MONEY & BANKING


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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Deficiencies were found in the quality of the work done by HSBC's 'offshore reviewers in India', who were used for clearing a major backlog of suspected transaction alerts at the bank Washington: HSBC's staff in India have come under the scanner for deficiencies in their role as...

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Ramesh S Arunachalam Ramesh S Arunachalam 17 July 2012
While much has been mentioned globally with reference to retail MFIs, the time has now come to apply the same yardstick to MIVs and all other stakeholders who invest in microfinance It was early the 1980s and I happened to have a fascinating meeting with a fine gentleman (a noted...

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The Housing (Regulation and Development) Bill makes it mandatory for a promoter/developer to register his project and display it on the website of the Housing Regulator Mumbai: Maharashtra Legislative assembly cleared on Monday night the Housing (Regulation and Development) Bill, 2012...

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  Since the RBI has passed strictures against the district co-operative banks, the state government decided to provide loan to farmers through state co-operative bank Mumbai: In a bid to ease hardships of farmers in seven districts of the state, the Maharashtra government has decided...

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The writer describes the impact of the devaluation of the rupee in 1966 following the first major financial crisis of the government. The second part of the epilogue that describes the unknown triumphs and travails of doing international business I had seen the front page of The...

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The committee is mandated to review existing policies and suggest necessary changes in the investment framework in the high-priority infrastructure sector New Delhi: The union government appointed eminent banker Deepak Parekh as the new Chairman of the High Level Committee on Financing...

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Public sector banks themselves must handle their NPAs by strengthening their recovery departments to minimize the role of borrowers and their cohorts masquerading as experts who derive undue benefits from a well intentioned scheme. This is the concluding part of a four-part series The...

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Ramesh S Arunachalam Ramesh S Arunachalam 16 July 2012
Microfinance investment vehicles control huge capital and by virtue of that they are often able to channelize cross-border flows significantly. These and related institutions should come under proper regulation, reporting and disclosure requirements I recently read a book, “Confessions...

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Banks have several ways of recovering money from a bad loan but how effective are they. This is second part of a four part series A lending bank is generally capable of detecting the “straws in the wind” about a loan account becoming irregular from its monitoring system and from a number...

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The share of foreign client assets in Swiss banks dropped to 51% of their total asset under management at the end of 2011 New Delhi: Amid growing global scrutiny of overseas funds deposited in Swiss banks, the quantum of total foreign assets managed by them has dipped by nearly 300...

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RBI governor D Subbarao said inflation cannot be controlled without sacrificing some growth that is inevitable but the sacrifice of growth to manage inflation is only in the short term Kozhikode: Ahead of its first quarter monetary policy review on 31st July, the Reserve Bank of India...

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The NBFC— Sustainable Agro-commercial Finance—will focus its activities on farms and farmers only and operate in the rural and semi-urban geographies of the country says Jain Irrigation Mumbai: Micro irrigation major Jain Irrigation Systems (JISL) said on Friday that it has obtained...

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Urban cooperative banks which have less than 5% of NPAs and comply with capital to risk-weighted assets ratio norms may declare dividends without prior permission from the central bank   Mumbai: The Reserve Bank of India (RBI) said urban cooperative banks (UCBs) which have less than...

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