S.s. Mundra

Speaking at a webinar organised by Bengal Chamber, Mundra said that the idea that ownership changes the behaviour of an entities are not proper.

FinMin receives 37 applications for RBI DG post

About 37 fresh applications were received and shortlisting of applications is being done, sources said.

S S Mundra retires; NS Vishwanathan to head supervisory departments at RBI

Vishwanathan will be in-charge of the department of banking supervision, the department of non-banking supervision and the department of cooperative banking supervision, which were earlier handled by Mundra, the central bank said.

Interview for RBI deputy governor post on July 29

The Financial Sector Regulatory Appointment Search Committee (FSRASC) has shortlisted about 10 names who have been called for interview on July 29, sources said.

Govt actively working towards bank consolidation: Jaitley

The meeting of top bankers with the finance minister, where ministry officials and RBI Deputy Governor S S Mundra were present, was called to take stock of lenders' financial position and speedy resolution of bad assets.

Some banks use service charges to drive away customers: S S Mundra

"While banks have been granted autonomy in fixing minimum average balance or charging for premier services, it should not be used as an excuse to deny or drive away services to the common man. This is what we are at tend to observe in some of the institutions...it is moving in that direction," Deputy Governor S S Mundra said.

Farm loan waivers should be case-specific, says RBI Deputy Governor

The RBI has recommended case-specific waivers as the demand for farm loan waiver extends to other states after Uttar Pradesh's new CM offered to fulfill his electoral promise.

Why banks are still underprepared to tackle cyber fraud

Cyber security has become a hot-button topic particularly after demonetisation gave a huge filip to digital payments. However, banks have still not put in adequate security measures to prevent cyber fraud.

RBI's Mundra asks bankers to report loan frauds swiftly

Calling for a proactive approach to reporting of loan frauds, Reserve Bank Deputy Governor S S Mundra has said up to four years of "NPA seasoning" has been observed in reporting of such cases, which exposes bankers to the risk of being charged with "abetting" the offence.

I will give my best, says Viral Acharya

RBI's newly appointed Deputy Governor Viral Acharya, a noted economist, today said he will give his best in the new role.

RBI's new Dy Guv Acharya to take charge on Jan 20

Viral V Acharya will assume charge as Deputy Governor of the Reserve Bank of India on January 20, 2017.

82,500 ATMs recalibrated to dispense new notes

As many as 82,500 ATMs, which account for about 40 per cent of cash vending machines in the country, have been recalibrated to dispense new high security currency notes of 500 and 2,000 rupees.

RBI to have more banking ombudsman offices this year

"We are opening a few new offices of banking ombudsmen during the year," deputy governor S S Mundra told reporters at the customary interaction after monetary policy announcement this afternoon.

Cyber security supervision: RBI to soon cover all banks

"This year, the supervision coverage is being extended to over 30 banks and going forward we intend to cover every bank from an intent of information technology risk and cyber security risk," deputy governor S S Mundra told reporters after the fourth bi-monthly policy review.

Govt starts process of appointing new RBI Deputy Governor

The Reserve Bank has currently three Deputy Governors as against the requirement of four.

Need to examine high growth in farm credit, says Mundra

"If the land bank is the same, the area under irrigation has not changed significantly, if the fragmentation is continuously happening, then what accounts for the increase in lending?" he said at an event here.

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

The total credit dispensed by the non-bank entities has increased to 37.40 percent in these two years, which is twice the pace of the 19.22 percent growth reported by banks, he said.

S S Mundra downplays money deposit issue on zero-balance a/cs

"It's not a criminal act. What kind of inquiry?" Mundra told reporters on the sidelines of a BRICS workshop on financial inclusion, when asked specifically about the steps the RBI is taking after the allegations cropped up.

RBI reallocates deputy governor portfolios

Other divisions under Patel were also reassigned, with the department of communication assigned to Deputy Governor N.S. Vishwanathan, and the department of statistics and information management going to S.S. Mundra.

Gross NPAs of banks nearly double to 8.7% in Q1: S S Mundra

System-level stressed advances, which includes GNPAs and restructured standard advances during March 2016, were 11.4 percent, while they were 10.9 percent as of March 2015.

Framework for accreditation of credit counsellors on anvil: RBI

"For bridging the information asymmetry on the MSME borrowers side, the RBI is initiating a process for putting in place a framework for accreditation of credit counsellors who are expected to serve as facilitators and enablers for micro and small entrepreneurs," he said at an industry event.

Pace of new bad loan formation has decelerated: RBI

In a bid to shore up cash-strapped public sector banks, the government last month announced infusion of Rs 22,915 crore capital in 13 lenders including SBI and Indian Overseas Bank to revive loan growth that has hit a two-decade low.

Urjit Patel as new RBI head to ensure continuity: S S Mundra

"While Patel is new as a Governor, he's not new for RBI. Second thing is, in his present role as deputy governor RBI, he is incharge of monetary policy, which was already the centre-stage of inflation...interest rate-related activity or Monetary policy related activity," he said on the sideline of an event organised by CII here.

Need to raise farm sector's credit absorption capacity:SS Mundra

"In agriculture, there is a year-by-year increase in targets which are accepted and are being achieved. But I'd believe that there is a limit to it," he said at the annual Fibac conference here.

S S Mundra warns banks of stern action for mis-selling

"There is one area in customer service where we're getting deeply concerned. This is around mis-selling, particularly of third-party (insurance) products. Everyday, we keep on hearing numerous instances where such practices are going on," Mundra said at the annual Fibac bankers' summit here.