[Economy] New Bank Licences

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4/19/2014 [Economy] New Bank Licences: Bandhan, IDFC, Bharatiya Mahila Bank; Differential Bank licences, Bimal Jalan Committee, Narsimhan Committee; ar…

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[Economy] New Bank Licences: You're here: Mrunal » Economy » Published 2 days ago Bandhan, IDFC, Bharatiya Mahila Bank; Differential Bank 28 Comments so far. licences, Bimal Jalan Committee, Narsimhan Committee; arguments favor against, Bank nationalization, Historic evolution of Banking sector in India

1.

Prologue

2.

Banking sector in British India

3.

Birth of RBI

4.

Banking sector Post Independence

5.

Narsimhan Committee I (1991)

6. R EC EN T C O M M EN T S

Bank licences: 1st Round (1993)

ASHOK SINGH { @amit :

7.

Narsimhan Committee II (1998)

i ll suggest u to contact any expert in this regard ..i have no info. about it @ manu : thanx } – [Interview]

8.

New Bank licences 2nd round (2001)

9.

New Bank licences 3rd Round (2013-14) 1.

Bandhan Microfinance and IDFC

http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-co…

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Central Police Forces

2.

In principle approval

Topper Ashok Singh...

3.

What is Differential licenses?

MANU { ashok sir is very

4.

New Private banks: Pro and Against

friendly n helpful.... } – [Interview] Central Police Forces Topper Ashok

arguments 10.

Bharatiya Mahila Bank (2013)

Singh...

PAULDOMINIK { u dont hav to send it.u have to bring it at the time of pet and they will collect it } – [CAPF] UPSC declares Written Result of Assistant...

MUKESH { @an eternal optimist i hope it helps man! } – [SSC] 2014's Tier-

1.

How is it a Mahila Bank?

2.

Business plan of Mahila Bank?

3.

Why Mahila Bank is mere publicity stunt?

Prologue important: SSC has uploaded halltickets for reexamintion of CGL2013 to be held on 27th April. Respective players check your regional SSC sites accordingly. now coming to the subject… Bandhan and IDFC got new licences, you already know that. it’s

1 postponed due to

just two line current affairs. but for SBI /UPSC interviews, we need

Election...

to some background information for questions like:

PANKAJ PRAJAPATI { thanks } – [Mains Answerkey] GS1-

1. After Sahara Scam and NSEL crisis, why should we risk giving bank licences to private companies? In fact why not simply

Geography-2013 (part 2/3):

nationalize the existing private sector banks so they cannot do

Cyclone naming,...

any scams!?

JUDE_LUCY { dig-boy1901-indian oil company(from assam oil company ltd.) refinery is in loss cuz of lack of raw material, i.e, production not sufficient. technologically, refinery is top... } – [Current] April-

2. We already have large banks such as SBI, ICICI, BoB- all of them having pan-India presence, capable of fulfilling the goal of financial inclusion, then why is there a need to get new private sector banks? To answer such “Devil’s advocate” type interview questions, we need to go back in history:

Banking sector in British India

Week1-P2: Environment, Polity, Culture: IPCC

There were two types of banks

Latest...

AMIT { my father n mother both r group c employee and their yearly gross salary is around 9 lakh... do i come in creamy layer??? } – [Interview]

British Banks

“Swadeshi” Banks

First, East India company establishes three Presidencies in India-

Parallel to British banks, Indian banks

Bombay, Bengal and

also setup- Allahabad Bank, Punjab

Central Police Forces

Madras

national bank (PNB), Bank of Baroda

Topper Ashok Singh...

Three Presidency banks

http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-co…

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AMIT { anyone from ranjit

setup in those cities. Later

nagar(new delhi)...need

merged into one Imperial

company for prepairing capf2013_pet... } –

(BoB), Canara bank etc.

bank (’21)=> SBI (’55)

[CAPF] UPSC declares Written Result of Assistant...

JUDE_LUCY { and it doesn't fades away like stickers of product i.d, windows key,logo etc. on your laptop fades. } – [Current] April-Week1-P1: Economy-Monetary Policy update,GI Tagging for...

