Uma Shankar appointed as new Executive Director of RBI

Uma Shankar has been appointed as the new Executive Director of Reserve Bank of India (RBI). She has been elevated after Meena Hemchandra the executive director in charge of the central bank’s supervision department retired at the end of November. ..

5th bi-monthly Monetary Policy Review (MPR) of RBI

The Reserve Bank of India (RBI) has kept the key interest rate “repo rate” unchanged at 6% and reverse repo at 5.75% in its fifth bi-monthly monetary policy review for the year 2017-18 on December 6, 2017, as it feared ..

RBI to make LEI compulsory for companies with over Rs 5 crore exposure

The Reserve Bank of India (RBI) will soon make Legal Entity Identifier (LEI) compulsory for companies having aggregate fund-based and non-fund based exposure over Rs 5 crore. Before this, RBI made LEI mandatory for transactions in interest rate, forex and ..

M Deosthalee to be head of newly constituted task force of RBI on Public Credit Registry (PCR)

The Reserve Bank of India (RBI) has formed a 10-member task force on Public Credit Registry (PCR) for India to improve market efficiency. The task force will be headed by M Deosthalee, former chairman of L&T Finance Holdings. The terms ..

Reserve Bank of India (RBI) released its 4th bi-monthly monetary policy statement for year 2017-18

The Reserve Bank of India (RBI) has recently released its 4th bi-monthly monetary policy statement for the year 2017-18. As per the monetary policy statement, the policy repo rate under the Liquidity Adjustment Facility (LAF) has remain unchanged at 6%. ..

The Ujjivan Small Finance Bank (SFB) Ltd received ‘Scheduled Bank’ status by RBI

The Ujjivan Small Finance Bank (SFB) Ltd, a wholly-owned subsidiary of Ujjivan Financial Services Ltd., has been included in the Second Schedule to the Reserve Bank of India (RBI) Act, 1934. With this, Ujjivan SFB has attained the status of ..

Tarun Ramadorai committee recommended that banks should link home loan rates to repo rate

The Reserve Bank of India (RBI) appointed committee on Household Finance has recently recommended that banks should link their home loan rates to the RBI’s repo rate, the rate at which it lends to banks. The committee, whose recommendations are ..

Dhirendra Swarup appointed as new chairman of Bombay Stock Exchange (BSE)

Dhirendra Swarup, who was a public interest director at the BSE, has been appointed as the new chairman of the Bombay Stock Exchange (BSE). He succeeded Sudhakar Rao. Swarup is a former Chairman of Pension Funds Regulatory and Development Authority ..

Reserve Bank of India (RBI)’s 3rd bi-monthly monetary policy statement for year 2016-17

According to the Reserve Bank of India (RBI)’s 3rd bi-monthly monetary policy statement for year 2016-17, the policy repo rate under the Liquidity Adjustment Facility (LAF) has reduced by 25 basis points from 6.25% to 6.0% with immediate effect. This ..

Central Bank auctions Treasury Bills under MSS

Reserve Bank of India today auctioned 35-days Treasury Bills worth Rs. 60,000 Crores under the aegis of Market Stabilization Scheme as a step to clean the extra liquidity from the system. The bids were submitted via an electronic format on ..