Page-45 of RBI
Board of Financial Supervision (BFS) clears proposal that RBI will conduct an independent audit of big corporates declared fraudulent by banks
Following a sequence of investigations by the banks themselves in high-profile cases viz. Deccan Chronicle, Kingfisher Airlines, etc. which yielded very little, the RBI has now decided to itself investigate such high-profile fraud cases. The Board of Financial Supervision (BFS), chaired by ..
Month: Current Affairs - April, 2014
RBI raises Rs 20,000 Crores in record auction; India’s biggest debt auction ever
RBI fully sold the Rs 200 billion ($3.31 billion) worth of Government bonds on Thursday April 17, 2014, executing the India’s biggest-ever auction. Speculations ran in market that Life Insurance Corporation had bought a major portion of the debt at the auction. On ..
Month: Current Affairs - April, 2014
RBI panel headed by Anand Sinha releases Draft Report on ‘Pricing of Credit’; suggests Indian Banks Base Rate (IBBR)
RBI panel headed by RBI Deputy Governor Anand Sinha has recommended bringing a benchmark floating interest rate, especially for home loans. Panel also suggested Indian Banks Base Rate (IBBR). Objective: To inspect the matters linked to inequity in pricing of credit and suggest measures ..
Month: Current Affairs - April, 2014
RBI caps Ways and Means Advances limit for the Government at Rs 35,000 Cr. per week for the first half of FY 2015
RBI has set the upper limit for the WMA (Ways and Means Advances) for the central government at Rs 35,000 crore per week for the first half of the FY 2015. If the government utilises 75% of WMA limit, RBI ..
Month: Current Affairs - April, 2014
RBI grants 'In-Principle' banking licenses to IDFC and Bandhan
RBI has granted “in-principle” banking licences to Infrastructure Development Finance Company (IDFC) and microfinance lender Bandhan Financial Services Ltd. The declaration was made by RBI after nod from the Election Commission. RBI had sought a go-ahead from the Election Commission prior to declaring the ..
Month: Current Affairs - April, 2014
Highlights from the bi-monthly Monetary Policy Review by RBI
The key highlights of the bi-monthly monetary policy review by RBI are as follows: Repo Rate (RR) under the Liquidity Adjustment Facility (LAF) unchanged at 8.0% Reverse Repo Rate (RRR) under the LAF unchanged at 7.0% Marginal Standing Facility (MSF) ..
Month: Current Affairs - April, 2014
India's forex reserves near $300 billion mark
India’s foreign exchange reserves continued their rally for the fourth straight week, increased by $1.35 billion to 298.64 billion dollar on a surge in currency assets even though the reserve position with the IMF slid heavily. As per the data ..
Month: Current Affairs - March, 2014
India Rating: Extended Basel III deadline to ease pressure on banks
As per the rating agency, India Ratings (formerly Fitch), the putting off of Basel III by the Reserve Bank of India (RBI) till March 2019 would ease pressure on banks. There were industry-wide concerns about the potential stress on asset ..
Month: Current Affairs - March, 2014
RBI simplified foreign portfolio investment norms
The Reserve Bank of India (RBI) simplified foreign portfolio investment norms by putting in place an easier registration process and operating framework to attract inflows. The portfolio investor registered in reference to SEBI guidelines is known by Registered Foreign Portfolio ..
Month: Current Affairs - March, 2014
Aditya Puri committee recommendation: Give customers a free copy of credit profile
As per the Aditya Puri committee recommendations, customers should be given a free copy of their credit profile as it would help in promoting financial discipline among loan seekers. Excerpts of the recommendations made by Puri committee Headed by Aditya ..