MONEY & BANKING


Small depositors neither receive the service they have a right to expect nor returns on their deposits commensurate with the inflation prevailing in the country. In order to provide a fair deal to the small depositors, the RBI should introduce improvements in the deposit structure of the...

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Every government policy and especially monetary policy has a very definite goal. But along with the goal there are always many unintended consequences. Some of these are the result of asymmetries of information US Federal Reserve chairman and other central bankers around the world have...

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Settlements and penalties of the last year have a lesson for every international bank, whether big or small, as they provide a peep into the alacrity of crimes committed by the white collar banking fraternity, predominantly in the developed world The just concluded 2012 can be remembered...

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MDT/PTI 25 January 2013
The panel expressed concerns that primary agricultural credit cooperative societies and central cooperative banks were not performing their role and giving almost 40% of their loans for non-agricultural needs Mumbai: The central cooperative banks should strive to have at least 70% of...

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The finance ministry and RBI should quickly lay down guidelines for banks to issue bonus shares, and also raise the FII limit to 30% for investment in PSBs, which will not only be another dose of reforms, but greatly assist the PSBs in raising fresh capital from the market The...

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MDT/PTI 23 January 2013
Fixed rate long-term loan products with periodic interest reset (say every 7-10 years) may be offered by banks in addition to plain vanilla fixed rate loan products, says the Vohra Committee Mumbai: In a slew of borrower-friendly suggestions, a committee appointed by the Reserve Bank of...

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MDT/PTI 23 January 2013
RBI said the instructions would also apply to the resident foreign currency domestic and diamond dollar accounts Mumbai: Relaxing the norms for exporters, the Reserve Bank of India (RBI) dispensed with the condition of fully utilising exchange earner’s foreign currency (EEFC) balance...

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MDT/PTI 22 January 2013
The move will benefit the hotel industry as it will allow the players to raise money overseas and repay loans taken from domestic banks, as well as for capital expenditure   New Delhi: Providing relief to hospitality sector, the Reserve Bank of India (RBI) has allowed companies owning...

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MDT/PTI 21 January 2013
In a PIL, the IBA has submitted that huge sum of money gets blocked due to pendency of such cases and there are about 50 lakh cheque bounce cases pending in various courts New Delhi: Expressing concern over the huge backlog of cheque bounce cases in various courts, the Supreme Court on...

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If media reports of early this month are any indication, a series of steps taken by the US Internal Revenue Service will have some impact on the flow of dollar funds from US-based NRIs and PIOs to commercial banks in India The US government, nicknamed “Uncle Sam” after Samuel Wilson, who...

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MDT/PTI 21 January 2013
NPAs, or bad loans, of the Indian banking sector rose sharply to 1.28% in 2011-12 from 0.97% in the previous year due to high interest rate and slowdown in the global economy Mumbai: The banking system in the country has recently shown signs of moderate rise in instability due to...

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MDT/PTI 17 January 2013
RBI deferred the implementation of Basel III, the global capital norms for banks, by three months to 1st April. Meanwhile, the deadline for the full implementation of the Liquidity Coverage Ratio for banks, which were to kick in from 2015, has been extended till 2019 New Delhi: The...

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MDT/PTI 16 January 2013
Bankers have asked the central bank for a cut in both repo and CRR in the upcoming policy review Mumbai: Leading bankers met top brass of the Reserve Bank of India (RBI), impressing upon them the need to shift focus of monetary policy to growth and sought reduction in the repo rate and...

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MDT/PTI 16 January 2013
As part of an earlier policy decision to look into the concerns surrounding the flow of credit to MSMEs, RBI deputy governor KC Chakrabarty held a meeting with chief executives of banks   Mumbai: To streamline flow of credit to small enterprises and ensure that rightful company gets...

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MDT/PTI 15 January 2013
Under the swap arrangement, a bank can buy US dollars up to its eligible swap limit from the RBI and further sell the same amount of dollars at the prevailing market rates for swaps of a similar tenor   Mumbai: With an aim to help the country’s exporters get better credit, the Reserve...

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MDT/PTI 14 January 2013
The new changes for NBFCs proposed by the RBI would negatively impact profits and raise lending rates, feels Tata Capital Mumbai: Tata Group's finance subsidiary Tata Capital has expressed reservations about the Reserve Bank of India (RBI)'s proposed changes in the norms governing non...

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MDT/PTI 14 January 2013
Even though the Indian rupee has appreciated from its all-time low, inflows into NRI deposits continue on the back of higher interest rates Mumbai: Continuing rupee fall and higher interest rate have seen deposits by non-resident Indians (NRIs) nearly doubling in the first eight months...

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MDT/PTI 10 January 2013
The Cabinet has given in-principle nod for providing need based re-capitalisation of banks till 2018-19 for ensuring compliance with the Basel III capital adequacy norms New Delhi: Seeking to enhance lending by banks and help them meet capital adequacy norms, the government today...

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MDT/PTI 10 January 2013
“There is no doubt that efforts are being made on a large scale to ensure that benefits of banking facilities are made available to the people,” finance minister P Chidambaram said   Chhindwara: finance Minister P Chidambaram said the government is making all-out efforts to ensure that...

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MDT/PTI 08 January 2013
The working group headed by Suma Varma, will also take into account recommendations of the Damodaran Committee on improvement of customer services in banks and suggestions of the Rajya Sabha Committee on subordinate legislation Mumbai: Seeking to improve banking services and ensure...

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