Their target audience = British army, civil servants and judges

Target audience= big merchants, particularly raw-material exporters in Bombay and Madras Presidency.

Overall, neither British Banks nor Swadeshi banks helped in the financial inclusion of poor people, they still had to rely on local money lenders and Zamindars.

Birth of RBI

ANUPAMA SINGH {

By early 30s, there were >1200 banks in India!

asking about preference..... } – [IBPS]

But all of them under Companies law- there was no banking

finally Result of both Bank PO/MT...

PRAV { dude, i would like to correct your understanding of mfn status(*without sounding arrogant)....mfn status only helps in removing discrimination in tariffs of items which are... } – [Current] March-Week4-P2:

regulation, no RBI, no SLR, CRR, repo rate, reverse repo rate etc. So the Civil service & BankPO aspirants of that era, were relatively “Stress free” compared to present generation. Problem starts with Great American depression (’29) => sharemarket and companies of US and Europe collapse= raw material import declines = desi merchants cannot repay loan EMIs = Indians banks starts collapsing one by one. therefore, British Indian government setups Reserve bank of India to supervise over these banks (’34)

Banking sector Post Independence

Diplomacy, International relations- Sri Lanka...

TANUSHREE SACHHAR { is it sure that age is 32 and attempts is 6 for cse 2014,because upsc did not yet issue any notice } – Central Government approved Two extra Attempts for...

ANUPAMA SINGH { coaching fees was 2500/n my first preference was pnb....what was urs??? } – [IBPS] finally Result of both http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-co…

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Bank PO/MT...

PRANAV JOSHI { mrunal da what is hawala scam of 1991 and why name of momin qureshi is in news these days(hawala scandal in meat!!) } – [Economy] Current 2014 Feb Week 1: Fiscal...

VIPIN KUMAR CHOPRA { bhai ek taang me rod he, chal jayega kya ???? } – [CAPF] UPSC declares Written Result of Assistant... Older »

Click to Enlarge

from mid-50 onwards, there is gradual expansion of banking sector in India SBI, ICICI, PNB, BoB all start opening more and more branches. but still target audience= merchants, urban (upper) middle class and industrial houses Branches increased? YES Rural penetration? NO Did they help aid in Five year plans like giving cheap loans to farmers and micro-enterprises? NO All these banks were in the hands of industralists. (who owned majority shareholding => can vote majority of board of directors=> bank’s policy decision will only be made to suit those industrialists e.g. opening branches near factorytownships, giving loans @cheap rate for setting up new factories and so on….) Nationalization

Government gets impatient with ^all this. http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-co…

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starts nationalizing banks (By taking over the ownership from those industrialists) Year

How many?

who?

’55

1

Imperial bank (SBI)

’69

14

banks with >50 cr. deposits.

’80

6

banks with >200 cr. deposits (Andra, Vijaya, Oriental bank of commerce etc.)

Nationalization: more problems

1. In theory, nationalization =government becomes majority shareholding in those banks => government can pick board of director of her choice = bank takes decisions to suit government’s Five year plan requirements= everyone’s happy, right? nope 2. In reality, nationalization =created more problem than it solved. for example 3. Now all the board members = politicians, their relatives, retired IAS/IPS etc. Result? Professionalism =nope, sycophancy=yes. 4. Banks were forced to give loans @throwaway prices to farmers/ small enterprises, sometimes even cost of giving loan (staff salary, light bill, office rent etc.) would be higher than the profit involved. 5. Local politician interfered in operations. Run “loan mela” in our Constituency, open all branches in RaiBareily and Amethi only, pass applications of our chamcha-log. They would get lakhs of rupees @4% interest rate (to buy cattle) and then circulate the same money to farmers @36% interest rate and so on… 6. When banks tried to recover loan money from such political elements, t hey’d get stay order from courts, then “taarikh pe taarikh”. 7. This politicization even came into Bank employee unionsthey’d always demand higher wages and lower working hours, irrespective of how much profit bank made. 8. adding insult to injury, RBI kept the CRR and SLR very high (15 & 40% respectively) 9. =very less money left for banks to lend. http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-co…

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10. Business man cannot get easy loans = no business expansion =export declines =in a way all this contributed to the Balance of Payment crisis (BoP) in 1991. moral of the story = nationalization is not a solution – even if Sahara, NSEL, Ramalinga Raju, Ketan Parekh, Harshad Mehta or Mr.XYZ is doing scam- that doesn’t mean you should nationalize everything.

