RBI approves Dividend of Rs 57,000 crore to Government

The Central Board of the Reserve Bank of India has approved the transfer of Rs 57128 crores as the dividend to the Central government for the accounting year 2019-20 while maintaining the contingency risk buffer at 5.5 per cent. What ..

Month: Current Affairs - August, 2020

15 Proposals worth Rs 6400 Cr Sanctioned for Stressed NBFCs and HFCs

The Finance Ministry has declared that the government has sanctioned 15 proposals worth Rs 6400 crores as part of the Special Liquidity Package, a part of the Rs 20.97 lakh crore ‘Atmanirbhar Bharat’ Package announced by the government. What is ..

Month: Current Affairs - August, 2020

RBI constitutes a panel for Loan restructuring

The Reserve Bank of India has formed a five-member committee under the chairmanship of former ICICI Bank CEO KV Kamath to make recommendations regarding the financial parameters to be considered in the structuring of loans impacted by the COVID 19 ..

Month: Current Affairs - August, 2020

Start-ups come under Priority sector as per new lending norms

The Reserve Bank of India has brought the startups in the country under the purview of priority sector guidelines (PSL), a move that will make it easier for startups to raise funding from the banking sector. As of now, the ..

Month: Current Affairs - August, 2020

RBI Consumer confidence Survey: Highlights

According to the Consumer Confidence Survey carried out by the Reserve Bank of India, it has been observed that the consumer confidence has seen the lowest-ever level in July with the citizens becoming more pessimistic regarding their jobs, the income ..

Month: Current Affairs - August, 2020

RBI increases Gold loan amount to 90% of pledged gold value

The Reserve Bank of India has relaxed the norms for gold lending in the country and with this; the lenders can now give loans up to the value of 90% of the total value of gold. Previously, this was 75% ..

Month: Current Affairs - August, 2020

RBI to set up innovation hub for Financial Sector

The Reserve Bank of India has announced that it is setting up an Innovation Hub to promote innovation across the financial sector by utilizing technology for various things. It is going to act as a centre of innovation for the ..

Month: Current Affairs - August, 2020

RBI keeps Repo Rate Unchanged at 4%

The Monetary Policy Committee of the Reserve Bank of India has decided to keep the Repo Rate unchanged during the bi-monthly policy review of the apex bank. The MPC is headed by Shaktikanta Das, the Governor of the RBI. The ..

Month: Current Affairs - August, 2020

RBI to extend $400 million Currency Swap Facility to Sri Lanka

The Reserve Bank of India has signed all the necessary documents for extending a $400 million currency swap facility to Sri Lanka to boost the island nation’s draining foreign exchange reserves on account of the coronavirus pandemic around the world. ..

Month: Current Affairs - July, 2020

RBI creates Payment Infrastructure Development Fund

On June 5, 2020, the Reserve Bank of India created Payment Infrastructure Development Fund of Rs 500 crores. Highlights The apex bank has made an initial contribution of Rs 250 crores towards the funds. The rest of the fund is ..

Month: Current Affairs - June, 2020