Govt is using Census 2011 as basis for charting out its financial inclusion plan.
The report concluded that she failed to discharge her fiduciary functions to rescue herself to avoid any conflict of interest.
If Mumbai's Zaveri Bazaar is full of jewellery shops and Delhi's Chandni Chowk has got hundreds of saree merchants vying for customers' attention, Zurich has got a street full of Swiss banks -- known for their secrecy veils.
The bank remains on high alert to intervene if markets freeze.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
The problem is actually acute in the diamond jewellery industry where there is no uniform criteria of inventory valuation unlike gold, whose prices are uniform and widely quoted.
CDR amount jumps six times in first half; bankers expect things to worsen.
The move comes after RBS failed to close a deal involving sale of its India retail assets to Hongkong and Shanghai Banking Corporation.
Pawan Kumar Soni, a 55-year-old farmer based in Sri Ganganagar City in Rajasthan, became a victim of a cyber fraud when his 26-year-old son Harsh Vardhan opened a link from a phishing message that flashed on his mobile phone.
Bank chiefs told the RBI said they needed to mobilise deposits as they were facing additional demand for funds with other sources drying up. "When government schemes are offering 8 per cent rate, banks cannot go below that. If we cut rates further, we will not be able to attract fresh funds and will also face the prospects of depositors exiting in favour of small savings instruments," said a banker who attended the meeting.
'The RBI has not allowed any commercial bank to fail in the past three decades.' 'It has always played the role of a matchmaker, but this is the best deal it has stitched,' notes Tamal Bandyopadhyay.
Central banks are underwriting the credit risk with public money but without any level of transparency. Traditionally, only government securities are eligible for discounting. A fundamental principal of the discount window is that it is designed to provide short-term liquidity against instruments of unimpeachable credit quality. The regulatory spin is that this is "temporary" "in the light of market conditions" and "recognises innovation in the market".
This is not a new or unknown problem, but every time it crops up, our policy-makers have tried to wish it away. In the present circumstances too, the government has stopgap arrangements. It is borrowing from the World Bank (that's window-dressing fiscal deficit), says Ajit Ranade.
India's $121 billion troubled debt pile, over $100 billion of which is on the books of state-owned banks, has come under close scrutiny from prosecutors, the media and politicians
"Canara Bank is the lead banker of lenders' consortium to DCH and the bank is conducting forensic audit of DCH," Financial Services Secretary D K Mittal told reporters.
2014 sees slowest start to festival season in at least 7 years
The government has once again tweaked the rules for selection of public sector banks chiefs.
Sreejita De has named her brand #sreejitadeSupremacy.
Banks want the government to bear the cost of providing cover under the proposed credit guarantee scheme for distressed farmers.
More people are now comfortable using their debit cards.
Seek easing of asset classification guidelines for better credit flow.
Joy Thomas stated that one large account -- HDIL -- was the sole reason for the present crisis that led to the regulatory action on Tuesday when Reserve Bank of India superseded its management and placed it under an administrator for the next six months.
There's surplus liquidity and RBI, with plentiful forex reserves, is ready to pump whatever extra is needed
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
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At the retreat, PSBs had suggested the government cut its stake in these entities to less than 51 per cent over a period of time and empower the boards of individual banks.
The bank has won the 'Best Retail Bank in India' award for the fifth year in a row.
Banks have sought relaxation in norms for classifying loans to delayed infrastructure projects as sub-standard assets even as the Reserve Bank of India has indicated its unwillingness to ease the group exposure ceiling.
The suspected security breach happened through a malware in the systems of Hitachi Payments Services, which serves ATM network of Yes Bank
Superseding the boards of two non-banking financial companies (NBFCs) in the Srei group will neither create liquidity challenges for sound entities, nor build systemic crises because the markets have factored in the problems with the Kolkata-based firms. Such regulatory steps will help in making the NBFC space more robust, bankers and market experts said. The action should have begun earlier because the Reserve Bank of India (RBI) had done a special audit last financial year and asked the group to make provisions for assets considered stressed, analysts said.
For the fortnight ended September 5, annual credit growth in the banking system fell to 9.68 per cent, data released by the Reserve Bank of India showed.
'The government must find worthwhile private owners for some of the banks, increase the share of private sector banking in the system, and then ask the remaining government banks to face the discipline of the market and compete, or shrink into irrelevance,' says T N Ninan.
Banks are ruling out an immediate hardening of interest rates and will wait for cues from the Reserve Bank of India before effecting any changes. Most bankers said that unlike last time when inflation was above 6 per cent, the government this time has a bigger role to play than the Central bank since most price pressures are emanating from rising food and metal prices.
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KC Chakrabarty who was appointed as RBI deputy governor in 2009, is considered frank with his views.
With the Adani and Jindal groups and Mukesh Ambani-owned Reliance Industries joining the race to buy Videocon Industries' (VIL's) assets, lenders are expecting aggressive bids for VIL's consumer durables and overseas oil assets, which are to be sold in separate auctions. The entire asset sale exercise is expected to be completed in the next six months, said a banker. A promoter entity of Naveen Jindal-owned Jindal Steel and Power has also evinced interest in the second round of bids for VIL's consumer durable business. The deadline to submit bids for VIL's assets ended on February 2.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
The evolving RBI-government relationship, a reversal in the interest rate cycle and return to profitability will dominate bankers' conversation this year, says Tamal Bandyopadhyay.
Loans make money for the lender in the initial years but losses come later when they turn bad.
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
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