Narsimhan Committee I (1991) By government of India in 1991. It recommended following: recommendation

result?

Government / RBI mustnot regulate the banks’ loan interest rates.

RBI adopts BENCHMARK PRIME

Banks should be allowed to decide LENDING RATE (BPLR) => nowadays their home loan, bike loan etc rates Base rate system. by themselves. setup Debt recovery tribunals. so loan defaulters cannot get stay orders from courts, no more “Taarikh pe taarikh”

DRT setup in 1993 => later SARFAESI Act in 2002 to give them more powers. done. banks can open branches

Liberate Branch expansion policy.

anywhere. only condition 25% of the

Let the banks open branches

new branches each year must be

outside Raibarely and Amethi also. setup in rural areas. For more read Nachiket Committee article. Reduce CRR and SLR so banks

Done, gradually reduced. from

are left with more money to lend.

(15,40)=>(4,23)

NBFC regulatory framework

government should reduce its shareholding from public sector banks.

done done, SBI shares sold, nowadays government owns ~60%. (this facilitates entry of professionals in the board of directors)

Allow entry of private sector banks

done, leads to first round of bank

and foreign banks.

licences, explained below:

http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-co…

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Bank licences: 1 s t Round (1993) RBI invites application 1993 New private banks start Operation: 1994-95 onwards Total ten private banks given licences: 6 still running + 4 closed down. 6 running

1. ICICI 2. HDFC 3. UTI=>became Axis bank (2007) 4. IDBI 5. Indus 6. DCB All of above running successfully, so that gives us “positive arguments”- that not all private entities are seamstress. in fact, ICICI, HDFC, Axis = top banks of India, even have presences abroad, employ lakhs of people. Hence no harm in giving bank licences to private players. 4 closed down

Bank

merged with

why? recall Ketan Parekh- he took money from

Global

Oriental

Trust

bank of

Bank

Commerce

Madhupura cooperative Bank, A’bad and used it to run scam in Sharemarket. Same Ketan had also taken some money from Global Trust bank also=> news stories =>junta panics and runs to take out all money=> business collapsed.

Bank of

Centurion

Punjab

bank

Centurion bank

loss making. hardly any depositors and loan takers, couldn’t stand in competition against SBI, ICICI, BoB etc.

HDFC

same as above

HDFC

same as above

Times Bank

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These four #EPICFAIL banks give us the “negative arguments” that private companies must not be given bank licences. Because they can also close down like ^these, creating panic among the clients, blood pressure, heart attacks and suicides. Anyways, moving on

Narsimhan Committee II (1998) 1. Introduce Voluntary retirement scheme (VRS) in public sector banks. 2. Legal reforms for loan recovery. =>SARFAESI 2002 3. Computerization, electronic fund transfer, legal framework 4. Payment and Settlement Act=>Retail (ECS, NEFT, Card) + Wholesale (RTGS) 5. Continue allowing entry of private banks and foreign banks.

New Bank licences 2 nd round (2001) 2001: applications invited 2003-04: winners launch banks. From the earlier #EPICFAIL of those four banks, RBI also learned lesson. This time RBI gave licence only two strongest contenders: 1. Kotak Mahindra 2. Yes Bank

New Bank licences 3 rd Round (2013-14) 2010: Finance minister says we need to give more licences. 2013, February: RBI invites applications with following conditions: Conditions/guidelines for new bank licence application:

1. must include class 10-12-college marksheet, school leaving certificate and three passport sized photos 2. 10 years’ successful work-ex (=”Fit and proper” criteria) 3. minimum capital Rs.5 billion 4. Will have to get shares listed on stock exchange within three years, bring down voting rights to 15% within 12 years. why? http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-co…

