MONEY & BANKING


MDT/PTI 08 January 2013
Currently, the SLR is pegged at 23%, while the average industry holding is above 28% and the central bank has hinted at allowing part of it as liquid assets under Basel-III Mumbai: The Reserve Bank of India (RBI) has hinted at allowing part of the statutory liquidity ratio (SLR) holdings...

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MDT/PTI 07 January 2013
Public sector banks, like SBI, PNB, BoB and Canara Bank should review their exposure to non-core operations like insurance ventures to conserve capital and promote banking operations, feels the Finance Ministry New Delhi: The Finance Ministry has asked public sector banks to review...

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MDT/PTI 04 January 2013
SEBI said bank should use the separate account solely for the purpose of making application in public issues and clear demarcated funds should be available in such account for ASBA applications Mumbai: Market regulator Securities and Exchange Board of India (SEBI) has asked the banks...

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Moneylife Digital Team 03 January 2013
The KUB Rao Working Group has come out with tougher guidelines and asked for better documentation, standardization of interest rates, stricter KYC guidelines and more transparency from gold NBFCs. But the market has interpreted it as being good for gold loan companies A Reserve Bank of...

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MDT/PTI 03 January 2013
Bombay High Court has ruled that police are duty-bound to extend assistance to banks or financial institutions when they are acting under the Act to take possession of liquidated properties Mumbai: In a significant order for the banking sector, Bombay High Court has ruled that police are...

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MDT/PTI 31 December 2012
The move will provide additional time to some banks that need to enhance their capital base in line with the new norms for strengthening the resilience of the global banking system Mumbai: The Reserve Bank of India (RBI) has extended the date for implementation of Basel III, the global...

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MDT/PTI 31 December 2012
While profit margins are important for sustaining banking operations, the cost of operational inefficiencies of banks should not be passed on to customers by way of higher service charges and fees said the RBI's deputy governor Chennai: Cautioning banks charging high prices on products...

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Let us hope that this noble thought of making banking services a right of every citizen does not remain a wishful thinking, but a way of revitalizing the banking services to enable over a billion people of this country to lead a life of security and safety of their hard-earned savings

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MDT/PTI 28 December 2012
As per the proposed guidelines, the NBFCs have to recognise a loan as NPA if it is not serviced for 90 days from the present 180 days Mumbai: The proposed guidelines by the Reserve Bank of India (RBI) for the non-banking finance companies (NBFCs) are likely to impact the profitability of...

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MDT/PTI 24 December 2012
RBI extended the time for NBFCs up to 31 March 2013 to ensure withdrawal of Non-CTS 2010 Standard compliant cheques and replace them with CTS-2010 Standard compliant cheques New Delhi: Borrowers from non-banking finance companies (NBFCs) have now time till 31st March to replace their old...

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The measures contained in the Banking Amendment bill are expected to create more confidence among investors, depositors and the public in the banking system. But a lot more requires to be done in the area of improving corporate governance, better customer service, and more importantly freeing...

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Moneylife Digital Team 20 December 2012
The Banking Laws (Amendment) Bill will gradually pave the way for more competition in the sector and will carve out a more efficient and more valuable banking system, says Nomura Equity Research in its Quick Note   What is the business impact of The Banking Laws (Amendment) Bill,...

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MDT/PTI 19 December 2012
India Ratings and Research said there would be limited financial impact on NBFCs from the proposed revisions in asset classification, provisioning norms and higher tier-I capital ratio requirements Mumbai: Non-banking Finance Companies (NBFCs) are likely to benefit from the proposed...

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MDT/PTI 17 December 2012
Experts say the tight liquidity condition will continue for a while till the government starts spending, and this makes a case for lowering of CRR New Delhi: Moderating inflation has raised hopes of a rate cut by the Reserve Bank of India (RBI) in its mid-quarter review of monetary...

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MDT/PTI 17 December 2012
Bihar government has decided not to keep its cash with these 13 banks, who failed to obtain a minimum of 25 marks out of 100 on the basis of performance on priority sector, agriculture credit, KCC and credit-deposit ratio Patna: Penalising for non-performance in loan disbursal in...

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MDT/PTI 12 December 2012
The accused said that they collected unsuspecting SBI customers' ATM card details, including passwords, by visiting ATM counters in Itanagar Itanagar: A racket allegedly involved in unauthorised withdrawal of cash from State Bank of India (SBI) customers' accounts through online...

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Though India did not face the financial crisis of 2008 that made bankers from the west to sit up and think about how to regain trust of customers, lenders in our country need to do an introspection, as service in domestic banking and financial institutions leaves much to be desired  

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The latest RBI KYC guidelines for opening new bank accounts make it a lot easier for common man as only one document would suffice as proof of identity and proof of residence   The Reserve Bank of India (RBI) has come with modifications in KYC (Know Your Customer) guidelines. These...

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MDT/PTI 07 December 2012
Finance Minister P Chidambaram said that irrespective of NPAs going up or down, the loan recovery should be made in a respectful manner   New Delhi: Finance Minister P Chidambaram has warned that severe action will be taken against banks if they employ muscle-men or undesirable...

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Stephen Rosling 06 December 2012
I recently did a word count on a new product offered by a well-known bank—the total word count was over 40,000!  Now some customers would choose to read this material before they sign. However, I would suggest that 99.9% would simply sign without reading. Is this fair?   It’s fair to...

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