RBI on Tuesday said Anand Sinha will continue as the deputy governor until January 18, 2014. Sinha will continue to look after departments of banking operations and development, non-banking supervision and urban banks, the Reserve Bank of India said in a statement. He will also look after departments of risk monitoring, IT, expenditure and budgetary control.
FM meets Subbarao ahead of Budget
Ahead of the Budget, finance minister P Chidambaram held consultations with RBI governor Duvvuri Subbarao here. The minister held a meeting with RBI governor, said a source, without disclosing the details of the deliberations.
'Pvt banks detect most fake notes'
Private banks operating in the country have detected and processed the maximum number of counterfeit currency instances in banking channels surpassing both public sector and foreign banks by a huge margin, an official report of the finance ministry has said. All the banks and similar financial intermediaries are mandated to detect and send across such instances to the Financial Intelligence Unit.
RBI, Nabard examine farm scheme errors
Amid CAG pointing errors in implementation of the farm debt-waiver scheme, government said on Tuesday, RBI and Nabard are examining the case and action will be taken against banks found involved in irregularities and the ineligible beneficiaries. Finance minister P Chidambaram said CAG report on the debt waiver has been submitted and a day would fixed for its tabling.
'Over 60,000 ATMs in rural areas in 2 yrs'
Public sector banks plan to open more than 60,000 ATMs in rural areas in next two years, said minister of state for finance Namo Narain Meena on Tuesday. Replying during Question Hour, Meena, said: There is shortage of ATMs and effort is being made to provide as many ATMs as possible in rural areas.