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Dear Senior Citizens, You are unwelcome at Banks..implies RBI

The RBI discussion paper on “Disincentivisation of issuance and use of cheques”  wants to impose penalties for using cheques in banking transactions as also for cash withdrawals and deposits. Instead it urges people to shift to Internet banking and ATMs. … Continue reading

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RBI set to rob Rs 10000 crores from Bank customers!

The discussion paper on Disincentivisation of cheques  issued by RBI envisages charging bank customer for every cheque book issued by the Bank, every cheque issued by the customer and every cheque deposited by the customer for clearing. This means that each … Continue reading

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“Banking is a Fundamental Right” says Dr Chakravarthy, Dy.Governor of RBI

Dr K.C. Chakravarthy, Deputy Governor of Reserve Bank of India speaking at Kochi on 9th February 2013 he stated that if the people in this country are not able to get access to basic banking services even after the regulatory … Continue reading

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Digital Divide threatens Indian Banking

The move from RBI to aggressively promote E Banking even in the light of repeated assertions that the E Banking risks are beyond tolerance levels and to actively discourage use of cheques and cash in Banking is likely to be … Continue reading

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RBI out to openly violate laws of banking

Section 5(b) of the Banking regulation act of India defines “Banking” as follows: “banking” means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdrawal by cheque, … Continue reading

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Is Indian Banking system hiding the risks?

The recent report of frauds in the Credit card system in India has given rise to a discussion on how safe is Indian Banking system and whether there is a systematic attempt to suppress threat information from public and give … Continue reading

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