Page-21 of RBI
RBI imposes fines on PPIs for violating Regulatory Guidelines
Reserve Bank of India (RBI) imposed a monetary penalty on five Pre-Paid Payment Instrument (PPI) issuers which include Vodafone’s m-pesa and Phonepe, for violating its regulatory guidelines under provisions of Payment and Settlement Systems Act, 2007. Other facing Penalty includes, Western ..
Month: Current Affairs - May, 2019
RBI to Divest its Entire Stake in NABARD and NHB
The Reserve Bank of India (RBI) has sold its entire stakes in the National Bank for Agriculture & Rural Development (NABARD) and National Housing Bank (NHB) for Rs 20 crore and Rs 1,450 crore respectively. Disinvestment by RBI The decision to ..
Month: Current Affairs - April, 2019
World Economic Outlook April 2019
The International Monetary Fund (IMF) in the World Economic Outlook 2019 April report has made the following forecasts: The global growth will be 3.3% in 2019, down from 3.6% in 2018 and 4% in 2017. The reduced growth rates are ..
Month: Current Affairs - April, 2019
RBI issues norms to set up Currency Chests
The Reserve Bank of India (RBI) has issued guidelines for banks to set up new currency chests. The guidelines include: Area of the strong room/ vault of at least 1,500 sq ft. For those situated in hilly/ inaccessible places, the ..
Month: Current Affairs - April, 2019
RBI Cuts Key Interest Rate
The Reserve Bank of India (RBI) has slashed the key interest rate, repo rate by 25 basis points or 0.25 per cent to 6 per cent and has decided to maintain the neutral policy stance. Financial Statement of the RBI ..
Month: Current Affairs - April, 2019
PMI Reports Manufacturing Growth at Six Month Low
The Nikkei India Manufacturing Purchasing Managers’ Index (PMI) make the following observations: Amid slender increases in new orders and production, manufacturing activities slowed down to a six-month low in March, reflecting a loss of growth momentum. The PMI slipped from 54.3 ..
Month: Current Affairs - April, 2019
RBI tweaks NPA Disclosure Norms
The Reserve Bank of India (RBI) has brought changes to the bad loan divergence rule. The Bad loan divergence practice mandated by RBI aims at improving transparency in asset classification. The Changes brought in by the RBI are: NPA Disclosure ..
Month: Current Affairs - April, 2019
Supreme Court quashes RBI’s circular Mandating Insolvency Proceedings
The Supreme Court has struck down a February 2018 Reserve Bank of India (RBI) circular which gave lender banks six months to resolve their stressed assets or move under the Insolvency Code against private entities who have defaulted in loans ..