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.
Monday, March 11, 2013
RBI & government: A strained relationship
New licensing norms: Bank unions call for nationwide protest
Bank unions are opposed to the RBI’s new bank licensing policy by which private industrial, business and corporate houses will be permitted to open their own banks. The United Forum of Bank Unions, a representative body of nine bank unions, has called for countrywide demonstrations by bank staff on March 18 in this regard, C.H. Venkatachalam, General Secretary, All India Bank Employees Association (AIBEA), said..........
From bottleneck to bottleneck - Subir Gokarn
G Gopalakrishna: Financial inclusion is a national mission for India
Vote of thanks by Mr G Gopalakrishna, Executive Director of the Reserve Bank of India, at the Reserve Bank of India-OECD-World Bank Regional Conference on “Financial education”, New Delhi, 4 March 2013
.........As the Governor so aptly put it, partnering with OECD and World Bank in hosting this Conference is a valuable learning experience for India. These two institutions have carried out work in the areas of financial education and financial inclusion which serves as a benchmark for other entities to emulate..................
Read.......
Chidambaram to meet heads of PSU banks on March 18
NEW DELHI: Amid moderation in economic growth, finance minister P Chidambaram is likely to prod banks to step up lending at a meeting with heads of public sector banks on March 18. The broad agenda of the meeting include direct benefit transfer, deteriorating asset quality and credit growth..........
CM unveils Jeevika's bonanza for poor
..........Deputy CM Sushil Kumar Modi said the SHGs have helped change the socio-economic profile of the state and a big social revolution was taking shape. He expressed hope that the women engaged in SHGs would have toilets in their houses, will educate girls and not marry them before 18. Rural development minister Nitish Mishra, social welfare minister Parveen Amanullah, development commissioner Phool Singh and others also spoke. Chief general manager of SBI, Mumbai, Ashish Kumar Rai, RBI Regional Director Pradip Kumar Jena and various other bank officials were also present. ...........
Rs 21 lakh withdrawn using counterfeit cheques
........."Those were sent to us for clearance by local branches of Axis bank and Canara bank. The cheques were honoured as we did not find anything wrong in it," he said. "However, the fraud was detected after our Patna counterpart alerted us that the cheques were fake. By that time the money was withdrawn,"........
It's so vital........ She said it...............!!
Shyamala Gopinath, Former Deputy
Governor
v Keep
up the good work.
Usha Thorat, Former Deputy Governor
v Dear Tarambale, Thanks
and we begin our day by opening your mail.
Kiran Sharma, Deputy General Manger, Jammu
v Thank you so much.
This remembrance means a lot.
Rama Nabar, Manager, ITP Centre, Pune
v Thanks Mitra, You were the
first to wish which always makes you a special man indeed !
Maria Sarmalkar, Private Secretary to
ED
v Thank you so much dear
Mangesh.
Saroj Mahajan, Private Secretary, RBSB
v Thanks Mangesh. Wishes to your
better half also.
Rita Fernandes, Ex-Private Secretary
v So thoughtful of you. I have
added VITALINFO in my bloggers list in google reader.
Asmita Kale, Private Secretary, DEPR
v Thank you Mangesh. My wishes
to your wife also.
Kamala Rajan, Chief General Manager, UBD,
C.O. Mumbai
Finance is indeed a woman’s cup of tea
.......... Women save more and even without a direct source of income, 60 per cent of women in India who are housewives are able to save a minimum of 5 to 10 per cent of their household income. It is widely believed that women’s higher risk aversion deters them from achieving high returns. But a study by consulting firm Rothstein Kass found that female hedge fund managers handsomely beat the global hedge fund index return of 2.7 per cent, by earning a 9 per cent through the third quarter of 2012.........
Women in bank unions
Women wear many hats in banks. They are now chairpersons, managing directors, executive directors, and general managers also. Another major part of Indian banking system is the trade unions. Though there are quite a few women leaders at regional level, they are yet to reach top positions in many bank unions. Considering the need for developing women leadership in unions, the Mangalore-based Corporation Bank Officers’ Organisation (CBOO) started a separate women’s wing way back in 1985........
