Ad Here  
March
April
May
June
July
August
 
 
Financial inclusion vs unclaimed deposits The paradox: clamour for the Goliath and David Growing volume of stressed assets… Rationalised Governance in Reverse Gear? Emerging crisis How okay are new banks? Good, bad and ugly Why priority status? Bottomlines shrink, bad loans rise... Anytime banking to anywhere banking What is the priority – mergers or NPA reduction? Reaching the Unreached… It’s a war on black money, support it. Needed a Banking Atlas All that glitters is not gold... Thirty more cities seek to become SMART Just 660 days! Target over-ambitious... Cradle of banks to a smart city... Ernakulam excels... New bank licences, at last... Insatiable appetite for credit LVB- A supermarket of financial services Small finance banks offer high interest rates Perhaps small is more beautiful than big! One down in private sector Growing gainfully United India Insurance - Rs 110 crore losses have been claimed till now due to floods in Tamil Nadu Targets continue to be ad hoc Small is ‘more’ beautiful Lacklustre credit expansion Reaching out: is it slowing down? Managing NPAs... From lazy banking to easy banking Greet Lakshmi the banking robot A bank for women, by women Another route for achieving financial inclusion Aadhaar, niraadhaar and banking Merger mania haunts banks The collaboration suite of cyber criminals Nothing much can happen…. Two banks: their jubilees and performances Who is the real beneficiary? Why any time money? Capital base of regional rural banks raised Holy or unholy? Banking on Risk Stage set for Indian ‘avatar’ of foreign banks Ferrying digital banking to Lakshadweep Smart banking in smart cities Cut in repo rate – lower than expected Banking overhauling or reorganisation? Too big to fail and too small to sail Drop in SLR- sparing lendable resources Hesitancy in announcing year-end results How ‘secure’ are the secured loans? Grows Bigger Drastic decline in asset quality New capitals of Migrant banks A development bank for BRICS Indian customers are tech savvy Bank deposits account for 46.3 per cent of household savings Mega merger is on Payment banks have arrived Well-lived... Big bank merger, bigger expectations Banking in Telangana Small finance payment banks... Monetary policy continues to adopt dis-inflationary path Fund healthcare clinics in villages... A new development bank rising in the east… Cautious and considerate
 
A development bank for BRICS
Though the idea of forming a separate developmental bank for BRICS countries (Brazil, Russia, India, China and South Africa) was mooted five years ago, it materialised only this July.

The leaders of these five countries met in Brazil and signed an agreement to establish New Deve-lopment Bank, with a subscribed capital of $ 50 billion, equally shared by the five nations. China was able to bargain for the location of the head quarters of the new bank in Shanghai while India got the chairmanship of the Bank for the first six years. The establishment of this bank could change the landscape of international finance, curtailing the domination of the World Bank and IMF. The new bank represents the silently growing influence of BRICS countries, which account for 50 per cent of the world’s population and 20 per cent of global GDP.

At present Indian banks have very little presence in these countries. In Brazil, State Bank of India (SBI) has only a Rep. Office. In Russia, SBI, jointly with Canara Bank, has a fully owned subsidiary bank, besides a fully owned subsidiary of ICICI Bank. In China, SBI has two branches; Bank of Baroda and Bank of India have one each. There is also a branch of Axis Bank Ltd. In South Africa, there are four branches; Bank of Baroda having two and SBI and Bank of India having one each. Consi-dering the size of these countries, the presence of Indian banks is insignificant. As far as the reciprocal situation is concerned, banks from China and Russia alone have entered the Indian banking space. It is necessary that Indian banks formulate a branch expansion programme in these countries in the next couple of years.

The new development bank is expected to play a crucial role in financing the infrastructure projects in the BRICS countries. The power and transport sectors need long-term money. With the support of this bank the member countries could achieve higher rates of economic development.

Author :
Reported On :
Sector :
Shoulder :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com