India
India's c bank set to open rep office in Dubai
UAE - State-owned State Bank of India (SBI) is planning to open a representative office in the UAE this year to tap the NRI resources, SBI chairman Janki Ballabh said.
RBI panel moots pool of bank directors
INDIA - The Reserve Bank of India's (RBI) consultative group of directors of banks and financial institutions has recommended creating a pool of independent directors - approved by the RBI - to join various bank boards.
India's gold jewellery rip-off
FEATURE - Most gold jewellery advertised in India as 22-carat is of a lesser quality, a survey by the Bureau of Indian Standards (BIS) has revealed.
India's Jalan- High FX reserves hedge uncertainty
INDIA - India's growing foreign exchange reserves - at record high levels and expected to touch $50 billion by the end of the fiscal year 31 March - "take into account every uncertainty," Reserve Bank of India Governor Bimal Jalan said Friday.
India frees up bank investment rules
INDIA - Shares in India's leading banks have jumped by as much as 20%, after the government relaxed its rules on foreign investment.
Speech by Dr Y.V. Reddy of Reserve Bank of India
SPEECH - In the speech Reddy says the complexities relating to the global financial system in the context of strong national interests continuing to dominate public policy viewed in the light of Indian experience warrant, more than a legal basis,…
Laundering Bill will tighten rules, Jalan tells US
INDIA - The US has asked India to "redouble efforts against hawala" as part of the proposed measure to combat terrorist financing, Kenneth Dam, deputy secretary, US treasury department, told the media on Monday.
Speech from the Reserve Bank of India
SPEECH - The speech was by Shri V.K.Sharma and titled 'Indian Banking of Tomorrow'. In the speech he said Indian banks have always proved their adaptability to change and I am sure it would be possible for them to mould themselves into agile and…
Speech by Dr Y.V. Reddy of Reserve Bank of India
SPEECH - In the speech titled 'Indian Banking: Paradigm Shift in Public Policy' Reddy said the country's central bank desired to move to a 3 per cent cash reserve ratio (CRR) regime.
Speech by Dr Y.V. Reddy of Reserve Bank of India
SPEECH - In the speech titled 'Parameters of Monetary Policy in India' Reddy said the central bank might consider a package of measures announcing a one-time reduction in the CRR to three percent, to expedite development of markets, accompanied by…
Fischer suggests managed floating currency system
INDIA - The Indian monetary policy of not trying to peg a particular value for the rupee was good economics, Stanley Fischer said here today. The former first deputy managing director of the International Monetary Fund was speaking at a seminar organised…
Speech by Dr Bimal Jalan, Reserve Bank of India
SPEECH - In the speech 'India and Globalisation' Bimal Jalan said that Indians have to increase their work efficiency and productivity to match global standards. India is nowhere even close to being globalised in terms of the commonly used indicators…
Speech by Dr Bimal Jalan, Reserve Bank of India
SPEECH - In the speech 'Indian Banking and Finance: Managing New Challenges' Bimal Jalan said that uncertainty over the economic situation was likely to continue for the next six to nine months, but India is likely to show one of the highest rates of…
Speech by Deputy Governor, Reserve Bank of India
SPEECH - In the speech Shri G.P.Muniappan said that revisions to the BIS framework on capital adequacy, now being considered by an arm of the BIS, could mean a further increase in capital requirements for banks in emerging economies. Because banks in…
Speech by Dr Bimal Jalan, Reserve Bank of India
SPEECH - In the speech 'Corporate Governance and Financial Sector: Some Issues' Jalan said the RBI has been working on new accounting, auditing and disclosure standards. Work is also in progress in setting better internal auditing and better system of…
India RBI - Easier liquidity policy boosts econ
INDIA - The Reserve Bank of India Deputy Governor Y.V. Reddy said Wednesday that the bank will continue to follow its easier liquidity policy to boost the economy.
Reserve Bank liberalises money changing in India
INDIA - The central Indian bank, the Reserve Bank of India (RBI), has liberalised money changing facilities.
Speech by Shri Vepa Kamesam, Reserve Bank of India
SPEECH - Inaugural address delivered by Shri Vepa Kamesam, Deputy Governor, RBI at the IX Economic Convention 2001 at H.R. College of Commerce & Economics, Mumbai on December 6, 2001.
RBI wants to delicense money changers
INDIA - In tune with the financial sector liberalisation, the Reserve Bank of India (RBI) wants to delicense the money changers. It plans to get out of the business and wants the money changers to work as agents of public sector banks.
Speech by Deputy Gov of the Reserve Bank of India
SPEECH - Inaugural address delivered by Shri Vepa Kamesam, Dy. Governor, Reserve Bank of India at Administrative Staff College of India, Hyderabad at a programme on 'Governance in Banks and Financial Institutions' on 22 November.
Speech by Deputy Governor, Reserve Bank of India
SPEECH - Inaugural address by Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India at the Conference of CMDs of Public Sector Banks at IDRBT, Hyderabad on 2 November.
RBI to get real time gross settlement system, RTGS
INDIA - Logica India, the Indian subsidiary of UK-based computer services group Logica Plc, on Tuesday said it had been awarded a $16 million contract from the Reserve Bank of India (RBI) to implement a national real time gross settlement system (RTGS).
RBI nominee directors to handle risk management
INDIA - Following adverse criticism in the Lok Sabha of the role of RBI and government directors on bank boards, the ministry of finance has decided to concentrate on risk management skills of nominee directors of Reserve Bank of India and the government…
India rates hit lowest level since 1970s
INDIA - Interest rates in India have slid to their lowest rate for almost 30 years after the country's central bank - Reserve Bank of India (RBI) - cut interest rates by half a percentage point.