Contd. (ref . prior blogs - last HERE >
http://vswaminathan-swamilook.blogspot.in/2014/10/statutory-audit-x-internal-audit.html
>>>>>
Update
TG
Dec 18
SS TARAPORE
"Thus, banks (OUGHT TO?) strive to provide the best of the both worlds – by marrying technology with human interface."
TAIL PIECE
http://courtverdict.blogspot.in/2014/08/cheque-bouncing-sc-verdict-on.html
Gen. Info.
Banking Ombudsmen - Reserve Bank of India
http://vswaminathan-swamilook.blogspot.in/2014/10/statutory-audit-x-internal-audit.html
>>>>>
Update
TG
Dec 18
>>>
What is corruption?
moneylife
TOP-up
bl
The impression given that the cautioned cost of 'jan dhan' has to be measured only by the
Rajan slams banks for 'hiding' NPAs
< "In India, too many large borrowers insist on their divine right to stay in control despite their unwillingness to put in new money. The firm and its many workers, as well as past bank loans, are the hostages in this game of chicken — the promoter threatens to run the enterprise into the ground unless the government, banks, and regulators make the concessions that are necessary to keep it alive," he said. The governor was delivering the Dr Verghese Kurien Memorial Lecture at IRMA, Anand on Tuesday.
The governor lashed out at banks for joining hands with borrowers in seeking relaxation in classifying some projects as "non-performing assets". "This is short-sighted, especially on the part of the banks. Today, the market does not distinguish much between non-performing loans and restructured loans, preferring to call them both stressed loans and discounting bank value accordingly," Rajan said.
"Mutilating Shakespeare, an NPA by any other name smells as bad! Indeed, because forbearance makes bank balance sheets opaque, they may smell worse to analysts and investors. The fundamental lesson of every situation of banking stress in recent years across the world is to recognize and flag the problem loans quickly and deal with them. So regulatory forbearance, which is a euphemism for regulators collaborating with banks to hide problems and push them into the future, is a bad idea," Rajan said.
BL
DEC 8
previous
The RBI has been too cautious
What Saarc can and cannot do
The real issue with Flipkart
Finally, the truth about Satyam
CRR and SLR in Indian banking
ml
Nov 29
BL
CRUX :
Lci
Cpc and sarfeasi
Banking rules on fd / td 'preclosre charges'?
TG
Nov 28
The SC verdict, as read and understood, applies, ipso facto, to cheques issued fraudulently; that is, drawer knowing full well that it is sure to be ‘dishonored’ for want of funds (credit balance in his account) at the point in time of its being presented for clearing (‘the instant case’). Now, with CTS (electronic) clearing in place, under which it is the ‘image’ of the cheque that is transmitted to the central clearing, not the physical cheque. At the central clearing, it is learnt, there are varying reasons for it not being cleared but returned to the drawee via his bank; such as, signature not tallying even if minutely. To cite one such real life experience but of bizarre kind , the CTS cheque book issued , for gross negligence on the part of drawer’s bank branch, got omitted to be entered on the system at the time of issuance, hence not found on manually viewing the system by the clearing. Further, in such a case, the drawer’s bank branch, has no means of coming to know of the fact of the cheque returned unless and until reported; and further, even then it has no clue, the bank heads / staff being what they are, is in no position to readily and satisfactorily explain the story behind. Anyone or more is sure to have had similar experience, also burdened with so called ‘cancellation charges’, – an insult added to the injury suffered for no fault of his. Yet another point, – cheque issued may not necessarily always be in discharge of ‘debt owed’; e.g. in payment of a subscription/membership fee. Most certainly, common sense should tell, the apex court ruling in the instant case can have no application to the rest of cases. It is unto the RBI, as the architect of the whole idea of CTS clearing, to promptly have a re-look into and advise its constituents to revamp by plugging in the wanted correctives; thereby save the innocent banking public from any disgusting hassle any- more/longer.
TOI
Nov 26
Rajan slams banks for 'hiding' NPAs
What is corruption?
moneylife
|
TOP-up
bl
The impression given that the cautioned cost of 'jan dhan' has to be measured only by the
Rajan slams banks for 'hiding' NPAs
< "In India, too many large borrowers insist on their divine right to stay in control despite their unwillingness to put in new money. The firm and its many workers, as well as past bank loans, are the hostages in this game of chicken — the promoter threatens to run the enterprise into the ground unless the government, banks, and regulators make the concessions that are necessary to keep it alive," he said. The governor was delivering the Dr Verghese Kurien Memorial Lecture at IRMA, Anand on Tuesday.
