Page-32 of Reserve Bank of India
SBI allows depositors to withdraw cash from its Point of Sale (PoS) devices
In a bid to ease the cash crunch, the State Bank of India (SBI) has decided to allow depositors to withdraw cash from its Point of Sale (PoS) devices available with merchants. This “Cash@POS” facility will be available for customers ..
Month: Current Affairs - April, 2018
RBI tightens reporting norms for LRS
On 13th April 2018, the Reserve Bank of India (RBI) has tightened reporting norms for the Liberalised Remittance Scheme (LRS) under which an individual can transfer upto $ 2,50,000 US Dollars abroad in a year. The central bank has made ..
Month: Current Affairs - April, 2018
Sunref Housing Project
The National Housing Bank (NHB) has joined hands with the French Development Agency (FDA) and the European Union to launch the SUNREF Housing India programme as part of efforts aimed at scaling up green housing projects in India. SUNREF (Sustainable ..
Committee on Public Credit Registry (PCR)
The Reserve Bank of India has constituted a 10-member ‘High Level Task Force on Phublic Credit Registry (PCR) for India’, which will, among other things, suggest a roadmap for developing a transparent, comprehensive and near-real-time PCR for India. The committee ..
RBI launches Ombudsman Scheme for NBFCs
The Reserve Bank of India (RBI) has launched Ombudsman Scheme for redressal of complaints against the Non-Banking Financial Companies (NBFCs). The scheme will provide a cost-free and expeditious complaint redressal mechanism relating to deficiency in the services by NBFCs covered ..
Y H Malegam committee constituted by RBI to look into bank frauds
The Reserve Bank of India (RBI) has constituted a new 5-member expert Committee under the chairmanship of Y H Malegam, a former member of the Central Board of Directors of RBI, to look into the reasons for wide divergence by ..
In 6th Bi-monthly Monetary policy statement, RBI keeps repo rate unchanged at 6%
In the 6th Bi-monthly Monetary policy statement for 2017-18, the Reserve Bank of India (RBI) has kept the key interest rate “repo rate” unchanged at 6% and reverse repo at 5.75%. Also, the Marginal Standing Facility (MSF) rate and the ..
S Selvakumar appointed as new CMD of SPMCIL
S Selvakumar, the senior IAS officer, has been appointed as new Chairman and Managing Director (CMD) of Security Printing and Minting Corporation of India Ltd (SPMCIL) with effect from January 16, 2018. Selvakumar succeeded Anurag Agarwal. The state-owned SPMCIL produces ..
RBI initiates PCA against Allahabad Bank over its high bad loans
The Reserve Bank of India (RBI) has initiated Prompt Corrective Action (PCA) against public sector lender Allahabad Bank, owing to its high net Non-Performing Assets (NPAs) and negative Return on Assets (RoA) for two consecutive years. The action would contribute ..
RBI brings Bank of India under Prompt Corrective Action
The Reserve Bank of India (RBI) recently had initiated prompt corrective action (PCA) measures against Bank of India (BoI) in the view of its high non-performing assets (NPAs) and insufficient capital. The RBI placed BOI under PCA consequent to the ..