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Moneylife Digital Team 09 August 2011
Larger banks being made to bear the burden of the failure of poorly regulated co-operative banks The only beneficiaries of the deposit insurance premium collected by the Deposit Insurance and Credit Guarantee Corporation (DICGC) are badly-run and politically-influenced co-operative banks.

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Moneylife Digital Team 09 August 2011
Volumes may be still low compared to metropolitan cities, but higher yields, especially in home and two-wheeler loans, is making business more profitable in these places The prospects for corporate lenders in the retail sector are brighter today in tier-2 cities like Lucknow, Ludhiana,...

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Sucheta Dalal , 10-December-2023
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Even as millions of new investors enter the capital market, our investor gri...

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Sucheta Dalal 05 August 2011
Instead of intelligently reviewing the existing mechanism of customer services, the Damodaran Committee only wants to add to it The release of the Damodaran Committee report has to be among the strangest in recent times. After 13 months of deliberation, the report was released without M...

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Moneylife Digital Team 05 August 2011
According to the RBI-appointed panel, there are a number of complaints about wrong reporting by banks to credit bureaus, which has serious implications on the credibility of a borrower The Damodaran Committee appointed by the Reserve Bank of India (RBI) has said that there is a need to...

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Moneylife Digital Team 05 August 2011
The RBI panel on banking customer services list various measures to enhance convenience for customers and safety of electronic transactions The Damodaran Committee on banking customer services says there should be zero-liability on customers for any loss in electronic transactions. "Internet...

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Moneylife Digital Team 05 August 2011
They believe that most of the problems customers suffer are due to the unhelpful attitude of banking staff and that putting them in charge will not help The recommendation by the Damodaran Committee on banking customer services to set up an internal ombudsman system for every bank could...

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Moneylife Digital Team 04 August 2011
RBI panel on bank customer services describes several improvements that can improve banking processes The much-awaited report on bank customer services by a Reserve Bank of India-appointed committee has made several proposals like simplifying account opening forms, lowering charges for...

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Moneylife Digital Team 04 August 2011
The Committee has also said that all borrowers should be allowed to switch over from fixed to floating rates, or vice-versa, at least once during the tenure of the loan, and at an appropriate and reasonable fee The Damodaran Committee on bank customer services has said that there should be...

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Moneylife Digital Team 04 August 2011
RBI panel on customer services says board must discuss top complaints and monitor implementation of policy for customer care  The Damodaran Committee on bank customer services has recommended active involvement of the boards of banks to guarantee customer satisfaction. "Commitment to...

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Moneylife Digital Team 04 August 2011
RBI panel on customer services has also recommended that pensioners be allowed to submit annual life certificate at any branch of the bank The Reserve Bank of India-appointed committee on bank customer services has recommended prioritised services for senior citizens and physically handicapped...

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Moneylife Digital Team 04 August 2011
The RBI-appointed committee does not say anything about the obstacles in the documentation process that prevents students from availing the loans The Damodaran Committee on bank customer services has failed to address some key issues on education loans, like the absence of an authority to...

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Moneylife Digital Team 04 August 2011
The UK-based bank says the zero-balance facility applies only to the original account holder, but not to the second person when the individual account is converted into a joint account If you have a zero-balance salary account with a foreign bank and want to convert it into a joint account...

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Alekh Angre 08 July 2011
Bringing MFIs under the regulation of the Reserve Bank of India is questionable as it is not equipped with any protection mechanism and also overlooks consumer protection, experts say The decision to bring the microfinance sector under the regulation of the Reserve Bank of India (RBI) has...

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Moneylife Digital Team 07 July 2011
The RBI has promised to present the Damodaran Committee report to the Karnataka High Court even as Mr Damodaran has failed to provide his “transmittal” as the chairman of the Committee Under the threat of the Reserve Bank of India's (RBI) governor being summoned by the Karnataka High Court,...

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Moneylife Digital Team 14 June 2011
There are a few precautions you must take before you are tempted to put your money in corporate fixed deposits Interest rates offered by banks on their fixed deposits are on the rise. Today banks are offering 8.25% on deposits of more than a year and 9% for deposits of more than two years....

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Moneylife Digital Team 23 May 2011
Complaints by customers on various banking matters have been dealt with in the Damodaran Committee report giving more power to account holders A series of complaints related to banking services have exposed instances where banks are openly floutingly rules and regulations of the Reserve Bank...

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Gurpur 18 May 2011
The RBI must consider long-pending measures to strengthen the banking system and introduce customer service initiatives that would enable customers to take advantage of the liberalisation in interest rates As a prelude to deregulating the savings bank interest rate, the Reserve Bank of India...

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Moneylife Digital Team 13 May 2011
The Reserve Bank says that incorporating the National Disaster Management guidelines in loan policies and documentation of banks will benefit lenders and borrowers The Reserve Bank of India (RBI) has issued a notification to all scheduled commercial banks, directing them to adopt the...

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Moneylife Digital Team 12 May 2011
Several major banks have not updated the savings account interest rate on their websites even a week after the Reserve Bank of India hiked it to 4% All the major banks, which are usually prompt in updating their websites with the changes in interest rates on loans and other schemes, don't...

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Moneylife Digital Team 18 April 2011
The detailed report on customer services has not yet been released despite it being ready; committee members are being kept in the dark over the progress of the report by the head, M Damodaran, who is incommunicado on this issue The M Damodaran Committee set up by the Reserve Bank of India...

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