Usha Thorat heads RBI task force on Offshore Rupee Markets

The RBI task force on Offshore Rupee Markets (ORM), headed by Usha Thorat, has suggested liberal currency market for offshore users. The panel recommended that onshore market hours may be suitably extended to match the flexibility provided by the offshore ..

RBI cuts policy repo rate in its 3rd bi-monthly Monetary Policy Statement for FY 20

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has recently announcement its 3rd bi-monthly Monetary Policy Statement for FY 20 (2019-20). In it, RBI reduced the policy repo rate under the Liquidity Adjustment Facility (LAF) by ..

RBI Cuts Repo Rate

The Reserve Bank of India (RBI) in its monetary policy review undertaken by the Monetary Policy Committee (MPC) has made the following decisions: RBI cuts repo rate to 5.4% from the current 5.75%. Reverse repo rate under liquidity adjustment facility stands ..

Government announces sale of Sovereign Gold Bond

The government has approved the issue of Sovereign Gold Bonds 2019-20 (Series III) at Rs 3,499 per gram of gold. Sovereign Gold Bonds Sovereign Gold Bonds are government securities denominated in grams of gold. They were introduced as substitutes for ..

SBI becomes first Indian bank to link up with China’s National Advance Payment System

The State Bank of India’s (SBI) Shanghai branch has become the first Indian bank to link up with China’s National Advance Payment System (CNAPS). After being a member of the CNAPS, SBI Shanghai can also offer real time transfer of ..

Debt Management and Monetary Policy in India

The discourse on the need to separate debt management and monetary policy is doing rounds for quite a time. The view was even endorsed by the committee on capital account convertibility in 1996 because of the possible conflict of interest ..

India Post Payments Bank to be converted into Small Finance Bank

Indian Posts has made a decision to convert India Post Payments Bank into Small Finance Bank. This will enable the Bank to offer small loans to customers. Payment Banks Payments banks were introduced by the Reserve Bank of India (RBI) ..

Nandan Nilekani unveiled an account aggregator model “Sahamati”

Aadhaar architect Nandan Nilekani has launched an account aggregator model – Sahamati – via which, individuals and small businesses can share their digital financial data with third-parties in a safe and secure manner. For example, a user seeking a loan ..