▪ Last Finance SEG Call held on Thursday, November 7th, 6PM to 7PM. ▪ Agenda: ▪ Mr. Anshuman Tiwari, Vice President, Process Consulting, HSBC Technology and Services - Service Delivery, shared his business excellence journey ▪ Excerpts from the call will be published shortly
Upcoming Finance SEG Call
▪ Finance SEG Call on Thursday, January 2nd, 4PM to 5PM. ▪ Agenda: ▪ Sharing of Best practices ▪ Discuss current challenges
India: RBI
▪ RBI is planning to introduce the concept of Treat Customers Fairly (TCF) for sale of third-party products by banks. Under TCF norms, it is not enough for banks to merely stick to rules, they must prove that they have acted in the best interest of the customer ▪ In its annual ‘Trends and Progress of banking in 2012-13’ report, RBI favoured liberalization of bank licensing policies ▪ RBI asks banks to fine-tune loan recovery, due diligence for NPAs ▪ RBI extends bank’s special forex window till December 31 ▪ RBI: India’s banking industry needs to grow from Rs. 115 lakh crore in 2012 to about Rs.288 lakh crore by 2020 to support economic growth as per the 12th Plan
India: SEBI
▪ SEBI has seized and attached assets worth about Rs 500 crore of defaulting companies in the past two months. The move came after it was given new powers that included freezing bank accounts and attaching properties ▪ SEBI: MCX-SX is well protected from NSEL crisis ▪ SEBI panel plans to modify the ESOP rules
India: Deposit Rates
▪ Indian Overseas Bank raises interest rates to 9.50% under NRE Term deposits of 3 years and above ▪ Karnataka Bank Ltd raises interest rates on domestic deposits by 25 bps across various maturities
India: Fund Raising activity
▪ ICICI Bank raises $750 million from sale of overseas bonds ▪ UBI raises additional capital to the extent of Rs 2,000 crore by issuing Basel III-compliant unsecured redeemable non-convertible tier II bonds ▪ Allahabad Bank to issue equity shares upto Rs 400 crore to the GoI on preferential basis
India: Data
▪ Rs 3,652 crore lying idle in bank accounts as on December 2012. More than 1.33 crore accounts of all kinds are not operated ▪ Bank loan frauds almost doubled in 2012-13 adding up to Rs 6,212 crore against Rs 3,183 crore in 2011-12 ▪ India’s gold imports are likely to fall by 40% to 500 tonnes in the current FY
India: Banking Developments
▪ Private banks are leveraging online social networks sites, like Facebook and Twitter, to engage customers and boost brand visibility. Facebook, which reaches out to over 70 mn people in urban India, about 90% of the social media user base, is the most popular social media channel for banks ▪ Axis Bank gets approval from FIPB to its proposed increase in foreign investment holding to 62%. Axis Bank will become a “foreign- owned” lender, to be governed by FDI policy and will have an inflow of over Rs 6,200 crore
India: Banking expansions
▪ As a mark of completion of 108 years in March 2014, Canara Bank will expand from 87 to 108 branches in the North-East by March next year ▪ DBS Bank to open 50 branches in India in 3 years ▪ Bank of India to open 30 branches in Bihar this fiscal year ▪ Central Bank of India launches Credit card against Fixed Deposit, an addition to existing product portfolio ▪ Indian commercial banks are expanding their footprint in Africa. Retail banking in Sub-Saharan Africa is estimated to grow 15% annually by 2020
India: General banking
▪ IDFC, LIC Housing Fin have higher chances for new bank licences: Goldman Sachs ▪ United Forum of Bank Unions to observe one-day strike on December 19 ▪ Prime Minister Manmohan Singh inaugurated the first women commercial bank of the country, the Bharatiya Mahila Bank in Mumbai on 19th Nov, 2013 ▪ In its 90-year history, Andhra Bank is doing business without a Chairman and Managing Director for almost a quarter
India: They said it
▪ P Chidambaram on Inflation: “We hope that the WPI-based inflation rate will moderate to a level below 5%” ▪ Raghuram Rajan on Banking Sector: “I see over the next few years a dramatic remaking of the banking landscape”
India: Frauds
▪ In Ludhianan, nine people, including three bank managers, have been booked for using forged property documents to take a loan of Rs 60 lakh
India: Forex reserve
▪ Forex reserves jump by $1.46 bn to $283.6 bn
International:
▪ China Banking regulator orders more disclosure on a crucial shadow bank element of Wealth Management Products. Many WMPs are recorded off-balance-sheet and are used to finance lending to risky sectors ▪ Yi Gang, the deputy governor of the People’s Bank of China says it is would be impossible for China’s central bank to recognize Bitcoin as a legitimate financial instrument in the near future. But, people are free to participate in the Bitcoin market
Previous Finance SEG Calls
▪ Finance SEG call held on Thursday, September 5th, 6PM to 7:30PM ▪ Agenda: ▪ Mr. Vineet Sharma, Executive Vice President, Quality and Service Excellence, Max Life Insurance Co. Ltd., shared his business excellence journey at Max Group ▪ Kindly click here to view the recorded webinar ▪ Kindly click here to read the excerpt from interview with Mr. Vineet Sharma