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say Anil Ambani gets licence, in the beginning he’d have ~100% ownership and decision making. But in the long run such “one man game show” = not good in banking sector. So he’ll have to get the shares listed within three years. once shares are listed, junta starts buying those shares= they elect the board of directors (BoD) and then BoD makes policy decisions of the bank, appoints CEO and top executives and so on. By 15 years, Anil should sell majority of his shares to junta- so that he holds barely ~40% or less of the bank shares = he cannot have lot of “say” in bank’s decision making = bank doesn’t run according to his whims and fancies =rational decision making. Anyways moving on to the rules 5. foreign shareholding must not be more than 49% (for the first five years) 6. 50% of the directors should be independent (=not chosen by majority shareholder e.g. Anil) 7. Such bank must not invest in shares/bonds of its parent group (e.g. Anil’s telecom/electricity business) 8. must have viable business plan 9. must open atleast 25% branches in the unbanked rural areas. (as per latest census there are ~10000 such places) 10. Have to comply with PSL (priority sector lending) norms. Many other technical rules but for descriptive/interview answerabove 9-points sufficient. Total 26 applied, including Anil Ambani, Birla, Bajaj, Tata, Muthoot, Indian post. later two left (TATA, Videocon) + one came (KC Land and finance ltd.) Thus 25 left. Bimal Jalan Committee

Now Rajan had to decide winners among those 25 applicants. Sep 2013: Rajan sets up RBI High level advisory Committee to process those applications. http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-co…

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Bimal Jalan (Chairman)

Former RBI governor

Usha Thorat

Ex-RBI Deputy Governor

C B Bhave

Ex-Sebi chairman

Nachiket Mor

RBI board member

Important: Bharatiya Mahila Bank also launched in Sep’13 (but its public sector bank, has nothing to do with this “third” round of Bank licences or Bimal Jalan Committee) Anyways, moving on November 2013 February 2014 March 2014

Bimal first meeting

Bimal submits report Rajan fears Election commission’s model code of conduct, seeks their approval.

31st March

EC gives approval

2st April

Two winners announced. (Bandhan Microfinance and IDFC)

Bandhan Microfinance and IDFC Bandhan Microfinance

IDFC (Infrastructure Development and Financial Corporation)

West Bengal

Mumbai

Micro-finance company

infrastructure finance company

Chandra Shekhar Ghosh

Rajiv Lall

net worth 1100 Cr., 45%

net worth 21000 cr., but rural presence

branches in rural areas

low.

These two are given only “in-principle” approval. Meaning

In principle approval Within 18 months must get net worth Rs.1000 crore http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-c…

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Must open 25% branches in unbanked rural areas. once they fulfill above conditions, RBI will give them licence under Banking Regulation Act, 1949 [Sec.22(1)] Once they get licence under BRA, then we can open current account, savings account etc. RBI has also prohibited the promoters (Ghosh and Lall) to hold CEO position in their respective banks. This is meant to prevent conflict of interest. Because in past, Global Trust bank’s CEO Ramesh Gelli was accused of involved in Ketan Parekh scam. Curiously though Yes Bank’s promoter Rana Kapoor enjoys both MD and CEO position in his bank! India post

For Indian postal department, Bimal Jalan said “RBI should consult separately with government and give licence if necessary.” Kumar Mangalam Birla’s name involved in Coal block scam, Anil Ambani in 2G case, hence licence not given.

What is Differential licences? Total 25 applied, but only two won so what about the remaining 23 contenders? Will they get any consolation prize? Yes. Rajan said they can later apply for Differential bank licences. Differential bank licences = for opening payment banks, wholesale banks etc (who’re not “full” banks like SBI, PNB etc.) for more on these differential banks read following articles on Nachiket Committee: 1. Wholesale Banks 2. Payment Banks

New Private banks: Pro and Against arguments Anti arguments

Pro arguments Existing banks not sufficient for 100% financial inclusion. only one in two Indians have bank account Only one in seven Indians gets loan from

http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-c…

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banks (others have to rely on the evil There is no need for additional private banks,

money lenders who charge 36% compound interest rate!)

existing banks sufficient. As per Census 2011 Only 67% of Urban households getting banking services. Only 54% Rural households getting banking services. well in that case, government should launch some Rajiv Gandhi scheme to open bank accounts for everyone, there is no need to get new private banks! Besides, these two (Bandhan and IDFC) are too small to be any relevant in “financial

