Page-23 of RBI

RBI proposes Board of Management for urban co-operative banks

June 26, 2018

The Reserve Bank of India (RBI) has proposed setting up of Board of Management (BoM) in all Urban Co-operative Banks (UCBs) having deposits of over Rs 100 crore within one year to strengthen governance and promote professional management in these ..

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Credit Rating Model: Government testing big data system to aid banks assess credit risks

June 25, 2018

Ministry of Electronics and Information Technology (MeitY) is testing credit rating model, a new system that will assist banks in assessing credit risk and probability of fraud using big data analysis. The system is expected to help banks, particularly rural ..

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Liberalised Remittance Scheme: RBI alters definition of relative to check outward remittances

June 19, 2018

The Reserve Bank of India (RBI) has narrowed the definition of relatives under the ‘maintenance of close relative’ category of Liberalised Remittance Scheme (LRS) to check outflow of funds and prevent misuse of facility. Henceforth, funds under this category can ..

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RBI eases investment norms for foreign portfolio investors (FPIs) in debt

June 17, 2018

The Reserve Bank of India (RBI) has eased investment norms for foreign portfolio investors (FPIs) in debt, especially into individual large corporates. This move is aimed at attracting more overseas flows and thereby help to arrest recent fall in rupee ..

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Public Credit Registry: New Information Repository to be set up by RBI

June 7, 2018

The Reserve Bank of India (RBI) has announced that it will set up a Public Credit Registry (PCR) as a repository of information regarding loan information of individuals and corporate borrowers. This decision has been taken as per recommendations of ..

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RBI’s Monetary Policy Review: RBI Hikes Repo Rate to 6.25%

June 6, 2018

On June 6, 2018, the six members Monetary Policy Committee (MPC) of RBI has decided to hike Repo (short term lending rate) to 6.25% from 6.00%. As per the second Bi-monthly Monetary Policy Statement, the current policy rates of RBI ..

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Financial Literacy Week starts with theme ‘Customer Protection’

June 4, 2018

Reserve Bank of India is conducting Financial Literacy Week from June 4 on the theme ‘Customer Protection’. The week-long event is to focus on creating awareness among customers of banks. According to RBI, the event will emphasise on awareness about ..

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RBI appoints Sudha Balakrishnan as its first Chief Financial Officer

May 29, 2018

Reserve Bank of India (RBI) has appointed Sudha Balakrishnan as the first Chief Financial Officer (CFO). She will be the 12th executive director of the RBI and will have tenure of three years. Balakrishnan is chartered accountant by profession. Prior ..

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RBI tweaks norms for setting up of IFSC Banking Units

May 18, 2018

The Reserve Bank of India (RBI) has modified norms for setting up International Financial Services Centres (IFSC) Banking Units (IBUs) by banks in IFSCs. In April 2015, RBI had formulated scheme for setting up of IFSC IBUs by banks in ..

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RBI puts Dena Bank under prompt corrective action

May 12, 2018

Reserve Bank of India (RBI) has put state-run lender Dena Bank under prompt corrective action (PCA) framework. It has barred Dena Bank from extending fresh credit in view of deteriorating financial health due to mounting non-performing assets (NPAs) and mounting ..

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