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.
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.
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.
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.
In an interview to CNBC-TV18, Deputy Governor of RBI, SS Mundra said that the overdraft as it is envisaged in Jan Dhan has a upper limit up to Rs 5000 depending on the credit history etc.
RBI deputy governor SS Mundra defends the scheme as a great start and says the government's direct benefit transfers will see more accounts getting used.
Speaking at Axis Capital: India 2020 Stars -- Mundra recounts some current and emerging stance in the regulatory and supervisory landscape for the Indian banking and financial sector.
SS Mundra, CMD, Bank of Baroda says out of the total slippages the highest slippage was probably something like Rs 132 crore in the third quarter.
He was expecting a pause in the repo rate and some action on the CRR front in the RBI‘s monetary policy.
SS Mundra, Chairman, Bank of Baroda expects slippages to go down even in the next quarter and then the period of more or less normal slippages will come.
According to SS Mundra, the RBI's move to inject more liquidity into the system by cutting the MSF rates does not indicate a long-term change its policy plan given the high inflation and the repo rate hike.
In an interview to CNBC-TV18, SS Mundra, Chairman, Bank of Baroda and Arun Kaul, Chairman, UCO Bank spoke about impact of RBI relief on MTM losses.
After RBI tightened liquidity and pushed up short-term rates in mid-July most of the brokerages have downgraded India's FY14 GDP forecast, due to which the Bank Nifty which is the closest proxy of the economy on the stock markets has fallen 17 percent since mid-July.
Shares of Bank of Baroda came under pressure on Thursday, after the PSU reported a sharp rise in bad loans in the first quarter ending June. Speaking to CNBC-TV18 CMD SS Mundra says Q1 saw fresh slippages at Rs 1,846 crore and a restructuring pipeline of around Rs 2,000 crore.
In an interview to CNBC-TV18, SS Mundra, Chairman of Bank of Baroda spoke about the RBI's guidance and measures to curb the volatility in rupee. The banks will be affected by the measure in the short-run. But fundamentally, it will not change much in the long run, he adds.
Bank of Baroda will take a good look at assess cost of fund, and if there is a softening in the cost of deposits, then the bank will relook at base rates
Hemant Contractor of SBI says there is no scope for reduction in deposit rates due to the stickiness caused by the fact that you have the floor set with the government saving schemes and our deposit rates are quite low
SS Mundra, Chairman of Bank of Baroda said that their home loans are at single common interest rate of 10.25 percent.
Bank of Baroda will refocus growth in 2013-14. In the last few quarters, it concentrated on credit quality. The lender plans to grow its loans and deposits by 2 - 4 percent higher than the industry average in FY14.
In an interview to CNBC-TV18, Abheek Baruah, HDFC Bank, Moses Harding, IndusInd Bank & SS Mundra, ED, Union Bank speak about their expectations from the central bank.
In an interview to CNBC-TV18, SS Mundra, executive director, Union Bank explains how they have managed to keep their net interest margins at around 3%.