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Public Credit Registry: New Information Repository to be set up by RBI
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 ..
Month: Current Affairs - June, 2018
RBI’s Monetary Policy Review: RBI Hikes Repo Rate to 6.25%
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 ..
Month: Current Affairs - June, 2018
Financial Literacy Week starts with theme ‘Customer Protection’
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 ..
Month: Current Affairs - June, 2018
RBI appoints Sudha Balakrishnan as its first Chief Financial Officer
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 ..
Month: Current Affairs - May, 2018
RBI tweaks norms for setting up of IFSC Banking Units
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 ..
Month: Current Affairs - May, 2018
RBI puts Dena Bank under prompt corrective action
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 ..
Month: Current Affairs - May, 2018
RBI eases External borrowing norms to enable cheaper funds
The Reserve Bank of India (RBI) has further liberalised External Commercial Borrowings (ECB) Policy by including more sectors in the window in a bid to facilitate cheaper access of overseas funds to Indian companies. Key Facts RBI has stipulated uniform, ..
Month: Current Affairs - April, 2018
India’s forex reserves at record high of $424.864 billion: RBI
According to the Reserve Bank of India (RBI), India’s forex (foreign exchange) reserves have touched record high of $424.864 billion in April 2018. The surge was due to massive spike in foreign currency assets (FCAs), a key component of the ..