tailieunhanh - Savings bank accounts- ‘interest’ing issues 

Hence, all else equal, one could expect global retail banks to have a preference for subsidiarization, while global universal banks for branching. 11 The subsidiary structure may work well for retail banks, as it may benefit from a local management team that is fully accountable for the performance of an affiliate focused on local retail operations. There is a benefit to a management team that has a deep understanding of the local market and a greater ability to obtain local funding. On the other hand, the subsidiary structure may be less suitable for universal and investment banks because it could constrain. | Savings bank accounts- interesting issues Ashish Das Division of Theoretical Statistics and Mathematics Indian Statistical Institute New Delhi 110016 and Department of Statistics The University of Akron Akron Ohio 44325 Abstract India s present method of computing interest on savings bank accounts has an effective yield much below the declared rate of interest. The method which was adopted during the pre-computer era has continued much after computerization of the banks. An alternative method is suggested which keeps the yield at par with the declared rate of interest. A trend analysis of the savings deposit interest rate vis-à-vis other rates like PLR term deposit interest rates repo reverse repo rates and CRR indicates that it is time to take corrective measures and increase the rate of interest on savings bank accounts. Finally some related issues are analysed and remarks made. 1. Introduction As on March 2005 the scheduled commercial banks held a staggering 320 million savings bank accounts attributing to 69 of total number of different types current savings and term of deposit accounts and majority of such depositors are by and large small holders. The manner of calculating interest on savings bank deposits is such that it ignores the interests of the depositors and facilitates hidden access of cheap money to the banks. Ms. Kishori J. Udeshi Chairperson Banking Codes and Standards Board of India BCSBI recently raised the issue once again in her lecture Protecting the Banking Rights of the Common Man at the World Consumer Day 2007 function. An excerpt from her lecture is as quoted below. According to statistics published in the RBI Bulletin July 2006 as on 31st March 2005 Savings Bank deposits amounted to 147 crore forming 26 per cent of total deposits of scheduled commercial banks. The savings bank deposits of individuals amounted to 869 crore or 77 per cent of the total savings bank deposits. These savings bank deposits are remunerated at .

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