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RBI penalises UCO Bank for Non-Compliance
The Reserve Bank of India (RBI) has imposed Rs 2 crore penalty on UCO Bank for non-compliance of instructions issued by RBI on the collection of account payee instruments and those on frauds-classification and reporting. RBI directions on Fraud Classification and Reporting The Reserve ..
Month: Current Affairs - February, 2019
Revenue Mobilisation: Interim Budget 2019
The interim budget has announced a slew of welfare measures for farm and rural economy, middle class, realty and housing and the unorganised sector. The burden on the exchequer due to the farm income support scheme PM-KISAN itself comes around ..
Month: Current Affairs - February, 2019
Prompt Corrective Action framework restrictions lifted for Three Banks
The Reserve Bank of India (RBI) has lifted the Prompt Corrective Action (PCA) framework operational curbs on Bank of India (BoI), Bank of Maharashtra (BoM) and Oriental Bank of Commerce (OBC). These public sector banks are out of the prompt ..
Month: Current Affairs - February, 2019
India Micro, Small, and Medium Enterprises Report 2018: Key Facts
The India Micro, Small, and Medium Enterprises Report 2018 has been released Kochi based Institute of Small Enterprises and Development at the South India MSME Summit 2019 in Bengaluru. Findings of the Report The important findings of the report include: ..
Month: Current Affairs - January, 2019
IMF growth Prospects for India: Key Facts
The World Economic Outlook of the International Monetary Fund (IMF) has given the following prospects about the growth trends for India: IMF has retained its growth projection for the country at 7.5 per cent for 2019-20 and said it is likely ..
Month: Current Affairs - January, 2019
RBI initiates Industrial Outlook Survey (IOS) and Services and Infrastructure Outlook Survey (SIOS)
The Reserve Bank of India (RBI) has initiated two surveys namely, Industrial Outlook Survey (IOS), and Services and Infrastructure Outlook Survey (SIOS). The two quarterly surveys aim to examine the current situation including the job scenario in India’s manufacturing, services ..
Month: Current Affairs - January, 2019
Relaxation of Norms under PCA Framework
It is said that the finance ministry and the Reserve Bank of India are working on providing some relaxation on the prompt corrective action (PCA) framework for stressed banks. Prompt Corrective Action (PCA) Framework Prompt Corrective Action (PCA) framework has been issued ..
Month: Current Affairs - January, 2019
Sovereign gold bonds on sale between Jan 14-18: Govt
The government has decided to issue new series of sovereign gold bonds between January 14 and January 18 at Rs 3,214 per gram and those who subscribe to the bonds online will get a discount of Rs 50 per gram. Sovereign gold ..