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The White Paper on the Economy, presented by Union Finance Minister Nirmala Sitharaman, discusses the economic mismanagement of the United Progressive Alliance (UPA) government in India. It compares the economic performance of the UPA years to the 10 years of the Narendra Modi government. The paper highlights issues such as double-digit inflation, ailing banking sector, and high policy uncertainty during the UPA years. It also mentions the mismanagement of public finances and the impact of scams on the economy. The paper concludes by stating that the Modi government has stabilized and set the economy on a path of sustained high growth. [Extracted from the article]

The article focuses on a report released by the Reserve Bank of India (RBI) regarding increasing supply of credit for large borrowers in India through market mechanism. Topics discussed include mitigation of risk of incremental exposures of banks posed by borrowers, a report by the State Bank of India (SBI) regarding cash inflow entailing normally permitted lending limit (NPLL) in Indian commercial paper (CP) market and suggestions regarding standard asset provision on bank exposures.

(Bloomberg Gadfly) -- India's King Cash Must Abdicate to Fintech Knights: Gadfly A unified payments interface, which is now live, will enable instant movement of cash from one mobile phone to another, using virtual payment addresses linked to any account at 21 participating banks. [Extracted from the article]

The article reports on the performance of the stock market of India as of November 2014. Topics discussed include power stocks that witnessed rising volumes such as Alstom India Ltd., Adani Power, and JSW Energy, the performance of the Indian banking sector, and the performance of stock of the infrastructure company NCC.

MCT Cards & Technology Private Ltd., a subsidiary of Manipal Technologies Ltd. and a manufacturer of banking and smart cards, has delivered self-serve banking kiosks to banks in India under the recent 75 Digital Banking Units in 75 Districts initiative... [ABSTRACT FROM AUTHOR]

Traders who wish to short Indian bonds need to use the CROMS platform to borrow the paper from banks against a short-tenor loan paying them as low as 0.01% at times of high demand. The 6.17% note maturing in 2021 was offered at a negative yield of around 1.5%, according to traders who saw the quote on the Clearing Corporation of India's Negotiated Dealing System -- Order Matching, or NDS-OM platform. [Extracted from the article]

(Bloomberg) -- Rushing to sell Indian state-run lenders to private investors may hinder the government's financial inclusion efforts and monetary policy transmission, staff at the country's central bank warned. "A big bang approach of privatization of these banks may do more harm than good", wrote staff including, Snehal Herwadkar, in a research paper published Thursday. [Extracted from the article]

The weighted average call rate, which the Reserve Bank of India closely monitors, has held above the policy rate for most of the past month and even breached the emergency funding rate of 6.75% on some days. Yields on shorter commercial paper declined between five and 10 basis points while rates on treasury bills also retreated in secondary trading, traders said. (Bloomberg) -- India's shorter bonds rallied and money market rates eased on bets that a withdrawal of the nation's highest value currency note would leave banks with surplus cash to invest. [Extracted from the article]

Yields on shorter commercial paper declined between five and 10 basis points while rates on treasury bills also retreated in secondary trading, traders said. The weighted average call rate, which the Reserve Bank of India closely monitors, has held above the policy rate for most of the past month and even breached the emergency funding rate of 6.75% on some days. (Bloomberg) -- India's shorter bonds rallied and money market rates eased on bets that a withdrawal of the nation's highest value currency note would leave banks with surplus cash to invest. [Extracted from the article]

(Bloomberg) -- India's central bank proposes tighter regulations for large shadow lenders to prevent events such as the collapse of a major financier in 2018, the effects of which still linger in the nation's financial system. The paper follows a speech in November by the top RBI official in charge of banking regulation, where he said big shadow lenders must convert themselves into banks or scale down operations. [Extracted from the article]

Confidence in AA rated non-bank lenders is yet to fully recover though, with investors demanding a 169 basis point premium, about 39 basis points more than the pre-crisis average. Commercial paper and mutual fund money have dried up from many since the crisis began, and shadow lenders have been forced to rely more on regular bank funding. [Extracted from the article]

India's non-bank lenders rose after a news paper reported that the Reserve Bank of India will offer them a credit line to help the shadow banks tide over a liquidity crisis. The non-bank lenders, which have been hit by high borrowing costs and largely shut out from the bond market after the crisis at shadow lender IL&FS Group broke out last year, are facing trouble raising funds. [Extracted from the article]

