B P Kanungo assigned to run monetary policy portfolio

The Reserve Bank of India (RBI) has assigned deputy governor B.P. Kanungo to run the monetary policy portfolio after the resignation of fellow deputy governor Viral Acharya. Kanungo would become the 6th member of the RBI’s Monetary Policy Committee, which ..

Utkarsh 2022: finalized by RBI board

The Reserve Bank of India (RBI) board has finalised Three Year Roadmap to improve supervision and regulation, among other functions of central bank. This medium term strategy is named as Utkarsh 2022. Worldwide, all central banks strengthen regulatory and supervisory ..

Month: Current Affairs - July, 2019

RBI finalizes a 3- year roadmap — named Utkarsh 2022

The board of Reserve Bank of India (RBI) has finalized a 3- year roadmap — named Utkarsh 2022 — to improve regulation and supervision of the central bank. This medium term strategy is in line with the global central banks’ ..

Centre fixes price for Sovereign Gold Bonds at Rs.3,443 per gram

Government of India has fixed the price at Rs.3,443 per gram for the new series of Sovereign Gold Bonds (SGBs) opening July 8. Key Highlights Union Finance Ministry recently announced that Centre in consultation with Reserve Bank of India (RBI) ..

Month: Current Affairs - July, 2019

Budget 2019 : New Rs 20 coin

A new coin of Rs 20 denomination is to be launched in the Indian market. The details of the new Rs 20 coin are as follows- The new Rs 20 coin will have a 12-edged polygon (dodecagon) shape. It will ..

RBI constitutes panel to review Core Investment Companies

Reserve Bank of India (RBI) constituted a working group to review regulatory guidelines and supervisory framework for Core Investment Companies (CIC). The 6-member working group is chaired by Tapan Ray, non-executive chairman, Central Bank of India and former Secretary in ..

Month: Current Affairs - July, 2019

Sarada Kumar Hota appointed as Managing Director of National Housing Bank

Sarada Kumar Hota has been appointed as the new Managing Director of National Housing Bank (NHB) for a period of three years. Prior to this appointment, Hota was Managing Director and Chief Executive Officer of Can Fin Homes. NHB, which ..

RBI: Payments related Data to be stored only in India

Reserve Bank of India recently clarified that all Payment System Operators (PSOs) shall store entire payment data in systems located only in India. It means that the data related to payments must be stored in systems located only in India. ..

Month: Current Affairs - June, 2019

India’s Forex reserves rise to a record high of $426.42 billion

As per the data revealed by Reserve Bank of India (RBI), India’s foreign exchange (Forex) reserve rose to a life-time high of $426.42 billion (in week to 21 June 2019) after it surged by $4.215 billion boosted by higher foreign ..

Month: Current Affairs - June, 2019

RBI launches CMS system

The Reserve Bank of India (RBI) has launched a new “Complaint Management System (CMS)” website where anyone can complain against any of the entities regulated by RBI. Through this website, complaints can be lodged against RBI regulated entities with public ..