Page-42 of RBI

Provide information to SIT on black money: RBI directs banks and FIs

June 23, 2014

The RBI has asked all Banks and Financial Institutions (FIs) to provide information and documents sought by the Special Investigation Team (SIT) set up to uncover black money. The new Government at Centre recently constituted an SIT under the chairmanship of ..

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Mayaram Committee’s definitions of FDI, FII accepted by the Government of India

June 21, 2014

The Government of India has accepted the report of Mayaram Committee thereby accepting the definitions of FII and FDI. The panel headed by Finance Secretary was set up to rationalize the definitions of FII and FDI. Some key points from ..

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RBI uses OMOs to absorb excess rupee from the system

June 18, 2014

The Reserve Bank of India (RBI) conducted Open Market Operations (OMOs) to sell Rs 2,255 crore of government bonds between June 2 to June 6, 2014, to absorb excess rupee liquidity it has injected into the system through dollar purchasing. ..

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RBI mulling over Payment bank as recommended by Nachiket Mor Panel

June 13, 2014

The Reserve Bank of India will soon come up with India’s first payments bank, which will offer deposit and payment services but not provide loans.  This idea is in line with the recommendations made by the Nachiket Mor committee. The central bank ..

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KYC norms for opening of bank accounts simplified by RBI

June 10, 2014

Making opening a bank account less cumbersome than earlier, the RBI has said that accounts can now be opened with just one address proof, permanent or local. This decision has been taken keeping in mind the banking needs of migrant ..

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RBI increases CRR to 4% for non-scheduled UCBs

June 9, 2014

From July 12, 2014, non-scheduled Urban Co-operative Banks (UCBs) will have to keep more of their deposits with the central bank as the Reserve Bank of India (RBI) has raised the Cash Reserve Ratio (CRR) for these banks by 100 basis points to 4%. ..

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Never dispense with your debit/credit card PIN: RBI

June 9, 2014

Recently, the Reserve Bank of India (RBI) made it compulsory for debit and credit card holders to key in the Personal Identification Number (PIN) while making transactions at retail outlets across the country. While the guideline is followed to curb ..

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RBI's second Bi-Monthly Monetary Policy Statement, 2014-15

June 8, 2014

Monetary and Liquidity Measures On the basis of an assessment of the current and evolving macroeconomic situation, RBI has been decided the following key rates: RR (Reverse Repo Rate) RRR (Reverse Repo Rate) LAF (Liquidity Adjustment Facility) CRR (Cash Reserve Ratio) ..

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RBI hikes CRR for non-scheduled urban co-operative banks

June 6, 2014

The Reserve Bank of India (RBI) raised the Cash Reserve Ratio (CRR) for non-scheduled Urban Co-operative Banks (UCBs) by 100 basis points from 3% to 4%. The step will bring nonscheduled UCBs on par with scheduled primary urban co-operative banks. There are around ..

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India’s Forex reserves up by $ 15.5 billion in FY'14: RBI

May 31, 2014

As per RBI, India’s foreign exchange (Forex) reserves jumped by $15.5 billion in the Financial Year (FY) ended March 2014. The reserves stood at $303.67 billion. As per data released by the RBI on India’s Forex status: On Balance of ..

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