MONEY & BANKING


With rupee losing about 25% in the last one year and increasing redemption costs, several companies with FCCBs on their balance sheets are keen to retire these loans   Mumbai: The Reserve Bank of India (RBI) has extended the scheme for corporates to get rid of their overseas loans by...

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There are 969 debtors who defaulted in repaying loans over Rs10 crore each, adding up to around Rs27,000 crore of the Rs1 lakh crore total defaults of nationalised banks   Thane: Over 49 lakh debtors have defaulted in repaying loans totalling more than Rs1 lakh crore from various...

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Recently, a senior Finance Ministry official had said the government expects investment from at least one foreign retail investor from the Gulf region within a month   New Delhi: The Indian government's efforts to attract investments from qualified institutional investors (QFIs) have...

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The sharp increase in CDR cases has continued unabated in FY13 as well and there were about three dozen cases involving nearly Rs20,000 crore referred to CDR cell in the June quarter   New Delhi: In a clear indication of growing financial difficulties of the corporate, a record number...

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Banks have come a long way from the days of deliberate acts of concealing the true state of affairs. “System generated” NPA is a necessary step in cleaning up the financials of banks which the RBI rightly directed Last week Dr KC Chakrabarty, deputy governor of the Reserve Bank of India...

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If there is a problem in the progress of monsoon then the central bank will take this into consideration while taking a call on rates   Chennai: The Reserve Bank of India (RBI) would pay more attention to the progress of the south west monsoon as it goes into its 'policy date', RBI...

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Ramesh S Arunachalam Ramesh S Arunachalam 04 July 2012
Apart from looking after shareholders’ interests, the five star boards of microfinance companies need to take better account of other stakeholders’ interests and a proactive approach to put into practice their stated governance principles   It was almost two years ago that we had the...

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According to the ICICI Bank chairman interest rate is hurting the common man and that's what is translating into lack of demand and a pressure in terms of the corporates New Delhi: High interest rate is hurting the common man and the Reserve Bank of India (RBI) should cut interest rate...

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In dollar terms, Punjab National Bank has lowered the FCNR deposit rates to 2.55% from 2.63% for deposits of maturity of two years and less than three years   New Delhi: Punjab National Bank revised its deposit rates downwards on Foreign Currency Non-Resident (FCNR) accounts with...

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Under the credit line, medium and long-term credit will be provided through the ICICI Bank to Indian importers purchasing renewable energy equipment manufactured in Japan   Mumbai: The Japan Bank for International Cooperation (JBIC) on Monday said it has entered into an agreement with...

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Moneylife Digital Team 29 June 2012
 The action by the apex bank should serve as a pointer to other banks—big and small—that charge excessive service charges The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs2 lakh on the Bundi Urban Co-operative Bank located at  Bundi in Rajasthan. According to a press...

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SBI chairman Pratip Chaudhuri said that the bank cut interest rates for exporters by 50 bps, effective 23rd June. The move comes within days of the RBI increasing the export refinancing limits of banks Mumbai: State Bank of India, the country's largest lender, has cut interest rate on...

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Ramesh S Arunachalam Ramesh S Arunachalam 25 June 2012
With the ongoing bids for becoming BCs approaching near zero percent, the boards of the banks should be made responsible for any outsourcing done by their respective banks through the common BC The ongoing bids for becoming bank business correspondent (BC) in 20 clusters across India is...

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Aditi Jhunjhunwala 22 June 2012
As per RBI guidelines notified on 20th June, only big business houses and corporates would venture into this area. However, these entities need to ensure the safety of the customers and public at large The Reserve Bank of India (RBI) had come up with draft White Label ATMs (WLAs)...

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Ramesh S Arunachalam Ramesh S Arunachalam 21 June 2012
Client-level controls assumes great importance in the common BC model, as without these banks and BCs could lose control of their operations and be exposed to significant costs and risks If there was one major learning (at least for me) from the 2010 Andhra Pradesh (AP) and Indian...

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Fitch said while banks continue to have reasonable customer deposit base, domestic franchises and adequate capital, the NBFCs lack the funding advantage, which puts them more at risk during times of increased market volatility   New Delhi: Ratings agency Fitch on Wednesday cut credit...

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Moneylife Digital Team 19 June 2012
The SIDBI (Amendment) Bill, 2012, would streamline procedure for loan recovery and also seek to confer power upon the SIDBI board to specify investment limit for small units   The Small Industries Development Bank of India (SIDBI) will be able to take speedier action against...

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After a survey of over 3,000 SMEs on their funding patterns, CRISIL has found that 53% of them met their funding needs through promoters' funds and personal loans in FY11   Mumbai: Rating agency CRISIL on Tuesday said a large majority of small and medium enterprise (SME) promoters -...

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Nationalised banks and regional rural banks conceded to chief minister Prithviraj Chavan's demand for appointing operational credit societies and other institutions as bank business correspondents   Mumbai: To facilitate flow of pre-monsoon credit to farmers in seven districts in...

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Ramesh S Arunachalam Ramesh S Arunachalam 16 June 2012
The business correspondent model to financial inclusion can work, but since it transfers various types of risk, responsibility and management compliance to third parties, it requires appropriate regulation and supervision   With the ongoing bidding for the whole of India, the business...

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