India
Banks rushing to spruce up risk management
INDIA - Banks are rushing to put in place safeguards and controls to improve their risk management ability. Even as the Reserve Bank of India's (RBI) draft guidelines on "risk management systems in banks" were put in October 1999, banks - especially…
RBI pulls up IFCI for poor supervision
INDIA - The Reserve Bank of India has come down heavily on the Industrial Finance Corporation of India (IFCI) for poor supervision of its loan portfolio, lack of proper asset liability management (ALM), rollover of sticky accounts and improper asset…
India c bank revises CRR rules for deposits
INDIA - The Reserve Bank of India (RBI) has clarified that scheduled commercial banks, excluding regional rural banks, are exempt from the minimum cash reserve ratio (CRR) requirement of three percent on inter-bank term deposits/ term borrowing…
Indian committee suggests overseas clearing agent
INDIA - A committee set up to study the Indian financial system's payment and settlement modes has recommended creating an overseas clearing agent and a guarantee fund for foreign exchange clearing, a central bank statement said on 16 July.
Y V Reddy: International Financial Standards
SPEECH - Public lecture by Dr Y V Reddy, Deputy Governor of the Reserve Bank of India, at the Centre for Banking Studies of the Central Bank of Sri Lanka, Colombo, 28 June.
RBI introduces new scambusting agency
INDIA - The Reserve Bank of India is setting up an agency to specifically investigate scams in thefinancial sector. An RBI-constituted panel, headed by legal advisor to the central bank NL Mitra, at its last meeting held on 23 June in Mumbai gave the…
India's central bank issues Net banking guidelines
INDIA - Only banks licensed in India and operating a domestic branch network will be allowed to offer Internet banking in the country, according to guidelines finalised last week by the Reserve Bank of India (RBI).
Reserve Bank of India names new deputy governors
INDIA - India has appointed two new deputy governors for the Reserve Bank of India (RBI) and has extended the term of Y.V. Reddy who was to step down in August.
SBI official in running for Indian bank job
INDIA - Vepa Kamesam, managing director of the State Bank of India (SBI), is likely to be appointed as deputy governor of the central bank next month, a senior banking source said on 4 June.
India's c.bank sets stiffer bank investment norms
INDIA - The Reserve Bank of India said on Apr 23 it had set more stringent guidelines for banks' exposures to the stock market following recommendations made by an expert panel.
RBI may cut India bank rate Q2 of 01/02-JP Morgan
INDIA - India's central bank, which on Apr 19 released a monetary policy statement without any changes in rates, is expected to lower its benchmark bank rate later this year, JP Morgan Securities India said in a research report.
India may cut interest rates
INDIA - India's central bank has indicated an intention to cut interest rates to help revive the slowing economy. The governor made his comments at a presentation on monetary policy for this year.
India's cbank tightens banks' bullion trade norms
INDIA - The Reserve Bank of India has tightened bullion trading norms for commercial banks after some of them faced potential losses from their exposure to a cooperative bank that specialises in gold trade.
India's SEBI chairman likely to be replaced-paper
INDIA - The chairman of the Securities and Exchange Board of India (SEBI) D.R. Mehta is likely to be replaced as part of government changes after a recent stock market crisis, a financial daily said on April 3, 2001.
RBI dividend up 52% contains fiscal deficit
INDIA - A steep increase of over 51 per cent in the dividend payouts by Reserve Bank of India will help the Indian government to contain the fiscal deficit within 5.1 per cent.
Russian bankers to participate in symposium
A delegation of Russian bankers and economists will participate in a three day symposium in India beginning on Mar 22, 2001.
Indian Reserve Bank demands risk data
The RBI, responding to fears over the effects of market volatility on cooperative banks, has demanded information about their stock market exposures.
India's Jalan says bias to cut rates remains
The governor of India's central bank, which cut interest rates twice in recent weeks, said he continues to have a bias toward easing rates.
India economy can grow at least 8 pct per yr-RBI
India's central bank chief said on Feb 20, 2001 said he was confident the country could post annual growth of at least eight percent in the medium term. He added the economy was resilient enough to handle external and internal shocks such as last month's…
Indian industry cheers central bank's rate cuts
Indian industry cheered the central bank's decision on Feb 16, 2001 to lower interest rates, saying it would help ease the country's industrial slowdown. The Reserve Bank of India (RBI) said it was cutting its benchmark bank rate to 7.5 percent from 8.0…
RBI eases bank export credit rules post-quake
The Reserve Bank of India (RBI) has allowed banks to extend export loan maturities and waive some interest charges to exporters affected by last month's [January 2001] earthquake in the western India state of Gujarat. In a directive issued on Feb. 6 to…
Reserve Bank of India names executive director
The Reserve Bank of India on Feb. 2, 2001, appointed SL Parmar as executive director with immediate effect. Parmar was chief general manager-in-charge at the bank's administration and personnel management department. There are eight executive directors…
RBI outlines universal banking roadmap
The Reserve Bank of India has warned against any dilution of prudential and supervisory norms for banking business, while suggesting a consolidated approach towards supervision and regulation.