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RBI to regulate peer-to-peer lending firms as NBFCs: Government

September 21, 2017

The Union Government has issued gazette notification, notifying that Peer-to-peer lending (P2P) platforms will be treated as non-banking financial companies (NBFCs) and thus regulated by Reserve Bank of India (RBI). The notification will help P2P lenders to gain official recognition ..

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India’s Forex reserves cross $400 billion for first time

September 16, 2017

According to Reserve Bank of India (RBI), India’s foreign exchange (Forex) reserves have crossed $400 billion mark for the first time. The increase was due sharp rise in foreign currency assets. India is now at sixth position in forex reserves ..

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HDFC Bank listed in Domestic Systemically Important Banks

September 5, 2017

The Reserve Bank of India (RBI) has added HDFC Bank, the second largest private sector lender of country in list of Domestic Systemically Important Banks (D-SIBs). HDFC Bank is third bank in country to be added in list of D-SIBs ..

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Government notifies new Rs.200 notes

August 24, 2017

The Union Finance Ministry on the recommendations of the Central Board of Directors of the Reserve Bank of India (RBI) has notified currency notes of Rs.200. The new notes are likely to be in circulation shortly. The new Rs.200 currency ..

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RBI to issue new Rs 50 currency note

August 19, 2017

The Reserve Bank of India (RBI) will shortly issue new banknotes of Rs.50 denomination in the Mahatma Gandhi (New) Series. The base colour of the new notes will be fluorescent blue. RBI also has clarified that all banknotes in Rs.50 ..

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Lok Sabha passes NABARD (Amendment) Bill, 2017

August 3, 2017

The Lok Sabha has passed the National Bank for Agriculture and Rural Development (Amendment) Bill, 2017 by voice vote. The Bill seeks to amend the NABARD Act, 1981. NABARD is responsible for providing and regulating facilities like credit for agricultural ..

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Lok Sabha passes Banking Regulation (Amendment) Bill, 2017

August 3, 2017

The Lok Sabha has passed the Banking Regulation (Amendment) Bill, 2017 by voice vote. It will replace the Banking Regulation (Amendment) Ordinance, 2017. The bill seeks to amend the Banking Regulation Act, 1949 to insert provisions for handling cases related ..

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RBI cuts repo rate by 25 bps to 6%

August 2, 2017

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has reduced short-term lending rate, or repo rate, by 25 basis points to 6%.  It was RBI’s third bimonthly policy review for the financial year 2017-18. The decision ..

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NPCI gets RBI nod to operate Bharat Bill Payment System

July 29, 2017

The National Payments Corporation of India (NPCI) has received final nod from the Reserve Bank of India (RBI) to function as the Bharat Bill Payment Central Unit (BBPCU) and operate the Bharat Bill Payment System (BBPS). The final clearance from ..

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India's forex reserves at record-high of $386.53 billion

July 10, 2017

According to RBI, India’s foreign exchange (Forex) reserves have increased by $4.007 billion to touch a record high of $386.539 billion in the week that ended 30th June 2017. The components of India’s Foreign Exchange Reserves include Foreign currency assets ..

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