Page-40 of Economy & Banking Current Affairs

RBI Mandates Minimum Two Whole-Time Directors for Indian Banks

October 26, 2023

The Reserve Bank of India (RBI) has introduced a crucial requirement for Indian banks, stating that they must now have a minimum of two whole-time directors (WTDs) on their boards. This mandate extends to the Managing Director and Chief Executive ..

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India’s Macroeconomic Resilience Amid Global Uncertainty

October 20, 2023

Amidst global uncertainty, India is gaining momentum in its economic performance, thanks to easing inflation and a stable rupee. The Reserve Bank of India (RBI) highlighted these positive trends in its October bulletin, signaling a robust macroeconomic foundation. Easing Inflation ..

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G20 Expert Panel’s Recommendations on Reforming MDBs

October 20, 2023

A G20 expert panel dedicated to strengthening Multilateral Development Banks (MDBs) has urged these institutions to pivot from financing individual projects to prioritizing sectoral programs aligned with long-term transformation plans proposed by national governments. This strategic shift aims to enhance ..

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UNCTAD Increases India’s 2023 Growth Forecast to 6.6%

October 5, 2023

The United Nations Conference on Trade and Development (UNCTAD) has raised India’s economic growth forecast for 2023 to 6.6%, up from the 6% predicted earlier. However, it anticipates a slight slowdown to 6.2% growth in 2024. Global Economic Outlook UNCTAD ..

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RBI Forms Working Group for Credit Loss-Based Provisioning Transition

October 5, 2023

The Reserve Bank of India (RBI) has established a nine-member working group to propose a framework for a smoother transition to the expected credit loss-based provisioning system (ECL). The group, led by R. Narayanaswamy, a former professor of IIM Bangalore, ..

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SEBI to Implement Centralized KYC Reporting for Deceased Investors

October 4, 2023

The Securities and Exchange Board of India (Sebi) has unveiled a new framework aimed at streamlining the process of reporting and verification in the event of an investor’s demise. This initiative introduces a centralized mechanism managed by the KYC Registration ..

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RBI’s Monetary Policy: Repo Rate Unlikely to be Changed

October 3, 2023

The Reserve Bank of India’s (RBI) upcoming Monetary Policy Committee (MPC) meeting, scheduled from October 4 to 6, is expected to maintain the repo rate at 6.5 percent for the fourth consecutive time. The decision is driven by concerns about ..

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Sebi Enhances Transparency in Listing Rules for Non-Convertible Debt Securities

September 22, 2023

The Securities and Exchange Board of India (Sebi) has made significant amendments to the rules governing the listing of non-convertible debt securities issued by listed entities. These changes, which come into effect on January 1, 2024, are designed to bolster ..

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