The governor lashed out at banks for joining hands with borrowers in seeking relaxation in classifying some projects as "non-performing assets". "This is short-sighted, especially on the part of the banks. Today, the market does not distinguish much between non-performing loans and restructured loans, preferring to call them both stressed loans and discounting bank value accordingly," Rajan said.
"Mutilating Shakespeare, an NPA by any other name smells as bad! Indeed, because forbearance makes bank balance sheets opaque, they may smell worse to analysts and investors. The fundamental lesson of every situation of banking stress in recent years across the world is to recognize and flag the problem loans quickly and deal with them. So regulatory forbearance, which is a euphemism for regulators collaborating with banks to hide problems and push them into the future, is a bad idea," Rajan said.
The
'bag', the proverbial hiding place, was presumably wide open all along;
it is a tragedy that still, infer-ably, either none concerned / having
stakes has so far cared / minded to peep into, to find the proverbial
black cat in its hiding. Is that not a pointer to the weakness of a high
order, of the in-house code of ethics , more so of the vital in-thing
known as internal control / audit in place supposed to be the top board
of management’s whole and sole duty and the utmost responsibility, even
in the normal course of the bank’s overall governance itself.
BL
DEC 8
Banks now borrow at floating rate
Radhika Merwin, BL Research Bureau
Banks used to source funds for their short-term needs from the RBI at a fixed repo rate,... »previous
The RBI has been too cautious
What Saarc can and cannot do
The real issue with Flipkart
Finally, the truth about Satyam
CRR and SLR in Indian banking
ml
| Fighting Regulations |
| If you want to keep your money safe, you will have to assume regulators are not there to protect you |
Nov 29
BL
Puneet Nanda
Meet Vikram, a 42-year-old
family man who is doing well. Two decades ago, when Vikram st... »
CRUX :
Reputation in the open
To give the relevant information to ...., the brand marketer will have to carefully plan the brand presence across the new media. Well-managed brand engagement with the customer on non-traditional media can lead to lower acquisition cost and solve the ROI challenge for the marketer.
To give the relevant information to ...., the brand marketer will have to carefully plan the brand presence across the new media. Well-managed brand engagement with the customer on non-traditional media can lead to lower acquisition cost and solve the ROI challenge for the marketer.
Today financial brands need to manage their reputation in social
media. Prospective customers get influenced by what other people say. Financial
services are known to get a higher share of negative comments as it is much
more difficult to maintain a consistent customer experience than in the case of
manufactured-product brands. The challenge is not only to minimise the actual
negative experience but also make sure that a balanced view is presented in
social forums so that the reputation is maintained.
Lci
Cpc and sarfeasi
Banking rules on fd / td 'preclosre charges'?
TG
Nov 28
WPRT the “Conclusion”, based on information gathered from
known reliable sources, to share a few thoughts:
The SC verdict, as read and understood, applies, ipso facto, to cheques issued fraudulently; that is, drawer knowing full well that it is sure to be ‘dishonored’ for want of funds (credit balance in his account) at the point in time of its being presented for clearing (‘the instant case’). Now, with CTS (electronic) clearing in place, under which it is the ‘image’ of the cheque that is transmitted to the central clearing, not the physical cheque. At the central clearing, it is learnt, there are varying reasons for it not being cleared but returned to the drawee via his bank; such as, signature not tallying even if minutely. To cite one such real life experience but of bizarre kind , the CTS cheque book issued , for gross negligence on the part of drawer’s bank branch, got omitted to be entered on the system at the time of issuance, hence not found on manually viewing the system by the clearing. Further, in such a case, the drawer’s bank branch, has no means of coming to know of the fact of the cheque returned unless and until reported; and further, even then it has no clue, the bank heads / staff being what they are, is in no position to readily and satisfactorily explain the story behind. Anyone or more is sure to have had similar experience, also burdened with so called ‘cancellation charges’, – an insult added to the injury suffered for no fault of his. Yet another point, – cheque issued may not necessarily always be in discharge of ‘debt owed’; e.g. in payment of a subscription/membership fee. Most certainly, common sense should tell, the apex court ruling in the instant case can have no application to the rest of cases. It is unto the RBI, as the architect of the whole idea of CTS clearing, to promptly have a re-look into and advise its constituents to revamp by plugging in the wanted correctives; thereby save the innocent banking public from any disgusting hassle any- more/longer.
