Page-49 of RBI
Get rid of SLR, end loan waivers: RBI committee
A high-level panel of the Reserve Bank of India (RBI) has suggested that the central bank should gradually abolish the Statutory Liquidity Ratio (SLR), the portion of deposits that banks must compulsorily keep in government securities. At present, SLR is ..
Month: Current Affairs - January, 2014
RBI permits firms to issue debt to non-residents as bonus
The Reserve Bank of India (RBI) has granted permission to Indian companies to issue non-convertible or redeemable preference shares or debentures to non-resident shareholders from their general reserves as bonus. This facility will also include the depositories that act as trustees ..
Month: Current Affairs - January, 2014
RBI eases gold dore import norms; allows refineries to import 15% of their annual requirements in first two months
In consultation with the Government of India, the Reserve Bank of India (RBI) partially eased restrictions on import of gold dore after taking into account representations from refiners. As per the new norms – Refineries are allowed to import dore ..
Month: Current Affairs - January, 2014
RBI: Banks to continue accepting scribbled notes
The Reserve Bank of India (RBI) stated that banks will continue to accept currency notes with anything written on them and it has not issued any such instructions regarding discontinuity of scribed notes. Nevertheless, the central bank reiterated that writing ..
Month: Current Affairs - January, 2014
RBI: political instability after LS elections will hit economy
The Reserve Bank of India (RBI) cautioned that any political instability after the Lok Sabha elections in 2014 will drag the besieged economy further down, except there is a stable new government at the centre. On the release of the 8th ..
Month: Current Affairs - January, 2014
SBI to act as lead bank for four newly-formed Meghalaya districts
The Reserve Bank of India (RBI) designated SBI to act as the lead bank in four newly constructed districts in Meghalaya. The central bank also assigned State Bank of India (SBI), the district working codes for the purpose of Basic ..
Month: Current Affairs - December, 2013
RBI: Inflation linked bonds for sale from December 23, 2013
The Reserve Bank of India (RBI) will issue Inflation Indexed National Savings Securities Cumulative (IINSS-C) bonds (or inflation linked bonds) for retail investors by opening the subscription on December 23, 2013 and close it on December 31, 2013. Objective: The ..
Month: Current Affairs - December, 2013
RBI outlines action plan to tackle NPAs; discussion paper open for public comments
The Reserve Bank of India (RBI) outlined a corrective action plan to minimize rising Non-performing assets (NPAs). The plan include three steps:- To motivate early identification of problem cases. To restructure the accounts timely , which are considered to be ..
Month: Current Affairs - December, 2013
RBI mid quarter monetary policy review: All rates remain unchanged
The Reserve Bank of India (RBI) in its mid-quarter Monetary Policy Review kept the interest rates unchanged. By this move, the central bank gave the indication that solely monetary policy can’t deal with the inflation; the government must take initiatives ..
Month: Current Affairs - December, 2013
RBI grants license to Doha Bank to start banking operations in India
The Reserve Bank of India has granted license to Doha Bank to start banking operations in India and has allowed it to open a branch in Mumbai to provide full-scale banking services. Doha Bank which is the largest commercial bank ..