Ss Mundra

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SEBI approves SS Mundra's appointment as BSE Chairman

The former Deputy Governor of RBI will replace Justice Vikramajit Sen in the position.

BSE appoints SS Mundra as Chairman

SS Mundra retired as Deputy Governor of Reserve Bank of India on 30th July 2017 after completing a stint of three years. Prior to that, the last position held by him was as Chairman and Managing Director of Bank of Baroda from where he superannuated in July 2014.

With multiple bidders for stressed assets, pricing to get competitive: SS Mundra

In an interview with CNBC-TV18’s Prashant Nair, SS Mundra, Former Deputy Governor of Reserve Bank of India (RBI) shared his readings and views on public sector undertaking (PSU) bank recapitalisation, stressed assets etc. He was speaking from the side-lines of the 2 day Ambit India Access Conference underway in Singapore.

Hopes of money not returning to banks post demonetisation unmet: S S Mundra

"Earlier, there was an expectation that a good portion of the money might not come back into the system owing to demonetisation. But that has not happened," Mundra, who retired from RBI in July 2017, told reporters on the sidelines of Bengal Chamber of Commerce and Industry's annual general meeting here.

Ind-AS migration to raise banks' capital need by 30%: SS Mundra

Banks will have to comply with the Indian Accounting Standards (Ind-AS) for financial statements for accounting periods beginning from April 2018.

RBI deputy S S Mundra says state-run lenders may need more capital

Mundra, addressing reporters in the sidelines of a banking event in New Delhi, also said there was no specific timeline set by the central bank to identify additional loan defaulters on which bankers would need to start bankruptcy proceedings.

RBI invites applications for Deputy Governor, may hire from pvt sector for 1st time

Currently, the RBI has four Deputy Governors, two of them are internal appointees. The third DG is typically a career public sector banker while the fourth is an economist who will handle the monetary policy.

RBI does not target any range for rupee: Deputy Governor Mundra

As the rupee touched a 17-month high against the US dollar, Deputy Governor S S Mundra today said the Reserve Bank does not target any range for the domestic currency and intervenes only to curb volatility.

Vinod Rai writes to FM, PMO on bad loans, suggests roadmap

Expressing concerns over mounting bad loans, Banks Board Bureau (BBB) Chief Vinod Rai has written to Finance Minister Arun Jaitley and Prime Minister's Office underlining the tardy progress made by state-owned lenders in resolving the issue of Non Performing Assets.

Adopt tech and be agile, else become history: Mundra to banks

"The age of fintechs is here and for the incumbent banks there is no time to lose. Banks that do not quickly convert in to a new-age digital banks run the risk of becoming history," Mundra said here while addressing the NAMCABS Seminar on MSME financing organised by the central bank-run College of Agricultural Banking.

Mundra asks bankers to report loan frauds quickly in their own

In the remarks made during a closed door bankers' event on Monday and published late this evening, Mundra said delay in reporting of a fraud can have "far-reaching implications on the employee conduct and internal governance standards".

Prem Watsa meets RBI guv to buy out Catholic Syrian Bank: Srcs

Three people aware of this development told Mint that the Prem Watsa met RBI governor Urjit Patel and deputy governor SS Mundra and RS Gandhi on Friday.

'Banks have provided for more bad loans than RBI estimated'

The RBI deputy governor said recapitalisation bonds may be one of several ideas on the table, adding that the very first transition of a nationalised bank into a public bank was done using recapitalisation bonds.

PSU banks install nearly 14,000 ATMs in FY16, miss target

A total of 13,935 cash dispensing machines were installed by banks in the year ending March 31, 2016 against the target of 15,249 ATMs, according to the data on progress of installation of ATMs by 27 public sector banks.

Mundra wants banks to take provision coverage ratio to 70%

"Banks should not slow down their clean-up exercise which they are doing now. Even if the required classification and provision happens, I'd strongly urge them to continue to keep aside money, keep on improving their PCR till it reaches a strong level," SS Mundra said at a seminar here.

RBI pores over Budget, worries on fiscal math

Finance Minister Arun Jaitley increased spending on farm and social sectors in the 2016-17 fiscal year on Monday in a boost to rural India, where most of the country's 1.3 billion people live.

India's 2016 Budget 'balanced', 'pragmatic': RBI deputy

Mundra's reaction, during an interaction with reporters on Tuesday, marks the first public comment from a senior RBI official on the budget.

IFRS will fundamentally change provisioning method: SS Mundra

Deputy Governor Mundra tells CNBC-TV18's Ritu Singh that a shift from an incurred loss to an expected loss means that provisioning will have to rise.

India Inc's unsustainable debts a serious concern: Mundra

Some of the corporates have raised unsustainable amount of debt from various sources, including banks and overseas financial institutions, without showing any regard to domestic and global demand situation, RBI Deputy Governor S S Mundra said today.

RBI says bank mergers have to be focused and strategic

SS Mundra, speaking at a business school in Mumbai, warned that merging a weak bank with a strong bank might weaken the stronger lender.

Looking into debt-for-equity swap provision for lenders:RBI

Strategic Debt Restructuring (SDR) aims to allow banks to take majority ownership of troubled firms and look for new owners. It allows banks to classify the debt in question as "standard", rather than bad, during the 18 month process.

RBI to provide more bank licences, says Mundra

IDFC and Bandhan Financial Services emerged successful out of 25 contenders for universal bank licences issued by the RBI in April last year. These entities have already started their operations.

Fear banking system is being used to launder money: Mundra

Reserve Bank of India (RBI) deputy governor SS Mundra says the Indian banking sector is in need of a centralised surveillance system to detect fraud cases.

Mundra frowns at rising corporate leverages

It could be noted that the Financial Stability Report released by the RBI in June this year had also issued a red flag against rising corporate leverage.