The burden of the ‘song’ (longish comment ventured) is to
pin point that, in such or similar matters of commonly aired public grievances,
it is for the RBI, as the empowered sole authority to, realize and tale all
precautions even while conceiving of and bringing in any such innovative
changes in the extant system/ practice.
G S Rao, Deputy General Manager (Legal) OCL India
Limited, Email – gsrao@ocl.in
(May be contd.)
TOI
Nov 26
Rajan slams banks for 'hiding' NPAs
< "In
India, too many large borrowers insist on their divine right to stay in
control despite their unwillingness to put in new money. The firm and
its many workers, as well as past bank loans, are the hostages in this
game of chicken — the promoter threatens to run the enterprise into the
ground unless the government, banks, and regulators make the concessions
that are necessary to keep it alive," he said. The governor was
delivering the Dr Verghese Kurien Memorial Lecture at IRMA, Anand on
Tuesday.
The governor lashed out at banks for joining hands with borrowers in seeking relaxation in classifying some projects as "non-performing assets". "This is short-sighted, especially on the part of the banks. Today, the market does not distinguish much between non-performing loans and restructured loans, preferring to call them both stressed loans and discounting bank value accordingly," Rajan said.
"Mutilating Shakespeare, an NPA by any other name smells as bad! Indeed, because forbearance makes bank balance sheets opaque, they may smell worse to analysts and investors. The fundamental lesson of every situation of banking stress in recent years across the world is to recognize and flag the problem loans quickly and deal with them. So regulatory forbearance, which is a euphemism for regulators collaborating with banks to hide problems and push them into the future, is a bad idea," Rajan said.
>>>>>>
File Bank Complaint Here - Akosha.Com
Online Complaint Forum. - File your complaint here. Immediate action on your complaint.
online-complaint-forum.akosha.com
ICL
< The purpose of SICA is to provide ameliorative measures for reconstruction of sick companies, and the purpose of RDDBFI is to provide for speedy recovery of debts of banks and financial institutions. Indeed both are special laws. With the purpose of reconstruction and matters incidental thereto, SICA must be considered as special law, though it may be a general law in relation to recovery of debts. Whereas RDDBFI is a special law, in relation to recovery of debts and SICA may be considered as general law.
< ... In this backdrop, section 22 of SICA was enacted dealing with suspension of legal proceedings, contracts, etc. during the continuation of BIFR proceedings.
ET
Property Advice
2. Your loan type: As you already know, there are two types of home loans based on the interest rate-fixed and floating. As the name suggest, a fixed rate loan is where the interest rate doesn't change with market fluctuations. Usually, this rate is 1-2.5 percentage points higher than the floating rate home loan. Floating interest loan, on the other hand, varies according to the market conditions.
The clause varies from bank to bank and is invoked either after a fixed period or a sharp spike in interest rates. So the EMIs also move up and down with change in base rate.
Though a fixed interest rate may seem more attractive in a high interest regime, experts advise otherwise for various reasons. First, the fixed nature of the interest itself is a disadvantage in a long-tenure loan like home loan where rates are bound to come down some time even if they are high at present.
In that case, the borrower has to repay the same amount every time even if the rates reduce. Moreover, fixed rate loans come with the 'reset clause', that says it is subject to revision. Though the nature of the clause varies from bank to bank it is usually invoked either after a fixed period or a sharp spike in interest rates. Therefore, a floating rate makes more sense unless if the economy promises a sharp rise in interest rates in the near future.
3. The fine print: a home loan agreement is a legal document and therefore often incomprehensible. However there can be quite a few devils hiding in the details. You may think a 'default' is only if you do not pay the EMI. However, there are some banks who define default as when the borrower expires, gets a divorced (in case joint-loans), or the borrower is/are involved in any civil litigation or criminal offence.
Also, some banks have a security clause that makes that entitles the bank to demand additional security along with your loan amount in case property prices fall. If you fail to pay up, you'll be marked as a defaulter.
