Chakrabarty would succeed V Leeladhar as the deputy governor in charge of banking in the apex bank. The official notification is expected soon and Chakrabarty is likely to assume office on Monday, banking sources said.
RBI's exercise will take into account standards of governance, the viability of the payment bank (PB) business model, and changes, if any, if needed.
In FY23, the State Bank of India (SBI) reported a 57.4 per cent jump in its net profit to Rs 55,684.17 crore. But the chairman of the country's largest bank, Dinesh Khara's annual pay for this creditable performance was just Rs 37 lakh (his peers at state-run banks are no better off). Look at his private bank rivals - most pocketed in excess of Rs 7 crore annually - plus stock options.
Punjab National Bank CMD K C Chakrabarty has quit his post after his appointment as RBI Deputy Governor. "K C Chakrabarty has demitted office on June 14, 2009 on his appointment as Deputy Governor, Reserve Bank of India," PNB said in a filing to the Bombay Stock Exchange.
Financial inclusion has two parameters- access and use of banking services.
Financial inclusion has two aspects- access and use of banking services.
Gandhi was the executive director at the Reserve Bank of India before being promoted to deputy governor post.
A quarter of managers to retire in 3 years; new private banks also seen as threat.
Green signal from Jaitley; CVC okays Hemant Contractor for head of PFRDA
Whistle-blowing website Cobrapost.com on Saturday slammed the clean chit given by the Reserve Bank of India to the money-laundering practices exposed by it in ICICI Bank, HDFC Bank and Axis Bank. The website had revealed how the top private banks in India helped encouraged money laundering by helping traders convert black money to white.
Since taking over at RBI on September 4, Governor Raghuram Rajan has twice hiked the repo rate -- at which the central bank lends to banks -- to 7.75 per cent, seeking to tame inflation.
The Financial Inclusion Advisory Committee under RBI Deputy Governor K C Chakrabarty is expected to suggest appropriate regulatory framework to ensure that financial inclusion and financial stability move in tandem, the RBI said in a statement.
The Saradha Group had been raising deposits from the public with a promise to double the money invested within a short period.
Chakrabarty was asked whether the RBI is contemplating a change in the Know Your Customer norms in the wake of news portal Cobrapost in a sting operation allegedly showing readiness by some officials of ICICI Bank, HDFC Bank and Axis Bank to put unaccounted money into investment products.
Plannning Commission projects economy to grow up to 7.9% in 12th Plan against earlier estimate of 8%.
State Bank Chairman Pratip Chaudhuri's call last week for abolishing the mandatory cash reserve ratio had attracted a sharp reaction from RBI Deputy Governor K C Chakrabarty. CRR is the amount of deposits that banks park with the RBI as a prudential measure without earning interest on it.
It feels there is enough liquidity to take care of the lending activities of the banking system.
Deputy Governor K C Chakrabarty says monetary policy to ease once inflation comes down.
Now SLR has come down to 23 per cent, CRR is 4.5 per cent.
Discounting the argument that gold is a hedge against inflation, the senior-most Deputy Governor wondered how a hedge instrument can offer as high as 37 per cent return year after year.
Human resource, or HR, development is one of the key portfolios that K C Chakrabarty handles as the Reserve Bank of India (RBI) deputy governor.
In its quarterly monetary policy review, RBI had last month retained the CRR at 4.75 per cent and reduced the statutory liquidity ratio -- the amount of deposits banks park in government bonds -- by 1 per cent to 23 per cent, effective August 11.
He also said that unless inflation comes down interest rate cannot be reduced.
Aviation companies, led by flamboyant Vijay Mallya-promoted Kingfisher Airlines, have been witnessing stress and it has also impacted their debt servicing, with some accounts turning non-performing assets.
In the first two quarters of 2012-13, banks referred a record number of 74 CDR cases, involving a total debt amount of Rs 40,000 crore.
The gross NPAs of some public sector banks had crossed 4 per cent of their total assets at the end of September.
These suggestions were made by Finance Minister Pranab Mukherjee in his address at a meeting with chief executives of the public sector banks, which among others, was also attended by RBI Deputy Governor K C Chakrabarty.
Reserve Bank of India Governor D Subbarao surely knows how to crack a joke even on as mundane a topic as the cash reserve ratio (CRR).
ICICI Bank Chairman K V Kamath on Thursday disagreed with the suggestion of SBI chief Pratip Chaudhuri that RBI should scrap CRR, saying it is part of the monetary policy and no issue can be made of it.
A day after RBI deputy governor's comment, Chaudhuri says his idea on cash reserve ratio was meant to ignite public debate
"Absolutely not," RBI told reporters when asked to comment on reports suggesting that SBI has agreed to pump more money into the airline. RBI does not oppose "professional decision" of the bank.
The Reserve Bank and the government has contingency plans to deal with the situation if Greece exits the Eurozone, RBI Deputy Governor K C Chakrabarty said on Friday.
Sustained dollar demand from importers and banks amid weakness in the equity market and the firming dollar overseas mainly affected the rupee value against the dollar, a forex dealer said.
RBI slams public sector banks for the strange phenomenon of profits dipping when a new chairman takes over.
In a surprise move, Reserve Bank Deputy Governor K C Chakrabarty has resigned three months before his term was to end.
Idea of 5.1 per cent fiscal deficit should not deprive credit needs of the society, said Chakrabarty.
The Reserve Bank on Friday said the option of going for another round of rate hike at its next mid-quarterly policy review in September do exist as inflationary pressure continues in the economy.
After having raised its key policy rates 10 times in a year-and-a-half to check inflation which remains stubborn, the Reserve Bank of India said on Friday it has no magic wand to bring down the rate of price rise.
The wholesale price-based inflation had shot passed 10 per cent in May putting more pressure on the Central Bank to hike the policy rates.
At a time when the Micro Finance Institutions (MFIs) have drawn flak due to steep interest rates charged by them, the Reserve Bank of India (RBI) Deputy Governor K C Chakrabarty has categorically stated that such institutions cannot play any role in financial inclusion.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances