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Monetary Policy Committee meets: Repo rate reduces to 4%
On May 22, 2020, the policy committee met in an emergency meeting to review the current economic outlook and impacts of COVID-19. Highlights The RBI has reduced the repo rate from 4.4% to 4%. It has reduced the reverse repo ..
Month: Current Affairs - May, 2020
Group of Ministers submitted draft proposal on Employment and Skill Development
The Group of Ministers Committee formed under the leadership of Social Justice and Empowerment Minister recently submitted its draft proposals on employment and skill development. Proposals made The following proposals were made by the draft The draft has proposed “The ..
Month: Current Affairs - May, 2020
RBI launched a 50,000 Crore INR Liquidity Window to support Mutual Funds
The RBI has announced a special liquidity window of 50,000 crore INR for mutual funds in light of Franklin Templeton closing down 6 of its debt funds due to lack of liquidity. High Risk Mutual Fund Mutual funds are investment ..
International Financial Services Centre Authority established by GoI
The Government of India has established International Financial Services Centre Authority. The headquarters of the authority is to be established in Gandhinagar, Gujarat. Highlights The Authority was established through a notification. The notification issued by the GoI brings into effect ..
Month: Current Affairs - April, 2020
RBI announces Special Liquidity Mutual Funds worth Rs 50,000 crores
On April 27, 2020, the Reserve Bank of India announced the special liquidity facility for mutual funds of Rs 50,000 crores. The Reserve Bank of India is increasing liquidity flow in capital markets as COVID-19 has imposed liquidity strains on ..
Month: Current Affairs - April, 2020
Ways and Means Advances
The RBI announced a 60% increase in WMA limit over the March levels for state governments to enable COVID-19 containment and mitigation efforts and plan their market borrowings. About WMA Ways and Means Advances or WMA is a mechanism used ..
RBI cuts Reverse Repo rate to 3.75%, Rs 50,000 crores for LTRO 2.0
On April 17, 2020, the Reserve Bank of India announced a slew of measures after GoI extended the lock down till May 3, 3030. The Apex bank cut the reverse repo rate to 3.75%. It cut the repo rate to ..
Month: Current Affairs - April, 2020
RBI launches OBICUS
On April 16, 2020, the Reserve Bank of India launched OBICUS. This is the 49th round of survey by the apex bank for the period January to March. Highlights The Capacity Utilisation declined to 68.6% from 69.1%. What is OBICUS ..
Month: Current Affairs - April, 2020
India attends G20 Finance Ministerial Meeting
On April 15, 2020, Finance Minister Nirmala Sitaraman attended G20 Finance Minister meet. The Minister shared the policy measures being implemented by the Government of India and RBI. Action Plan The outcome of the virtual financial ministerial meet is as ..
Month: Current Affairs - April, 2020
What is Helicopter Money being suggested by World Experts?
With the increasing economic crisis, Helicopter Money is a solution being suggested by economic specialists all over the world. What is Helicopter Money? Helicopter Money was the term framed by an American Economist Milton Friedman. Helicopter Money is the monetary ..