Be careful about the add-on charges and penalties. It's not just the interest that you pay. There are additional charges such as administrative and service charges or processing fees. Also, there are penalties like on pre-payment of the loan. Consider these when comparing the deals offered by various lenders. >
<<<<<
"Builders optimistic of the economic environment"
BL
Nov 20
Big Banks & Big Data SAS
Nov 17
NOTE: The above is something not unrelated but closely related / connected with,-
TOI
BL
The culture of loan waivers must end: Raghuram Rajan
(see below)
cross refer >
ICL (sebi)
Nov 16
The governor lashed out at banks for joining hands with borrowers in seeking relaxation in classifying some projects as "non-performing assets". "This is short-sighted, especially on the part of the banks. Today, the market does not distinguish much between non-performing loans and restructured loans, preferring to call them both stressed loans and discounting bank value accordingly," Rajan said.
"Mutilating Shakespeare, an NPA by any other name smells as bad! Indeed, because forbearance makes bank balance sheets opaque, they may smell worse to analysts and investors. The fundamental lesson of every situation of banking stress in recent years across the world is to recognize and flag the problem loans quickly and deal with them. So regulatory forbearance, which is a euphemism for regulators collaborating with banks to hide problems and push them into the future, is a bad idea," Rajan said.
The
'bag', the proverbial hiding place, was presumably wide open all along;
it is a tragedy that still, infer-ably, either none concerned / having
stakes has so far cared / minded to peep into, to find the proverbial
black cat in its hiding. Is that not a pointer to the weakness of a high
order, of the in-house code of ethics , more so of the vital in-thing
known as internal control / audit in place supposed to be the top board
of management’s whole and sole duty and the utmost responsibility, even
in the normal course of the bank’s overall governance itself.
>>>>>>
Recent Article in Banking
File Bank Complaint Here - Akosha.Com
Adcorporationbank-complain.akosha.com/
Loan/Card, Account Issue File Here- We'll Take Immediate Action
Search Results
Online Complaint Forum. - File your complaint here. Immediate action on your complaint.
online-complaint-forum.akosha.com
Searches related to corporation bank
ICL
Posted: 23 Nov 2014 04:08 AM PST
[The following post is contributed by Prachi Narayan of Vinod Kothari & Company. She can be contacted at prachi@vinodkothari.com]
< The purpose of SICA is to provide ameliorative measures for reconstruction of sick companies, and the purpose of RDDBFI is to provide for speedy recovery of debts of banks and financial institutions. Indeed both are special laws. With the purpose of reconstruction and matters incidental thereto, SICA must be considered as special law, though it may be a general law in relation to recovery of debts. Whereas RDDBFI is a special law, in relation to recovery of debts and SICA may be considered as general law.
In the above context,
the approach is to carefully examine the purpose, intention and objectives the enactment
aims so as to construe what is actually special and what becomes general.
Further, in order to
ascertain the real purpose of both the enactments and also to address the
ambiguity over why in this case the subsequent act would not prevail over the
previous act, a deeper look into the Statement of Objects and Reasons of both
enactments becomes imperative.>< ... In this backdrop, section 22 of SICA was enacted dealing with suspension of legal proceedings, contracts, etc. during the continuation of BIFR proceedings.
Section 22 (1)
provides that “Where in respect of an
industrial company, an inquiry....>
ET
Property Advice
< 6 things to know before taking a home loan
Taking a home loan is easier said than done. Though it may seem all banks are eager to lend, getting a loan sanctioned can be a tedious task. Also, like any other financial product, it is important to be acquainted with how home loans work to avoid any nasty surprises later. Here are some important things you should know before signing on the dotted line.....2. Your loan type: As you already know, there are two types of home loans based on the interest rate-fixed and floating. As the name suggest, a fixed rate loan is where the interest rate doesn't change with market fluctuations. Usually, this rate is 1-2.5 percentage points higher than the floating rate home loan. Floating interest loan, on the other hand, varies according to the market conditions.
The clause varies from bank to bank and is invoked either after a fixed period or a sharp spike in interest rates. So the EMIs also move up and down with change in base rate.
Though a fixed interest rate may seem more attractive in a high interest regime, experts advise otherwise for various reasons. First, the fixed nature of the interest itself is a disadvantage in a long-tenure loan like home loan where rates are bound to come down some time even if they are high at present.
In that case, the borrower has to repay the same amount every time even if the rates reduce. Moreover, fixed rate loans come with the 'reset clause', that says it is subject to revision. Though the nature of the clause varies from bank to bank it is usually invoked either after a fixed period or a sharp spike in interest rates. Therefore, a floating rate makes more sense unless if the economy promises a sharp rise in interest rates in the near future.
