Domestic companies can make payments in SEZ in foreign currency: RBI

The RBI has given permission to domestic companies to make payments to units in Special Economic Zones in foreign currency for the services delivered by them. Earlier, this facility was allowed only for payments made for goods. To promote software ..

Month: Current Affairs - October, 2012

Interest Rate Regulation

India has pursued financial sector reforms as a part of structural reforms initiated in the early 1990s. A major component of the financial sector reform process was deregulation of a complex structure of deposit and lending interest rates. The administered ..

History of Reserve Bank of India

Prior to RBI, all the functions of a central bank were being done by Imperial Bank of India. Imperial Bank of India was established in 1921 via the Imperial Bank of India Act, 1920 which amalgamated three Presidency Banks into ..

Deposit Insurance in India

The idea behind the Deposit Insurance is to boost the faith of the public in the banking system, and provide protection against the loss of deposits to a significant extent. In India, the bank deposits are covered under the insurance ..