Page-46 of RBI
RBI: Unclaimed bank money to be used for depositors' education
The Reserve Bank of India (RBI) has decided to utilize unclaimed bank deposits that are estimated at Rs. 3,650 crore for education and awareness of depositors. The apex bank has announced the ‘Depositor Education and Awareness Fund Scheme, 2014’ for ..
Month: Current Affairs - March, 2014
RBI Deputy Governor KC Chakrabarty gave early resignation
Dr. Kamalesh Chandra Chakrabarty (62), the Deputy Governor of RBI, resigned from the post against his scheduled term end, due to his personal reasons. His term was scheduled to end on June 30, 2014. Mr. Chaktabarty is also the Chairman ..
Month: Current Affairs - March, 2014
RBI extended 80:20 scheme to import gold to five private banks
The Reserve Bank of India (RBI) extended the 80:20 schemes to import gold to five private banks. Under RBI 80:20 scheme Banks have been allowed to import gold:HDFC Bank, Axis Bank, Kotak Mahindra Bank, IndusInd Bank and Yes Bank. Objective: ..
Month: Current Affairs - March, 2014
RBI cautioned banks to protect ATMs and systems as Windows XP support ends on April 8, 2014
The Reserve Bank of India (RBI) has cautioned banks to take immediate steps to implement appropriate systems and controls if their systems and ATMs are still working on Windows XP, as Microsoft will stop issuing updates and patches for bugs ..
Month: Current Affairs - March, 2014
RBI hiked trade related remittance limit from Rs.2 lakh to Rs.5 lakh per transaction
The Reserve Bank of India (RBI) hiked the trade related remittance limit from Rs.2 lakh to Rs.5 lakh per transaction with immediate effect and also increased the number of transaction handled by exchange houses. The hike in per transaction is ..
Month: Current Affairs - March, 2014
12th Meeting of the FSDC Sub-Committee at New Delhi: Set up a High Powered Inter Regulatory Committee to explore ways to comply with Basel-III capital norms
At the 12th sub-committee meeting of the Financial Stability and Development Council (FSDC), headed by RBI Governor Raghuram Rajan, held at New Delhi, it was decided to set up a High Powered Inter Regulatory Committee to explore ways of enabling ..
Month: Current Affairs - March, 2014
RBI extends date of exchanging pre-2005 notes to Jan 1, 2015
The Reserve Bank of India (RBI) granted an additional nine months for the public to exchange currency notes printed before 2005, including Rs. 500 and Rs. 1,000 denominations, and set a deadline of January 1, 2015. The apex bank stated ..
Month: Current Affairs - March, 2014
RBI imposed restrictions on intra-group investment by banks
In a bid to mitigate the financial risk from concentration of business, the Reserve Bank of India (RBI) imposed curbs on banks investing in their group companies. Objective of ITEs measures: To ensure that banks maintain arm’s length relationship in ..
Month: Current Affairs - February, 2014
RBI allowed FIIs to purchase 30% shares in Dabur
The Reserve Bank of India (RBI) allowed Foreign Institutional Investors (FIIs) to purchase shares in Dabur India up to 30% of the firm’s paid up capital. FIIs have been allowed to buy more shares in Dabur India as the company ..
Month: Current Affairs - February, 2014
RBI released draft Report on Enabling PKI in Payment System Applications
The Reserve Bank of India (RBI) released draft report on enabling Public Key Infrastructure (PKI) in payment system applications. Public Key Infrastructure enabled electronic payment systems that has been introduced by the RBI are – RTGS, NEFT, CBLO, FOREX Clearing, ..