Page-88 of IBPS
No capital gains tax or stamp duty on foreign banks converting to WoS
As per a notification by the Reserve Bank of India (RBI), the conversion of existing foreign bank branches into Wholly-owned Subsidiaries (WoS) in India will not be liable to capital gains tax or stamp duty. The central bank clarified that ..
Month: Current Affairs - December, 2013
RBI relaxes group limit for NBFCs in insurance joint ventures
RBI has decided to consider a case-to-case basis relaxation of the 50% group limit norm for NBFCs (Non-Banking Finance Companies) in the equity of insurance joint venture (JV). As per the norms of IRDA (Insurance Regulatory and Development Authority), if ..
Month: Current Affairs - November, 2013
RBI directs banks to charge for SMS alerts on actual usage basis
As per a notification by the Reserve Bank of India (RBI), banks have been directed charge customers for transaction SMS alerts on the basis of usage, instead of imposing a fixed fee. The central bank has advised all the banks to ..
Month: Current Affairs - November, 2013
RBI extends infrastructure sector lending sub-category to include hotels and convention centres
As per a notification released by the Reserve Bank of India, the definition of infrastructure lending has been extended to include hotels with project costing more than Rs. 200 crore anywhere in India and of any star rating as well as convention ..
Month: Current Affairs - November, 2013
RBI’s special dollar swap facility receives over $25 billion
According to Reserve Bank of India (RBI), over $25 billion has been collected from special concessional swap windows for deposits by non-resident Indians and overseas foreign currency borrowings by banks. The swap windows for Foreign Currency Non-Resident (Bank) FCNR (B) ..
Month: Current Affairs - November, 2013
RBI to launch CPI-indexed IIBs
The Reserve Bank of India will launch CPI-indexed Inflation Indexed Bonds (IIBs) aimed at protecting the savings of retail investors from the impact of inflation by the end of December 2013. According to RBI Deputy Governor H R Khan the ..
Month: Current Affairs - November, 2013
Category: Reports & Indexes Current Affairs
Provide loans to women SHGs at 7%: RBI to banks
The RBI has directed Public Sector Banks (PSBs) to give loans to women Self Help Groups (SHGs) at a rate of 7% per annum so as to provide them the benefit of interest rate subvention scheme under the Swarnajayanti Gram ..
Month: Current Affairs - November, 2013
Waheeda Rehman to receive First Centanary Award at 44th IFFI
Legendary actress Waheeda Rehman will be conferred with the first Centanary Award for the Indian Film Personality at the 44th International Film Festival of India (IFFI) to be held in Goa. The award has been instituted this year (2013) which ..
Month: Current Affairs - November, 2013
Category: Awards, Honours & Persons in News
RBI opens Rs 5,000 crore refinance facility for MSME
In a bid to ease liquidity to Micro and Small Enterprises (MSME) sector, the RBI has extended a Rs 5,000 crore refinance window for a period of one year for the sector. The refinance will be provided to the Small Industrial ..
Month: Current Affairs - November, 2013
Top global banks under scanner for forex market manipulation
Some of the biggest banks in the world are facing investigation for their suspected involvement in rigging the Foreign Exchange (Forex) markets. Seven investigating agencies including UK’s Financial Conduct Authority (FCA) and authorities in Switzerland, the US and Hong Kong are probing ..