Reserve Bank of India (RBI)
'Effective micro-finance system needed' in India
INDIA - The Reserve Bank of India has said it plans to put in place a 'more vibrant' micro-finance delivery environment by encouraging complementary and competitive models of micro-finance.
Indian banks cautioned on risks in e-banking
INDIA - The Reserve Bank of India has cautioned Indian banks about the inherent risk factors that accompany the introduction of high-tech electronic delivery system in the banking sector.
RBI forms panel to review WMA scheme
INDIA - The Reserve Bank of India (RBI) will review the ways and means advances (WMA) scheme for states in its entirety. The central bank has constituted an advisory committee for the purpose under the chairmanship of C Ramachandran, ex-expenditure…
Former RBI head proposed for slot on board
INDIA - Former Governor of the Reserve Bank of India (RBI), Mr S. Venkitaramanan's name has been proposed for appointment as a director of Reliance Industries Ltd (RIL) at the ensuing annual general meeting (AGM) of the company.
Polymer notes not now: RBI
INDIA - The Reserve Bank of India has said that there is no immediate plan to introduce polymer or plastic currency notes to replace the existing paper notes.
India's for ex reserves up $500m
INDIA - The country's forex reserves have surged by $500 million to touch $62.521 billion for the week ended September 20, 2002, as compared to $ 62.021 billion in the previous week, figures released by the Reserve Bank of India show.
RBI liberalises exchange control procedures
INDIA - The Reserve Bank of India on Wednesday said banks authorised to deal in foreign exchange may permit importers in India to avail short-term credit for periods less than three years and amount not in excess of $20 million per import transaction…
India's central bank opens note exchange centres
INDIA - The Reserve Bank of India has opened centres for the exchange of soiled notes at its three branches in Mumbai.
Rakesh Mohan takes over as RBI deputy governor
INDIA - India's former chief economic adviser, Rakesh Mohan, on Monday took over as a deputy governor of the Reserve Bank of India (RBI).
RBI to formulate policies to curb money laundering
INDIA - The Reserve Bank of India is in the process of formulating policy, procedures and controls required by banks to check the possible use of the financial system for money laundering and financing of terrorism, according to Mr Vepa Kamesam, Deputy…
RBI Annual Report confident of credit growth
INDIA - The Reserve Bank of India (RBI), in its annual report for 2001-2002 released Friday, has said that the overall stance of the monetary policy for 2002-03 would be on the provision of adequate liquidity to meet credit growth and support investment…
RBI to use post offices for coin distribution
INDIA - The Reserve Bank of India is planning to distribute coins in exchange of currency notes through post offices and even railway counters, the Hindu newspaper reports. The decision is part of its efforts to bridge the gap between excess demand from…
RBI's Jalan says drought not to affect liquidity
INDIA - Reserve Bank of India Governor Bimal Jalan on Monday said the prevailing drought condition in the country would not have any impact on the liquidity or monetary situation.
Indian banks to fortify risk management systems
INDIA - The Reserve Bank of India (RBI) has asked the commercial banks in the country not to depend entirely on the certificates issued by the chartered accountants on the financial health of corporate borrowers.
RBI - Efforts needed to safeguard information
INDIA - The provision of adequate security has assumed urgency in banks and continuous and concerted efforts have to be made to safeguard information and information systems, the Reserve Bank of India's Deputy Governor, Vepa Kamesan, said Saturday.
Speech by Dr Reddy, Reserve Bank of India, 21 Mar
SPEECH - "Establishment of a Gold Exchange would help in efficient price discovery and emergence of healthy and transparent practices in the market," RBI's Deputy Governor Y V Reddy said in a speech at a conference organised by the World Gold Council.
India's RBI discusses gold exchange
INDIA - Reserve Bank of India's Deputy Governor Y V Reddy has proposed setting up an exchange for trading in gold as part of the efforts to develop the precious metal's market in the country and integrate it with the financial market.
India RBI favour forming gold exchange - Dep gov
INDIA - The Reserve Bank of India will favor any industry proposal to form a gold exchange as the idea is "theoretically sound," said RBI Deputy Governor Y.V. Reddy Thursday.
RBI to review primary dealership arena
INDIA - Our Banking Bureau Mumbai After taking an in-principle decision to discontinue the satellite dealers, the Reserve Bank of India (RBI) is set to review primary dealers (PDs) in terms of their number, obligations, activities and regulation, said Y…
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 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.
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,…
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 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…