Page-94 of IBPS
RBI confident of financing CAD without drawing much from reserves
RBI Governor Raghuram Rajan evinced confidence that the country would be able to finance the Current Account Deficit (CAD) without drawing down much from the forex reserves. RBI is of the view that CAD could be brought down to $70 ..
Month: Current Affairs - September, 2013
RBI slashes MSF rate to 9.50%
The Reserve Bank of India slashed the Marginal Standing Facility rate (MSF) by 75 basis points from 10. 25% to 9.50%. The central bank also rolled back minimum daily maintenance of the Cash Reserve Ratio (CRR) from 99% to 95% ..
Month: Current Affairs - September, 2013
RBI relaxes for opening new bank branches in Tier I cities
Now banks will have freedom to open branches in tier-I cities (those with population over 1 lakh) without seeking RBI’s approval in each case. However, as per RBI guidelines, there are some conditions on opening branches, these are stipulated below: ..
Month: Current Affairs - September, 2013
Bharatiya Mahila Bank to recruit POs
India’s first all-women bank, Bharatiya Mahila Bank, which expected to be operational from November 2013, has invited online applications from female candidates for the 115 Probationary Officer posts. The last date for online application is till September 30, 2013. About ..
Month: Current Affairs - September, 2013
Draft norms on new Company Law make companies to disclose management’s pay
As per norms stipulated in the second set draft rules for the new company law, listed firms have been mandated to disclose in the board’s report the ratio of the remuneration of each director to the median remuneration of employees. ..
Month: Current Affairs - September, 2013
US puts Prudential Financial into ‘too big to fail’ list
The US Financial Stability Oversight Council’s (FSOC) designated insurance company Prudential Financial to its list of “too big to fail” institutions. The company has become the third non-bank firm placed under a tighter regulatory regime to reduce risks to the ..
Month: Current Affairs - September, 2013
RBI hikes repo rate by 25 basis points to 7.5%
In a surprising move, the Reserve Bank of India Governor Raghuram Rajan, in his maiden mid-quarter monetary policy review, hiked the short-term lending (repo) rate to 7.5%, seeking to control inflation. The Cash Reserve Ratio (CRR) was left untouched at ..
Month: Current Affairs - September, 2013
China launches its first direct bank
China launched its first direct bank, a new mode of providing online banking services without any entity outlets. The direct bank has been launched by the Bank of Beijing in co-operation with the Netherlands-based ING Group. What is a Direct ..
Month: Current Affairs - September, 2013
RBI tightens norms for companies lending against gold
As per the notification by the RBI, the central bank has tightened rules for finance companies which lend against gold, in line with the suggestions of an internal panel. As per the new rules: The lenders need to value the ..
Month: Current Affairs - September, 2013
RBI invites bids to implement global Legal Entity Identifier system
In order to have a better control on financial transactions, such as equity and currency derivatives, the Reserve Bank of India has invited limited bids from about six entities, including depositories, depository participants and custodians, to issue unique identification codes ..