Reserve Bank of India
Banks get nod to act as insurance brokers
Finance Minister P Chidambaram said banks would be allowed to act as insurance brokers to increase insurance penetration in the country despite concerns expressed recently by the banking regulator against such a move. Read more
A case for converting India Post into a bank
Recently, the Reserve Bank of India constituted a high-level committee on financial inclusion under the chairmanship of K.C. Chakrabarty, Deputy Governor, RBI. Read more
RBI should allow 2 per cent interest on current account deposits: SBI
Ahead of RBI’s monetary policy review, SBI today expressed hope the central bank will cut interest rates by 0.5 per cent and cash reserve ratio (CRR) by up to one per cent to boost sagging growth. Read more
Reserve Bank of India to conduct Financial Outreach camp
The Reserve Bank of India will organise a Financial Outreach Camp later this month at Assam’s Darrang district as part of its initiative to bring the people of remote areas under the ambit of the banking structure. Read more
India may cut rates over inflation data
India’s wholesale inflation cooled to its weakest pace in 10 months in November, a sign the economy may finally be escaping a long period of price pressure and raising the chances of a rate cut in January. Read more
CIBIL ready to offer expertise to insurance companies
Credit Information Bureau (India) Limited (CIBIL) is keen to offer its expertise in minimising risks to insurance companies. Banks and other lenders in the organised sector have already been tapping its expertise in this space. “We are looking at insurance [companies]… both general and life,†CIBIL Chairman M. V. Nair said. Read more