Today the financial services, particularly the banking sector plays a critical role in the economy both in the provision of employment and also in foreign currency inflow to the economy. The younger the generation the more they are used to the new technological advancements as compared to the older generation, thereby they are more likely to adopt Internet banking. The higher the education level achieved, the greater the probability of the customer adopting Internet banking; The higher the income ladder, that is the more affluent people are more likely to possess a personal computer, thus more is the tendency to use Internet banking. Growth of the Internet, consumer comfort with technology, and demographics (younger persons in higher income groups), combined with low-cost PC and Internet banking solutions, have made expansion inevitable. Banks have transformed themselves and are offering services through internet. As from computerization to networking to ATMs and now E-Banking, banks have moved up the value chain. Based on an extensive review of literature, the paper uses empirical research to analyse service quality of internet banking services provided by banks in Tirunelveli District and level of customer satisfaction in e-banking. This research is useful for banks in order to improve electronic service quality in banking environment [ABSTRACT FROM AUTHOR]

The article reports that Indian Prime Minister Narendra Modi said on October 19, 2015 that the government would allocate 70,000 Rupees crore in public sector banks (PSBs) in the near future. Topics covered include how the Indian government has launched a series of banking reforms such as re-capitalisation of PSU banks and changes in the rules for hiring executives as well as paper-less transactions to deal with the problem of black money.

The 6.17% bond maturing in 2021 was offered at a negative yield of around 1.5%, according to traders who saw the quote on the Clearing Corporation of India's Negotiated Dealing System -- Order Matching, or NDS-OM platform. (Bloomberg) -- A negative yield was quoted for the first time ever on India's sovereign bond trading platform Friday, traders said, triggering intense speculation about the motive. [Extracted from the article]

Confidence in AA rated non-bank lenders is yet to fully recover though, with investors demanding a 184 basis point premium, about 54 basis points more than the pre-crisis average. Commercial paper and mutual fund money have dried up from many since the crisis began, and shadow lenders have been forced to rely more on regular bank funding. [Extracted from the article]

(Bloomberg) -- India's banks and bondholders stand to recover less in insolvency resolutions under a proposed change in law that would apportion more to junior creditors, such as unpaid vendors and the government, according to restructuring and insolvency professionals. Secured creditors, typically banks and bondholders, would continue to have first claim on proceeds of an insolvency resolution plan, but only up to the liquidation value of the corporate debtor. [Extracted from the article]

(Bloomberg Opinion) -- Can Central Banks Go Broke? Under pressure to return surplus capital to a resource-strapped government, Patel should borrow an idea from Buiter's paper to argue that very little of the central bank's assets and liabilities are actually visible. [Extracted from the article]

This article from Bloomberg.com provides a summary of key news and events in the Indian markets. It mentions that Nifty futures are signaling a firm start after a surge in private banks lifted the frontline indexes to new highs. The article also highlights the increasing demand for new listings in India, with several IPOs seeing demand exceed 90 times the shares offered. Additionally, it mentions that water infrastructure investment is expected to gain momentum due to rising water stress in the country. The article concludes by noting that big banks are back in the driver's seat, with the NSE's banking sector gauge rising above its pre-election peak. [Extracted from the article]

The article reports on medium term note (MTN) deals involving Indian banks. Axis Bank rolled out one year dollar deals that were priced at par. A 100 million U.S. dollar floater has been released by the State Bank of India on February 29, 2012. Indian Bank issued a fixed note deal amounting to 100 million U.S. dollars.

In this article the author presents his ideas on good investment opportunities in India for 2009. His list is based on those firms which show potential and who offer discounted prices. His first recommendation is the Punjab National Bank, a Public Sector Undertakings (PSU) bank whose reported net interest income increased by 38% with a net profit of 40%. The Corporation Bank and the Oriental Bank of Commerce (OBC) are two other PSU banks cited, the former available at above a 55% discount and the latter with a 30% increase year on year for December 2008.

LazyPay, a buy-now-pay-later provider in India, has partnered with SMB Bank India to launch LazyCard, a prepaid card backed by a credit line. The companies aim to empower financially underserved Indians by offering access to credit, according to a press release. The card is powered by Visa and SMB Bank India and can be linked to the LazyPay app. [ABSTRACT FROM AUTHOR]

Congress leader Rahul Gandhi has stated that the INDIA bloc will not allow the BJP to alter the Constitution. He emphasized the importance of the Constitution, which granted rights to marginalized groups, and criticized Prime Minister Modi for his divisive speeches. Gandhi also pledged to scrap the Agniveer scheme and implement a permanent job and pension scheme if the INDIA bloc forms the government. RJD leader Tejashwi Yadav announced a plan to provide financial support to poor families in Bihar. [Extracted from the article]

Axis Bank, based in India, has added donation as a category to Bharat Bill Payment System to allow its customers to make charitable contributions. It is the only BBPS biller operating unit to enable this feature, according to a press release. With these digital donations, charities can lower costs and they can accept link-based payments. [ABSTRACT FROM AUTHOR]

The article reports on the changes in the cash management for payment systems implemented by the bankers in India. Accordingly, the Reserve Bank of India (RBI) implemented the electronic payment system since the 1990s to expedite bank transactions. However, adoption to the electronic system had been slow as consumers remain skeptical on the benefits and value of the system.