Are you serious, Mr Chidambaram?
......A woman’s bank will not become successful in India if it focuses only on banking. If our finance minister is serious about this project, he must see that this bank goes beyond taking deposits and giving loans and becomes a vehicle for social change, taking care of other things such as education, vocational training, etc and help in empowering women in every possible way. At a parallel level, as Vijay Mahajan points out, we also need to address two structural issues—women must have right to property (otherwise they can’t offer collateral for a loan) and get adequately involved in formal economy through jobs and entrepreneurship. Professional urban women do not need a bank of their own but rural women, particularly in those pockets of India which are fraught with casteism and gender discrimination, will find in it an oasis...........
All-women banks elsewhere
If the all-women bank is yet to take shape in India, one such experiment in the neighbouring Pakistan is in its teens. In 1989, the first woman Prime Minister of Pakistan late Benazir Bhutto set up ‘First Women Bank Ltd’ to meet the needs of women entrepreneurs. In the last 23 years, the bank expanded its network to 24 locations with 41 branches. Started with 30 employees, the bank has around 600 employees now...........
Women’s bank? SEWA has been doing it for 39 years
At the counter near the bank entrance, two women are helping illiterate women clients fill out their passbooks. Many other clients—again, women—stoop over women officials in their cubicles. There are no men here. This isn’t the all-women’s bank that Union finance minister P. Chidambaram proposed in the 2013-14 budget. It’s the Shri Mahila SEWA Sahkari Bank Ltd, Ahmedabad, one that has been around for 39 years..................
Ahmedabad banker Jayshree Vyas to help goverment frame all-women bank
...........“I don’t have the terms of reference but it is going to be an exciting and challenging task to prepare a blueprint for such a bank in a short time. We have to submit the report by April 30,”.............
Rs.80 cr. to be disbursed to 2,781 SHGs
......DRDA Project Director M. Janaki, Reserve Bank of India AGM Ranga Rao, Lead District Manager R.V. Narasimha Rao, NABARD AGM N. Madhu Murthy, Indian Bank Zonal Manager Ramchandra Rao and officers of various departments participated.......
“Bad repayment of education loans pushes banks’ NPAs up”
.......Delivering a talk on ‘Overview of Bank Balance Sheets’, the bank GM said as per the Reserve Bank of India Guidelines 4 per cent had to be Cash Reserve with RBI and 23 per cent as Statutory Liquidity Ratio, which refers to the amount that the commercial banks require to maintain in the form gold or government approved securities before providing credit to the customers. The profitability of the banks depends on lower NPAs, quantum of large-value funding, cost of fund borrowed from the market for lending and availability of total lendable funds...........
RBI launches fresh survey on inflation expectations
....“Inflation expectations are subjective assessments of around 5,000 households across 16 cities proposed to be covered in the Survey round and are based on households’ individual consumption baskets,”......
RBI to keep tabs on all export dealings
.........Bringing all export transactions under the scanner of the Reserve Bank of India (RBI), the government has asked the central bank to set up a monitoring cell that will coordinate with banks to track all banking transactions of exporters. "The automated and unified data processing and monitoring system will scan all exports from the country," minister of state for finance Namo Narain Meena had informed Parliament on Friday. Under this system, all data will flow first to the RBI server and then to authorized dealer banks............
RBI rules out revision in inflation goal
.......Stating that there “is no empirical evidence to establish that the benefits of higher growth outweigh the cost of welfare loss associated with higher inflation,” the Governor felt that the context presented no sufficient condition for the RBI to revise its inflation goal. “The responsibility of the RBI is to anchor inflation expectations, and ensure price stability,” he said. “Neither theory nor empirical evidence presents a credible case for acquiescing in a new normal for inflation in India,” he made it clear.......
RBI to lower interest rates by 0.75% in 2013: Stanchart
......."We expect a positive combination of lower inflation, fiscal consolidation and signs of improvement in the capital account deficit in the first quarter of 2013 to facilitate the rate cuts," ..............
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