There are a number of factors that helped India remain relatively unscathed. Some of them are to do with RBI and some of them are to do with the Indian economy.
For bank borrowers, it might soon pay to be well-behaved. Banks are considering the introduction of a behaviour-based dynamic lending system once the base rate mechanism is in place from July.
A number of public sector banks will have to stock up on core capital, if the Reserve Bank of India decides to ask banks to leave out hybrid instruments while computing Tier-I capital adequacy, as indicated by RBI last week.
Just 6.4% of branches owned by new private sector banks are in the rural areas
Indian banks, which are increasingly getting worried due to asset-liability mismatch, have sought the government's approval to float tax-free bonds.
Housing finance companies (HFCs), which rely heavily on banks for funds, have said that loans taken by them should be exempted from the proposed base rate system.
Questions market regulator's showcause to insurers on conceptual, legal, structural grounds.
Axis Bank's chief talks of her stress-busters and brushes over the 'Chanda-Shikha' stories.
Several cities see a fall of up to 36% in sales, even as Mumbai region continues to grow.
Small-town India is warming up to foreign banks, finally.
Contrary to popular perception on interest rate movement, expected to head north following a likely central bank action on monetary tightening, banks may actually end by cutting rates in the below-prime lending rate region for at least their corporate clients. This is because of the huge pipeline of undisbursed loans the banks are sitting on and their scramble to bloat top line to reach closer to the yearly targets.
But, will help Indian funds get more deals
Faced with a rising number of customer complaints on excessive charges, the Reserve Bank of India has asked the Indian Banks' Association to come up with guidelines on what the reasonable charges should be.
The government has also set the ball rolling on filling up the vacancies in the second rung. It has sought a dossier on general managers who could be promoted to the level of executive directors.
The Insurance Regulatory Development Authority (Irda) is likely to broaden the definition of infrastructure to include more sectors. The move, being discussed with insurance companies, is aimed at enabling insurers to get access to more papers to invest in and diversify their portfolio.
The long wait for a symbol of the rupee is expected to end by March next year. A committee headed by Reserve Bank of India Deputy Governor Usha Thorat has shortlisted five symbols from 4,000 entries for a public competition to select a design for the symbol.
Tighter norms, better economy reduce credit card non-performing assets.
RBI wonders if banks are doing enough to push the service.
Jalanga or its neighbouring villages do not have a single bank branch. The nearest bank branch, that of UCO Bank, where Das has an account, is located at Bhadrak, around 20 km from the village.
The exit of the big movers has meant more opportunities for local players such as Nambiar Finance, which is just one of the 1,465 non-deposit-taking NBFCs registered with the Mumbai office of the Reserve Bank of India.
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