Page-33 of RBI

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 ..

Month: 

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 ..

Month: 

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 ..

Month: 

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 ..

Month: 

RBI limits Customer liability in Online Banking

July 7, 2017

RBI has issued directions on ‘Customer Protection – Limiting Liability of Customers in unauthorised Electronic Banking Transactions’. RBI has issued the revised directions amidst a recent increase in customer grievances related to unauthorised transactions. Salient Highlights The following are the salient highlights of the revised directions: If the ..

Month: 

RBI: Fiscal Deficit of States Soars to Rs 4.93 trillion in FY16

June 24, 2017

According to ‘Handbook of Statistics on States 2016-17‘, the gross fiscal deficits of all the states have soared to Rs 4,93,360 crore in fiscal 2016 from Rs 18,790 crore in FY1991. This is the second edition of RBI’s statistical publication. Salient ..

Month: 

Union Cabinet approves Interest Subvention on Short-Term Crop Loan to Farmers

June 14, 2017

The Union cabinet has approved the Interest Subvention Scheme (ISS) for farmers for the year 2017-18. The Government has allocated Rs. 20,339 crore for this scheme. Salient Highlights The objective of the scheme is to make available agricultural credit for Short Term ..

Month: 

RBI identifies 12 Bank Accounts accounting 25% of NPAs to initiate Bankruptcy Proceedings

June 14, 2017

RBI’s Internal Advisory Committee (IAC) has identified 12 bank accounts constituting nearly 25% of the gross bad loans for immediate referral and resolution under the bankruptcy law. Each of the 12 identified accounts was having more than 5,000 crore rupees of outstanding ..

Month: