MONEY & BANKING


If NPAs are not curbed effectively, it will not be long before we in India head the Greek route. The banks should not stop short of opting for strong coercive proceedings under the securitization laws rather than yield to the mirage of CDR In the west, post-Lehman brothers has brought...

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Ramesh S Arunachalam Ramesh S Arunachalam 28 July 2012
The microfinance crisis of 2010 underlines the urgent need for balanced but effective regulation/supervision in India with regard to microfinance investment vehicles (MIVs). The powers that be in home and host countries should attend to these issues in an expeditious manner Hugh...

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The MoU would help India seek material information and help from the UK in cases like HSBC, as also on other issues relating to British banks operating in India   London: British financial sector regulator Financial Services Authority (FSA) has entered into a fresh agreement with the...

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The RBI has implemented some of the recommendations of the Nair Committee report, resulting in a lot more clarity on priority sector treatment, both in case of securitisation and direct assignments The priority sector lending norms were announced on 1 July 2012 and were changed on 20...

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The RBI issued directions but has not clearly spet out its intentions, which may give room to confusion in the mind of those who carry out factoring as an ancillary business On Monday, the Reserve Bank of India (RBI) brought into force a new kind of Non Banking Financial Company—Factors...

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If the new CDR guidelines are followed net profit of state-run banks will likely decline by 6% to 18%, but for private banks, it will be much lower at 0.2 to 2% says StanChart in a report     Mumbai: The new corporate debt recast (CDR) norms issued by the Reserve Bank of India (RBI)...

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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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