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Banking Related General Awareness--from IIBF. org.in

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RBI draft norms take India Inc closer to banking dream
India Inc moved a step closer to realising its ambition of setting up a bank. Captains of corporate houses will soon be closeted with their finance heads to study the Reserve Bank of India's draft guidelines, and whether the eligibility criteria regarding exposure to real-estate and brokerages, among others, would be a dampener.

Some of the norms are a shade too stringent, says industry
The recommendations of RBI panel on NBFCs have drawn a mix of reactions from the NBFC industry. While broadly welcoming the alignment of regulations of NBFCs with banks on a number of issues, including accounting norms, provisions, asset classification and the like, industry captains said that some norms were a shade too stringent.
Indian Financial Institutions

Religare sees scope to enter bank business
Financial Services Firm Religare Enterprises Limited (REL) said that its promoter group (Singh family) qualified on all criteria set out in the RBI’s draft guidelines on new bank licences and that there was no reason why it shouldn’t be applying for a bank licence in the coming days.

The old order changeth, slowly
Old private banks are likely to be among those most impacted when fresh entrants come into the banking sector. Caught between a resurgent public sector bank group and the fast growing new generation banks in the private sector, the old private banks are now racing to establish a pan-India presence.

Baroda Manipal School of Banking to train prospective staff
Manipal Education and Bank of Baroda have launched the Baroda Manipal School of Banking (BMSB) at an investment of over Rs 30 crore to train prospective employees of the bank before they are absorbed as probationary officers.
Spotlight

Financial inclusion – The challenges ahead
The RBI's thrust on financial inclusion while issuing the guidelines for new banking licences is welcome. Many public sector banks (which started off as private banks 70-80 years ago) would not exist today but for the strong idealism and intuitive reaching out for financial inclusion on the part of their founders.

Companies will need Rs 500 cr to set up bank
Indian private corporates and non-banking finance companies can apply for licences to set up banks. This is, however, subject to their not having ‘significant' income or assets or both from real-estate and capital markets.

Foreign Banks

Bank of America sells half of its China bank stake
Bank of America Corp. is selling half of its stake in China Construction Bank Corp. to raise cash and shore up its capital base. The nation's largest bank by assets said it will sell 13.1 billion shares in the Chinese bank for $8.3 billion to a group of investors it declined to name. The sale, which had been expected, will generate a gain of $3.3 billion for Bank of America.



30.8.2011
Currency Rate (Rs.) Change
USD 46.01 -0.14
Euro 66.69 -0.02
GBP 75.42 -0.28
Yen (100) 59.98 -0.20


30.8.2011 16.00
Index Change
NIFTY 5001 81.40
SENSEX 16676.75 260.42


Market Updates

Sensex ends 260 points up
The Bombay Stock Exchange benchmark Sensex surged over 260 points at the end of the session today on continued buying by funds and retail investors triggered by a rally in the global markets following overnight gains in the Wall Street.

source: www.iibf.org.in/scripts/shownl.asp
Banking Related General Awareness--from IIBF. org.in Reviewed by sambasivan srinivasan on 3:25:00 AM Rating: 5

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