India
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…
High gold price hits demand in India
INDIA - India, the world's largest consumer of gold, has cut imports of the precious metal by nearly half because of the sharp rise in global prices in recent months.
India's central bank may face terrorist threat
INDIA - Amid threats from Pakistan-based militant outfits, the toughest-ever security arrangements are being put in place to ensure a trouble-free Independence Day in India.
RBI group okays e-money
INDIA - The RBI Working Group on electronic money has said that e-money could be used as a substitute for the central bank notes and coins even though it would not be "desirable" to place any limit on storing monetary value in e-money.
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.
Indian banks woo credit card users
INDIA - India's largest commercial bank plans a credit card revolution that it hopes will increase its share of the retail banking market by 47%.
For-ex reserves cross $57-bn mark in India
INDIA - India's foreign exchange reserves have shot up by half a billion dollars in one week to cross the $57 billion mark during the week ended 21 June.
Bureaucrats compete to replace RBI dep governor
INDIA - There is stiff competition to take the place of the outgoing deputy governor of the Reserve Bank of India (RBI), Dr Y. V. Reddy. According to the finance ministry, two senior bureaucrats are jockeying to control this key post which involves…
South Asian bankers to discuss clearing issues
SRI LANKA - Amid fears of war between nuclear-armed India and Pakistan, while Sri Lanka struggles for peace, South Asian central bank officials meet this week to improve processes that would boost trade in the region.
S Asian central bankers to stay clear of tension
SRI LANKA - Amid fears of war between nuclear-armed India and Pakistan, while Sri Lanka struggles for peace, South Asian central bank officials meet this week to improve processes that would boost trade in the region.
Gold price rises on war fears
INDIA - Fears of a military conflict between India and Pakistan pushed the price of gold to a 27-month high in trading on Wednesday.
There are no risk-free returns says RBI's Jalan
INDIA - It's never easy being the governor of a central bank, but for Bimal Jalan, the 61-year-old governor of RBI, the challenges just keep multiplying, reports The Times of India on Friday.
India considers establishing gold exchange
INDIA - Pressure is building on the Indian federal government to give clearance for setting up a gold exchange for spot, forward and futures trading in the precious metal.
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.
RBI gets new note verification system
INDIA - Counterfeiters of currency may face a tough time now. The public can look forward to fewer soiled notes in circulation. An advanced Currency Verification and Processing System (CVPS) has been inaugurated at the Reserve Bank of India, Bangalore,…
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…
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.