Page-16 of Reserve Bank of India (RBI)
RBI to conduct Special OMOs on 2nd July to Pump up Liquidity
On 29th June 2020, the Reserve Bank of India (RBI) has announced that it will be conducting a special Open Market Operations (OMOs) on 2nd July 2020. The Open Market Operations was announced after reviewing the market conditions and evolving ..
Month: Current Affairs - June, 2020
Cabinet Approves Ordinance to bring UCBs and MSCBs under RBI supervision
The decision to bring Urban Cooperative Banks (UCBs) and Multi-State Cooperative Banks (MSCBs) under the supervision of India’s Central Bank- the Reserve Bank of India (RBI) was taken on 24th June 2020 during a meeting of the Union Cabinet. The ..
Month: Current Affairs - June, 2020
Advisory Panel on Insolvency and Bankruptcy Board of India (IBBI) reconstituted
The Government of India recently reconstituted the advisory panel on corporate insolvency resolution and liquidation process. Highlights The IBBI recently reconstituted advisory panel by inducting four members. The committee was constituted in 2017 and is chaired by a noted banker ..
Month: Current Affairs - June, 2020
RBI sets up P K Mohanty Panel to Review Ownership of Private Banks
On June 12, 2020, the Reserve Bank of India has constituted an internal working group. The working group is to review guidelines of ownership of private sector banks. Highlights The panel constituted by the apex bank is to examine regulations ..
Month: Current Affairs - June, 2020
RBI releases Framework for sale of Loan Exposure and Securitization of Standard Assets
The Reserve Bank of India recently released draft framework for “Sale of Loan Exposures” and “Securitization of Standard Assets”. Highlights The guidelines issued are applicable to Scheduled Commercial Banks. This includes All India Financial Institutions such as EXIM Bank, NABARD, ..
Month: Current Affairs - June, 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
GoI discontinues 7.75% savings bonds
The Reserve Bank of India recently announced that the Government of India has discontinued 7.75% savings bonds. Highlights The 7.75% savings bonds that are also called government bonds or RBI bons were issued in 2018. They were available for the ..
Month: Current Affairs - June, 2020
22nd Financial Stability and Development Council meeting chaired by Finance Minister
On May 28, 2020, the Union Finance Minister Nirmala Sitaraman chaired Financial Stability and Development Council meet. Highlights The meeting reviewed current domestic and global economic situation, financial vulnerabilities issues, liquidity of Micro financial institutions, Non-Banking Financial corporations, regulatory responses, ..
Month: Current Affairs - May, 2020
SC places Cooperative banks under SARFAESI Act
The Supreme Court of India recently pronounced its judgement that cooperative banks shall be placed under SARFAESI Act. Highlights The Supreme court has upheld the GoI notification dated January 28, 2003 under which the cooperative societies have come under SARFAESI ..
Month: Current Affairs - May, 2020
“Special Corona Fee” imposed on Liquor by Delhi Government
On May 4, 2020, the third phase of lock down began in India. Under the third phase, the liquor shops were opened in selected regions with certain restrictions. Highlights With the liquor shops opening after a long gap, there were ..
Month: Current Affairs - May, 2020