Throwing sakaari money, subsidies and schemes to solve every problem = bad idea. Business has to become vibrant by itself. It is true both Bandhan and IDFC are “mosquitos” compared to elephants like SBI and ICICI but every maestro was an amateur someday.

inclusion”. as a Microfinance company, Bandhan cannot open savings account / current account etc (Because they don’t have bank licence) as a result, such microfinance As per your own table, Bandhan already has 45% of her branches in rural area as microfinance company, then why do they need bank licence? They’re already doing financial inclusion!

companies have to borrow money from other banks, NABARD etc @12-15% interest + have to maintain profit margin=> they give loans to poor people yes, but at 23-25% interest rate. but if same Microfinance company was given bank licencee, they can accept public’s deposit money under savings account ~4% interest, fixed deposit ~9% interest => cheaper way to arrange loan money. can give loans to poors at reasonable rate like 10-15%

In the first round, ten banks http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-c…

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were given licence, four of them closed down…..private sector cannot compete with existing giants. They try to take ‘shortcuts’, hence all the

The same licensing round gave us giants like ICICI, Axis bank and HDFC. It is wrong to think every private player is out there only to bully, loot and steal.

scams. The same ICICI Bank, HDFC RBI has taken quick and firm action against Bank and Axis Bank were

those three banks. And the inquiry revealed

caught violating KYC norms

it wasn’t the mass scale organized money

and doing money laundering

laundering operation but irregularity on part

case in the Cobra post sting

of certain branch managers to overcome

operation.

the “targets”.

These two small players cannot even afford to launch all India ATM network, forget about opening “branch”

They don’t need to open ATMs anyways, because of the “White label” ATM scheme.

offices. In the early 90s, all nationalized banks were heading towards #EPICFAIL, so to correct RBI should gave given licences to more applicants, like they did in the 90s (ten licences).

the course, RBI had to get in more players to breed competition. Same is not the case today- two new banks are good enough. If Rajan gave licence to 15-20 applicants at once => too much competition => predatory pricing like in aviation industry => smaller players will be wiped out.

Public sector banks are already bleeding because of the heavy marketing and teaser rates offered by Private banks. Two more such banks will increase the misery of the public sector banks. Rajan’s “American” ideas of free market, wholesale banks, differential licenses

In the end, Business is all about the survival of the fittest. Public sector banks and their “trade unions” should learn to perform or perish. Customer deserves better services. Just to make life easier for sarkaari banks, we must not prevent the entry of private sector.

Just two new banks cannot create Subprime crisis. RBI is much more vigilant and strict than their American counter part US feds. It

http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-c…

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etc. will ruin Indian banking

is wrong to assume that Rajan comes from

sector and Economy. What

America so he is automatically an evil

works in USA need not

capitalist, and all the “hushiyaari”

automatically work in India as (smartness) is with Newspaper columnists in well. This will lead to

The***** only.

subprime crisis like disaster.

More pro-con arguments can be added, post them in comments below!

Bharatiya Mahila Bank (2013) This has nothing to do with Bimal Jalan Committee or third round of private bank licences. But to confuse you in MCQs, the examiner will deliberately include some facts related to Mahila bank. Therefore, you must know the basics: Budget 2013: Chindu announced to open this bank with 1000 crore Rs. (=100% State Owned / public sector bank.) Keep in mind, Chindu also setup “Nirbhaya fund” for women security initiatives. But that’s separate 1000 crore fund and this is separate 1000 crore bank. (tricky MCQ) Concept is not new: Pakistan and Tanzania already setup such banks in past. MBN Rao Panel prepared blue print (he was chief of Canara bank) Sept. 2013: licence given November 2013: bank launched on Indira Gandhi’s b’day. HQ= Delhi but since assembly election was going on, hence to follow the model code of conduct, they launched the bank from Mumbai

How is it a Mahila Bank? Boss Usha Anantha-Subramanian =woman Board of Directors=all women. but staff = male + female mid-level staff from BoB, PNB on deputation= male + female. Customers (Depositors) = male + female. (no distinction among them, both get same interest rate on their savings account / FD etc.) http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-c…

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BUT Loan giving => predominantly to women. Women entrepreneurs can get loans up to Rs 1 crore without collateral (meaning they don’t have to mortgage their house/factory/jewellary) kitchen loans, education loans, small home-based catering businesses Projects for Skill development, financial literacy among women. hence the name “Mahila Bank”- because it’ll predominantly cater the credit needs of women entrepreneurs and Self help groups.

