Bulletin 16 - 01

Issue 13 by 31
02/01/2016
KURINJI
E - BULLETIN
STAFF TRAINING COLLEGE, CHENNAI
Issue
No:
AN E-COMPILATION OF BANKING
16/01 ARTICLES
Saturday, August 03, 2013
Bank of India Staff Training College, Chennai Issue No.16/01
Phone: 044-28132731, 28130896, 28133815 e- mail Id: stcchennai@bankofindia.co.in (For Private Circulation Only)
Kurinji
Team STC Chennai wishes a Happy New Year to all our Readers.
In this New Year Issue, our weekly E-Bulletin is being christened Kurinji, a
rare flower that grows in the shola grasslands of South India. The
Nilgiris, which literally means the blue mountains, got its name from the
purplish blue flowers of Kurinji that blossoms gregariously once in 12
years.
We, at STC Chennai, hope to provide our readers through Kurinji, a unique
experience of acquainting themselves with the current news/articles in
the area of Banking, Finance and Information Technology. While savouring
banker’s view through “Mind Voice”, our readers can benefit from the
various “Health Tips” being offered and be inspired by the “Let us Learn”
section.
So enjoy this week’s Kurinji in your Inbox
Saturday, January 02, 2016 Page 2 of 20

Foreword
At the outset, we take this opportunity of extending our choicest wishes

for a happy, prosperous, fulfilling and blessed New Year 2016 to you all.
We pray God to give success to you in all your endeavours on personal and
professional fronts.
On professional front, the year begins with the newer challenges emerging
before us. These challenges can be met, if our team members at all level
have full awareness as to “what” is to be done, “how” it is to be done and
“why” it is to be done.
It is in this context that our training establishments are required to be

real learning centres for all cadres of employees, imparting them requisite
knowledge, honing their skill sets and re-orient their attitudes. We are
fully seized of this role and the instant effort of coming out with this E-
Bulletin (which has been christened “Kurinji” from this issue) is our modest
but focussed initiative in the direction of providing our people a ready
access and insight into the critical & topical topics, which have been in the
news.
Your feedback & comments on its utility are welcomed and will enable us to
improve upon the publication.
K. N. Mann,
DGM & Prinicpal
Staff Training College
Chennai.

E - Bulletin
(For Private Circulation only)
Index
BANKING & FINANCE.................................................................................................................................... 5
BANKS’ RECOVERY UP FIVEFOLD TO RS 1.15 LAKH CR................................................................................................ 5
VILLAGE OVER 5,000 RESIDENTS TO HAVE BANK BRANCHES BY MARCH 2017.................................................................6
BANK CREDIT: PERSONAL LOANS ROSE 18% IN NOVEMBER......................................................................................... 7
ECONOMY & POLICY..................................................................................................................................... 9
FISCAL DEFICIT TARGET FOR FY17 'CHALLENGING'..................................................................................................... 9
RUPEE AMONG BEST OF ASIAN CURRENCIES IN 2015.............................................................................................. 10
MISCELLANEOUS........................................................................................................................................ 12
USE ₹2,000-CR FINANCIAL INCLUSION FUND TO SET UP MORE ATMS, SAYS RBI PANEL..................................................12
RBI TELLS BANKS TO REPLACE DEFECTIVE 1,000-RUPEE NOTES...................................................................................13
INFORMATION TECHNOLOGY..................................................................................................................... 15
NEW SYSTEM FOR MORE SECURE ONLINE BANKING.................................................................................................. 15
MIND VOICE............................................................................................................................................... 17
IT’S YOU, WHO MATTERS................................................................................................................................. 17
HEALTH...................................................................................................................................................... 18
TURN ON INNER SUNSHINE................................................................................................................................ 18
LET US LEARN……........................................................................................................................................ 20

BANKING & FINANCE
Banks’ recovery up fivefold to Rs 1.15 lakh cr
Banks recovered a total of Rs 1.15 lakh crore in FY15, an increase of nearly

5 times from the amount recovered in the previous fiscal, RBI data
revealed. The primary reason for such a rise was a six-times jump in the
number of cases filed and the total amount claimed rose almost five times
to Rs 4.70 lakh crore.
Cases filed under the Securitisation and Reconstruction of Financial

