MONEY & BANKING


Moneylife Digital Team 03 December 2013
Only SME, mortgage, real estate, construction and roads sectors reported meaningful growth in October 2013, reports Nomura Equity Research based on RBI released sector-wise monthly loan data As of October 2013, aggregate non-food credit growth was 17% y-y (year-on-year), with primary...

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Moneylife Digital Team 02 December 2013
As per the draft guidelines, RBI would allow banks with good credentials to operate as insurance brokers and leverage their branch to increase the penetration of the insurance sector The Reserve Bank of India (RBI) has decided to permit banks to become insurance brokers in order develop...

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While the RBI has liberalised interest rates and given freedom to banks to fix interest rates and the periodicity of payment of interest to depositors, the reality is that banks are not willing to pass on the benefits of liberalization to the public unless they are forced to do so During...

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Moneylife Digital Team 22 November 2013
In view of the need to ease the liquidity stress to micro, small and medium enterprises, the RBI decided to provide refinance of Rs5,000 crore to the SIDBI Reserve Bank of India (RBI) said it will provide a refinance of Rs5,000 crore to Small Industries Development Bank of India (SIDBI)...

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Moneylife Digital Team 18 November 2013
The central bank has designated 29 banks including, SBI and its subsidiaries, Punjab National Bank, ICICI Bank, HDFC Bank, Axis Bank, Bank of Baroda, Bank of India and Canara Bank to accept I-T payments from taxpayers The Reserve Bank of India (RBI) has designated 29 banks both from...

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While the non-performing assets or bad loans of banks are reaching new highs, the lenders are finding loan recovery difficult due to legal and procedural hurdles   While the net non-performing assets (NPAs), or bad loans, of banks are on the rise, bankers are facing several issues...

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Banks in India offer similar products and services to customers and I would regret if new banking licences are given to similar cloned entities, the finance minister said Finance minister P Chidambaram has called banks in the country as 'clone' of each other that offers similar products...

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While we should welcome the move made by the RBI to combat the fake currency racket, we must debate their methodology adopted in test marketing of polymer rupee currency notes In the past few months, Moneylife has carried reports on the urgent need to implement policies relating to...

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Some applicants may have proposed or indicated their plans to take over or buy out some of the smaller banks in existence; or even have had 'secret' talks for mergers. If such offers are part of the applicant's ‘mission’ to improve and reach out to the rural areas, including extending service...

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The Reserve Bank must tender accountability in order to claim and enjoy autonomy from the government. Scale notwithstanding, lobbying, as a strategy, is also debatable Accountability and ethics are very crucial to the survival of the financial sector and there is no doubt that there has...

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Urban co-operative banks are falling like pack of cards, leaving hapless depositors high and dry! There is an unprecedented euphoria both at the Reserve Bank of India (RBI) and the Finance Ministry to grant new banking licenses. There are 26 aspirants waiting in the wings to start...

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While the RBI governor is trying to energise the corporate bond market, he may like to know the scope for non-banking non-financial companies to issue corporate bonds. It is almost completely dried up, with the new rules for the public deposits, draft of which was unveiled by the Ministry of...

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The Companies Act 2013 has several provisions which are reactive–reactions to recent corporate scandals in India and elsewhere hence, the statute is laden with lethal powers of prosecution, may be abused to a large extent A little-known provision of the Companies Act, 2013 gives...

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Moneylife Digital Team 24 October 2013
Morgan Stanley expects the RBI to cut MSF rate further by 25 bps to 8.75% but to lift repo rate by 25 bps to 7.75% on the 29th October RBI meeting to review monetary policy While initiating the tightening measures since July 2013, RBI (Reserve Bank of India) has always indicated that...

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Moneylife Digital Team 24 October 2013
The advisory group would suggest nature of organisation-- either existing or formation of new entity-- to carry the GIRO based bill payments as well as forming guidelines for setting up and operating the system of bill payments Reserve Bank of India (RBI) on Thursday constituted an...

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What assurance can the RBI Board provide that important discussions and decisions will not be shared by its non-executive directors with their parent (or related) organisations that may have some  commercial interest in financial sector? Institutional accountability of the Reserve Bank...

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Moneylife Digital Team 18 October 2013
Former union government secretary EAS Sarma has written a letter to Reserve Bank of India and Department of Economic Affairs, which drew attention to Moneylife article by Ramesh Arunachalam on areas of conflict of interest in the way RBI is processing new private banking licences

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The time is now ripe to make the RBI more accountable to the people of India. With its wide ranging powers and greater impact on all aspects of the economy, the accountability of RBI assumes even greater importance and should not be ignored. When I was growing up in the 1960s/1970s, the...

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The NRIs are poised to take advantage of the swap window which will fetch them handsome returns on deposits Even before the commencement of festival season, the Reserve Bank of India (RBI) has showered a bonanza on non-resident Indians (NRIs) and it appears to be a “festival sale...

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To an activist like me, the greatest loss is the fall in the quality of banking services to the smaller customers, more particularly the elders, disabled, home maker-women, widows and pensioners Any right thinking Indian will certainly question the wisdom of the Raghuram Rajan, the...

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