RBI RELEASES ‘A PROFILE OF BANKS 2008-09’

The Reserve Bank of India has released ‘A Profile of Banks 2008-09’ fifth volume in the series. According to its release, it provides bank-wise data on important performance indicators of all scheduled commercial banks, excluding regional rural banks, for the years 2004-05 to 2008-09.
The publication,provides bank-wise data on important performance indicators of all scheduled commercial banks, excluding regional rural banks, for the years 2004-05 to 2008-09. The publication covers 18 important indicators like return on assets, CRAR and business per employee.  The analysis shows the profitability of all scheduled commercial banks at aggregate level improved in 2008-09.  At bank group level, while return on assets of SBI & its associates and nationalised banks improved, return on assets of other scheduled commercial banks and foreign banks declined in 2008-09.  Net NPA ratio of nationalised banks at bank group level declined in 2008-09.  CRAR of all the bank groups increased in 2008-09, exhibiting strong capital base of Indian banking sector.  Average number of employees of all banks increased in 2008-09. THE RESERVE BANK OF INDIA, CELEBRATING PLATINUM JUBILEE. RBI Selects
To celebrate its Platinum Jubilee, the Reserve Bank of India’s Jammu and Kashmir branch had to cross the world’s highest motorable road in the Ladakh region as it selected Hunder village to mark the occasion. The officers interacted with a cross-section of the people to make them aware about banking at large. Hunder village in Ladakh to mark the occasion to organise outreach events The RBI, which began its operations on April 1, 1935, will be completing its 75 years of existence on April 1, 2010, marking a major milestone in the history of the bank. Just a few kilometers downstream from the confluence of river Siachin and river Shyok, village Hunder in Nubra valley in Ladakh is located at a distance of 125 km from Leh town and across Khadungla Pass which, at 18,380 feet, is the highest motorable pass in the world. BP DRILLS WORLD’S DEEPEST OIL WELL BP, Europe’s second-largest oil company, reported a "giant" discovery at
The latest discovery will help BP, already the biggest producer in the Gulf of Mexico, boost output in the region by 50% to 600,000 barrels of oil equivalent a day after 2020. It’s equal to about a year’s output from
WORLD BANK CLEARS $4.3 BN LOAN TO INDIA The World Bank will extend $4.3 billion loan to four projects, including $2 billion for recapitalisation of public sector banks.
The assistance would bolster infrastructure investments, enable public sector banks to expand credit, and strengthen power transmission networks to meet the growing demand, said a World Bank release.
The four loans, approved by the World Bank’s executive board include $2 billion to enhance banks’ capital, $1.2 billion to infrastructure financing company IIFCL, $1 billion to help address power deficiency, and $150 million to improve water supply in Andhra Pradesh.
The multilateral lending agency said the development policy loans have no conditions attached and would be disbursed in a single tranche after January 1, 2010, unless the Indian government prefers in instalments.
The World Bank’s $2 billion Banking sector support loan, with a 30-year maturity, would help India’s select public sector banks expand credit. The loan will be given to banks like Oriental Bank of Commerce, Punjab National Bank, Dena Bank, UCO bank and United bank of India to recapitalise them through infusion of capitals.
Preferring to call it "injection of capital" instead of "recapitalisation" as the latter could mean banks are short of capital.
A 28-year loan of $1.195 billion has been granted to the India Infrastructure Finance Co Ltd (IIFCL) to help India achieve its vast infrastructure agenda on roads, railways, ports, airports, communication and power sectors. STATES PERMITTED TO BUY POWER FROM MEGA UNITS  In an effort to attract private investment in the power sector, the Union Cabinet made major changes in the Mega Power Policy under which States controlling the power distribution system would be allowed to purchase power from mega power units in a bid to encourage such projects.  The Cabinet also decided to remove the condition requiring inter-State sale of power for getting mega power status. Earlier, only those projects which had inter-state power sale agreements were granted mega power status. The Cabinet also decided to extend the benefits of mega power policy to the supercritical power projects to be awarded through the international competitive bidding (ICB) route with the mandatory condition of setting up indigenous manufacturing facility.  Providing a level-playing field to private players, the government also mandated in the policy that the 15 per cent price preference available to the domestic bidders in the case of PSU projects would not apply to tariff-based competitive bid projects of these State-run companies. However, the present dispensation of 15 per cent price preference available to the domestic bidders in the case of PSU projects would continue. 
Under the policy, existing power projects have been allowed to import equipment for brownfield expansion at a basic custom duty of 2.5 per cent. Such expansion of existing projects would enjoy all other benefits available to greenfield mega power projects. the Tiber Prospect in the US Gulf of Mexico that may contain more than 3 billion barrels, after drilling the world’s deepest exploration well. The well is located about 250 miles (400 kilometers) southeast of Houston, It was drilled to approximately 35,055 feet (10,685 meters), greater than the height of Mount Everest. Saudi Arabia, the biggest exporter in the Organization of Petroleum Exporting Countries, as well as coming close to matching the UK’s entire proven reserves.