The article reports on a study by development consulting firm MicroSave about savings that banks and telecommunications companies in India can realize from using the Aadhaar-enabled electronic KYC process for customer acquisition activities.

(Bloomberg) -- A negative yield was quoted for the first time ever on India's sovereign bond trading platform Friday, traders said, triggering intense speculation about the motive. The 6.17% bond maturing in 2021 was offered at a negative yield of around 1.5%, according to traders who saw the quote on the Clearing Corporation of India's Negotiated Dealing System -- Order Matching, or NDS-OM platform. [Extracted from the article]

India's Axis Bank's AI-powered voice assistant bot, Axaa, can converse with banking customers in English, Hindi and 'Hinglish'. The bot was developed in partnership with Vernacular Ai, and can answer many customer questions without human intervention, according to a report... [ABSTRACT FROM AUTHOR]

(Bloomberg) -- India's central bank is weighing opening a new credit facility for banks aimed at boosting their lending to mutual funds, which have been hit by a flood of redemptions, according to people with knowledge of the matter. The RBI, finance ministry and the Securities and Exchange Board of India, the nation's markets regulator, did not immediately respond to emails and phone calls seeking comment. [Extracted from the article]

RBL Bank, a bank in India, partnered with Innoviti Technologies Pvt. Ltd., to create an omnichannel payments platform called Omnium for merchants. [ABSTRACT FROM AUTHOR]

Indian regulators are cracking down on potential fraud in the financial sector, with Paytm being the first target. The Reserve Bank of India (RBI) has suspended most activities of Paytm's banking affiliate due to lapses in customer verification. This crackdown reflects growing impatience from authorities, and more penalties and stricter measures are expected. The RBI has been concerned about lapses in customer verification, as fraud cases have been on the rise. The central bank has imposed fines and is getting stricter on Know-Your-Customer (KYC) compliance. [Extracted from the article]

The article presents views of Murari Sridharan, chief technology officer (CTO) of Bankbazaar.com regarding cybersecurity of information technology servers, card security and automated teller machines (ATMs). Topics discussed include rapid changes in technology with innovations such as digital wallets, paperless procedures and peer-to-peer lending, mobile technology in financial technology and Indian banks will adopt new technologies like Aadhaar online authentication and India stack services.

The article discusses the Non-Performing Asset (NPA in the Indian public sector banks and the bank frauds initiated by the billionaire businessmen like Vijay Mallya and Nirav Modi in terms of availing huge bank loans and not paying. It talks about the strategy of recapitalization and the plans of liquidity infusion into the banks. It discusses the ways to come out from the loads of bad debts.

The article reports that stories began to appear in the international media suggesting that India was "stealing" jobs from wealthy nations, not industrial jobs, like those that had migrated to south-east Asia, but the white-collar jobs of well-educated people. India is now the back office of many banks, a magnet for labour-intensive, often tedious programming, and the customer services voice of everything from British Airways to Microsoft. Over the past five years alone, more than 100 IT and science-based firms have located R&D labs in India. These are not drudge jobs : high-tech companies are coming to India to find innovators whose ideas will take the world by storm. Their recruits are young graduates, straight from India's universities and elite technology institutes, or expats who are streaming back because they see India as the place to be, better than Europe and the U.S.

