Page-34 of Finance

India Inc disgruntled with RBI not slashing rates

June 19, 2012

India Inc is dissatisfied with RBI’s decision of keeping interest rates unchanged As per Assocham, a cut in interest rates may give some boost to the industrial sector and help the economy come back on the higher growth trajectory The ..

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K C Chakrabarty re-appointed as RBI Deputy Governor

June 19, 2012

The Government of India today re-appointed Dr. K C Chakrabarty as the Deputy Governor of the Reserve Bank of India for a further period of three months beyond June 14, 2012 or until further orders, whichever is earlier. Dr. K ..

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Indians ranked low on financially literacy survey

June 16, 2012

As per the Visa’s 2012 Global Financial Literacy Barometer survey conducted among over 25,000 people in 28 countries Indians are among the least financially literate people in the world with youth and women struggling most with their finance literacy due ..

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Banks to Create “Unique Customer Identification Code”

June 9, 2012

The RBI has asked all banks to generate a Unique Customer Identification Code (UCIC) for each of their customers. Objective: The Unique Identification Code will fortify Know Your Customer (KYC), Anti-Money Laundering (AML) and Combating the Financing Of Terrorism (CFT) ..

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Union Cabinet approves Rs 632 crore capital infusion in RRBs

June 8, 2012

Government approved capital infusion of Rs 632 crore in some RRBs (Regional Rural Banks). Objective: To improve CRAR [Capital to Risk (Weighted) Assets Ratio] for RRBs. Thus to improve their capital adequacy and lending capacity to the agriculture sector. Adopting ..

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Under scanner Rajat Guptas’s wealth at trial

June 7, 2012

Rajat Gupta’s net worth at $84 million, a trust at $38 million and $11 million in cash, is under the lens of the jurisdiction. Gupta, currently, is on trial for benefitting from inside tips he provided to Raj Rajaratnam, the ..

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Government to introduce financial literacy in school education

June 7, 2012

  The government plans to launch financial literacy in the school curriculum very soon. The knowledge of Financial & Capital markets will be disseminated in the form of primary and secondary curriculum. Objective: Enhance the household contribution into equity markets ..

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Stop foreclosure penalty on home loans: RBI

June 7, 2012

Reserve Bank of India asked banks to forthwith stop charging penalty on pre-payment of home loans taken on floating interest rates. RBI held in its notification that abandoning prepayment penalty on home loans would lead to reduction in the bias ..

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