Page 3 - Banking Finance July 2021

BANKING FINANCE
BANKING FINANCE
A LEADING MONTHLY JOURNAL ON BANKING & FINANCE

VOL. XXXIV NO. 07
From The Desk Of
July 2021, ISSN - 0971-4498
Editor-in-Chief
Ram Gopal Agarwala Editor-in-Chief
B.Com, LLB, FCA.
Editor Microfinance Institutions play a major role in expansion of
CA Rakesh Agarwal banking and finance services in the remotest part of the
M.Com (BIM), FCA, DISA, LLB,
FIII, PGJMC, MBA, FRMAI, PhD country. The RBI has proposed to remove pricing
Associate Editor restrictions for microfinance institutions (MFIs) in a report
Shyam Agarwal that reviewed regulations for the sector. The report has
M.Com (BIM), FCA, DISA, DIRM,
CCA, FIII, PGJMC, PGDMM proposed a uniform definition for microfinance loans for
Editorial Advisory Board banks, MFIs, and non-banking finance companies (NBFCs),
Dr. B. K. Jha and said that lending to a household should be capped in
Dr. K. C. Arora
Prof. (Dr.) Abhijeet K. Chattoraj relation to its income.
Mr. Sourav Chandra
Resident Editor
V. K. Agarwal, Agra The proposed privatization of PSU Banks has cast a fear in
Shaik Gulam Afzal Biya Bani, Saudi Arabia bank employees who fear loss of jobs and pensions. They
Amitabh Chattoraj, Bangalore are apprehending merging of branches and downsizing
Kalyan Jagnani, Mumbai
Shivkumar K Y, Pune may result in job losses. Once in private sector there would
Correspondence Address be some definite measures to cut down the cost and
25/1, Baranashi Ghosh Street,
Kolkata- 700007, India achieve operational efficiency. Government must
Phone : 033-4007 8378/3553 4434/4007 8428 considerately address their concerns.
E-mail : insurance.kolkata@gmail.com
Website : www.sashipublications.com
Portal: www.bankingfinance.in The Reserve Bank of India’s (RBI’s) 16 June monthly
Registered Office bulletin said forex reserves crossed $600 billion, making
31/1, Sadananda Road, P.S. Kalighat,
Kolkata -700 026, India India the world’s fifth-largest reserve holding country.
Single Copy ` 85/- However, RBI said this will still cover less than 15 months
Annual Subscription ` 990/- (Ord.) / ` 1340/- (Regd.)
Foreign air mail US$ 125 of projected imports, against Switzerland’s 39 months,
3 years subscription ` 2040/- Japan’s 22 months, Russia’s 20 months, and China’s 16
5 years subscription ` 3060/-
months. Since the publication of the bulletin, the reserves
All the payment must be made by DD favouring
BANKING FINANCE payable at Kolkata, India. rose further to $608.08 billion as on 11 June. This is a good
Please do not make any cash payment for sign for the country amidst the pandemic scenario in the
journal/books to any person representing BANKING
FINANCE and we shall not be responsible for the cash country.
payments.
The contents of this journal are copyright of BANKING The Directorate of Enforcement has transferred seized
FINANCE whose permission is necessary for
reproduction in whole or in part. The views expressed assets worth Rs. 9371.17 crore to public sector banks that
by contributors or reviewers in this journal do not
necessarily reflect the opinion of BANKING FINANCE suffered losses due to financial frauds committed by
and the Journal can not be held responsible for them. fugitive businessmen Vijay Mallya, Mehul Choksi and
All disputes subject to Kolkata jurisdiction only.
Nirav Modi. The total assets attached by the ED are worth
Publisher Sushil Kumar Agarwala, 31/1, Sadananda
Road, P.S. Kalighat, Kolkata -700 026, India. Printed by Rs. 18,170.02 crore. This will help the bank to reduce their
Satyajug Employee Co Operative Industrial Ltd, 13,
Prafulla Sarkar Street, Kolkata - 700 072. NPA’s and improve their balance sheets.

BANKING FINANCE JULY 2021 3