Assets and Enforcement of Security Interest (SARFAESI) Act and those
filed with the Debt Recovery Tribunal (DRT) rose over six times each year
on year. Cases filed with Lok Adalats increased more than five times.
Gross non-performing assets (NPA) continued to rise, with gross NPA ratio
rising 50 basis points year on year to 4.60% in FY15. Slippages came in at
3%, 10 basis points lower than in FY14, marking the first year-on-year fall
in the slippages ratio since FY07.
“We would probably need to wait for another year to confirm this trend
though activity levels are improving on the ground. Another way to confirm
this hypothesis is to look at the quality of slippages,” Kotak Institutional
Equities said in a report.
The data showed that there has been a consistent rise in the share of
restructured loans in total slippages since FY13. Also, share of non-
restructured loans in total slippages remained nearly flat year on year in
FY15.

Source: The Financial Express
Village over 5,000 residents to have bank branches by March

2017
Reserve Bank has said that every village with a population over 5,000
should have a bank branch by March 2017 and asked the SLBC’s to identify
such villages without a bank branch in their state.
Earlier in 2012, State Level Bankers’ Committee (SLBC) Convenors were

asked to prepare a roadmap to provide banking services in all unbanked
villages with population less than 2,000.
For increasing bank penetration and financial inclusion, brick and mortar
branches are an integral component, RBI said in a notification, and said it
has decided to focus on villages with population above 5,000 without a
bank branch of a scheduled commercial bank.
“Accordingly, SLBC Convener banks are advised to identify villages with

population above 5,000 without a bank branch of a scheduled commercial
bank in their state.
“The opening of bank branches under this Roadmap should be completed by

March 31, 2017,” RBI said.

SLBC Convenor Banks may accord top priority to this roadmap and ensure
completion of allotment of villages within the prescribed timelines, it
added.
The identified villages may be allotted among scheduled commercial banks,

including regional rural banks, for opening of branches, RBI said.
The apex bank said opening open of bank branches in such villages will also
enable banks to provide quality financial services and timely support to
Business Correspondent outlets.
It would help in sustaining and strengthening services provided through

BCs and also ensure close supervision of BC operations, RBI said.
The SLBCs, in 2013, were further asked to review the roadmap and
increase the proportion of branches for covering unbanked villages alloted
to them so that about 5 per cent of the unbanked villages identified in a
state were covered through branch mode.
Further, keeping in view the implementation of Pradhan Mantri Jan Dhan

Yojana, SLBC Convenor banks and lead banks were advised to complete the
process of providing banking services in unbanked villages with population
below 2,000 by August 14, 2015.
However, RBI said that it was observed that the coverage of banking
services in unbanked villages was skewed towards BC model and the ratio
of branches to BC is very low.
RBI has further asked the SLBCs to submit the finalised roadmap with
details of allocated villages to various banks by January 31, 2016.
Source: The Business Line
Bank credit: personal loans rose 18% in November
Personal loans, including housing, advances to individuals against shares and

credit cards, showed a robust year-on-year growth in November even as
the overall non-food credit growth, comprising loans to agriculture,
industry and services, decelerated.

Personal loans increased 18 per cent in November 2015, up from 15.8 per
cent in November 2014, according to RBI data on deployment of bank
credit.
Under the personal loans category, housing loans showed a year-on-year

growth of 18.6 per cent (16.5 per cent in November 2014), advances to
individuals against shares were up by 78.3 per cent (36.3 per cent), and
outstanding against credit cards increased 27.7 per cent (22.1 per cent).
Credit to agriculture and allied activities rose 11.8 per cent in November
compared with 19.7 per cent a year ago.
Credit to industry increased 5 per cent in November (7.3 per cent in

November 2014). Deceleration in credit growth to industry was observed
in all major sub-sectors, barring chemical and chemical products and basic
metal and metal products.
Credit to the services sector increased 6.8 per cent against 7.9 per cent
in November 2014.
Source: Business Line

