Reserve Bank of India Current Affairs - 2019

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Banks not to charge for failed transactions, balance enquiry: RBI

Every month banks provide certain number of free transactions at ATMs to their customers and exceeding which charges are imposed. Reserve Bank of India (RBI) has asked banks not to count failed transactions at ATMs due to technical reasons as part of ‘free ATM transactions’ permitted every month. Circular issued by RBI The central bank Read More…

Month:  Categories: Business, Economy & Banking

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RBI reduces repo rate by 35 basis points to 5.40%

Reserve Bank of India (RBI) in its third Bi-monthly Monetary Policy review for financial year 2019-20 has reduced its key policy rate (repo rate) by an unorthodox 35 basis points to 5.40%. This takes the benchmark lending rate to a nine-year low. It was overall fourth consecutive interest rate cut this year, bringing down repo Read More…

Month:  Categories: Business, Economy & Banking

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RBI tightens fit-and-proper criteria for directors on PSB boards

Reserve Bank of India (RBI) has tightened fit-and-proper criteria for directors on boards of state-run Public Sector Banks (PSBs). In this regard, it has issued RBI (‘Fit and Proper’ Criteria for Elected Directors on the Boards of PSBs) Directions, 2019. Purpose of directions is to determine ‘fit and proper’ status of person to be eligible Read More…

Month:  Categories: Business, Economy & Banking

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RBI liberalises ECB norms by relaxing end-use restrictions

Reserve Bank of India (RBI) has relaxed External Commercial Borrowing (ECB) norms for corporates, non-banking lenders by relaxing end-use restrictions with regard to working capital, general corporate purpose and repayment of rupee loans. This decision was taken after receiving feedback from stakeholders for easing liquidity in the domestic market. Recent changes by RBI End-use stipulations Read More…

Month:  Categories: Business, Economy & Banking

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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 mechanism and everybody is formulating a medium-term plan and a long-term plan. So, RBI also Read More…

Month:  Categories: Business, Economy & Banking

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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) has decided to allow a discount of Rs.50 per gram from issue price to those Read More…

Month:  Categories: Government Schemes & Projects

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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 Union Ministry of Corporate Affairs (MCA). Key Highlights Background: In August 2010, Central Bank on Read More…

Month:  Categories: Business, Economy & Banking

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