Page-95 of IBPS
Definition of 'control' in relation to FDI notified by RBI
The Reserve Bank of India notified the definition of term ‘control’ in the context of Foreign Direct Investment (FDI) and revised the list of states where FDI is allowed in multi-brand retail. What is ‘Control’ as per RBI notification? ‘Control’ shall include the ..
Month: Current Affairs - September, 2013
Union Cabinet’s nod to RBI for buying $4.3 bn World Bank bonds
The Reserve Bank of India (RBI) was given nod by the Union Cabinet to invest $4.3 billion in special bonds of the World Bank as it would help in securing extra funding from the multilateral lending agency for infrastructure development ..
Month: Current Affairs - September, 2013
ATMs, PoS machines to scan UID biometrics
The RBI is understood to be preparing a directive for banks to introduce additional facilities in all new credit card swipe (Point of Sales, or PoS) machines and Automated Teller Machines (ATMs) for providing a mechanism for Aadhaar authentication using ..
Month: Current Affairs - September, 2013
RBI asks banks to consider using business correspondents to distribute currency
In the backdrop of growing currency demands, the RBI, in a notification, asked banks to explore the possibility of distributing banknotes and coins through business correspondents. Earlier, RBI, in its Monetary Policy Statement 2013-14, had acknowledged the need to identify ..
Month: Current Affairs - September, 2013
RBI notifies norms for banks to swap overseas borrowings
The Reserve Bank of India, in a notification, said that banks can raise funds overseas above 50% of their Tier I capital with a minimum maturity of 3 years and swap these borrowings with the RBI at a concessional rate ..
Month: Current Affairs - September, 2013
OMCs seek compensation in case of loss through RBI’s currency swap window
Oil Marketing Companies (OMCs) are not content with RBI’s currency swap facility through which it sells and buys dollars from OMCs as part of its measures to control the rupee decline. Though the rupee has gained some stability but the ..
Month: Current Affairs - September, 2013
RBI notifies norms for currency swap window
RBI has notified norms for currency swap window. As per the notification, the swap facility will be available to scheduled commercial banks for fresh Foreign Currency Non-Resident Bank – FCNR(B) deposits mobilized for a minimum period of 3 years. It further ..
Month: Current Affairs - September, 2013
ECB keeps key rate unchanged at 0.5%
The 23-member governing council of European Central Bank has left its benchmark interest rate unaltered at a record low of 0.5%. The council said that the slowly recuperating eurozone economy didn’t need a further stimulus. The 17 European Union member countries ..
Month: Current Affairs - September, 2013
RBI allows companies to use ECB for general corporate purposes
In a bid to attract capital flows, the RBI relaxed the External Commercial Borrowing (ECB) norms by permitting companies to use funds raised from their foreign equity holder company with minimum average maturity of 7 years for general corporate purposes. ..
Month: Current Affairs - September, 2013
Lok Sabha passes PFRDA Bill 2011
The Pension Fund Regulatory and Development Authority Bill (PFRDA), 2011 which aims to regulate the New Pension System (NPS) has been passed in the Lok Sabha with official amendments. The bill was introduced in the lower house in March 2011 to ..