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  • Hopes of money not returning to banks post demonetisation unmet: S S Mundra Sep 12, 2017 03:59 PM IST

    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 Jun 23, 2017 09:52 PM IST

    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 Jun 16, 2017 12:41 PM IST

    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 May 25, 2017 10:29 AM IST

    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 Mar 27, 2017 10:20 PM IST

    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 Mar 19, 2017 11:50 AM IST

    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 Feb 21, 2017 07:40 AM IST

    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 Feb 01, 2017 10:12 PM IST

    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 Nov 28, 2016 08:46 AM IST

    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.

  • PSU banks install nearly 14,000 ATMs in FY16, miss target May 30, 2016 08:14 AM IST

    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% May 20, 2016 10:00 PM IST

    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 Mar 03, 2016 02:18 PM IST

    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 Mar 01, 2016 06:07 PM IST

    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.

  • India Inc's unsustainable debts a serious concern: Mundra Jan 29, 2016 07:05 PM IST

    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 Dec 14, 2015 12:06 PM IST

    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 Dec 08, 2015 12:05 PM IST

    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 Oct 19, 2015 08:45 PM IST

    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.

  • Mundra frowns at rising corporate leverages Sep 23, 2015 08:00 PM IST

    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.

  • SS Mundra says corporate leverage levels a 'major concern' Sep 23, 2015 11:38 AM IST

    SS Mundra says corporate leverage levels a 'major concern'

    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.

  • Economy can withstand China ripple effects, says SS Mundra Aug 25, 2015 05:52 PM IST

    Economy can withstand China ripple effects, says SS Mundra

    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.

  • Bank results indicating asset quality stability: SS Mundra Jul 29, 2015 03:43 PM IST

    Bank results indicating asset quality stability: SS Mundra

    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.

  • RBI prescibes uniform provisioning norm for fraud cases Apr 02, 2015 01:56 PM IST

    RBI prescibes uniform provisioning norm for fraud cases

    RBI has finalised a structure of Central Fraud Registry and will soon come up with guidelines to enable quick sharing of information about unscrupulous borrowers and help banks fight bad loans. Presently, banks are advertising the list of wilful defaulters on their website and newspapers individually.

  • Talking to govt on hiking gold import curbs: RBI deputy guv Nov 17, 2014 04:01 PM IST

    Talking to govt on hiking gold import curbs: RBI deputy guv

    October shipments to India, the world's No.2 gold consumer behind China, jumped to about 150 tonnes from less than 25 tonnes a year earlier and 143 tonnes in September, a finance ministry official said last week.

  • Final norms for payment banks next month: RBI Oct 12, 2014 02:05 PM IST

    Final norms for payment banks next month: RBI

    Reserve Bank of India's (RBI) Deputy Governor SS Mundra has said that the central bank plans to announce the final norms on small and payments banks next month.

  • Govt orders forensic audit on OBC, Dena Bk for Rs436cr scam Aug 20, 2014 05:50 PM IST

    Govt orders forensic audit on OBC, Dena Bk for Rs436cr scam

    "A forensic audit has already been ordered," Financial Services secretary GS Sandhu told reporters here today, when asked about the alleged scam, adding some suspensions have been initiated by the authorities in this regard.

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