Page-59 of RBI
RBI slashes repo rate by 25 bps, no change in CRR
The Reserve Bank of India (RBI) has cut down repo rate by 25 basis points from 7.75% to 7.5% with immediate effect. As a result, The reverse repo rate stands adjusted to 6.5%. The marginal standing facility (MSF) rate and ..
Month: Current Affairs - March, 2013
RBI to start fresh IESH
The Reserve Bank of India (RBI) has launched the 31st Inflation Expectations Survey of Households (IESH) with January-March 2013 as the current reference period. What is IESH? Inflation Expectations Survey of Households (IESH) are subjective assessments of around 5,000 households ..
Month: Current Affairs - March, 2013
RBI to introduce Rs 10 plastic notes in 5 cities
Government and the RBI have decided to launch one billion pieces of Rs 10 bank notes made of plastic on a field trial basis in 5 cities viz. Kochi, Mysore, Jaipur, Bhubhaneswar and Shimla. Why this measure? Primary goal of ..
Month: Current Affairs - March, 2013
Four regulators sign MoU to jointly supervise financial conglomerates
The four financial sector regulators in the country- RBI, SEBI, IRDA and PFRDA have inked a Memorandum of Understanding (MoU) for co-operation in the field of consolidated supervision and monitoring of financial groups identified as financial conglomerates. What is the ..
Month: Current Affairs - March, 2013
Category: India Nation & States Current Affairs
RBI chief rules out a revision in inflation goal
The RBI Governor D. Subbarao has ruled out any revision in its inflation goal while addressing a meeting over the subject “Is there a new normal for inflation?” Mr. Subbarao asserted that: Much of Indian Economy’s inflation is driven by ..
Month: Current Affairs - March, 2013
Category: Awards, Honours & Persons in News
Financial inclusion plan main criteria for getting new bank licences: RBI
The Reserve Bank of India (RBI) has said in its new banking license guidelines that the important criteria for processing the application would be the business model of the applicants and it should provide for financial inclusion.As per these guidelines, ..
Month: Current Affairs - March, 2013
Impose monetary limit for overseas use of cards: RBI
The RBI has asked banks to fix a monetary limit for international transactions on credit and debit cards.More directives by the RBI: Banks should refrain from issuing cards with global access unless specifically sought by the customer. A monetary limit ..
Month: Current Affairs - March, 2013
Budget Box: Government to infuse Rs 14, 000 cr in PSU banks next fiscal
In the Budget speech it has been announced that the government will infuse Rs 14,000 crore in public sector banks in next fiscal (2013-14). Objective: To ensure that PSU Banks meet the Basel III regulations regarding capital adequacy. Implementation of ..
Month: Current Affairs - March, 2013
Budget Box: Banks can sell insurance products of multiple insurance firms
As per Budget 2013-14, banks will also act as brokers for selling insurance products of multiple companies. More highlights on Insurance sector: Insurance companies will be allowed to open branches in non-metropolitan cities without approval from the insurance regulator. All ..
Month: Current Affairs - March, 2013
Value of currency note has not increased with inflation: RBI
As per a RBI study, the average value of a currency note did not keep pace with inflation in the past four decades. As per the study: There has been only eight fold increase in the average value of a ..