Page-39 of RBI
RBI allows startups to raise $3 million via ECBs annually
The Reserve Bank of India (RBI) has permitted startups to raise external commercial borrowings (ECBs) of up to $3 million in a financial year for three year tenure The new rules issued by RBI aims at boosting innovation and promoting ..
Month: Current Affairs - October, 2016
Finance Ministry constitutes committee to consolidate regulation of pension products
The Union Finance Ministry has constituted a high-level committee to consolidate the regulation of pension products that is currently being done by three different watchdogs including insurance and stock market regulators. The committee would have representatives from all financial sector ..
Month: Current Affairs - October, 2016
Payment Banks need RBI’s Prior product approval
The Reserve Bank of India (RBI) has notified entities that have been granted a payments bank (PB) licence will need to take specific approval for products they would be offering to customers. In this regard, RBI has issued separate operating ..
Month: Current Affairs - October, 2016
RBI Panel moots easing bank branch norms
The Reserve Bank of India (RBI) Internal Working Group (IWG) on Rationalisation of Branch Authorisation Policy has proposed easing bank branch norms. It was chaired by Lily Vadera. It has proposed to relax norms that a bank branch has to ..
Month: Current Affairs - October, 2016
RBI cuts repo rate by 25 bps in 4th Bi-monthly Monetary Policy Statement
The Reserve Bank of India (RBI) in its fourth bi-monthly monetary policy review for year 2016-17 has cut the repo rate by 25 basis points to 6.25%. This monetary policy decision was taken by the newly constituted Monetary Policy Committee ..
Month: Current Affairs - October, 2016
Union Government notifies constitution of Monetary Policy Committee
The Union Government has notified the constitution of the six members Monetary Policy Committee (MPC). In this regard, the Union Finance Minister has used powers designated under the section 45ZB of the Reserve Bank of India (RBI) Act, 1934 to ..
Month: Current Affairs - September, 2016
Union Government appoints three economists to Monetary Policy Committee
The Appointments Committee of Cabinet (ACC) has appointed three economists as the external appointees on the Monetary Policy Committee (MPC). They are Pami Dua, Chetan Ghate and Ravindra Dholakia. They will have a fixed four year term and it is ..
Month: Current Affairs - September, 2016
Urjit Patel assumes charge as 24th RBI Governor
Eminent economist, consultant and banker Dr. Urjit Patel has assumed charge as the 24th Governor of the Reserve Bank of India (RBI). Dr. Patel succeeds Raghuram Rajan who completed his tenure after serving a three-year term. He will have tenure ..