The World of Finance: Week of September 01st to September 07th 2014


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India: RBI

  • RBI eases rules for ECB lenders to extend loans in rupees
  • RBI introduced a number of changes in bonds issued under Basel III international banking norms as a way to make it easier for banks to raise capital and also to make such bonds attractive for investors
  • RBI sets up a first of its kind permanent digital gallery in Chennai aimed at spreading awareness on financial literacy
  • RBI sets up supervisory college for Axis Bank

India: SEBI

  • SEBI: Higher threshold limits to stay for mutual funds
  • SEBI said that listed companies must follow higher corporate governance standards and there will be no dilution to the new norms kicking in from next month

India: Finance Ministry

  • Finance ministry sets up panel to examine unclaimed deposits in PPF, bank & post office saving schemes
  • Finance Ministry to take up 35 FDI proposals
  • Foreign Ministry has approved 22 FDI proposals worth around Rs 4,000 crore
  • Finance Ministry asks RBI to tighten monitoring to check fund diversion

India: Banking Development

  • DBS Bank launched a marketing campaign with a four-part film that is a love story revolving around purpose, relationship and connectivity
  • SBI launches savings bank accounts for children
  • Corporation Bank has launched the ‘Grand Festival Dhamaka’ offer on home and vehicle loans, and loans for medical and business professionals. The offer will be on till December

India: Banking Expansion

  • Dena Bank aims to raise Rs 1,500 crore
  • Exim Bank has signed an agreement with Japan Bank for International Cooperation (JBIC) to boost infrastructure development in India as well as to enhance connectivity and regional integration between the country and its neighbours
  • IDBI Bank launches e-lounge in Mumbai branch
  • HDFC Bank launched its Secure Banking programme and plans to extend it to all its 96 branches across Odisha as part of its efforts to create banking awareness among customers
  • Union Bank of India (UBI) will raise Rs 1,386 crore through qualified institutional placement (QIP) this financial year

India: General banking

  • All India Bank Employees Association to stage protests on September 15 and 20
  • Public sector bank appointments to be under CVC vigilance
  • Kotak Mahindra Bank has appointed Farida Khambata as additional director on its board
  • Branches of Indian banks may face closure in UK crackdown
  • Andhra Bank readies to take hit as farmers stop repaying loans

India: Frauds

  • CBI arrested two suspended senior executives of UCO Bank in connection with the INR 5.73 crore loan fraud

India: They said it

  • Raghuram Rajan, Governor, RBI: Government, RBI to devise monetary framework for central bank
  • Raghuram Rajan, Governor, RBI: BRICS bank not aimed at challenging IMF, WB
  • Raghuram Rajan, Governor, RBI: Grand, big picture reforms in India may take some time
  • U K Sinha: SEBI studies its own regulatory impact
  • Rana Kapoor, MD & CEO, YES Bank: Our bank is institutionalized, not family-run

India: Forex reserve

  • Forex Reserves up $60 Mn at $318 Bn as of August 29


  • UK proposes cutting Russia off from SWIFT international banking system