Fema / RBI : Discover RBI's liberalized remittance rules for IFSCs under LRS, allowing all permissible transactions. Learn about IFSCs, LRS eli...
Fema / RBI : Discover RBI's stringent guidelines on digital lending post-COVID. Learn key regulations for banks and NBFCs, ensuring fair practi...
Fema / RBI : Gain insight into the RBI circular clarifying overseas investment rules for resident individuals and listed Indian companies, incl...
Fema / RBI : Explore RBI's forward-looking surveys on consumer confidence, inflation expectations, and economic forecasts. Understand their imp...
Fema / RBI : Learn how to compute Adjusted Net Bank Credit (ANBC) for Priority Sector Lending (PSL) targets, including adjustments for PSLC, TL...
Fema / RBI : Discover RBI's third global hackathon, 'HaRBInger 2024 - Innovation for Transformation,' aimed at enhancing India's financial land...
Fema / RBI : The ability for cardholders to determine their billing cycle signifies that credit cards are not merely tools for cashless transac...
Fema / RBI : Explore FAQs on Credit Card Issuance, Activation, Usage, and Complaints. Understand rules, rights, and procedures in the Master Di...
Fema / RBI : Discover exponential growth of UPI transactions in India, from Rs. 1 lakh crore in FY 2017-18 to Rs. 139 lakh crore in FY 2022-23....
Corporate Law : Reserve Bank of India (RBI) has released a comprehensive report by the Inter-Departmental Group (IDG) on the internationalisation...
Fema / RBI : RBI directs NBFCs to adhere to a Rs 20,000 cash loan disbursement limit, aiming to regulate cash transactions and enforce complian...
Corporate Law : Unraveling the NCLAT Chennai verdict in the GVK Energy Vs Axis Bank case, underscoring the supremacy of IBC over RBI's directions ...
Company Law : Reserve Bank of India Vs Srei Infrastructure Finance Limited (NCLT Kolkata) 1. The Court convened via video conferencing. 2. This ...
Fema / RBI : Supreme Court mandates strict procedures for bank lockers. Ensure compliance, notify changes, maintain records. Judgment details i...
Fema / RBI : In re Cognizance for Extension of Limitation (Supreme Court) With reference to the prayer, that the period of validity of a cheque...
Fema / RBI : fter a detailed assessment of the evolving macroeconomic and financial developments and the outlook, it decided by a 4 to 2 majori...
Fema / RBI : RBI unveils the definitive framework for recognizing Self-Regulatory Organizations (SROs) in the FinTech sector, aiming for balanc...
Fema / RBI : Discover the RBI's new PRAVAAH portal, streamlining regulatory approvals. Apply online seamlessly with key features. Track your ap...
Income Tax : The Ministry of Finance exempts RBI from Section 206CCA of Income Tax Act, 1961 through Notification No. 46/2024 dated 27th May, 2...
Fema / RBI : RBI's internal review leads to withdrawal of outdated circulars from 1995 to 2006. Learn the details, implications, and analysis o...
We are at the cusp of a defining decade in the banking system. The Indian banking system has come a long way in terms of technology, business systems and processes. It has weathered the global economic crisis, but going forward it needs to focus on the key drivers of growth to be globally competitive. The lodestone of external impulses would be financial inclusion and the other key stones would be competition, consolidation and globalisation. The regulatory drivers would be more stringent regulations, essentially in fair treatment to customers, know your customer norms and risk management. The internal impetus would be provided by the unique human resources opportunities created by impending retirements, leveraging technology to increase reach, lower costs and provide improved customer service and to re-orient the organisation to be customer centric in all its manifestation. It would require the complete involvement of the top management and board of banks. Each one of you has a role to play in this agenda and stretch to achieve the objectives that would make your organisations from good to great and take it to the next orbit.
Good governance is a necessary condition for not only economic growth and development but for an easy and comfortable society where we can go about our business – confident and unruffled. Good governance is of utmost importance for the financial sector but needs to be complemented by alert and efficacious regulation and supervision so as to build and maintain confidence of the savers and the investors. We, as a nation, have begun our journey and the tryst with our destiny and we need continued confidence of all our stakeholders to reach our destination. Our responsibility towards good governance cannot be overemphasized. In this endeavour needless to mention that members of this august audience are the principal actors.
Reserve Bank of India has said that all private sector banks will now be considered eligible to handle any Central or State Government at par with public sector banks. Till now, only three private banks, namely ICICI Bank Ltd, HDFC Bank Ltd and Axis Bank Ltd were appointed by RBI as its agents to carry out limited general banking business.
There has been appreciation for India for weathering the financial crisis relatively unscathed. Much of it hinged on the sound and resilient banking system in the country. The foundation for the banking sector resilience was laid with the introduction of the financial sector reforms in 1991 with focus on prudential regulation and increased competition. These reforms resulted in a comprehensive transformation of the banking sector. The reforms had a major impact on the overall efficiency and stability of the banking system. The outreach of banks increased in terms of branch / ATM presence. The balance sheets and overall banking business also grew in size. The financial performance and efficiency of Indian banks improved with increased competition, as reflected in their profitability, net interest margins, ROA and ROE. The capital position improved significantly, and banks were able to bring down their non-performing assets sharply. This reform phase also witnessed increased use of technology which in turn, helped improve customer service.
The Reserve Bank of India today released the Macroeconomic and Monetary Developments Third Quarter Review 2011-12. The document serves as a backdrop to the Monetary Policy Statement to be announced on January 24, 2012.
The Reserve Bank will shortly issue Rs 100 notes which will have the rupee symbol. The design of the notes to be issued is similar in all respects to the existing Rs 100 in Mahatma Gandhi Series-2005 issued earlier, except for the rupee symbol.
Over the last five years, a word became very popular around the world. It dominated discourses amongst policy makers. It consumed innumerable hours of prime time on television. It spanned across meetings in offices, dinner table conversations, and informal chit chat between friends. The word is ‘crisis’. It has become almost a norm for speeches and addresses such as this to start with a reference to the crisis. This address, and indeed the subject of this seminar, is no different. Yet the subject remains as topical today as it was five years back when the global financial crisis first came to light.
IIT, Kharagpur is one of the very few educational institutes of India which has a strong linkage to our struggle for Independence and our vision for the future India. The Institute started its illustrious journey from Hijli Detention Camp where some of our freedom fighters were kept captive and had to make the supreme sacrifice for the freedom of our country.
In the global context, shrinking money could possibly be related to advanced countries’ fiscal excesses which have been fully accommodated by their respective central banks in conducting monetary policies. In other words, despite inflationary risks in the medium-run from the persistent easy monetary and liquidity conditions created by their central banks, monetary policy has no choice but remain subjugated to the fiscal excesses and the impact of such excesses on the economy. Moreover, monetary policy strategy in advanced economies has explored new options, particularly after hitting zero nominal interest rate bound, such as “quantitative easing” and “twist operations” but their effectiveness in delivering a durable robust recovery in growth has belied expectations.
payment systems are continuously evolving, it is necessary that all the stakeholders including the regulators are continuously engaged in gearing up to provide safe, efficient, robust, accessible and affordable payment services to our citizens. The challenge therefore, is to understand the various issues and the subtle nuances of this ever evolving payments landscape and devise appropriate strategies- in short we should continue to stay ahead of the curve. Have we as an industry been able to achieve this? I have accordingly focused my thoughts on some issues in payment systems which I think need our collective attention.