ECONOMY & POLICY
Fiscal deficit target for FY17 'challenging'
The government is committed to meet the fiscal deficit target of not

exceeding 3.9 per cent of gross domestic product for 2015-16, although
that of 3.5 per cent for 2016-17 looks ‘challenging’ unless the pace of
revenue collection rises, a senior finance ministry official said.
Earlier this month, the official mid-year economic analysis struck a note of
caution by saying there was a case for re-assessment of the medium-term
fiscal consolidation road map. This, it said, was due to additional spending
due to the recommendations of the pay commission and the higher pension
payout for former military personnel next year.
The revised estimate for total tax revenue is likely to be Rs 25,000 crore
less than the budget estimate of Rs 14.5 lakh crore, the official, who did
not want to be identified, told reporters. Adding that the government was
exploring options to secure higher dividend payment from state-run
companies.
In the April-November period, first eight months of the financial year,

indirect tax revenue was Rs 4.38 lakh crore or 67.8 per cent of the full-
year aim of Rs 6.46 lakh crore. Direct tax revenue in that period was Rs
3.69 lakh crore or 46.3 per cent of the full-year target. Revenue from
disinvestment might also be short of the full-year aim of Rs 69,500 crore,
by about Rs 50,000 crore, the official said.
The government has so far raised only Rs 12,600 crore through

disinvestment, after having budgeted at the year's start for Rs 28,500
crore from strategic stake sales and Rs 41,000 crore from selling equity in
state-run companies.
It is likely to, while setting 2016-17's budget goals, estimate crude oil
prices below $50 a barrel, the official added. This financial year's budget
estimate is based on $70 a barrel. The benchmark Brent crude oil
contract was trading on Wednesday at $36.99 a barrel. Low oil prices are

helping push economic growth through public investment, Finance Minister

Arun Jaitley said.
The government will include Rs 5,000 crore for bank recapitalisation in the
next supplementary set of demands before Parliament, the official also
said. This part of Rs 70,000 crore of capital infusion planned over four
years for government-owned banks.
Source: Business Standard
Rupee among best of Asian currencies in 2015

Rupee turned out to be one of the best performers in 2015 among all Asian
and BRICS currencies, excluding yen.
The currency’s depreciation of about five per cent against the dollar was
less than the losses of most of its other Asian peers. The Indian rupee
fared better in 2014, when it weakened by only two per cent.
“The Indian rupee was caught between the leviathans like the U.S. dollar
and China’s yuan devaluation and the erosion of rupee against the dollar
continued relentlessly in 2015,” said Sugandha Sachdeva, currency
strategist, Religare Secuitries.
However, the rupee fared much better despite a pullout by foreign funds
from the emerging markets, including India, as an interest rate hike was
expected from the U.S. Federal Reserve.
The currency was stable when the U.S. raised the benchmark interest rate
and has actually strengthened against the dollar since then.
Its Asian counterparts like the Indonesian rupiah weakened by 11.30 per
cent and the Thai baht depreciated 9.5 per cent against the dollar. Only
the Chinese currency fared marginally better, losing only 4.6 per cent.
BRICS nations
Among the BRICS nations also the Indian currency fared well. The
Brazilian real depreciated 49 per cent against the dollar while the South
African rand declined 34.75 per cent.

The Indian currency, which tumbled 12.4 per cent in 2013, started
recovering in 2014.
Experts attribute the relative stability of the rupee to the improved

macro-economic conditions.
“This has resulted from the RBI recouping foreign exchange reserves
from the day Raghuram Rajan took over as governor of the central bank,”
said Indranil Sengupta, chief economist, Bank of America Merrill Lynch.
“He had announced a host of measures like FCNR-B deposits to attract
inflows.”
Forex reserves
The country’s foreign exchange reserves rose by more than $75 billion
since the currency crisis of 2013. From about $274.8 billion in early
September 2013, foreign exchange reserves rose to $351 billion as on 25
December, 2015.
In the two and half year since the currency crisis, the twin deficits –
fiscal and current account - have narrowed. In 2013-14, the fiscal deficit
was 4.5 per cent of the GDP, which is now seen at 3.9 per cent for 2015-
16.
Similarly, the current account deficit in the first quarter of 2013-14

zoomed to a record high of 4.9 per cent of the GDP. CAD has since
narrowed to 1.6 per cent of GDP during the July-September quarter of
the current financial year and is expected to be 1 per cent of GDP in 2015-
16, mainly due to soft crude oil prices.
Going into 2016, the rupee might gain initially, but is likely to weaken as
the year progresses.
“From the technical standpoint, we expect the rupee to strengthen

towards 65- 64.50 in the early part of 2016,” Mr. Sachdeva of Religare
Securities said.
“But later we expect the rupee to depreciate up to 69 levels as we

progress in 2016.” The rupee ended 2015 at 66.15 a dollar.
Source: The Hindu

MISCELLANEOUS
Use ₹2,000-cr financial inclusion fund to set up more ATMs,

says RBI panel
In view of the low penetration of ATMs in rural and semi-urban centres, a

