While a debate is going on whether the RBI should do more to ease credit to MSMEs, officials said the central bank has provided special training to nearly 11,000 officers at various commercial banks on lending to micro, small and medium enterprises. This training has been provided to officers working at nearly 3,000 bank branches covering all districts in India through more than 2,000 special workshops in the last three years, officials said.These are mostly specialised bank branches catering to the MSME sector where this multi-level training has been provided, covering branch managers, senior officers and even faculty members of staff colleges who can further pass on the training to the bank employees.Most importantly, the training exercise was executed in consultation with the government, including with the active involvement of the MSME ministry and the RBI's objective has been to create a conducive environment to help these small entrepreneurs and companies avail easy and faster … [Read more...] about RBI trains 11,000 bank officers on MSME credit, nearly 3,000 branches covered
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Amol AgrawalThe Reserve Bank of New Zealand (RBNZ) has long been a pioneer of many things in central banking. The RBNZ pioneered the practice of inflation targeting 30 years ago in 1989 which soon became a gold standard for central banking worldwide. After the 2008 crisis, it continued to be a pioneer in both monetary policy and financial stability.The RBNZ has made another recent change which is interesting and worth exploring for other central banks.Close Till November 2018, the RBNZ senior management comprised one governor, one Deputy Governor (in charge of financial stability) and two assistant governors — one responsible for economics and the head of operations. On November 2, 2018, the central bank reorganised itself and this led to number of assistant governors increasing from two to five. The new functions given to the three new AGs were: governance, strategy and corporate relations; people and culture and chief financial officer. related news RBI supersedes … [Read more...] about Banking | Should RBI have a Deputy Governor based outside Mumbai?
In the week gone by, Moneycontrol reported an exclusive on Bank of Baroda (BoB) scouting for buyers to sell part of its stake in the AMC venture.According to a source, BoB Capital Markets has been hired as the investment banker to manage the stake sale and the bank has already started the bidding process for selling stake in the AMC.In December 2017, BoB purchased 51 percent stake held by foreign partner Pioneer Investments in their joint venture asset management company, raising its shareholding to 100 percent, subject to regulatory approvals. Both the partners are still awaiting the regulator’s consent.Close Pioneer Global Asset Management SpA had acquired 51 percent in BoB Asset Management in 2008 and will now exit the venture. A senior executive told Moneycontrol: “Yes, even as we are in the process to buy the stake, we are looking at selling some stake if we get a good valuation before itself...We may sell whatever we have bought from Pioneer.” … [Read more...] about MF weekly wrap: Bank of Baroda starts process to sell stake in mutual fund biz
After reports of mounting tension between the ministry of finance and the Reserve Bank of India (RBI) over the autonomy of monetary policy, Ananth Narayan, professor, SP Jain Institute of Management and Research (SPJIMR), said the central bank and the North Block must stop acting like squabbling kids and act with maturity that the country requires at this point in time.Narayan told CNBC-TV18, "It's great that we have fantastic external context right now and that is a huge relief. Iran and oil prices are coming down, China-US possibly making up, dollar weaker and midst of all this, it's the last thing we need that people outside starting to question us."The row was sparked off last week when RBI deputy governor Viral Acharya in a hard-hitting speech warned that undermining central bank's independence could be "potentially catastrophic", possible indication of the RBI being pushed to relax its policies ahead of general elections next year.Close According to media reports, … [Read more...] about Stop acting like squabbling kids: SPJIMR’s Ananth Narayan to RBI and North Block
BOI AXA Mutual Fund is aiming to mop up Rs 100-200 crore through the new fund offer of BOI AXA Arbitrage Fund, said Alok Singh, Chief Investment Officer, BOI AXA Mutual Fund.“Looking at the recent launches in the similar category from other fund houses, we believe our fund should be able to collect Rs 100-200 crore from this new launch,” Singh told Moneycontrol.The open-ended scheme will open for subscription on May 31 and close on June 14.Close Arbitrage Fund strategy involves taking advantage of the price differential of the stock between the cash market and the futures market. related news Kiran Mazumdar Shaw settles alleged insider trading case with Sebi in Infosys matter Fiat Chrysler to recall nearly 700,000 SUVs for electrical fault risk OYO appoints Betsy Atkins as independent director The fund manager simultaneously buys shares in the cash market and sells it in futures or derivatives market. The difference in the cost price and selling price is the … [Read more...] about BOI AXA Mutual Fund aims to garner Rs 200 crore via arbitrage fund NFO