3. The fine print: a home loan agreement is a legal document and therefore often incomprehensible. However there can be quite a few devils hiding in the details. You may think a 'default' is only if you do not pay the EMI. However, there are some banks who define default as when the borrower expires, gets a divorced (in case joint-loans), or the borrower is/are involved in any civil litigation or criminal offence.
Also, some banks have a security clause that makes that entitles the bank to demand additional security along with your loan amount in case property prices fall. If you fail to pay up, you'll be marked as a defaulter.
Be careful about the add-on charges and penalties. It's not just the interest that you pay. There are additional charges such as administrative and service charges or processing fees. Also, there are penalties like on pre-payment of the loan. Consider these when comparing the deals offered by various lenders. >
<> The subject write-up, as independently viewed, frightfully
brings to surface yet again the largely obtaining unhealthy variance in
bankers’ practice, in more than one area /field of activity; and the
not-so-obvious inequities and hardships thereby meted out to the stakeholders,
in its very wide sense; not only borrowers for housing.
Suggestions, volunteered, in the order of relative significance /epitome and merits:
1. All PSBs,
so also the other banking companies , are to be made subservient to RBI, with
no reservation or exception; and be obligated to abide by and strictly follow
the banking Regulator's rules and regulations; and, in any event ,the Code of Ethics (inclusive
of all “principle-based” rules). May be,
except anyone or more of those considered worthy of relaxation or a different
yardstick being applied , for special reasons , provided being well-founded,
tested on the touch stone of customers’/ stakeholders’ rights and interests ,
not excluding minority of them.
2.Uniformity (universality) must be the fundamental and
crucially guiding factor of all such policies, so also directives, etc. issued
from time to time in accordance therewith.
To dilate:
The following are some of the related areas
calling for a special mention and requiring conscientious focus on, for
streamlining the present procedures, thereby for accomplishing uniformity and
in turn, better governance :
- ROI applicable to monies accepted by way of deposits of varying types- Fixed, Flexible, so on.
- Terms and conditions, to be set out with no ambiguity, made known to the depositor as at that point in time.
- Likewise, those for monies lent to borrowers of varying kinds ; especially ‘Home Loans’ , having regard to the fundamental distinguishing factor namely, that it has laudable social objectives to serve /sub-serve- that is, unlike and in comparison to any pure and simple commercial purpose/objective.
- Last but not least, the RBI, despite being endowed with powers of a mere ‘semi (or self) -regulatory’ authority, is capable of, hence is bound to, playing a pro-active role.
<<<<<
"Builders optimistic of the economic environment"
BL
Nov 20
Jaitley discusses steps to bring down rising NPAs
<<Big Banks & Big Data SAS
Rebranding of PSBs is need of the hour
<> The expert’s suggestions, particularly the concluding one, if
were read in between lines , as understood, sound an alert/hint at , though not
for the first time, as to why the banks, selectively PSBs should strive hard to
reclaim and restore the customers' long lost
faith in the banking system as a whole. By and large, whatever little left, has
, going by distasteful experience openly aired by the aggrieved far and wide, and
in many ways, certainly suffered a further dent, significantly after the 'core
system' (fully computerized environment ) came to introduced and became operative. As a
renowned humanitarian and truly wise man pragmatically echoed, in effect, from
his heart, - ‘business’ has more to it than ‘success’ , and ‘success’ has more
to it than ‘profits’ (the ‘bottom(most) line’). In one’s conviction, ‘brand’ is
a graphic description for the self-same ideal requiring to be kept in vision by
PSBs. It is left to the RBI, as the Regulator in control, to keep updating its constituents of, and
essentially be of the requisite guidance
in, the ever changing economic scenario. And do so objectively, with special focus on its far reaching consequences; not excluding its potentials to impact and impair, besides related others, the banking sector itself.
Nov 17
“We need true parity with banks”
<However, there were specific areas where the industry did make
representations. For instance, on the NPA recognition norm, our line of
argument has been that we tend to finance the SME and smaller end of the
market. Hence, conforming to the 90-day norm would be burdensome on companies
who finance these sections. This contradicts the objective of financial
inclusion, because players will be reluctant to take exposure in these
vulnerable segments.
Even if we accept that there has to be convergence, our concern
is that it is not really happening across the board. For instance, for banks
and HFCs that follow a 90-day norm, once you recognise an asset as NPA you
cannot recognise the income from such assets, which is fair enough. And the
same rule applies to us.