Reserve Bank of India panel has recommended that the ₹2,000 crore
Financial Inclusion Fund should be utilised to encourage installation of
ATMs in these centres.
The RBI’s committee on medium-term path on financial inclusion observed

that as of 2014 there were only 18 ATMs per one lakh adult population in
India against over 65 in South Africa and over 180 in Russia.
The objective of FIF, which is managed by the National Bank for

Agriculture and Rural Development, is to support “developmental and
promotional activities” including creating financial inclusion (FI)
infrastructure across the country, capacity building of stakeholders,
creating awareness to address demand-side issues.
The Committee, headed by Deepak Mohanty, Executive Director, RBI, is of

the view that installing more ATMs in rural and semi-urban centres will
create more touch points for customers. As at October-end 2015, there
were 1,90,827 ATMs in the country.
Micro ATMs
The Committee recommended that interoperability of micro ATMs should

be allowed to facilitate the usage of cards by customers in semi-urban and
rural areas across any bank micro ATM and Business Correspondent (BC).
For this, connectivity of micro ATMs to the National Financial Switch
should be enabled. Adequate checks and balances should be put in place to
ensure customer protection and system safeguards.
Micro ATMs are handheld devices (usually operated by BCs) that allow
customers to perform basic financial transactions using only their Aadhaar
number and their biometric/OTP as identity proof (along with a Bank
Identification Number for inter-bank transactions).

Unlike an ATM, the cash-in/cash-out functions of the micro ATM are

performed by an operator. These devices support transactions such as
deposit, cash withdrawal, funds transfer and balance enquiry. A BC is
appointed by a bank and provides access to basic banking services using
the micro ATM.
The panel felt that although a quantum jump in banking access has taken
place, a significant element of regional exclusion persists for various
reasons that need to be addressed by stepping up the inclusion drive in
the north-eastern, eastern and central States to achieve near-universal
access.
This may entail a change in banks’ traditional business model through

greater reliance on mobile technology for ‘last mile’ service delivery.
RBI tells banks to replace defective 1,000-rupee notes

Out of 300 million defective banknotes that were printed in one of the
printing presses of government-owned Security Printing and Minting
Corporation of India, about 100 million of those notes have hit the market
leaving the general public in a tizzy.
About 200 million pieces were transferred to the RBI’s currency chests,
some of which was then loaded in banks’ automated teller machines,
sources close to the development said.
Currency experts said that the checking of notes is done at the press-
level and the banking regulator is not involved with checking each and
every banknote.
An RBI spokesperson has confirmed the development and said banks have
been asked to replace such notes with the central bank, when found. Banks
have also been advised to replace such notes whenever a customer
approaches them. The notes are genuine though they are defective, the
spokesperson said.

There are four printing presses which print and supply banknotes. These
are at Dewas in Madhya Pradesh, Nasik in Maharashtra, Mysore in
Karnataka, and Salboni in West Bengal.
The presses in Devas and Nasik are owned by the Security Printing and
Minting Corporation of India (SPMCIL), a wholly owned company of the
Government of India. The printing of the notes in Karnataka and West
Bengal are done by the Bharatiya Reserve Bank Note Mudran Private
Limited (BRBNMPL), a wholly owned subsidiary of RBI.
Sources said the defected notes were printed in the Nashik press while
Security Paper Mill of Hoshangabad produced the currency note paper.
The security thread was missing in the defective pieces, the sources said.
The 1000-rupee notes which was introduced in October 2000, contain a
readable, windowed security thread alternately visible on the obverse with
the inscriptions ‘Bharat’ (in Hindi), ‘1000’ and ‘RBI’, but totally embedded
on the reverse.
As on March 31, 2015, there were 5,612 million Rs 1000 denominated notes
in circulation which constitutes 6.7 per cent of the total notes in
circulation. In terms of value, Rs 1000 denominated notes constituted 39.3
per cent of the total value of notes in circulation.
Notes of denominations of Rs 500 and Rs 1,000 together accounted for

approximately 85 per cent of the total value of banknotes in circulation at
end- March 2015. Notes of Rs 10 and Rs 100 together accounted for 54
per cent of the volume at end- March 2015, RBI data shows.
Source: The Hindu

