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Government allows RBI to print Rs 10 plastic notes
The Union Finance Ministry has given permission to Reserve Bank of India (RBI) to conduct field trials of plastic (polymer-based) currency notes of Rs 10 denominations. It was announced by Union Minister of State (MoS) for Finance Arjun Ram Meghwal ..
Month: Current Affairs - March, 2017
Government notifies Specified Bank Notes (Cessation of Liabilities) Act, 2017
The Union Government has notified the Specified Bank Notes (Cessation of Liabilities) Act, 2017 to prohibit the holding, transferring or receiving of scrapped old Rs.500 and Rs. 1000 currency notes from 31 December, 2016, This law makes possession of more ..
Month: Current Affairs - March, 2017
RBI sets up inter-disciplinary standing committee to review cyber threats
The Reserve Bank of India (RBI) has set up of an inter-disciplinary standing committee on cyber security to review the threats inherent in the existing and emerging technology. The 11-member committee will be headed by Meena Hemchandra, RBI Executive Director. ..
Month: Current Affairs - February, 2017
RBI allows multilateral FIs to invest in masala bonds
The Reserve Bank of India (RBI) has permitted multilateral and regional financial institutions (FIs) to invest in ‘masala bonds’, rupee denominated bonds issued by Indian entities. This decision will allow multilateral agencies like Asian Development Bank (ADB) and BRICS led ..
Month: Current Affairs - February, 2017
Public Sector Asset Rehabilitation Agency (PARA)
The Public Sector Asset Rehabilitation Agency (PARA) colloquially called “Bad Bank” is a proposed agency to assume the Non-Performing Assets (NPA) of public sector banks in India and to deal with the recovery of the bad loans. This agency has ..
RBI to set up committee on strengthening cyber security
The Reserve Bank of India (RBI) has decided to set up an inter-disciplinary Standing Committee on cyber security to examine various threats and suggest measures to deal with it. The committee will suggest appropriate policy interventions to strengthen cyber security ..
Month: Current Affairs - February, 2017
RBI to set up separate Enforcement Department
The Reserve Bank of India (RBI) has decided to set up separate Enforcement Department to effectively monitor banks in case they violate regulations and speed up regulatory compliance. The department will be operational from April 1, 2017 i.e. the next ..
Month: Current Affairs - February, 2017
RBI keeps key rates unchanged in 6th bi-monthly monetary policy review
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) headed by RBI Governor Urjit Patel has kept the key policy rates unchanged. It was central bank’s sixth bi-monthly and last policy for the financial year 2016-17 and ..