RBI decides to inject liquidity via forex swaps

The Reserve Bank of India (RBI) has decided to inject rupee liquidity into the system through long-term foreign exchange buy/sell swap — a first-of-its-kind instrument used for liquidity management. The RBI would conduct dollar-rupee buy/sell swap auction of $5 billion ..

Alok Srivastava committee to formulate insurance cover for advocates

The Government of India (GoI) has constituted a 5-member committee to examine the issues related to framing of a proper, structured scheme for providing insurance cover to advocates and suggest modalities for its implementation. The committee, under the chairmanship of ..

World Bank signs loan pact for NRETP to boost rural incomes in India

On 4th March 2019, the World Bank (WB) and the Government of India (GoI) has signed a $250 million loan agreement for the National Rural Economic Transformation Project (NRETP) to boost Rural Incomes across 13 States in India. The loan ..

OSDMA bags SKOCH Award

The Odisha State Disaster Management Authority (OSDMA) has bagged the SKOCH Award, 2018 for its remarkable achievements in the field of disaster management. The award was presented at the 56th SKOTCH Summit held at New Delhi. The SKOCH Award is being presented ..

Month: Current Affairs - March, 2019

RBI signs a $75 billion Bilateral Swap Arrangement (BSA) with Japan’s central Bank

The Reserve Bank of India (RBI) and Bank of Japan (BOJ) have signed a Bilateral Swap Arrangement (BSA) for $75 billion that will help in bringing greater stability in foreign exchange and capital markets in the country. The pact will ..

LIC launches a new micro insurance plan “Micro Bachat”

Life Insurance Corporation (LIC) has recently launched a new micro insurance plan ‘Micro Bachat’. It is a regular premium, non-linked, participating endowment micro insurance plan, which offers a combination of protection and savings. For the first time, a micro insurance ..

RBI slaps Rs 1 crore penalty on SBI for violating norms

The Reserve Bank of India has exercised its powers conferred under Section 47A of the Banking Regulation Act of 1949 & imposed a penalty of Rs 1 crore on the State Bank of India (SBI) for not monitoring the end ..

RBI’s 6th bi-monthly monetary policy statement for 2018-19

The six-member Monetary Policy Committee (MPC), headed by RBI Governor Shaktikanta Das, announced the sixth bi-monthly monetary policy statement for 2018-19. In it, the RBI has cut the key policy rate under the liquidity adjustment facility (LAF) by 25 basis ..