MONEY & BANKING


Veeresh Malik Veeresh Malik 15 August 2012
This is a subject Moneylife has written on many times in the past. It now appears that RBI has finally taken some steps. It is now up to you as a consumer to ensure that your bank/branch/ATM is subscribing to those RBI directives The Reserve Bank of India (RBI), to its credit, has one of...

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RBI has just come out with guidelines for issuance of “Payable at par/Multi-city” cheques to all eligible customers in a standard format. But the RBI should have thought of many other possibilities of offering a wide variety of services using CBS. Here is a list of benefits it could have...

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AK Ramdas AK Ramdas 13 August 2012
As per the finance ministry, 5.21 lakh pieces of fake currency were detected in 2011-12, up from 4.35 lakh units in 2010-11 with the majority of them in Rs500 notes. When will the RBI take a call on polymer notes?   Recently we carried a story on the history of the pioneering effect by...

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The specialised banking outfit would primarily sell products like insurance, life and general, credit card and mutual fund instead of the traditional products of deposit and loan Jaipur: The State Bank of Bikaner and Jaipur (SBBJ) on Thursday opened its first Financial Super Market...

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While CBI registered criminal cases involving Rs4,000 crore in 2011, cases regarding frauds worth Rs2,500 crore have already been registered from January to July this year     New Delhi: Losses suffered by Indian public sector banks in frauds nearly doubled to Rs3,780 crore in 2010-11...

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Ramesh S Arunachalam Ramesh S Arunachalam 04 August 2012
Much of the Indian microfinance crisis was fuelled because of the irresponsible investments made by many stakeholders including microfinance investment vehicles or MIVs. We certainly cannot have MFIs practice responsible microfinance when their investors are ‘irresponsible’ In his recent...

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The Consumer Forum dismissed the claim of Rs5 lakh since the complaint was not filed within specified time limit   Thane: A claim of Rs5 lakh filed by a Belapur resident against HSBC and Citibank, for their alleged deficiency in services, was dismissed by the Thane Additional District...

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If NPAs are not curbed effectively, it will not be long before we in India head the Greek route. The banks should not stop short of opting for strong coercive proceedings under the securitization laws rather than yield to the mirage of CDR In the west, post-Lehman brothers has brought...

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Ramesh S Arunachalam Ramesh S Arunachalam 28 July 2012
The microfinance crisis of 2010 underlines the urgent need for balanced but effective regulation/supervision in India with regard to microfinance investment vehicles (MIVs). The powers that be in home and host countries should attend to these issues in an expeditious manner Hugh...

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The MoU would help India seek material information and help from the UK in cases like HSBC, as also on other issues relating to British banks operating in India   London: British financial sector regulator Financial Services Authority (FSA) has entered into a fresh agreement with the...

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The RBI has implemented some of the recommendations of the Nair Committee report, resulting in a lot more clarity on priority sector treatment, both in case of securitisation and direct assignments The priority sector lending norms were announced on 1 July 2012 and were changed on 20...

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The RBI issued directions but has not clearly spet out its intentions, which may give room to confusion in the mind of those who carry out factoring as an ancillary business On Monday, the Reserve Bank of India (RBI) brought into force a new kind of Non Banking Financial Company—Factors...

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If the new CDR guidelines are followed net profit of state-run banks will likely decline by 6% to 18%, but for private banks, it will be much lower at 0.2 to 2% says StanChart in a report     Mumbai: The new corporate debt recast (CDR) norms issued by the Reserve Bank of India (RBI)...

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On 13th May 1952, the two Houses of the Parliament held their first sessions, following the first General Elections in the country   New Delhi: To commemorate the occasion of 60 years of Parliament, the Reserve Bank of India (RBI) will introduce Rs5 and Rs10 denomination coins having...

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The RBI should look at converting the PSBs into limited companies and take steps to amend the laws to make them more accountable to the public shareholders and comply with the listing guidelines, both in letter and spirit In a frank admission of corporate governance deficit in public...

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Moneylife Digital Team 23 July 2012
Market expectations on rate cuts, as reflected by the overnight indexed swap (OIS) level, shows lower expectation of rate cuts over the next one year The market players are veering towards the view that the RBI (Reserve Bank of India) is likely to maintain status quo in the policy...

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While most of the recommendations of the Mahapatra Group fail to address the seriousness of the issue, the RBI may accept the recommendations and banks may happily use restructuring to keep their NPA levels cosmetically low The report of a Reserve Bank of India (RBI) working group to...

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Polymer notes would reduce costs and be a challenge to counterfeiters Thanks to the RTI Right to Information) application submitted by activist Subhash Agrawal, it is now public knowledge that printing small currency note costs big money!  It costs a good 10% of the face value to print...

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Ramesh S Arunachalam Ramesh S Arunachalam 20 July 2012
Hugh Sinclair has written a controversial book - “Confessions of A Microfinance Heretic: How Microlending Lost Its Way And Betrayed the Poor” (2012) and published by Berrett-Koehler Publishers, Inc. Recently, Hugh Sinclair, in a reply to David Roodman’s review of the book, has argued as...

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  RBI is looking into the issue of non-compliance of anti-money laundering norms by the Indian staff of HSBC raised by a US Senate Committee New Delhi: The Reserve Bank of India (RBI) is looking into the issue of non-compliance of anti-money laundering norms by the Indian staff of...

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