Page 26 - Shaktikanta Das

RBI plans 'college of supervisors' to prevent 'PMC Bank-like crisis'

The Reserve Bank is in the process of setting up a 'college of supervisors' to augment the supervisory skills of its key personnel, governor Shaktikanta Das has said. The development can be attributed as a response to the massive scam at Punjab & Maharashtra Cooperative (PMC) Bank, which for three years hoodwinked the regulator with cooked up books-something the annual inspection by the RBI supervisors could not notice and take preventive action. The RBI has already created a unified department of supervision and a unified department of regulation from November 1 this year, which will strengthen the oversight of commercial banks, cooperative banks and NBFCs, Das has said. The governor was addressing a closed-door conference on '50 years of bank nationalisation' organised by Ahmedabad University over the weekend. "It is our endeavour to update the knowledge and skill levels of supervisors on a continuous basis. We are adopting a multi-pronged approach in this aspect. .

Slowdown to bad debts: Shaktikanta Das's balancing act is becoming tougher

As the economy slows, the Reserve Bank governor will find it tough to keep all the balls in the air in the many roles he performs.

RBI governor for tighter controls at PSBs, proactive independent directors

Blames lack of it for elevated levels of NPAs, capital shortfalls, fraud

Closely monitoring situation at PMC Bank, forensic audit underway, says Das

PMC Bank was placed under an RBI administrator on September 23 for six months due to massive under-reporting of dud loans

FM Sitharaman to review state of economy at FSDC meeting on Nov 7

The meeting will review the current global and domestic economic situation and financial stability issues, including those concerning banking and NBFCs, sources added.

US Treasury Secretary discusses economy with RBI Governor Shaktikanta Das

The two discussed "global and domestic macro-economic scenario in both countries and regulatory developments", according to an official statement from the central bank

Will protect depositors' interests, PMC chief assures RBI governor

The meeting with Das, deputy governor and other senior officials of the Central bank came after police authorities confirmed the death of one more depositor, Fattomal Punjabi (61) due to natural cause

Will safeguard depositors' interests, PMC Bank management assures RBI

Administrator J B Bhoria and his team met Shaktikanta Das and other senior officials on Wednesday to apprise them of the position of the bank after relaxation of the withdrawal limit to Rs 40,000

RBI monetary policy panel's worries about growth signals more rate cuts

MPC concern explains Governor Shaktikanta Das's statement that the Reserve Bank of India would keep its policy stance accommodative.

Spoken to RBI guv, concerns of PMC Bank's customers will be addressed: FM

Assuring account holders of troubled Punjab and Maharashtra Co-operative Bank of support, Finance Minister Nirmala Sitharaman on Saturday said that she has spoken to the RBI governor, who assured that customers' concerns will be taken on top priority. The bank was put under "directions" by the Reserve Bank of India (RBI) last month due to weak financial health, wherein the central bank has capped the deposit withdrawals at Rs 25,000. "Spoken to governor @RBI on the #PMCBank matter. He assured me that clients & their concerns will be kept on top priority. I wish to reiterate that @FinMinIndia will ensure that customers concerns are comprehensively addressed. We understand the justified worries of the customers," she said in a tweet. PMC is in bad health allegedly due to its exposure to near-bankrupt realty player HDIL, to which it has loaned over 70 per cent of its Rs 9,000 crore in advances. Earlier this week during a media interaction, she had said, ''Finance Ministry may have ...

RBI governor Shaktikanta Das discusses rate transmission with PSBs

The RBI governor also reviewed the credit off-take situation prevailing in the economy amid a slowdown, said sources

Shaktikanta Das to meet heads of public sector banks on Tuesday

Bankers' parleys with top policymakers come at a time when growth has slowed to a six-year low due to consumption slowdown and lack of private sector investments

Why ration out rate cuts when slowdown is so sharp?

The direction is clear -- there will be more rate cuts but the pace will depend on the incoming data

More rate cuts? RBI vows to ease monetary policy as 'long as necessary'

The Reserve Bank of India lowered its benchmark repurchase rate by 25 basis points to 5.15 per cent on Friday, in line with the forecasts of a majority of economists

RBI won't let any cooperative bank collapse, banking sector stable: Das

Since the Punjab National Bank scam came to light in February 2018, the banking sector has been hit with two other major crises - IL&FS and DHFL crisis

Shortfall due to corporate tax cut can be made up by other sources: Das

The RBI will not allow any cooperative bank to collapse, said Das

No need to panic as banking sector remains sound, stable: Shaktikanta Das

The RBI is reviewing the existing regulatory framework for cooperative banks and will discuss the matter with the government, Das said

No call on Lakshmi Vilas Bank-Indiabulls merger made yet: RBI Governor

Das explained placing a lender under PCA framework is normal with lot of precedents

RBI monetary policy: Here's what experts say about the latest rate cut

The six-member Monetary Policy Committee (MPC) cut the repo rate by 25 basis points to 5.15 per cent

RBI policy: A cut in rate was expected; a cut in GDP growth target was not

The cut in GDP projection for FY20 is curious because it is also an admission that these 135 bps cuts in interest rates will not have a major impact on growth this year