarao as the Governor of RBI hoping to have a submissive Governor found a different person in Subbarao soon after he started functioning from Mint Road. In that context, perhaps, the FM is going to be ‘second time’ unlucky…”
We are lucky to have institutions like RBI which have grown with work ethics and skills that match with the best in the world. For allowing this to happen, we must thank our political leadership which put national interests above anything else, whenever issue at stake was country’s prestige.
- M G Warrier, Mumbai
FinMin brings back lateral transfer of CMDs in govt banks
The finance ministry has shortlisted the names of executive directors who are likely to head public sector banks in 2014-15. Six public sector banks will see their chairmen and managing directors retiring in 2014-15, which are Bank of Baroda, Indian overseas bank, Canara Bank, Oriental Bank of Commerce, Vijaya Bank and United Bank of India. The selection panel comprising Anand Sinha, deputy governor, Reserve Bank of India and Rajiv Takru, secretary, financial services in the ministry of finance, among others, interviewed 19 executive directors last week...........
Head and heart nicely captured..............
My View on Salaam to Salim's HR vision
 |
| File photo - Fare-thee-well - Shri Salim Gangadharan |
Beena has captured the qualities of head and
heart possessed by Salim excellently well in this short note. Myself having
been a miser all through in appreciating others, when looking forward to the
wrong side of seventy, feel that many of us are ‘lavish’ in criticism and do
not speak out when we observe good qualities in our bosses and colleagues.
Though I had no occasion to work with Salim, he is a good friend and I have
enough reason to endorse Beena’s comments, as I have been in touch with him
since a long time and if he is retiring as RD, Thiruvananthapuram earning the love
and affection of the entire RBI Family (including retirees and family
pensioners), that itself is proof for his friendly and affectionate
relationship with colleagues and management skills. I wish him the very best in
his second half of life.
- M G Warrier,Mumbai
I am proud that Salim is a great friend of
mine. Salim is very different from many others I have met and interacted. He is
rational and very social as his name itself indicates. A real HR development
executive. I am proud that we were together as Faculty Members in BTC along
with Jayaram, Mahapatra(s), Vijay Bhaskar. We introduced the concept of more
than two FMs handling a training session jointly. It was a hit and a golden
time for all of us and also all the participants of various programmes. He was
an expert on bank supervision, an expert in forex, a democratic leader et all -
in fact an all rounder. I wish him my best wishes for an active life.
– P.Aravindan
Salim a true friend and a learned
guide. Thank you P.Aravind for reminding about BTC.
- Jay
Salim Sir, I would also like to wish you a
happy retired life. I, however, wish to add, that the years of retirement can
and should mean a world of new opportunities. The world is still your oyster,
you are not the guy, who will, post retirement, retire to a cloister as your
body, mind and spirit are still full of sap and moisture.
- A well wisher
Dear Salim,
I had missed your date of retirement and then
got busy in our local Durga Puja and Diwali celebrations. At the outset, I take
this opportunity to wish you and your family a very Happy Dusherrra and Diwali
and also wish you a happy, healthy and peaceful re-tyred life (sic) as because
a man of action like you can never sit idle and must be engaging yourself with
some innovative and self-actualisation activity, which would have been
otherwise got suppressed under the weight of routine official duties. Your
qualities of head and heart are well known at least to me who have seen you
since 1980s in Kolkata (the then Calcutta). Let me wish you All Well once again
and please keep in touch in the retired RBI-ites club, so that we can share our
joys and sorrows of living in the days to come.
- Prabal Sen, Kolkata
I had the privilege to be associated with Salim
sir for about 5 years during his stint in FED, CO. He was a natural teacher
which held him in good stead during his faculty stint at BTC. He would always
break down the complex regulatory/prudential/ accounting issues into simple
concept and would moderate his articulation to suit the audience absorptive
capacity. His contributions to every spheres of central banking like banking
regulation and supervision, capital account management, treasury or market
products like currency futures are well documented in the various committees he
headed or was associated with or his lectures as a faculty in BTC. He was a
task master to the core and would optimise the given resources by identifying,
nurturing talents, delegating power and responsibility, encouraging independent
decisions, but at the same time being steadfastly behind his people in every
decision or action. His firm belief at all time was that “One alone cannot
achieve everything, it’s only as a team with people around you, one can achieve
remarkable feats”. He motivated others with his passion for work and there was
no way the team under him would not excel. He had deep rooted compassion for
people which emanated from his belief ‘Do good to others and Good will come
back to you”. Humility wrapped his persona as a second robe and made him
popular figure in RBI, culminating in remarkable tenure as Regional Directors
in Kolkatta and Thiruvanthpuram.
2. As his innings with central bank has come to
end, his next innings on the larger canvas of life beckons him. Wishing him
success and healthy stint in his endeavour to give back to society all that
society has given him over the years.
- Harsh
Photo courtesy : Sajid, Mohammed P, Assistant General Manager, Thiruvanantpuram
Photo courtesy : Sajid, Mohammed P, Assistant General Manager, Thiruvanantpuram
Inauguration of academic block
Mangalore : G. Gopalakrishna, Executive Director, Reserve Bank of India will inaugurate the academic block of Nitte Institute of Banking and Finance, Deralkatte, at 10.30 a. m. on Saturday. The institute, under Nitte University, has been established to promote academic programmes, specialised training in banking operations and provide research and consultancy services to the banking Industry. Chairman and Managing Director of Syndicate Bank Sudhir Kumar Jain and Chairman and Managing Director of Corporation Bank S.R. Bansal would be the guests of honour.
Hindu
Cheque clearance made easy in Bhopal
BHOPAL: Eliminating the need for physical movement of cheques for clearance, new cheque truncation system (CTS-2010) went live in the city on Wednesday. After Mumbai, Bhopal became the second centre in the western region to be introduced to the new way of banking. Reserve Bank of India (RBI) Regional Director J B Bhoria said through CTS-2010, electronic images of cheques carrying key information will be captured and transmitted...........
HDFC Bank launches rural financial literacy initiative in Kerala
......HDFC Bank will conduct financial literacy camps in 39 rural and semi-urban branches across Kerala. As per instructions from the RBI, these branches will serve the Malampuzha block in Palakkad district and the Mathilakam block in Trichur district of Kerala. The camps will enable both adults and school children from 234 Panchayath wards in 26 villages to attain a conceptual understanding of financial products and services. ...........
Is bank liable if client is robbed in branch?
Can a bank be held liable if a customer is robbed inside the bank premises, but before he has deposited cash with the cashier? The National Consumer Disputes Redressal Commission (NCDRC) has delivered conflicting verdicts. In a recent judgment NCDRC ruled that......
Subscribe to:
Posts (Atom)