RBI revises Market Stabilisation Scheme (MSS), raises ceiling to Rs. 6L crore

In a major move to deal with extra liquidity created in the system due to the demonetisation drive, the Central government as per the directions of the Reserve Bank of India raised the ceiling on Market Stabilization Scheme from Rs. ..

Regional Rural Banks

The nationalization of the banks in 1969 boosted the confidence of the public in the Banking system of the country. However, in the early 1970s, there was a feeling that even after nationalization, there were cultural issues which made it ..

RBI signs an information sharing agreement with US banking regulators

Reserve Bank of India (RBI) has signed an information sharing agreement with United States (US) banking regulators for better coordination with them in supervising financial institutions. Earlier in December 2014, RBI had concluded a Statement of Co-operation (SoC) on “Supervisory ..

Month: Current Affairs - January, 2015

RBI extends deadline for withdrawal of pre-2005 currency notes till 30 June 2015

Reserve Bank of India (RBI) has extended the deadline for withdrawal of pre-2005 of various denominations including Rs 500 and Rs 1,000 by six months till 30th June 2015. RBI also has clarified that all such notes will continue to ..

Month: Current Affairs - December, 2014

Nachiket Mor Committee recommendations

The “Committee on Comprehensive Financial Services for Small Businesses and Low Income Households” was set up by the RBI in Sep 2013 under the chairmanship of Nachiket Mor, an RBI board member. RBI released the voluminous and detailed Report of ..

RBI raises concerns on separation of DMO from Central Bank

The Reserve Bank of India (RBI) showed concerns on separation of Debt Management Office (DMO) from Central Bank. The government had proposed to make DMO an independent body under the ambit of finance ministry. This would be accountable for managing ..

Month: Current Affairs - September, 2012

NHB to disburse Rs 4,000 cr under Rural Housing Fund

The National Housing Bank (NHB) is targeting disbursal of Rs 4,000 crore for rural housing during the fiscal 2013, a growth of 33 % over fiscal 2012. The enhancement in the amount will encourage the provision of housing finance to ..

Month: Current Affairs - September, 2012

Orissa: First Indian state to begin e-payment facility for government employees

Orissa is the first Indian state to commence e-payment facility for government employees from August 1, 2012. Govt employees will get their salaries and pensions through the online Portal of the RBI. Salaries and pensions will be directly transferred to ..

Month: Current Affairs - August, 2012

Indian companies can continue to buy back FX convertible bonds

The Reserve Bank of India has allowed companies to continue to buy back foreign currency convertible bonds (FCCBs) under the approval route. The central bank will consider proposals from Indian companies for buyback of FCCBs, if the buyback value is ..

Month: Current Affairs - July, 2012

Category: Government Schemes Current Affairs

India Inc disgruntled with RBI not slashing rates

India Inc is dissatisfied with RBI’s decision of keeping interest rates unchanged As per Assocham, a cut in interest rates may give some boost to the industrial sector and help the economy come back on the higher growth trajectory The ..

Month: Current Affairs - June, 2012