Chennai: The Reserve Bank has asked banks to develop cost effective village branch model in order to promote financial inclusion. "Indeed, I think there is a strong case for a much larger effort on innovating a cost effective village branch model," RBI Governor D Subbarao said .........
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Friday, July 6, 2012
RBI asks banks to innovate cost effective village branch model
Chennai: The Reserve Bank has asked banks to develop cost effective village branch model in order to promote financial inclusion. "Indeed, I think there is a strong case for a much larger effort on innovating a cost effective village branch model," RBI Governor D Subbarao said .........
‘RBI outreach programme yet to make an impact at the grassroots’
The outreach programme of the Reserve Bank of India is yet to make any big impact on the target audience. The RBI Governor, Mr D. Subbarao, in his oration at IOB’s Platinum Jubilee function, said, “The actual benefits of the programme, aimed at financial inclusion, have not reached the backward communities in villages, which were the real target,” he said...........
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Pension - updation - tension - RED SALUTE 2 RBI CHENNAI COMRADES !
July 5th 2012 witnessed a big crowd at the entrance of RBI CHENNAI buildings demanding PENSION UPDATION mainly among other issues. On behalf of all the members of both RBICF and EXR I thank the moderators S/S CHANDRIAH AND MADAN GAURIA for the efforts they took in organising the members of the demostrations. At 8-30A.M many retired and serving comrades gathered at the entrance. I will failing in my duty if I do not mention Shri Nair who was very much ahead of time and virtually the reception committee at the gate. The number swelled and we could see a float of many white and white cars stremaing in and many of top executives in full suit came into attend the Board Meeting. S/S Sameer Mahadik and AG came and the members were excited to see the leaders. At 9.30 A.M our Governor Dr.D. Subbarao called in all the representatives and assured them of positive outcome in the near future. The leaders addressed the gathering.Com Sameer made an excellent speech and COM AG thanked all those who present so early on a scorching Thursday in Chennai. Chenani leads the way once again. RED SALUTE 2 RBI CHENNAI COMRADES !
- S.Venugopalan, 7-A, Prashanthi Apts.
T.M.Maistry St.Vannandurai, Chennai - 600 041
Ph: +91 44 42151321
RBI board meets to review economic scenario
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| RBI Governor D Subbarao (C) chairs the RBI Board meeting in Chennai |
Chennai : The Central Board of the Reserve Bank of India met here today to review the key economic, monetary and financial developments. RBI Governor D Subbarao chaired the meeting held at the Reserve Bank's Regional headquarters.....
Need to revolutionise banks’ HR management
....While we are facing a crunch of manpower – can we use our retired people in some way – we are paying them pension and reasonable medical benefits already – can some contracts not be worked out for them? Again, can we not provide some empowerment to them to leverage on their inherent loyalty? They could be useful in brand building efforts, or perhaps, in our financial inclusion initiatives. It is, definitely, an avenue that could be explored.........
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Managing gold, a policy challenge - K Kanagasabapathy
The RBI can learn a trick or two from Turkey in order to absorb gold into the financial system, thereby turning it into a productive asset
Rajendra Prasad's bank a/c kept alive after 50 yrs
.....Prasad's account is perhaps the only bank account in the country which is not only open and functional but also seen interest income being added to it . Usually after the death of a bank account holder, the money in there is passed on to the legal heirs on completion of certain formalities. Gupta said no one has come till date to claim for the money........
RBI for customer-friendly savings bank deposit rate policies
....“The big banks have yet to respond to this...Reserve Bank looks forward to more active play in the Saving Bank segment with banks coming out with some customer friendly innovations especially aimed at attracting low income households, presently outside the banking sector,” ........
RBI vision document on payments: An evaluation
.....it is commendable that RBI has released a payments vision document. Such a document gives an opportunity for us to understand the mind of a government agency, and discuss and debate its priorities and actions. But writing a vision statement is a chance to step away from the familiarity of set ways and ask the big questions. RBI should not squander this opportunity.
Is There a Problem with RBI’s Communication?
Twice bitten, now shy: RBI keeps close watch on inflation
Even after entering a rate reversal cycle, the Reserve Bank of India (RBI) is refusing to give up on its fight against inflation. Caught off-guard on inflation projections in the past two years, it is maintaining a hawkish stance. Yesterday, RBI Governor D Subbarao said the central bank was "deeply sensitive" to the problem. "We are committed to bringing inflation under control. It has been our effort over the last two years and will continue to be our effort," he said.......
Improving the domestic payment system
The Royal Monetary Authority (RMA) will tie-up with the Reserve Bank of India sometime between the third or fourth quarter of this year, on the cross border connectivity to enable the shared payment network. This plan falls under the Bhutan Financial Switch (BFS) project, which is being done in collaboration with all the commercial banks and the RMA.........
India has scope to cut government borrowing: R Gopalan
India still has some scope to reduce government borrowing, Economic Affairs Secretary R Gopalan said on Thursday on the sidelines of the Reserve Bank of India's board meeting........
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All eyes on RBI as China, Britain and Europe central banks cut rates
Central banks in China, Britain and Europe have wielded monetary levers to stimulate their economies, raising hopes the Reserve Bank of India (RBI) could do the same at home soon. But experts said Governor D Subbarao would wait to see inflation cool before obliging with a rate cut........
Rate-fixing scam forces NSE, dealers to find ways to improve rate calculation method
.... Last year, the Reserve Bank of India (RBI) came out with a cryptic communique, the implications of which were lost beyond the money markets of Nariman Point and Bandra. But it unsettled the game plan for many punters in the currency market and forced some to change tack. The innocuous circular was a simple announcement on how the central bank was changing the way it calculates the daily 'reference rate' for some of the major foreign exchange rates. The RBI had done this for the first time and there was a reason for it......
Micro finance institutions: RBI concerned on monitoring deficiences
........"The central government is bringing out a law to govern the MFI and has proposed RBI as the regulator. The concern is whether we have the set up to oversee small MFIs without affecting the quality of supervision.".............
Financial inclusion: Are 63,000 more ATMs enough?
....At present, the country has more than 90,000 ATMs, according to the Reserve Bank of India. In a bid to encourage ATM transactions, the central bank had recently allowed non-bank entities to set up, own and operate ATMs, labelled white label ATMs. According to the RBI, ATM adoption by customers has modified personal banking in India and banks have played a major role in this.......
Risk Management - The New Accelerator
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| www.prmia.org | A Higher Standard For Risk Professionals |
Master Class On External Commercial Borrowings (ECB’s) and Trade Credits
......To encourage better usage of these financial funding tools and also to update and inform Corporates various rules, regulations and risk management issues related to the ECBs and Trade Credits, ASSOCHAM in association with JIMS Rohini, New Delhi is conducting one day Master Class on “External Commercial Borrowings and Trade Credits” on 9.30 A.M, Thursday, 19th July 2012, ASSOCHAM House, 47 Prithviraj Road, New Delhi. The program will have a key note address by Sr. Official, Foreign Exchange Dept., Reserve Bank of India, New Delhi followed by technical session by eminent speakers drawn from banking sector ......
The future of urban co-operative banks in Ahmednagar district
To foretell what would be the fate of urban co-operative banks (UCBs) in the next 25 years is like predicting whether there would be timely and sufficient rainfall in Ahmednagar district. It is very difficult to talk about the future of any banking institutions. I have seen an unparalleled change in banking industry over the last 25 years. Acceptance of deposits, lending and investment in government securities as dictated by Reserve Bank of India still continues to be hardcore of banking but money transfers in no time and similar services based on computer systems and internet services through service delivery channels and payment gateways has acquired a tremendous significance..........
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