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IndiaPost gets payments bank licence from RBI
IndiaPost under Department of Posts (Union Ministry of Communications and Information Technology) received final payments bank licence from the Reserve Bank of India (RBI). With this, India Post became the third entity after Bharti Airtel and Paytm to receive final ..
Month: Current Affairs - January, 2017
RBI prohibits investments in non-cooperative countries and territories
The Reserve Bank of India (RBI) has prohibited Indian entities from making direct investments in any entity located in Non-Cooperative Countries and Territories (NCCT) as identified by Financial Action Task Force (FATF). The prohibition is for aligning instructions under FEMA ..
Month: Current Affairs - January, 2017
RBI appoints Surekha Marandi as executive director
The Reserve Bank of India (RBI) has appointed Surekha Marandi as its Executive Director (ED). She was appointed in place of U S Paliwal who retired on December 31, 2016. In her new role, she will look after Consumer Education ..
Month: Current Affairs - January, 2017
Viral V Acharya appointed as RBI Deputy Governor
The Union Government has appointed Viral V Acharya (42) as new Deputy Governor at the Reserve Bank of India (RBI). He will have regular three-year tenure. His appointment was cleared by the Appointments Committee of the Cabinet (ACC) chaired by ..
Month: Current Affairs - December, 2016
RBI keeps key rates unchanged in fifth bi-monthly monetary policy review
The Reserve bank of India (RBI) in its fifth bi-monthly monetary policy review for year 2016-17 has kept key rates unchanged. Decision in this regard was taken by RBI’s six-member Monetary Policy Committee (MPC) headed by Governor Urjit Patel. This decision ..
Month: Current Affairs - December, 2016
Banks to bear liability in case of online security breach: RBI
The Reserve Bank of India (RBI) has clarified that banks will have to bear the full liability in the event of any security breach or compromise in the authorised card network. Banks issuing the cards will offer the ‘payment authentication ..
Month: Current Affairs - December, 2016
RBI to introduce new 20 & 50 rupee currency notes
The Reserve Bank of India (RBI) is going to issue new currency notes of Twenty and Fifty rupees denomination in the Mahatma Gandhi Series-2005. All old the previous currency notes of old Rs. 20 and Rs. 50 denomination issued by ..
Month: Current Affairs - December, 2016
RBI introduces incremental CRR to manage excess liquidity in banking system
The Reserve Bank of India (RBI) has introduced an incremental Cash Reserve Ratio (CRR) of 100% for fortnight to absorb excess liquidity in the banking system following demonetisation. CRR is the proportion of deposits that banks have to keep as ..