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News on RBI
timesofindia.indiatimes.com, May 22, 2013
Barclays sees more aggressive RBI in cutting rates, but slower growth in FY14
The rate of inflation, which is falling faster than what was expected even a few months ago, has prompted Barclays India to raise the quantum of RBI's rate cut to 75 basis points (100 basis points = 1 percentage point) in 2013, from just 25 bps earlier. However, the economists and researchers at Barclays have also cut its economic growth target for fiscal 2014 by 20 bps to 6%, a recent report from the financial major revealed. Worse, there could further slide in the growth rate, it warned. "Recent macroeconomic data have reinforced our expectation of monetary easing by the RBI," the report said. "We are also cutting our average headline inflation forecast to 5.3% for FY14. http://timesofindia.indiatimes.com/business/india-business/Barclays-sees-more-aggressive-RBI-in-cutting-rates-but-slower-growth-in-FY14/articleshow/20195872.cms business-standard.com, May 21, 2013
Banks and regulator - all fall down
The Cobrapost sting operation and its aftermath have driven a coach and horses through the Indian banking system's ability to comply with international norms and Indian laws designed to prevent money laundering and funding of terrorism through know your customer (KYC) rules. This much is now well known; but what has not been sufficiently highlighted is that simultaneously, a wooden interpretation and application of these rules by banks - even when the Reserve Bank of India (RBI) has allowed sufficient discretion - continue to create problems for low-risk customers, making banking even more inaccessible to poor people. http://www.business-standard.com/article/opinion/banks-and-regulator-all-fall-down-113052101131_1.html News on Banks
The Economic Times, pg 21, May 22, 2013
Banks Blame Base Rate for Not Cutting Rates in Line with RBI
Base rate, the Reserve Bank of India’s tool to make Indian
News on RBI
timesofindia.indiatimes.com, May 22, 2013
Barclays sees more aggressive RBI in cutting rates, but slower growth in FY14
The rate of inflation, which is falling faster than what was expected even a few months ago, has prompted Barclays India to raise the quantum of RBI's rate cut to 75 basis points (100 basis points = 1 percentage point) in 2013, from just 25 bps earlier. However, the economists and researchers at Barclays have also cut its economic growth target for fiscal 2014 by 20 bps to 6%, a recent report from the financial major revealed. Worse, there could further slide in the growth rate, it warned. "Recent macroeconomic data have reinforced our expectation of monetary easing by the RBI," the report said. "We are also cutting our average headline inflation forecast to 5.3% for FY14. http://timesofindia.indiatimes.com/business/india-business/Barclays-sees-more-aggressive-RBI-in-cutting-rates-but-slower-growth-in-FY14/articleshow/20195872.cms business-standard.com, May 21, 2013
Banks and regulator - all fall down
The Cobrapost sting operation and its aftermath have driven a coach and horses through the Indian banking system's ability to comply with international norms and Indian laws designed to prevent money laundering and funding of terrorism through know your customer (KYC) rules. This much is now well known; but what has not been sufficiently highlighted is that simultaneously, a wooden interpretation and application of these rules by banks - even when the Reserve Bank of India (RBI) has allowed sufficient discretion - continue to create problems for low-risk customers, making banking even more inaccessible to poor people. http://www.business-standard.com/article/opinion/banks-and-regulator-all-fall-down-113052101131_1.html News on Banks
The Economic Times, pg 21, May 22, 2013
Banks Blame Base Rate for Not Cutting Rates in Line with RBI
Base rate, the Reserve Bank of India’s tool to make Indian