Page-58 of RBI
RBI imposes restrictions on gold loans by Co-op banks
Intensifying the efforts to discourage the demand for gold, the Reserve Bank of India has extended the restriction on advance against gold on co-operative banks as well. RBI has directed state/central co-operative banks to ensure that the weight of the ..
Month: Current Affairs - June, 2013
RBI notifies restrictions on bank loans against Gold
Taking further measures to curb the expanding Current Account Deficit (CAD) and forex outflow, the RBI has imposed restrictions on banks and NBFCs for providing loans against purchase of gold in any form, including primary gold, gold bullion, gold jewellery, ..
Month: Current Affairs - May, 2013
Finance Ministry appoints auditors without consulting RBI
Deviating from the earlier practice of consulting the RBI while appointing auditors for the same, the government has appointed auditors for the Reserve Bank of India after consulting with the Comptroller & Auditor General (CAG). As per government, this has been done to avoid ..
Month: Current Affairs - May, 2013
RBI directs banks to adhere to ‘Clean Note Policy’
The Reserve Bank of India, under its Clean Note Policy, has directed banks to eliminate stapling of note packets and issue only clean currency notes to the public. What is Clean Note Policy? Clean Note Policy is a policy being ..
Month: Current Affairs - May, 2013
Fact Box: Inflation Indexed Bonds (IIBs)
RBI to launch Inflation Indexed Bonds in June 2013 As stipulated in the Budget 2013-14, the government, in consultation with the RBI, has decided to launch Inflation Indexed Bonds (IIBs) to wean away investors from the yellow metal (Gold) to paper-based savings ..
Month: Current Affairs - May, 2013
Category: Reports & Indexes Current Affairs
RBI imposes restriction on gold imports by banks
The Reserve Bank of India placed restrictions on banks to import gold with immediate effect to contain the soaring Current Account Deficit (CAD). Why this restriction on Gold Imports? India is among the largest importers of gold in the world. ..
Month: Current Affairs - May, 2013
Category: Awards, Honours & Persons in News
Government to set up Financial Stability and Development Council (FSDC)
The Central Government is at consensus to establish Financial Stability & Development Council (FSDC) to strengthen and institutionalize the mechanism for maintaining financial Stability and Development. What would be the role of FSDC? FSDC will perform following role: To engage ..
Month: Current Affairs - May, 2013
RBI eases rates, trims repo rate by 25bps to 7.25%
RBI reduced the Repo Rate (the rate at which RBI lends money to commercial banks), to 7.25% from 7.5% while keeping the CRR (Cash Reserve Ratio- the portion of deposits that banks require to maintain with RBI) unchanged at 4%. ..
Month: Current Affairs - May, 2013
Estimated GDP Growth at 5.7% for 2013-2014 – RBI
The RBI’s has projected a GDP growth for 2013-14 at 5.7% as against finance ministry’s projection of 6.1%- 6.7%. Indian economy grew by 5% in 2012-2013 on account of poor performance of manufacturing, agriculture and services sector. RBI’s current assessment is that ..
Month: Current Affairs - May, 2013
RBI to start plastic money project on trial basis
Deputy Governor, RBI, K. C. Chakrabarty held that the RBI is probable to commence the introduction of plastic notes in select parts of India on a trial basis and it would commence with the introduction of Rs.10 denomination and continue ..