INFORMATION TECHNOLOGY
New system for more secure online banking
A new system that uses images and a one-time numerical code may provide
a secure, inexpensive and easy to use alternative to current password
systems used in online banking and other such services, a new study
suggests.
Researchers at the Plymouth University in UK believe their new multi-level

authentication system GOTPass can be effective in protecting personal
online information from hackers.
It could also be easier for users to remember, and be less expensive for
providers to implement since it would not require the deployment of
potentially costly hardware systems. Researchers say the system would be
applicable for online banking and other such services, where users with
several accounts would struggle to carry around multiple devices, to gain
access.
They also publish the results of a series of security tests, demonstrating

that out of 690 hacking attempts — using a range of guesswork and more
targeted methods — there were just 23 successful break-ins.
“Traditional passwords are undoubtedly very usable but regardless of how

safe people might feel their information is, the password’s vulnerability is
well known,” said PhD student Hussain Alsaiari, who led the study.
“There are alternative systems out there, but they are either very costly
or have deployment constraints which mean they can be difficult to
integrate with existing systems while maintaining user consensus.”
How it works
To set up the GOTPass system, users would have to choose a unique

username and draw any shape on a 4x4 unlock pattern, similar to that
already used on mobile devices.

They will then be assigned four random themes, being prompted to select
one image from 30 in each.
When they subsequently log in to their account, the user would enter their
username and draw the pattern lock, with the next screen containing a
series of 16 images, among which are two of their selected images, six
associated distractors and eight random decoys.
Correctly identifying the two images would lead to the generated eight-
digit random code located on the top or left edges of the login panel which
the user would then need to type in to gain access to their information.
Initial tests have shown the system to be easy to remember for users,
while security analysis showed just eight of the 690 attempted hackings
were genuinely successful, with a further 15 achieved through coincidence.
The study was published in Information Security Journal: A Global

Perspective.

MIND VOICE
It’s YOU, who matters
One day all the employees of a company reached the office and saw a big
advice written on the door.
"Yesterday the person who has been stopping your growth in this company
passed away. You are invited to join the funeral."
In the beginning, they got sad for the death of one of their colleagues,
but after a while they got curious to know who the man, who stopped their
growth was. Everyone thought: 'Well at least the man who stopped my
progress died!'
One by one the thrilled employees got closer to the coffin, and when they
looked inside they were speechless. They stood shocked in silence, as if
someone had touched the deepest part of their soul. There was a mirror
inside the coffin and everyone who looked inside could see him/herself.
There was a sign next to the mirror that read: "There is only one person
who is capable to set limits to your growth...It is you. You are the only
person who can influence your happiness, success and realization."
Your life does not change when your boss, friend or company changes.....
Your life changes when you change...
You go beyond your limiting beliefs and you realize you are the only one
responsible for your life.
It's the way you face life that makes the difference!
If an egg is broken from outside force, life ends
But if it is broken from inside force, life begins.
Great things always begin from our inside!!
Shared by: Shri. Kavindra Nath Mann, DGM & Principal, STC Chennai
HEALTH
Turn on inner sunshine
Quite often one hears people complain
“I often feel exhausted, sad and sleepy. My whole body becomes stiff
and aches as if I’m in for the ‘flu. Occasionally I feel hungry all day.
Is there any explanation for these symptoms? What can I do to
prevent them? Though I’m 45, at times, I feel 60! “
Hey, stop worrying, start relaxing! Next, decide: “I’ll live in fitness and
health and feel 45 at 60!” Then act on this decision one wise step at a
time:
Sun-bathe daily. Soak up the morning sunshine for half hour to ensure that
the sleep hormone melatonin’s levels lower. After lunch, stroll in the sun
for 10-15 minutes.
Drink 1.5 litres water to rehydrate stiff muscles. Additionally, in winter

have hot soups and rasam; in summer, cucumber soups and fresh lime
sherbet with a pinch of salt.
Eat a banana to raise the calming chemical serotonin’s level. A few nuts
also help dispel sadness and hunger pangs. Eat whole fresh food, don’t
overeat, and enjoy eating. Eating leisurely and peacefully promotes a sense
of wellbeing. Please put wholesome food, not distasteful topics, in your
mouth at meal-times.

