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Using CRLIC data, RBI trains guns on plugging gaps in NPA recognition
Armed with the latest data on big borrowers, including defaults through the Central Repository of Information on Large Credits (CRILC), the Reserve of India (RBI) is focusing on gaps in recognising bad loans across banks. This is part of annual financial inspection for the year gone by. According to senior public sector bankers, RBI has begun the annual financial inspection of banks for the year ended 2014-15 and the central bank is relying on inputs from CRILC, which became funct   [….] Read more at:

     ABN Amro seeks RBI nod to set up subsidiary
European lender ABN Amro has applied to the Reserve Bank of India to set up a wholly owned subsidiary (WoS) in India. So far, three foreign lenders have expressed interest in taking up the subsidiary route. “Apart from DBS Bank and State Bank (Mauritius), ABN Amro has applied for WoS,” RBI Deputy Governor R Gandhi said on the sidelines of an event in Mumbai. He clarified that three, and not four foreign banks as he had mentioned last month, have applied to take the WoS route so far. R    [….] Read more at:
RBI sets rupee reference rate at Rs 66.2945 against dollar
The Reserve Bank of India today fixed the reference rate of rupee at 66.2945 against the US dollar and 73.9847 for the euro as against 66.6060 and 74.6054 respectively, yesterday. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were quoted at 101.8880 and 55.07 per 100 yen, respectively, based on reference rates for the dollar and cross-currency quotes at noon.  The SDR-rupee rate will be based on this rate, the statement added.   [….] Read more at:
Special entity to take over bad loans may take shape soon 
A special purpose entity for managing and recovering banks’ piled up sticky loans may be in the offing with the government showing willingness to de-stress the banking sector, which acts as a barometer to economic development, two people familiar with the development said. It will take over a bulk of non-performing assets of banks and help companies ridden with bad debts revive. The plan would help the banks to clean their balance sheet and de-risk the economy as a whole. A cleaner    [….] Read more at:

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