News: Reserve Bank of India has released the data on the top attractive investment destination states. Facts: Key Highlights from the study: In 2018-19,Andhra Pradesh accounted for the highest share in total cost of projects sanctioned by banks and financial institutions. It was followed by Tamil Nadu, Maharashtra, Gujarat, Telangana , Rajasthan and Uttar Pradesh.… Continue reading Maharashtra loses top slot as attractive investment destination to Andhra in FY’19: RBI study
Tag: RBI
New Umbrella entity for retail payment systems
News:The Reserve Bank of India(RBI) has released a draft framework for authorisation of a pan-India New Umbrella Entity(NUE) for Retail Payment Systems. Facts: About New Umbrella Entity(NUE): The new pan-India new umbrella entity(NUE) or entities will focus on retail payment systems with a minimum paid-up capital of Rs 500 crore. They may be a ‘for-profit’… Continue reading New Umbrella entity for retail payment systems
RBI issues notification on CRR leeway for new retail, MSME loans
News:RBI has exempted banks from maintaining cash reserve ratio(CRR) for loans to retail and micro, small and medium enterprises for five years if these loans are extended between January 31 and July 31,2020. Facts: About CRR: The Cash Reserve Ratio refers to a certain percentage of total deposits the commercial banks are required to maintain… Continue reading RBI issues notification on CRR leeway for new retail, MSME loans
RBI to release Digital Payment Index by July 2020
News:The Reserve Bank of India announced that it will create a Digital Payment Index by July 2020. Facts: About the Index: Aim:To capture the extent of digitization of monetary payments in the country. The index will have a classification of urban, semi-urban and rural geographies to analyze the kind of digital payments that are gaining… Continue reading RBI to release Digital Payment Index by July 2020
RBI releases bi-monthly policy
News:The Reserve Bank of India released its bi-monthly monetary policy committee(MPC) report. Facts: Key Highlights from the report: Repo Rate:It is the rate at which the RBI lends money to the banks for a short term.It remains unchanged at 5.15%. Reverse Repo Rate:It is the short term borrowing rate at which RBI borrows money from… Continue reading RBI releases bi-monthly policy
Cabinet Clears Amendments To Ensure Greater RBI Control Over Cooperative Banks
News:The Union Cabinet has approved amendments to the Banking Regulation Act to give the Reserve Bank of India greater control over cooperative banks. Facts: Key provisions of the amendments: Cooperative banks will be brought under the regulation of the RBI. The RBI will have the power to supersede and take control of the cooperative banks… Continue reading Cabinet Clears Amendments To Ensure Greater RBI Control Over Cooperative Banks
RBI chalks out financial inclusion strategy for 2024
News:The Reserve Bank of India has released the national strategy for financial inclusion. Facts: About the strategy: The national strategy for financial inclusion sets forth the vision and key objectives of financial inclusion policies in India. It also aims to provide access to formal and affordable financial services; broaden and deepen financial inclusion and promote… Continue reading RBI chalks out financial inclusion strategy for 2024
Stressed urban cooperative banks to face PCA-like curbs
News:The Reserve Bank of India has revised its supervisory framework for urban co-operative banks(UCBs) to expedite resolution of UCBs experiencing financial stress. Facts: About the revised framework: The framework imposes restrictions on urban cooperative banks(UCBs) for deterioration of financial position in line with the prompt corrective action(PCA) framework that is imposed on commercial banks. The… Continue reading Stressed urban cooperative banks to face PCA-like curbs
RBI directs large co-op banks to report all exposures above Rs.5 crore
News:The Reserve Bank of India(RBI) has directed large cooperative banks to report all aggregate exposures of Rs.5 crores and more to Central Repository of Information on Large Credits(CRILC). Facts: About CRILC: The Reserve Bank of India has created a CRILC of commercial banks, certain Non-Banking Financial Companies (NBFCs) and All India Financial Institutions(AIFIs). CRILC collects,… Continue reading RBI directs large co-op banks to report all exposures above Rs.5 crore
Financial system stable despite slowdown:RBI report
News:The Reserve Bank of India has released its biannual Financial Stability Report,2019. Facts: About Financial Stability Report: The Financial Stability Report are bi-annual reports published by the Reserve Bank of India(RBI). The report is the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability. It reviews… Continue reading Financial system stable despite slowdown:RBI report
