Banking and Customer Rights
The banking sector has definitely come a long way since nationalisation, we still are many miles behind in our target of achieving a fully inclusive banking system. Do we have a banking system where...
Internal Working Group of RBI recommends ownership of banks by industrial houses. Undoing Nationalization?
In November 2020, an Internal Working Group (IWG) of the RBI came out with a recommendation for allowing large corporate and industrial houses to promote banks and permitting promoters to raise their stakes in...
Bank Charges Should be Scrapped & Not Just Paused Out of ‘Benevolence’
The Ministry of Finance announced yesterday that, no public sector bank has increased the bank charges and will not do so in view of the COVID pandemic. The announcement came after strong backlash to Bank of...
Banks Paying Heavily for Corporate Loan Waivers: RTI
Not Write offs, Corporate Loan Waivers Banks Recovered Only 10% Bad Loans After Writing Them Off !! According to an RTI response received from Reserve Bank of India, between 2014 and 2019 scheduled commercial...
Snippets from the World of National Financial Institutions – September, 2019
Rs. 1.76 lac crore from RBI’s reserve fund transferred to Central Government RBI central board accepted the recommendations of the Jalan Committee – formed last year to review the economic capital framework for RBI’s reserved funds...
Snippets from the World of National Financial Institutions – August, 2019
Sovereign Debt: Liability in Perpetuity The announcement – made by Nirmala Sitharaman, Finance Minister of India in her maiden budget speech – that India will look for options to raise funds from external markets...
The Budget Presents Government’s Myopic Vision on the Banking Sector
The first budget of the newly re-elected government was placed on July 5, 2019, by the Finance Minister Nirmala Sitharaman. The budget failed to address the real problems of the economy like unemployment, agrarian...
Snippets from the World of National Financial Institutions – June, 2019
RBI ‘relaxes’ norms on BSBDA accounts: There are news reports mentioning that with the new notification RBI has eased norms for BSBD accounts and new facilities will be provided to Basic Saving Bank Deposit...
Don’t Fleece the Poor
Banks act as financial intermediaries between depositors and borrowers. It is the public money, deposited in the form of term deposit (fixed deposits) and time deposit (saving and current accounts) which banks use for...
डूबते खातों की भरपाई के लिए लगाए मनमाने शुल्क
Bank Charges: Punishment for the Poor and Marginalised
Bad loans have worsened the banks’ balance sheet. Because of this, the money which banks need to put aside (called provisions) for bad loans has increased manifold, resulting in a decrease of money available...
The Arbitrary Bank Charges must be Removed
Banks act as financial intermediaries between depositors and borrowers. It is the public money, deposited in the form of term deposit (fixed deposits) and time deposit (saving & current accounts) which banks use for...
Is Ownership Neutrality A Step Towards Privatisation?
The privatisation of public sector banks has been an issue of debate for a long time. Economic experts are again talking about privatisation of public sector banks (PSBs) due to current non-performing assets (NPAs)...