The government could hire experts in banking sector surveillance, the Finance Ministry said, as it seeks to avoid incidents like the alleged Rs.6,000 crore scam at Bank of Baroda. “We need specialised expertise in surveillance and analytical algorithm,” Minister of State for Finance Jayant Sinha said after a meeting with officials from public sector banks
Tag: Banking
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Fundamentals revisited
Most banks have shown resilience, preventing further deterioration in asset quality in the fourth quarter. The same quarter also proved to be healthy in terms of recovery for most PSU banks
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Bandhan to start 600 branches
Bandhan Financial Services plans to begin its banking journey next year with around 600 branches. Bandhan will operate in the rural belt and in the unbanked areas of the country.
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RBI considers India Post banking licence application
The Reserve Bank of India (RBI) has decided on Apri 2, 2014 to grant "in-principle approval to two applicants viz., IDFC Ltd and Bandhan Financial Services Pvt Ltd, to set up banks under the guidelines on licensing of new banks in the private sector issued on February 22, 2013. The High Level Advisory Committee (HLAC) set up by the RBI has recommended the above mentioned companies as suitable for grant of in-principle approval. The HLAC also recommended that application of Department of Post for
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RBI grants in-principle approval for banking licences to IDFC and Bandhan
The Reserve Bank of India (RBI) has decided on April 2, 2014 to grant “in-principle” approval to two applicants viz., IDFC Ltd and Bandhan Financial Services Pvt Ltd, to set up banks under the Guidelines on Licensing of New Banks in the Private Sector issued on February 22, 2013 (Guidelines). These two applicants were also recommended as suitable for grant of “in-principle” approval by the High Level Advisory Committee (HLAC) set up by the RBI. The HLAC had also recommended that in the case of D
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RBI expects fall in corporate investment
Corporate investments, which stood at Rs 263,400 crore in 2012-13, may fall in the current financial year, Reserve Bank of India (RBI) said in its monthly bulletin for September. The capital expenditure intentions of the companies in private and joint business sectors were captured in the repo
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Indian economy may grow around 5%: RBI chief
India's economy may grow at 5 to 5.5 percent rate in 2013-14, Reserve Bank of India Governor Raghuram Rajan said. In an article written on Project Syndicate, the governor said this rate of growth is "not great, but certainly not bad for what is likely to be a low point in econ
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Banks raise interest on NRI deposits
Some banks raised interest rate on non resident Indian (NRI) deposits in order to attract more dollar into the country. Earlier, Reserve Bank of India (RBI) allowed lenders to offer higher interest rates on NRI accounts to attract dollar and thereby reduce weakness in rupee exchange
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RBI wams about inflationary pressures from food, fuel articles
In its Annual Report 2012-13, Reserve Bank of India (RBI) raised concern about rising food and fuel prices, which may put upward pressure on Wholesale Price Index (WPI) and Consumer Price Index (CPI). Owing to the rise in food and fuel inflation, WPI rose to 5.8 percent in July 2013
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RBI suggests structural reforms to boost economic growth
Economic growth may recover in 2013-14 if the government unleashes reforms to remove supply bottlenecks and maintain stability, Reserve Bank of India (RBI) said in its annual report. Economic growth may get a boost from institutional reforms like better regulation of natural resources, improved harnessing of water resources, investing more in skill form