Page-31 of RBI
RBI issues new series of Rs 500 and Rs 2,000 currency notes
The Reserve Bank of India (RBI) has issued new series of notes for 500 rupees and 2,000 rupees denomination with improved features and newer sizes. These new series of notes was issued following Prime Minister Narendra Modi’s announcement that Rs ..
Month: Current Affairs - November, 2016
Rs. 500, Rs. 1,000 notes no longer legal tender
The Union Government has announced that Rs. 500, Rs. 1,000 notes will cease to be legal tender. It was announced by Prime Minister Narendra Modi in a surprise address to nation. The demonetisation drive of these two currency units was ..
Month: Current Affairs - November, 2016
RBI appoints M Rajeshwar Rao as new Executive Director
The Reserve Bank of India (RBI) has appointed M Rajeshwar Rao as Executive Director (ED) following voluntary retirement of G Mahalingam. In his new role, Mr. Rao will look after Department of Statistics and Information Management, Financial markets Operations Department ..
Month: Current Affairs - November, 2016
HCC becomes first firm to get debt recast under RBI’s S4A Scheme
Construction major Hindustan Construction Company (HCC) became India’s first firm to get debt recast under RBI’s new Scheme for Sustainable Structuring of Stressed Assets (S4A). The RBI-mandated Overseeing Committee (OC) under the S4A has approved HCC’s Rs. 5,000-crore debt recast ..
Month: Current Affairs - November, 2016
RBI allows startups to raise $3 million via ECBs annually
The Reserve Bank of India (RBI) has permitted startups to raise external commercial borrowings (ECBs) of up to $3 million in a financial year for three year tenure The new rules issued by RBI aims at boosting innovation and promoting ..
Month: Current Affairs - October, 2016
Finance Ministry constitutes committee to consolidate regulation of pension products
The Union Finance Ministry has constituted a high-level committee to consolidate the regulation of pension products that is currently being done by three different watchdogs including insurance and stock market regulators. The committee would have representatives from all financial sector ..
Month: Current Affairs - October, 2016
Payment Banks need RBI’s Prior product approval
The Reserve Bank of India (RBI) has notified entities that have been granted a payments bank (PB) licence will need to take specific approval for products they would be offering to customers. In this regard, RBI has issued separate operating ..
Month: Current Affairs - October, 2016
RBI Panel moots easing bank branch norms
The Reserve Bank of India (RBI) Internal Working Group (IWG) on Rationalisation of Branch Authorisation Policy has proposed easing bank branch norms. It was chaired by Lily Vadera. It has proposed to relax norms that a bank branch has to ..
Month: Current Affairs - October, 2016
RBI cuts repo rate by 25 bps in 4th Bi-monthly Monetary Policy Statement
The Reserve Bank of India (RBI) in its fourth bi-monthly monetary policy review for year 2016-17 has cut the repo rate by 25 basis points to 6.25%. This monetary policy decision was taken by the newly constituted Monetary Policy Committee ..
Month: Current Affairs - October, 2016
Union Government notifies constitution of Monetary Policy Committee
The Union Government has notified the constitution of the six members Monetary Policy Committee (MPC). In this regard, the Union Finance Minister has used powers designated under the section 45ZB of the Reserve Bank of India (RBI) Act, 1934 to ..