MONEY & BANKING


If NPAs are not curbed effectively, it will not be long before India heads the Greek route.  The Ministry of Finance has to necessarily leave micromanagement of the banking sector to the RBI Dr KC Chakrabary, deputy governor of Reserve Bank of India (RBI) while speaking in the capital...

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Moneylife Digital Team 01 August 2013
Between FY10 to FY13, number of fraud cases in banks declined by about 50%, however at the same time the amount involved in such frauds increased by a whopping 324% to Rs8,646 crore, with public sector banks accounting for 83% of the amount There is good news and bad news for bank...

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Moneylife Digital Team 23 July 2013
RBI has announced additional measures to address exchange market volatility and rupee slide. This includes increasing CRR balance requirement for banks to 99% and limiting bank's LAF at 0.5% of their NDTL   The Reserve Bank of India (RBI), has issued additional measures to address...

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Wrongdoings could be money laundering, terror financing, insider trading, fraudulent activities and many other such similar criminal acts. Wilful blind eyes cause the collapse of big institutions confining them to the pages of history for case studies   “Wilful Blind Eyes” are those...

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Vinod Kothari  and   Nidhi Ladha 19 July 2013
With attention of the RBI offices diluted into thousands of non-descript companies, the big fish continue to have a field day right under the nose of the RBI Unable to save lakhs of investors from losing thousands of crores, the Reserve Bank of India (RBI) has started fishing for...

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Moneylife Digital Team 18 July 2013
The Reserve Bank guidelines on counterfeit notes to banks indicates that banks will have to streamline their system in a manner that they have to bear the risk of receiving counterfeits rather than the common man who suffers a loss by unknowingly comes into possession of such notes The...

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Moneylife Digital Team 15 July 2013
In the guidelines for issuing new banking licences, the RBI has put in a string of requirements to further its financial inclusion agenda, including making it mandatory for the proposed banks to open at least 25% of branches in unbanked areas The Reserve Bank of India (RBI) does not have...

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Moneylife Digital Team 15 July 2013
RBI has also issued cautionary letters to Citibank, Standard Chartered Bank, Barclays Bank, BNP Paribas, Royal Bank of Scotland, Bank of Tokyo Mitsubishi and State Bank of Patiala The Reserve Bank of India (RBI) on Monday imposed fines totalling Rs49.5 crore on 22 private and public...

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Moneylife Digital Team 12 July 2013
The credit growth crunch could prompt banks to increase their investment in government securities, says Nomura Research Deposit growth has exceeded credit growth for the third time in two years. The gap between deposit and credit growth though marginal in the past two years, was nearly

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Moneylife Digital Team 09 July 2013
According to the Reserve Bank, any transaction by banks in currency markets will have to be necessarily on behalf of their clients The Reserve Bank of India (RBI) has imposed restriction on banks with regard to trading in currency futures and options (F&O) with immediate effect, in order...

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Increasing the outreach of banks to cover the rural borrower with low credit needs has been one objective the nation has been pursuing religiously since 1950s, till date. But the reality of financial inclusion is eluding more than half the population Deputy Governor of the Reserve Bank...

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Moneylife Digital Team 02 July 2013
“The problems relating to illegal card transactions happened because we are interlinked, and the two-factor authentication and the other security measures did not exist in overseas market where these cards were cloned and used,” RBI executive director G Padmanabhan said The recent...

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Moneylife Digital Team 20 June 2013
In a White Paper on black money tabled in Parliament last year, the Indian government said that the total liabilities of Swiss banks towards Indians fell by more than Rs14,000 crore during 2006-2010 period   Indians’ money in Swiss banks has fallen to a record low level of about...

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Vishrut Patel 19 June 2013
In another example of cartelization among bankers, several banks have increased or started imposing charges for transaction alerts through SMS as well as for mobile banking. As usual, private lenders have taken the lead, which soon would be followed by nationalized banks There is no free...

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Moneylife Digital Team 17 June 2013
Balance of payments and inflation and growth rate will determine future monetary stance, the central bank said   The Reserve Bank of India (RBI), in its mid-quarter review of the monetary policy on Monday, decided to keep key interest rates, cash reserve ratio (CRR) and repo rates

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Moneylife Digital Team 10 June 2013
The all-women bank, proposed in the Budget, would be wholly-owned by the government and is expected to start operations from November 2013 through six branches in different parts of the country The finance ministry will soon approach the Cabinet for approval to set up India’s first

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Moneylife Digital Team 07 June 2013
In a notification, the RBI said while granting advance against the security of specially minted gold coins sold by banks, co-operative banks “should ensure that the weight of the coin(s) does not exceed 50 grams per customer” The Reserve Bank of India (RBI) has extended the restriction...

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From what appears from the media, the most significant interest in the new banking licenses has come from existing leading NBFCs. How would these companies convert themselves into banks? With all humility being harnessed, one cannot call it ‘clarifications’. In fact, the whole scenario...

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Whether it is a computer or a human error, banks must refund the amount they wrongly debit. While RBI has taken the first right step by asking the banks to issue an acknowledgment, it should ask the banks to instantly refund the tax wrongly deducted As per the present Income Tax (I-T)...

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Moneylife Digital Team 04 June 2013
SBI and Central Bank of India returned a DD saying that it is a "cancelled instrument". What these banks forgot is that the DD cannot be cancelled without the original instrument, which was in their possession at the time of clearing Strange as it may sound, but two state-run lenders,...

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