1.
Canara Bank to open New ATMs ;
Canara
bank to open 2000 ATMs by March 2014, taking the total number of ATMs to over
5000 by the end of the financial year 2013-14.
2.
RBI sets up panel to review grievance redressal mechanism:
The
RBI has set-up a working group to review and make improvements in the grievance
redress mechanism for bank customers. “A Working Group has been constituted in
the Reserve Bank of India
to review, update, and revise the Banking Ombudsman Scheme, 5 2006,” the
Central Bank said in a statement. In financial year 2011-12, the Banking
Ombudsman’s office of the RBI received 72,889 complaints. It disposed off 94%
of the customer complaints in the same year, RBI said in its annual report of
the Banking Ombudsman Scheme 2011-12. (BL Dt. 06.01.2013
p.3)
3.
Give preference to non-corporate sector for new banking licences: Rangarajan:
The
RBI, while allotting new banking licences, should give preference to the
non-corporate sector, said Mr. C Rangarajan, chairman of Prime Minister's
Economic Advisory Council. “It is possible for the Reserve Bank to initially
start with non-corporate business and find out whether there are suitable
applicants and thereafter proceed to look at the other applicants,” he said, in
an interview to PTI. RBI is in the process
of finalising the guidelines for giving new bank licences. Parliament approved
the Banking Laws (Amendment) Bill last month.
4.
IMF sounds warning on bank license:
The
IMF has warned India
against licensing corporate entities to step into the business of commercial
banking, saying the risks associated with such a move potentially outweigh the
benefits of creating more banks. IMF’s Financial System Stability Assessment
Update said it would be prudent for India to first put in place and
gain sufficient experience in implementing a comprehensive framework for the
purpose before considering the entry of conglomerates into banking. “The legal,
operational and regulatory framework for consolidated supervision of both
bank-led groups and financial conglomerates is still missing some important
elements,” it said, while also flagging concerns about the lack of total
independence for the RBI from Government influence.
5.
Canara Bank reduces lending rates :
Following
the recent reduction in RBI’s Policy rates, Canara Bank has reduced its base
rate by 25 basis points, from 10.5% to 10.25% with effect from February 4. The
bank has also revised its benchmark PLR downwards by 25 bps, from 14.75% to
14.5%