Get your blood circulation pumping. Jog on the spot for 20 minutes. Play
badminton every evening. ‘Dance with the stars’ instead of just watching
TV. With oxygen freshening your every tissue, you can never get winter
blues or summer blahs.
Dress warm in winter. That subtle nip in the air can get into muscle and
bone, and make you sleepy. In summer, don light clothing and have cool
baths. Heat can cause sleepiness too.
Sleep restfully for eight hours. Listen to soothing instrumental music while
lying down. With your palm do slow circular motions over your heart to
promote peace and harmony. Always sleep on soft feelings of contentment.
Read 10-20 positive and funny quotes each day. Ah yes, inner sunny-ness is
as vital as external sunlight for a happy, healthy life. Smile-a-while: You’re
not 45. You’re 18 with 27 years of experience.
LET US LEARN……..


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Issue 13 by 31

STAFF TRAINING COLLEGE, CHENNAI

So enjoy this week’s Kurinji in your Inbox

Saturday, January 02, 2016 Page 2 of 20

At the outset, we take this opportunity of extending our choicest wishes

It is in this context that our training establishments are required to be

Saturday, January 02, 2016 Page 3 of 20

Saturday, January 02, 2016 Page 4 of 20

BANKING & FINANCE

Banks’ recovery up fivefold to Rs 1.15 lakh cr

Banks recovered a total of Rs 1.15 lakh crore in FY15, an increase of nearly

Cases filed under the Securitisation and Reconstruction of Financial

Saturday, January 02, 2016 Page 5 of 20

Source: The Financial Express

Village over 5,000 residents to have bank branches by March

Earlier in 2012, State Level Bankers’ Committee (SLBC) Convenors were

“Accordingly, SLBC Convener banks are advised to identify villages with

“The opening of bank branches under this Roadmap should be completed by

Saturday, January 02, 2016 Page 6 of 20

The identified villages may be allotted among scheduled commercial banks,

It would help in sustaining and strengthening services provided through

Further, keeping in view the implementation of Pradhan Mantri Jan Dhan

Source: The Business Line

Bank credit: personal loans rose 18% in November

Personal loans, including housing, advances to individuals against shares and

Saturday, January 02, 2016 Page 7 of 20

Under the personal loans category, housing loans showed a year-on-year

Credit to industry increased 5 per cent in November (7.3 per cent in

Source: Business Line

Saturday, January 02, 2016 Page 8 of 20

ECONOMY & POLICY

Fiscal deficit target for FY17 'challenging'

The government is committed to meet the fiscal deficit target of not

In the April-November period, first eight months of the financial year,

The government has so far raised only Rs 12,600 crore through

Saturday, January 02, 2016 Page 9 of 20

helping push economic growth through public investment, Finance Minister

Source: Business Standard

Rupee among best of Asian currencies in 2015

Saturday, January 02, 2016 Page 10 of 20

Experts attribute the relative stability of the rupee to the improved

Similarly, the current account deficit in the first quarter of 2013-14

“From the technical standpoint, we expect the rupee to strengthen

“But later we expect the rupee to depreciate up to 69 levels as we

Source: The Hindu

Use ₹2,000-cr financial inclusion fund to set up more ATMs,

In view of the low penetration of ATMs in rural and semi-urban centres, a

The RBI’s committee on medium-term path on financial inclusion observed

The objective of FIF, which is managed by the National Bank for

The Committee, headed by Deepak Mohanty, Executive Director, RBI, is of

The Committee recommended that interoperability of micro ATMs should

Saturday, January 02, 2016 Page 12 of 20

Unlike an ATM, the cash-in/cash-out functions of the micro ATM are

This may entail a change in banks’ traditional business model through

Source: The Business Line

RBI tells banks to replace defective 1,000-rupee notes

Saturday, January 02, 2016 Page 13 of 20

Notes of denominations of Rs 500 and Rs 1,000 together accounted for

Source: The Hindu

Saturday, January 02, 2016 Page 14 of 20

New system for more secure online banking

Researchers at the Plymouth University in UK believe their new multi-level

They also publish the results of a series of security tests, demonstrating