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S S Mundra News

RBI deputy governor

17 Jun 2017

PSU banks may need more than budgeted capital infusion: Mundra

RBI Deputy Governor S S Mundra has said public sector banks may require more than the budgeted Rs 10,000 crore capital infusion from the government in the current fiscal on account of higher provisioning for bad loans and haircut on stressed assets.

RBI deputy governor

16 Jun 2017

Banks may need additional Rs 10K crore infusion for bad loans: Mundra

RBI Deputy Governor S S Mundra on Friday said public sector banks may require more than Rs 10,000 crore capital infusion from the government than budgeted for the current fiscal on account of higher provisioning for bad loans and haircut on stressed assets.

consolidation of banks

12 Jun 2017

Govt actively working towards bank consolidation: Arun Jaitley

The government is "actively working" towards consolidation of banks, said Finance Minister Arun Jaitley on Monday.

bank account number portability

31 May 2017

Bank a/c number portability: You could soon be able to change your bank without changing account number

RBI deputy governor S S Mundra said once account number portability becomes a reality, banks will see silent customer moving away from them without even talking to them.

India's GDP Growth

28 Sep 2016

'GDP to bank credit growth link weakening due to alternatives'

Historical correlation between GDP growth and banks' credit expansion is fast eroding due to proliferation of other institutions, and lenders will have to make a slew of changes to regain their share, Reserve Bank Deputy Governor S S Mundra Wednesday said.

Bank depositing

19 Sep 2016

Mundra downplays money deposit issue on zero-balance accounts

Terming instances of banks depositing money to reduce the number of accounts with zero balances as not a criminal act, Reserve Bank Deputy Governor S S Mundra on Monday said such stray incidents should not distract from the larger cause of financial inclusion.

24 May 2016

RBI says 1/3rd of ATMS non-functional, warns of penal action

Mundra quoted a survey of 4,000 ATMs conducted by a Reserve Bank team recently wherein it has found that almost one-third of these machines are not in working conditions.

23 May 2016

RBI looks to check customer liability in banking frauds

The objective is to plan, evolve, prepare, develop, promote and publish comprehensive codes and standards for banks and providing fair treatment to customers.

06 Apr 2016

Transmission of recent rate cut to be more effective: Mundra

A day after the Reserve Bank cut policy rate by 0.25 percent, Deputy Governor S S Mundra today expressed hope that transmission of lower interest rate through banks will be more effective this time.

19 Oct 2015

RBI to provide more bank licences, says MundraRBI

Having allowed 23 new entities to enter the banking space, Reserve Bank Monday said it plans to grant more licences to promote financial inclusion.

09 Sep 2015

Monetary policy committee under "active" discussion: RBI deputy

The RBI is holding "active" discussions with the government on the formation of a monetary policy committee that would decide interest rates, a deputy governor of the bank, S.S. Mundra, said on Wednesday.

29 Jul 2015

Bank results indicating asset quality stability: RBI

Reserve Bank Deputy Governor S S Mundra on Wednesday said initial trends from banks' first quarter results indicate some stability on asset quality.

29 Jul 2015

RBI says 'watchful' of banks' bad loans levels

Reserve Bank of India Deputy Governor S. S. Mundra said the latest April-June earnings from state-owned lenders showed "stability" in terms of non-performing assets (NPAs), but added the central bank would remain "watchful."

India's forex reserves

14 Jul 2015

Forex reserves at 'reasonable' level: RBI

Reserve Bank Deputy Governor S S Mundra on Tuesday assured that India's foreign exchange reserves are at 'reasonable' level.

11 Jun 2015

RBI for better strategies to deal with problem of bad loans

Reserve Bank on Thursday made a case for developing better strategies to deal with the problem of bad loans as hiding them would aggravate the situation for the banks as well as borrowers.

29 May 2015

Mundra warns against herd mentality in banking

At a time when credit offtake has hit a multi-year low last fiscal, Reserve Bank deputy governor S S Mundra on Friday cautioned banks against irrational lending, saying they should not have 'follow thy neighbour' policy.

Small & payment banks

22 May 2015

Small & payment banks may get RBI licences by year-end: Mundra

The Reserve Bank is hopeful of issuing small and payment banks licences by the end of the calender year, central bank Deputy Governor S S Mundra said Friday.

23 Mar 2015

No differences with govt over setting up of PDMA: RBI

There are no differences with the government over setting up of an agency for raising public debt, RBI Deputy Governor S S Mundra said Friday.

20 Mar 2015

RBI to talk to banks about passing rate cut benefits to customers

The central bank plans to talk with lenders about passing on interest rate cuts through lower lending rates, Reserve Bank of India Deputy Governor S.S. Mundra said on Friday.

bank account portability

29 Jan 2015

'If mobile numbers can be ported why not bank a/cs'

As technological advancements continue to change the world of finance and banking, Reserve Bank Deputy Governor S S Mundra on Thursday called upon bankers to "reinvent themselves" if they want to remain relevant.

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