Yes, the entry of private bankers, particularly with global experience will add value to PSBs, points out Tamal Bandyopadhyay.
Mint Road's proposals on banks' M&A funding are cautious even as entrants root for more elbow room, and weigh business models.
Opening up the corner office is fine, but will the government be able to attract talent without giving a market-rate salary?, asks Tamal Bandyopadhyay.
Kerala Chief Minister Pinarayi Vijayan on Monday urged various banks to write off the loans availed by landslide victims and survivors in Kerala's Wayanad.
Learning from East Asia, India must reform its district administration with performance, accountability, and vision to achieve the goal of Viksit Bharat, points out Deepak Mishra.
Concerned over the rise in mis-selling of products by banks and non-banking financial companies (NBFCs), the Reserve Bank of India (RBI) is examining whether to come up with norms to curb such practices. Observing that pushing financial products, such as insurance, indiscriminately to unaware consumers may be detrimental to their well-being, RBI Deputy Governor M Rajeshwar Rao said, "We are examining whether it necessitates framing of guidelines to address mis-selling of financial products and services by REs (regulated entities)."
Addressing officials of Puducherry government and various banks at a meeting organised by state level Bankers Committee in Puducherry, Chidambaram said 'with the availability of banking technology, the scheme is not a complex arrangement but an easy programme.'
'The CM kept his cool, but his adviser was liberal with filthy language.' Tamal Bandyopadhyay recreates the diary of a general manager in a public sector bank, providing a glimpse of how they balance their work and life.
"Large-scale corruption is being alleged in schemes being executed through banks... the top authorities must take the matter seriously and help curb corruption," Kumar said while addressing the meeting of the State Level Bankers' Committee (SLBC).
The much awaited implementation of the over Rs 71,000 crore (Rs 710 billion) farm debt waiver and relief scheme got underway on Thursday with public sector banks, regional rural banks and cooperatives displaying names of the beneficiaries at branches.
Union Finance Minister Pranab Mukherjee while presenting the Budget 2009-10 in Lok Sabha on Monday announced that a sub-committee of State level Bankers Committee (SLBC) would identify and formulate an action plan for providing banking facilities in under-banked/unbanked areas in the next three years.
The government has invited applications for the post of deputy governor of the Reserve Bank of India (RBI) from interested candidates with at least 25 years of experience and below 60 years of age as on January 15, 2025. One of the deputy governors, Michael Patra's current term will end on 15 January. The last date of submission of applications is November 30, 2024.
The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
'Challenge is basically near-term growth as the outlook has turned a bit adverse.'
All documents and data were safe as there was a Disaster Recovery Centre for every bank
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
Senior bankers point out that while they will eventually attract qualified professionals, onboarding them takes time.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
The cash transactions have been stopped at the branches belonging to the Jammu and Kashmir Bank and Ellaquai Dehati Bank.
'If supply of cash is not sufficient from the RBI, it may create difficulty for both banks and people.'
Banks are also weighing the option of hiring experts for help in specialised areas.
The government will stand guarantor for loans to be disbursed to youth from the community.
Currently, banks are closed every second and fourth Saturday of a month. Why shouldn't they be shut every Saturday? When most customers carry their banks in their pocket (the app on the mobile phone), there is no need to keep banks open on Saturdays, argues Tamal Bandyopadhyay.
Bankers said the mammoth task of cleaning up the PSBs and improving their health will be a mammoth task for any chief executive.
Around 10 crore bank accounts opened under the Jan Dhan scheme.
The Finance Ministry has invited private sector bankers.
Fadnavis assured them of transferring land rights within the next three months.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Is the RBI unable to accept with grace that beyond 55, one can have the ability to head the compliance functions in a bank, asks Tamal Bandyopadhyay.
In an attempt to mitigate the problems faced by the beleaguered diamond industry in Gujarat, the Reserve Bank of India has decided to set up a task force comprising representatives of the state government, the State Level Banking Committee Convener and other bankers.The task force will submit its report by the month-end. Gujarat's diamond industry has been beset with problems, chief among them being lacklustre Christmas-season demand for finished diamonds.
An estimated 223 people have lost their lives since August 8 in Kerala's worst floods in decades that has caused damage worth more than Rs 20,000 crore.
The Jan Dhan scheme restricts the scope of life insurance cover to bring down burden on the exchequer.
For all its claims to economic glory, the majority of India's population lives vulnerable lives, a situation that has only worsened over the past 15 years, to the extent that the government now fears to release economic data or even conduct a proper Census, notes Rathin Roy.
Department of Financial Services is regularly emphasising the early issuance of RuPay Debit Cards, e-KYC based account opening, Aadhaar seeding, financial literacy and the progress in survey made.
The average time lag between the date of occurrence of a fraud and its detection is 23 months; for large frauds (Rs 100 crore and above), it was 57 months.
Many PSBs are in the process of rationalisation of ATMs
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
Bankers have decided to fight back against 'arbitrary arrests' and 'harassment' by probe agencies.
The government's step to curtail fiscal deficit is helping the central bank's monetary policy, Rajan said.
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