Thank you for inviting me this evening to the Mint's Annual Banking Conclave. The organisers have quite aptly selected an extremely topical and contemporary theme, i.e., Future of Banking: Navigating a Digital Opportunity for this year's conclave. During the previous edition of this conclave, I remember Governor Shaktikanta Das speaking about digital disruptions and blurring of boundaries between traditional banks and FinTech & BigTech. Looking at the constellation of speakers who have been engaging with you, I am sure you all have had an extremely enlightening discourse on several of the emerging issues during the conclave.
Category: BANKING
Press Release of Basel Committee on Banking Supervision on Basel-III Framework-01/06/2011
Strong capital requirements are a necessary condition for banking sector stability but by themselves are not sufficient. A strong liquidity base reinforced through robust supervisory standards is of equal importance. To date, however, there have been no internationally harmonised standards in this area. The Basel Committee is therefore introducing internationally harmonised global liquidity standards. As with the global capital standards, the liquidity standards will establish minimum requirements and will promote an international level playing field to help prevent a competitive race to the bottom.
Reserve Bank-One Nation One Integrated Ombudsman Scheme-2021
The Scheme integrates the existing three Ombudsman schemes of RBI namely, (i) the Banking Ombudsman Scheme, 2006; (ii) the Ombudsman Scheme for Non-Banking Financial Companies, 2018; and (iii) the Ombudsman Scheme for Digital Transactions, 2019
Article of Association-Afghanistan International Bank
Articles-of-association-afghanistan-international-bankDownload
AGREEMENT ON BANKING BETWEEN GOVT OF INDIA AND GOVT OF PAKISTAN – 23/04/1949
In the case of banks functioning in both or either of the Dominions, if any Muslim accounts have been transferred from West Pakistan to India without application from the depositors, such accounts should be re-transferred to Western Pakistan to a branch of the same bank or if the bank has no branch, action will be taken as in (c) below.
Central Bank Digital Currency – Is This the Future of Money-T Rabi Sankar
. Except as currency notes, all other use of paper in the modern financial system, be it as bonds, securities, transactions, communications, correspondences or messaging – has now been replaced by their corresponding digital and electronic versions.
Afghanistan Monetary Policy and Framework till the Taliban captured it
Article 62 of Da Afghanistan Bank Law states: "Da Afghanistan Bank shall be responsible for the formulation, adoption and execution of the monetary policy of Afghanistan."
Indian Govt took comprehensive measures to curb incidence of frauds in banks
RBI Master Circular on Frauds, 2015, observes that frauds are committed by unscrupulous borrowers by various methods including, inter alia, fraudulent discount of instruments, fraudulent disposal of pledged /hypothecated stocks, fund diversion, criminal neglect and mala fide managerial failure on the part of borrowers.
Government launched a Bad Bank for stressed assets as a measure to clean up bank books
The Government has launched a Bad Bank with all the regulatory approvals in place. This was stated by Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in the Lok Sabha today.
Documentary Credit(Letter of credit) – Payment Under International Trade
Documentary credit is the most used means of payment in international transactions(trade); it implies for the exporter a greater level of security in the collection of his sales. Being a given order by the importer to the issuing bank, which executes the payment against the documents required within the credit´s terms and conditions. Again a documentary credit is an undertaking given by a bank (issuing bank) of a stated amount to the seller (beneficiary) on the instruction of the buyer (applicant) to pay at sight or to a future date.
Types of Non-Banking Financial Companies registered with RBI
Non-banking financial institutions (NBFIs), engaged in varied financial activities are part of the Indian financial system providing a range of financial services. NBFCs are incorporated under the Companies Act, 1956. NBFCs can be classified into two broad categories, viz., (i) NBFCs accepting public deposit (NBFCs-D) and (ii) NBFCs not accepting/holding public deposit (NBFCs-ND). Residuary Non-Banking Companies(RNBCs) are another category of NBFCs whose principal business is acceptance of deposits and investing in approved securities. In the interest of depositors, RBI has evolved a regulatory framework the salient features of which are outlined below for the guidance of depositors
RBI Cautions against unauthorised Digital Lending Platforms
There have been reports about individuals/small businesses falling prey to growing number of unauthorised digital lending platforms/Mobile Apps on promises of getting loans in quick and hassle-free manner. These reports also refer to excessive rates of interest and additional hidden charges being demanded from borrowers; adoption of unacceptable and high-handed recovery methods; and misuse of agreements to access data on the mobile phones of the borrowers.
Advocatetanmoy Law Library 