Business plan of Mahila Bank? 1. By March 2014: 25 branches in capitals/major cities of India 2. 25% branches in unbanked rural areas. 3. By 2020: 700+ branches; 60k cr business Software as such most desi banks use “finacle” core-banking software designed by Infosys But this Mahila bank got Core Banking Software by FIS (American Co.) (^ya this type of GK essential for IT-graduates for the bank interview stage.)

Why Mahila Bank is mere publicity stunt? (Interview Q.) Bharatiya Mahila Bank is a mere symbolic exercise for feel good publicity. Do you agree? Yes/No and Why? I already mentioned the Positive points 1 cr. loan without collateral, skill development for women etc. But in Group discussion/ interview, you need to be aware of the negative points as well, in case the other party decides to play “Devil’s advocate”. Mahila Bank is mere tokenism, without substance because: 1. SBI, PNB, BoB better suited, they have pan-India presence including in rural areas. Govt. already majority shareholder. Could have launched the 1 crore without collateral scheme http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-c…

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4/19/2014 [Economy] New Bank Licences: Bandhan, IDFC, Bharatiya Mahila Bank; Differential Bank licences, Bimal Jalan Committee, Narsimhan Committee; ar…

without Mahila Bank. 2. 25% rural branching: duplication of effort. 3. In the first phase focus on state capitals and UT = real need of women financial inclusion is in rural areas and not those big cities. 4. Mid-level executives all “imported” from BoB, PNB etc. such deputed staff usually don’t have or motivation to put their blood and sweat in making this new bank successful. Their loyalty remains with their own parent bank only. 5. They’re offering 4.5%/5% interest rate on savings account but pan India presence necessary, otherwise customers won’t feel attracted. Besides private banks like Kotak already offering 6% Visit Mrunal.org/Economy For more on Money, Banking, Finance, Taxation and Economy.

Previous Posts [Fed Tapering:Part1 of 2] Meaning of Fed Tapering, its Negative Impact on Indian Economy, Worst case scenarios, Balance of Payment Crisis, explained [Fed Tapering:Part2 of 2] Measures to immunize Indian Economy against negative impacts of Fed Tapering, Currency Swap, Dollar Swap, FCNR swap, Brics bank explained [Economy] Quantitative Easing: Meaning, phases, Impacts on Indian Economy, Rupee-Dollar Exchange rate, Pros & Cons, Positive & Negative aspects explained [Budget] Interim Budget 2014: speech highlights, Funds, Schemes, CSIS, UDAAN, Magnivisualizer, RDB Kit, NIMZ, Essays [Budget] Interim Budget 2014: Plan vs Non-Plan Expenditure, Subsidies, Disinvestment, Deficits, PDMA Public Debt Management Agency [Budget] Interim Budget 2014 : Revenue Part: Non-Tax http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-c…

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4/19/2014 [Economy] New Bank Licences: Bandhan, IDFC, Bharatiya Mahila Bank; Differential Bank licences, Bimal Jalan Committee, Narsimhan Committee; ar…

Receipts, Expenditure,Effective Revenue Deficit, Loans, Interest, Dividend classification explained [Budget] Interim Budget 2014 (Part 1of4): Revenue reciepts, Direct taxes, Indirect taxes, Gross vs Net taxes, shortfalls in collection [Economy] Current 2014 Feb Week 1: Fiscal Policy, Spectrum, Subsidies, LPG and Banking Sector (Part 1 of 3) [Economy] Current 2014 Feb Week 1: FDI, Regulatory Bodies, Infrastructure (Part 2 of 3) [Economy] Current 2014 Feb Week 1: Bilateral, Poverty Hunger, Food Processing, PIN (Part 3 of 3)

