Top Ad unit 728 × 90



Banking Related News/ Awareness : 10APR13

Bankers pitch for 50 bps cut in CRR :

Reserve Bank of India should cut the cash reserve ratio by 50 basis points in its
Annual Policy to ease the liquidity pressure, say bankers. In a pre-policy consultation
meeting with the central bank top brass, bankers represented that in view of the tight
liquidity situation the RBI should cut the CRR.

Rakesh Bhatia is Catholic Syrian Bank’s new MD & CEO :

Rakesh Bhatia has taken over as the new Managing Director and Chief Executive
Officer of Catholic Syrian Bank. Bhatia, a Post Graduate in Business Management
from Indian Institute of Management, Ahmedabad, has over 26 years of experience in
the field of banking and had been involved in areas of commercial, investment and
branch banking with HSBC in India as well as in countries such as Bahrain, the UK,
Hong Kong, Singapore and Indonesia.

As bad loans rise, banks seek first right over defaulting borrowers’assets:

Rising bad loans have prompted banks to seek amendments to recovery laws. They
want priority over Central and State tax authorities in pressing their claims on
defaulting borrowers’ collateral. In this regard, banks have moved the Government
seeking amendments to the two recovery laws – the Securitisation and Reconstruction
of Financial Assets and Enforcement of Security Interest Act (SARFAESI Act), 2002,
and the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (RDDB
Act). According to M. R. Umarji, Chief Legal Advisor, Indian Banks’ Association,
promoters of business create assets – plant and machinery, land and building from
loans given by banks and financial institutions. So, the lenders are justified in getting
priority when it comes to recovery of dues from defaulting borrowers.

Axis Bank raises select deposit rates by 30 bps :

Axis Bank, India’s third-largest private-sector lender, has increased interest rates on
select retail term deposits by 30 basis points (bps). The rate revision is effective from
today. The private lender will now pay 9.30 percent interest on deposits maturing in
18 months to less than two years, two years to less than 30 months, 30 months to
less than three years and three years to less than five years. The bank was earlier
offering nine percent interest on these deposits. Axis Bank’s base rate is currently at
10 percent and is higher than other large private and public sector banks.

There is a need to prevent round-tripping : Subbarao (on AML)

RBI Governor D Subbarao has said there is a need to prevent round-tripping to
prevent abuse of treaties, raising the pitch for tighter control over inflow of funds from
dubious sources. Subbarao’s comments add weight to the raging debate about the
need for nations to plug tax havens, which have become a menace. Countries, from
the US to UK to India, are working out ways to bring tax evaders to book. Roundtripping
is a form of barter that involves a company selling unused assets to another
and agreeing to buy back the same or similar assets at about the same price.
Banking Related News/ Awareness : 10APR13 Reviewed by Manohar Veera on 10:22:00 AM Rating: 5

No comments:

All Rights Reserved by Bank Exams © 2009
Technology PartnerNiralcube

Contact Form


Email *

Message *

Powered by Blogger.