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Union Cabinet clears Ordinance to tackle Bad Loans
The Union Cabinet has cleared an ordinance that seeks to amend the Banking Regulation Act to give more powers to Reserve Bank of India to deal with non-performing assets (NPAs) in the banking sector. The ordinance has been sent to ..
Month: Current Affairs - May, 2017
RBI asks ARCs to have a minimum net corpus of Rs100 crore by 2019
The Reserve Bank of India (RBI) has asked all the existing asset reconstruction companies (ARCs) to have a minimum net owned fund (NOF) of Rs100 crore by March 2019. This decision has been taken by RBI in accordance with its ..
Month: Current Affairs - May, 2017
India's Forex reserves increase by $1.25 billion
According to the Reserve Bank of India’s weekly statistical supplement, India’s foreign exchange (Forex) reserves have increased by $1.25 billion to reach $371.13 billion from $369.88 billion as on April 21, 2017. The current reserves are just short of a lifetime ..
Month: Current Affairs - April, 2017
RBI issues Revised Prompt Corrective Action (PCA) framework for NPAs
RBI has come up with a notification titled “Revised Prompt Corrective Action (PCA) framework for banks.” The revised framework would apply to all banks operating in India including small and foreign banks. The new set of provisions will be effective ..
Month: Current Affairs - April, 2017
RBI keeps repo rate unchanged in first monetary policy review of 2017-18
The Reserve Bank of India (RBI) in its first bimonthly monetary policy review of the financial year 2017-18, has kept the key policy rate, the repo rate unchanged, but raised reverse repo rate by 25 bps to 6%, from 5.75%. ..
Month: Current Affairs - April, 2017
RBI Board clears proposal to introduce Rs 200 notes
The board of the Reserve Bank of India (RBI) has cleared a proposal to introduce banknotes of Rs200 denomination. The decision was taken at the RBI board meeting held in Mumbai in March 2017. The process of printing the new ..
Month: Current Affairs - April, 2017
3rd G20 Framework Working Group meeting held in Varanasi
The third edition of G20 Framework Working Group (FWG) meeting was held in Varanasi, Uttar Pradesh. The two-day meeting took place under the G20 German presidency, and was co-hosted by the Union Finance Ministry and the Reserve Bank of India ..
Month: Current Affairs - March, 2017
Cabinet approves amendments to NABARD Act, 1981
Union Cabinet has approved proposal for amending National Bank for Agriculture and Rural Development Act, 1981. Decision in this regard was taken in the Union Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi. Cabinet Approvals Amendments in ..