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Nov 14, 2017 04:06 PM IST 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.
Sep 12, 2017 03:59 PM IST "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.
Jun 23, 2017 09:52 PM IST Banks will have to comply with the Indian Accounting Standards (Ind-AS) for financial statements for accounting periods beginning from April 2018.
Jun 16, 2017 12:41 PM IST 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.
May 25, 2017 10:29 AM IST 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.
Mar 27, 2017 10:20 PM IST 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.
Mar 19, 2017 11:50 AM IST 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.
Feb 21, 2017 07:40 AM IST "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.
Feb 01, 2017 10:12 PM IST 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".
Nov 28, 2016 08:46 AM IST 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.
Jun 23, 2016 02:05 PM IST 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.
May 30, 2016 08:14 AM IST 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.
May 20, 2016 10:00 PM IST "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.
Mar 03, 2016 02:18 PM IST 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.
Mar 01, 2016 06:07 PM IST Mundra's reaction, during an interaction with reporters on Tuesday, marks the first public comment from a senior RBI official on the budget.
Feb 05, 2016 05:22 PM IST 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.
Jan 29, 2016 07:05 PM IST 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.
Dec 14, 2015 12:06 PM IST SS Mundra, speaking at a business school in Mumbai, warned that merging a weak bank with a strong bank might weaken the stronger lender.
Dec 08, 2015 12:05 PM IST 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.
Oct 19, 2015 08:45 PM IST 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.
Oct 12, 2015 03:44 PM IST 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.
Sep 23, 2015 08:00 PM IST 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.
Sep 23, 2015 11:38 AM IST SS Mundra added leverage levels had risen "very substantially in the last few years in the corporate world", calling it a concern that was also felt globally, at an event in Mumbai for chief financial officers.
Aug 25, 2015 05:52 PM IST Addressing the same event yesterday, and amid the bloodbath in stock and currency markets, Reserve Bank Governor Raghuram Rajan said the country has strong macroeconomic fundamentals and sufficient forex reserves to contain volatility while he also hinted at a rate cut if inflation remains low.
Jul 29, 2015 03:43 PM IST It can be noted that the sluggishness in the economy, coupled with regulatory and judicial actions, has resulted in increased instances of loan losses for banks, with sectors like power, shipping, iron and steel, aviation and infrastructure being badly affected.