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अब तक 28 कम स लखी गयी

Ajay  Sir, aapka last 74 page show kar raha hai..but mene dekha tha ki aapka article 2009 ka bhi tha but aap woh nahi hai..kiya woh page delete kar diya gaya hai kiya..can i have access to those page.. Reply

Manu  “but aap wo nahi hai” Bhai yakeen maan ye wahi hai…. Reply

Ajay  sorry frnd, typo mistake “but aab woh page nahi hai” but gud catch..sry Mrunal sir too.. Sir, aapka last 74 page show kar raha hai..but mene dekha tha ki aapka article 2009 ka bhi tha but but aab woh page nahi hai..kiya woh page delete kar diya gaya hai kiya..can i have access to those page…mujhe isse acha best guidance kahi nahi milega Reply

prateek  AWESOME ARTICLE BY MRUNAL Reply

VIVEK  kudos to you….mrunal sir!!!!!. Sir, if possible in near future, plz throw some light on IMF reform & Environmental impact assessment topic. plz sir. Reply http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-c…

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4/19/2014 [Economy] New Bank Licences: Bandhan, IDFC, Bharatiya Mahila Bank; Differential Bank licences, Bimal Jalan Committee, Narsimhan Committee; ar…

sushant  sir thank u for this timely article…plz do environment impact assessment and imf reform Reply

Manu  Thank you soo much….Plz keep posting articles related to upcoming SBI exam. God Bless u :) Reply

Abhiram  Sir Science & Tech pls…Hindu Reply

Aman  Sir ji ….Person in News ,Awards…etc SSC CGL Re-Exam ke liye Post karoge kya ? Reply

Aman  Sir ji reply plz … Reply

Aman  Mrunal pls tell sir ..ab to Admit Card bhi aa gyi :( Reply

Pratik  Thanx for nice article. Reply

chandan asthana  good on……very informative Reply

parmod  thanks mrunal Reply

Tahir Ahmed Majid  Sir kindly provide the study plan for Prelims Paper II as you’ve provided for the SSC – CGL. Please sir kindly provide something for this paper. Reply

ashutosh  I cannot see the admit card for re exam of CGL 2013 on SSC-NR website… http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-c…

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4/19/2014 [Economy] New Bank Licences: Bandhan, IDFC, Bharatiya Mahila Bank; Differential Bank licences, Bimal Jalan Committee, Narsimhan Committee; ar…

Reply

ANUBHAB  SIR, its really good to learn from you but now-a-days i am experiencing some spelling and word-mixing mistakes. i am feeling ashamed to say it but i am a real devotee of you and cannot hear any wrong words about you from anyone. so i am informing you. please forgive me if it does hurt you. Reply

Yasar  Sir ur articles on aptitude are very interesting and helpful ..please add some more in between. Reply

vishal kumar  thank for the article sir. Reply

pankaj prajapati  Thanks alot to provide such article new vision that help to our civil cervices exam preparation Reply

Aman  Northern Region -Delhi …Admit Card uploaded on Website …http://sscnr.net.in/newlook/Admitcard_CGLE2013_REEXAM/CheckRoll.aspx Reply

risha  thank you so much Reply

pankaj prajapati  Thanks alot sir to provide such article new vision on time that help to our civil cervices exam preparation Reply

RAJIV  Sir i cannot find your previous articles of economy like Article on IIP and inflation:cost push-meaning,reasons,solutions and csat mock questions and etc etc……Pls find me a solution…also i need bottom to up economy archives sir pls help me out. Reply

Ajay  Ya, me too looking for old pages..Mrunal sir pls help.. Reply http://mrunal.org/2014/04/economy-new-bank-licences-bandhan-idfc-bharatiya-mahila-bank-differential-bank-licences-bimal-jalan-committee-narsimhan-c…

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4/19/2014 [Economy] New Bank Licences: Bandhan, IDFC, Bharatiya Mahila Bank; Differential Bank licences, Bimal Jalan Committee, Narsimhan Committee; ar…

JIGAR  Some one please tell me the difference between government companies and public sector undertakings.. Reply

dallu  ULTIMATE………… Reply

ARPITA  sir can u plz upload the study plan for sbi po exam. i need ur guidance especially in essay section. Reply

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