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COVER STORY
Sovereign Wealth Funds of Russia
-- Katuri Nageswara Rao
Sovereign wealth funds are growing significantly following bilateral trade surpluses against the US generated by Asian and Gulf economies. They may partly mitigate the challenges of global imbalances. Russian funds have also been growing essentially because Russia is an exporter of crude oil and this generates fiscal and current account surpluses.
© 2008 IUP . All Rights Reserved
MONETARY POLICY
Interest Rate Conundrum : Issues and Concerns
-- Manoranjan Sharma
Major central banks, except the US Federal Reserve, maintained status quo on their key interest rates. Major countries in the world are presently facing problems of rising inflation rate and slower economic growth. Given the inflationary pressures, central banks are likely to keep rates stable for the immediate future.
© 2008 IUP . All Rights Reserved
MONETARY POLICY
Managing Risks in Core Banking Solutions : Perform or Perish
-- Subhalaxmi Mohapatra and Suman Chakraborty
Core Banking Solution (CBS) is associated with a menu of risks like implementation risk, solution risk, technical risk, etc. Banks need to mitigate these risks for effective implementation of the CBS.
© 2008 IUP . All Rights Reserved
MONETARY POLICY
Management of Balance of Payments and foreign currency values by RBI : A Brief Study
-- Mallikarjunan Krishnamurthy
The balance of payments and the fluctuations in the exchange values of currencies are not simple monetary or economic phenomena, but they are the highly inflammable fuel that can set the economy on fire and unleash the cancerous inflation in the price levels.
© 2008 IUP . All Rights Reserved
REGULATION
Role of Chief Metropolitan Magistrate/District Magistrate in SARFAESI Act 2002
-- Rajendra Singh
The Sarfaesi Act 2002, which empowered banks to go out and seize the secured assets of their debtors without court intervention, sent out a ripple of fear, but did not help either as mountains of objections were filed. The lack of emphasis on ascertaining debt positions, the focus of the earlier Act, has meant that very little has been recovered. The core problem continues to be credibility of the Indian state as an effective arbitrator of debt disputes. The present article is devoted to making an effort to clarify the matter.
© 2008 IUP . All Rights Reserved
CRM
Customer Relationship Management in Banks : Winning Strategies to Improve Profitability
-- D Ramani Ravi
It is obvious that in order to survive and compete in any business, retention of customers is the key. New capabilities are required for capturing, storing and analyzing greater amount of customer data. But, by making this a part of the future customer relationship management strategies, banks will be better placed to keep pace with the demands of their customers, take on the competitors and to grow profitability in the years to come.
© 2008 IUP . All Rights Reserved
STRATEGY
Capital Account Convertibility : Boosting Economic Growth
-- Dr. S N Ghosal
Capital Account Convertibility (CAC) could result in more entrenched public-private partnership in India. There could be a competitive exchange rate policy and boost to trade sectors. All these factors are favorable for growth in Indian banking system. CAC differs in degree from country to country; while external funds are important for economic growth, there are issues like liquidity, exchange rate and interest rates associated with CAC. What is vital is the effective utilization of these funds with the right strategies.
©2008 IUP . All Rights Reserved
MICROFINANCE
Self-Help Groups-Bank Linkage - Impact Assessment, Empowerment and Sustainability of Microfinance : A Study
-- Dr. A Sarangapani and T Mamatha
Successful microfinancing needs liaison with banks and voluntary organizations like self-help groups. Microfinance leads to empowerment and emancipation. However, the critical issue is sustaining empowerment with a strong emphasis on technology and skill development.
© 2008 IUP . All Rights Reserved
MICROFINANCE
Unleashing the Power of Self-Help : Story of World's Largest Microfinance Program
-- Prema Ramachandran
Self-help groups create significant social impact. It is a social mobilization process of the poor for economic uplift and not merely a bank loan-enabler. Its success depends on unified action on the part of various stakeholders. This endeavour should result in comprehensive financing of target group for more effective performance.
©2008 IUP . All Rights Reserved
FARM CREDIT
Agricultural Credit Systems in India : An Assessment
-- Dr. Rajib Kumar Das
Agricultural credit system is a difficult task to handle. The purpose of this system is to improve the general health of Indian agriculture. Measures like rescheduling of loans, waiving of loans due to crop loss, cyclical credit as well as launching of credit counseling centers, crop insurance, price risk mitigation systems, etc., are aimed to improve the general health of indian agriculture. The government must take decisive action to counter the challenge of inflation and rise of oil prices to safeguard Indian agriculture.
©2008 IUP . All Rights Reserved
INTERNATIONAL BANKING
London Interbank Offered Rate : Latest Prey of Credit Crunch
-- P S Sarath Chandra
The ongoing global credit crunch has battered the London Interbank Offered Rate (Libor) and exposed loopholes in the method used to determine it. As analysts feel that Libor rates are not accurately mirroring the tight credit conditions, the British Bankers' Association (BBA) has performed a review of the system. Finally, BBA has declared that the system, which supports mortgage, bond and derivative contracts around the world will not be altered in spite of the rising concern about its credibility.
© 2008 P S Sarath Chandra. All Rights Reserved.
INTERNATIONAL BANKING
Northern Rock Bank : Collapse and Fallout
-- D Satish
The collapse and nationalization of the Northern Rock Bank by the UK government has opened up many debatable questions while highlighting the UK and the European financial systems. The crisis in this bank is an offshoot of the subprime crisis in the US. The nationalization of the bank brings into focus the eternal debate of moral hazard and protectionism.
©2008 IUP . All Rights Reserved
MARKETING
Marketing Structures of Banks in India
-- V V Ravi Kumar
With the advent of new generation banks in mid-1990s followed by the technological innovations such as Automated Teller Machines (ATMs), Internet banking, phone banking there is a sea change in the banking system. Today, bankers are asked to play the role of a salesman peddling various products and services across the entire financial spectrum. Competition has compelled the banks to create some sort of a marketing structure. This article takes a look at this interesting phenomenon.
©2008 IUP . All Rights Reserved
CREDIT MANAGEMENT
SME Sector : Different Dimensions
-- Dr. Hareram Mohanty
The small and medium enterprise sector does not have a uniform definition globally. In the Indian context, its scope has evolved over a period of time to encompass micro, small and medium-scale enterprises.
© 2008 IUP . All Rights Reserved
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