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COVER STORY
The Future of Global Banking
-- Katuri Nageswara Rao
Banking is in for exciting times globally. There are issues like the desirability of supporting small banks, management of operational risk, efficient governance of technology, etc. Banks need to draw the right lessons from the subprime fiasco and they may have to face challenges of the global imbalances. Banks will have to follow equator principles in project finance. They may have a business opportunity in `Carbon Financing'.
© 2008 IUP . All Rights Reserved
SOCIAL BANKING
Financial Inclusion : Need for No-Frills Account
-- Manoj Kumar Joshi
The main reasons for non-inclusion of the major segment of Indian population in the formal banking channel are their weak financial position, employment in the unorganized sector, seasonal employment and the daily wages that they earn. The initiative of the RBI to introduce the no-frills account, a savings bank account with minimum procedural formalities, will go a long way in making available the banking and insurance products to the financially-disadvantaged sections.
© 2008 IUP . All Rights Reserved
SCENARIO
Banker and the Entrepreneur
-- R Vijayaraghavan
There has been a special thrust on the Small and Medium Enterprise (SME) sector and retail segments for extending credit on a large scale by the banks. The article covers the steps followed by the banks in the appraisal of an entrepreneur.
© 2008 IUP . All Rights Reserved
SCENARIO
Future of Indian Cooperatives
-- Anand M
The cooperative societies, which have been established to free the farmers and other rural folks from the clutches of moneylenders and rid them of indebtedness, face many challenges even after a century. Fund crunch and political interference are the major impediments in their functioning. The article highlights the various problems faced by the cooperatives and also suggests some remedies to overcome the same.
© 2008 IUP . All Rights Reserved
RISK MANAGEMENT
Société Générale : Double Whammy
-- Satish D
Société Générale, a European financial services firm, which is dealing with the aftermath of the subprime meltdown, also has to contend with the massive fraud alleged to have committed by a single rogue trader.
© 2008 IUP . All Rights Reserved
RISK MANAGEMENT
Indian Banks and Basel II Norms
-- Dr. S Mercia Selva Malar and Ravi Shankar Vaddy
The Basel I and II recommendations of the Bank of International Settlements (BIS) have been framed with the purpose of ensuring sufficient capitalization of banks' assets and lessen the credit and operational risks faced by the banks.While the Basel I norms dealt only with credit risk, Basel II norms cover all types of risks faced by a bank such as interest rate risk, foreign exchange risk, operational risk, etc. The issues of Basel II are multiple and vary from country to country depending on the banking environment of each country.
© 2008 IUP . All Rights Reserved
RISK MANAGEMENT
Subprime Mortgage Crisis in the US : Lessons to be Learnt
-- P Sreelakshmi
The recent US subprime crisis has lessons for other nations of the world. There are issues like central banks looking beyond monetary policy to manage a possible credit crunch. Financial institutions may face greater financial risks than expected. The central banks play a key role in tracking inflated or misleading data.
© 2008 IUP . All Rights Reserved
RURAL BANKING
Changing Face of Rural Banking : Banking in Unbanked Areas
-- Srujana Vari
Today, the rural development is an important issue. The banks are playing a key role in the same. This article emphasizes the concept of financial inclusion and some of the latest innovations in the rural banking. And it also throws light on globe-wide innovations and Self-Help Groups (SHGs) in India. It discusses the recommendations made by the C Rangarajan Committee on the financial inclusion and SHG-Bank Linkage Program.
© 2008 IUP . All Rights Reserved
PRODUCTS
Small and Medium Enterprises Need Innovative Financing Model
-- S N Ghosal
The Small and Medium Enterprises (SMEs) sector requires substantial financial support for its growth. This sector has the potential to generate employment and boost exports. An in-depth study of SMEs will reveal that the most effective model for giving them a boost is by creating a private-public partnership between the entrepreneurs and the funding and guaranteeing agencies, so that the talented technocrats get an opportunity to have a full view of market cycle. In the process, they will also learn about the process of marketing strategy in order to withstand all types of risks.
© 2008 IUP . All Rights Reserved
MICROFINANCE
Microfinance : Modern Initiative to Promote Social Welfare
-- Vasudha Vasakarla
Apart from self-help groups and non-governmental organizations, the government should strongly intervene in promoting microfinance for social welfare. Financial and corporate houses should also treat microfinance as a social responsibility and should contribute at least a percentage of their profits for this moral cause.
© 2008 IUP . All Rights Reserved
REGULATION
Central Banks - The Agents of Economic Growth : Introduction, Evolution and Roles
-- Ravi Kumar Jain and A K Sohani
The role of central banks as agents of economic growth, masters of financial systems and the custodians of nations' financial well-being has been brought to the fore in the last couple of decades, especially in the wake of globalization and subsequent spurt of global economic activities. This article focuses on the concept of central banking. It discusses the need for, importance and role of a central bank of any country.
© 2008 IUP . All Rights Reserved
REGULATION
Third Quarter Review of Monetary Policy for 2007-08 : An Analysis
--Manoranjan Sharma
The overall stance of monetary policy in the period ahead will broadly continue to emphasize on price stability and well-anchored inflation expectations. It will also ensure a monetary and interest rate environment conducive to continuation of the growth momentum and orderly conditions in the financial markets.
© 2008 IUP . All Rights Reserved
REGULATION
Challenges for Central Banking in Emerging Market Economies
-- Dr. Ashish Srivastava and Nitu Saxena
Central banks in EMEs face a tough task in striking a judicious balance between domestic monetary management and international contagion or so-called "re-coupling". These regulators are concerned with financial stability, supervisory efficiency and development of strong risk-management architecture.
© 2008 IUP . All Rights Reserved
STRATEGY
Managing Forex Reserves : A Real Task for Asian Nations
-- Krishna Priya
Forex reserves are rising in many Asian nations creating the problem of plenty. Asian nations need to think of innovative plans to save themselves from the imminent fall of the dollar value and the erosion of their reserves.
© 2008 IUP . All Rights Reserved
CASE STUDY
Technology in Banks : A Case Study of HDFC Bank
-- V S Daddihal and P K Kulkarni
Banking in India has transformed into a strong and sound system as a result of supportive measures undertaken by the Indian Government and the Reserve Bank of India. It has become a market-driven system. Information technology and electronic fund transfer have emerged as the new pillars of modern banking. Thrust on greater use of technology and upgrading skills and knowledge of bank personnel to meet changing expectations of customers are the keys for business growth. Banks have to meet the needs of the customers using technology. Internet will be the engine of banking revolution in the decades to come and e-commerce its fuel.
© 2008 IUP . All Rights Reserved
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