Page-36 of Reserve Bank of India

National Financial Switch

November 4, 2011

With a view to inter-connect the ATMs in the country and facilitate easy banking for the common man, the Institute of Development and Research in Banking Technology (IDRBT), Hyderabad conceptualized, developed and implemented the National Financial Switch. The National Financial ..

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RBI: Income grows 12.7% in 2010-11

November 4, 2011

The RBI has posted an income of Rs. 37,070 Crore for the year 2010-11. The accounting year of RBI starts from July and ends in June. Reserve Bank of India’s (RBI) gross income for 2010-11 rose 12.7 per cent to ..

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India Post to seek Banking License

November 4, 2011

India Post is the largest postal network in the world, comprising 1.55 lakh post offices, of which nearly 1.4 lakh are in rural areas. The department of posts is currently working on a plan to get a bank licence, which ..

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Financial Inclusion: New operational guidelines on Financial Inclusion

November 4, 2011

The new RBI guidelines on Financial Inclusion have shifted the onus from “‘one district-many banks” to “‘one district-many banks-one leader bank“. The new operational guidelines are for the implementation of a transfer system (Electronic Benefit Transfer) for servicing low-value accounts ..

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Differentiated Bank Licences and Issues with New Licenses in India

November 4, 2011

The Indian financial system currently consists of commercial banks, co-operative banks, financial institutions and non-banking financial companies (NBFCs). The commercial banks can be divided into categories depending on the ownership pattern, viz. public sector banks, private sector banks, foreign banks. ..

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Why Two year Extension to Subbarao?

October 30, 2011

Recently, the PMO office has announced a two-year extension for Reserve Bank of India governor D Subbarao. We note that it’s Finance Ministry, which deals with the RBI Governor appointments, but this time PMO, makes a statement and the objective ..

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Liquidity Adjustment Facility (LAF)

April 28, 2011

Liquidity Adjustment Facility (LAF) is the primary instrument of Reserve Bank of India for modulating liquidity and transmitting interest rate signals to the market. It refers to the difference between the two key rates viz. repo rate and reverse repo rate. ..

History of Reserve Bank of India

April 28, 2011

Prior to RBI, all the functions of a central bank were being done by Imperial Bank of India. Imperial Bank of India was established in 1921 via the Imperial Bank of India Act, 1920 which amalgamated three Presidency Banks into ..

Current Trends: Statutory Liquidity Ratio

October 12, 2010

As per Section 24 (2A) of Banking Regulation Act 1949, every banking company in India has to maintain equivalent to an amount which shall not at the close of the business on any day be less than certain portion of ..

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Current Affairs April 20, 2010

April 30, 2010

Appointments:Meghalaya: 21st Chief Minister – Dr Mukul Manda SangmaDr Mukul Manda Sangma has been sowrn in as 21st Chief Minister of Meghalaya. He leads Congress-United Democratic Party-led five-party Meghalaya United Alliance coalition government. Bindo M Lanong of the UDP was ..

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