Increase in the Number of Wilful Defaulters

The government has stated that the number of wilful defaulters in nationalised banks was increased by about 60 per cent in the last five years. The number of wilful defaulters has been increased to 8,582 in five years in March ..

FM chairs 20th Meeting of FSDC

The 20th Meeting of Financial Stability and Development Council (FSDC) was held under the Chairmanship of Smt. Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs. Key Highlights of Meeting The Meeting reviewed current global and domestic economic situation, overall ..

Month: Current Affairs - June, 2019

Recommendations of U K Sinha Committee

The Reserve Bank of India (RBI) had constituted an Expert Committee on Micro, Small and Medium Enterprises under the chairmanship U K Sinha to suggest long-term measures for the economic and financial sustainability of the MSME sector. Recommendations of the ..

RBI Report pushes for Digital Transactions

The Reserve Bank of India (RBI) report Payment and Settlement: The Plumbing in the Architecture of India s Financial System makes the following observations about digital payments: India s effort to build a less-cash economy is gathering momentum. Digital transactions ..

RBI constitutes high-level committee to review ATM charges

The Reserve Bank of India (RBI) has constituted a high-level committee under the chairmanship of VG Kannan, Chief Executive of Indian Banks’ Association (IBA) to review the entire gamut of ATM charges and fees. Key Highlights Background: There are around 2 ..

Month: Current Affairs - June, 2019

RBI Sets up Committee to Review ATM Charges

The Reserve Bank of India (RBI) has set up a committee under VG Kannan, Chief Executive Officer of the Indian Banks’ Association for giving a fillip to ATM deployment in unbanked areas. Terms of Reference for the Committee Reviewing the ..

RBI eases norms for Basic Savings Bank Deposit Accounts

The Reserve Bank of India (RBI) has eased the norms for the Basic Savings Bank Deposit Accounts. New Facilities Issuance of Cheque Book which may/may not be priced. Allowing deposit of cash at bank branch as well as ATMs/CDMs without ..

RBI Proposes New Norms for Debt Resolution

The Reserve Bank of India (RBI) has proposed new norms under Prudential framework for resolution of stressed assets for debt resolution after the earlier one was struck down by the Supreme Court. New Norms New norms are applicable for loan ..