Economic affairs secretary Shaktikanta Das nominated on RBI Central Board

Union Government has nominated Economic Affairs Secretary Shaktikanta Das to the Central Board of Directors of the Reserve Bank of India (RBI). Mr. Dase is IAS officer of 1980 batch from of Tamil Nadu cadre. His nomination is effective from ..

Month: Current Affairs - October, 2015

RBI allows NRIs to subscribe to National Pension System

The Reserve Bank of India (RBI) has allowed non-resident Indians (NRIs) to subscribe to the National Pension System (NPS) enabling them access old age income security. RBI has taken this decision in consultation with Union Government under the Prime Minister ..

Month: Current Affairs - October, 2015

RBI allows Indian corporate to issue offshore rupee-denominated bonds outside India

The Reserve Bank of India (RBI) has granted permission to the Indian corporate to issue offshore rupee-denominated bonds (Masala Bonds) outside India. In this regard, Union Government has considered the matter of taxation of income from such bonds under Income ..

Month: Current Affairs - October, 2015

RBI allows banks to fix interest rates on gold deposit scheme

Reserve Bank of India (RBI) has allowed banks to fix their own interest rates on gold deposits under the Gold Monetisation Scheme. In this regard RBI has issued guidelines mentioning Banks are free to set interest rate such as principal ..

Month: Current Affairs - October, 2015

RBI, UAE Central Bank ink MoU for supervisory information exchange

The Reserve Bank of India (RBI) has signed a Memorandum of Understanding (MoU) with the Central Bank of United Arab Emirates (UAE) on Supervisory Cooperation and Exchange of Supervisory Information. It was signed at Abu Dhabi, UAE by Saeed Abdulla ..

Month: Current Affairs - October, 2015

RBI formed Financial Inclusion Fund with Rs. 2000 crore corpus

Reserve Bank of India (RBI) has established Financial Inclusion Fund (FIF) with Rs. 2000 crore corpus expanding reach of banking services. This fund will support the developmental and promotional activities covered under the financial inclusion initiatives. Key facts FIF has ..

Month: Current Affairs - October, 2015

RBI lowers repo rate by 50 basis points to 6.75 per cent

Reserve Bank of India (RBI) has reduced the policy repo rate under the liquidity adjustment facility (LAF) by 50 basis points from 7.25 per cent to 6.75 per cent with immediate effect. It was announced in the recently released fourth ..

Month: Current Affairs - September, 2015

RBI approves 10 entities to set up Small Finance Banks

The Reserve Bank of India (RBI) has granted in principle approval to 10 entities to set up small finance banks to provide basic banking services to small farmers and micro industries. The in-principle approval will enable these entities comply with ..

Month: Current Affairs - September, 2015

RBI, Nepal Rastra Bank ink MoU for supervisory information exchange

Reserve Bank of India (RBI) has inked a Memorandum of Understanding (MoU) with the Nepal Rastra Bank (NRB) on Supervisory Cooperation and Exchange of Supervisory Information. The MoU was signed by RBI’s Executive Director Meena Hemchandra and Nepal Rastra Bank’s ..

Month: Current Affairs - September, 2015

ON Financial Stability Report

Indian economy has withstood the global pressures with ease at a time when sluggishness was apparent in European and Japanese economic fronts. It is the sharp decline in oil prices coupled with declining energy prices which have made the conditions ..