Use of blockchain technology will ensure that banks will not be blindsided like in the case of the Nirav Modi-Mehul Choksi blowout at PNB, says Raghu Mohan.
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
The 50-day deadline to deposit the old Rs 500/1,000 notes in banks comes to an end on Friday but the cash crunch and queues before ATMs are likely to continue for some more time as currency printing presses have failed to meet the huge demand for new bills.
The central government's deposits with the RBI had fallen to just Rs 100 crore as of June 8.
For any airline to be eligible for restructuring, the current ratio has to be equal to or higher than 0.4, while 'debt to Ebitda' has to be equal to or less than 5.5.
As liquid tightening measures were likely to be temporary, any change in lending rates would depend on the length of these measures, according to bankers.
'The assumed linear correlation between forced lower yields, higher bank borrowing from the RBI, higher lending, and higher growth involves leaps of faith, each a step on the quicksand of false beliefs,' warns Debashis Basu.
A selection committee, headed by Reserve Bank of India (RBI) Governor D Subbarao, is scheduled to meet next week to shortlist candidates for the post of the deputy governor of the central bank.
About 13 million first time car/two-wheeler buyers are entering the market every year. If employment creation is such a big issue, where are these people coming from, asks Mahesh Nandurkar.
Though most foreign banks appear reluctant to establish a subsidiary here, Citi is the only bank that has so far communicated this to the regulator, in writing.
Recent liquidity easing measures from the central bank and the improving scenario might lower the lending and deposit rates in the next one month, a top banker said. As part of its efforts to ensure stability and sufficient liquidity in the financial system, Reserve Bank is likely to continue its ongoing policy measures but is unlikely to slash the repo rate in the forthcoming policy, Narayanasami said.
Embattled liquor baron Vijay Mallya, who lost his UK high court appeal against an extradition order to India, has said that he is "disappointed" with the ruling but will continue to seek legal remedies as advised by his legal team. The 64-year-old former Kingfisher Airlines boss reiterated that he has repeatedly offered to pay the Indian banks the loan amount owed by his now-defunct airline, an offer which the banks have rejected.
'Common sense says if one can afford, servicing the loans during this period is a better bet than postponing it by three months,' says Tamal Bandyopadhyay.
There is not much bank employees can do, but some words of encouragement from the management would have helped. Stretched working hours and the tense atmosphere is taking a toll on their health.
Home and auto loans are likely to become more cheaper with several PSU banks promising to revise their lending rates if RBI eases its monetary policy on Saturday.
The best message the Prime Minister could bring to London is that he will return to India to focus on economic matters. Britain, on its part, should ensure that it addresses matters that concern India, instead of engaging in pomp during his visit, says Adam Roberts.
Monetary transmission has been an issue for the Indian banking sector.
The central bank opened a special 14-day repo window of Rs 20,000 crore to enable banks to raise money and lend to the funds, but received only four bids for Rs 3,500 crore. RBI uses the repo route to lend money to banks and enhance liquidity in the system.
It has been decided to reduce home loan rate by 20 basis points.
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.
'Put the assets of PMC Bank and the personal assets of the HDIL promoters and head of PMC Bank in an escrow account and ring-fence it from the ad hoc action of the revenue departments and creditors,' recommends Debashis Basu.
It is difficult to say if the banking sector will see the worst behind it by March 2020, warns Tamal Bandyopadhyay.
'Rawalpindi must downsize its quest for 'strategic depth' in Afghanistan and Kashmir,' suggests Matein Khalid.
Foreign banks were ahead in terms of technology, but that is no longer the case as Indian private banks steal the innovation march.
If indeed we want the board to manage the RBI, probably the government should take a close look at the US Federal Reserve system which has a two-part structure - a central authority in Washington, DC, and a decentralised network of 12 Federal Reserve Banks located throughout the country, says Tamal Bandyopadhyay.
The good news for us is that India's economy - and sentiment about it - is much better than it was a year ago, says Jamal Mecklai.
Besides, public servants -- politicians, bureaucrats and bankers among others -- have also been given a 'shield' from prosecution in the legislation.
Seed and early-stage start-ups are high-risk businesses, rarely have collateral and only 1 in 10 of them makes it to becoming a viable company.
'You want a steady, confident, self-assured and highly skilful hand at the till. 'It is a pity that the BJP has decided to deprive itself of such a hand at this politically sensitive time.' 'It is like sacking your surgeon in the middle of your brain surgery,' says S Muralidharan.
The RBI has announced its credit policy last week and auto financiers believe that consumers should 'wait and watch' before the interest rates on auto loans settle down.
RBI will not follow US Federal Reserve's cue of cutting rates, as Indian conditions differ greatly from US.
The first meeting with the owners and bankers was held in Kolkata on Saturday for the closed gardens in West Bengal and Assam. The rehabilitation package was approved by the commerce ministry recently.
After Chakrabarty's exit there will be two vacancies for deputy governors in the central bank.
'Toll system can never end though the rates may vary from time to time. Toll is my brain child'
'Narendra Modi has had very good luck. Firstly, the fall of oil prices. You don't get that very often in your life and you certainly don't get that often when you are in government.' 'Secondly, the fantasy of Indian reforms has led to very strong capital inflows to have made his job much, much easier.' 'You ride the winds in times of fortune and he hasn't done that. At least, not yet.' 'Those winds of fortune which are blowing your way can certainly turn around easily. There are quite a few headwinds coming up. He may well, history will show, have missed the opportunities that existed.'
'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.
The credit policy annouced by the RBI on July 31 is likely to have no impact on the home loan interest rates feel experts.
Banks want the government to bear the cost of providing cover under the proposed credit guarantee scheme for distressed farmers.
The RBI, which has no interest or mechanism to get feedback from bank customers, is unaware of this. If made aware, it remains silent, proving that it has no problem in allowing lenders to short-change its customers, says Debashis Basu.
Bankers have said that lending rates could go up to 0.5 per cent after the Reserve Bank's annual credit policy, which is widely expected to take stringent monetary measures to contain price rise. Many expect the central bank to effect a hike in cash reserve ratio (CRR), the rate of amount all commercial banks need to keep with the Reserve Bank, in its annual credit policy on April 29. Many banks, including SBI, had revised their lending rates downwards early this year.