For example, in 2018 NRZ entered into an interim arrangement with South Africa's railways operator, Transnet, to lease 13 locomotives, 34 passenger coaches and 200 wagons from Transnet. The National Railways of Zimbabwe (NRZ) is set to improve its operational capacity by 2,5 million tonnes annually once it starts receiving 315 wagons and nine locomotives under the US$81,2 million deal the Government and India signed recently. [Extracted from the article]

The head of treasury at State Bank of India says easing global and domestic inflation has given the central bank scope to cut the benchmark repurchase rate by 50 basis points. "I expect the new 10-year benchmark to trade around 6.30 percent - 6.20 percent levels by September, and then to drop further toward 6.10 percent if there's a more than 25 basis points cut, which is likely", wrote Mumbai-based Nageswar, who in April said the 10-year yield may rise to as high as 7.10 percent by September. The yield on the 6.79 percent sovereign notes due May 2027 rose two basis points to 6.49 percent in Mumbai on Wednesday, down 24 basis points from the security's first trading day in mid-May. [Extracted from the article]

The article reports on the developments regarding the implementation of the government's Financial Inclusion Plan (FIP) in India as of 2014. The Reserve Bank of India's report and state-level bankers' committees mentioned signs of improvement in the implementation process, particularly among low income and disadvantaged rural population. Also noted is the failure of the government to consider the challenges in adopting a technology-driven model for the FIP.

The weighted average call rate, which the Reserve Bank of India closely monitors, has held above the policy rate for most of the past month and even breached the emergency funding rate of 6.75% on some days. (Bloomberg) -- India's shorter-maturity bonds rallied and money market rates eased on bets that a withdrawal of the nation's highest value currency note would leave banks with surplus cash to invest. [Extracted from the article]

Banks' holdings of fixed-income assets already exceed regulatory requirements and market expectations of the RBI injecting liquidity via open market purchases in the fiscal second half will fade, it said in a note. (Bloomberg) -- India's flagging bond rally may get a new lease of life as a withdrawal of the nation's highest value currency note leaves banks with surplus cash to invest. [Extracted from the article]

The banks will have the flexibility of settling their transactions with non-residents and with each other in foreign currency or in rupees while transactions with residents will be mandatorily settled in rupees, the RBI said. Non-deliverable forwards, or NDFs, are derivatives that allow investors hedge exposure to illiquid currencies by agreeing to settle the difference between contract prices and spot rates. (Bloomberg) -- India announced steps to deepen its foreign exchange market by allowing local residents trade currency derivatives contracts popular in the offshore market, according to the central bank. [Extracted from the article]

Non-deliverable forwards, or NDFs, are derivatives that allow investors hedge exposure to illiquid currencies by agreeing to settle the difference between contract prices and spot rates. (Bloomberg) -- India announced steps to deepen its foreign exchange market by allowing local residents trade currency derivatives contracts popular in the offshore market, according to the central bank. [Extracted from the article]

The issuance of green bonds will be announced in the second half of the fiscal year, while no floating-rate bond sales are planned in the first half. (Bloomberg) -- India announced the fiscal first-half borrowing plan largely in line with previous years amid a global banking crisis that has driven bond yields lower on safe haven trades. [Extracted from the article]

Information on the FIBAC 2013, an annual premiere banking conference organized by Federation of Indian Chambers of Commerce and Industry (FICCI) and Indian Banks' Association (IBA), held in Mumbai, India from August 13-14, 2013 is presented. It features the inaugural speech of governor Duvvuri Subbarao of Reserve Bank of India (RBI) on banking reforms in the country. Topics include the restructure of monopolistic power, local area banks (LABs), and differential licensing.

The article presents the views of R. Gandhi, Deputy Governor of the Reserve Bank of India (RBI), regarding the need of taking the preventive measures for the cyber security at the banking industry and need to control the information dissemination.

The article reports on the plan of India's ICICI Bank to launch the first international bond of the year from non-Japan Asia. The deal could could reach $1 billion, which would make it the largest offshore issue from an Indian bank. ICICI, the nation's largest private bank, announced a multi-tranche issue to be led by Citigroup, Deutsche Bank and Merrill Lynch. The choice of a further five year tranche surprised some bankers away from the deal.

The article reports on economic implications on the stressed assets in the Indian banking system, especially the market share of public sector banks.

The article discusses the highlights of India's union budget for fiscal year (FY) 2016-2017. Topics covered include the proposals of India's Finance Minister Arun Jaitley to keep the fiscal deficit under control and promote the bond market, details relating to the reported increase in non-performing assets (NPA) in public sector banks in India, and the government's proposals for increasing investments in India. It also discusses the government's plans for improving rural economy.

The article offers ways in dealing with the non-performing assets (NPAs) of banks in India, including the need to have a detailed scrutiny and appraisal of client profile, early identification of stress in bank accounts, and implementation of strict actions to address defaults effectively.

Reports on the impact of the outsourcing of call centers and customer service jobs to India on two large residential servicers in the U.S. Relocation of call center jobs by commercial banks to India; Estimation on the operation cost of outsourcing jobs; Benefits of the move for the mortgage firms.