Mottos for Success-281
“Don’t let the Customer suffer because of internal bickering.”
1. Commodity traders will have to bear the same margin requirements as that for stockbrokers. RBI has asked banks to maintain a minimum margin of 50% and minimum cash margin requirement of 25% (within the range of 50%) for guarantees issued on behalf of commodity brokers in favour of national commodity exchanges such as NCDEX, MCX and NMCEIL. This guideline already applies to guarantees on behalf of share and stockbrokers.
2. SBI Chairman, has said that interest rates have more or less peaked and maintained that rates would remain stable in the short-term. SBI & other banks have been raising deposit rates to attract more funds for lending.
3. Banks are slowly choking credit flows to the retail sector in a bid to provide borrowing costs to productive sectors of the economy. The RBI and the Ministry of Finance have directed Banks to maintain credit flows to the productive sector viz; farm, infrastructure and the manufacturing sectors, at all costs and under all circumstances. In fact, bankers have been told to bring down their retail, including housing loan exposures, from the current levels. Retail loan portfolios averaged about 25% of net bank credit.
4. The Parliamentary Standing Committee on Personnel, Public Grievances, Law and Justice would like the PSBs to strengthen their own internal systems for redressal of public grievances.
5. Yes Bank has opted for FinnOne Total Management Solution from Nucleus Software. The selection of this product FinnOneTM, loan management and cash collection suite would help the bank offer value added retail liability and asset offerings, and third party wealth management products to its customers. The bank, witnessed a significant build-up in its Retail Banking and Wealth Management functions. It will continue to strengthen through the state-of-the-art Retail Banking platform nationally.
6. Banks are pleading with the RBI for permission to sell `short' - selling what they don't possess as yet- Government securities that are not yet issued by the RBI in the first place. Banks are seeking this facility under an arrangement where the RBI invites bidders to quote for securities that would soon be issued, but the bids themselves could be made on a `when issued' basis and hence the expression, `when-issued' market. It has been five months since the `when-issued' market for trading in Government securities ahead of auctions, came into being. Yet, the volumes in the `when-issued' market have been low with participation restricted to just three primary dealers and one or two banks.
7. RBI has simplified the procedures for project and service exports, such as deployment of temporary cash surpluses and inter-project transfer of machinery and funds. These will provide more flexibility to exporters and were subject to monitoring by banks. Exporters will now be allowed to use the machinery or equipment used for a turnkey or construction abroad, for executing a contract in another country.
8. Barclays Bank would this year commence its retail and commercial banking business in the country and expressed commitment to bring in at least $100 mn into this business in 2007. It has already invested$300 mn and is committed to bring in another at least $100 mn this year specifically for retail and commercial banking business. We are willing to invest in India for the longer term.
“Don’t let the Customer suffer because of internal bickering.”
1. Commodity traders will have to bear the same margin requirements as that for stockbrokers. RBI has asked banks to maintain a minimum margin of 50% and minimum cash margin requirement of 25% (within the range of 50%) for guarantees issued on behalf of commodity brokers in favour of national commodity exchanges such as NCDEX, MCX and NMCEIL. This guideline already applies to guarantees on behalf of share and stockbrokers.
2. SBI Chairman, has said that interest rates have more or less peaked and maintained that rates would remain stable in the short-term. SBI & other banks have been raising deposit rates to attract more funds for lending.
3. Banks are slowly choking credit flows to the retail sector in a bid to provide borrowing costs to productive sectors of the economy. The RBI and the Ministry of Finance have directed Banks to maintain credit flows to the productive sector viz; farm, infrastructure and the manufacturing sectors, at all costs and under all circumstances. In fact, bankers have been told to bring down their retail, including housing loan exposures, from the current levels. Retail loan portfolios averaged about 25% of net bank credit.
4. The Parliamentary Standing Committee on Personnel, Public Grievances, Law and Justice would like the PSBs to strengthen their own internal systems for redressal of public grievances.
5. Yes Bank has opted for FinnOne Total Management Solution from Nucleus Software. The selection of this product FinnOneTM, loan management and cash collection suite would help the bank offer value added retail liability and asset offerings, and third party wealth management products to its customers. The bank, witnessed a significant build-up in its Retail Banking and Wealth Management functions. It will continue to strengthen through the state-of-the-art Retail Banking platform nationally.
6. Banks are pleading with the RBI for permission to sell `short' - selling what they don't possess as yet- Government securities that are not yet issued by the RBI in the first place. Banks are seeking this facility under an arrangement where the RBI invites bidders to quote for securities that would soon be issued, but the bids themselves could be made on a `when issued' basis and hence the expression, `when-issued' market. It has been five months since the `when-issued' market for trading in Government securities ahead of auctions, came into being. Yet, the volumes in the `when-issued' market have been low with participation restricted to just three primary dealers and one or two banks.
7. RBI has simplified the procedures for project and service exports, such as deployment of temporary cash surpluses and inter-project transfer of machinery and funds. These will provide more flexibility to exporters and were subject to monitoring by banks. Exporters will now be allowed to use the machinery or equipment used for a turnkey or construction abroad, for executing a contract in another country.
8. Barclays Bank would this year commence its retail and commercial banking business in the country and expressed commitment to bring in at least $100 mn into this business in 2007. It has already invested$300 mn and is committed to bring in another at least $100 mn this year specifically for retail and commercial banking business. We are willing to invest in India for the longer term.
