Tag Archive for Bijoy Idicheriah

Has Rajan cut SLR via liquidity cover move?

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By T. Bijoy Idicheriah, Cogencis

In a simple move today, Reserve Bank of India Governor Raghuram Rajan gave banks the flexibility to tap their Statutory Liquidity Ratio holdings for liquidity to meet their Liquidity Coverage Ratio. By ensuring that such flexibility does not impact government borrowing plans, even when it helps banks migrate to LCR and also adhere to Basel III requirements, Rajan has hit many birds with one stone. From a liquidity standpoint, he has, in effect, cut SLR without really cutting it.

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Prime Minister’s financial inclusion plan – all about accounts not accountability

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By T. Bijoy Idicheriah, Cogencis

Sunita Samant, a maid in a Mumbai suburb, had a busy weekend with three banks courting her for opening savings bank accounts. She ended up opening three such accounts–two with state-owned banks and one with a large private sector bank–in addition to her existing account with another state-owned bank.Samant’s earlier account is in her maiden name, which makes her “unbanked” under her marital name. This makes her an easy target for banks rushing to meet their targets on financial inclusion envisioned under the Pradhan Mantri Jan Dhan Yojana. Her case is not an aberration. Her family with four adults now has 13 accounts, most of which were opened over the weekend.

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