Awareness Fridays: [Update] Guidelines on Detection and Impounding of Counterfeit Notes at Indian Banks

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On the subject of detection and impounding of counterfeit notes by banks operating in India, the Reserve Bank of India notes that, Complaints are being received from the public that while impounding a counterfeit note, the tenderer is not informed the reasons for deeming a note as counterfeit. It is therefore advised that the format […]

Awareness Fridays: A Guide to the Indian Banking Ombudsman Scheme

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The Reserve Bank of India also governs the Banking Ombudsman Scheme which provides an “expeditious and inexpensive forum to bank customers for resolution of their complaints relating to banking services.” The objective of the Banking Ombudsman Scheme is to be a visible and reliable system of dispute resolution mechanism for bank customers. Though the Ombudsman […]

Awareness Fridays: Easy Reading — Mitigating Spillovers and Contagion Lessons from the Global Financial Crisis

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Today’s topic is an easy to understand and informative read for the weekend. It’s a speech delivered by Dr. D. Subbarao, Governor, Reserve Bank of India at the RBI-BIS Seminar on “Mitigating Spillovers and Contagion – Lessons from the Global Financial Crisis” (click to download) at Hyderabad earlier this month. Of significance is this quote […]

Why It’s a Good Idea to Save Regularly for Your Annual Expenses and How to Go About Doing That?

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Each month we’re so caught up in managing our day to day expenses that we tend to lose focus on our annual expenses. Generally speaking, any expense that you pay for once a year counts as an annual expense. Typical examples are insurance payments, property tax payments, maintenance contracts, and such. We tend to lose […]

Awareness Fridays: Guidelines for Exchanging Mutilated Currency Notes at Indian Banks

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We’ve all had our fair share of receiving torn or soiled currency notes. Sometimes banks refuse to exchange these notes and we’re left fuming since we’ve no idea what the rules are with respect to exchange of such notes. Thankfully, the Reserve Bank of India has published guidelines for exchanging such currency. Click here to […]

Awareness Fridays: Guidelines for Credit Card Operations of Indian Banks

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Reader Shankar asks, Is there any Master Circular issued by the Reserve Bank of India on Credit Cards issued by Indian Banks? There certainly is: Download the Master Circular on Credit Card Operations of Indian Banks. Download an update to the Master Circular. There’s some pretty useful information in these documents. Again, take some time […]

Awareness Fridays: Guidelines for Customer Service in Indian Banks

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The Reserve Bank of India time and again issues various instructions/guidelines in the area of customer service to bring about improvements in the quality of customer service in banks and their branches. But whether banks actually implement these guidelines is a different matter altogether. As bank customers, however, it’s prudent on our part to know […]

Learn Corporate Finance Online

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One of the best resources I have ever found on the Internet is the Corporate Finance lecture webcast by Aswath Damodaran, a Professor of Finance and David Margolis Teaching Fellow at the Stern School of Business at New York University. I had Financial Management as part of my curriculum and it was one of my […]