But the difference lies in the fact that
for banks and HFCs, the income from these assets is not considered for tax
purposes, whereas for NBFCs, it is treated as income for tax purposes.>
NOTE: The above is something not unrelated but closely related / connected with,-
TOI
BL
The culture of loan waivers must end: Raghuram Rajan
(see below)
cross refer >
Banks demand more tax breaks for bad-loan provisioning
ICL (sebi)
Nov 16
Posted: 15 Nov 2014 12:00 AM PST
Historically,
Indian companies have issued equity instruments in the form of
depository receipts (either American depository receipts (ADRs) or
global depository receipts (GDRs)) or convertible debt instruments in
the form of foreign currency convertible bonds (FCCBs). Of late, such
overseas securities issuances have reduced quite significantly. Now, the
Government has revamped the legal regime for overseas issuance of
securities so as to streamline it further, and facilitate further use of
this capital raising route by Indian companies. The recent legal
changes are two fold, one effected by the Ministry of Finance (MOF) and
the other by the Ministry of Corporate Affairs (MCA).
BL
Nov 14
The culture of loan waivers must end: Raghuram Rajan
The Points are seen to have been well made, with unbiassed merits.
To add a couple of more (for a serious look into):
1. The ongoing unbridled practice of , 'bailing out' - with no regard to the flip
side namely, potential impact /adverse effect on the lawful rights and
interests of the stakeholders- e.g. 'depositors' whose monies are siphoned off
for such purpose.
2. The standard provisioning
permitted, as a routine minimum for tax deduction, under the income-tax
law, for 'bad and doubtful debts' , with
no other criterion/or checks and balances, in place / to apply; which, in the ultimate
analysis, has the obvious potential to
breed other 'evils', such as corrupt practices in lending.
< Over to the Regulator
<< Venkat Loganathan
<< Venkat Loganathan
Reaction: Going by one’s quick but limited
understanding, the primary /upfront responsibility to recover lies with the
lending banks. Yes! Attachment of the property given as security by the
borrower is, perhaps, the ultimate recourse. But then, that is going to essentially
depend upon the quality /adequacy, in
legal terms, of the security so given and accepted by the lender,- which, more
often than not is done without , albeit
a must, a mindful scrutiny and diligent investigation. For instance, just as others, ‘home loans’ if
so given, - mostly impulsively, without a proper and intelligent scrutiny, so
also expert vetting of the supporting documentation offered by borrowers,- on
the security of the property of special kind known as, Flats or
Apartments, for reasons known or ought
to been known through wisdom to be gathered from past experience , are bound to
be confronted with insoluble/irresolute mind teasing legal problems/hurdles. This is an area in which it
is for the Regulator to be of effective guidance, as so required through binding
directives, to its constituents, to guard against possible disputes, ending up
in infructuous court litigation (civil
/criminal).
As may be readily imagined, RBI cannot fail to locate such instances from the open book of settled or unsettled ongoing court cases.
As may be readily imagined, RBI cannot fail to locate such instances from the open book of settled or unsettled ongoing court cases.
Politicians must put an end to the culture of loan
waivers, normally offered as a part of pre... »
MAVERICK VIEW
The recent abatement of the
year-on-year Consumer Price Index (CPI) inflation rate to below 7 per... » 1 comment
Non-Banking Finance Companies protest too much in
claiming that recent Reserve Bank of India regu... »
Non-CTS compliant cheques, drafts still in circulation
Non-CTS compliant cheques, drafts still in circulation
Having nothing to say for or against the canvassed urge to switch over, once for all, to the CTS, one may still wish to go by and openly endorse the merits behind the thinking that the customer will prefer the banks to strive and provide the best of both worlds- by "marrying technology with human interface"; more as a matter of practical convenience, not necessarily for the possible delight in it.
< Combining tech and human interface for customer delight
Reaction (OFFHAND)"Thus, banks (OUGHT TO?) strive to provide the best of the both worlds – by marrying technology with human interface."
TAIL PIECE
http://courtverdict.blogspot.in/2014/08/cheque-bouncing-sc-verdict-on.html
Gen. Info.
Banking Ombudsmen - Reserve Bank of India
www.rbi.org.in › About Us
Bangalore. Shri. M. Palanisamy C/o Reserve Bank of India 10/3/8, Nrupathunga Road Bangalore-560 001. Tel.No.22210771/22275629. Fax No.080-22244047.
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